Daily News Digest Featured News

Tuesday August 7 2018, Daily News Digest

Source: SludgeFeed

News Comments

United States


European Union



News Summary

United States

Bitcoin price falls below $ 7,000, nears 3-week low (MarketWatch), Rated: AAA

Bitcoin prices traded firmly lower Monday, after the digital currency over the weekend retreated below $7,000.

A single bitcoin BTCUSD, +2.45% last changed hands at $6,922.39, down 1.6% since Sunday 5 p.m. Eastern Time on the Kraken exchange. Since Friday’s high, the No. 1 digital currency has lost $10 billion in value, according to data from CoinMarketCap.

Source: TradingView and MarketWatch

A Culture War Is Brewing Between Bitcoin’s Old and New Money (Bloomberg), Rated: AAA

Satoshi Nakamoto may be long gone, but his early followers are still around and their identities still unknown. They go by pseudonyms, such as Cobra, and frequently spout unpopular, pseudo-anarchist rhetoric.

As the cryptocurrency’s price soared in recent years, Bitcoin’s Old Money and New Money coexisted with only occasional conflict. But this year, a prolonged slump has wiped out more than $100 billion in wealth, and the ensuing panic over how to stabilize the currency has incited a Gatsby-esque class war.

One point of contention right now involves the ownership of Bitcoin.org. Nakamoto registered the web domain a decade ago and handed it over to some early cryptoheads for safekeeping. The site still exists as a destination to evangelize Bitcoin and educate newcomers. The main proprietor is Cobra, with support from another anonymous user, Theymos.

In a recent post on the coder site GitHub that’s racked up more than 100 responses, there are calls for the removal of Cobra. People are expressing concern over his views and what it might mean for the digital currency.

Bitcoin digital currency
Source: Bloomberg

The Bitcoin community is still shaken after losing a prominent disciple last year. Roger Ver, who used to be known as Bitcoin Jesus, is now a supporter of Bitcoin Cash.

Coinbase Readies ETC Support, Considers 37 Altcoin Additions to Custody Services (cryptovest), Rated: AAA

US-based cryptocurrency exchange Coinbase announced on Friday that it had reached the final testing phase before adding support for Ethereum Classic (ETC) on its platform. Separately, the company announced it is exploring the addition of 37 new virtual currencies to its custodial service, Coinbase Custody.

Coinbase Custody to add 37 new assets

In a separate statement on Friday, Coinbase Custody said it is exploring the addition of 37 new assets, including Ripple (XRP), Cardano (ADA), EOS (EOS) and Monero (XMR).

Coinbase Resumes Bitcoin Buying and Selling in Wyoming (CoinDesk), Rated: A

The San Fransisco-based cryptocurrency exchange Coinbase is offering services again to residents living in the U.S. state of Wyoming.

Amazon cloud executive Tim Wagner joins crypto platform Coinbase (CNBC), Rated: A

Coinbase announced the hiring of Tim Wagner as vice president of engineering on Monday, snagging him from Amazon’s cloud service.

Coinbase Launches New WooCommerce Plugin (SludgeFeed), Rated: B

San Francisco-based crypto giant Coinbase has reportedly launched a WooCommerce plugin to enable online merchants to directly accept cryptocurrencies as a form of payment.

Why you should pick up the Coinbase 5 (ADA, XLM, BAT, ZRX, ZEC) (CoinClarity), Rated: A

It’s actually ridiculous and bordering on insane. It’s hard to believe, but almost a month ago we first heard that Coinbase is looking at 5 cryptocurrencies to add to its platform. And the price action response was positive, shooting up dramatically in all cases and has since sold off. Now is the time to pick these up.

For my longterm capital allocation for the Coinbase 5, here’s how I’ve divided the holdings:

  • ADA – 30% (the next generation)
  • BAT – 20% (new advertising)
  • XLM – 20% (new banking)
  • ZRX – 12% (platform, but nothing fantastic)
  • ZEC – 8% (Privacy coin, huge regulation issues, still too risky from an investment standpoint)

Robinhood Adds Ethereum Classic to Crypto Trading App (CoinDesk), Rated: AAA

Robinhood announced Monday that its customers can now invest in ethereum classic (ETC), just a day before Coinbase adds the option too.

