Day: September 5, 2019

Hurricane Dorian Relief Effort Enlists an Unlikely Ally: Bitcoin – CCN Markets

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The Hurricane Dorian relief effort has teamed up with an unlikely ally in the Bahamas: Bitcoin, along with a helping hand from Coinbase. | Source: Wikimedia Commons (i), AP Photo / Gillian Flaccus (ii). Image Edited by CCN. The Hurricane Dorian relief effort has teamed up with an unlikely ally to help the Bahamas recover from the devastation wrought by the storm: Bitcoin. Coinbase & Bitpay facilitate Bitcoin donations for Hurricane Dorian recovery This has become possible after Lend a Hand Bahamas, a charity organization based on the Caribbean island…

Ethereum Price Technical Analysis: Getting Closer Down to the $170 Support Level

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Ethereum (ETH)trade is currently trading at $172.50. As you can see in the graph below, the ETH price is trading between the channels. The next resistance level is at $182 and support level is at $170. Long positions can be taken around the first support level, keeping the it as a stoploss. The cryptocurrency price is expected to trade between the channels for two cycles, and this can be used for swing trading. Dow Theory According to Dow Theory, the digital coin is currently appearing in the accumulation phase, which…

Binance Joins Forces With Paxos to Launch USD-Backed Stablecoin ‘BUSD’

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Binance, the biggest crypto exchange by volume, and digital asset trust company Paxos announced its partnership to launch a USD-backed stablecoin, which has received approval from the New York State Department of Financial Services (NYDFS) Binance USD available later this month In a press release shared with Cointelegraph on Sept. 5, Paxos co-founder and CEO Asia Rich Teo shared that the NYDFS’s approval of the stablecoin Binance USD (BUSD) is a vital step towards long term stability in global crypto markets. He continued by saying: “We are proud that our…

Binance Launches Dollar-Backed Crypto Stablecoin With NYDFS Blessing

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Crypto exchange Binance is launching a dollar-backed stablecoin in the U.S. Moreover, the new Binance USD (BUSD) has received the blessing of the New York Department of Financial Services (NYDFS). The exchange announced Thursday that NYDFS had approved the new offering, which Binance is launching in partnership with the Paxos Trust Company. The Binance stablecoin will be backed by U.S. dollars on a 1:1 ratio, according to a press release. The offering joins the Paxos Standard and the Gemini Dollar as an NYDFS-approved stablecoin. At launch, verified Paxos customers will be…

Binance Labs Leads $5.7M Series A Round to Launch FIO Protocol

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A venture arm of major global crypto exchange Binance has led a $5.7 million funding round to launch new decentralized blockchain protocol, the FIO Protocol. According to a press release shared with Cointelegraph on Sept. 5, Binance labs has invested in Denver-based blockchain usability firm Dapix, which is developing the Foundation of Interwallet Operability’s (FIO) Usability Protocol. The Series A round was also participated by existing investors such as Access Venture Partners and Dundee Venture Capital, as well as new investors including Blockwall Capital, NGC Ventures and LuneX Ventures. The…

Could US-China Trade Agreement Wipe Out Bitcoin Price Gains? |

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Bitcoin looked cautious on Thursday as the United States and China announced that they would restart trade negotiations. Chinese Vice-Premier Liu He and the US Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer earlier today spoke over the phone. The two sides decided to meet in Washington in mid-October to negotiate a win-win trade deal. “On the basis of full preparation by the working groups of both sides, efforts striving for substantive progress will be made in the 13th round of China-US high-level economic and trade consultations in early…

‘We’re Watching Crypto’ — Apple Exec Acknowledges Long-Term Potential

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Jennifer Bailey, the vice president of Apple’s payments service, Apple Pay, said that the company sees potential in cryptocurrencies. CNN reported on Sept. 5 that Bailey told the outlet’s chief business correspondent Christine Romans at a private event in San Francisco: “We’re watching cryptocurrency. […] We think it’s interesting. We think it has interesting long-term potential.” A shot in the arm for crypto Apple’s interest in cryptocurrencies follows a similar widely-covered move announced by the social media giant Facebook, which announced its Libra cryptocurrency in June. CNN quotes Dan Ives,…

Chicago Mercantile Exchange (CME) Planning to Launch Bitcoin Options Trading

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After a massive demand for its Bitcoin Futures Contract this year, the CME Group is planning to introduce Bitcoin options contracts as per the internal source. Back in December 2017 when Bitcoin was trading at its all-time high of $20,000, the Chicago Mercantile Exchange (CME) was the first to launch Bitcoin Futures contracts in the market. As per the latest news, CME plans to bring yet another Bitcoin derivatives product in the market. On Wednesday, September 4, The Block publication reported that the Chicago-based exchange plans to bring Bitcoin Options trading facility…

Strongest-Ever Bitcoin Price Streak Hits Record 81 Days Above $9,000 – CCN Markets

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In a sign of its growing maturity, bitcoin is nearing a 3-month period with a bottom at $9000. | Source: Shutterstock The bitcoin price has held above $9,000 for a record 81 days, a feat it couldn’t manage even during the monster bull run of 2017. Although BTC remains around 50% below its all-time high, the price is arguably stronger and more resilient than ever as it consolidates around $10,000. The bitcoin price has held above $9,000 for 81 days, longer than the epic bitcoin ‘bubble’ of 2017. Source: CoinMarketCap…

Bitcoin Price Rejected at $10.8K as Crypto Market Braces for Bakkt

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Bitcoin (BTC) price continued to fluctuate around $10,500 on Sept. 5 as the largest cryptocurrency stopped short of breaking $11,000. Market visualization. Source: Coin360 Bitcoin simmers after latest $11K moonshot Data from Coin360 showed less volatile action for BTC/USD on Thursday, following the pair’s sudden rise of over $1,000 in the first half of the week.  At press time, Bitcoin traded at $10,620, compared with just $9,350 at the same point last week.  Bitcoin 7-day price chart. Source: Coin360 The 12% seven-day gains excited analysts, who abandoned bearish sentiment to…