Day: November 5, 2019

Bitcoin’s Price Hovers Above $9,300, While Stellar Shows 20% Gains

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Tuesday Nov. 5 — Crypto prices continue to show upward momentum across markets, while Bitcoin (BTC) hovers around the $9,300 price mark and Stellar (XLM) takes a shot at the moon with gains of more than 20%. Cryptocurrency market daily overview. Source: Coin360 Bitcoin was trading close to the $9,400 price mark for a large part of the day but is showing signs of downward price behavior in recent hours. The world’s largest cryptocurrency traded at an intraday high of around $9,465, before losing ground towards its current trading price…

Rep. Davidson Sees Place for Blockchain in US Manufacturing Despite Congress’ Concerns

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United States pro-crypto Congressman Warren Davidson (R-OH) has once again called for clear regulations of blockchain industry to maintain U.S. economic dominance. On Nov. 4, Davidson published a letter in the Wall Street Journal in response to an Oct. 24 report on automation in manufacturing. The congressman urged the U.S. government to encourage innovators to stay in the country. The letter read: “If we allow fear to stifle their efforts, we risk surrendering global superiority and sacrificing improvements in quality of living.”  Rust-belt woes in the face of changing manufacturing…

Oxfam’s Blockchain-Based Agricultural Insurance Pays Farmers in Sri Lanka

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The United Kingdom-based charity organization Oxfam International announced the success of its blockchain-based delivery system of microinsurance to paddy field farmers in Sri Lanka. In a Nov. 4 press release, Etherisc announced that Oxfam’s blockchain-based insurance system had made pay-outs to Sri Lankan farmers who continue to risk losing their crops due to extreme weather events. Blockchain reduces costs and increases pay-outs Oxfam in Sri Lanka, together with its partners Etherisc and Aon plc, will now continue to seek solutions to some of the challenges that will present themselves as…

VeChain (VET) Smashes 3-Month High With Stunning 14% Surge as Broader Cryptocurrency Market Stands Still

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VeChain (VET) approaches $0.005 on Tuesday for the first time since Aug. 12. VeChain co-founder and CEO Sunny Lu will deliver a keynote address at The Capital, an upcoming industry conference hosted by CoinMarketCap. The broader cryptocurrency market consolidates slightly higher as the majors reported modest gains. VeChain’s token value surged on Tuesday, reaching its highest level in almost three months after CoinMarketCap confirmed that the supply-chain management company will headline its upcoming industry conference in Singapore. Although the news is two days old, market participants are finally catching wind…

Coinbase Legal Chief Wants Private Sector to Create US Digital Dollar

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Coinbase’s legal chief, Brian Brooks, feels that the United States government should take a step back and allow the private sector to create the U.S. digital dollar. Private sector should build the technology In a Fortune piece on Nov. 4, Brooks asked whether the U.S. government should create the digital dollar, or whether the private sector can do so more effectively. The answer to that question, according to Brooks, is also the best path forward, saying: “The best path forward is one that harnesses our country’s remarkable capacity for innovation…

Crypto Trader: Bitcoin Closes In On Life-Changing Golden Cross

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The cryptocurrency market is currently undecided on if Bitcoin is about to embark on its next bull run, or if it’ll fall back further into a bearish trend in the short-term. The neutral market could finally have its decision, if a “life-changing” golden cross occurs in Bitcoin price charts, according to one crypto trader and analyst. Golden Cross Forming on Weekly Bitcoin Charts During the second quarter of 2019, the market was convinced that Bitcoin had begun its next bull run, and would soon reach price projections of $100,000 per…

Binance Chain and BNB Will Be Traceable via CipherTrace

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American blockchain security firm CipherTrace will provide Anti-Money Laundering (AML) controls for Binance Chain and its native asset Binance Coin (BNB). CipherTrace to increase AML checks on Binance Chain Binance Chain, a public blockchain of major crypto exchange Binance and the underlying blockchain for Binance DEX, is expected to improve its AML procedures through CipherTrace, Binance announced on Nov. 5. Specifically, CipherTrace will be providing Binance Chain with institutional-grade AML controls to increase adoption of the Binance Chain blockchain. Within the initiative, CipherTrace will enable global developers, investors and regulators…

Will Stellar’s 55 Billion XLM Burn Trigger a New Bull Cycle?

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On Nov.4 Stellar Lumens announced the completion of a 50% token burn of their total supply. This led to the destruction of 55 billion (XLM) tokens and the Stellar Development Foundation explained that the token burn was designed to provoke efficiency within the Stellar ecosystem. Crypto market data daily view. Source: Coin360 The price of XLM surged 25% after the announcement this triggered the market to become bullish on the altcoin. Given that a growing number of altcoins are beginning to produce noticeable returns, an analysis of the technical aspects…

European Union Drafts Law Suggesting Consideration of Eurocoin

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A draft document issued by the European Union suggests that the union should consider issuing its own digital currency. Will the EU wage war on crypto? Reuters reported on Nov. 5 that the draft in question — which is still subject to amendments — urges member states to develop a common approach to cryptocurrencies, possibly banning high-risk projects. If the draft in its current form is approved, which could happen as early as next month, it could have far-reaching consequences. More precisely, Reuters suggests that such a law could escalate…

How We Got Ivy League Students to use Blockchain Tech

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For most blockchain-enabled products and services, achieving mainstream adoption has been a nearly impossible goal. Even the most celebrated projects in the crypto ecosystem struggle to expand their community beyond blockchain-savvy users. Augur, the famous betting protocol whose REP token peaked with a market cap of more than $1 billion and was utilized by other respected projects such as Sequoia-backed Veil, is used by less than 200 users on a daily basis. Veil ultimately shut down after 6 months of activity because “it tried to do too much, didn’t offer…