Day: May 1, 2019

Markets Update: Crypto Prices Recover as Bitcoin Cash Leads the Charge Again

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On April 25, cryptocurrency markets tumbled after the controversy between the New York Attorney General’s (NYAG) office, the stablecoin company Tether, and Bitfinex exchange. Since then, prices have slightly recovered and the entire cryptoconomy regained $4.3 billion after losing $10 billion last Thursday. Moreover, out of the top 10 cryptos by market capitalization today, bitcoin cash (BCH) leads the way by gaining more than 5% in the last 24 hours. Also read: Bitcoiners’ Seastead in Deep Trouble With Thai Government Crypto Markets Show Improvement After Last Week’s Price Dip Over…

CoinMarketCap to Remove Exchanges From Calculations If They Don’t Provide Mandatory Data

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Crypto market cap tracker CoinMarketCap (CMC) will remove exchanges from its calculations if they fail to provide mandatory data by June, the firm wrote in its sixth anniversary blog post on May 1. CoinMarketCap, a major source of data about all traded digital currencies, has made a series of announcements to celebrate its sixth birthday today. As such, CMC has announced a brand new alliance called the Data Accountability & Transparency Alliance (DATA) in order to provide “greater transparency, accountability, and disclosure from projects in the crypto space.” A broad…

Dutch Central Bank Will Keep Embracing DLT, But To-Date Findings Are Not All Positive

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The Netherlands’ central bank will continue to experiment with blockchain, but its to-date findings are “not that positive,” according to the bank’s director of payments. Finance publication The Banker reported on the comments on May 1. Petra Hielkema, director of payments and market infrastructures at the De Nederlandsche Bank (DNB), claimed that embracing new technologies such as blockchain and artificial intelligence (AI) will be a key direction in the DNB Payments Strategy 2018-2021. Hielkema urged that central banks should keep developing and invest in new technologies in order to find…

Five Canadian Banks Employ SecureKey Blockchain System to Identify Users

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Five Canadian banks will be employing a blockchain-based user identification system developed by tech startup SecureKey Technologies, Bloomberg reports on May 1. Per the report, the Verified.Me digital identity system is now available to clients of the Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Canadian Imperial Bank of Commerce and Desjardins Group. The service will soon be available to users of the services provided by the Bank of Montreal and National Bank of Canada as well, while Sun Life Financial will reportedly be the first North American…

Australia Opposition Party Promises $2.1 Mln Blockchain Academy Pending May Election Win

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Australia’s main opposition party would inject $3 million AUD ($2.1 million) into blockchain technology should it win next month’s federal election, tech news magazine ZDNet reported on May 1. Under plans previously outlined as part of its election pledges, the Australian Labor Party said it would divert the funds to set up a dedicated Blockchain Academy in the western city of Perth. “The Liberal government has failed to tackle major tech skills shortages that are holding back Australian businesses,” the publication quotes Shadow Minister for the Digital Economy, Ed Husic,…

Bitcoin Usage Spikes as BTC Price Surges 43% YTD; Bullish Indicator?

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By many measures, the past few months have been absolutely monumental for the crypto. Facebook, Samsung, HTC, among other technology giants have doubled-down on blockchain. Fidelity and E*Trade are both rumored to soon be offering spot Bitcoin (BTC) trading, as Nasdaq and the Intercontinental Exchange (through Bakkt) look to launch cryptocurrency futures. And big names in venture capital continue to throw their weight behind the industry. Related Reading: BKCM CEO: Crypto Winter Coming to an End As Bitcoin Fundamentals Turn Positive All these industry developments would be deemed moot, if…

CoinMarketCap Forms Alliance to Tackle Concerns Over Price Data Integrity

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Cryptocurrency data provider CoinMarketCap is working with major exchanges on an initiative aimed to make price data more transparent. The effort sees the firms forming a new alliance, dubbed the Data Accountability & Transparency Alliance (DATA), that will discuss ways to tackle concerns over cryptocurrency data reporting in its current state, CoinMarketCap announced Wednesday. Led by CoinMarketCap, the alliance has notable members at launch including the cryptocurrency exchanges Binance, Bittrex, OKEx, Huobi, Liquid, Upbit, KuCoin, HitBTC and Bitfinex, which will provide “in-depth suggestions” on the how to boost transparency at a…

Up 28%: Bitcoin Closes April Above Key Price Level Breached Last Year

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View Bitcoin activated twin bullish cues with a 28 percent gain in April: a falling channel breakout on the monthly chart and a close above the 21-month exponential moving average (EMA). Prices have again bounced from the historically strong 30-day moving average support, currently at $5,184. This, coupled with the bullish developments on the monthly chart indicates scope for a rally to $6,000 in the next few weeks. A UTC close below the 30-day MA at $5,184 would weaken the short-term bullish case and may allow a deeper pullback to…

Blockchain Capital Survey: Younger Generations Bullish on Bitcoin Adoption

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Results from the second survey conducted by Blockchain Capital shows people between the ages of 18 and 44 believe Bitcoin adoption will grow in the next 10 years. 88% of people across all age groups have heard of Bitcoin. Results of the Survey Blockchain Capital conducted a demographic survey for Bitcoin in April 2019; previously a survey was conducted in the midst of the bull market in October 2017. Despite Bitcoin being down nearly 75% from its all-time high, perception has improved by quite a significant margin. The survey divides…

Bitcoin Price Rise After Tether Scandal Shows End of Crypto Winter: Fundstrat

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On Tuesday, the crypto asset market began to move higher, shocking many investors across the board. As of the time of writing this, Bitcoin (BTC) is trading at $5,380, posting a 2.81% gain in the past 24 hours. Most altcoins, like Ethereum, are up even further, with Litecoin flouting a hefty 7.26% 24-hour rally. Even Tether is looking green, with USDT posting a 0.5% gain. This strong move may seem normal and mundane out of context, but according to Fundstrat’s Tom Lee, Tuesday’s rally confirms that the cryptocurrency winter might…