Day: October 9, 2018

Ethereum Sell-Off in August Shows Crypto Has Hit a Bottom in 2018

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According to cryptocurrency analyst Eric Thies, the crypto market may have hit a bottom in September as the price of Ethereum (ETH) declined by more than 50 percent. Since delving below the $180 mark, ETH has since recovered to $230, likely due to the demonstration of massively oversold conditions by the market in late September. ETH Enabled ICO Bubble, Which Led to Crypto Bubble ETH/USD | Bitfinex Throughout the third and fourth quarters of 2017, interest and demand for initial coin offering (ICO) projects hit an unprecedented level. Blockchain projects…

Swiss Asset Management Firm Tiberius Group AG Delays Launch of Metals-Backed Token

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Switzerland-based commodities assets manager Tiberius Group AG has delayed the sale of its metals-backed cryptocurrency, Tiberius Coin, due to high fees from credit card companies, Bloomberg reported Oct. 9. The company announced its intention to issue a digital currency tied to the price of metals — copper, aluminum, nickel, cobalt, tin, gold and platinum — in late September. Tiberius Group then explained that “instead of underlying the digital currency with only one commodity, we have chosen a mix of technology metals, stability metals and electric vehicle metals. This will give…

Research Says Crypto Market on Verge of ‘Implosion,’ Cites Low Transaction Volumes

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A recent study from Juniper Research states that the cryptocurrency market could “implode” and that transaction volumes are decreasing, Bloomberg reported Oct. 9. In a report dubbed “The Future of Cryptocurrency: Bitcoin & Altcoin Trends & Challenges 2018-2023” Juniper assessed the challenges of digital currencies, with a focus on technical, social and regulatory concerns. The survey also analyzed such issues like regulatory developments across the market, exchange failure, hacker attacks, and blockchain forking and their impact on crypto volatility. Per Juniper, daily transaction volumes with Bitcoin (BTC) have dropped from…

Binance Delists Bytecoin (BCN), ChatCoin (CHAT), Iconomi (ICN) and Triggers (TRIG)

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Binance, the world’s largest cryptocurrency exchange by market capitalization, has decided to delist and cease trading on all trading pairs of four coins and tokens following a review. Bytecoin (BCN), ChatCoin (CHAT), Iconomi (ICN) and Triggers (TRIG) will be delisted from October 12. However, withdrawals of these coins and tokens from Binance will continue to be supported for another 30 days until November 12. The Binance team conducts periodic reviews of coins or tokens listed on its digital asset exchange platform in order to protect its users and to ensure…

Bitcoin.Com May Launch Its Own Crypto Exchange

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Bitcoin (BTC) and Bitcoin Cash (BCH) services firm Bitcoin.com is planning to buy or set up its own crypto exchange, the company’s CEO Roger Ver revealed in an interview with Bloomberg Oct. 9. According to Ver, the upcoming crypto trading platform will be placed on the Bitcoin.com website, which is expected to generate a great amount of traffic via various services such as wallet transactions and news. Ver said the new platform will get “thousands or tens of thousands of new users every single day” through Bitcoin.com. Ver mentioned that…

First Major Bitcoin Cash ICO Raises $30M in Record Time

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On Oct. 8, 2018, the blockchain firm and mining pool Viabtc finished the first high-value initial coin offering (ICO) using the Wormhole protocol and Bitcoin Cash chain. According to exchange data, the Viabtc Token ICO raised US$3,700 per second capturing a total of $30 million in 2.2 hours. Also Read: Electron Cash Developer Reveals In-Wallet BCH Fundraiser Prototype Viabtc Launches Token Sale and Distribution Phases The firm Viabtc had recently launched a new token called the Viabtc Token (VIAT) using the Wormhole protocol. The company refers to viat as a value-added…

Bitcoin Price Intraday Analysis: BTC/USD Confirms Bull Trap

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The Bitcoin-to-dollar exchange rate on Tuesday dropped 1.69 percent from 6734-fiat to 6620-fiat after confirming a bull trap. The current market volume is lower than expected to excite a steady upside – even downside. In our previous analysis, we had stated that a breakout would be confirmed once we climb over September 5 high. BTC/USD managed to test the level in yesterday’s upside action but didn’t see as many open long positions as closed ones. That said, 6734-fiat is already a level to watch out for to confirm a short-term break…

GMO Internet To Release Yen-Pegged Stablecoin in 2019

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GMO Internet To Release Yen-Pegged Stablecoin in 2019 October 9, 2018 by Ian Edwards Japanese conglomerate GMO Internet announced it will be releasing a new yen-pegged stablecoin in 2019. Its offering will join a wave of new stablecoins that are looking to challenge long-time player Tether. Also see: Michael Terpin at ChainXChange: On Bitcoin, SIM Swaps, and More Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts GMO’s Stablecoin Will be Pegged to the Yen The GMO Japanese Yen (GJY) will be a cryptocurrency stablecoin pegged to…

Bitcoin Price Heading into ‘Classic Breakout Pattern’: Analyst

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The bitcoin price has been remarkably stagnant in recent weeks, with the flagship cryptocurrency’s volatility declining to a 17-month low on Oct. 8. Analysts including Bloomberg Intelligence commodity strategist Mike McGlone have said that this could be an indication the cryptocurrency market is beginning to establish itself into a maturing asset class. But while declining volatility may make the case that bitcoin is a store of value a bit more plausible, cryptocurrency investors, particularly those who placed their bets when the market was near an all-time high, would prefer that…

Forbes Partners With Blockchain-Based Journalism Platform to Publish Content

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International business media outlet Forbes has partnered with blockchain-based platform Civil to publish its content on a decentralized network, Civil’s co-founder confirmed on Medium on Tuesday, Oct. 9. According to Civil co-founder Matt Coolidge, Forbes is integrating Civil’s software into its own content management system (CMC). From the beginning of 2019, journalists will be able to upload their data to the Civil network while posting it to the Forbes website simultaneously. Forbes, a U.S. business news outlet founded in 1917, reaches more than 120 million people globally through its main…