Day: July 17, 2020

Cryptocurrency Exchange OKEx Lists Polkadot’s DOT Token

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OKEx has listed the native token of Polkadot (DOT) on its trading platform. According to an announcement shared with Cointelegraph on July 17, DOT spot trading against Tether’s USDT stablecoin on OKEx started at 8:00 AM UTC today. As Cointelegraph recently reported, Pokadot’s technology allows developers to spin up a new blockchain within one hour. Per the announcement, DOT deposits and withdrawals aren’t supported yet, and the tokens can currently only be obtained by claiming them on the mainnet from Ethereum’s blockchain. OKEx also recently published a detailed guide on…

Grayscale Hasn’t Bought A Single Bitcoin in Over 3 Weeks

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Given the rate at which Grayscale usually buys Bitcoin, it seems like the cryptocurrency fund management company was trying to buy every single Bitcoin in existence. But this pattern ground to a halt more than three weeks ago and hasn’t picked up again since. Grayscale Bitcoin Trust Fund (GBTC) would typically file a Form 8-K with the Securities and Exchange Commission (SEC) on a weekly basis, declaring its latest Bitcoin acquisitions. But the last time such a report was filed was June 25, when the company disclosed the purchase of…

Grayscale Says Bitcoin ETF Only a Matter of Time

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The crypto market may finally see a Bitcoin ETF approval, although regulators need more time.  “We think a Bitcoin ETF is a matter of when, not a matter of if,” Grayscale Investments managing director, Michael Sonnenshein, told Morgan Creek Digital co-founder Anthony Pompliano in a July 15 interview. “The regulators have done a fantastic job of staying ahead of the curve on the digital currency asset class as a whole,” he added.  The crypto space moves fast Explaining the speed at which the global digital crypto world moves, Sonnenshein described…

This Technical Pattern Could Send Ethereum to New Yearly Highs

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Ethereum has been closely tracking Bitcoin’s price action throughout the past several days and weeks. This has made it exposed to some near-term downside, as BTC is currently sitting just a hair above the lower boundary of its long-held trading range between $9,000 and $10,000. It appears that ETH has been forming a bullish technical formation throughout the past several weeks, which could bolster its mid-term outlook. The same pattern was formed in early-May when it was trading within the lower-$200 region. If this pattern results in a similar rally,…

Russian Cybercrime Surged 25x in 5 Years, Says Local AG

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Igor Krasnov, Russia’s new Attorney General, says that cybercrime in Russia has surged 25 times over the past five years. Krasnov made the statement during a recent meeting devoted to fighting cybercrime in Russia, according to an official statement on July 17. Only 25% of cybercrime in Russia gets solved At the event, Krasnov outlined that there have already been 225,000 cases in the first half of 2020, a 92% increase in the same timeframe from 2019. The total number of Russian cases for all of last year was just…

Market Wrap: Derivatives, Altcoins Take Market Spotlight as Bitcoin Dozes at $9,100

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Traders want a bitcoin price breakout but they aren’t sure when that will happen. Bitcoin (BTC) trading around $9,174 as of 20:00 UTC (4 p.m. ET). Gaining 0.64% over the previous 24 hours. Bitcoin’s 24-hour range: $9,054-9,184 BTC above 10-day and 50-day moving average, a bullish signal for market technicians. Bitcoin trading on Coinbase since July 16.Source: TradingView Read More: Exchanges See Drop in Volumes as Bitcoin Volatility Approaches 2020 Low Traders are optimistic that bitcoin’s weak market, with low volumes and low volatility, can quickly change. Price movement outside…

Pushing the Legal Limits, July 10–17

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Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Editor’s note New developments in crypto this week are challenging a number of critical boundaries of legal authority. We are, consequently, looking at several cases that promise to set new lines for government reach and overreach. Cassius lamented Caesar bestriding the narrow world like a colossus. While nothing on the docket today is going to be as dramatic as the death of the Roman Republic, we did actually see a pretty…

Ripple’s Garlinghouse Says China Leads US in Crypto Regulatory Outlook

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Ripple CEO Brad Garlinghouse said he considers China ahead of the U.S. as both countries wade the regulatory waters of the burgeoning crypto space. As part of the Chamber of Digital Commerce’s Parallel Summit on July 17, Garlinghouse expressed admiration for China’s approach to the crypto space. “In some ways I’m in awe of it,” he said. China sees the potential? China’s position comes from an appreciation for crypto’s potential, Garlinghouse posited. He explained: “I think they’re realizing that some of these technologies may in fact be very foundational for…

Venezuela Bans Crypto Mining From Public Housing

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Venezuelan Minister of Habitat and Housing Ildemaro Villarroel announced today that crypto mining operations won’t be allowed in any state-owned housing or neighborhoods that are part of the “Gran Misión Vivienda” project (Great Home Mission). During an official speech on July 15, Villaroel stated that any kind of equipment related to crypto mining is banned in public housing due to “high power consumption” and for widely “violating” the government’s electrical supply policy.  The minister added: “In this coordinated work, we have detected the harmful effects of these elements of high…

Bitcoin Historical Volatility Approaching Zero Could Signal Blossoming Bull Trend

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The cryptocurrency known for its wild volatility, Bitcoin, has been trading sideways for several months in a tightening trading range. Historical volatility is approaching zero, for less than the tenth time in the asset’s decade long history. In the past, this low of volatility proceeds a major move and trend change. Could the metric fast approaching zero be a signal that a new bull trend is blossoming? What’s Happening To The Cryptocurrency’s Signature Volatility? The leading cryptocurrency by market cap has spent the bulk of its life thus far oscillating…