The company said in a blog post that the option went live today on its Robinhood Crypto app, adding that only those in the 19 U.S. states with access to the service can trade ETC at this time.

The Beginner’s Guide to Investing in Cryptocurrencies (TGDaily), Rated: A

Kirill Bensonoff, partner at Caviar, offers a beginner’s guide to navigating this space. As a serial entrepreneur and crypto investor since 2013, Kirill has been involved in dozens of ICOs, provided capital and advisement as an angel investor for over 20 companies and hosts the Boston Crypto Meetup series. First and foremost with crypto investing – be aware that as a virtual currency it is not legal tender nor backed by a government and accounts and value balances are not subject to consumer protections.

  • Understand the Blockchain 
  • Understand ICOs
  • Understand the Cryptocurrency Market
  • Safeguard Against the Bear Market
  • Diversify Crypto Investments
  • Choose the Right ICO
  • Invest in Tokenized Assets

Sony Files for New Patents that Suggest Interest in Crypto Mining Hardware (Smartereum), Rated: A

Japanese technology giant Sony has filed two blockchains-related patent with the United States Patent and Trademark Office (USPTO). Both patents hint at Sony’s intention to develop a system for hosting and maintaining blockchain as observers believe the company could include these devices in its future blockchain product, probably a mining hardware.

Move over Coinbase Custody, Goldman Sachs to reportedly provide custody for cryptocurrencies (AMBCrypto), Rated: A

According to individuals close to the matter, Goldman Sachs is considering a plan to offer custody solutions for cryptocurrencies. This marks the next step in the institutionalization of cryptocurrencies and opening the market to investors like those that invest in traditional markets.

The Bitcoin Price Could Be In For A Boost From Fresh Institutional Support (Forbes), Rated: A

The bitcoin price, which has been wallowing around the $7,000 mark since a sell-off last week, could be in for a boost after it was reported New York banking giant Goldman Sachs is mulling whether to get stuck into crypto.

Starbucks Clarifies Its Position On Cryptocurrency (Ethereum World News), Rated: A

American coffee company, Starbucks, has come out to debunk rumors that it was accepting Bitcoin and other cryptocurrencies as payment. Earlier in the week, the company announced Bakkt, a new global platform that will enable the spending of digital assets. This is a joint venture involving Intercontinental Exchange, BCG, and Microsoft, amongst others. According to Starbucks’ payments VP:

The company would play a pivotal role in developing practical, trusted and regulated applications for consumers to convert their digital assets into US dollars for use at Starbucks.

HashCash ICO Platform is Set to Provide Best-in-the-Industry ICO Featured Services (Markets Insider), Rated: A

HashCash ICO Platform has launched its own ICO Launch Solutions for enterprises and startup companies who are looking for a strong platform to launch their ICO tokens.

HashCash ICO Platform offers unparalleled security infrastructure which comprises of:

  • 3 layered architecture model
  • firewall protection
  • DDoS mitigation
  • port shield
  • penetration testing

Dallas Startup to Verify People & Data via Blockchain Tech, Plans ICO (Dallas Innovates), Rated: B

Dallas-based VeriToken, an information verification company based on blockchain technology, announced its planning an initial coin offering (ICO) in September.


Here’s Why One (And Only One) Major Cryptocurrency Is Soaring Today (The Motley Fool), Rated: AAA

Ethereum Classic tokens saw their value surging as much as 13.7% higher on Monday, according to data from Coinmarketcap.com. The peak value still stopped 59% short of January’s all-time highs, but the move still stands out because nine of the 10 largest crypto-coins traded lower today. Ethereum Classic is knocking on the door to that elite group, rising from the 13th-largest cryptocurrency by total market cap to the 12th spot today.

The two-year-old spinoff from the better-known Ethereum blockchain is rising on the news that trading platform Robinhood Crypto just added support for the coin.

