Day: July 21, 2020

Grayscale Can Now Offer Litecoin and Bitcoin Cash to the Public: FINRA

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For investors that lack the ability or drive to deal with opening an exchange account, acquiring exposure to assets like Bitcoin Cash, Litecoin, and the like is difficult. Yet on Monday, Grayscale Investments, a cryptocurrency asset manager based in New York, revealed that these barriers to entry are starting to fall. Related Reading: Crypto Tidbits: Twitter’s “Bitcoin Scam,” Elon Musk & Dogecoin, Institutions Want BTC & ETH Crypto Investing Giant Can Now Offer Litecoin & Bitcoin Cash to the Public In a press release shared with NewsBTC, Grayscale said it just “received…

Russia Shelves Plans to Criminalize Bitcoin Transactions – For Now

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Russia has dropped plans to criminalize bitcoin transactions – for now, according to local media reports. The Digital Financial Assets Bill (DFA), due to be read for the second time in the Russian parliament – or State Duma – on July 21, has removed references to administrative and criminal liability for dealing in bitcoin (BTC). A third and final reading will establish it as law. “There will be no liability in this bill,” Anatoly Aksakov, head of the parliament’s financial markets committee, told local news agency Ria Novosti. Aksakov, who…

Mastercard Fast Tracks Crypto Adoption with Launch of New Program

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In an attempt to stay ahead of the curve, payment provider Mastercard has been foraying into the crypto industry throughout the past several months. Their excitement surrounding the future of currency appears to be growing as well, as they recently announced plans to accelerate their digital assets program. This will allow issuers to rapidly bring safe and compliant cards to the market that will enable users to transact with digital currency. According to the announcement, Wirex will be the first platform to join Mastercard’s principal membership program, allowing them to…

‘USDT Will Continue to Exist Alongside CBDCs’

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Paolo Ardoino, Chief Technology Officer (CTO) of Bitfinex and Tether, says recent pushes for governments to adopt regulatory paths towards central bank digital currencies won’t adversely affect stablecoins like Tether. “In the long term, we believe that Tether will continue to exist alongside CBDCs,” the Tether CTO said to Cointelegraph, citing the token’s performance on several different blockchains including Algorand, Ethereum, EOS, Liquid Network, Omni and Tron. “Tether will remain in demand as it continues serving and unifying a variety of ecosystems.” Governments pushing for CBDCs Cointelegraph reported on July…

Grayscale Receives FINRA Approval for BCH and LTC to Trade Publicly

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Crypto fund manager Grayscale Investments will make Bitcoin Cash and Litecoin available for public trading through shares of the firm’s cryptocurrency trusts. In the July 20 announcement, Grayscale said the Financial Industry Regulatory Authority (FINRA) in the United States had approved shares of the firm’s Bitcoin Cash Trust and Litecoin Trust for public trading. The two stocks will be available on OTC markets under the symbols BCHG and LTCN. Public trading for the two digital assets remains subject to full compatibility with the Depository Trust Company (DTC), the world’s largest…

Analysts Claim Bitcoin’s 76 Day Stability ‘Bullish’: Hash Ribbons Cross and 2016 Patterns

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The price of bitcoin has been very stable lately, and the crypto asset has been trading in a less volatile range just above $9k per coin for 76 consecutive days. After the third halving, the price of bitcoin has also been far more stable, in contrast to the price action after the second halving. However, bitcoin’s price still seems to be following a similar route to 2016 when the digital asset’s price trended sideways for quite some time, until it eventually led to the all-time price highs in 2017. Cryptocurrency…

The S&P 500 Is Surging Towards a New ATH: Will Bitcoin Follow?

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Bitcoin is once again effectively flat. According to data from Coin Market Cap, the leading cryptocurrency has literally gained only 0.15% in the past 24 hours as of this article’s writing. BTC’s performance — or lack thereof — is even more striking when you consider that the asset has traded within the same 5% range for the past two weeks now. Yet with the stock market showing extreme strength, Bitcoin could rally. After all, a tight correlation has formed between the two markets that should lend to appreciation in the…

The Future of Blockchain Is Regulated, Permissioned And Decentralized

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Blockchain has come a long way since it was first proposed as the technology powering Bitcoin’s distributed ledger. Since then, it has come to be understood as a technology that exists in its own right, as the base layer of second-generation blockchain networks that are the foundation for all kinds of decentralized applications, or Apps.   The problem is that, even now, blockchain still isn’t close to reaching its full potential. While there’s plenty of enthusiasm for it and an ever-increasing flow of investment into the industry, the technology isn’t…

DeFi Token Rally Pushes Aave (LEND), (SNX) Market Cap Above Maker (MKR)

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Decentralized Finance (DeFi) tokens continue to make drastic moves on the price charts, compensating for Bitcoin’s low volatility which has recently hit a three year high. Earlier today, Aave (LEND) and Synthetix Network (SNX) token briefly surpassed MakerDAO’s (MKR) token as each rallied to $0.375 and $4.09 respectively.  The ‘flippening’ was short-lived and MKR has now reclaimed its position above LEND, SNX and Compound (COMP) and currently sits at number 28 on Coinmarketcap with a market capitalization of $453 million.  The switch up likely occurred as LEND price corrected sharply…

This Model Shows Bitcoin’s Next Big Breakout is Likely to Favor Bulls

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Bitcoin’s prolonged bout of sideways trading is bound to end eventually, and all the signs are suggesting that the next large trend-defining movement could take place in the coming days or weeks. This recent price action has been driven primarily by a sharp decline seen in BTC’s liquidity and trading volume – both signs of investors’ heightened interest in the altcoin market. Because of this, the cryptocurrency’s trading range has now narrowed to between $9,100 and $9,200. The last time BTC saw volatility levels this low was right before it…