How Will the Crypto Markets Perform in Coming Years?

The crypto markets roared back to life at the beginning of 2019 after having a poor year previously, but many concerns remain despite the impressive show in the first half of the year so far. In an interview, the Managing Director of the advisory firm PFYN Advisory, Patrick Franz, spoke broadly about the range of changes that could eventually propel the crypto space even further in the years to come. PFYN wishes to eventually harness a crypto markets ecosystem in which traders from all over the world can buy and…

Oil Markets Could Save 30% With Blockchain, Data Gumbo CEO Says

Global oil operators can save at least 30% by using blockchain in their infrastructure, according to data by blockchain startup Data Gumbo. Andrew Bruce, CEO of American blockchain startup Data Gumbo, discussed blockchain-powered automated contract execution in the oil industry on Bloomberg Commodities Edge on July 19. When asked how much oil industry players can save by implementing blockchain applications such as blockchain-based contract execution instead of traditional paper contracts, Bruce argued that such solutions could save at least 30%, referring to internal studies by the company. According to Data…

Major Crypto Markets Report Mixed Signals, Gold Slightly Fell

Friday, July 19 — Cryptocurrency markets are reporting mixed signals, with most of the top-20 coins by market capitalization are down over the last 24 hours. Market visualization. Source: Coin360 Bitcoin (BTC) has stayed above the $10,000 threshold during the day and is trading at around $10,412 at press time. The leading cryptocurrency has lost 2.14% on the day, while its weekly losses amount to nearly 10%.  As reported earlier today, U.S. Congressman Patrick McHenry, who represents North Carolina’s 10th District, told fellow lawmakers directly that attempts to stop Bitcoin…

Facebook in The Firing Line Again, Has it Impacted Crypto Markets?

Crypto markets have continued to slide today following a dump that accelerated at the weekend, resulting in over $100 billion leaving the scene over the past seven days. The market mayhem has coincided with a second US Congress hearing on Facebook’s Libra project. Libra Lambasted From All Sides A second hearing has been schedule for today as US senators grapple with the concept of a tech giant controlling the finances of potentially a third of the planet’s population.  As a follow up from the proposed ‘Keep Big Tech Out Of…

‘A Recipe for More Corporate Power Over Markets’

Libra is a “recipe for more corporate power over markets and over consumers,” according to U.S. Senator Sherrod Brown, ranking member of the Senate Banking Committee.  Senator Brown’s recent comments came by way of an official video tweet by NowThis News on July 16, posted hours after the Senate Banking Committee hearing on Facebook’s Libra. Brown appeared especially concerned about Facebook gaining the ability to force people to use their money and play by their rules. He remarked: “What happens when Facebook forces businesses to quit accepting your credit card…

Ripple Performs Better than Broader Crypto Markets on Technical Support

One of the most interesting cryptocurrencies to have emerged over the past few years has been Ripple (XRP), and it has managed to hold onto its position as the third biggest cryptocurrency by market capitalization. However, it has not had the best year so far, despite threatening to break out more than once. In a new development that will be welcomed by those who hold XRP, the cryptocurrency has managed to outperform the market amidst all the chaos. XRP Finds Support While most of the market has been in a…

Ethereum Price Nosedives 15% in Crypto Market’s $28 Billion Wipeout

Overnight, within merely hours, the valuation of the crypto market dropped by $28 billion as major assets in the likes of Ethereum and Litecoin fell in the range of 11 to 15 percent. Analysts have largely attributed the correction to a technical move given the 200 percent year-to-date gain of bitcoin since January. Market largely oversold, can it recover? Global markets analyst Alex Krüger said on July 12 that while the medium to long term trend of bitcoin remains bullish, a drop in the price of bitcoin below $11,300, which…

Ethereum Price Nosedives 15% in Crypto Market’s $28 Billion Wipeout

Overnight, within merely hours, the valuation of the crypto market dropped by $28 billion as major assets in the likes of Ethereum and Litecoin fell in the range of 11 to 15 percent. Analysts have largely attributed the correction to a technical move given the 200 percent year-to-date gain of bitcoin since January. Market largely oversold, can it recover? Global markets analyst Alex Krüger said on July 12 that while the medium to long term trend of bitcoin remains bullish, a drop in the price of bitcoin below $11,300, which…

Japanese Crypto Exchange Hacked in $32 Million Heist, Markets Oblivious

Following the demise of one of Poland’s largest crypto exchanges last week, news is breaking today that one in Japan has just been hacked. Bitpoint Suspends Services An official announcement today stated that Japanese crypto exchange Bitpoint has suspended services following a heist to the tune of around $32 million in crypto assets. A Boomberg report added that XRP was one of the major cryptocurrencies involved in the theft of about 2.5 billion yen in customer funds. A further billion yen in assets belonging to the exchange were also lost.…

Crypto Markets Continue Trading in Red, Oil Reports Losses

Thursday, July 11 — major cryptocurrency markets are trading in the red zone, with just a few coins reporting moderate gains, according to Coin360. Market visualization courtesy of Coin360 The leading cryptocurrency Bitcoin (BTC) has continued coming down after yesterday;s sharp drop to trade at around $11,740 as of press time. The coin has lost 4.39% over the past 24 hours. During the day, Bitcoin has been trading in a narrow corridor between $12,191 and $11,377. As reported earlier today, Bitcoin trading in Zimbabwe has continued to surge after the government…