Day: October 4, 2019

Ethereum Is Useless — Bitcoin Price Could Hit $100K in 2023

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After an incredibly disappointing year in 2018, Bitcoin woke from hibernation in early April 2019 and rallied with vengeance toward a yearly all-time high at $13,800. Alas, all good things must come to an end and such was the case for Bitcoin as price became overextended and began to retrace.  Bitcoin’s current malaise in the $7,800 to $8,500 range has produced a variety of price estimates on where the digital asset might go as the 2020 Bitcoin halving event approaches. This week Cointelegraph spoke to veteran trader and Bitcoin expert…

Altcoins See Mild Gains While Bitcoin Hovers Around $8,100

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Friday, Oct. 4 — The top-20 crypto markets are solidly in the green, with just a few reporting mild losses, according to data from Coin360. Bitcoin (BTC) has been trading sideways after its slump from $8,400 to $8,100. Market visualization. Source: Coin360 The price of BTC has remained in a narrow corridor between $8,009 and $8,314 today, the price points which mark the low and the high of the leading crypto on the day. At press time, BTC is trading at around $8,131, up a modest 0.31% and trying to…

Galaxy Digital, XBTO Just Made the First Block Trade of Bakkt Bitcoin Futures

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Cryptocurrency investment fund Galaxy Digital and over-the-counter (OTC) trading firm XBTO have conducted the first-ever block trade of Bakkt’s bitcoin futures contract. Intercontinental Exchange (ICE), Bakkt’s parent company, announced the trade Friday but did not disclose its size. A block trade is a large transaction that takes place off the open market in order to avoid moving the price too much. The trade, which took place Tuesday, comes on the heels of a disappointing launch last week for the much-hyped Bakkt, whose on-exchange volume in its first five trading days…

Report: Canadian Blockchain Industry Has Some of The Highest Paid Workers in the Country

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The Chamber of Digital Commerce Canada has released a comprehensive report, developed by the Don Tapscott’s Blockchain Research Institute found that the average annual blockchain salary in Canada is more than $98,000, nearly double the average Canadian salary making this  among the highest-paid sectors in the country, on par with senior government officials, engineers, and professors. advertisement “Our strong education and immigration systems, stable financial markets, thought leadership and traditions of stability and consumer protection make Canada’s economy world-class. These strengths need not be at odds with innovation and entrepreneurship,”…

ConsenSys Fully Acquires Ethereum Infrastructure Provider Infura

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Ethereum (ETH) venture production studio ConsenSys has announced that it had fully acquired Infura, a blockchain infrastructure provider that the firm previously backed. According to the blog post published on Oct. 4, Infura will continue its operations as a wholly owned business unit within the studio. Infura also noted that ConsenSys’s founder Joseph Lubin was one of the startup’s early investors. Centralization criticism Infura is providing Ethereum infrastructure for building decentralized applications, allowing developers to deploy their solutions without hosting their own full node. In July 2019, the firm launched…

Two US Congressmen Ask the Fed to Create a National Digital Currency

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Two U.S. congressmen from both major political parties, French Hill (R-Ark.) and Bill Foster (D-Ill.), have written a letter to the Federal Reserve Chairman Jerome Powell, urging the central banking organization to start working on a ‘national digital currency’ in lieu of the various risks that the U.S. dollar faces. In the letter, both of the congressmen expressed their concerns regarding the rapid development of cryptocurrencies by various states around the world. The letter referred to the constitutional right of the Federal Reserve to create and manage U.S. currency policy…

Stablecoins ‘May Pose Regulatory Challenges’

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Randall Quarles, chair of the Financial Stability Board (FSB), has claimed that the potential scale of stablecoins such as Facebook’s Libra could present future “regulatory challenges.”  Quarles voiced his opinion during a presentation at the European Banking Summit in Belgium on Oct. 3. FSB leads G20’s work on stablecoins going forward Quarles specifically highlighted yet unreleased Libra stablecoin as the catalyst that has significantly increased public interest in the subject. This could potentially bring a new scale and scope to the space, which the financial regulatory community must carefully consider.…

Crypto Investment Group Grayscale Releases Bitcoin Cash Primer

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Crypto investment firm Grayscale has just released “An Introduction to Bitcoin Cash” highlighting the basics of BCH for those who may be yet unfamiliar, or just wish to brush up on the popular token forked from Bitcoin Core on August 1, 2017. With a significant reputation in the industry, Grayscale’s release of the document marks yet another important milestone in BCH recognition and adoption worldwide. Also Read: Ohio Removes Option to Pay Taxes With Crypto While Local SLP Project Presses Forward Grayscale Talks Bitcoin Cash Grayscale Investments is a well-known…

Coinbase Pro’s Fees Surge 233% for ‘Lower-Volume’ Users, Whale Fees Drop

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Major United States-based crypto exchange and wallet service provider Coinbase has announced that it will increase trading fees again on its professional platform Coinbase Pro. Maker fees for trades under $10K surge over 200% Starting from Oct. 7, Coinbase Pro will adopt a new fee structure that will cause its maker trading fees for low tier — $10,000 and below — to surge as high as 233%, according to the update posted on Oct. 3. Following another surge in March 2019, Coinbase Pro currently charges all accounts trading under $100,000…

Verisart Raises $2.5M to Expand Its Blockchain-based Art Verification Services

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Verisart’s funding will be spent on extending the product and engineering team as well as launching a suite of premium services aimed at artists, galleries and collectors.  Verisart is a platform designed to conduct certification and verification of artworks of different types which is carried out with the help of blockchain. Now it has become known that it has managed to get $2.5 mln in seed financing. The list of the most prominent participants of this round included Sinai Ventures, Galaxy Digital, EOS Fund, and Rhodium. The money raised will…