Day: November 8, 2018

South Korean Lawyers’ Association Lobbies Government to Establish Legal Crypto Framework

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South Korea’s lawyers are lobbying the country’s government to step up its action and expedite a legal framework for cryptocurrencies, Reuters UK reports Nov. 8. The Korean Bar Association, membership of which is required of all the country’s lawyers, has appealed to the government to take more swift action in the realm of cryptocurrencies, with Bar Association President Kim Hyun telling a press conference at the parliament that: “We urge the government to break away from negative perceptions and hesitation, and draw up bills to help develop the blockchain industry…

Poloniex Exchange to be the First to Offer Trading for the Upcoming Bitcoin Cash Hard Fork

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In less than ten days, Bitcoin Cash (BCH) will be experiencing a new hard fork on its network. The upgrade is scheduled to take place on November 15. Regarding this announcement, Poloniex, crypto exchange operated by Goldman Sachs-backed startup Circle, has revealed its plans to support both Bitcoin Cash chains: Bitcoin SV and Bitcoin ABC. We will support the upcoming Bitcoin Cash hard fork. On November 15, 2018, we will pause deposits and withdrawals at 14:00 UTC, and take a snapshot of all BCH balances at 15:00 UTC. Once the network stabilizes, we will make an…

Bitcoin Price Watch: BTC/USD Near Make-or-Break Support Zone

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Key Points Bitcoin price declined recently and traded below the $6,470 support level against the US Dollar. There is a significant bullish trend line in place with support at $6,440 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely to bounce back as long as it is above $6,440 and $6,375 in the near term. Bitcoin price corrected lower below $6,500 against the US Dollar. BTC/USD is currently testing a major support at $6,440, which holds the key. Bitcoin Price Analysis Yesterday, we…

Bitcoin Cash Drops 5% as Crypto Market Retraces, Tokens Take a Hit

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Twitter Facebook LinkedIn After demonstrating nearly a 50 percent gain within a three-day span, Bitcoin Cash dropped five percent of its value against the US dollar. The volume of Bitcoin Cash, which hovered at around $1.4 billion on November 6, has since dropped to $950 million, by 32 percent. Still, on a weekly basis, the volume of Bitcoin Cash is up from $750 million from $200 million. Ripple (XRP), EOS, and Stellar (XLM), three major cryptocurrencies that experienced fairly large gains against both Bitcoin and the US dollar, recorded a…

Ripple Price Analysis: XRP/USD Correcting Gains Toward Key Supports

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Key Highlights Ripple price traded as high as $0.5626 and later corrected lower against the US dollar. There was a break below a major bullish trend line with support at $0.5300 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could correct further lower towards the $0.5080 or $0.4940 support level in the near term. Ripple price is correcting recent gains against the US Dollar and Bitcoin. XRP/USD remains nicely supported on the downside near the $0.5080 level. Ripple Price Analysis Yesterday, there was a…

Ethereum Classic Price Analysis: ETC/USD Approaching Significant Support

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Key Highlights Ethereum classic price traded close to $10.00 before correcting lower against the US dollar. There is a major bullish trend line in place with support at $9.40 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair is likely to find a strong buying interest near the $9.40 or $9.20 support level. Ethereum classic price started a downside correction against the US Dollar and Bitcoin. ETC/USD is approaching a few important supports above the $9.20 level. Ethereum Classic Price Analysis In the last analysis,…

Valenciaport Joins Maersk, IBM Blockchain Project TradeLens

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Spain’s Port Authority of Valencia or Valenciaport, has joined the blockchain-enabled shipping solution project TradeLens as “Early Adopters.” The solution is jointly developed by Danish transport and logistics giant Maersk and IBM by applying blockchain to the world’s global supply chain. The partnership with IBM and Maersk will facilitate application of blockchain technology in Valenciaport’s logistics chain to promote more efficient and secure global trade. TradeLens helps multiple trading partners to collaborate by establishing a single shared view of a transaction without compromising privacy and confidentiality of the data. Real-time access to…

US Elections Push Augur’s Total Ether Bets Over $2 Million

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U.S. elections drama may be dragging Augur out of the doldrums. The decentralized betting platform built on ethereum enjoyed a promising launch in July but then stagnated due to its clunky user experience and a general decline in the use of decentralized applications. As Tuesday’s mid-term elections in the U.S. approach, however, money is pouring into the platform. The market for “Which party will control the House after 2018 U.S. Midterm Election?” has 3,517 ether or nearly $727,000 staked on it at the time of writing, according to Predictions.Global, a…

The Number of Bitcoin Short Positions Just Hit a 3-Month Low

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The bearish sentiment around bitcoin sank to three-month lows earlier today as short positions placed on crypto exchange Bitfinex fell to their lowest level since August 5th. At approximately 11:00 UTC, the number of short positions dropped to 21,434, which represents a 33 percent drop in the past eight days alone. During the same time, longs – or positions that are betting on an increase in bitcoin’s price – also witnessed a notable increase of 10 percent, the current number of which (24,410) marks a three-week high. Indeed, the sentiment here seems…

Crypto Wallet Firm Blockchain to Airdrop $125 Million in Stellar

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Crypto wallet provider Blockchain says it’s about to stage what it’s calling the “largest crypto giveaway in history.” The company will distribute $125 million in Stellar lumens (XLM), nearly half a billion tokens, to Blockchain wallet holders who sign up for the airdrop. The first batch of recipients will see their tokens arrive within the week, according to an announcement Tuesday. The amount of XLM being dropped to each wallet was not disclosed by the firm. With the news, Stellar becomes the first partner for Blockchain’s airdrop program and guiding framework announced last…