Month: August 2019

Crypto Market & Bitcoin Extended Losses: BCH, EOS, TRX, ADA Analysis

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The total crypto market cap extended its decline below the $240.0B support area. Bitcoin price is under a lot of pressure and it even broke the $9,500 support area. EOS price is slowly moving lower towards the $3.100 and $3.000 support levels. BCH price broke the $280 support and it seems to be moving lower towards the $270 level. Tron (TRX) price is still holding the key $0.0150 support area and is consolidating losses. Cardano (ADA) price is facing an uphill task and it may decline further to $0.0420. Bitcoin…

SBI Holdings’ Subsidiary to Pay Shareholders Dividends in XRP

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On Aug. 29, MorningStar Japan, a subsidiary of financial services giant SBI Holdings, announced that it will offer its shareholders dividends in the form of XRP tokens. According to the statement, the Japanese company will offer 30 XRP to its shareholders if they hold a minimum of 100 shares by Sept. 30.  Shareholders will receive 30 XRP It is noted that shareholders who are eligible to receive 30 coins of the world’s third largest cryptocurrency by its market capitalization will have to open an account with cryptocurrency exchange SBI VC…

Ripple Price (XRP) Showing Signs of Further Weakness

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Ripple price recovered recently, but it failed to break the $0.2600 resistance area against the US dollar. The price is currently moving lower and remains at a risk of more downsides below $0.2500. Yesterday’s highlighted major bearish trend line is active with resistance near $0.2580 on the hourly chart of the XRP/USD pair (data source from Kraken). The current technical structure suggests more downsides as long as the price is below $0.2620. Ripple price is gaining bearish momentum against the US Dollar and bitcoin. XRP price could trade to a…

Ethereum Price (ETH) Testing Crucial Support But Recovery Won’t Be Easy

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ETH price is under a lot of pressure below the $170 and $175 resistances against the US Dollar. The price is likely to decline sharply if it settles below the $165 support area in the near term. There is a declining channel forming with resistance near $169 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent recovery if the bulls manage to push the price above the $175 resistance. Ethereum price is trading in a bearish zone versus the US Dollar and bitcoin.…

No Bank Account Needed to Transfer China’s Upcoming CBDC

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Binance Research, the research arm of the major crypto platform Binance, has reported that no bank account will be necessary to use China’s Central Bank Digital Currency (CBDC). Loose coupling and anonymity Binance Research shared its findings on Aug 28. According to the report, China’s CBDC will be transferable without a bank due to its loosely coupled design. As explained by the researchers, a loosely coupled design refers to a system of components that do not all depend on each other. The upshot is that users will reportedly be able…

Cryptojacking Campaigns Up by 29%, Ransomware Attacks Up 118%

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Cybersecurity company McAfee Labs has released its August 2019 threat report, which notes an increase in cryptojacking campaigns and ransomware attacks in Q1 2019. Cryptojacking on the rise McAfee Labs posted their report on the company’s website on Aug. 28. According to the report, crypto jacking — installing and running a cryptocurrency miner without user permission — has been on the rise, with a 29% increase in crypto jacking campaigns in Q1 2019. Additionally, the company discovered new malware families for both Microsoft Windows and Apple users. One crypto jacking…

Bitcoin Price Update: Where do we go from here?

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Well, Bitcoin (BTC) decided to take the bearish path, or maybe larger players that shape the market made the choice for it. The ascension from the narrowing pennant proved to be a fakeout and a tweezer top at $10,278 was followed by a sharp reversal all the way to the bottom of the larger bull pennant that Bitcoin has traded in since topping out at $13,800 on June 26th.  The majority of popular crypto-Twitter traders fell mysteriously mute as the carnage unfolded on August 28. As mentioned previously, the danger…

Mercedes-Benz in China Joins PlatOn for Blockchain Used Car Data

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Blockchain solutions company PlatOn has created a platform for storing data and calculating the price of used business cars at Beijing Mercedes-Benz Sales Service (BMBS). Calculating and monitoring car price PlatOn shared the news with Cointelegraph on Aug. 29. According to the announcement, PlatON’s blockchain-based Vehicle Residual Value Management Platform can store both static and dynamic data, which will be used to automatically calculate the residual value of registered vehicles over time.  Additionally, the Vehicle Residual Value Management Platform will reportedly be open to the used car market, including entities…

Thai Customs Department Plans to Use IBM’s Tradelens to Track Shipping

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Thailand’s Customs Department intends to use IBM’s Tradelens blockchain solution to track shipping in Thai ports. According to an announcement published on Aug. 28 on the Thai Customs Department’s official website, the country plans to use Tradelens, a blockchain logistics system. Local news outlet Bangkok Post reported the next day that the platform is expected to streamline operations by managing shipment tracking and information sharing. Thailand’s push for innovation The Tradelens platform is the joint project of transport giant AP Moller-Maersk and IBM. The decision to adopt it in the…

3 Simple Reasons NOT to Buy the Bitcoin Dip – CCN Markets

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Cutting through the squiggly lines of technical analysis, here are three very simple reasons why you should NOT be buying any Bitcoin in the short term. | Source: Shutterstock Bitcoin’s recent drop below $10,000 split an already fractured cryptocurrency community into two distinct camps. On one side are the optimists who believe Bitcoin’s drop to $9,400 is merely a blip on the way to the moon – and an excellent opportunity to buy more coins. On the other side are those who believe the summer pump is over and more…