Daily News Digest Featured News

Friday November 30 2018, Daily News Digest

Bitcoin
Source: MarketWatch

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United States

International

European Union

United Kingdom

APAC

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News Summary

United States

Welcome to the family, 0x, BAT, and USD Coin (Coinbase), Rated: AAA

Coinbase

0x Price Jumps 18% as Coinbase App Trading Draws Near (NullTX), Rated: A

In the past 24 hours, there has been a strong uptrend where the 0x priceis concerned. Due to a net 17% gain in USD value, followed by a 9% gain over Bitcoin and a 10% lead over Ethereum, things are looking pretty good. This has also allowed the 0x price to surpass $0.45 once again, which is pretty interesting to keep an eye on.

ZRX

Coinbase Launches Zcash Trading Services on Coinbase Pro (Bitcoin Magazine), Rated: A

Popular cryptocurrency exchange Coinbase is launching Zcash (ZEC) trading on its professional trading platform Coinbase Pro. The announcement made via Coinbase’s blog page states that inbound transfers of the currency will begin at 10 p.m. PST on Thursday, November 29, 2018, though early deposits have already begun.

Coinbase, Digital Currency Group invest in Flipside Crypto — aim to value cryptos for more than hype (MarketWatch), Rated: A

Flipside Crypto has added Coinbase and Digital Currency Group — two of the biggest names in the U.S. digital-asset industry — as investors.

Flipside Crypto Asset

Bitcoin Price Analysis: Wait and See Where Recent Signs of Strength Lead (Bitcoin Magazine), Rated: AAA

This week realized a big gain as bitcoin enjoyed a 25% rally from its local bottom before topping out around $4,400. Support currently appears to be established in the mid-$3,000s as the market remains indecisive over its next move:

Bitcoin price
Source: Bitcoin Magazine

Figure 1: BTC-USD, Daily Candles, Current Support Level

Bitcoin price 4-hour candles
Source: Bitcoin Magazine

Figure 2: BTC-USD, 4-Hour Candles, Current Low Time Frame Support Level

Summary:

  1. After bottoming out around $3,500, bitcoin enjoyed a near 25% rally where it is currently testing the resistance of its macro 78% retracement.
  2. On lower time frames, bitcoin is seeing a decent sign of strength as the demand appears to be relatively high and the candle spread is wide.

If history repeats itself, this chart will awaken bitcoin bulls (MarketWatch), Rated: AAA

Much like the 2014-2015 bear market, losses for bitcoin BTCUSD, -5.08% have surpassed 80%, but of more interest is how the 2014-2015 bottom ended. In the first two weeks of 2015, bitcoin fell 43% to $178 before launching its recovery. In the two weeks ending Nov. 25 of this year, bitcoin lost 45% of its value.

Bitcoin
Source: MarketWatch

But others need more convincing. Jani Ziedins of the CrackedMarket blog, who correctly predicted the bitcoin selloff from above $8,000, expects the bounce off $3,500 to be short-lived.

Hunker down, crypto owners, the worst is yet to come: Fred Wilson (MarketWatch), Rated: A

In a recent blog post titled “what bear markets look like,” the co-founder of Union Square Ventures said the hard times for digital currency owners are far from over. Drawing comparison with Amazon AMZN, +0.23%  and the dot-com bubble of the late 1990s and early 2000s, Wilson said the lofty heights of late 2017 for bitcoin and other digital currencies could be years away.

However, venture capital guru Fred Wilson said those dabbling in cryptocurrencies should enjoy the rally while it lasts.

Cryptocurrency Market Update: Real Recovery or Dead Cat Bounce? (NewsBTC), Rated: A

Percentage gains today are less than what they were yesterday but market capitalization is approaching $140 billion once again.

Many are calling a ‘dead cat bounce’ on Bitcoin indicating that it will meet resistance at $4,200 and plunge back into the depths below $4,000 again. BTC has made 7% on the day and reached this resistance level just passing it to clear $4,300 few hours ago.

AWS Announces Its First Blockchain Offering Through Two New Distributed Ledger Services (Which-50), Rated: AAA

Amazon Web Services has unveiled two new distributed ledger services one blockchain-based and the other a fully-managed ledger database.

