Month: August 2018

Key Highlights ETH price extended declines and dropped below the $260 support zone against the US Dollar. Yesterday’s highlighted crucial bearish trend line is intact with resistance at $305 on the hourly chart of ETH/USD (data feed via Kraken). The pair may well correct a few points higher towards $277-280, but it is likely to face sellers. Ethereum price dropped significantly against the US Dollar and bitcoin. ETH/USD is likely to decline further below $250 in the near term. Ethereum Read more …

The cryptocurrency markets continue to fall despite strong fundamentals, and the market decline has been largely led by tokens.  The continued decline precedes a short lived, yet promising, rally when Bitcoin rose to approximately $8,400 on July 24th before gradually falling to lows of $6,100 on August 10th. Major Tokens Setting New Yearly Lows Although Bitcoin has fallen nearly 30% from its monthly highs, altcoins have been especially affected by the market decline. Currencies like EOS and Ethereum have been pushed Read more …

Exchanges Japan’s GMO Internet has unveiled new priorities for its cryptocurrency business along with the performances of its crypto exchange and mining operations. The changes going forward result from the bear market and increased total hash rate. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space GMO Coin Profits Up 7.3-Fold Japanese internet giant GMO published its second-quarter results for this fiscal year on Thursday. The report details the performances of the company’s cryptocurrency operations as well as changes in Read more …

Ripple Price Key Highlights Ripple price recently fell through short-term consolidation to test the bottom of its channel. Support appears to be holding, so price could be due for a pullback to the descending channel resistance from here. The Fib retracement tool shows the potential correction levels where more bears might be waiting. Ripple price fell to the bottom of its descending channel on the 1-hour chart and might be due for a quick correction. Technical Indicators Signals The 100 Read more …

Key Points Bitcoin cash price failed to move past the $580-600 resistance and tumbled against the US Dollar. There was a break below a key bullish trend line with support at $500 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair traded below the $475 level and it is currently correcting higher towards $500-510. Bitcoin cash price traded sharply lower below $500 against the US Dollar. BCH/USD could correct higher, but it remains sell on Read more …

Barbados-based fintech startup Bitt Inc. has signed a Memorandum of Understanding (MOU) with the Central Bank of Curaçao and Sint Maarten (CBCS) to research the possibility of issuing a digital guilder, according to an August 12 press release. The parties signed the MOU in order to develop a central bank digital currency to facilitate financial payments within the monetary union of Curaçao and Sint Maarten. Per the announcement, the bank is looking to “reduce the level of cash usage within Read more …

Those running lightning nodes are earning a little extra bitcoin. Trumpeted as a way to scale bitcoin to handle mainstream adoption, there’s a lesser-known perk to spinning up a lightning node to allow users to send cheap, instant payments – you can make money. To be clear, we’re not talking very much. Today’s average fee on the lightning network clocks in at about one satoshi, worth a fraction of a cent, per hop (so every time a node routes the Read more …

Regulation A member of the Venezuelan National Constituent Assembly has reportedly revealed that the assembly is preparing a reform to the country’s Constitution that includes a central bank for cryptocurrencies. This follows the Venezuelan government’s latest effort to tie the new bolivar currency to the petro. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Central Bank for Cryptocurrencies Hermann Escarra, a member of Venezuela’s National Constituent Assembly, has revealed the assembly’s plan for cryptocurrencies in an interview with Reuters Read more …

A group of researchers claims to have have hacked the Bitfi wallet, the Next Web reported Aug.12. Bitfi’s executive chairman, cybersecurity pioneer John McAfee, has called it “the world’s first unhackable device.” To prove his claim, McAfee challenged security experts to breach the device for a $100,000 bounty starting July 24. Bitfi is a physical device, or hardware wallet, which supports “an unlimited amount of cryptocurrencies,” and revolves around a user-generated secret phrase instead of a conventional 24-word mnemonic seed Read more …

The price of bitcoin fell below $6,000 on Tuesday, a move that brought the world’s largest cryptocurrency within 2 percent of its 2018 low.  At press time, bitcoin is trading hands at $5,922, printing a 5 percent 24-hour depreciation, according to the CoinDesk Bitcoin Price Index, up slightly from a low of $5,785 set June 24. Bitcoin is not alone in the sinking ship, however, as the broader market continues to suffer. At press time, the total market capitalization of all Read more …

Falling prices have sent the total market capitalization of all cryptocurrencies back below $200 billion. Data from CoinMarketCap shows the total market cap slid to $189 billion on Tuesday, a move that follows successive days of market declines. The market cap first rose above $200 billion in November 2017, a development spurred at the time by the listing of bitcoin futures products. Leading the downward push is zilliqa, which has seen the value of its ZIL cryptocurrency fall by 35 Read more …