December 23, 2019

Why XRP Isn’t Surging in Tandem With Rest of the Cryptocurrency Market

December 23, 2019 boss

XRP was not among the gainers as the cryptocurrency market attracted capital of up to $12 billion in a day. The Ripple blockchain’s native asset slumped by up to 2.19 percent on Monday to establish an intraday low of $0.194. The downside move negated XRP’s gains – registered during the Sunday trading session – by 1.38 percent. At the same time, it pushed the cryptocurrency’s 24-hour adjusted performance down by 0.77 percent. Ripple’s XRP token correcting lower after spending Sunday in a positive area | Source: TradingView.com, BitStamp In contrast,…

Bitcoin Price Weekly Candle Closed as a Pin Bar — So What Comes Next?

December 23, 2019 boss

Bitcoin (BTC) closed the week up at $7,513 which was a 5.65% increase from the opening price of $7,111. It was a turbulent week with Bitcoin finding new lows for the quarter of $6,430, which invoked an impressive 16% bounce to close the week. Bitcoin has continued to outperform the other cryptocurrencies, demonstrated by the 7-day performance for Bitcoin recording a 9.19% increase, whereas Ethereum’s Ether token (ETH) has barely moved, while XRP has lost around 5% of its value. As such, there appears to be a disconnect developing between…

Bitcoin Hits 3-Week High Despite Strong Bearish Signs: Where is it Heading?

December 23, 2019 boss

Bitcoin on Monday was trading above $7,500 as sellers showed signs of exhaustion near a crucial support area. The cryptocurrency could swell further to test $8,000-8,500 area, according to textbook technical indicators. A gap on the CME’s daily Bitcoin Futures chart hints a revisit to $7,200. Bitcoin opened this week at records as buying interests among traders renewed for the short-term. The benchmark cryptocurrency on Monday established an intraday high of $7,642.66, up 0.33 percent since the market open. The small upside move followed a big one during the Sunday…

Corporations Need Bitcoin. They Just Don’t Know It Yet

December 23, 2019 boss

This post is part of CoinDesk’s 2019 Year in Review, a collection of 100 op-eds, interviews and takes on the state of blockchain and the world. Chris Dannen is co-founder at Iterative Capital, a New York-based cryptocurrency investment manager, and CEO of i2 Trading, a wholesale dealer and trading desk. Anyone who’s attended cryptocurrency conferences in 2019 has experienced the narrative confusion that hit after the ICO bubble. “Blockchain” companies push lame enterprise products which are, at best, nice to have; token issuers shill new issuances; exchange operators search for…

Corporations Need Bitcoin. They Just Don’t Know It Yet

December 23, 2019 boss

Bitcoin Futures Provider Bakkt Names Mike Blandina as New Head

December 23, 2019 boss

Bitcoin warehouse and Intercontinental Exchange subsidiary Bakkt officially has a new head. The company announced Monday that Mike Blandina would become the new president of the company, effective December 20. He succeeds outgoing CEO Kelly Loeffler, who was recently appointed to become the next Senator from the state of Georgia. Loeffler has run Bakkt since its formal announcement in August 2018, overseeing the company as it worked to launch its physically-delivered bitcoin futures products, the first such in the U.S. Under her tenure, Bakkt also announced it would be launching…

Bitcoin Subreddit Subscribers Surge Following Crypto’s Summer Bull Run

December 23, 2019 boss

The Bitcoin (BTC) subreddit has seen a remarkable increase in its number of subscribers since the cryptocurrency’s price spike last summer. Cypherpunk and proclaimed Bitcoin maximalist Jameson Lopp posted a tweet on Dec. 23, saying “the rate of new subscribers to the /r/bitcoin subreddit accelerated after the exchange rate jumped this summer. It grew in size by 222,000 users – 22% growth in 2019.” At the beginning of 2019, the subreddit broke a milestone of 1 million subscribers, which means that it has added more than 200,000 new members over…

EOSIO Proposal Would Prevent Users From Buying Blockchain’s Resources

December 23, 2019 boss

EOSIO, the firm behind the EOS blockchain and token, proposed a major change to the network’s resource allocation system that would require users to rent network resources. According to a blog post published by EOSIO on Dec. 21, the proposed changes aim to avoid network congestion caused by the inability to employ unused Central Processing Unit (CPU) time and bandwidth (NET) resources because users own them. According to EOSIO, the network suffers from a poorly designed resource allocation system that allows most of the network’s resources to go unused despite…

2020 Vision: 7 Trends Bringing Blockchain Into Focus in the Year Ahead

December 23, 2019 boss

This post is part of CoinDesk’s 2019 Year in Review, a collection of 100 op-eds, interviews and takes on the state of blockchain and the world. David L. Shrier is a futurist and globally recognized authority on financial innovation, with dual appointments at MIT and the University of Oxford’s Saïd Business School. His next book, Basic Blockchain, is being published in January 2020 by Little Brown (Hachette). 2020 brings us the start of a new decade, and with it comes the gradual maturation of blockchain technology, bringing it down from…

Smashing Through Surveillance Capitalism With Blockchain

December 23, 2019 boss

This post is part of CoinDesk’s 2019 Year in Review, a collection of 100 op-eds, interviews and takes on the state of blockchain and the world. Jack Henderson is Co-Founder and President of RadicalxChange Students. Glen Weyl is Founder and Chair of the RadicalxChange Foundation and Microsoft’s Office of the Chief Technology Officer Political Economist and Social Technologist. The web instilled in us the hope of replacing the old social hierarchy with a network of networks. Yet important gaps in the structure of the internet, its lack of provisioning for…