The blockchain service, Amazon Managed Blockchain is a fully managed service.

The blockchain service and the new Quantum Ledger Database (QLDB) were unveiled at its AWS re:Invent annual user conference.

Amazon Managed Blockchain

Amazon Managed Blockchain supports two popular open source blockchain frameworks, Ethereum and Hyperledger Fabric, and setting up a blockchain network is as easy as a few clicks in the AWS Management Console.

XRP Technical Analysis: Bears to have a strong hold on the cryptocurrency (AMBCrypto), Rated: AAA

At the time of writing, XRP is trading at $0.37 with a market cap of $15.1 billion. Though XRP continues to hold the 2nd position in the market list, it has seen a significant downtrend in the past 24 hours and 7 days statistics with decline rates of 4.3% and 12.2% respectively.

In the 24 hours timeframe, XRP is experiencing a strong downtrend ranging from $0.88 – $0.58 – $0.39 with a resistance set at $0.69. Also, there is an uptrend extending from $0.26 – $0.36 with the support set at $0.26.

XRP 1 day chart
Source: TradingView

Ripple (XRP) Price Climbs Above

Ripple (XRP) Price Climbs Above $0.3600 Support (Cryptoground), Rated: A

.3600 Support (Cryptoground), Rated: A

20 days Simple Moving Average is at 0.45153, showing Sell signal, Ripple is trading below it at $0.3913. 100 days Simple Moving Average is indicating Sell since Ripple is trading at $0.3913, below MAs value of 0.42946. 5 days Simple Moving Average is indicating Buy action with value at 0.38037, Ripple is trading below it at $0.3913.

9 days Hull Moving Average is indicating Buy since Ripple is trading at $0.3913, below MAs value of 0.37271. 10 days Simple Moving Average is at 0.4021, showing Sell signal, Ripple is trading below it at $0.3913. 20 days Exponential Moving Average is indicating Sell since Ripple is trading at $0.3913, below MAs value of 0.43192.

Ripple
Source: Cryptoground

Ripple’s UBRI initiative makes new strides with the University of Austin at Texas (AMBCrypto), Rated: A

Ripple’s University Blockchain Research Initiative [UBRI] has been on a roll with the active partnership of universities like the University of Texas at Austin, who have been trying to push blockchain technology and the concept of cryptocurrencies into the mainstream fore.

Litecoin On Track To Hit $ 35, Will This Recent Rally Stick? (TokenTops), Rated: A

Bitcoin’s younger brother Litecoin has also in the last couple of hours being rallying. At the time of press, the coin is edging closer to hitting $35 and is just shy of $0.80. Following yesterdays dramatic rally, Litecoin surged by 16% and took the $35 position but was unable to break it. The bulls will be retesting this position again and possibly this time it will stick.

Litecoin
Source: TokenTops

Steemit lays off 70% of its staff (Steemit), Rated: A

Given the weakness of the cryptocurrency market, the fiat returns on our automated selling of STEEM diminishing, and the growing costs of running full Steem nodes, we have been forced to layoff close to 70% of the team. The remainder of the team is staying on to focus primarily on reducing the costs of the infrastructure running steemit.com and our public APIs, and ensuring that the community can remain informed of developments.

STEEM RISES IN SPITE OF MASS WORKER LAYOFFS (ICO Examiner), Rated: A

Steem and Steem Dollars, the currencies used to power popular blogging and social networking site Steemit, saw modest gains yesterday despite the company announcing a significant reduction in its staff levels.

Steem
Source: CoinMarketCap
Steem Dollars
Source: CoinMarketCap

Bitski Launches User-Friendly Crypto Wallet SDK to Compete With MetaMask (SludgeFeed), Rated: A

Bitski, a hosted wallet SDK for apps using the blockchain, has officially opened its beta this week, enabling developers to begin integrating the single sign-on cryptocurrency wallets directly into their apps.

According to Bitski’s website, wallet users are able to access the same wallet from any browser or device, similar to MetaMask. Additionally, all Bitski private keys are stored on enterprise-grade Hardware Security Modules (HSMs) and hosted wallets can link directly to decentralized applications, blockchain games and more.

