Day: July 8, 2019

Bitcoin Price | Short Sellers Surprised as Bitcoin Surges Another 4.5%

boss

Those who betted that Bitcoin’s bull run was over were hit with a surprise today. According to Reddit, over $44 million USD was lost on BitMEX due to short sellers betting on a Bitcoin price decline. The largest digital asset by market cap surprised investors with another climb up the charts. At 10 am UTC, Bitcoin surged 4.4% and almost breached the $12k mark on CoinMarketCap. Bitcoin Price Surges 4% Bitcoin is currently selling for $11,862 USD on CoinMarketCap; however, Cointelegraph reports: “On major exchanges, USD spreads meant bitcoin was…

Cryptocurrency Defends $60 Million Not-an-ICO After 56% Price Crash

boss

Algorand had its successful first auction last month, leaving its closing price at $2.40. It currently trades on cryptocurrency exchanges such as Binance for just over $1. Algorand employed a Dutch Auction, which means traders don’t know how much they’ll get until the auction ends. The only thing the investor can initially be sure of is how much they’re investing. Algorand Price Drops 56% After Cryptocurrency Token Sale The Algorand cryptocurrency has seen its price drop by half since its $60 million not-an-ICO. | Source: CoinMarketCap Algorand is one of…

China’s Central Bank Developing Own Digital Currency in Response to Libra

boss

China’s central bank is reportedly developing its own digital currency in response to Facebook’s Libra as the latter could purportedly pose a risk to the country’s financial system, the South China Morning Post reported on July 8. Wang Xin, director of the People’s Bank of China (PBoC) research bureau, argued that “if [Libra] is widely used for payments, cross-border payments in particular, would it be able to function like money and accordingly have a large influence on monetary policy, financial stability and the international monetary system?”  Wang said that the…

Tron Issues Official Response to Recent Protest at Beijing Office

boss

The Tron Foundation issued an official response to a recent protest against a ponzi scheme that went under a Tron-like name, today, July 8. As Cointelegraph previously reported, protestors swarmed the Beijing research and development offices of Raybo technology — a partner firm of Tron’s —  to express outrage at a local cryptocurrency scam operating under a Tron-like name that reportedly led to $30 million worth of losses and one suicide. The offices were eventually surrounded by police, who contained and subsequently removed the protestors.  In its official statement, Tron…

Are They Heroes or Villains?

boss

Since the beginning of 2018, rumors and then news about some large players entering the blockchain industry mesmerized the crypto community. Presently, the projects promoted by JPMorgan Chase, Facebook and Telegram are at the testnet level, but the companies have disclosed more accurate information about them. The differences among the three projects are enormous — their aims, business models, technology, etc. Some similarities exist, nevertheless. However, with diversified feelings toward these projects, the community pointed out the challenges that they have introduced to the industry. This time, the proposal for…

Tron (TRX) Revival Adds 6.2%, Reacting From Q1 Peaks

boss

Tron (TRX) reacts from 3.1 cents, adds 6.2 percent After Justin Sun’s efforts, Tron is dominating in terms of dApp activity Reaffirming the presence of buyers, yesterday’s support at 3.1 cents is a mark of bulls. It is an intervention and the basis for a TRX possible expansion to above 4 cents reflecting buyers of May 2019. At the time of press, TRX is up 6.2 percent from last week’s close. Tron Price Analysis Fundamentals The era of smart contracting is all thanks to Ethereum. By building the frame works…

Price Analysis 08/07: BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, TRX, ADA

boss

Bitcoin’s rally continues to attract traditional investors. Will their entry propel the price to new highs? Let’s study the charts. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision. Market data is provided by the HitBTC exchange. The bitcoin price surged more than $435 in a matter of 10 minutes early Monday morning (UTC time), likely due to short sellers covering their…

Tron Rally Fades After Viral Video Spooks Crypto Traders

boss

The price of Tron (TRX) fell as much as 9 percent on Monday after protesters furious at Justin Sun for allegedly remaining silent about a $30 million Ponzi scheme stormed the project’s Beijing offices. As of the time of writing, the Tron price stood at $0.034, down more than 5 percent from its daily high. The move downward negated a majority of gains TRX made on Sunday, though it clung to a 24-hour advance of about 4 percent against the dollar. The Tron price endured a steep drop after a…

Bitstamp Crypto Exchange Sets Up Lightning Network Node

boss

European crypto exchange Bitstamp has set up its own Lightning Network (LN) node to boost the network’s capabilities, the company tweeted on July 8. As a second layer over the blockchain of the biggest cryptocurrency, bitcoin (BTC), the LN is designed to enable fast and zero-fee transactions by creating payment channels between users. Specifically, the network aims to address bitcoin’s scalability problem by keeping the majority of transactions off-chain. By launching its own LN node, Bitstamp aims to promote the growth of the network, as well as encourage the crypto…

ECB Changes To White House Links, Will XRP Recover?

boss

Ripple (XRP) retesting 40 cents, stable in the last day Change of leadership at ECB could be supportive for Ripple and blockchain in general Christine Lagarde will take over from Mario Draghi as the head of ECB. As a blockchain and crypto believer, her entry is significant. On more than one occasion she has been quoted fronting several DLT technologies including Ripple’s. Ripple Price Analysis Fundamentals Good news is, Christine Lagarde, the Managing Director of the IMF, will take over from Mario Draghi. While Mario did a lot for the…