Day: December 24, 2019

Bitcoin Pulls Back Down Into Futures Gap, But Is It Too Early for $8K?

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Bitcoin (BTC) finally recovered from its sharp drop last week and is currently hovering around $7,300, a move of more than ten percent since the latest low of $6,430.  Crypto market daily performance. Source: Coin360 However, the price of Bitcoin did touch $7,700 and made a sharp drop yesterday to close a CME futures gap at around $7,230.  So is it time to be bearish, bullish, or neutral? A new check of the graphs is warranted after the latest dropdown.  Bitcoin potentially forming a bottom  BTC USD 2-day chart. Source:…

Hedera Hashgraph Asks Investors to Wait Longer for Tokens After Price Crash

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Hedera Hashgraph, the company behind the blockchain-like Hedera network, is asking investors to wait longer for tokens they paid for, in order to stabilize their cratering price. In return for a delayed distribution of their HBAR tokens, investors would ultimately get more of them than originally stipulated in a simple agreement for future tokens (SAFT). Over time, this additional allocation would help them recoup their initial investments. “[P]articipating SAFT holders would receive additional allocations of coins, made on an annual basis, the cumulative sum of which, over time, would equal…

BNB/ETH Trading Pair Added to Binance DEX

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Cryptocurrency exchange Binance has added the Binance Coin/Ether (BNB/ETH) trading pair to its decentralized exchange (DEX), according to a company announcement on Dec. 24. Last week’s proposal is this week’s launch The listing follows an initial proposal posted on the Binance community website a week ago by Binance CEO Changpeng Zhao, popularly known as CZ. ETH BEP2 tokens will be issued on Binance Chain, pegged to and backed 1:1 by ETH assets held in a publicly disclosed reserve address. Binance will support conversion between native ETH and the Binance Chain…

Rakuten Customers Can Use Their Loyalty Program Points to Buy Crypto

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Japanese retail giant Rakuten now lets its customers convert its Rakuten Group loyalty points to major cryptocurrencies like Bitcoin (BTC). According to an official announcement on Dec. 24, this capability is immediately available for Rakuten users in Japan who have an account with Rakuten Wallet, a crypto exchange subsidiary of Rakuten. The company says its clients can convert their loyalty points to three different cryptocurrencies, including Bitcoin, Ether (ETH), and Bitcoin Cash (BCH). The minimum crypto purchase is $0.90 With one Rakuten Super Point worth one Japanese yen (approximately $0.009),…

Chinese Internet Giant Tencent to Launch Digital Currency Research Team

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Tencent, the Chinese internet giant and owner of WeChat, is reportedly forming a team to explore possible new use cases for cryptocurrencies. According to reports by Chinese media, Tencent issued an internal notice informing employees it was searching for someone to head a new cryptocurrency research unit, which will form part of the company’s payments wing. The new team will look at how to use digital currencies in its payments platform as well as explore other possible business applications. It will also consider how cryptocurrencies could be used within existing…

Looking Backward to Build the Future: How Academia Is Shifting Its Blockchain Focus

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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. Reuben Youngblom is a programmer with a background in intellectual property law. He co-runs the RegTrax initiative at Stanford University and works with blockchain and other tech startups, providing engineering and legal expertise. The predictions for 2019 were numerous: it was to be the year of the DAO, the year of the STO, the year of the decentralized exchange, the year of enterprise blockchain,…

Securities Regulator Says Crypto Investments Are Top Investor Threat in 2020

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Cryptocurrency investment is among the top five investor threats for 2020, according to the North American Securities Administrators Association (NASAA). The NASAA, the oldest international investor protection organization, has officially announced the top five products or schemes likely to defraud investors in the coming year. In order to provide the report, the authority surveyed state and provincial securities regulators across the United States, Canada and Mexico. NASAA warns against crypto and Ponzi schemes Released on Dec. 23, the report includes the top five schemes that are likely to trap investors…

Crypto YouTubers Allege Platform Is Censoring Their Content

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Crypto YouTubers are greeting the holidays with reports that their content appears to have been censored by the platform. In a tweet published on Dec. 23, Chris Dunn — a crypto YouTuber with 210,000 subscribers and almost 7.5 million channel views —  claimed that: “@YouTube just removed most of my crypto videos citing “harmful or dangerous content” and ‘sale of regulated goods’… it’s been 10 years of making videos, 200k+ subs, and 7M+ views. WTF are you guys doing @TeamYouTube?!” In a separate tweet on Dec. 23, crypto education channel…

Hedera to Compensate Investors That Lock Tokens With More Crypto

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Blockchain firm Hedera announced that holders of its HBAR token that decide to lock their crypto assets will be compensated with more cryptocurrency. In a blog post on Dec. 23, the company announced that, beginning in early 2020, HBAR holders that participated in the token sale will be able to take part in a program that would compensate them with annual allocations of additional coins. In exchange, investors would have to postpone the release date of the tokens acquired in their original investment. Payments driven by adoption The offer is…

10 Best Performing Cryptos of 2019 Not Named Bitcoin

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Since the start of 2019, the crypto market has been on the receiving end of an insane amount of financial volatility.  For example, in January, the total market capitalization of this burgeoning sector was around $130 billion. However, by July, the market at large had witnessed an influx of bullish momentum that pushed the total capitalization value of this space to a whopping $373 billion. Following this period, the aforementioned bull run proceeded to subside quite a bit, with the market now hovering a tad under the $200 billion threshold. …