Day: August 26, 2019

Bitcoin Beat Gold as Safe Haven in US-China Trade War Moments: Study

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While the U.S.-China trade war has been a cause of pain for stock market investors, it has been a boon for bitcoin, per a new study. According to trading platform eToro, the number of bitcoin positions opened at key moments of the Sino-U.S. trade tensions this year outpaced those of gold positions entered during the same period, as Business Insider initially reported. Between May 19 and Aug. 19, bitcoin trades surged by 282 percent compared to the period between March 22 and June 22 last year when the U.S.-China trade tensions…

Dow Bounces Back, But Trade War Plunges Yuan to 11-Year Low

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The Dow and broader U.S. stock market advanced on Monday, mere hours after the Chinese yuan’s offshore rate plunged to record lows, raising alarms about capital flight from East Asia. Dow Rallies; S&P 500, Nasdaq Follow All of Wall Street’s major indexes reported firm gains, with the Dow Jones Industrial Average gaining as much as 312 points. The blue-chip index closed up 269.93 points, or 1.1%, at 25,898.83. Dow Jones Industrial Average begins the long road to recovery with 270-point gain. | Source: Yahoo Finance. The broad S&P 500 Index…

Price Analysis 26/08: BTC, ETH, XRP, BCH, LTC, BNB, EOS, BSV, XMR, XLM

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Bitcoin is in a no-man’s land. At what levels will it indicate a resumption of the uptrend? Let’s analyze the charts. Cryptocurrencies can benefit from wider adoption and many believe that with a user base of about two billion people, Facebook can speed up the process. Its Libra project has drawn sharp criticism from regulators, finance ministers and central banks around the world.  Previously, Bitcoin rallied along with risky assets, however, in the past few months, it has been acting similar to a safe haven, though it is not there…

Swiss Regulator Grants First-Ever Banking Licenses to 2 Blockchain Firms

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By CCN Markets: Blockchain projects around the world have been seeking approval, or for that matter, concrete guidance, from regulators such as FINMA for the last several years. FINMA, the Swiss financial regulatory watchdog, has approved two requests for banking licenses. The two licenses were issued to blockchain businesses. These regulatory strides are not likely to directly impact other jurisdictions but more so will impact how regulation is formed everywhere else. Only time will tell how these regulations impact innovation. What a great day for Switzerland as a #Blockchain and…

Bitcoin Rewards App Lolli Partners With Major US Pet Store Chain

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Lolli, an app that provides Bitcoin (BTC) rewards to users when they shop with partner stores, has teamed up with major American pet retailer Petco. The rewards deal with Petco Lolli announced the new partnership in an official blog post on Aug. 23. In the announcement, the company notes that there are two new veins of rewards that come with the partnership. One is that Lolli users can earn up to 3.5% satoshis (sats) of their purchases on Petco’s website, Petco.com.  Another is that Lolli users can earn a flat…

Ethereum Foundation Grants $2.46 Million to Network Developers

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The Ethereum Foundation (EF) announced that over $2.46 million in grants will be given to finance Ethereum 2.0 development. In a post published on the official blog on Aug. 26, EF announced that it has “granted financial awards to various client development teams. The teams in question are tasked with creating Test Networks (testnets) compatible with multiple clients as the first phase of development approaches. The funds will go to nine companies and researchers. Many companies received funding for client development, such as Harmony which has been awarded $189,000 for…

Investor in Overstock’s Blockchain Firm TZERO Backs Out

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Singaporean private equity firm Makara Capital said it will not invest in Overstock’s blockchain subsidiary tZERO. In an Overstock investor call on Aug. 26, Overstock’s interim CEO Jonathan Johnson said that Makara recently informed the firm that they “will be not investing in tZERO right now.” Medici Ventures will continue to support tZERO Johnson emphasized that Makara remains excited about tZERO’s product and will potentially reconsider its investment decision as tZERO progresses. In the meantime, Overstock’s blockchain-focused venture arm Medici Ventures will continue to support the project, Johnson stated. The…

Swiss Crypto Banks Receive Licenses From Financial Regulator

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The Swiss Financial Market Supervisory Authority (FINMA) has reportedly granted two banking and securities dealer licences to crypto-focused banks. Two Swiss crypto-specializing firms, Seba Crypto AG and Sygnum have received banking and securities dealer licenses, the banks said in separate statements on Aug. 26. With the new license, Seba expects to officially launch its new trading platform platform in early October 2019, the company stated. Seba’s plans include the establishment of a digital asset platform for professional traders, firms and institutional clients, as well as custody storage and asset management.…

Is the Regime Responsible for Major Hacks?

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For many years now, the media periodically reports news regarding the alleged mischiefs pinned on the North Korean hackers that are seemingly detriment to target fintech businesses. But this fact seems quite odd, considering that the International Telecommunication Union estimated that the actual percentage of the population of the Democratic People’s Republic of Korea using the internet is close to zero. Definitively, it is an environment not favorable for nourishing the skills and ambitions neither of vicious cyber-criminals nor honest cyber-entrepreneurs. However, the North Korean case shows how cryptocurrencies —…

Crypto Analyst – CCN Markets

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By CCN Markets: Litecoin’s recent block reward halving was supposed to be a bullish catalyst for the LTC price. Unfortunately, the long-anticipated event failed to help the struggling cryptocurrency rally against Bitcoin. Instead, it merely provided even more ammunition for Litecoin critics. Litecoin halving the price lol — PonziBonziBb (@jerry4562) August 20, 2019 However, “Trader Max” (also known as “Bitcoin Jack“), the lead analyst at Bravado Trading, told CCN that he believes the Litecoin price is poised to surge 100 percent against Bitcoin. Litecoin Price Technical Analysis The Litecoin price…