Month: March 2020

P2P Exchange Paxful Teams Up With Chainalysis for Increased Overwatch

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Peer-to-peer exchange Paxful will add security to its operation through a partnership with blockchain analysis outfit Chainalysis. Through a new partnership, Paxful will harness specific technologies from Chainalysis. “Paxful uses the Chainalysis Reactor to conduct deep investigations and the Chainalysis KYT to monitor transactions for any illicit behavior,” Youssef said, referring to the firm’s Know Your Transaction solution — a similar acronym to Know Your Customer, or KYC, regulations. Youssef added: “Through working with Paxful, Chainalysis is evolving its policy and will evaluate P2P exchanges on a case-by-case basis before…

Legendary Silicon Valley Investor Tim Draper Bullish on Indian Blockchain and Cryptocurrency Startups

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Founding partner of Draper Fisher Jurvetson (DFJ), Draper Associates, the Draper Venture Network and Draper University, Tim Draper appears to be poised to back projects in India. “The Supreme Court of India and the Indian government have shown that the best ideas ultimately prevail, and just in time, because the benefits of Bitcoin and crypto over current systems will become apparent during this crisis, stated Draper.  “…I met several Bitcoin and crypto startups while I was in India last week. I hope to be able to fund a number of…

Hive Trades for 20% Premium Over Steem on Bittrex Crypto Exchange

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After successfully forking from the Steem blockchain, Hive (HIVE) secured a listing on Bittrex — where it is trading for a 20% premium over Steem (STEEM). In a blow to Justin Sun, the cryptocurrency market appears to have chosen which chain it believes to be more valuable after Hive forked off from Steem on March 20. HIVE trades for 20% premium over Steem On Bittrex, HIVE is currently trading for $0.193, while STEEM is changing hands for roughly $0.154 on the same platform. HIVE’s 24-volume on Bittrex of $28,500 equates…

BitMEX Slips Behind Binance and OKEx for Bitcoin Futures Trading Volumes

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Bitcoin (BTC) derivatives exchange BitMEX has fallen to third place in 24-hour trading volume for Bitcoin futures.  Data from Skew analytics on March 23 reveals that the derivatives giant, founded by Arthur Hayes, is reporting $2.45 billion in 24-hour futures volume, as against Binance’s $2.48 billion and OKex’s $3.08 over the same time frame. 24-hour trading volumes for Bitcoin futures contracts on major exchanges. Source: skew.com Mid-term trends Earlier this month, aggregated open interest in BitMEX’s futures contract took a steep plunge from $1.2 billion on March 12 to $745…

2x Bitcoin: Wanna Double Your BTC to the Moon? Forget About It

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Amid worldwide crisis and stock market turmoil, a growing number of investment schemes advertise a way to speedily double your bitcoins. Moon Bitcoin Live, for example, claims to be a licensed bitcoin doubler, promising that investors can double their bitcoins within 24 hours, with guaranteed payouts. However, there are many red flags about this type of investment scheme. Also read: 50 Companies Back New Cryptocurrency Project Competing With Facebook’s Libra Moon Bitcoin Live Plunging stock markets and the coronavirus scare have crippled many industries and driven many people to seek…

COVID-19 Panic Tests Bitcoin Uncorrelated Asset Narrative

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Bitcoin (BTC) trading is currently seeing its highest correlation with the S&P 500 stock market index as panic over the coronavirus (COVID-19) pandemic is reportedly forcing investors to embark on massive portfolio de-risking. Bitcoin Trading Correlation with S&P 500 Reaches All-Time High Data from crypto analytics platform Coin Metrics shows that the correlation between the two top-ranked cryptos — Bitcoin and Ethereum, and the S&P 500 reached an all-time high (ATH) levels over the last 30 days. Like the Nasdaq and the Dow, the S&P 500 helps investors monitor the…

Seven-Year-Old Veteran Crown Platform Activates NFT Framework to Tokenise assets on the Crown Blockchain

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Sharing is caring! A community-driven cryptocurrency (CRW) and application Crown Platform (EST 2013) – has released its latest technological in-house innovation called the Crown Core v0.14 ‘Emerald’ NFT Framework. The new protocol enables the tokenisation of assets on the Crown blockchain by the issuance of protocols and tokens. With this release, authored by technology lead Artem Brazhnikov, Crown Platform extends its functionality to serve as an asset-chain. Brazhnikov stated: ~ advertisement ~ “The NFT Framework is a way to tokenise assets without writing any asset-specific code.” The NFT Framework represents…

Monex Grants Small Amount of Bitcoin as Year-End Shareholder Benefit

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Japanese financial services firm Monex — the company behind crypto exchange Coincheck — announced that it will give Bitcoin (BTC) to its shareholders as a year-end benefit for 2019. According to an announcement on March 23, Monex plans to give to its shareholders 500 yen worth ($4.53) to those who hold the firm’s shares as of March 31 as a year-end benefit for 2019 in addition to existing shareholder benefit. The company will give the Bitcoin to those shareholders who hold an account on cryptocurrency wallet Coincheck. The announcement suggests…

‘This Will and Needs to Be Bitcoin’s Year’ Says Mike Novogratz

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With vast swaths of the world markets in virtual lockdown amid the coronavirus pandemic, some predict that the shocks rippling through the global economy in early 2020 may yet come to dwarf the magnitude of the 2008 financial crash. Just as Bitcoin (BTC)’s creation is bound up with 2008 and the Great Recession, Galaxy Digital founder Mike Novogratz sees this year as make-or-break for the cryptocurrency. In a tweet posted on March 22 — just hours after the United States Congress failed to reach a bipartisan agreement on a proposed…

Bitcoin, Ether, and XRP Weekly Market Update March 23, 2020

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The total crypto market cap added $23.6 billion for the last seven days and now stands at $166.9 billion. The top 10 currencies were all in green for the same time frame with and Bitcoin SV (BSV) and Bitcoin Cash (BCH) being the best performing assets with 31.5 and 16 percent of gains respectively. By the time of writing Bitcoin (BTC) is trading at $5,917 while Ether (ETH) climbed to $125. Ripple’s XRP is hovering around $0.151. BTC/USD Bitcoin formed a fresh green candle to $5,337 on Sunday, March 15…