Day: June 3, 2019

Blockchain Tech Used by Enterprises at Risk of Becoming Obsolete Within 18 Months

boss

Research firm Gartner has warned that 90% of the blockchain technology used by enterprises will need to be replaced within the next 18 months, tech site ITPro reported on June 3. The company’s senior research director, Adrian Lee, said the industry’s fragmented nature means the technology implemented by some companies is at risk of becoming obsolete or insecure by 2021. Lee also said blockchain vendors often use marketing messages that fail to address an enterprise’s needs — leaving companies confused as to how decentralized platforms work, and whether they would add any net…

Bitfinex Subsidiary Hybrid Crypto Exchange Ethfinex Trustless Launches Decentralized OTC

boss

Bitfinex-owned hybrid cryptocurrency exchange Ethfinex Trustless announced the launch of its on-chain decentralized over-the-counter (OTC) service in a press release shared with Cointelegraph on June 3. The system allegedly has no centralized order book or matching engine, and only financial instruments are restricted from the platform. Furthermore, the press release claims: “Customers can trade any ERC20 token, and even specify custom Ethereum addresses for tokens which are not currently listed on any exchanges.” Per the release, the new system uses blockchain to enforce an OTC transaction as an atomic swap.…

SEC Commissioner Hester Peirce Encourages Less Caution Toward ETF Innovation

boss

Hester Peirce, commissioner at the United States securities regulator, has urged for a less cautious approach towards innovation in the exchange-traded funds (ETFs) space on the regulator’s part. The Financial Times reported on her remarks on June 2. Per the report, the Security and Exchange Commission’s (SEC) Peirce called on her co-commissioners to allow for innovation in the ETF space by lessening their caution. She reportedly commented on the SEC’s approach towards this category of highly regulated financial derivatives, noting that the SEC is “still smothering ETFs with personalised attention…

Bitcoin Bulls Rage in Key Indicator Despite $11 Billion Crypto Flush

boss

By CCN: In an overnight pullback, the bitcoin price has dropped by around 2.3 percent from $8,700 to $8,500, leaving major crypto assets such as Ethereum, Bitcoin Cash, XRP, and EOS with 3 to 8 percent losses against the U.S. dollar. The bitcoin price has been on a downward trend for nearly a week (source: coinmarketcap.com) As the bitcoin price endured a minor correction, the valuation of the crypto market has dropped by nearly $11 billion from $279 billion to $268 billion. Still, despite the short-term correction of bitcoin and…

OKEx Says Crypto Is the Future of Money for Consumers in Unstable Economies

boss

One of the world’s biggest crypto exchanges by trading volume believes digital currencies can provide financial freedom to consumers in countries where instability and inflation are making fiat payments impractical. In the world of digital technology dominance, traditional global financial systems are facing hard times to transform in order to interact with the overwhelming demands around the globe, especially to developing countries. Issues such as a lack of access to stable banking and the high cost of currency exchange and remittances for migrant workers sending funds back home all contribute…

Bitcoin Continues to See Negative Corrections After Breaking $9,000, US Stocks Tumble

boss

Monday, June 3 — after seeing a short recovery attempt yesterday, crypto markets have seen another negative correction, with most of the 20 major coins in the red. According to data from CoinMarketCap, only four out of the top 20 cryptos by market cap are seeing gains at press time, with cosmos (ATOM) and bitcoin sv (BSV) seeing the largest gains over the day, up around 15.3% and 15% respectively. In contrast, tron’s (TRX) price has plunged 8%, which is the biggest loss over the day among the top 20.…

Analyst Predicts $7-10 per XRP in 2-4 Weeks While Ripple Releases 1B XRP from Escrow

boss

Photo: QuoteInspector XRP which has since long been trading around $0.40 is likely to show a significant price in the near future. Citing some strong technical build-up for the third-largest cryptocurrency, analysts are predicting a bullish momentum. Last week, the CEO of Sir Gekko Capital Holdings, Gordon Gekko, made a bold prediction for XRP. Looking at the historical chart patterns and movements, Gekko notes that XRP could surge to $7-$10 in just next 3-6 weeks time frame. Gekko predicts this price surge based on the time and reaction of XRP…

UK-Based Crypto Mining Firm Argo Upgrades Q2 2019 Forecast Due to Market Rally

boss

London-based cryptocurrency mining firm Argo Blockchain has significantly upgraded its 2019 second quarter forecast in light of the crypto market upturn. The news was reported by Alliance finance and stock market news agency for London South East on June 3. Following news of Argo’s revised forecast, shares in the firm reportedly spiked 20% to 6.29 pence (around $0.08) during morning trading hours today. The firm has a market capitalization of £18 million (around $22.8 million), Alliance notes. By the end of Q2 2019, Argo revealed it expects to generate 420…

LocalEthereum Woos LocalBitcoins Traders After Platform Reportedly Bans Cash Trading

boss

Finnish P2P bitcoin (BTC) trading platform LocalBitcoins has kept silent after users reported it had removed cash trading from its service on June 1. LocalBitcoins, which allows users to trade BTC for fiat currency privately, purportedly cut the option for in-person meetups to trade crypto for cash, angering social media commentators. “It’s time to no longer recommend LocalBitcoins, EVER,” the top response to the original Reddit report reads. Executives from the company have so far refrained from publicly commenting on the move, which follows a slow process of Anti-Money Laundering…

Bitcoin Faces Price Pullback as Signs of Longer-Term Bull Exhaustion Emerge

boss

View BTC risks falling below $8,000 in the short-term, having created a doji candle last week. Below $8,000, the focus would shift to the 30-day moving average, currently at $7,643, which has a penchant for reversing price pullbacks. The outlook as per the daily chart would turn bearish if the price sees a UTC close below the 30-day MA. The long-term outlook will remain bullish as long as the price is trading above May’s low of $5,263. The case for a short-term correction would weaken if bitcoin bounces from the…