Day: June 15, 2019

Family Offices Pour Billions Into eSports, Can Crypto be Next?

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Over recent years, eSports — and gaming, in general — have blown up. You may think crypto may have seen growth, but so too has this fledgling sector. Estimates state that eSports have a global audience of hundreds of millions, most of which are presumably teen-aged or millennial-aged men, and industry value in the billions. While these two industries have almost nothing to do with each other, the growth of gaming may result in a correlated growth in cryptocurrency and blockchain. Here’s why. Family Offices Poised to Foray into Crypto…

The Strange Case of CCN and the Google June 2019 Core Update

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Here at Cointelegraph, we were as shocked as everyone else in and around the crypto-sphere when we learned about the abrupt closure of stalwart crypto media outlet CCN. Established at around the same time as Cointelegraph and CoinDesk, CCN spent years competing for the crypto audience. However, just a couple days later, as many others, we were relieved to hear that CCN was back — although we couldn’t help but feel sceptical regarding several aspects of the story and puzzled by so many questions swirling around it. How come a key player…

Crypto Tidbits: Bakkt’s Bitcoin Futures Near, Facebook’s Libra Backed by Uber, Binance to Block US Clients

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Another week, another round of Crypto Tidbits. It would be fair to say that the past seven days for Bitcoin (BTC) and its ilk have been rather spectacular. Aside from mostly bullish price action, which brought the cryptocurrency to $8,650 for the first time in weeks, instrumental industry developments were numerous. Twitter’s chief executive Jack Dorsey doubled-down on his support for Bitcoin, again lauding it for its potential to become the world’s digital currency. Uber, Lyft, and Spotify were revealed to be backing Facebook’s impending cryptocurrency. And Bakkt finally announced…

Crypto Tidbits: Bakkt’s Bitcoin Futures Near, Facebook’s Libra Backed by Uber, Binance to Block US Clients

boss

Another week, another round of Crypto Tidbits. It would be fair to say that the past seven days for Bitcoin (BTC) and its ilk have been rather spectacular. Aside from mostly bullish price action, which brought the cryptocurrency to $8,650 for the first time in weeks, instrumental industry developments were numerous. Twitter’s chief executive Jack Dorsey doubled-down on his support for Bitcoin, again lauding it for its potential to become the world’s digital currency. Uber, Lyft, and Spotify were revealed to be backing Facebook’s impending cryptocurrency. And Bakkt finally announced…

Coinbase Custody Holds $1.3B in Assets Under Custody, Expects to Hit $2B ‘Soon’

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Coinbase Custody revealed that it holds $1.3 billion in assets under custody (AUC) and the firm expects to hit $2 billion AUC soon in a Twitter thread published on June 13. In a series of tweets, what is evidently the official Coinbase Custody Twitter account reported that last week the company’s CEO, Sam McIngvale, and its chief information security officer, Philip Martin, visited the United Kingdom. The purpose of the visit was reportedly “to discuss the institutional cryptoeconomy with a range of prospects and clients.” During the meeting, the firm’s…

Facebook to Unveil ‘Libra Association’ and Launch Testnet Next Week: Report

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Social media giant Facebook will unveil the Libra Association, which will operate its bespoke cryptocurrency Libra, on June 18, cryptocurrency news outlet The Block reported on June 14. Per the report, Facebook and dozens of its partners will unveil the Libra Association — which will be based out of Geneva — as the entity that will oversee the company’s Libra cryptocurrency project. During the event, the company is also expected to launch the testnet of its blockchain. The Block claims to have seen an unspecified blog post from Facebook, according…

Crypto Market Rallies $15 Billion: Bitcoin Cash, Litecoin, EOS, XLM Analysis

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The total crypto market cap gained momentum and broke the key $252.0B resistance area. Bitcoin price surged above the $8,500 and $8,650 resistance levels. Litecoin (LTC) price remains in a strong uptrend and is trading nicely above $134. Bitcoin cash price is grinding higher towards the $420 and $425 resistance levels. EOS price is back above the $6.50 level and it may even break the key $6.75 resistance area. Stellar (XLM) price is about to gain momentum above the $0.1250 level. The crypto market cap gained sharply, with positive moves…

Appetite for Blockchain Tech Builds Among Korean Banks, but Without Crypto

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In recent weeks, major South Korean financial institutions have rolled out a number of services incorporating blockchain technology, especially in the areas of Know Your Customer (KYC) procedures and security. Fintech has become a buzzword for local banks trying to keep up with the change of the times. The banks, however, are not looking into an important part of blockchain, which is digital assets, says one influential Korean advocate of alternative currency. In order to assess the Korean blockchain space, it is important to understand how the trend affects existing…

Bitcoin Price Jumps Above $8,700 following Binance US Closure

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Bitcoin is becoming a hedging instrument even against the rest of the cryptocurrency market. The largest cryptocurrency profited as much as 6 percent on Friday to close above $8,700. At the same time, other leading cryptocurrencies, such as Ethereum, Litecoin, and EOS, trended in negative territory. The massive contrast between the bitcoin and the rest of the cryptocurrency market indicated a capital flight. Traders suggestively exchanged a bulk of altcoins for bitcoin as a safety measure against the latest Binance announcement. The Malta-based cryptocurrency exchange, which accounted for the highest global cryptocurrency…

Bitcoin Halving Will Trigger ‘Supply Shock’, Warns Venture Capitalist

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A Bitcoin halvening is a fixed event and will occur after every 210,000 blocks are mined, or confirmed, by the system. StillMark Capital analyst Alyse Killeen thinks that there will be even greater demand for Bitcoin. The largest cryptocurrency, Bitcoin seems to have something to worry about. This week it was literally swept off by one of its biggest rivals – Litecoin. Mati Greenspan, senior market analyst at brokerage eToro said: “If Litecoin is indeed the leader, let’s look out for a Bitcoin breakout this week.” Even though we cannot…