5 Top Altcoins Trading at a 90% Discount From All-Time Highs (SludgeFeed), Rated: AAA

Qtum (QTUM) | $6.48 | $576 Million Market Cap

Source: CoinCodex and SludgeFeed

All-Time High Price: $106.88

Siacoin (SC) | $0.0075 | $271 Million Market Cap

Source: CoinCodex and SludgeFeed

All-Time High Price: $0.11

NEM (XEM) | $0.141 | $1.28 Billion Market Cap

All-Time High Price: $2.05

ICON (ICX) | $0.865 | $335 Million Market Cap

Status (SNT) | $0.0535 | $185 Million Market Cap

Source: CoinCodex and SludgeFeed

Crypto Investing Groups Are Responsible For $ 1 Billion In Market Manipulation Throughout 2018 (Ethereum World News), Rated: AAA

The Wall Street Journal has published some troubling news related to the industry of cryptocurrency, reporting that a handful of crypto investment “groups” are responsible for manipulating the markets to a tune of $825 million in profits throughout the first half of 2018.

The study covered 175 schemes across 121 different currencies, leaving the interpretation open that manipulation could be broader across the industry,

The WSJ highlights CloakCoin (CLOAK), as an example of such manipulation. A quick glance at Coinmarketcap reveals that the currency has exhibited cycles of boom-then-bust pricing, with little indication from the industry to warrant such change in valuation. The WSJ was able to connect Qa massive pump in CLOAK on Binance with a Telegram group titled Big Pump Signal messaging to buy the coin. Despite the rising price of CloakCoin, other popularly traded coins on the exchange saw almost no price movement, indicating that the currency was acting irrespective of BTC pricing or the general crypto markets.

Cryptocurrency Pump And Dump Schemes Growing (PYMNTS), Rated: A

According to a report in the Wall Street Journal, the largest of a dozen the paper analyzed is the Big Pump Signal, a chatroom with greater than 74,000 followers that communicated on the messaging app Telegram. After launching in the end of December, the group talked up 26 pump operations that resulted in $222 million in trades, the Wall Street Journal reported.

The scams came on the heels of initial coin offerings in which startups sell digital tokens to raise funding for their projects. ICOs drew in around $20 billion during the past year-and-a-half, up from $300 million raised from 2014 to 2016.

STEEM Price Analysis: Running out of puff? (Brave New Coin), Rated: AAA

The most popular onramp for purchasing STEEM tokens is Bitcoin. BTC/STEEM handles close to 50% of the volume in the market and over $500,000 worth of daily trading volume. The 2nd most popular trading option is STEEM/KRW, making Korean Won the most popular fiat onramp for STEEM.

Steemit Korean authors
Source: Brave New Coin

The most popular exchanges for trading the BTC/STEEM are Bittrex and Binance, which together account for over 75% of the pair’s trading volume. Interestingly, the exchange that handles the most daily STEEM volume is South Korean platform, Upbit, offering the KRW/STEEM pair. It handles over USD 8 Million of 24hr volume in the pair, around ~275,000 STEEM tokens.

In the last week, on average per day, 216,183 STEEM was Powered Down, while 185,249 STEEM was powered up, an average difference of ~16%, 30,934 STEEM, or ~USD 39827.52.

STEEM power up power down
Source: Brave New Coin
STEEM active users
Source: @arcange and Brave New Coin

For example, recent data shows that both the number of active users on Steemit, as well as the number of user comments and posts, have steadily decreased over the last six months.

During April 2018 the price of STEEM rose substantially from ~$1.4 to ~4.02 , a rise of close to 400%. In the same month, however, the number of active users dropped.

Steemit categories
Source: @arcange and Brave New Coin


The number of Bitcoin$7569.07 +0.42% ATMs quadrupled across 2017 according to Statista and is still rising.

cryptocurrency ATMs
Source: Bitcoinist

The first cryptocurrency ATM was installed in a coffee shop in Vancouver in 2013 and, according to data from coinatmradar.com, there are now 3502 Bitcoin$7569.07 +0.42%ATMs in operation globally.

