Some blockchain and cryptocurrency firms have pledged to help victims of the coronavirus in Wuhan, China. Cryptocurrency exchange Binance pledged to donate 10 million Chinese yuan ($1.44 million) to the effort. In a tweet on Jan. 25, Binance CEO Changpeng Zhao said that Binance made the pledge but did not make any announcements after a Twitter user tagged him in a news article about cryptocurrency donations being accepted for the cause: “For #Wuhan, not realistic to do crypto to end beneficiaries. Binance pledged 10m RMB ($1.5m USD) to help #coronavirus…
Month: January 2020
Cryptocurrency News From Japan: Jan. 20–24 in Review
This week’s headlines from Japan include several central banks collaborating on digital currency research, Binance removing the Japanese yen from its platform, Japan’s Liberal Democratic Party investigating digital assets, comments from Japan’s Deputy Prime Minister on digital currency research importance, and Coincheck paying out its first Lisk staking reward. Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. Japanese political party proposes digital currencies Japan’s ruling Liberal Democratic Party aims to propose a national digital asset in spring of this year, according to some…
BCH Community Leaders Bitcoin.com and Jonald Fyookball Clarify Positions on Funding Proposal
Since Btc.top founder Jiang Zhuoer revealed an infrastructure funding proposal from five major mining pools last week, which would fund BCH devs via redirection of 12.5% of BCH coinbase rewards, the Bitcoin Cash community has been understandably bustling with debate, discussion, and suggestions. Reactions have ranged from calling the move a “tax” that is incongruous with the foundational values of bitcoin, to support and ideas on how to best implement the plan. While the inundation of opinion and emotion has been noisy, a few prominent community leaders and groups with…
Sorry Bears, Bitcoin Is Still In Mid-Term Uptrend: Here’s Why
Bitcoin started a downside correction from the 2020 high at $9,191 against the US Dollar. However, BTC price is still in an uptrend and it could find buyers near $8,000 or $7,670. Bitcoin price started a short term downside correction below $9,000 and $8,800. It is currently trading above $8,200 and there are many important supports on downside. There is a declining channel or a bullish flag forming with resistance near $8,500 on the daily chart of the BTC/USD pair (data feed from Kraken). The pair is likely to find…
Ethereum Hesitates But Further Losses Seem Likely: Key Levels To Watch
Ethereum is down more than 10% from the 2020 high against the US Dollar, similar to bitcoin. ETH price is likely to test the $148 support area before a fresh increase. ETH price is currently correcting lower from the $179 swing high against the US Dollar. The price is showing a few bearish signs and it might decline below the $158 support. There is a major contracting triangle forming with support near $158 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair could either rally again above…
The Holy Grail for DApps Moving Beyond Buzzword Status
Decentralized apps (DApp) continue to be a major focus point for developers in the crypto space. However, 2019 ended with DApps still far off from reaching their much-touted potential of being the “future of the internet.” DApp projects in 2019 continued to suffer from their usual issues like poor user retention and the difficulties of navigating user interfaces (UI), among others. While some projects boast market capitalizations north of $100 million, they fail to attract more than a handful of daily users. In the early weeks of 2020, some analytics…
Altcoins on Track to Plunge By 10%, Yet This Crypto Could Rally Higher
Over the past month, altcoins have finally started to break higher, reversing the Bitcoin-centric trend seen in the crypto market throughout all of 2019. In fact, the BTC dominance metric has dropped to 66% over the past week, with digital assets like Ethereum, XRP, and Litecoin starting to outpace the market leader. Related Reading: XRP Analyst Suggests IPO Could Be Game-Changing for Ripple: Here’s How According to a prominent cryptocurrency trader, the time for altcoins to outperform Bitcoin is likely up, looking to a number of bearish chart formations. Altcoin…
Data Shows $25 Billion Worth of Bitcoin and Ether Held by Seven Crypto Exchanges
On January 3, 2020, a small group of crypto enthusiasts celebrated the second annual Proof-of-Keys day with hopes to get people to withdraw funds from centralized digital currency exchanges. However, exchanges holding massive amounts of BTC only saw their reserves grow larger and data shows that Coinbase now holds 1 million BTC ($8.4 billion). Crypto users are still keeping large sums of digital asset holdings on trading platforms despite the fact that 2019 saw the most exchange hacks in one year over the last decade. Also read: The Fallout From…
A Stronger Foundation for Bitcoin ETF Applications
One of the recurring themes in the digital asset markets across 2018 and 2019 has been the failure of multiple Bitcoin (BTC) exchange-traded fund (ETF) applications to gain the approval of the United States Securities and Exchange Commission. Each new application was met with anticipation, only to be dismissed for the same reason: concern over how the ETF would derive its price, whether this price could be manipulated, and if the listing exchange could adequately meet section 6(b)(5) of the Exchange Act. This section states, in part, that: “The rules…
Crypto Analyst Says IPO Could Be Game-Changing for Ripple: Here’s How
This week, Brad Garlinghouse — chief executive of Ripple Labs in San Francisco — made a massive announcement at a Wall Street Journal event in Davos, Switzerland at the World Economic Forum. The industry executive told a crowd at the event that he intends to bring Ripple public in the coming years, adding that he expects for there to be a number of crypto- and blockchain-related IPOs in the coming 12 months. “In the next 12 months, you’ll see IPOs in the crypto/blockchain space. We’re not going to be the…