Grayscale Investments has committed to financially supporting development of the ethereum classic (ETC) cryptocurrency for another two years. Announced Wednesday, the asset manager will continue to donate one-third of the management fees from its Grayscale Ethereum Classic Trust to the ETC Cooperative each quarter through 2021. “It is a big vote of confidence which we deeply appreciate. This funding allows us to continue our support of the ETC protocol and ecosystem,” ETC Cooperative executive director Bob Summerwill said by private message. “We will provide grants for key projects, as we…
Day: January 22, 2020
Ether Was the Cryptocurrency Most Correlated to Other Coins in 2019
Recent research shows that Ether (ETH) was the cryptocurrency most correlated to the rest of the crypto market in 2019. In a report published on Jan. 22, the research arm of major cryptocurrency exchange Binance suggests that throughout 2019, ETH had an average correlation coefficient of 0.69. The paper, which compared correlation data of 20 top cryptocurrencies, reads: “Ether (ETH) is the highest correlated asset. With an average correlation coefficient of 0.69 throughout 2019, it is consistently among the most correlated assets. The coefficient started at 0.69 in Q1 and…
Busted: SEC Charges Blockchain Marketplace Founder Sergii “Sergey” Grybniak for Fraudulent ICO 2017
The US Securities and Exchange Commission (SEC) has charged former Stevie Award winner and SEO champion Sergii “Sergey” Grybniak and his company Opporty International, Inc. – a blockchain marketplace company with conducting a fraudulent initial coin offering (ICO) of unregistered digital asset securities. As alleged in the SEC’s complaint, it raised approximately $600,000 from nearly 200 investors in an Initial Coin Offering (ICO) of what the SEC claim were Opporty’s unregistered digital asset securities called “OPP Tokens.” comp24723 Grybniak pitched Opporty’s platform as a place where SME’s could list their…
Crypto News Roundup for Jan. 22, 2020
Join CoinDesk Podcast Editor Adam B. Levine and Senior Markets Reporter Brad Keoun for a daily, time saving rundown of top news impacting crypto markets today. Source
Bitcoin’s Lighting ‘Torch’ Reignites, Blazes Through 38 Countries in 3 Days
Bitcoin’s lightning torch is back, and it’s zipped through at least 38 countries already. The torch is a digital game first ignited in January 2019 by pseudonymous bitcoin enthusiast Hodlonaut, known for his Twitter avatar of a cat in a spacesuit. Each “torchbearer” sends a tiny amount of bitcoin to the next. A key rule is to add a little bit more money to the payment each time it moves to someone new. The goal is to highlight the speed and global nature of the lightning network, a payment technology…
Bitcoin’s Lighting ‘Torch’ Reignites, Blazes Through 38 Countries in 3 Days
Bitcoin’s lightning torch is back, and it’s zipped through at least 38 countries already. The torch is a digital game first ignited in January 2019 by pseudonymous bitcoin enthusiast Hodlonaut, known for his Twitter avatar of a cat in a spacesuit. Each “torchbearer” sends a tiny amount of bitcoin to the next. A key rule is to add a little bit more money to the payment each time it moves to someone new. The goal is to highlight the speed and global nature of the lightning network, a payment technology…
DC Blockchain Advocacy Group US Chamber of Digital Commerce Supports Telegram Vs. SEC Case
The Blockchain Advocacy Group The US Chamber of Digital Commerce (CDC) is filing an amicus brief advocating for a predictable legal environment for the blockchain industry in an attempt to counter the SEC’s motion for a summary judgment against Telegram Group Inc. and its wholly-owned subsidiary TON Issuer Inc. The Blockchain lobbyists at the CDC filed the documents with the New York Southern District Court on January 21, 2020, in an attempt to try to make the Court consider its amicus curiae brief. The latter is a statement by someone…
Jack Dorsey’s Square Wins Patent for Fiat-to-Crypto Payments Network
Payments provider Square has won a U.S. patent for a new network that enables seamless crypto-to-fiat transactions. Granted Tuesday by the U.S. Patent and Trademark Office, the patent details a payments system allowing users holding different asset types to transact with one another in real-time. “The present technology permits a first party to pay in any currency, while permitting the second party to be paid in any currency,” reads Square’s application. The network itself can automatically exchange the sender’s payment into the asset specified by the receiver. This new system…
Bitcoin SV (BSV) Forms Bullish Pattern That Has 60-64% Success Rate
A textbook candlestick pattern is showing a very rosy future for Bitcoin SV (BSV). The fifth-largest cryptocurrency by market cap lately formed a Golden Cross – a bullish signal wherein an asset’s short-term moving average closes above its long-term moving average. It achieved the mettle after surging by a parabolic 500 percent – from $77.2 to $458.74 – in just less than a month. Bitcoin SV undergoes a parabolic rise | Source: TradingView.com, BitFinex The Tulip Pump The wild upside move borrowed sentiments from the claims of Bitcoin SV founder,…
Retail Accumulation? Number of Bitcoin Addresses With One or More Coins Sees Solid Rise
A key on-chain metric has witnessed growth over the past 12 months, possibly indicating steady accumulation of bitcoins by retail traders. As of Jan. 14, there were 784,000 addresses holding one or more bitcoins, up nearly 11 percent from 707,000 seen a year ago, according to blockchain intelligence firm Glassnode. The number has more than doubled since early 2015. Number of Addresses with One or More Bitcoins Compared to BTC Prices Source: Glassnodes “The steady rise is the result of accumulation by retail buyers,” according to Connor Abendschein, crypto research…