Day: October 2, 2019

Leading Japanese Firms Form Security Token Offering Association

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Leading Japanese companies are forming a regulatory association for security token offerings (STO). On Sept. 30, the Nikkei Asian Review reported that firms such as SBI Securities, Nomura Securities, Monex Group and Daiwa Securities Group are part of the STO association that will propose a new set of rules and seek approval from the country’s financial watchdog organization, the Financial Services Agency. STO’s are set to become a new way of raising capital in Japan as early as next April when a legal change will make them an option for…

Markets Trading Flat After Fake Breakout, Bitcoin Hovers Around $8,300

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Wednesday, Oct. 2 — After a fake breakout, where Bitcoin (BTC) jumped upwards from a seven-day low of $7,746 to $8,480 from Sept. 29–Oct. 1, BTC slowly retraced to its current price level. Cryptocurrency market daily overview. Source: Coin360 One week since Bitcoin suffered from double-digit losses, the coin is back to trading sideways, at a similar price point as seven days ago. The most popular crypto coin was showing bullish price behavior over the last 48 hours, which proved to be unsustainable, most likely due to the lack of high…

Price Analysis 02/10: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, LEO

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After a shallow pullback, will major cryptocurrencies extend their decline? Let’s study the charts. Manuel Andersch, senior FX analyst at the Bayerische Landesbank has published a report, which suggests that the “forthcoming halving effect has hardly been priced into the current Bitcoin (BTC) price.” Using a stock-to-flow ratio metric, the report projects a target price of $90,000 for Bitcoin in 2020. Though there were great expectations for the launch of Bakkt, it turned out to be a dud. A new report by Binance research suggests that the disappointing trading volume…

The Final Frontier for Global Crypto Adoption

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Earlier in September, Cointelegraph reported that Israeli cybersecurity startup GK8 had raised $4 million to finance its offline cryptocurrency transaction solution. The company developed a cold wallet with “hot wallet functionalities” that is completely shielded from online hackers because it does not require an internet connection.  Apart from creating additional security layers, offline transactions could, in theory, enable complete censorship resistance for cryptocurrencies. Being able to sign, send, validate, receive and record value transfers without the internet might also be the key to ensuring global cryptocurrency adoption. To this end, there are…

Why Did Bitcoin Break Down From $9,000, and Where Is It Heading?

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As Bitcoin’s (BTC) price floats in the waters of uncertainty in the low $8,000 range, one might wonder how crypto’s largest asset found itself at the bottom of a steep drop after its exuberant price rise from $3,330 to $13,880 earlier in 2019. One explanation could be that the move was simply the market’s reaction to a chart pattern many experts had their eyes on for months.  After its June 26 price high at $13,880, Bitcoin formed a descending triangle, followed by multiple months of consolidation. Near the end of…

Telegram Messenger to Officially Launch TON Network in Late October

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Encrypted messaging service Telegram will launch its long-awaited TON blockchain network in late October. In an Oct. 2 message in the official TON Board on Telegram, the firm states that original investors were informed that the network would launch later this month.  Investors are provided with TON key generation software and will be required to provide Telegram with a public key to receive their Gram tokens by Oct. 16th. The entire source code for TON is now available on Github. Original

Following New Partnership, BitPay Adds Support for XRP

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Major cryptocurrency payment processor BitPay has entered a partnership with Ripple’s investment arm Xpring to support payments with XRP. The development was announced in an Oct. 2 press release, revealing that now businesses can accept the third-largest digital currency XRP for payments via BitPay’s cross-border payments platform. As part of the cooperation, BitPay is also integrating its BitPay Wallet with Xpring’s developer platform. In a separate announcement, Xpring added that global companies are now able to accept XRP through BitPay without the need for integration and enhancements.  Earlier today, Cointelegraph…

Coinbase to Pay US Users Interest for Holding USDC Stablecoin

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Major United States-based cryptocurrency exchange and wallet service Coinbase now allows holders of USD Coin (USDC) to earn a 1.25% annual percentage yield (APY). In a blog post on Oct. 2, Coinbase said that eligible U.S. customers will begin earning 1.25% APY rewards on every USDC they hold on Coinbase with rewards being distributed on a monthly basis. Interest earning is not available for customers in New York state. In the announcement, Coinbase described USD Coin as a stablecoin that offers price stability by being backed by a reserve asset.…

It’s Too Soon to Write Off Bakkt, Wall Street Analyst Tells ICE Investors

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It’s too soon to write off Bakkt, despite the bitcoin futures market’s disappointingly slow start, analysts at Oppenheimer & Co. said. In an Oct. 1 research note, the equity research firm encourages investors to “not get upset” about the lackluster trading volume of Bakkt. For one thing, its parent company, Intercontinental Exchange, has plenty of other electronification initiatives in fixed income analytics and trading, mortgages and exchange-traded funds (ETFs), wrote Oppenheimer senior analyst Own Lau and managing director Chris Kotowski. Bakkt’s average daily futures volume was 125 contracts, each for…

It’s Too Soon to Write Off Bakkt, Wall Street Analyst Tells ICE Investors

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It’s too soon to write off Bakkt, despite the bitcoin futures market’s disappointingly slow start, analysts at Oppenheimer & Co. said. In an Oct. 1 research note, the equity research firm encourages investors to “not get upset” about the lackluster trading volume of Bakkt. For one thing, its parent company, Intercontinental Exchange, has plenty of other electronification initiatives in fixed income analytics and trading, mortgages and exchange-traded funds (ETFs), wrote Oppenheimer senior analyst Own Lau and managing director Chris Kotowski. Bakkt’s average daily futures volume was 125 contracts, each for…