Supposed cryptocurrency CEO accused of stealing $ 4 million from investors (HousingWire), Rated: A

Jared Rice, the CEO of AriseBank, a company that claimed it raised $600 million in an initial coin offering as part of an effort to “revolutionize banking” using cryptocurrency, is now facing allegations that he stole more than $4 million from the company’s investors.

Rice is already facing charges from the Securities and Exchange Commission, which halted the AriseBank scheme back in January.

And now, Rice is facing new charges brought by the U.S. Attorney’s Office.

Dallas CEO Arrested In Cryptocurrency Scheme (CBS Local), Rated: B

The CEO of Dallas-based AriseBank was arrested Wednesday by the FBI in a cryptocurrency scheme that tricked hundreds of investors out of more than $4 million, according to a federal prosecutor.

When the virtual currency markets were hot last year, the boxer Floyd Mayweather Jr. and the music producer and rapper Khaled Khaled, known as DJ Khaled, were getting paid to promote new digital tokens.

On Thursday, regulators announced that Mr. Mayweather and Mr. Khaled will have to give back all the money they received for those promotions and pay additional fines in the latest crackdown on the virtual currency markets.

CFTC Introduces Guideline for Smart Contracts (Live Bitcoin News), Rated: A

A key component of blockchain technology, smart contracts, have caught the eye of LabCFTC, which have subsequently released a guideline for them.

The platform, which is part a part of the U.S. Commodity Futures Trading Commission, was created in May last year to foster responsible FinTech innovation and development in the country. It appears to act as a bridge between these innovators and the CFTC themselves by making the commission more accessible to entrepreneurs while also assisting the commission in understanding the strides that are being made in this field.

smart contracts
Source: LabCFTC

Read the full report here.

Four ICOs Shut Down in Colorado Crackdown (BittPress), Rated: B

In an ongoing  Initial Coin Offering (ICO) crackdown in the United States, the Colorado State Department of Regulatory Agencies (DORA) has ordered the closure of four ICOs.

The four ICOs: Global Pay Net, Cred, CrowdShare Mining and CyberSmart Coin Invest .

US Treasury links crypto addresses to ransomware scam (Coingeek), Rated: B

The U.S. Department of the Treasury has identified two separate wallet addresses linked to the latest Iranian crypto ransomware plot.

The department’s Office of Foreign Assets Control (OFAC) announced that two Iranian citizens, Ali Khorashadizadeh and Mohammad Ghorbaniyan, are to be added to its sanctions list, along with two crypto addresses linked to these individuals.

International

Binance secretly revises its terms of service, blocking access to users from smaller countries (Captain Altcoin), Rated: AAA

Binance, an exchange known for proudly presenting its “exchange the world” slogan on its promotional material, apparently decided it’s time to abandon this principle. According to sources, the exchange started blocking user accounts belonging to people from several countries of the world.

Users from Belarus, Macedonia, Serbia, Bosnia and Herzegovina, Iran, Myanmar, Uganda and other countries received the following e-mail message from Binance in the past couple of days:

“Dear user, due to recent updates to our Terms of Use, we regret to inform you that we are unable to provide our services to you going forward. If you have not read our Terms of Use, we highly recommend you do so. Binance remains extremely thankful for your support.”

Has Ripple (XRP) Permanently Taken Ethereum (ETH)’S Place? (CryptoDaily), Rated: AAA

Ripple (XRP) is the second largest coin by market cap now. It has happened before but it was considered to be temporary. However, this time, Ripple (XRP) and Ethereum (ETH) have a market difference of almost $3 billion. Normally, that would not seem like much in crypto markets, but we have a combined market cap of just over $100 billion. If the circumstances were different, we could have expected Ripple (XRP) to have held on to this position for long, but it seems to have run its course against both Ethereum (ETH) and Bitcoin (BTC). The weekly chart for XRP/ETH shows that Ripple (XRP) is just a heartbeat away from testing the previous ATH against Ethereum (ETH). We can already see a red candle forming after XRP/ETH was rejected at a strong resistance.