Genesis Coin has a 33% share of the ATM market followed by General Bytes at 26%.  General Bytes says it has sold 1,700 ATMs in 53 countries, since 2014.  EasyBit, founded in 2013, has 60 ATMs in operation.

Coinatmradar estimates new cryptocurrency ATMs are being installed around the globe at a rate of nearly 9 per day. At this rate, there will be nearly 5000 cryptocurrency ATMs in operation by the end of 2018.

Inverse Relationship of Bitcoin and Binance Coin (Hacked.com), Rated: AAA

On December 27, 2017, Bitcoin was just coming off of an all-time high of $19,891. Investors were euphoric. Even though the market was up by over 1,957% for the year, gurus and experts urged people to buy the dip. The correction was temporary, they said, as Bitcoin’s year-end-target was around $22,000.

They were wrong because on that day, BTC/USD printed its first lower high in months. The lower high was the first sign that the bull run was over.

Bitcoin BNB
Source: Hacked

With a lower high in place, Bitcoin began to unravel. On March 5, 2018, it generated another lower high of $11,700. Two months later, it created another lower high of $9,990 on May 5. Bears were in full control of the market.

On the other hand, BNB/BTC was on a bullish rampage. The pair generated a higher low on March 7, 2018 of 0.0008325. Exactly two months later, on May 7, BNB/BTC posted another higher low of 0.0014002.

Tron Passes Bitcoin as Ripple Rivals Ethereum (The Daily HODL), Rated: A

Tron is cementing its status as one of the most popular cryptocurrencies on social media.

New analysis from Cointrendz finds Tron ahead of Bitcoin as the most talked about coin on all of Twitter. Ethereum is after Bitcoin, followed closely by XRP.

Ethereum Classic, NEO, Litecoin, Stellar, Verge and Cardano round out the top 10.

cryptocurrencies Twitter
Source: CoinTrendz on Twitter

Houston, We Have a Solution: Blockchain in the Space Industry (CoinTelegraph), Rated: A

Big players are adopting blockchain for space exploration:

Space giants like the U.S. National Aeronautics and Space Administration (NASA) and the European Space Agency (ESA) are studying ways to employ blockchain for their mission. Findings obtained so far suggest that the technology might be useful both on the ground (facilitating data-related processes, just like in other mainstream institutions) and in space (helping to navigate the deep space).

European Union

Ethereum (ETH) Technical Analysis: Consolidation Almost Over, Which Way Will it Break? (cryptovest), Rated: AAA

Ethereum is resting along the $400 support as candles begin to tightly consolidate inside the breakout area of a nearly eight-month-long descending triangle pattern. Predicting which way the asset will breakout from this pattern over the next week will be difficult. The market is still recovering from Bitcoin’s sudden depreciation over the last seven days and Ethereum has struggled to hold on to bullish support since the start of August.

Bullish Signals

Looking at the ETH/USD chart over 1D candles you can see that the asset has the potential to breakout bullishly off the base support, as it has done once before. The top price target for this breakout could be around $640 if support can test the new resistance trendline (blue), which connects the last two bullish peaks. This movement would represent over a 60% gain in value overall from the current price of $407.

Bearish Signals

ETH is still holding onto the upper support area of the red region, with further support below at $390 and the bottom at $360.

Source: cryptovest

Ethereum Network Overloaded Again, Strong Suspicions of Spam (cryptovest), Rated: A

The Ethereum network is once again undergoing what looks like a spam attack. A single address is sending and receiving transactions, consuming 24.85% of the gas, based on data from the Ethereum gas station. This was the peak value in the early hours on Tuesday UTC, and later the transactions started to gradually decrease their gas use.

German Stock Exchange Boerse Stuttgart To Establish ICO Platform And Cryptocurrency Exchange (ETHNews), Rated: AAA

Boerse Stuttgart (sometimes written as “Börse Stuttgart”) operates the second-largest stock exchange in Germany and is one of the world’s leading traditional exchanges. In April 2018, it announced a mobile-based cryptocurrency trading application, which it described as the “first crypto app in the world to have a traditional stock exchange behind it.” The application, called BISON, is being built by FinTech startup Sowa Labs, a subsidiary of Boerse Stuttgart Digital Ventures.

