Day: May 30, 2019

Robinhood Using Crypto Trade Execution Services From Jump Trading

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United States-based stock and crypto trading app Robinhood has reportedly been cooperating with Chicago trading firm Jump Trading LCC to execute crypto trades on behalf of its clients. Bloomberg reported on the matter on May 29, citing anonymous sources. Jump Trading — a small trading firm founded 20 years ago by Chicago futures pits veterans Bill DiSomma and Paul Gurinas — has ostensibly benefited from being an early mover on cryptocurrencies, Bloomberg’s sources have claimed. The firm is known to have made its foray into bitcoin (BTC) trading from at…

Study Suggests Ticker Readability Positively Impacts a Cryptocurrency’s Returns

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The founder of Cryptodatum.io — a cryptocurrency data API for machine learning — has conducted a study that ostensibly indicates that the readability of a cryptocurrency’s ticker symbol positively correlates with higher returns. The results of the study were published by data science site Towards Data Science on May 29. Cryptodatum.io founder Gerard Martinez notes that the study’s hypothesis is based on the principle of “cognitive ease,” a phenomenon defined by the Israeli-American psychologist and economist Daniel Kahneman in his book, “Thinking Fast and Slow.” The phenomenon is based on…

Bitcoin Is Certainly Speculative and Risky

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The head of digital assets at Susquehanna, a leading global privately held financial institutional firm, said that bitcoin (BTC) investment is “certainly speculative.” Susquehanna’s Bart Smith discussed the major cryptocurrency’s most recent moves in an episode of CNBC’s “Squawk Box” on May 30. Addressing the basic question of bitcoin’s high volatility, which some consider prevent it from being considered as a store of value or a reliable medium of exchange, Smith argued that bitcoin investments are speculative and risky. In the CNBC interview, the crypto expert looked at major factors…

Bitcoin (BTC) Rallies To $9,100, Crashes By $500 In Minutes: What?

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Bitcoin Trades In $500 Range In Crazy Bout Of Price Action Bitcoin has just experienced a crazy bout of volatility, which has made some reminisce to the Bitstamp flash crash seen just weeks ago, which saw BTC fall by 20% on Bitstamp within minutes, and sent the market spiraling in the short-term. We just saw Bitcoin hit $9,100, breaking out from $8,700 on Thursday, then collapse by $500 to $8,700. The tweet below from crypto analyst Joseph Young sums it up pretty well. If $9,000 held, BTC would have been…

Abra Allows Bitcoin Holders to Fractionally Invest in Stocks and ETF with Zero Fees in 2019

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Abra,a crypto investment app with its headquarters in San Francisco, USA, isallowing its non-US users to invest in exchange-traded funds (ETFs) and stockswith Bitcoin as collateral. Ina tweet, Abrasaid: “It’s finally here! Abra is offering (non-US users) the ability to invest in stocks ETFs, and commodities in over 150 countries. Starting today, investors can use Bitcoin to make fractional investments in stocks and ETFs with $0 trading fees for 2019.” Solving Access and Affordability Notably, Abra is the first company in the United States to unveil such services. The app’s…

Tron Announces BitTorrent-Based IPFS Variant Decentralized File System Protocol

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Blockchain platform Tron, which is behind the decentralized, web focused cryptocurrency tron TRX, announced plans to develop a BitTorrent-based version of decentralized file system InterPlanetary File System (IPFS). The development was shared in a press release with Cointelegraph on May 30. Per the release, the BitTorrent File System (BTFS) is a variant of the aforementioned open source IPFS software and will “allow users to receive and host storage on their computers with other individuals and businesses.” Internal testing of the BTFS protocol reportedly already started in late May. Justin Sun,…

Bitcoin Price & Technical Analysis: BTC Up by 65.50% Since Early May

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Photo: QuoteInspector By Dmitriy Gurkovskiy, Chief Analyst at RoboForex. The number of large amount BTC wallets is considerably up. What Awaits the Bitcoin? Opinions are controversial. According to Dial report, the number of BTC wallets with BTC 1,000 to BTC 10,000 has increased drastically over the last nine months. The number of those with under BTC 100 is also up. Thus, over the last three quarters, the wallets with under BTC 10,000 have around 26% of all bitcoins issued. This means people were buying bitcoins in small amounts while the market was falling. All…

Bitcoin Trading Volume Skyrockets in Latin America, Value Hits ATH in Argentina

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Weekly peer-to-peer trading volume in the Latin American bitcoin market has been rising steeply, according to data provided by LocalBitcoins.com. The over-the-counter bitcoin trading portal found that Argentina, Chile, Mexico, Columbia, Peru, and Venezuela are posting more offline trading activity than that reported on the global average scale. Measured against their local fiat currencies, the volumes appeared higher even during the 2018’s cryptocurrency crisis, wherein bitcoin lost more than 70 percent of spot market valuation. Interesting that the crypto market is following a totally different pattern in LatAm (source data…

Huobi Clamps Down on Crypto Wash Trading After Bitwise Report

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Huobi Global said it does not engage in any wash trading, and has taken steps to discourage such activity in the wake of a report implying the crypto exchange reported fake trading volume. Livio Weng, CEO of Huobi Global, told CoinDesk through a spokesperson that the exchange “is not involved in any wash trading,” and any such actions would go against the exchange’s “core values.” A report by Bitwise Asset Management which implied that Huobi reported inflated trading volume “surprised” its team, he said, and the exchange “subsequently did a thorough…

Chinese Authorities to Investigate Illegal Mining Farms at ‘Global Mining Capital’ Sichuan

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The state authorities of China’s Sichuan province will investigate local bitcoin (BTC) mining farms that have been allegedly been built illegally, local media agency Sina reports on May 30. Located at the bitcoin “global mining capital” of Sichuan, the bitcoin mining farms with over 30,000 bitcoin mining machines have been reportedly constructed without an official approval from the local government, and are thus subject for further examination. Specifically, the alleged illegal mining farms are located along the Sichuan’s Dadu river, a major Chinese river that will host the world’s biggest…