Day: February 4, 2020

Pullback ahead? Bitcoin Price Indicators Suggest Waning Bull Momentum

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Bitcoin’s price action of the last 24 hours is telling a tale of buyer exhaustion and hinting at a more major price pullback ahead.  The top cryptocurrency by market value jumped to three-month highs above $9,600 during Monday’s Asian trading hours, extending January’s 30 percent gain. However, the breakout above the lateral resistance of $9,586 (Nov. 4 high) was short-lived and the cryptocurrency ended the day (UTC) on a flat note at $9,288.  Put simply, the day began with optimism but ended on a pessimistic note, with buyers failing to…

Analyst Who Called Bitcoin’s Surge to $9,000 Is Bullish: Here’s Why

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If you were perusing Crypto Twitter in December of last year, you likely remember the fear that was circulating amongst Bitcoin investors; from June 2019 to December 2019, the price of the leading cryptocurrency fell by over 50% from $14,000 to $6,400, a move that few called. Then, investors across the board were certain that the cryptocurrency was poised to fall further and further, citing the steep downtrend that had formed. But as 2019 became 2020, the crypto market suddenly reversed, with Bitcoin recently rallying as high as $9,620 from…

Southern Indian State to Launch Dedicated Blockchain Incubator

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The Indian state of Telangana is to launch a dedicated blockchain incubator. According to a report in the Times of India on Monday, Rama Devi, a senior official in the IT&C Department of the state government, said the new incubator would soon team with top educational institutions, such as IIIT-Hyderabad and the Indian School of Business in order to support new startups in the working blockchain space. “We have developed 12 use-cases wherein Blockchain technology can be used to solve some of the issues faced by citizens… in the coming…

Zcash Is Now on Binance Futures With New Perpetual Contract

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Binance’s futures platform is launching a Zcash (ZEC)–Tether (USDT) perpetual contract with maximum leverage of up to 50x. An announcement from the exchange on Feb. 4 revealed that trading for the new ZEC/USDT contract will go live at 8.00 a.m. on Feb. 5. In a bid to prevent market manipulation, Binance says it has chosen to set a pricing limit of ±1% on the mark price within the first 15 minutes after trading begins. Perpetual vs. traditional futures As reported, when the Binance Futures platform launched — offering maximum leverage…

‘Dogs—? Who Cares’ — XRP Price Flags as BitMEX Debuts Perpetual Swaps

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Controversial altcoin XRP has finally launched on crypto derivatives giant BitMEX — but so far, its price has failed to react. In a tweet on Feb. 3, BitMEX confirmed it had decided to support XRP, the third-largest cryptocurrency by market cap, for perpetual swaps against the United States dollar. XRP squeezes out 7% gains Despite regular efforts from supporters to make major exchanges such as BitMEX pay attention to XRP, data from Coin360 and Cointelegraph Markets suggests the actual interest in the token is minimal. XRP/USD briefly grew by 11%…

‘Dogs—? Who Cares’ — XRP Price Flags as BitMEX Debuts Perpetual Swaps

boss

Controversial altcoin XRP has finally launched on crypto derivatives giant BitMEX — but so far, its price has failed to react. In a tweet on Feb. 3, BitMEX confirmed it had decided to support XRP, the third-largest cryptocurrency by market cap, for perpetual swaps against the United States dollar. XRP squeezes out 7% gains Despite regular efforts from supporters to make major exchanges such as BitMEX pay attention to XRP, data from Coin360 and Cointelegraph Markets suggests the actual interest in the token is minimal. XRP/USD briefly grew by 11%…

Smart Contracts Limit Data Availability, But Improve Its Quality

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The latest analysis by research firm Gartner has painted a mixed picture of the benefits that blockchain-based smart contracts can offer enterprises. While the study, published Jan. 30, concluded that smart contracts would be overall net positive for business, Gartner warned that the terms and conditions set for smart contracts could limit the availability of data for enterprises: “This variable could leave participants in a worse position than if they did not participate in the blockchain smart contract process. As such, an organization’s overall data asset availability would decrease by…

Bitspark Fades Out Following COO Maxine Ryan’s Departure

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Hong Kong-based remittance startup Bitspark is shutting down next month. CEO and co-founder George Harrap announced Monday that the company, with operations in Hong Kong, the Philippines, Indonesia and Vietnam, would be permanently shuttering its doors on March 4. Customers will have until that day to freely withdraw their funds; customers can request withdrawals for a further 90 days after. “Unfortunately due to internal restructuring that hasn’t worked out, and a decision taken by shareholders internally, we have made the decision to close our doors,” Harrap wrote. “While I hoped…

Bitspark Fades Out Following COO Maxine Ryan’s Departure

boss

Hong Kong-based remittance startup Bitspark is shutting down next month. CEO and co-founder George Harrap announced Monday that the company, with operations in Hong Kong, the Philippines, Indonesia and Vietnam, would be permanently shuttering its doors on March 4. Customers will have until that day to freely withdraw their funds; customers can request withdrawals for a further 90 days after. “Unfortunately due to internal restructuring that hasn’t worked out, and a decision taken by shareholders internally, we have made the decision to close our doors,” Harrap wrote. “While I hoped…

How XRP Price Could Plunge to Fresh Lows With BitMEX’s Swap Launch

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On January 23rd, leading Bitcoin derivatives exchange BitMEX revealed its intent to launch a new financial product for XRP. In a blog post, the company said that this product would be a “Ripple USD quanto swap,” which will allow traders to leverage trade the cryptocurrency with leverage of up to 50x. According to a recent Twitter update from the cryptocurrency exchange, the XRP swap contract is on track to launch at 04:00 UTC on February 5th, 2020 — just a day away. We at BitMEX are proud to announce that trading…