On August 2, 2018, Boerse Stuttgart Group announced further plans to expand its offering for digital assets. The group is launching an ICO platform and a “multilateral and regulated trading venue for cryptocurrencies,” alongside cryptocurrency custody services to achieve an “end-to-end infrastructure for digital assets.”

Audit Provides Binance-Listed ERC20 Tokens With Clean Bill Of Health (Hibusiness), Rated: A

Binance-listed ERC20 token bills have received a clean bill of health from smart contract security firm Quantstamp subsequent to carrying out an assessment to decide if any of the exchange’s listed assets were at risk to the recently discovered batchOverflow and proxyOverflow weaknesses.

Engineered Destruction: One Year Post-ICO, This Startup is Destroying All Issued Tokens Due to Market Speculation (CryptoSlate), Rated: A

Crypto risk management and inheritance platform Digipulse announced the total burn of all DGPT tokens at the end of 2018, citing speculation-driven fluctuation in token price as the key driver behind the complete elimination of the Digipulse token model.

Moving Past Scandal and Fear, Swiss Banks Now Open to Crypto Investors (Crypto Disrupt), Rated: A

Last month it was reported by Crypto Disrupt that crypto investors were taking their business elsewhere in light of conditions allegedly being imposed by the Swiss National Bank, making it difficult for cryptocurrency companies to open bank accounts and carry out necessary banking actions.

It has recently been reported, however, that two prominent Swiss banks had broken ranks and decided to go against the grain by accepting money generated through crypto-related business.

The first of the two banks to open the doors to crypto investors is Falcon Private Bank, an Abu Dhabi-backed enterprise based on the Pelikanstrasse in central Zurich.


According to Indeed.com, blockchain startups preparing to ICO payout monthly salaries averaging from $7,000 to $9,000 for one developer, $5,000 for a marketing specialist, $5,000 for a project manager and $6,000 – $,7,000 for an analyst. All together, the sum of these employee salaries along with general operative costs and other auxiliary costs can bring total expenditures to more than $50,000 per month and this does not include additional costs such as software, advertising budgets and market research.

An average “box version” would cost the startup $ 35,000 – $ 90,000 for 2-3 months of preparing and launching a tokensale, which is several times less than the cost of office rent.


Prof. Omri Ross of Copenhagen University sees the potential for a wide array of blockchain applications, and next week is hosting the 3rd annual innovation seminar to expand on those ideas.

United Kingdom

Scottish Government commissioned report on distributed ledger technology published (FutureScot), Rated: A

A report commissioned by the Scottish Government on the use of distributed ledger technology (DLT) in the public sector has been published.

The Government’s digital strategy, Realising Scotland’s full potential in a digital world, identified digital ledger technologies as a topic with implications for improved digital public services and the development of a vibrant digital economy.

Omnitude eyes mainstream blockchain adoption with ECOM token (Coinrivet), Rated: A

Omnitude is today listing its ECOM token on its first centralised exchange, BitForex.

ECOM, which had already been listed on the decentralised IDEX exchange, will join 80 other coins and tokens, including Bitcoin, Ethereum and Litecoin and users will be able to trade with Ethereum and USDT.


Researchers Build Blockchain Electricity Exchange They Say Cuts Waste (CoinDesk), Rated: A

Researchers from one of the top universities in China say they have developed a decentralized exchange, not for crypto assets, but for unused power.

A patent application filed by team from China’s Fudan University in January and revealed on Friday sets out the workings of a blockchain-based electricity exchange that assigns power sellers and buyers as nodes on the network and allows them to securely trade unused electricity without a third-party intermediary.


