World’s First Cryptocurrency Exchange Traded Product to Launch in Switzerland

The world’s first multi-crypto Exchange Traded Product will officially trade next week on Switzerland’s Principal stock Exchange – the SIX Swiss Exchange. Amun ETP’s approval by SIX The SIX Swiss Exchange has approved the world’s first crypto-based Exchange Traded product (ETP) to trade on its platform. The new ETP will index the five leading cryptos per market capitalization –Bitcoin (BTC-USD), Ethereum (ETH-USD), Ripple (XRP-USD), Bitcoin Cash (BCH-USD) and Litecoin (LTC-USD). The ETP is backed by a London-based tech company called Amun, thus its name Amun Crypto ETP. Two renowned market…

Korea’s Largest Power Provider to Use Blockchain for Eco-Friendly Micro Grid

Korea’s largest power provider KEPCO says it will use blockchain and other innovative energy solutions to develop its next-generation micro grid (MG), according to an official press release Nov. 19. KEPCO is a $15.9 billion market cap corporation in which the South Korean government and state-controlled bank hold a majority stake; it has a “virtual monopoly” over power generation and distribution in the country, according to Asia-focused publication Nikkei. KEPCO’s new “Open MG” will reportedly harness blockchain and other technologies to improve energy infrastructure, particularly for the local hydrogen economy.…

Binance approves Goldman Sachs-backed stablecoin USDC

U.S-based financial firm Goldman Sachs Group Inc (NYSE:GS) is making headway into the cryptocurrency market and its recent milestone is the USDC approval by cryptocurrency exchange Binance. Circle, a Goldman Sachs-backed cryptocurrency startup created the USDC coin which is now available on Binance. This means that the cryptocurrency can be purchased, sold, sent or received through Binance. The cryptocurrency exchange revealed in a statement that it would support the currency on its trading platform including USDC trading pairs such as USDC/BTC. The statement also revealed that trading would kick off…

Every Stablecoin Has Its Points of Failure

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, you should conduct your own research when making a decision In the year of bear markets and curbed enthusiasm, stablecoins have emerged as the asset class with which many of the crypto community associate high hopes for the long-anticipated mass adoption. As these cryptocurrencies have come to be viewed as a promising tool to alleviate volatility – presumably the major hurdle in the way of digital assets becoming a vehicle of everyday transactions for…

Kraken Begins Bitcoin Cash SV Trading but Says Users Face ‘Extremely High Risk’

Major U.S. cryptocurrency exchange Kraken confirmed in a blog post Nov. 18 that it had begun supporting both forks of Bitcoin Cash (BCH), while warning traders about “many red flags.” Kraken, which initially said it would only support only one of the two BCH chains – Bitcoin Cash ABC – has at press time already launched trading of its counterpart chain, Bitcoin Cash SV (BSV). The product of a contentious hard fork of the BCH network Nov. 15, Bitcoin Cash SV currently sits at the center of controversy over BCH…

Will ICOs Continue to Drag ETH Down?

Bears hit the cryptocurrency market today, and Ethereum was among the most severe casualties. The world’s third largest cryptocurrency erased as much as $2.25 billion from its market cap. Meanwhile, its value plunged 12 percent from an intraday high at $177 to $155.60 – its new intraday low – within a few hours, according to aggregated data available at CoinMarketCap.com. Aayush Jindal, a crypto market analyst at NewsBTC, predicted further declines in the Ether-to-dollar market, citing a critical bearish trendline that is capping every upside attempt of the digital currency. SOURCE:…

Why The SEC Asking ICOs to Register their Tokens as Securities is Good for Ethereum (ETH)

This past Friday – November 16th – the Securities and Exchange Commission (SEC) released a statement announcing that they had settled charges against two firms that had carried out ICOs that fall under securities offering. The two firms that were cited by the SEC were CarrierEQ Inc. (Airfox) and Paragon Coin Inc. The settlement with the SEC included the following: Each were fined $250,000 Each were ordered to compensate harmed investors who purchased tokens in the illegal offerings Both agreed to register their tokens according to the Securities Exchange Act of…

Bitcoin Price Hits a New Yearly Low at $5,170; is $4,000 Inevitable?

Twitter Facebook LinkedIn Within a period of 12 hours, the price of Bitcoin (BTC) has dropped from $5,560 to $5,170, to a new yearly low. After dropping to $5,750 on June 11, BTC has defended the $6,000 support level relatively well with sufficient volume and trading activity in the exchange market. $6,000 has since become a major resistance level for the dominant cryptocurrencies. Is Bitcoin Headed to $4,000? Last week, Crypto Rand, a well-recognized cryptocurrency trader and analyst, stated that the next likely range for BTC is between $4,800 to…

Bitcoin Price Hits 13-Month Low as Crypto Market Slumps

Bitcoin (BTC) dropped to its lowest level since October 2017 on Monday, as losses are seen across the broader crypto market. The leading cryptocurrency fell to $5,165 earlier today – the lowest level since Oct. 18, 2017 – having breached the crucial support of $6,000 last week. As of writing, BTC is changing hands at $5,283 – down 5 percent on a 24-hour basis and 16 percent week-on-week – according to CoinDesk’s Bitcoin Price Index (BPI). Further, the year-on-year loss now stands at 32 percent, as prices were trading well above…

Crypto Investment House Launches Two New Funds for Institutional Clients

Israel’s first dedicated crypto investment firm for institutional investors, Silver Castle Ltd., has launched two new crypto funds this month, Bloomberg reported Nov. 18. The firm – whose high-profile lineup includes the former CEO of Israel’s largest bank, Bank Hapoalim, as well as the founder of the country’s largest investment fund, Psagot Ofek – reportedly expects to have $50 million in assets under management (AUM) by the end of the year. As Bloomberg notes, global competition is fierce for crypto investment funds today, with over 370 crypto-focused funds with as…