Day: May 24, 2019

Bitcoin Halving is Less Than One Year Away: What to Expect?

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When Bitcoin launched a decade ago, most people thought that it was a dubious idea and ignored it. Its algorithm read too good to be true. Nonetheless, the virtual currency rose from a value of zero to a peak of $20,000 in 2017 before it plummeted. At some point, a Bitcoin bear, Nouriel Roubini, referred to it as the “mother of all bubbles.” 2018 was majorly a bearish year for the token which saw its bottom at around $3,000. However, the most popular cryptocurrency has recently recovered currently hovering around…

Tim Draper: Bitcoin Presents Enticing Proposition for Investors Bored with Over-regulated Public Market

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Billionaire venture capitalist Tim Draper says lack of “exciting” volatility in the initial public offering (IPO) market could see an influx of investors to bitcoin (BTC) and other cryptocurrencies. Speaking to CNBC, Draper also echoed the familiar sentiment of cryptocurrency and blockchain technology being akin to the early days of the Internet era. Boring Public Markets Could Trigger Pivot Towards Bitcoin In recent times, several companies like Uber and Lyft have made the transition to becoming public firms, after conducting their IPOs. Draper believes that these companies might not experience…

Singapore’s iSTOX to Launch a Regulated Digitized Securities Platform in 2020

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Capital markets platform iSTOX has joined Singapore’s regulatory sandbox to launch digitized securities trading in late 2019, the firm announced in a tweet on May 24. Following its addition to the Monetary Authority of Singapore (MAS)’s FinTech Regulatory Sandbox on May 1, the Singapore-based company will start providing service for the trading of digitized securities starting from Q4 2019, according to an iSTOX official press release. Operated by ICHX Tech, a blockchain infrastructure firm incubated by major Singapore investment firm ICH Group, iSTOX expects to graduate from the sandbox and…

Bitcoin Crosses $8,000 as Major Oil Futures See Losses

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Friday, May 24 — most of the top 20 cryptocurrencies are reporting moderate gains on the day by press time, as bitcoin (BTC) crosses the $8,000 mark again. Market visualization courtesy of Coin360 Bitcoin is up over 5% on the day, trading at $8,018 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin is down over 8.42%. Bitcoin 7-day price chart. Source: CoinMarketCap Earlier this week, CEO of Morgan Creek Capital Mark Yusko said bitcoin should be in every investor’s portfolio. Ether (ETH) is holding onto its position as…

Long-Term Bitcoin Price Indicator Rises for First Time in a Year

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View Bitcoin has risen back to $8,000 with the widely tracked 200-day moving average beginning to curl upwards in favor of the bulls for the first time since May 2018.  A bull flag breakout seen in the hourly chart indicates scope for a rise to $8,400. The breakout is backed by bullish readings on both the hourly and 4-hour charts.  A rally to $8,400 may not be sustainable, unless the move is backed by a rise in trading volumes. The daily chart is reporting a bearish divergence of trading volumes.…

New Interface Screenshots Appear to Confirm Margin Trading Testing

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Cryptocurrency exchange Binance delivered what appeared to be the first confirmation it had added margin trading for traders in a social media update on May 24. As part of its ongoing transition that will see new products, including a decentralized exchange, Binance released preliminary views of its new trading interface. Composed of a “dark” and “light” mode, developers conspicuously chose a view of margin trading for the teaser screenshots, The unveiling follows comments from CEO, Changpeng Zhao (also known as CZ), who confirmed margin trading would appear on Binance during…

Monero Developers Consider Adopting New Proof-of-Work Algorithm in October

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Privacy-centric cryptocurrency monero (XMR) plans to switch to a new proof-of-work (PoW) algorithm in October. The new algorithm follows an agreement with Arweave, which will fund an audit of the new algorithm, an Arweave spokesperson told Cointelegraph via email on May 23. Arweave, which has launched a permanent and decentralized internet, said that monero will implement the RandomX algorithm, thus replacing CryptoNight, if the audit is successful. Until now, monero developers reportedly hard-forked the network once every 6 months to ensure application-specific integrated circuit (ASIC) resistance by implementing small changes…

Grayscale Gets FINRA Approval to Offer Ethereum Trust to Individual Investors

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Photo: Grayscale Investments / Facebook American digital asset manager Grayscale Investments has disclosed that it managed to gain regulatory approval from the Financial Industry Regulatory Authority (FINRA) to open its Ethereum Trust for the over-the-counter (OTC) markets under the trading symbol ETHE for retail investors. ETHE, that was launched and funded by Grayscale in 2017, represents itself an open-ended trust. It holds Ethereum and its value is influenced only by the value of the coin itself. According to the data of April 30, 2019, holding one share of ETHE meant being…

Kraken Paid 250 Salaries to Staff in Bitcoin Last Month, Exchange Tells Critic

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Kraken paid 250 salaries to staff in bitcoin (BTC) last month, the crypto exchange revealed in a tweet on May 23. The firm was responding to Peter Schiff, the CEO of Euro Pacific Capital, who had claimed “there is no way that people are going to work for salaries paid in bitcoin.” As an aside, Kraken added: “By the way, the employee who took 100% bitcoin in 2012 retired in 2013.” Kraken reportedly employs about 800 people. While this figure suggests about 30% of its workforce are being paid in cryptocurrency, there could…

Polkadot Tokens Sold on Secondary Markets at Discounted Rates: Report

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Tokens for the Polkadot protocol are being offered on secondary markets at heavily discounted rates, The Block reported on May 23. A number of major crypto funds and investors told the website that over-the-counter (OTC) desks had given them the chance to buy large volumes of DOT tokens. Polkadot, a blockchain interoperability protocol created by Ethereum co-founder Gavin Wood, sold its official presale tokens at $30. The private sale price is $120 — and it is believed at least one secondary deal has gone through, with the buyer receiving a 50% discount. Such deals…