Day: July 5, 2019

Blockchain-Based Used Car Data Marketplace to Launch in Singapore

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Singapore-based online car marketplace sgCarMart and decentralized data exchange protocol Ocean Protocol are launching a blockchain-powered “Know-Your-Vehicle” data marketplace. The development was announced in a press release on July 5. The so called Know-Your-Vehicle used car data marketplace will purportedly provide a secure way of sharing and accessing of information about used cars in Singapore, where almost 9,000 cars reportedly changed ownership per month in 2018. The product is set to provide customers with the capability of tracking data origin on a vehicle and then trace its history. Subsequently, the…

Polymath Stops Two Projects, Lays off 10 to Focus on Security Token App

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Ethereum (ETH)-based security token platform Polymath will terminate its two planned in-house projects to focus further on bringing securities onto blockchain, the firm announced in a blog post on July 4. Polymath is funneling the company’s newly freed resources towards its Polymath Token Studio, a decentralized application (dApp) that has reportedly enabled the issuance of over 130 security tokens to date, the company said in the announcement. As a part of the announcement, Polymath has laid off 10 employees who were working on the two discontinued product initiatives. The company…

Monero (XMR) susceptible To Developer Centralization, Dumps 7.6%

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Monero (XMR) is down 7.6 percent week-to-date The privacy-centric network prone to developer centralization In their quest for complete decentralization, Monero, as a blockchain network, has suffered massive drops in hash rate. That follow several upgrades with the sole objective sidelining ASIC miners. Even so, with this, the system is more reliant on its developers, and that is a weakness. Currently, XMR is down the market cap ranking to 14th. Monero Price Analysis Fundamentals Futurists reckon that in days ahead, the world will be more secure, decentralized and private. Of…

Ethereum to Reduce Issuance Ten-Fold by 2021

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Ethereum (ETH) might decrease issuance ten-fold by 2021, said Justin Drake, an Ethereum 2.0 researcher at the Ethereum Foundation, as technology-focused news outlet Trustnodes reported on July 5. Drake reportedly set out a possible timeline, saying: “Here’s a possible timeline (dates likely totally wrong!) highlighting the key milestones: January 2020: beacon chain launch. June 2020: eth2 light clients production-ready. November 2020: eth1 fork #1 to have its fork choice rule honour eth2 finality (conservatively, no issuance reduced). March 2021: eth1 fork #2 to reduce issuance by 10x.” Drake further stressed…

Analyst: Bitcoin Could Return to $9,900, Fall 15%

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Bitcoin in Precarious Territory Last week, Bitcoin (BTC) bulls suddenly lost steam, resulting in a $4,000, 30% collapse for the leading cryptocurrency. While this made countless analysts bearish, with some even calling for a return to $6,000, BTC bounced back. Hard. In the day or two following the move to $9,700, Bitcoin shot back up to five digits, even flirting with the $12,000 resistance for a short period of time. This, like the previous strong move, has resulted in a sentiment change market-wide. In fact, some optimistic commentators are already…

USDT-Bitcoin Relationship Means BTC May Explode Over the Weekend

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Bitcoin (BTC) consolidates, down 4.3 percent $100 million worth of USDT minted, bullish for BTC There is a correlation between the timing of USDT minting and BTC price expansion. Because of this, critics maintain that USDT is a tool for price manipulation. Meanwhile, with BTC shaky and $100 million more worth of USDT printed, prices stand to recover. Bitcoin Price Analysis Fundamentals The performance of BTC in the first half of the year is nothing but outstanding. Accompanying renewed interest (or fear) in future prices of cryptocurrency and Bitcoin is…

Bitcoin Decorrelated with Other Cryptos in Q2 2019

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Bitcoin’s (BTC) has become less correlated with other cryptos in Q2 2019 due to a potential “flight-to-quality” in the recent bull run, according to a Binance report on crypto correlations released on July 5. In its “2019 Q2 Crypto-Correlations Review,” Binance specified that average correlation between Bitcoin and all other major crypto assets declined to 0.61 from 0.73 in Q1 2019. Correlation rate is a statistical measure that indicates the degree of the relationship between assets, with the values ranging between -1.0 and 1.0. As such, assets with a correlation…

Veteran Investor Interested in Purchasing Bitcoin against Gloomy Economy

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A veteran investor who once called bitcoin a “real fraud” flipped his critical views amidst a gloomy macroeconomic outlook. Mark Mobius, the founder of Mobius Capital Partners LLP, said in an interview that he would probably buy bitcoin as a protection against the Federal Reserve’s dovish stance on the economy. The emerging markets maven held the cryptocurrency higher in terms of faith, citing people who, despite being small in number, trust it. “If [bitcoin] continues and grows, then I would probably have to a buyer and be involved in this,” Mobius…

Crypto Platform Unveils 4-Step Plan to Tackle Pain Points in Trading

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An aggregated liquidity platform says it has identified four key directions for the future of crypto that will address the current points of pain in blockchain trading. BitCloud says it aims to deliver a “closed loop ecosystem” that fully embraces fiat trading as an integral part of the new digital economy. Unlike other platforms that struggle to support such channels in a compliant, regulated way, the company says it is determined to deliver fiat trading capabilities that give Visa and Mastercard owners as much freedom as consumers who have fully…

Troubled Bitcoin Market Hedges $156 Million on a Joke Cryptocurrency |

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The knock was loud, the breaking of the door, louder. The bulls of the bitcoin market broke into a joke shop, which was lying deserted for the last three months, with $156 million worth of digital money. In other news, the price of Dogecoin (DOGE) experienced a double-digit percentage gain on Friday to reclaim a nine-month high. The meme cryptocurrency established an intraday high of $0.00499, up more than 60 percent from the market open today. The move upside pushed the Dogecoin market capitalization from $382.74 million to as high…