Bitcoin Still up on the Week After Failing to Hold $11,000

Tuesday, Aug. 13 — Bitcoin (BTC) falls under the $11,000 mark again as most of the top 20 cryptocurrencies are reporting moderate losses on the day by press time. Market visualization courtesy of Coin360 Bitcoin’s price is currently down by 3.12% on the day, trading at around $11,019, according to Coin360. Looking at its weekly chart, the coin is up by about 6.55%. Still, multiple sources — including Cointelegraph’s market information tools — report that Bitcoin’s price is currently under $11,000. Furthermore, according to cryptocurrency information platform CoinMarketCap, Bitcoin is…

Bitcoin Cross-Border Payments Now Available in 60 Latin American Banks

The nascent industries of blockchain and cryptocurrencies are gradually attracting institutional investors. Reports reveal that a leading Latin American bank technology provider is working closely with Bitex crypto exchange. The partnership aims to make cross-border payments easier using the Bitcoin blockchain. In that context, Manuel Beaudroit, the Bitex Chief Marketing Officer, said: “The integration of Bitex into Bantotal program represents a major step in the breakthrough of blockchain technology in banking.” Bantotal, a leading provider of banking services, operates in Uruguay. It services at least 60 various entities offering financial…

Bitcoin Price Craters Below $11,000 as Trump Stuns Market

The bitcoin price careened below $11,000 after the Trump administration stunned the market by delaying new tariffs on China. | Source: REUTERS/Leah Millis/Shutterstock; Edited by CCN The bitcoin price slid below the $11,000 mark for the first time in more than a week on Tuesday, as the flagship cryptocurrency’s burgeoning inverse correlation with the S&P 500 came back to bite investors. Bitcoin Price Careens Below $11,000 Bitcoin had entered the day trading sideways in the low $11,000s, where it had more or less languished since the Saturday sell-off that followed…

ICON Foundation Will Give Away 3 Million Tokens Towards Representative Elections

Blockchain interoperability network ICON has announced a token giveaway in the run-up to its eagerly anticipated community elections. 3 million ICX tokens (about ~$600,000 USD) will be disbursed to members of the ICON community throughout the pre-voting period, which commences on August 26. Scheduled to run for 30 days, ICON’s pre-voting period is designed to familiarize its community with the staking and voting process which is at the heart of the project’s decentralization process. In return for their participation, community members will receive a share of the 3 million ICX…

Poloniex Will Reimburse $13.5 Million Loss From Clams Flash Crash

Cryptocurrency exchange, Poloniex, has announced a scheme to reimburse users affected by a flash crash in May, which led to total losses of around 1,800 Bitcoin (BTC). In an Aug. 13 blog post, the company pledged to repay daily trading fees (in BTC) to impacted lenders until their losses are fully recovered. Payments will begin later in August and the first credit will include all trading fees incurred since the generalized losses were first recognized on June 6, 2019. Margin trading multiplies effects of flash crash Poloniex has a peer-to-peer…

Litecoin Price Technical Analysis (August 13): No Clear Direction Yet

Litecoin (LTC)trade is currently trading at $85.61. In the graph below it can be seen that the digital coin was trading between the channels but recently it has broken the lower limit of the channel, indicating a further correction. The channel’s lower limit is at $87.55, and is acting as resistance with support at $82.80. Dow Theory According to Dow Theory, the virtual coin is currently appearing in the accumulation phase after the panic phase. The accumulation phase is a period when long-term investors are actively buying stock against the…

UK Crypto Regulation Is Changing, Recognition Looming at Long Last

The United Kingdom has long been a financial mecca. Ever since the Big Bang and the arrival of Thatcherism in the ‘80s, Britain has cultivated a finance-friendly environment revolving around the city of London, with deregulation inviting a wave of foreign investment and trading activity. However, while it has even been suggested that London will overtake San Francisco as the fintech unicorn capital of the world, the U.K. has been less welcoming of crypto than it has of traditional finance. As industry bodies like CryptoUK as well as other commentators have…

This Crypto Is Worth Less Than 1 Cent. VCs Are Betting Millions on Its Future

Not all token sales led to quick failures or cash grabs. Some were part of a broader, albeit ambitious, business strategy. The blockchain startup Patientory, which makes a consumer health app and offers enterprise data management services to hospitals and clinics, just closed a $5.2 million Series A led by R/GA Ventures. This comes as the startup’s first funding round since it split off from the Patientory Association, a nonprofit created after the May 2017 initial coin offering (ICO) of ethereum-based PTOY tokens raised $7.2 million. “With the token, it…

American Boxing Legend Mike Tyson Chooses Blockchain for New Venture

Iconic American boxer Mike Tyson is spearheading a new blockchain-powered cross-entertainment platform for a new generation of fighters. On Aug. 13, VentureBeat reported that the new venture — dubbed “Fight to Fame” — will use blockchain technology to underpin a new, multi-pronged platform that aims to catapult aspiring fighters to success via social media, reality TV, film, games, live matches and betting.  “Wealth generation from the masses” While Tyson will serve as the founder and chairman of the sports and competition committee for Fight to Fame, the project also counts…

Blockchain Startup Bitfury Launches Artificial Intelligence Unit

Blockchain startup BitFury launched an artificial intelligence (AI) unit, Reuters reports on Aug. 13. “Data is the new oil” Bitfury chief executive officer and co-founder Valery Vavilov reportedly said that the company’s dive into AI is motivated by the need to analyze and extract information from great quantities of data. He reportedly noted that data is becoming the new oil and stated: “We have collected so much data, but only 2% of all this data has been analyzed; 98% is sitting idle and waiting to be analyzed.” Vavilov also reportedly…