Month: May 2020

Thursday’s Bitcoin (BTC) price action was relatively uneventful compared to the past 48-hours of activity that the top-rated crypto on CoinMarketCap pulled off on Tuesday and Wednesday.  On crypto-Twitter, one will easily find analysts calling for the digital asset to rally to $10,000 before halving, and a few have even hinted that a new lifetime high is on the cards.  Tether withdrawals soar with BTC price Regardless of these predictions, Bitcoin’s $1,700 single day move made waves and crypto exchanges Read more …

Almost half of the darknet sites surveyed by the Australian National University do not offer COVID-19 ‘treatments’ or protective equipment.  Researchers found that eight out of 20 markets do not sell any items related to coronavirus with another nine selling a very limited selection. Just three sites accounted for the vast majority (85%) of all unique items sold. The study was commissioned by Australian Institute of Criminology and monitored 20  darknet markets on April 3 to conduct a census of Read more …

A recent survey conducted by South Korean wallet provider Childly found that 66% of respondents are in favor of crypto assets being taxed. The poll of more than 5,750 crypto users worldwide revealed that only one-in-five crypto users are opposed to digital asset taxation. Crypto community warms to taxation 48% of respondents strongly agreed that cryptocurrencies should be taxed, describing digital asset taxes as “a must.” 18% of participants expressed support for crypto taxes, however, on the proviso they were Read more …

Ethereum surged to a new monthly high at $227 before correcting lower against the US Dollar. ETH price is now testing the $205 support zone and it is likely to start a fresh rally. Ethereum started a downside correction after a strong rally above $220. The price is currently trading above the key uptrend supports at $205 and $200. There is a short term contracting triangle forming with resistance near $210 on the hourly chart of ETH/USD (data feed via Read more …

A Californian judge has given preliminary approval for a $25 million settlement proposed by the Tezos Foundation to end a consolidated class-action lawsuit. The lawsuit dates back to shortly after Tezos’ $232 million initial coin offering (ICO) in July 2017, when investors started filing claims against the firm, accusing Tezos of issuing unlicensed securities in the U.S. According to court documents from an April 30 hearing, the judge wrote, “the Court will likely be able to approve the settlement, subject Read more …

Major U.S. accounting firm Grant Thornton is moving all of its clients’ intercompany transactions to the EOSIO network. Grant Thornton’s new inter.x platform uses blockchain technologies to provide transparency for intercompany transactions, including real-time data-analytics monitoring transfer-pricing compliance and treasury management. A company representative told Cointelegraph that Grant Thornton had chosen EOSIO for “its speed, user experience and scalability.” While a spokesperson said it was difficult to put a dollar value on the firm’s intercompany transactions, the company reported $1.9 Read more …

Bitcoin rallied to $9,500 before starting a downside correction against the US Dollar. BTC price might dip towards the $8,200 support zone before a fresh increase. Bitcoin jumped more than 20% and tested the main target of $9,500 (as discussed yesterday). The price is down more than 8% and it is now trading well below the $9,000 level. There is a short term declining channel forming with resistance near $8,800 on the hourly chart of the BTC/USD pair (data feed Read more …

Ripple’s On-Demand Liquidity (ODL) payments network tripled in transaction volume over the last quarter according to the just released Q1 2020 XRP Markets Report. The dollar value transacted using ODL increased by more than 294%, which is good news for token holders with the report describing XRP liquidity as the “lifeblood of Ripple’s [ODL] for cross-border payments.” In further good news, Ripple has again reduced its total XRP sales from $13.08 million in Q4 2019 to $1.75 million in Q1 Read more …

Major changes are happening in the cryptocurrency space in Japan as new cryptocurrency regulation enters into force today. Among notable changes are the regulation of crypto custody service providers and crypto derivatives businesses. Japan has 23 regulated crypto exchanges; unregulated platforms have modified their terms of service affecting Japanese residents. Japan Adopts New Way to Regulate Crypto Industry The amendments to the Payment Services Act (PSA) and the Financial Instruments and Exchange Act (FIEA) that revise the regulatory framework for Read more …

At Virtual Blockchain Week, crypto pioneer Charlie Shrem made a strong bull-case for Bitcoin, saying the combination of diminishing supply due to the halving, and wholesale quantitative easing, will drive prices higher over the next one to two years. Bitcoin halving and QE During a fireside chat with the VBW hosts on April 30, Shrem stated that, “It’s kind of crazy that we have a halving during coronavirus because it was such a black swan event.” “We have two trillion Read more …

Bitcoin has been on a tear over the past two days. After breaking past $7,800 on Tuesday evening, the cryptocurrency entered a steep uptrend that saw no serious pullbacks until 36 hours later when BTC hit $9,500. This marked a 20% rally from the lows. This move largely caught traders off guard, with crypto derivatives data site Skew.com reporting that over $100 million worth of BitMEX short positions were liquidated during the rally from $7,800. Bears, however, may soon get Read more …

Bitcoin’s insane rally yesterday that allowed it to climb nearly $2,000 at its peak has stalled, with the retrace from its daily highs of $9,500 printing a massive wick that has made its daily candle look quite bearish. Analysts are now noting that a myriad of different technical factors suggest that the cryptocurrency may be poised for a pullback in the near-term. There are a few key levels that analysts are closely watching, and how the crypto reacts to these Read more …