Day: October 15, 2018

Binance Launches Its First Fiat-Crypto Exchange in Uganda

boss

Major international crypto exchange Binance has announced that its fiat-to-crypto exchange will open in Uganda this week, the company reveals Monday, Oct. 15. CEO and founder of Binance, Changpeng Zhao (CZ), had told Cointelegraph in an exclusive interview in June of plans to open the Ugandan crypto-fiat exchange. As per Binance Uganda’s press release, the new branch will officially start accepting deposits and withdrawals of Ugandan shillings (UGX) Wednesday, Oct. 17. Binance Uganda notes that exchange has already begun its know-your-customer (KYC) procedures. An additional press release reports that Uganda’s…

Tether Tanks as Traders ‘Lose Trust,’ Other Cryptos See Price Boost

boss

Monday, Oct. 15: Crypto markets are seeing solid growth, with virtually all of the major cryptocurrencies seeing green as of press time. An outlier in the space is “stablecoin” Tether (USDT), which has today lost its U.S. dollar peg and is trading well below its historical trading range as of press time. Market visualization by Coin360 Tether is currently trading at around $0.96, down about 3.05 percent on the day, according to CoinMarketCap. Although reasons for the USDT price plunge are not confirmed, there have been reports of an alleged…

Bitcoin Explodes to $7,000 within 24 Hours; Is Tether Behind the Short-Term Rally?

boss

After months of bearish action, the Bitcoin price on Monday soared above $7,000 within a matter of hours. BTC/USD bounced from $6,269 earlier today to establish fresh highs towards $6,950, according to CoinMarketCap, adding approximately $9 billion to its market cap. On some exchanges, including Hong Kong-based BitFinex, the pair skyrocketed above $7,000. Weak USDT Pumps Bitcoin The circa ten percent jump was waved by the sell-off of USDT, a USD-pegged token, which didn’t exactly remain pegged to the greenback. The controversial stablecoin dropped to as low as 85 cents amidst…

Bitcoin Price Spiked as Cryptocurrency Traders Become Wary of Tether Situation

boss

Bitcoin’s value jumped by almost 9% at one point on Monday, as investors fled the so-called stablecoin Tether. Tether tokens are supposed to be tied to the U.S. dollar, with the eponymous company behind them claiming that it has a dollar in its accounts for each token it issues. There is no conclusive evidence to support this claim, but the token is still often used as a dollar substitute for trading purposes, as they are more easily transferred between exchanges than dollars are. Some have long suspected that the Tether operation is…

Sony Develops Blockchain Solution for Rights Management with Internal Partnerships

boss

Japanese technology multinational Sony revealed it is working on a blockchain-powered extension of its digital rights management system Monday, Oct. 15. The project is a joint endeavor with both Sony Music Entertainment Japan and Sony Global Education. The as yet unnamed project — the commercialization of which is currently being “considered” — specifically targets “managing rights-related information of written works.” The announcement comes around a year after Sony announced its original blockchain product for education data, when it partnered with fellow technology giant IBM. The press release notes that this…

Bitcoin (BTC) Price Update: Mini-rally Nearly Reaches $7,000 as Tether Sinks to 97 Cents

boss

Bitcoin temporarily seemed to be on the cusp of breaking beyond $7,000 as the Tether (USDT) liquidity issue finally caused a breakout. The top-ranked cryptocurrency peaked at $6,900 before a pullback saw it drop over $300 but still maintain a positive 24-hour price change. Tether Exit Triggers Bitcoin Pump While details remain sketchy at this point, it appears that the sheer volume of USDT holders trading in the stable coin Bitcoin might be responsible for the price pump. BTC broke its descending triangle trend in what has become a regular…

From Food-Tracking and Shipping to IoT and Security Solutions

boss

The adoption of blockchain technology is slowly taking shape across a multitude of industries. At the forefront of the amalgamation of payment systems and logistics is US tech giant International Business Machines Corporation (IBM), which has established itself as a leader in terms of blockchain-based products and offerings. The latest developments aim at the logistics sector – but IBM has been keen on blockchain for over 5 years that reveals a slow and steady approach to the adoption of enterprise-scale blockchain solutions. Exploring the Internet of Things Their beginnings in…

‘Too Many Disappointing ICOs’. Crypto Payment Startup Launches With ‘No Funding’ Strategy

boss

The team behind a new cryptocurrency platform designed to transfer the way consumers and businesses are paid, says it is putting its money where its mouth is – and has managed to launch without the need for an initial coin offering (ICO). BLOC argues that too many ICOs have been popping up in the crypto world – disappointing users by failing to offer real products at their conclusion. By contrast, the startup says its platform already boasts “an exclusive set of mining tools, world-first features, and an unrivaled ecosystem to connect buyers…

Bitcoin Exchange Bitfinex Announces New Reporting Tools for Users

boss

Bitfinex has announced that launch of a new suite of reporting tools intended to help users gain greater control over their trades and give them useful insights into their activities on the platform. In a blogpost on its website, Bitfinex revealed that the tools are designed to enable users gain unlimited insights by viewing as much of their account data as they want, through the removal of requested data limits. New Additions Bitfinex says that the UI of the new reporting tools is based on “modern web technology” with a…

Bitcoin Price Watch: BTC/USD’s Upside Drift, Reversal And Tether’s Decline

boss

Key Points Bitcoin price rallied above the $6,600 and $6,700 resistances and later reversed gains against the US Dollar. There was a break above a major bearish trend line with resistance at $6,310 on the hourly chart of the BTC/USD pair (data feed from Kraken). Tether (USDT) pairs rallied above the $7,000 and $7,500, but later trimmed most of its gains. Bitcoin price broke the $6,700 resistance, but it failed to hold gains against the US Dollar. BTC/USD is back to $6,400 and it is currently under pressure. Bitcoin Price…