Day: May 16, 2019

Huobi Unveils Regulated Crypto OTC Trading

boss

Cryptocurrency exchange Huobi Group launched a regulated, over-the-counter or OTC trading desk for both institutional and individual clients with large trading volumes. Huobi OTC Desk, the new OTC crypto trading platform, is built on Distributed Ledger Technology or DLT license issued by Gibraltar Financial Services Commission or FSC. The service is not intended for users in the United States. The service, provided by Huobi Technology (Gibraltar) Co., Ltd, enables both crypto-to-crypto and fiat-to-crypto transactions. These include those made in US dollars, British pound sterling, and euros for Bitcoin, Ethereum, among…

Bitcoin Sees Discrete Losses as Most Top Cryptos See Gains

boss

Thursday, May 16 — most of the top 20 cryptocurrencies are reporting moderate gains on the day by press time, as bitcoin (BTC) has fallen below the $7.900 mark again. Market visualization courtesy of Coin360 Bitcoin is over 1.5% down on the day, trading at $7,899 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin is up nearly 23%. Bitcoin 7-day price chart. Source: CoinMarketCap As Cointelegraph reported yesterday, new data suggests that bitcoin’s growth is explained by its maturation as an asset based on conversations surrounding…

Reserve Bank of India Urged to Reconsider Banning Crypto From Regulatory Sandbox

boss

Lobbying groups are urging the Reserve Bank of India (RBI) to allow crypto-related products to be tested in its regulatory sandbox, Indian daily The Economic Times reported on May 16. The RBI’s proposed framework, unveiled last month, would allow blockchain technology to be tested on a small number of consumers — but cryptocurrencies, exchanges and initial coin offerings are excluded. Nasscom, a trade association of Indian IT companies, is calling for the regulator to rethink, and argues the RBI would better understand the risks associated with crypto by including it in the sandbox. The organization…

Just 376 Whales Own 33% of All Ether, Valued $9 Billion

boss

By CCN: A recent study by Chainalysis Inc. found that just 376 people in the world own one third of all the Ether cryptocurrency there is. For comparison the company says 448 people own 20 percent of all Bitcoin. The study also looked at the effect that cryptocurrency “whales,” with out-sized stakes in the limited supply of highly sought after coins, have on Ether prices. They found the effect of whales on Ether’s price is minimal. Chainalysis senior economist Kim Grauer says: “The majority of whales aren’t traders. They’re mostly…

World Bank Leads Secondary Market Phase of Bond-I Blockchain Bond

boss

The World Bank and Commonwealth Bank have successfully enabled secondary market trading of a blockchain bond, the institutions confirmed in a press release on May 15. The bond, known as bond-i, uses the Ethereum (ETH) blockchain and was the first in the world to leverage the technology fully when it debuted in August last year. Now, a three-way partnership which also included market maker TD Securities delivered what the participants consider a similar first and a further metamorphosis for blockchain bonds. “Enabling secondary trading recorded on the blockchain is a…

Crypto Platform Will Allow Workers to Receive Salary They Are Owed on Demand

boss

A crypto-focused payment platform says it is aiming to reduce financial pressures on everyday consumers by enabling them to receive their salaries early — whenever they demand it. JobCoin says a startling number of hard-working individuals are falling victim to loan sharks and high-interest loans, or racking up unsustainable credit card bills as they try to grapple with sudden expenses. The startup’s concept means workers can request to be compensated for the hours they have already completed, even if their normal payday is a few days or weeks in the…

Here’s Why the Bitcoin Price May Not See a Big Correction At All

boss

Bitcoin (BTC) has been on something of a tear as of late. You know that, of course, but the strength of this move shouldn’t be understated. In the past six weeks, the crypto asset has moved from $4,200 to $8,300 — a growth of nearly 100% — while altcoins have also seen lofty gains. Yet, throughout this entire swing to the upside, there have been analysts incessantly calling for a correction, looking to charts to accentuate that Bitcoin rallying here is uncalled for. The technicals would agree. On-chain data shows,…

Here’s Why the Bitcoin Price May Not See a Big Correction At All

boss

Bitcoin (BTC) has been on something of a tear as of late. You know that, of course, but the strength of this move shouldn’t be understated. In the past six weeks, the crypto asset has moved from $4,200 to $8,300 — a growth of nearly 100% — while altcoins have also seen lofty gains. Yet, throughout this entire swing to the upside, there have been analysts incessantly calling for a correction, looking to charts to accentuate that Bitcoin rallying here is uncalled for. The technicals would agree. On-chain data shows,…

Bitcoin Faces Price Correction Toward $7.6K, Technical Charts Suggest

boss

View Bitcoin printed a 10-month high of $8,390 earlier today only to fall back quickly below $8,000, strengthening the bearish divergence of the 4-hour chart relative strength index (RSI). The daily RSI is also teasing bearish divergence. BTC risks falling to a potential double-top neckline at $7,619. A break lower would open the doors to sub-$7,000 levels (target as per the measured height method). The case for correction in the next day or two would weaken if the price rises back above $8,300. Bitcoin (BTC) could be in for a…

2018 Was a Nightmare for Most

boss

The shutdown of Coinnest on April 18, one of the major crypto exchanges in South Korea, showcased the intense brutality of the 16-month bear market, which came crashing down as soon as bitcoin achieved an all-time high at a price of $20,000. While not many major crypto exchanges have closed their operations in the past year, most exchanges — with the exception of some platforms considered to have real daily volumes by Bitwise Asset Management — have struggled to maintain a stable inflow of revenue. The bear market was particularly…