Crypto Market Cap And Bitcoin Facing Resistance: BCH, BNB, EOS, TRX Analysis

The total crypto market cap is facing a strong resistance near the $220.0B level. Bitcoin price is also trading below a crucial resistance area near the $8,500 level. EOS price failed to hold the $3.000 support and declined below $2.950. Binance Coin (BNB) is declining and it might test the $15.00 support area. BCH price struggled to clear the $235 resistance and it is currently trading towards the $220 support. Tron (TRX) price is down more than 5% and it broke the $0.0140 support area. The crypto market cap and…

CNH Tether Avoids USDT Regulatory Risk

In late August various crypto media reported that Tether planned to issue a Chinese yuan-backed stablecoin. Bitfinex shareholder Zhao Dong told ChainNews that the stablecoin would be called CNHT and be held in offshore accounts. Zhao also said that his peer-to-peer lending platform, RenrenBit, had invested in the project and on Sept. 9 Tether officially announced the launch of CNHT.  At the time Zhao said:  “Personally, I think the offshore yuan stablecoin could boost the circulation of offshore renminbi and internationalize it. Regulators may be happy to see it proceed…

Ripple Price (XRP) Trimming Gains, Can It Hold Key Supports?

Ripple price failed to break the $0.2620 resistance and declined recently against the US dollar. The price is currently trading near the $0.2450 support and is struggling to bounce back. There is a short term bearish trend line forming with resistance near $0.2510 on the hourly chart of the XRP/USD pair (data source from Kraken). The price is likely to extend its decline and it could revisit the $0.2350 support area in the near term. Ripple price is trimming yesterday’s gains against the US Dollar and bitcoin. XRP price is…

Ethereum (ETH) Price Likely Preparing For Corrective Move To $200

ETH price started an upside correction and tested the $185 resistance against the US Dollar. The price is currently correcting lower, but it remains supported near $175 and $172. There is a new connecting bullish trend line forming with support near $171 on the hourly chart of ETH/USD (data feed via Kraken). The price remains well supported on dips near the $172 and $170 levels in the near term. Ethereum price is showing positive signs above versus the US Dollar, while consolidating vs bitcoin. ETH price is likely to break…

BitShares DEX Gateway CryptoBridge Implements Mandatory KYC for Users

BitShares Decentralized Exchange (DEX) gateway CryptoBridge announced on Oct. 1 that it has implemented mandatory user Know Your Client (KYC) verification. European regulation is responsible Per the announcement, the reason for the upcoming mandatory KYC is the 5th EU Anti-Money Laundering Directive (AMLD5). Interestingly, CryptoBridge also noted that the company wants to challenge international financial regulation: “While we still strive to present new challenges for international financial regulation, we are facing the 5th EU Anti-Money Laundering Directive (AMLD5) and will adjust our gateway services to pave the way for CryptoBridge…

Customs Agents Seize Crypto Mining Units Smuggled out of Mongolia

The Federal Customs Service of the Russian Federation stopped the illegal import of four crypto mining devices from Mongolia into Russia. Crypto mining equipment confiscated On Oct. 1 Coinspot reported that a Mongolian citizen was trying to smuggle the four mining devices with fans and connected microcircuits across the Russian/Mongolian border into Russian territory. The custom services explained that the smuggler was detained by Altai customs officers during a border check in the rural locality Tashanta. The detainee couldn’t provide any legal documents for the crypto mining equipment, which was…

SEC Settles With Nebulous For Unregistered Offering of Sianotes in 2014

The United States Securities and Exchange Commission (SEC) reached a settlement with Nebulous, the firm behind the Sia decentralized cloud storage network. $225,000 in disgorgement and penalties On Oct. 1 the SEC announced in a press release that it has settled the charges against the firm behind the Sia network in the form of a civil monetary penalty. Nebulous settled the charges without admitting or denying the findings. According to the U.S. regulator, the Massachusetts-based blockchain business conducted an unregistered offering of Sianotes in 2014, for a total of $120,000,…

Coinbase, Pantera Capital Participate in $2.4M Seed Round of DeFi Startup

Decentralized finance (DeFi) startup InstaDApp has secured $2.4 million in a seed round from an array of strategic investors, including Coinbase Ventures and Pantera Capital. New funding Per an Oct. 1 blog post, InstaDApp saw funding from investment firms Coinbase Ventures, Pantera Capital,  Robot Ventures, venture capital company IDEO Colab and a number of other investors. InstaDApp is the developer of a mediator smart wallet layer between the user interface and protocols that purportedly simplifies the cost of conducting financial transactions. The startup claims that its protocol launch saw a…