Day: August 28, 2019

PrimeXBT Research: Where to Invest Safely in 2019

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In July 2019, the United States Fed cut rates by 25 basis points, causing a massive sell-off across most assets and further fueling global economic concerns surrounding a growing trade war between the United States and China. The constant back-and-forth flip-flopping between the two country’s leaders is creating much uncertainty and fear in global markets, and investors are already feeling the burn. Elsewhere, weakening economies mean weakening fiat currencies and already risky emerging markets are at peak risk currently. Even the normally stable bank stocks have begun plummeting, with some…

Bakkt Clients Can Start Warehouse Deposits on Sept. 6

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Bakkt clients will be able to start depositing their funds in the Bakkt Warehouse for physically delivered Bitcoin (BTC) futures starting Sept. 6. Bakkt to debut futures trading on Sept. 23 On Aug. 28, the much-anticipated crypto trading platform Bakkt announced on Twitter that its qualified custodian, Bakkt Warehouse, will begin offering storage of customer’s Bitcoin in early September. Storage will start weeks before the scheduled launch of its platform for daily and monthly crypto futures in the United States on Sept. 23. The platform will enable physical delivery of…

EY Requests to Move QuadrigaCX Crypto Exchange Bankruptcy Case

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EY, the Big Four accounting firm appointed to work on the QuadrigaCX crypto exchange bankruptcy case, wants to move the proceedings from Halifax to Toronto. Local news outlet The Star reports on Aug. 28 that EY has asked a Nova Scotia Supreme Court judge to move the case to Toronto. The firm states that the involvement of four law enforcement agencies has added to the complexity of the case, which has shifted focus to entities based in Ontario.  Bankruptcy proceedings began earlier this year when the exchange’s founder Gerry Cotten…

Global Blockchain Revenues to Hit $10 Billion by 2023: Market Research

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Global revenues for blockchain technology are expected to hit $10 billion by 2023. Tech market advisory firm ABI Research published its findings regarding global revenues from blockchain technology on Aug. 28. Per ABI, investments in the space continue to swell despite the decrease in initial coin offering (ICO) activity, due in large part to venture capital (VC) funding blockchain infrastructure development. Venture capital funding a major factor ABI says that VC is catching up to ICOs as a form of funding, with 620 rounds totaling $3.1 billion last year, up…

CME Bitcoin Futures Averaged $515 Million Daily Volume in May

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The Chicago Mercantile Exchange (CME) Group’s Bitcoin (BTC) futures saw an average daily volume of $515 million in May 2019. Forbes reports on Aug. 28 that the CME Group’s Bitcoin futures are seeing new records in trading activity. CME Group’s managing director Tim McCourt said that in May, Bitcoin futures were, “trading an average of more than 13,600 contracts each day, equal to ~$515 million in notional value or 68K equivalent bitcoins.” Record trading volumes McCourt also noted that, on May 13, Bitcoin traded a record daily volume of 33,677…

Telegram Schedules to Launch Gram Cryptocurrency by November

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As the launch of Facebook Libra looms, another social networking company has decided it’s finally the time to launch its own cryptocurrency. Telegram, a messaging application known for its speed and security, will try to beat Facebook to the punch with a roll out of its long-awaited Gram cryptocurrency. Apart from the digital coin, Telegram is also aiming towards launching its own digital wallet for its 200 to 300 million users. Following in the footsteps of Facebook’ Libra, Telegram expects its digital currency to become the next big thing in…

Venezuelan Pharmacy Chain Accepts Bitcoin Cash for Medicine and Products

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On August 26, a pharmacy chain in Venezuela called Farmarket revealed it now accepts cryptocurrencies through the payment provider Xpay, a subsidiary of Panda Group. Arley Lozano, Panda Group’s founder, explained how Farmarket’s pharmacy franchise has 22 stores located across the country and machines will allow people to purchase goods and medicine with cryptocurrencies like BCH, DASH, DAI, and BTC. Also read: How to Create Non-Fungible Assets and Collectible Tokens With Bitcoin Cash Venezuelan Pharmacy Chain Farmarket Starts Accepting Crypto Payments Over the last few months, Panda Group has been…

Exhausted Bitcoin Cash Bulls Could Spark Crushing Dump to $200 – CCN Markets

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It isn’t looking good for Bitcoin Cash in the short-term, with a plausible 50% retreat in the offing. | Source: Shutterstock Bitcoin Cash may be a good pick for long-term investors due to its strengthening fundamentals. However, the cryptocurrency’s prospects in the short-term are not looking great. The first bitcoin fork is struggling to keep its head above water. The cryptocurrency’s weakness hasn’t gone unnoticed. The widely-followed Peter Brandt took to Twitter to share his bearish sentiments on Bitcoin Cash. The Classical Charting specialist wrote: It is not all peachy…

Self-sufficient London Bitcoin Stock Swells by 300%

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A bitcoin stock listed on the London Stock Exchange has soared by 300 percent to hit its 11-month high. Shares of UK-based Argo Blockchain PLC (LON: ARB) today established a year-to-date peak of $10.96, bringing its maximum yearly gains close to 328 percent. At its weakest, the stock was trading at $2.54 in February 2019, down 85 percent from its first day’s opening rate of $17 a share. Argo Blockchain stock rebounds by 300 percent | Image credits: TradingView.com The latest surge surfaced out of strategic investments. Argo purchased 1,000…

Bitcoin Price Flatlines at $10K as Traders Brace for Expected Volatility

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Bitcoin (BTC) price held above $10,000 for a third day on Aug. 28 as a fresh period of sideways trading endured through the week.  Market visualization. Source: Coin360 Eerie calm descends over Bitcoin markets Data from Coin360 painted a fairly unremarkable picture of Bitcoin markets on Wednesday, the largest cryptocurrency trading in a narrow corridor between $10,050 and $10,250. BTC/USD has stayed above the $10,000 mark since Monday, repeatedly testing but failing to break support for five figures.  Bitcoin 7-day price chart. Source: Coin360 Looking ahead, Friday’s Bitcoin futures settlement…