Day: July 15, 2020

Ziglu Insures Cryptocurrency Holdings up to £50,000 Against Cybercrime

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United Kingdom cryptocurrency banking platform Ziglu launched an insurance program on July 15 for digital assets held with the service. Under the new program, each customer’s cryptocurrency holdings are insured against cybercrime to a value of £50,000 ($63,000). Customer assets are held in segregated accounts, with the vast majority stored in offline cold wallets. These additional measures decrease the risk of theft through hacking or other means. Multi (fiat and crypto) currency accounts As Cointelegraph reported, Ziglu is the brainchild of Mark Hipperson, former Barclays technology head, and co-founder of…

Blockchain Bites: BitLicense Feedback, Digital Yuan Trial and How US Bills Could Threaten Privacy

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China will trial its digital yuan with a mega food retailer, U.S. bills are seriously threatening online privacy and an a16z alum is launching a venture firm focused on distributed tech. Here’s the story: Trial PlanChina wants to trial its digital yuan with online food seller Meituan-Dianping as well as another two Tencent-backed companies. The Beijing-based company has held talks with the research wing at the People’s Bank of China (PBoC) over trialling the digital yuan on its platform, according to sources speaking to Bloomberg. The exact details of the collaboration are not yet…

Macro Indicators Predict BTC Rally as Bitcoin Price Volatility Sees 3-Year Low

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Since early May, the price of Bitcoin has been at a standstill in a tight range between $8,500 and $10,000. For most of the past month, BTC has remained between $9,000 and $9,500 as realized volatility hit a three-year low. According to Skew, the volatility of Bitcoin has dropped to levels unseen since 2017. Researchers at Skew wrote: “#bitcoin realized volatility on a three years low, Tesla is eating Bitcoin’s lunch!” The realized volatility of Bitcoin hits a three-year-low. Source: Skew.com The multiyear low level of volatility amid strong rallies…

Bitcoin’s Next Move Could Create a Liquidation Cascade Like “Dominoes Falling”

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Bitcoin has been caught within an unrelenting trading range since the start of May. This range has primarily been established between $9,000 and $10,000, although the crypto has broken through both of these levels on a few brief occasions. Because bouts of volatility this low are typically followed by massive movements, it does appear that the benchmark cryptocurrency is poised to see some intense near-term volatility. One analyst is now explaining that he believes this next movement will be crucial for determining which direction BTC trends next, as it could…

Bitcoin News Roundup for July 15, 2020

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As the race for Central Bank Digital Currencies heats up, CoinDesk’s Markets Daily is back for your bitcoin news roundup! As rivals and allies move forward with their own CBDC plans, Japan will seriously consider a digital yen as part of this year’s policy agenda.  Now three Tencent-backed companies are setting themselves up to become early-stage testers for China’s digital yuan initiative. Vitalik Buterin’s quadratic funding notes raised 40 ETH for an open-source grant program. He and others are auctioning off NFTs on Cryptograph for charity. Revolut customers in the…

Charity Giant Behind Give.org Launches a Blockchain Donation Platform

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Better Business Bureau, or BBB — the charity giant behind Give.org — launched a privacy-focused donation platform built on the Ardor (ARDR) blockchain. According to a July 4 announcement, BBB’s charity monitoring organization Wise Giving Alliance launched blockchain-powered donation platform, GiveSafely.io. The platform uses distributed ledger technology to facilitate donations to BBB-accredited charities while ensuring donor data is only shared when permitted: “The platform also aims to restore trust in the online donation model, address concerns people have about misuse of their personal data and potential hacks. All personal information…

Crypto Price Analysis July 15: BTC, ETH, LTC, XRP, EOS

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The cryptocurrency market volatility never went up as a lot of assets are still “stuck” within their respective sideways channel. Dmitriy Gurkovskiy, a senior analyst at foreign exchange broker RoboForex, provides his vision of the possible tendencies in price changes for Bitcoin as well as for other major cryptos. Of course, any serious movement will start only after the assets break these sideways ranges. However, one can already see the formation of signals in favor of further downtrends on daily charts of such assets as Ethereum, Litecoin, XRP, EOS, and Bitcoin…

Mass Adoption is Stifled by Crypto Being a Nightmare For Noobies

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Eleven years on from the launch of Bitcoin, and crypto remains as taxing as ever for noobies. The sad thing is, without the intuitive UIs and smooth interoperability, it will continue to repel the masses. And that’s even before considering the challenges from its overly technical reputation, not least the scams that proliferate the space. Almost everything in Crypto is too complicated and this presents an incredible opportunity for product designers to simplify — Norgard (@BrianNorgard) May 10, 2018 While crypto advocates may sing its praises until they are blue…

New Metric Suggests Imminent Volatility for Bitcoin

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Bitcoin’s characteristically high volatility could return soon, giving exhausted traders an end to months of abnormally calm price action. A new metric for on-chain activity makes this prediction by measuring exchange volumes and on-chain transaction volume together to derive a signal for inflection points in bitcoin volatility. Published to popular charting interface TradingView on Tuesday, the indicator calculates a ratio of relative dominance between bitcoin trading volume on exchanges to transaction volume happening directly on the Bitcoin blockchain. The exchange data is taken from eight leading exchanges and 23 trading…

Darknet Entities Sent $67M Worth of BTC to Bitcoin Mixers in Q1 2020

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Bitfury Crystal, a blockchain analytics platform has released a new report detailing the use of bitcoin transaction mixers by darknet users from 2019 to Q1 2020. The report states that darknet entities used bitcoin transaction mixers to cover their paths more in the first quarter of 2020 as compared to 2019, according to a blog post on July 14, 2020. Darknet Vendors Increasingly Using Bitcoin (BTC) With financial regulatory authorities such as the Financial Actions Task Force (FATF), Financial Crimes Enforcement Network (FinCEN), and others now putting in place strict…