Day: March 3, 2019

Most Top Cryptos See Minor Losses as Bitcoin Hovers Over $3,850

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Sunday, March 3 — the top 20 cryptocurrencies are reporting minor losses on the day to press time. Bitcoin (BTC) is hovering just over the $3,850 mark again, according to Coin360 data. Market visualization from Coin360 At press time, Bitcoin is down a fraction of a percent on the day, trading at around $3,853, according to CoinMarketCap data. Looking at its weekly chart, the current price is nearly half of a percent lower than $3,870, the price at which Bitcoin started the week. Bitcoin 7-day price chart. Source: CoinMarketCap The day before…

Elon Musk’s Complex Relationship With Crypto

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Last week, technology entrepreneur and Tesla CEO Elon Musk said that Bitcoin’s (BTC) structure is “quite brilliant,” adding that digital currency is “a far better way to transfer value than pieces of paper.” Notably, that was perhaps the most straightforward comment on cryptocurrencies and blockchain from Musk so far, as he normally tends to avoid the topic. However, there have been a few encounters between the tech mogul and crypto to date — after all, given Musk’s previous experience at PayPal, he couldn’t pass up the innovative digital payment method.…

QuadrigaCX Reportedly Stored ETH on Kraken, Bitfinex and Poloniex, Research Finds

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Cryptocurrency exchange QuadrigaCX probably stored a significant quantity of Ethereum (ETH) in other crypto exchanges, according to new evidence. This claim was made in a report published by crypto research and consulting platform ZeroNonCense on Feb. 28, which obtained corroborating information from Kraken CEO Jesse Powell and MyCrypto CEO Taylor Monahan. More precisely, the author of the report reportedly “believes that there is a very strong possibility” that nearly 650,000 ETH belonging to QuadrigaCX were stored on the Kraken, Bitfinex and Poloniex crypto exchanges during QuadrigaCX’s operations. The report claims…

Bitcoin Price Plunge to $1,000 is Possible, Say Traders; Could it Happen?

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Since January, for over two months, Bitcoin has remained in a relatively tight price range from $3,200 to $4,000, unable to break out of key resistance levels above $4,200. Similarly, from September to November, in an identical time frame, Bitcoin maintained low volatility in the $6,100 to $6,700 range. Bitcoin 2-Year Chart (Source: Coinmarketcap.com) The last time the dominant cryptocurrency showed an extended period of stability, it dropped from the $6,000 region to $3,122, by nearly half. Some traders have suggested that BTC could become vulnerable to a similar downside…

ETH Is a Solution to Bitcoin’s Limited Functionality

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Ethereum (ETH) co-founder Vitalik Buterin has stated he was trying to solve Bitcoin’s (BTC) limited functionality with the creation of Ethereum, according to an interview with Business Insider published on Feb. 28. During the interview, Buterin compared Bitcoin to a plot key calculator, stating that it does one thing and it does it well, while he believes Ethereum is more like a smartphone, which can run apps capable of doing almost everything, including acting as a plot key calculator. Buterin concluded by defining his solution in a single sentence: “So…

Exchange Users Respond to Acquisition of a Firm Run by Former Spyware Developers

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Last week, Coinbase announced that it had acquired Neutrino, a blockchain intelligence startup, which at first seemed like a regular purchase for the ever-growing United States cryptocurrency exchange. However, soon the crypto community learned that Neurino’s key staff are directly affiliated with Hacking Team, a controversial information technology outfit that sells offensive surveillance capabilities to governments, law enforcement agencies and corporations across the world. A hashtag #DeleteCoinbase has been launched as a result, prompting users to cut ties with the platform. However, some clients have since reported that they are…

Ripple XRP Says The Revolution Will Be Televised

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Ripple’s regular movement of funds from its escrow wallet to a hot wallet is always noted by crypto whale watchers, such as Whale Alert, which tracks large movements of coins. Ripple conducts a transfer at the beginning of every month and usually returns a large portion of XRP back to escrow. They are authorized by smart contract to use the whole amount if necessary, but prices have been kind to them in recent years. Here’s a tweet from Whale Alert this morning: 841 #BTC (3,265,958 USD) transferred from #Bitfinex to…

Bitcoin Price Spiked 11% in February But Could Tank & Hit New Lows

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The bitcoin price posted its first monthly gain in February after a dismal seven-month drought. However, technical analysis suggests the original cryptocurrency could crater to new lows because a downtrend appears to be forming. Bitcoin Price Spiked 11% In February Mati Greenspan is a senior market analyst at Tel Aviv-based crypto trading platform eToro. He told Bloomberg that February’s 11% spike in the bitcoin price is encouraging, but it isn’t out of the woods yet. Greenspan noted that trading volume has rocketed to a 12-month high. After six months in…

Goldman Sachs-Backed Crypto Payments Startup Circle Seeks $250M in Funding

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Goldman Sachs-backed cryptocurrency finance firm Circle is reportedly looking to raise $250 million of funding in a combination of equity and debt. The source of information are claims made by an anonymous person familiar with the company’s plans, as cited in a report by technology news website The Information on March 2. According to the article, Circle — which generates revenue from trading fees on its cryptocurrency exchanges (Poloniex and the institutional offering Circle Trade) — has seen a decrease in its proceeds after the overall crypto market crash lead…

As the Blockchain Hype Dies, Why Should We Care About Practical TestNets?

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The blockchain era has largely been defined by grandiose promises and ambitions, but little to show for it. For most companies, even those that successfully complete ICOs, we usually hear loud guarantees of life-changing and revolutionary technology. In the end, however, these “game-changers” end in the same place most others do, the dustbin of history. Reports of a vast majority of blockchain projects fizzing out or simply vanishing have become common, and those applications still around are forced to shoulder the burden and standard of the industry. In this climate,…