Finder.com co-founder plans crypto bank in Australia (CoinGeek), Rated: AAA

Entrepreneur Fred Schebesta, known for having co-founded the Finder.com website, is interested in opening a cryptocurrency bank in Australia. He rightfully believes that crypto is gaining in popularity and that there is an increasing need to have a financial institution that can cover the space, asserting that there is no crypto bubble, as many seem to claim. He points out that people have always referred to Bitcoin as being in a bubble, even when it was worth $10 and as it continued to increase in value from $100 to $1,000.

Aussie-founded blockchain startup Sendy raises $ 500,000 in ICO pre-sale for token that rewards email recipients for their attention (Smart Company), Rated: A

Aussie-founded blockchain email startup Sendy, which rewards people for engaging with marketing emails, has raised $500,000 in its initial coin offering (ICO) pre-sale.

ClinTex CTi Leverages Distributed Ledger Technology to Lower the Cost of New Medicine and Improve Patients’ Lives (NewsBTC), Rated: A

CTi (Clinical Trials Intelligence) aims to bring down the cost of medicine, as well as increase the speed of access to new medicine, by reducing development costs for the global pharmaceutical industry.

ClinTex, the company behind CTi, say it will achieve this by revolutionising how clinical trials are conducted through the innovative use of a combination of smart contracts both on their private consortium blockchain and on the Ethereum public blockchain. The platform is at its core a decentralised database of clinical data, but also will host 7 separate DApps, the primary function of which will be the management and optimisation of the key pain points in the conducting of clinical trials.


Bithumb Reopens Withdrawals for 10 Cryptocurrencies Including XRP (Ripple News), Rated: AAA

One of the largest virtual currency exchange platforms in the world and the leading exchanger in South Korea, Bithumb, yesterday, on August 4, made an officialannouncement about reopening withdrawals and deposits for 10 listed cryptocurrencies. The announcement confirmed that the list of cryptocurrencies for the first round services will include Bitcoin (BTC), Ethereum (ETH)Ripple (XRP), Ethereum Classic (ETC), Qtum (QTUM), Litecoin (LTC)Bitcoin Cash (BCH), Monero (XMR), Zcash (ZEC) and Mithril (MITH).

Bithumb, which is currently 12th largest cryptocurrency exchange by trade volume in the world, also confirmed that the reopening time of withdrawals and deposits moved to 7pm from earlier announced 11am (Korea Standard Time) of August 4.

You May be Able to Use Virtual Currency Soon; Government in Favor of Digital Money (India), Rated: A

You may soon be able to use the digital currency, as the government is working on the technology to make it a reality. According to sources, the work on domestic virtual currency is underway and it will also be examined whether the technology can be used for other purposes. According to sources, the report is expected to be prepared by September

The Reserve Bank of India (RBI) also set up a committee in April this year to study the feasibility of introducing a ‘central bank digital currency’, considering the economic efficiency of digital currencies. The report was scheduled to be submitted by end of June.

Zilliqa To Bring Blockchain To Japanese Companies With Infoteria Partnership (BlockTribune), Rated: A

Japanese enterprise software firm Infoteria Corporation has partnered with blockchain startup Zilliqa to enable enterprise systems to easily utilize Zilliqa’s platform.

As part of the partnership, both companies will promote the Zilliqa blockchain platform on Asteria, which has more than 6,500 enterprise customers and 41 percent market share in Japan. The companies will also launch a series of initiatives to support the development of enterprise decentralized applications (DApps) based on the Zilliqa blockchain and Asteria later this year.

Blockchain-Based Platform Unveils AI Chatbot to Help Students Pass Crucial Exams (CoinTelegraph), Rated: B

A new platform is using artificial intelligence (AI) and blockchain to address the “growing class divide” in education — helping all students access equal opportunities and unlock their full potential.

Õpet says it wants to address the “confusion and apprehension” teenagers face when they finish high school and simultaneously offer smart revision tools that will help these students get the best grades possible in crucial exams, resulting in a wider range of options when they are contemplating their first steps.


George Popescu
George Popescu
Allen Taylor
Allen Taylor

About the author

Allen Taylor

Add Comment

Click here to post a comment

Your email address will not be published. Required fields are marked *