Day: February 19, 2019

Funds in Short Positions on Bitcoin Drop to 6-Month Low

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The amount of money allocated to short bets against bitcoin fell to a more than 6-month low during Tuesday’s trading session, data from the popular cryptocurrency trading platform Bitfinex reveals. At 13:00 UTC today, the total funding in BTC shorts, or positions that would profit from a decline in the price of the underlying bitcoin asset, fell beyond the recent low of 18,992 BTC set this past November to reach 18,888 BTC – the lowest amount seen since Aug. 4, 2018. The development comes a day after bitcoin’s price increased…

Top Ethereum Developer Afri Schoedon Just Rage-Quit

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Afri Schoedon, a long-time Ethereum contributor, abruptly quit working on the second-largest cryptocurrency. A few days ago, Schoedon tweeted a meme that said “Polkadot delivers what Serenity ought to be. Change my mind.” The meme raised ire on Reddit, and the situation devolved from there until the developer quit early this morning. I did not quit social media, I quit Ethereum. I did not go dark, I just left the community. I am no longer coordinating hard-forks, building testnets, or contributing otherwise. I did not work on Polkadot, I never…

Ripple (XRP) Bears?…Prices up 11.1% But Yet to Close Above Key Liquidation Level

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  Ripple prices up 11.1 percent but technically bearish Crypto–Fiat bridges important for XRP and crypto Transaction levels up, volumes lower than Jan 10   Despite upbeat prices, Ripple (XRP) is technically bearish and yet to breach the 35 cents mark. From our previous XRP/USD iterations, once bulls find momentum and pump prices above 35 cents risk-off traders can begin making projections with first targets at 60 cents. Ripple Price Analysis Fundamentals Crypto may be risky for some governments, but things are beginning to change. As some view them as…

Cyprus Securities Regulator Calls for Adoption of EU Anti-Money Laundering Framework

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The Cyprus Securities and Exchange Commission (CySEC) is calling for the transposition of the European Union (EU)’s Fifth Anti-Money Laundering (AML) Directive (AMLD5) into national law — bringing local regulation of cryptocurrencies under its provisions. CySEC’s announcement and consultation paper on the matter were published on Feb. 19. Тhe directive, which came into force on July 9, 2018, sets a new legal framework for European financial regulators to monitor crypto-related businesses and service providers in order to protect against money laundering and terrorism financing. Specifically, the directive extends the scope…

Inside Nvidia’s Difficult Relationship With Mining

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On Feb. 14, California-headquartered gaming and computer hardware manufacturer Nvidia reported full-year revenue gains in 2018, despite being one of the companies worst hit by the cryptocurrency market dip and subsequent lack of demand for mining components. The firm’s main products include graphics processing units (GPU), among others, which became widely purchased by miners during the crypto boom of 2017 — as a result, the firm’s revenue started to correlate with the crypto market condition (at least to some extent), which resulted in a few shake-ups.   2017: Nvidia enjoys…

Bitcoin (BTC) Resurgence, Adoption and Regulator Shift Likely Triggers

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  Bitcoin prices up 8.3 percent in the last week Adoption levels could be pumping prices Transaction volumes on the rise   Good news is bulls are back. Even with increasing prices, investors and traders have their eyes set on adoption trends. Encouragingly, adoption is on the rise, and now that our previous Bitcoin (BTC) trade plans are live, odds are the next wave of bulls will drive prices towards $6,000. Bitcoin Price Analysis Fundamentals There is an expansion. It seems like the precipitous rise and eventual fall of BTC…

Major Crypto Exchange OKEx Adds Four New Margin Trading Pairs

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Malta-based cryptocurrency exchange OKEx has added four new crypto derivative pairs to its platform, according to a press release shared with Cointelegraph on Feb. 19. OKEx, the third-largest crypto exchange by trade volume, has announced the listing of Bitcoin SV (BSV), QTUM, DASH and NEO against Bitcoin (BTC) or Tether (USDT) on margin with a 3x leverage option. Last month, OKEx added seven new crypto derivative pairs to its platform, including Bitcoin Cash (BCH), Bitcoin SV (BSV), EOS (EOS), Ethereum Classic (ETC), Ethereum (ETH), Litecoin (LTC) and Ripple (XRP), as…

Fintech Company TrueDigital Appoints Former Bridgewater Associates Executive as CEO

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New York-based fintech company TrueDigital Holdings (TDH) announced the appointment of former Bridgewater Associates chief operating officer Thomas Kim as its new CEO through a post on its website on Feb. 19. Before his time at Bridgewater Associates, which had almost $125 billion assets under management in 2018, Kim worked at now-defunct global financial services firm Lehman Brothers in charge of the Townsend Analytics Electronic Trading franchise. According to today’s post, Kim will manage TrueDigital’s existing initiatives, such as the launch of Bitcoin (BTC) swaps planned for this year. In…

Ethereum Mining Pool Receives Mysterious $300K Blockchain Payout

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Ethereum mining pool Sparkpool received a payout of over 2,000 ETH (worth $300,000) just for mining one block on the ethereum blockchain Tuesday – a figure that’s about 600 times the network’s standard block reward. Miners who secure blocks are programmed to be awarded 3 ETH (about $500) for every new transaction block added to the ethereum blockchain. On top of this, there is also a small payout attached to transactions incentivizing miners to validate and include new transactions into a mined block. Yet, with only 210 validated transactions, Sparkpool received 2,103.1485…

CEO of Japanese Finance Giant SBI Vests His Crypto Industry Hopes in Ripple and R3

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Yoshitaka Kitao, CEO and representative director of Japanese financial services giant SBI Holdings, has singled out Ripple (XRP) and blockchain consortium R3 as reasons to remain optimistic about the future of the crypto industry — bear market notwithstanding. Kitao made his remarks during an interview with Japanese crypto news outlet Coin Post on Feb. 18. SBI Holdings is an active partner of Ripple via their joint venture, “SBI Ripple Asia,” established to promote the use of XRP in Asian financial markets back in 2016. In his interview with Coin Post,…