Month: July 2018

Markets and Prices This summer, over 50,000 trades on popular crypto exchange Kraken, concerning the very controversial alternative coin tether (USDT), were analyzed by journalists, an academic, and a former US Federal Reserve regulator. They describe activity monitored as highly unusual in that larger orders of tether failed “to sway prices much.” Red flags were raised due to none of the three analysts having ever “seen a market behave like Kraken.” Is it a case of blatant manipulation or a Read more …

SlowMist, a Chinese cybersecurity firm, has recently pointed out a transaction that should have some worried, as the user managed to double the value of 694 USDT. SlowMist: User On Thursday, a blockchain centric cybersecurity firm, issued a Tweet which drew attention to a questionable USDT transaction. 交易所在进行USDT充值交易确认是否成功时存在逻辑缺陷，未校验区块链上交易详情中valid字段值是否为true，导致“假充值”，用户未损失任何USDT却成功向交易所充值了USDT，而且这些 USDT 可以正常进行交易。我们已经确认真实攻击发生！相关交易所应尽快暂停USDT充值功能，并自查代码是否存在该逻辑缺陷。 pic.twitter.com/EPzZIsZFzH — SlowMist (@SlowMist_Team) June 28, 2018 According to the automated translation of the Tweet, originally given in Mandarin Chinese, the user was able to illegitimately add USDT value to Read more …

Formula One world champion and recent Les Mans 24 winner Fernando Alonso will be one of the first known sportspersons to move his entire digital library to the blockchain. WENN Digital Inc and the driver have partnered up through the former’s KODAKOne Image Rights Management Platform to provide for the protection of the driver’s professional and personal images as well as his videos using the KODAKOne Platform. The agreement between Alonso and WENN Digital will provide an opportunity to Alonso’s global Read more …

Cryptocurrencies will not challenge the economic power of central banks, the European Parliament said last week. In the latest Monetary Dialogue report issued on June 26, the European Parliament’s Committee on Economic and Monetary Affairs said that while cryptocurrencies have made financial transactions “relatively safe, transparent, and fast,” they pose no threat to sovereign currencies around the world. The analysis, which was conducted by the Center for Social and Economic Research, a non-profit research institute based in Warsaw, first recognized Read more …

The week did not leave much to be desired for, with the market seeing a variety of positive institutional news amidst volatile price movements. Institutional Investment Dominates The News Cycle The presence of traditional institutions has been an important topic of discussion in the cryptocurrency community. Many analysts expect that widespread institutional investment will usher in a new level of cryptocurrency adoption and innovation, quickly reaching and surpassing all-time highs. Announcements made this week have shown the growth of the institutional Read more …

2,033 ZEC. That’s how much Zooko Wilcox, CEO of the Zcash Company, earns per month from the $650 million zcash cryptocurrency network he helped create. Worth $305,000, or $3.65 million annually, the details of his salary, revealed by Wilcox in a presentation at Zcon0 Tuesday, have sparked somewhat of a scandal on social media. “I really did this whole ‘starting a cryptocurrency’ thing wrong, didn’t I?” Jackson Palmer, founder of $260 million cryptocurrency dogecoin, tweeted. It’s a notable critique, as Read more …

Regulation The banking ban by India’s central bank is set to begin on July 5. One of the largest crypto exchanges in the country, Unocoin, is working on banking alternatives. News.Bitcoin.com spoke with the exchange’s CEO about what to expect when the ban begins, trader sentiment, and possible ways to bypass the ban. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space RBI Ban Impending The crypto banking ban mandated by the Reserve Bank of India (RBI) is set to Read more …

Eric Meltzer, a partner at INBlockchain, the largest blockchain-focused fund in China, reported that rumors suggest a bitcoin mining facility in China was destroyed by a massive flood that affected the entire province of Sichuan, China. Heavy Rain and Flood in Chinese Provinces Affect Mining Centers As an investor in bitcoin back in 2013 and an early investor in Ethereum, Zcash, Qtum, EOS, OmiseGo, Status, and Decentraland, within five years, INBlockchain has become one of the most influential cryptocurrency investment Read more …

Key Points Bitcoin price made a short-term low near $5,800 and bounced back against the US Dollar. There was a break above a key bearish trend line with resistance at $6,280 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is currently trading with a positive bias above the $6,000 support area. Bitcoin price is showing positive signs against the US Dollar. BTC/USD may perhaps extend the current wave towards the $6,500 and $6,600 resistance Read more …

Key Highlights ETH price managed to recover higher after forming a low near the $404 level against the US Dollar. There is a monster bearish trend line formed with resistance near $456 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair has to move above the $456 and $480 resistance levels to gain upside momentum. Ethereum price is facing a major resistance versus the US Dollar and Bitcoin. ETH/USD must clear the $456 hurdle to test the Read more …