Day: September 6, 2019

Deloitte, TruTrace Eye Blockchain to Improve Cannabis Quality Control and Safety

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Courtesy of TruTrace Technologies Deloitte and TruTrace Technologies (CSE: TTT) (OTCQB: TTTSF) have formed a strategic alliance to build blockchain product-traceability solutions to the cannabis industry. In a statement, the companies said the new system will improve clients’ ability to build trusted brands, ensure accurate shipments to medical and recreational distributors and retailers, and help consumers buy verified products from credible sources. Solution to Main Challenge Cannabis legalization in Canada has resulted in exciting opportunities and innovations for industry stakeholders, as well as complex business challenges. One of the main…

Mystery 94K BTC Transaction Becomes Richest Non-Exchange Address

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The recipient wallet of the $1 billion Bitcoin (BTC) transaction on Sept. 6 is now presumed to be the first richest non-exchange address. The recipient wallet of the massive 94,504 Bitcoin ($1.031 billion) transaction is the top richest Bitcoin address that is not reportedly associated with any crypto-related company, according to data from monitoring resource Bitinfocharts. Top 5 richest Bitcoin addresses. Source: Bitinfocharts A third of the coins came from Huobi According to data by London-based blockchain data provider TokenAnalyst, at least one third of the mysterious transaction directly originates…

Bitcoin Near $11k to Close First Positive Week in a Month

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A buoyant sentiment carried into the bitcoin market this Friday as the benchmark cryptocurrency inched towards the $11,000 level. The BTC/USD instrument established a local top of $10,925 on San Francisco-based cryptocurrency exchange at 1215 UTC. The move brought the pair to its 16-day high and further promised to end the week in positive territory. Bitcoin had registered losses in the last three weeks, losing up to 19.33 percent against the US dollar. Bitcoin surged by more than 3 percent on Friday | Image credits: TradingView.com Fingers Crossed at $11,000…

Trump’s Trade War May Be Driving Chinese Investors to Bitcoin

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As the Chinese yuan falls in value due to factors like the ongoing trade war with the U.S., there are signs that locals are increasingly moving funds into bitcoin. According to a Bloomberg analysis of prices over 30 days, the negative correlation between the yuan and bitcoin has fallen to a record low in the last seven days. While previously the Chinese government has sought to keep the value of its national currency above 7 CNY to the dollar, last month the yuan was allowed to slide below that level,…

Trump’s Trade War May Be Driving Chinese Investors to Bitcoin

boss

As the Chinese yuan falls in value due to factors like the ongoing trade war with the U.S., there are signs that locals are increasingly moving funds into bitcoin. According to a Bloomberg analysis of prices over 30 days, the negative correlation between the yuan and bitcoin has fallen to a record low in the last seven days. While previously the Chinese government has sought to keep the value of its national currency above 7 CNY to the dollar, last month the yuan was allowed to slide below that level,…

JPMorgan Warns Stablecoins Like Libra at Risk of ‘System Gridlock’

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The new breed of stablecoins led by Facebook’s Libra could be vulnerable to failure in periods of network stress.  According to an analysis from JPMorgan released on Sept. 5, they lack the short-term liquidity of other payments systems, so usage could grow faster than the network can safely support. Transaction growth could outpace network capacity In a note to clients, analysts highlighted the potential for substantial growth in stablecoin payment systems like Libra.  But JPMorgan urges caution if the networks become responsible for a significant proportion of global transaction activity.…

Did Bakkt Just Moved $1 Billion in Bitcoin for $700 Fee?

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A $1 billion Bitcoin (BTC) transaction became conspicuous because its sender spent far too much on fees. Some are guessing at the origin and destination of the funds with some believing it’s tied with Bakkt. There was a $1 billion Bitcoin (BTC) transaction whose sender spent a bit too much on fees. Social media users are guessing at the origin and destination of the funds on Sept. 6, that involves 94,504 BTC ($1.018 billion). According to Twitter-based monitoring resource Whale Alert, the transaction did not include already known wallets or…

Gemini Has Launched a New Service to Make OTC Trading Available for Everyone

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According to Gemini, off-exchange or OTC trades on the new Gemini Clearing platform can be carried out both between two parties or through third-party brokers.  Cryptocurrency exchange Gemini has come up with a new digital clearing and settlement solution. Named Gemini Clearing, the new service allows traders to negotiate off-exchange or over-the-counter (OTC) crypto trades using Gemini accounts. .@Gemini is continuing to expand its institutional offering with Gemini Clearing™, a fully-electronic clearing and settlement solution for off-exchange or over-the-counter (OTC) crypto trades. https://t.co/iR7bP8qk2f — Tyler Winklevoss (@tylerwinklevoss) September 5, 2019…

Dazzling Bitcoin Price Run Sparks Forecasts for Fresh 2019 Highs

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Bitcoin is looking at a fresh yearly high if support sticks, analysts have claimed. | Source: Shutterstock Since September 2, within four days, the bitcoin price has recovered from $9,500 to $10,700, rising by well over 10 percent against the U.S. dollar. The bitcoin price on a steady recovery since early September (source: coinmarketcap.com) As bitcoin stabilizes above an important resistance level at $10,000, technical analysts anticipate the asset to establish a basis for the next rally. Potential yearly high by the year’s end for bitcoin Historically, following a strong…

Early Tester Finds Both Binance Futures Platforms ‘Currently Unusable’

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Bitcoin futures offerings from cryptocurrency exchange Binance have come in for criticism as a pre-release tester identifies major flaws. Rocky start for Binance PR move In a series of tweets on Sept. 6, the account known as doublejump said both the options currently under consideration by Binance lacked basic features, which are essential for ease of use. As Cointelegraph reported, Binance has released two separate versions of its futures trading platform for testing by users, and plans to reward those who test and correctly vote for the winner.  Platform A…