Day: May 13, 2019

Paxos Now Allows for Instantaneously Redeeming Unlimited Amounts of PAX for USD

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The company behind the Paxos Standard (PAX) stablecoin announced that its users can now instantaneously redeem unlimited amounts of its tokens for United States dollars. The development was described in a blog post published on May 13. Per the announcement, every PAX deposited on the company’s platform can now be immediately sent as USD to a bank account without minimal redemption requirements or fees for deposits or withdrawals. The company claims: “We launched PAX with a 1 day redemption window, which was groundbreaking. Then we moved to four-hour windows. Now,…

Charles Hoskinson to Launch Security Token Blockchain With Polymath

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Security token platform Polymath will build a separate blockchain for regulation-compliant tokens with an Ethereum (ETH) co-founder, the company confirmed in a blog post on May 13. Polymath, which has already contributed to the launch of over 100 security tokens, will now work with Charles Hoskinson on a new project dubbed Polymesh. Hoskinson, who after Ethereum became known for his subsequent cryptocurrency projects Cardano (ADA) and IOHK, will leverage his expertise to inform the development of the new platform. The partners confirmed the plans at the ongoing Consensus 2019 conference…

Hedge Fund Bitcoin Buying Spree Accelerated 2400% in Q1: Grayscale

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By CCN: The bitcoin price enjoyed a wildly-bullish start to 2019, and the flagship cryptocurrency’s winning streak shows no signs of letting up anytime soon. Hedge Funds Headline 42% Increase in Grayscale Inflows While cryptocurrency remains a retail-dominated market, data from investment firm Grayscale reveals that institutional investors continue to ramp up their exposure to the asset class. And according to the firm’s newly-published first-quarter Digital Asset Investment Report, last quarter saw a massive surge in investments from one particular type of institutional investor: hedge funds. Bitcoin price charts haven’t…

Important Reaction of Ripple (XRP) From Q1 2019 Lows, Add 6.4 Percent

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Ripple (XRP) react from 30 cents, add 8.1 percent Supportive fundamentals would likely fan the next wave of higher highs At long last, Ripple (XRP) is responding. Because of bullish fundamentals, there are a series of higher highs in the daily chart that hint of increasing demand in lower time frames. All the same, it is until prices print above 34 cents that traders can begin loading on dips with ideal targets at 80 cents. Ripple Price Analysis Fundamentals To reiterate, cryptocurrencies must find their way main-street if investors want…

Flexa Launches App Where Shoppers Can Spend Crypto at 15 Major US Retailers

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Payments startup Flexa unveiled an app where consumers can spend cryptocurrencies at major American retailers. The app was unveiled during the first day of the Consensus conference in New York City on May 13. Tyler Spalding, the company’s co-founder, announced to attendees that Spedn is already live — and an accompanying news release confirmed that Barnes & Noble, Bed Bath & Beyond, GameStop, Lowe’s, Nordstrom, Office Depot and Whole Foods Market are among the stores now accepting payments via the Flexa network. Spalding stated that Spedn’s goal is to make cryptocurrencies spendable everywhere…

Huge! Amazon-Owned Whole Foods Buoys Crypto by Accepting Bitcoin

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By CCN: There’s no shortage of possible catalysts behind the spike in the bitcoin price is. You can now add Jeff Bezos’ Amazon to the list. Whole Foods, which is owned by the e-commerce behemoth, is now accepting bitcoin as a payment method. The mind-blowing development was made possible thanks to a deal between payments startup Flexa and Gemini, the latter of which is the crypto exchange launched by Tyler and Cameron Winklevoss. Users only need to download an app dubbed Spedn and can make everyday purchases using cryptocurrencies including…

$7,900: Bitcoin’s Price Extends Gains to Hit 9-Month High

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The price of bitcoin (BTC) surpassed $7,900 today, jumping 16 percent in the process to reach a high not seen in more than nine months. Bitcoin (BTC), with a market capitalization that now accounts for 59.8 percent of the total cryptocurrency market, jumped 16 percent from its opening price of $6,800 to reach $7,889 at 15:10 UTC – its highest price since July 31, 2018, according to CoinDesk’s price data. The data further shows that a high of $7,946.01 has been reached during Monday trading. Now trading a $7,805.10, current figures represent…

$7,900: Bitcoin’s Price Extends Gains to Hit 9-Month High

boss

The price of bitcoin (BTC) surpassed $7,900 today, jumping 16 percent in the process to reach a high not seen in more than nine months. Bitcoin (BTC), with a market capitalization that now accounts for 59.8 percent of the total cryptocurrency market, jumped 16 percent from its opening price of $6,800 to reach $7,889 at 15:10 UTC – its highest price since July 31, 2018, according to CoinDesk’s price data. The data further shows that a high of $7,946.01 has been reached during Monday trading. Now trading a $7,805.10, current figures represent…

Bakkt to Roll Out First Bitcoin Futures Testing in July 2019

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Bakkt plans to roll out testing for bitcoin futures trading in early July 2019, Bakkt CEO Kelly Loeffler announced in a Medium post on May 13. First announced in August 2018, institutional crypto exchange Bakkt now announced that it will soon introduce bitcoin futures trading testing on a federally regulated futures exchange in collaboration with its parent company Intercontinental Exchange (ICE). Specifically, Bakkt is working with both ICE Futures U.S. exchange and ICE Clear U.S. clearinghouse to prepare the first testing of bitcoin futures trading and custody. Loeffler wrote: “In…

Almost 12% of US Cryptocurrency Holders Are Long-Term Investors

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Almost 12% of crypto holders are long-term investors, according to a survey shared with Cointelegraph on May 13 by HBUS, the operator of United States-based cryptocurrency exchange Huobi. The company reportedly surveyed 1,067 American participants between March and April this year, finding that 19.58% of people with an income higher than $99,000 per year are actively holding cryptocurrency. Still, people earning between $125,000 and $149,000 are the most likely to invest in crypto assets, according to the survey. The report also claims that in 2018, 8% of the respondents invested…