Day: March 15, 2020

Data Transparency and Fake Trading Volumes — Institutionalizing Crypto

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On Feb. 26, the Securities and Exchange Commission announced the rejection of yet another ETF submission from Wilshire Phoenix, a New York-based investment firm, citing a lack of resistance to market manipulation and fraudulent activity. The filing stated that the NYSE Arca had not demonstrated that the market was “designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest.” While Wilshire Phoenix aimed to base its ETF both on Bitcoin (BTC) and the United States Treasury bonds to hedge against Bitcoin’s volatility in…

ETH-Based Developer Crowdfunding Platform Joins Fight Against Coronavirus

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The proliferation of cryptocurrency companies seeking to donate or raise funds for coronavirus relief efforts continues. Ethereum-based crowdfunding platform, Gitcoin, is advancing this trend by pledging at least $50,000 in development grants toward coronavirus-related initiatives. On March 14, Gitcoin tweeted that its fifth round of grants already has $50,000 committed toward “public health” initiatives. However, it is seeking to reach a minimum of $100,000, with the goal of distributing sufficient funds to multiple efforts. Gitcoin seeks $100,000 raise for public health projects The project has invited the public to refer…

Bitcoin Cash Meetups Go Virtual in Japan to Combat Virus, Allowing Members to Choose

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Due to the spread of the COVID-19 virus, BCH meetup groups in Tokyo and Osaka, Japan, have announced they will be offering a virtual option for those wishing to avoid crowded places and to participate digitally, while still supporting merchants. In Tokyo, physical venues will still be booked for those opting to meet face-to-face, allowing bitcoiners to choose their own experience. News.Bitcoin.com asked organizers some questions about the announcement, how it will work, and difficulties in coming to consensus on how to best navigate this challenge. Also read: These Online…

Circle’s USD Coin Sees Major Growth After Market Downturn

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As Bitcoin (BTC) and the cryptocurrency market at large experience a major downturn, people turn to stablecoins in an attempt to preserve their capital. Some stablecoins have grown more than others, however. Stablecoin marketcaps are generally expected to increase after a major cryptocurrency market downturn. However, this is not what happened for most stablecoins during the past week. According to data from Coin360, Bitcoin has fallen from a height of nearly $8,000, down to under $4,000 between March 12 to March 13. Bitcoin 7-day price chart. Source: Coin360 USDC market…

Top 5 Cryptos This Week (Mar 15): LEO, XLM, ETC, XRP, HT

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Most top performers of the past week have bounced sharply from their lows, which is a positive sign as it indicates buying at lower levels. This week saw huge selling in almost every asset class as panic gripped traders on the ever-spreading coronavirus cases. Cryptocurrencies were also not spared as they came under huge selling pressure on March 12 and 13, which wiped off about $92.5 billion in total market capitalization. Now, the bulls are attempting to stage a recovery. The fall of the past few days has shaken the…

Cardano to Roll Out Commercial Infrastructure, Denies Coronavirus Delay

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Proof-of-stake (PoS) blockchain Cardano (ADA) is working on implementing commercial infrastructure. The coin’s officials have reassured the public that development is on schedule. During a March 13 YouTube livestream, Charles Hoskinson — the CEO of IOHK, the firm behind Cardano — said that official updates about the coin’s critical commercial infrastructure should be expected in the coming months, but reassured that things are proceeding as expected. Hoskinson explained that the people involved in the coin’s development are starting to set aside funding for dedicated commercial infrastructure, which he explained as…

Bitcoin Price Has 8 Hours to Close Above Crucial $5,500 Level: Why It’s Important

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Bitcoin has had a tough week, to say the least; after peaking at $9,200 on Saturday, the cryptocurrency started a precipitous decline, falling through support level after support level as if they were irrelevant. Indeed, at the crash’s worst on Friday morning, the cryptocurrency had reached a price as low as $3,800 (or $3,200 on some trading pairs/swaps), easily breaking through every single relevant level for Bitcoin up to that point. Despite this, bulls have a chance to recover a key moving average that has acted as support for the…

Bitcoin Price Has 8 Hours to Close Above Crucial $5,500 Level: Why It’s Important

boss

Bitcoin has had a tough week, to say the least; after peaking at $9,200 on Saturday, the cryptocurrency started a precipitous decline, falling through support level after support level as if they were irrelevant. Indeed, at the crash’s worst on Friday morning, the cryptocurrency had reached a price as low as $3,800 (or $3,200 on some trading pairs/swaps), easily breaking through every single relevant level for Bitcoin up to that point. Despite this, bulls have a chance to recover a key moving average that has acted as support for the…

The Cracks Are Showing in Iran

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Running up against limited experience and resources for monitoring potentially illegal use of digital assets, United States authorities delegate sanctions monitoring to cryptocurrency exchanges and industry players. But do current practices do more harm than good? Who will watch the watchlist? Within the U.S. Treasury, the Office of Foreign Asset Control (OFAC) is responsible for sanctioning individuals and entities the country considers threats to national security. Earlier this month, OFAC added two Chinese nationals accused of laundering money for North Korea’s infamous Lazarus Group. Notably, OFAC’s designation included crypto addresses…

Using Digital Currency for Climate Markets

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Climate change has created a rapidly growing global market for a digital eco-commodity called carbon credits. Current estimates value these carbon markets at over $100 billion annually. A carbon credit represents one metric ton of CO2 and is connected to efforts to reduce carbon emissions that cause climate change.  Carbon markets are one of the best tools that companies and policy-makers have for reducing carbon emissions, putting a value on a ton of CO2 so that markets can get to work creating price signals for reducing emissions. Various initiatives over…