Day: August 19, 2019

Bitcoin, Ether, and XRP Weekly Market Update August 19, 2019

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The total crypto market cap lost $25.8 billion of its value during the last seven days and now stands at $271.5 billion. The top 10 currencies are all in red for the same time frame with Litecoin (LTC) and EOS (EOS) being the worst performers with 15.1 and 12.3 percent of loses respectively. By the time of writing bitcoin (BTC) is trading at $10,684 while ether (ETH) stands at $200, and Ripple’s XRP climbed up to $0.286. BTC/USD Bitcoin climbed up to $11,535 on Sunday, August 11 and closed the previous seven-day period with…

Blockchain-Fueled VeganNation raises $10 million for Vegan Global Marketplace

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VeganNation, has closed on a $10 Million funding round from private investors and is ready for the global debut of the VeganNation platform on webapp, iOS, and Android. VeganNation is the first ecosystem of vegan activists working together to make a positive impact on the environment. The platform uses Blockchain technology to ensure a transparent supply chain and provide a designated coin to serve the community members in all their transactions using the VeganNation digital wallet.  advertisement “This is a major milestone in uniting all environmentally conscious consumers worldwide into…

China Central Bank Crypto Can Cannabalize Alipay, WeChat Pay — Analyst

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China’s answer to Facebook’s Libra digital currency could help the central bank attract business away from Alipay and WeChat Pay. Speaking to mainstream media outlet the South China Morning Post (SCMP) on Aug. 19, Cindy Wang, an analyst at DBS Group Research, said Beijing could profit from the appeal of its state-issued digital currency to merchants. Bringing back bank deposits According to Wang, the two payment giants Alipay and WeChat Pay account for nine out of every ten transactions in China.  In addition, the digital currency could help limit capital…

China Central Bank Crypto Can Canabalize Alipay, WeChat Pay — Analyst

boss

China’s answer to Facebook’s Libra digital currency could help the central bank attract business away from Alipay and WeChat Pay. Speaking to mainstream media outlet the South China Morning Post (SCMP) on Aug. 19, Cindy Wang, an analyst at DBS Group Research, said Beijing could profit from the appeal of its state-issued digital currency to merchants. Bringing back bank deposits According to Wang, the two payment giants Alipay and WeChat Pay account for nine out of every ten transactions in China.  In addition, the digital currency could help limit capital…

Alive, Thriving and Totally Unauthorized: Inside the Underground Market for Telegram’s Cryptocurrency

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The Takeaway: Telegram’s long-awaited blockchain, Telegram Open Network, is said to be scheduled to launch Oct. 31, but the yet-to-be-issued gram tokens are already trading in an unauthorized secondary market. Telegram has yet to publicly or formally acknowledge the project, but investors in last year’s $1.7 billion token offering, widely publicized in the press, are selling their gram allocations via OTC desks, exchanges and special-purpose vehicles. Purchasing tokens this way might be risky, investors warn, as Telegram specifically prohibited investors from re-selling their allocations under penalty of terminating the purchase…

Crypto Exchange Binance Announces New Stablecoin Initiative

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Cryptocurrency exchange Binance has announced that it’s launching a project that will develop cryptocurrencies and digital assets pegged to fiat currencies around the world. Dubbed Venus, the “localized” stablecoin initiative will see the firm utilize its existing infrastructure, such as its public blockchain, Binance Chain, and international payment system, “to empower developed and developing countries to spur new currencies.” Binance said it’s seeking to create new partnerships with governments, enterprises and cryptocurrency and blockchain firms to assist the effort. The exchange stated in its Monday announcement that it “will provide full-process technical…

Binance Reveals ‘Venus’ — Its Own Project to Rival Facebook’s Libra

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Top cryptocurrency exchange Binance is launching an open blockchain project “Venus” focused on developing localized stablecoins worldwide. In an announcement published today, Aug. 19, the exchange argues it is well-positioned to launch such a currency ecosystem in light of its existing public chain technology, Binance Chain, wide user base and already established global compliance measures. Leveraging existing know-how The exchange says it is seeking partnerships with governments, corporations, technology firms, and other cryptocurrency and blockchain projects in order to develop a new currency ecosystem that will empower both developed and…

Crypto Wallet ZenGo Now Supports Facebook’s Libra Testnet

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On Aug. 18, the developers of ZenGo, a non-custodial keyless cryptocurrency wallet solution, announced that their app now supports Facebook’s Libra testnet. Experimenting with Libra According to the announcement, now users “can send and receive Facebook’s new cryptocurrency, Libra, just like any other cryptocurrency in ZenGo.” The developers also noted that the “testnet funds don’t hold any real value and are only for testing purposes.” The post explains: “If you would like to experiment with Libra, you can turn on Libra testnet from the Account tab in the wallet. Once…

Bitcoin (BTC) Price Could Accelerate If It Breaks $10,600

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Bitcoin price rebounded recently and climbed above the $10,200 resistance against the US Dollar. The price is currently trading nicely above $10,300, but facing hurdles near $10,500 and $10,600. There is a connecting bullish trend line forming with support near $10,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely to climb higher if it breaks the $10,600 resistance area in the near term. Bitcoin price is correcting higher with a positive bias above $10,200 against the US Dollar. BTC could continue to…

Crypto Market and Bitcoin Approaching Resistance: BCH, EOS, TRX, ADA Analysis

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The total crypto market cap is climbing higher towards the key $272.0B and $275.0B resistance. Bitcoin price is also approaching the main $10,500 resistance area. EOS price is up more than 5% and it may soon test the $3.850 resistance area. BCH price is recovering and it may break the $320 resistance level in the near term. Tron (TRX) price is up around 8%, but it is still well below the $0.0192 and $0.0200 levels. Cardano (ADA) price recently recovered above the $0.0500 resistance level. Bitcoin price and the crypto…