Day: June 3, 2019

Bitcoin Slips To $8,100: BTC Needs To Hold $8,200 For Bulls To Maintain Momentum

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At long last, Bitcoin (BTC) has begun to slip after trending in the mid-$8,000s for days on end. In a move expected by a number of analysts, BTC has dropped to $8,100 on most major crypto exchanges. In the past 24 hours (according to Coin Market Cap), the cryptocurrency is down 5.80%, as a number of altcoins, save for Bitcoin Satoshi’s Vision, Cosmos’s ATOM, Crypto.com, have posted similar or worse losses. Despite the rapid spike lower though, there’s purportedly still hope for bulls, barring that a specific level can be…

Open Positions on Chicago Mercantile Exchange Bitcoin Futures Hit Record High

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The number of open contracts for the Chicago Mercantile Exchange’s (CME) bitcoin (BTC) futures is reportedly at an all-time high, cryptocurrency news outlet Coindesk reported on June 3. According to visible data released by the United States Commodity Futures Trading Commission (CFTC) data, the number of open positions for the aforementioned future contract in the week from May 27 to June 3 is 5,190. Coindesk claims that this is the highest number of open positions that CME’s bitcoin futures have ever reported and a 7% increase over the previous week.…

Analytical Firm Calls Bitcoin ‘King of the Assets Class Hill’

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Analytical firm Delphi Digital has called bitcoin (BTC) the “King of the Assets Class Hill” due to the coin’s outperformance in recent months, the Next Web reported on June 3. Delphi Digital based its commentary on bitcoin’s returns for four straight months, especially given that bitcoin’s performance comes at a time when traditional risk assets continue to face selling pressure. “May’s outperformance has been especially important given the broader weakness across many other asset classes,” the firm said. According to Delphi Digital, investors have been driven to leave riskier positions…

Blockchains Acquires Development Firm Behind ‘The DAO’ Project

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United States-based blockchain incubator and investment firm Blockchains, LLC, has acquired the German Ethereum dev team slock.it, according to a press release on June 3. Slock.it’s team is reportedly around three dozen large, and is known for its creation of the now-defunct decentralized autonomous organization (DAO) project “The DAO.” Co-founders and brothers Christoph and Simon Jentzsch will reportedly join Blockchains as VP of technology and director of blockchain development, respectively. During the first few months of the acquisition, the newly-linked organizations will reportedly ship a line of open-source tools for…

Bitcoin (BTC) In Bull Trend Despite Troubles at $9,000, Analysts Note

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Bitcoin Bull Run Sees Strong Confirmation In the past eight weeks, Bitcoin (BTC) has rallied from $4,200 to $8,400, literally doubling in a time when global equities have been in a period of tumult. This strong performance has made many claim that crypto assets are decidedly in a bullish trend, marked by higher lows and higher highs in rapid succession. Do the technicals back this? According to Josh Rager, a popular analyst and team member at exchange startup Level, yes. He recently remarked that the Super Guppy, an indicator that…

Israeli Supreme Court Rules in Favor of Cryptocurrency Exchange in Bank Dispute

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The Supreme Court of Israel has declared that Leumi Bank cannot block the cryptocurrency exchange Bits of Gold’s account on the grounds of regulatory concerns, according to a report by Finance Magnates on June 3. Despite the Supreme Court’s ruling against Leumi, the bank reportedly maintains its stance against dealing with the exchange. The report notes, however, that this ruling sets precedent for Israeli cryptocurrency firms to legally use traditional banking services in the region. In 2017, the Israeli Supreme Court previously ruled in favor of Leumi in a separate…

Could the Blockchain Have Prevented It?

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By CCN: A major data breach has rocked Quest Diagnostics, exposing the personal details of nearly 12 million patients in the process. The incident, which was reported in a public filing, occurred on May 14 after centralized third-party billing company American Medical Collection Agency (AMCA) informed the diagnostic testing company about “potential unauthorized activity” on a “web payment page.” Quest Diagnostics has some blockchain exposure, but apparently not enough. Among the first companies to respond was blockchain-powered ID startup Civic, suggesting its decentralized technology could put an end to data…

Tech Startup Fluree Raises Nearly $5 Million in Seed Round for Blockchain Database

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North Carolina-based Fluree has raised $4.7 million in its first funding round for the company’s blockchain-based database system, according to a report by Tech Crunch on June 3. The firm’s blockchain database product, FlureeDB, purports to be “an immutable, time-ordered blockchain database” according to its documentation. Additionally, users can reportedly choose to run the database privately or on a federated blockchain network. CEO Brian Platz explained: “If you want 100% decentralization, something like Bitcoin, it’s going to be slow. You can’t have your cake and eat it too. If you…

Facebook in Discussions with CFTC but Uncertainties Continue

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Some weeks back, Facebook indicated that it was launching a cryptocurrency payment service called Project Libra. The company has had a series of talks with various e-commerce companies as well as financial firms seeking support for the payment service. The latest discussions involve the US Commodity and Futures Trading Commission regarding Facebook’s stable coin initiative: GlobalCoin. CFTC Indicates Interest The Financial Times reported on Sunday that Christopher Giancarlo, the chairman of CFTC, had confirmed that talks regarding the support for the stablecoin were in early stages. He added that the goal…

Binance CEO Debunks Crypto Twitter Hysteria Over US Geoblock

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By CCN: A rumor that crypto exchange giant Binance had barred users from the United States and 28 other countries from accessing its decentralized exchange (DEX) has had Crypto Twitter in a tizzy. As is often the case with rumors, the truth is a bit more complicated – and a lot less tantalizing. Speaking to CCN, Binance CEO Changpeng Zhao debunked the hysteria. He explained that the geoblock of users from 29 countries including the U.S. and Venezuela only applies to a single website in www.binance.org, and he also clarified…