Day: March 13, 2019

Company Tackles Security Issues in Ethereum Smart Contracts

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A decentralized, open-source crypto platform based on the Ethereum protocol named Callisto Network offers users free-of-charge smart contract security audits. The company wants to support them in the battle against cyber criminals and help developers solve security issues in Ethereum codes. Blockchain audit One of the most common crypto crimes nowadays is hacking exchanges. According to the reports of crypto analytics companies Chainalysis and CipherTrace, cyber criminals generated around $1 billion in revenue in 2018. During the latest attacks, users lost 1.35 million Bitcoin (BTC) in the Mt. Gox hack…

Emerging Markets are Surging and Investors Could Send Bitcoin Moon-Bound

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Emerging markets and their respective currencies are on the rise, which historically has had some correlation with the price of Bitcoin. According to Morgan Stanley, the global emerging markets benchmark is expected to rise by around 8 percent in 2019, primarily due to the increase in interest in the Chinese stock market following the optimistic prospect of the trade deal. Bitcoin Vs. Emerging Markets: What’s the Correlation? In August 2018, global macro analyst Peter Tchir said that during periods of emerging market stress, cryptocurrencies like Bitcoin as a store of…

Coinbase Links User Accounts on Its Main Platform to Its Wallet App

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Cryptocurrency exchange and wallet service Coinbase has introduced a service to link users’ accounts on its main platform to its Coinbase Wallet app, according to an announcement on March 12. According to the company, Coinbase Wallet is slightly different from the main app, referred to as Coinbase.com. With the latter, a customer’s cryptocurrencies and private keys are stored by Coinbase. With Coinbase Wallet, users store their own crypto protected by their unique private keys. The exchange has explained that the wallet can now be connected to accounts on its main…

The disappointing fall of Wings DAO

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Wings made headlines in February when Binance announced that they would be delisting the project. The news came as a shock to many fans of Wings who liked its unusual take on forecasting – using smart contracts and crypto to create an ecosystem where the Wings community itself was the service. By holding tokens community members could secure the rights to rewards in exchange for accurate predictions – rewards good projects would be happy to pay to secure the attention and vetting of dedicated crypto enthusiasts. It was a novel…

Polychain, DCG Invest in Crypto Futures Exchange CoinFLEX

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Venture capital firms Polychain Capital and Digital Currency Group (DCG) have invested an undisclosed sum in cryptocurrency futures exchange CoinFLEX. Announcing the news on Wednesday, CoinFLEX said that, with the new funding, the two firms have joined its previous backers, including Trading Technologies, Roger Ver and Dragonfly Capital Partners. CoinFLEX is launching what it calls a “global, scalable and secure crypto futures exchange” that will offer physically-delivered bitcoin futures and, in future, a stablecoin-to-stablecoin futures contract. Explaining the investment, Polychain CEO Olaf Carson-Wee said: “As a physically-settled futures exchange, CoinFLEX will…

Growth of Crypto Industry Could Threaten Banks, Financial Stability: Basel Committee

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International banking authority the Basel Committee on Banking Supervision (BCBS) has issued a warning statement on crypto assets on March 13. The BCBS is a committee of banking supervisory authorities hosted and supported by the Switzerland-based Bank for International Settlements (BIS) —  an organization made up of 60 of the world’s central banks In today’s statement, the committee warned that the robust growth of the crypto industry could potentially “raise financial stability concerns and increase risks faced by banks.” The committee noted the risks were present despite the crypto market’s…

Bitcoin Price Analysis: BTC/USD is Preparing for a Big Move

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Photo: CafeCredit.com / Flickr Key Highlights: The breakup of the $4,050 Bitcoin price level will expose $4,254 resistance level; consolidation is ongoing in the BTC market; the coin may find its low at $3,774 price level. BTC/USD Medium-term Trend: Ranging Resistance levels: $4,050, $4,254, $4,692Support levels: $3,903, $3,774, $3,637 BTC/USD is moving sideways on the Medium-term outlook. The Bullish momentum that propelled Bitcoin price from the low of $3,774 could not break up the resistance level of $4,050 because of the Bear’s opposing pressure. A bearish “Harami candle” pattern formed…

Russia Adopts Digital Rights Law That ‘Forms the Basis’ of Digital Economy Development

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Russia’s parliament, the State Duma, has voted to enact new digital rights legislation in October this year, according to a press release on the Duma’s official website on March 12. The changes to Russia’s civil codex passed their third and final Duma reading on Tuesday. The law reportedly establishes the concept of “digital rights” in Russian legislation with the addition of a new article, 141.1, of the Civil Code of the Russian Federation. The law determines how digital rights can be exercised and transferred, as well establishes rules for digital…

Bitcoin Price Trapped in Key Make-or-Break Trading Range

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View Bitcoin is trapped in a trading range defined by the 200-week simple moving average and the 200- week exponential moving average, currently at $3,404 and $4,106, respectively. Therefore, the outlook as per the weekly chart is neutral. A weekly close (Sunday, UTC) above $4,106 would confirm a longer-term bearish-to-bullish trend change and could fuel a rally toward $5,000. A weekly close (Sunday, UTC) below $3,404 could revive the sell-off from November highs above $6,500 and allow a drop to levels below $3,000. The odds of a drop to the…

Crypto Exchange Bittrex International to Host Its First Public ‘Initial Exchange Offering’

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Crypto exchange Bittrex is hosting its first token sale — dubbed an Initial Exchange Offering (IEO) — on Bittrex International, its Malta-based digital asset trading platform. The news was announced in an official press release published on March 11. Bittrex International, which operates within an EU and Maltese crypto regulatory framework, will officially start the IEO on Friday, March 15, the press release announces. Bittrex users will be able to use Bitcoin (BTC) to purchase “XRD” tokens, developed by international gaming data blockchain project Raid. According to the press release, Raid…