December 6, 2018

Swiss Post & Swisscom Launch ‘100% Swiss’ Blockchain Infrastructure

December 6, 2018 boss

Switzerland’s national postal service Swiss Post and state-owned telecoms provider Swisscom are partnering on a “100 percent Swiss” blockchain infrastructure, according to a press release Dec. 6. The new infrastructure is reportedly the first private, or permissioned, blockchain to be operated jointly by two entities; its key premise is to provide a service that retains all data within Switzerland, and that can meet the security requirements of banks. The companies, both of whom already implement in-house blockchains for different purposes, have revealed their new common infrastructure will be based…

Is Bitcoin Cash (BCH) Entering Death Spiral?

December 6, 2018 boss

The Bitcoin Cash price continues to record new yearly lows, currently trading within its fifth consecutive session in the red. The BCH/USD rate has dropped below $120 in the latest sell-off, noting more than 97% depreciation since its all-time high. Since November 7, when the pair was trading at $638, it has tanked more than 81% in value. In comparison to other cryptocurrencies that also established their yearly lows recently, the price plunge in the Bitcoin Cash market is more severe. Source: CoinMarketCap.com Collateral Damage The reason why investors are…

Crypto Company Offering Virtual ATMs Hits New Daily Highs — And Aims to Take on Square

December 6, 2018 boss

A crypto company that enables thousands of retailers to function as virtual ATMs for an array of cryptocurrencies has recently processed its largest single transaction to date, valued at over $3.44 million. Netcoins, which is aiming to simplify the process of buying and selling crypto by offering the public a trustworthy source for making purchases, says its performance has been strengthening — even despite the recent turbulence seen in the market. Mark Binns, the company’s CEO, said, “Despite the bear crypto market that is upon us, Netcoins continues to…

Bitcoin, Ether, and XRP Weekly Market Update: December 6, 2018

December 6, 2018 boss

During the last seven days, the total crypto market cap lost another $14 billion of its value. Bitcoin managed to avoid dropping below the $3,800 level but could not reverse the overall bear market trend. BTC-USD Bitcoin closed above the previous support at $4,300 (at $4,320) on November 29, 2018, marking its second day of gains. It was not able to keep up the momentum and erased $300, or seven percent, of its value on November 30. The BTC-USD trading pair almost fell below the psychological level of $4,000 before…

Report: Crypto Market To Consist Of 66% Bitcoin in 2019

December 6, 2018 boss

Bitcoin has long been at the forefront of the crypto market, dominating this 10-year old industry with an iron fist and no holds barred. While it maintained its unquestioned hegemony over the cryptosphere for nearly a decade, as 2017 began, it became clear that something was amok. More specifically, in an industry first, altcoins began to drastically gain in terms of market dominance. By the end of April 2017, altcoins made up 40% of crypto’s entire market capitalization, up from the 12% seen in January. And just eight months later,…

Bets On Bitcoin Price Decline Hit 6-Week High

December 6, 2018 boss

The pessimistic sentiment around bitcoin prices saw the number of shorts hit a six-week high on Thursday. The BTC/USD short positions on the cryptocurrency exchange Bitfinex jumped to 37,891 – the highest level since Oct. 15 – and were last seen at 36,996. Notably, shorts have risen by 95 percent in the last three weeks, accompanying BTC’s recent drop to 14-month lows near $3,500. More importantly, the short positions remained elevated above 35,000 during BTC’s oversold bounce from $3,500 to $4,400 and climbed to fresh multi-week highs on Thursday. Further, the…

Top Exchange Binance Announces ‘SAFU’ Hackathon, Conference in Singapore

December 6, 2018 boss

The world’s largest cryptocurrency exchange, Binance, has announced that it will host the company’s first conference, according to a press release shared with Cointelegraph Dec. 6. Binance Blockchain Week is scheduled to be held in Singapore this January and is to include two major events –– the conference itself, along with a two-day “first-ever Binance SAFU (Secured Assets For Users) Hackathon,” according to the press release. As its name indicates, the hackathon reportedly focuses on developing blockchain-based tools for securing crypto assets. Binance CEO Changpeng Zhao, better known as CZ…

BitGuild Moves the Bitizens Gaming DApp From Ethereum (ETH) to Tron (TRX)

December 6, 2018 boss

In a tweet on the 25th of November, Justin Sun had urged Ethereum (ETH) developers to migrate their tokens and projects to the Tron (TRX) platform. His tweet went on to explain why they should do so. In bear market, #Ethereum developers should migrate your token to #TRON immediately. 0 transaction fee, no gas in #TRX. Compatible to #ETH, 0 migration cost. 2000 TPS. #TRON dex listing. You can easily increase your token value 100% with High liquidity. BitGuild Migrates the Bitizens Gaming DApp from Ethereum to Tron One such…

Pump and Dump Schemes have Negligible Effect on Crypto Markets

December 6, 2018 boss

A study by the Massachusetts Institute of Technology has revealed that machine learning can identify crypto pump and dump schemes before they happen. It arrived at a figure generated by fraudulent trading which is a tiny fraction of the total trade volume. $7 Million Monthly Volume From Pump and Dumps The study went on to reveal that there are at least two pump and dump schemes per day which generate $7 million in trade volume per month. NewsBTC’s daily crypto market wrap often identifies a random altcoin that is pumping…