Month: September 2018

ASX-Listed DigitalX Hit With Legal Action Over ICO Involvement

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Shares in the publicly listed blockchain tech and consultancy firm DigitalX have slumped after it revealed it is facing a legal claim in an Australian court In an announcement to the Australian Securities Exchange (ASX) Friday, the firm says it has been served with an Originating Application and Statement of Claim in the Australia’s Federal Court, which has been brought by a group of investors in an initial coin offering (ICO) to which it was an advisor. The parties are claiming roughly US$1,833,077 plus damages, the company indicates. DigitalX says…

Ink Protocol partners with and MakerDAO providing stability to Stablecoin

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Buyers and sellers of cryptocurrencies can now experience an easier and friendlier way of trading thanks to a partnership between Ink Protocol and MakerDAO. The two have joined hands to enable the use of the MakerDAO’s Dai stablecoin in transacting. This will go hand in hand with Ink Protocol’s Ink Pay. Reports have it that Dai is a collateral backed stablecoin. It has a stable value in addition to being consistent with a sustainable price stability. The stability in stablecoin has attracted massive investment from major investors across the globe…

Central Bank Gives Permission to Issue First Digital Currency

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Mongolia’s largest mobile telecoms operator has become the country’s first licensed entity to issue its own digital currency. This is according to a report by the official state media outlet Montsame Friday, September 28. Mobicom’s financial arm Mobifinance is now clear to issue the e-currency, dubbed “Candy,” to investors, Montsame confirms. The executives have received formal permission at a ceremonial event at the Bank of Mongolia’s headquarters Friday. Commenting on the achievement, which comes around five months after the central bank approved formal digital currency regulation, Mobicom CEO Tatsuya Hamada…

Bitcoin Breakout Elusive As Price Retreats from One-Week Highs

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Bitcoin missed a bull breakout by a whisker, as prices backed off from a six-day high of $6,826 hit earlier today. BTC’s persistent defense of $6,000 over the last three months has convinced many, including billionaire investor Novogratz, that the leading cryptocurrency has bottomed out around the February low. While that argument sounds logical, a bullish breakout would be confirmed only after the cryptocurrency has found acceptance above the top edge of the three-month-long narrowing price range. However, crossing that key price hurdle is proving a tough task for the…

China’s Nanjing Arbitration Commission Tests Blockchain Platform for Legal Disputes

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The Nanjing Arbitration Committee is testing a new blockchain platform designed to store and process data for legal disputes. The organization officially announced this September 27. China’s regional arbitration committees were established in 1995 with the passage of the Arbitration Law, and operate as independent non-profit organizations that offer services in arbitration, mediation, and other dispute resolution mechanisms as an alternative to litigation. According to today’s announcement, the Nanjing Committee’s new platform: “Makes extensive use of blockchain technology, and coexists with depository institutions, financial institutions, and arbitration institutions to deposit…

India’s Zebpay Shutters Crypto Exchange Over Central Bank Ban

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Major Indian cryptocurrency exchange Zebpay announced it had stopped all trading due to the country’s banking ban. The official announcement was published Thursday, September 27. Citing “extremely difficult” conditions it encountered attempting to process customer orders in the current environment, the exchange gave just several hours’ notice of the decision, which as of press time is already in effect. The move caught many by surprise, coming almost three months after the July 6 deadline for banks to comply with the Reserve Bank of India’s (RBI) ban on offering services to…

Litecoin (LTC) price forms a strong bottom and is now ready for a trend reversal

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Litecoin’s price recently recovered from the $54.30 support against the US Dollar. The coin’s price formed a strong bottom at $60.00 support and signs show that it is now ready for a trend reversal. Additionally, many investors and analysists were convinced that the coin might fall significantly, but they have all been proven wrong. Price Analysis Previously, Litecoin’s price had dipped below $55, where it found support against the US dollar. The price had dropped as low as $54.36 before is started an uptrend. According to the daily chart, the…

Austria Turns to Public Ethereum Blockchain for €1.15 Billion Bond Auction

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Austria will raise a total 1.15 billion euros in a federal bond auction on Oct. 2 using blockchain notarization, according to Oesterreichische Kontrollbank (OeKB), which oversees the auctions for issuing federal bonds as a neutral capital market participant for the Austrian Federal Financing Agency (OeBFA). The auction demonstrates Austria’s pioneering role in Europe for deploying blockchain technology for sovereign bond issues, according to the notice posted on the Finance Ministry website. Two outstanding German government bonds, 0.75% Federal Bond 2018 – 2018 and 0.00% Federal Bond 20166 – 2023, will be…

Ethereum (ETH) Will Reach $1,900 Before the End of the Year, Says Tom Lee

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Tom Lee predicts Ethereum will experience a massive price rally in the closing months of the year. The research chief at Fundstrat Global Advisors tips the second-ranked cryptocurrency to reach $1,900 before the end of 2018. XRP briefly upstaged Ethereum to claim the second spot on the market capitalization rankings before regaining its place. Ethereum Price Rally Imminent According to Bloomberg, cryptocurrency bull, Tom Lee expects an imminent trend reversal for Ethereum in the fourth quarter of 2018. In a letter to Fundstrat’s clients on Thursday (September 27, 2018), Lee…

Bitcoin Price Watch: BTC/USD Targets New Weekly High

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Key Points Bitcoin price surged higher and broke the $6,540-50 resistance area against the US Dollar. Yesterday’s highlighted important bearish trend line was breached with resistance at $6,495 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is now placed well above the $6,580 pivot level and it could accelerate towards $6,840. Bitcoin price is gaining traction above $6,640 against the US Dollar. BTC/USD is likely to move further higher towards $6,840 and $6,880 if buyers remain in action. Bitcoin Price Analysis After a brief…