Coinbase-Backed Stablecoin Claims Rivals Deceptively Pump Market Cap

Touted as the next big thing in crypto, stablecoins promise investors volatility-proof exposure to decentralized assets, but insiders say that this emerging asset class is vulnerable to the same manipulative practices that have tarnished the broader ecosystem. According to Nevin Freeman, chief executive officer of Reserve, a Coinbase-backed stablecoin, many of his rivals artificially inflate their market caps and trading volumes, creating misleading data on crypto-tracking sites like CoinMarketCap and The Stablecoin Index. Freeman identified two dubious tactics used by stablecoin operators to pump their metrics: giving discounts to investors…

Bitcoin Account Accuses Twitter of Shadow Banning to Restrict Its Reach

On March 23, the Twitter handle @Bitcoin became mired in controversy after BTC supporters complained about the account and attempted to get the profile shut down. The operator of the Bitcoin Twitter profile has also accused the social media platform of manipulating matters by placing restrictions on the account and limiting its overall traffic. Also read: Bitcoin and the Agora: Every Transaction Outside the Nexus of State Control Is a Victory The Relentless Attempt to Silence a Twitter Handle The owner of the Twitter handle @Bitcoin believes the account is…

Bitcoin Basher Agustin Carstens Rails Against Central Bank Crypto Plans

Agustin Carstens, Bank for International Settlements (BIS) general manager and a noted bitcoin critic, has said that the launch of central bank-backed crypto assets could undermine financial stability. During his speech at the Central Bank of Ireland, the BIS official said: “There are huge operational consequences for central banks in implementing monetary policy and implications for the stability of the financial system. Central banks do not put a brake on innovations just for the sake of it. But neither should they speed ahead disregarding all traffic conditions.” Considering the role…

Changes to Tether’s Terms of Reserves Raises Fresh Concerns

Controversial stablecoin Tether is in the spotlight again after changes to the details of the way in which it backs up tokens in supply. As reported on March 14, various online users noted and posted disconcerting changes to the Tether website, which have seemingly altered the way that the company is providing surety for the tokens it issues. Tether is a stablecoin backed up by the United States dollar at a 1:1 ratio, meaning the company has $1 for every USDT that is in circulation. This has long been a…

Bitcoin (BTC) trading volume clarity actually brings ETFs nearer

Research by Bitwise Asset Management rocked the crypto industry this week, after it concluded that 95% of reported bitcoin trading volume is fake. However, that might not be such a bad thing as it may encourage the industry to clean up its act and traders to shun dishonest exchanges. San Francisco-based Bitwise is a respected player in the space having brought the first crypto index fund to market and its Bitwise 10 Index, which tracks large cap crypto, is widely followed. In January it announced that it had submitted a…

Is Ripple (XRP) Crumbling? ETH Gap Widens to $1.5 Billion

Ripple prices down three percent from last week’s close Price surges depend on xRapid adoption Participation levels low and almost half that of Feb 24 At third with a market cap of $12,861 at the time of press, Ripple (XRP)—like the rest is under pressure. However, this has been compounded by regulatory uncertainty which is likely to be clarified next year. If the SEC has reason to classify XRP as a utility with no central control, prices will surge towards Sep 2018 highs at 80 cents. Ripple Price Analysis Fundamentals…

Litecoin Boom Past $60 Could Set Bitcoin (BTC) Up For A Surge

Sure, Litecoin (LTC) has been receiving some flak as of late, but there’s no denying the surge the cryptocurrency has undergone in recent months. One analyst argues that the rally in that specific asset could be setting Bitcoin (BTC) up for an eventual recovery, citing eerie similarities in the two assets’ price action. Related Reading: Crypto Bull Returns, Predicts Targets For Bitcoin, Ethereum, Ripple, Litecoin Litecoin Rallies Into Halving In mid-December, LTC was trading at a mere $23. But since that December 14th, which many saw as the bottom for…

Bitcoin Holds Just Over $4,000 as Top Cryptos See Slight Losses

Sunday, March 24 — most of the top 20 cryptocurrencies are reporting slight losses on the day by press time, according to data from CoinMarketCap. Bitcoin (BTC) is down just over a tenth of a percent on the day, trading at around $4,021, according to CoinMarketCap. Looking at its weekly chart, the current price is just over a quarter of a percent lower than $4,036, the price at which Bitcoin started the week. Bitcoin 7-day price chart. Source: CoinMarketCap On March 18, the option to donate Bitcoin, along with eight…

Will Bitcoin Shine? After Ponzi Jab, BIS Boss Says CBDC Destabilizing

Bitcoin price under pressure Carstens of BIS against central bank digital currencies (CBDCs) Volumes low and drop below or above Mar 21 high-lows must exceed 13k According to BIS’s Carstens, central banks shifting to CBDCs will destabilize the economy. However, that is not stopping some central banks from experimenting with them. Meanwhile, Bitcoin (BTC) is under pressure and could drop to $3,500—800 zone in days ahead. Bitcoin Price Analysis Fundamentals True, we cannot ignore the effects of digitization. It is broad and profound. We expect the rate of digitization to…

Time to Wake the F*** Up?

Hands up, anyone who is surprised that a little-known crypto exchange that apparently had the largest bitcoin trading volume on CoinMarketCap has been exposed as a wash trading scam platform. In the world of crypto where apparently everyone made it to Lamboland during the 2017 bull run, and absolutely everybody knew when to sell, no one will admit that they have been played. Since Bitwise published its investigation two days ago showing that at least 95 percent of all bitcoin trading volume is faked on unregulated exchanges, the standard refrain…