Day: June 11, 2019

Bitcoin Fails to Hold $8K as Cryptos Trade Sideways, Stocks Tumble After Recent Surge

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Tuesday, June 11 — crypto markets are trading sideways, with the top 20 coins by market cap predominantly seeing red at press time, according to data from CoinMarketCap. Market visualization from Coin360 Bitcoin (BTC) has failed to hold the $8,000 price point that it broke yesterday after seeing another dip below $7,900 before. At press time, bitcoin is trading at $7,878, down 0.82% over the past 24 hours, seeing a sufficient recovery from the intraday low of $7,778. The biggest cryptocurrency is up 1% over the past 7 days. Bitcoin…

Austrian Postal Service Releases Crypto Collectible Stamps

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The Austrian Post has released a line of crypto collectible stamps, according to a press release on June 11. According to the press release, the so-dubbed “crypto stamp” is the first stamp in the world to be authenticated via blockchain technology. The postal service has reportedly issued 150,000 copies sold at € 6.90 apiece. When purchased, the stamp set comes in two parts. As pictured below, the left part, which is stylized with a unicorn associated with Ethereum, functions as a standard stamp that can be used to send mail.…

CME’s Bitcoin Futures Hit New Records

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Ever since the Chicago Board Options Exchange (Cboe) announced it was ending its bitcoin futures products back in March, the Chicago Mercantile Exchange (CME Group) has seen a huge influx of bitcoin derivatives volumes. During the second week of May, CME’s bitcoin futures touched a milestone when it surpassed 33,000 contracts ($1.3 billion notional value) in one day. In another instance, CME’s open interest for its bitcoin derivatives positions smashed an all-time record high of 5,190 contracts on May 28. Also Read: Our Value of Money Is Subjective But That…

CME’s Bitcoin Futures Hit New Records

boss

Ever since the Chicago Board Options Exchange (Cboe) announced it was ending its bitcoin futures products back in March, the Chicago Mercantile Exchange (CME Group) has seen a huge influx of bitcoin derivatives volumes. During the second week of May, CME’s bitcoin futures touched a milestone when it surpassed 33,000 contracts ($1.3 billion notional value) in one day. In another instance, CME’s open interest for its bitcoin derivatives positions smashed an all-time record high of 5,190 contracts on May 28. Also Read: Our Value of Money Is Subjective But That…

Chinese City Offers Rent Subsidies, Cash Rewards to Blockchain Businesses

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Fuzhou, China is offering rent subsidies to blockchain businesses in a bid to accelerate the industry’s growth, the state-run People’s Daily reported on June 11. The incentive is part of three measures designed to help the sector, and will enable companies to receive up to 600,000 yuan ($86,800) in relief on rent bills per year for three years. Traditional companies will also be encouraged to build blockchain applications, and will be eligible to receive a 20% subsidy on the cost of their development. Projects that win awards for scientific and technological progress, or…

Bitcoin Price Rangebound But a Upside Move is On Its Way: Analysts

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Bitcoin (BTC) has not experienced any substantial market movement since June 4. The world’s leading cryptocurrency has been fluctuating between $7,440 and $8,100 from the last seven days. The move has established a strict $600-wide sideways pattern, which is offering day traders plenty of opportunities to enter and exit the market on smaller profits. The bulls so far have failed to secure a breach above $8,100, now a crucial resistance level of the sideways channel. At the same time, the bears have struggled to execute a similar action below $7,440.…

Litecoin Outperforms BTC, Analyst Says LTC Could Surge to $150

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LTC surges, adds 19.6 percent Halving is catalyzing demand Up five-fold, LTC’s performance is sublime. Ahead of its block reward halving, demand is slated to increase, potentially being a catalyst to drive prices higher. At the time of writing, LTC is up a staggering 19.6 percent from last week’s close. Litecoin Price Analysis Fundamentals A recent poll revealed that the best way of accumulating Bitcoin (BTC) is through altcoins. That is, savvy traders can buy altcoins for cheap and sell high before liquidating for BTC. Behind this view is a…

Bitcoin Bulls Will Be Back In The Picture Once BTC Rally Above $9,100

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BTC slides 2.1 percent Bitcoin is a safe haven, a Satoshi now worth more than several fiat currencies. Hardly surprising, a single Satoshi, the smallest unit of Bitcoin, is more valuable than several fiat currencies. Increasingly, Bitcoin is a safe refuge against inflation. As such, accompanying demand could spur demand, thrusting BTC above $9,100 towards $10,000 and beyond. Bitcoin Price Analysis Fundamentals What’s encouraging is that Bitcoin (BTC) bulls-after initial doldrums are back. It’s a relief for traders as well as optimistic investors reeling from last year’s upheavals. Nevertheless, that…

Beaxy Launches Crypto Trading Platform Despite Hack Last Month

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Beaxy has announced the launch of its cryptocurrency trading platform on June 11 in a press release shared with Cointelegraph. In the release, the company said it was now live in 43 United States states and 185 countries. According to Beaxy, an exclusive partnership with OneMarketData delivers trading capabilities across nine order types, with transaction speeds of 225,000 per second per trading pair. The launch follows two years of development, and the platform says it has more than 60,000 pre-registered users. Separately, in May, Beaxy CEO Artak Hamazaspyan had uploaded a statement…

Local Banks to Soon Introduce Unique Blockchain Platform

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The vice president of Brazil’s biggest bank, Bradesco, revealed that major local banks will introduce a unique blockchain platform on June 12, Cointelegraph Brazil reports on June 11. Bradesco VP Mauricio Minas has delivered a speech devoted to the role of blockchain in the global financial system, speaking at major Latin American banking and fintech event CIAB Febraban on June 11. The Bradesco VP unveiled the plans of local banking institutions to soon adopt an unnamed blockchain-powered solution, adding that a number of Brazilian banks have been developing applications using…