Day: December 17, 2018

Coinbase Adds Crypto-to-Crypto Trading for Retail Customers

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Coinbase users can begin trading cryptocurrencies directly with other cryptocurrencies, the exchange startup said Monday. The company is adding support for crypto-to-crypto trading for its retail customers, adding a feature that has long been available to professional cryptocurrency trading services, said product manager Anna Marie Clifton. Users on Coinbase.com, as well as the Android and iOS apps, will be able to begin trading bitcoin pairs in the coming days through the new feature, called Coinbase Convert. She told CoinDesk that while trading pairs are “a pretty common paradigm in the…

Securities Regulator Suspends Two Crypto Firms for Alleged Scam Investment Schemes

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The Italian securities regulator, CONSOB, has suspended two projects for allegedly offering fraudulent crypto investment schemes. The 90-day suspensions were reported in an official statement on the CONSOB website published Monday, Dec 17. The Italian Companies and Exchange Commission, or Commissione Nazionale per le Società e la Borsa (CONSOB), is the Italian analogue of the United States Securities and Exchange Commission (SEC) and represents a governmental authority that regulates the Italian securities market. Both firms suspended by CONSOB, Bitsurge Token and Green Energy Certificates, are allegedly scam projects from the…

Cryptocurrency regulations in Hong Kong to take a fresh twist

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Instead of going down the path followed by mainland China of completely banning crypto activities, Hong Kong is set to develop new cryptocurrency regulations that will affect commercial crypto activities within its borders. Previously, Hong Kong had been a preferred destination for those seeking to issue initial coin offering among other commercial activities. However, its lenient stand on crypto related activities is making the financial watchdog in Hong Kong to think of providing stringent cryptocurrency regulations to govern the space. According to Hong Kong’s financial regulator, the Securities and Futures…

Teen Bitcoin Millionaire Erik Finman Proclaims Bitcoin Is ‘Dead’ Long-Term

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Teen crypto star Erik Finman has said Bitcoin (BTC) “may have a bull market or two left in it,” but that “long-term, it’s dead,” in an interview with financial news site MarketWatch on Dec. 17. Finman is famous for his precocious investment in Bitcoin back in 2011, when he reportedly bought in — at the age of twelve — at $12 a coin. The high-schooler’s $1,000 gift from his grandmother thus became over $4 million during the cryptocurrency’s 2017 all-time-price-highs. Finman sealed further fame by notoriously winning a bet with…

Iranian Official Believes Blockchain Can Drive Economic Growth

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According to an Iranian official, the integration of blockchain technology and cryptocurrencies could provide a much-needed boost to the country’s economy, per reports on the Tehran Times. Alireza Daliri, a Deputy for Management Development and Resources at the Vice Presidency for Science and Technology, stated that blockchain technology could provide Iran with a platform to coordinate with her international partners all over the world, adding that, over 100 countries were already reaping the benefits of its wide range of applications. While also acknowledging the certitude about the countries that have…

Over 400,000 ETH Left ICO Team Wallets in the Past Thirty Days, Data Shows

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Initial coin offerings (ICO) have been transacting Ethereum (ETH) at breakneck speed, with over 400,000 ETH moving out of wallets in the past 30 days alone, according to data from crypto assets data and software development firm Santiment published Dec. 17. Ethereum moved out of ICO teams’ wallets Nov. 18 – Dec. 17 2018. Source: Santiment Santiment’s data sample notably does not track the ETH “all the way to exchanges,” with the metric therefore not a hard and fast confirmation that the ETH has necessarily subsequently been sold: Santiment thus…

Report Claims Over 80 Percent of Top 25 BTC Trading Pair Volumes on CMC Are Wash Traded

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A new report from data researchers at the Blockchain Transparency Institute (BTI) claims that the majority of the top 25 Bitcoin (BTC) trading pairs listed on CoinMarketCap (CMC) are based upon “grossly” inflated false volumes. The researchers’ findings for December were published in BTI’s “Exchange Volumes Report” on Dec. 13. BTI presents its report as “a deeper dive into specific trading pairs on exchanges which are showing clear evidence of wash trading.” The data has reportedly been compiled by using algorithms to analyze volume data points and order books, as…

No Christmas Rally in Sight as Bitcoin Drops Another 8 Percent: BTCManager’s Week in Review Dec 17

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For investors who were hoping for a year-end rally to take out of a dark red year in the crypto markets disappointment looks imminent. The price of bitcoin dropped by another five percent week-on-week to continue its decline since mid-November 2019.  As a result, more and more bitcoin miners are switching off their machines as the digital currency is trading at a level where it is no longer profitable for operations that do not have access to cheap electricity and do not possess the economies of scale to weather this bear…

Tether Briefly Enters Top Four Cryptocurrencies, EOS Spikes by 21%

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For a short time yesterday, the Tether stablecoin (USDT) hit 4th place by market capitalization in the cryptocurrency charts. Today Bitcoin (BTC) and other altcoins are showing green. EOS is back in 4th place with a sudden 21% hike, and Stellar (XLM) is now in 5th place with a near 9% price increase. At one point, it appeared that investors were selling out of their stablecoin holdings with some gusto. Tether’s market capitalization drops back to $1.85 billion, before rising: Tether Market Capitalization: Source CoinMarketCap Given the outstanding controversy surrounding…

BTC rises above $3,400 on it’s biggest daily rise in three weeks

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The flagship cryptocurrency jumped by more than 6 percent in value as it nudged close to its best level since November 28. As of 14:30 GMT, bitcoin was trading at $3,403.03 and was up 6.07 percent, according to Coindesk. The surge saw bitcoin claw back losses recorded last week after BTC was dragged below $3,200. Bitcoin has fallen around 80 percent from its record high last December, with BTC tumbling nearly 50 percent in the last three months alone. The value of bitcoin peaked at almost £15592.50 ($20,000) this time…