Ripple (XRP) is the second largest coin by market cap now. It has happened before but it was considered to be temporary. However, this time, Ripple (XRP) and Ethereum (ETH) have a market difference of almost $3 billion. Normally, that would not seem like much in crypto markets, but we have a combined market cap of just over $100 billion. If the circumstances were different, we could have expected Ripple (XRP) to have held on to this position for long, but it seems to have run its course against both Ethereum (ETH) and Bitcoin (BTC). The weekly chart for XRP/ETH shows that Ripple (XRP) is just a heartbeat away from testing the previous ATH against Ethereum (ETH). We can already see a red candle forming after XRP/ETH was rejected at a strong resistance.
Source: CryptoDaily

Crypto Exchanges Are Recording Impressive Revenues (Bitcoin Magazine), Rated: A

According to a report released by global professional services company Accenture, revenue from cryptocurrency exchanges is now matching that of traditional exchanges. Some of the changes discussed in the document, “Capital Markets Vision 2022,” include the rise and growth of cryptocurrencies, and how blockchain technology could potentially help traditional firms unlock value and add new levels of efficiency to their operations.

The report says that cryptocurrency exchanges and servicing hold a 64 percent pre-tax margin.

Five Elements To Make An ICO Attractive For Venture Capitals (Bitnews Today), Rated: A

1. The Team

It is very important to include the founders, CxOs, Advisors and developers in your project.

2. The Project Idea

The project idea should be very clearly explained and projected in a whitepaper, one pager, website and an investor deck.

3. The Token Economy

Each ICO must provide clear explanation of how blockchain technology will make their project better and that it is actually needed.

4. The Marketing Campaign

Any project without a strong marketing campaign will face one clear destiny, which is failure.

5. The Legal Framework

Missing a fully legally compliant framework for the ICO is surely a deal breaker for all professional investors.

BTL Joins CitizenOS Project With Xinova and Helix Applications Inc. (GlobeNewswire), Rated: B

As described herein, BTL will contribute Version 3 of its Interbit megachain technology platform – which is still being developed and Helix will become the technology and App developer for the Venture. The parties have agreed to use the initial 6 months to evaluate the agreed technology and commercial benchmarks before deciding to form an Equity Joint Venture (as described below).

European Union

Binance Reportedly Closing Down Accounts Across Europe (Bitsonline), Rated: AAA

According to reports from multiple users, Binance, one of the largest and most popular crypto exchanges, is closing down trading accounts in Bosnia and Herzegovina, Serbia, Romania, Moldova, Macedonia, and possibly other countries.

Monero (XMR) Now Supported By Crypto Wallet Giant Ledger (Ethereum World News), Rated: AAA

After months of anticipation, Monero (XMR), best known as this nascent market’s foremost privacy cryptocurrency, has been added to the Ledger Nano S, the brainchild and flagship product of French crypto upstart Ledger.

Ethereum (ETH) Price Analysis: Bullish Continuation Likely (Blockonomi), Rated: AAA

Yesterday, we discussed about a double bottom pattern for Ethereum price near the $102.00 support area. The price formed a solid base and started a bullish wave above the $108.00, $112.00 and $116.00 resistance levels.

Looking at the 30-minute chart of ETH/USD, the pair gained momentum above the $116.00 resistance and broke the $120.00 and $122.0 resistances. The price traded towards the $128.00 level, formed a high at $127.91, and settled above the 25 simple moving average (30-min).

Ethereum
Source: Blockonomi

$ 510M In Binance Coin (BNB) Moved For Cents (Ethereum World News), Rated: A

After multi-million dollar transfers of 0x (ZRX), BNT, WTC, Whale Alert reported that 98,776,172 Binance Coin (BNB), nearly all of the asset’s circulating supply, was transferred out of Binance to an “unknown wallet.”

This jaw-dropping amount of BNB, which amounts to a U.S. dollar value of $512 million, was moved for $0.03 in gas fees on the Ethereum blockchain, clearly accentuating crypto’s value as a near-instant, borderless, censorship-resistant, permissionless, decentralized, and trustless medium of value.

Developers Rally Around Ethereum 1x, A New Roadmap for Faster Scaling (CoinDesk), Rated: B

An influx of research and development is beginning to form around ethereum 1x, a proposed upgrade that aims to more quickly improve the usability of the world’s third-largest blockchain.

Tezos (XTZ) Just Withdrew $ 10 Million From Its ICO Treasury (SludgeFeed), Rated: A

Tezos (XTZ), a new blockchain platform that features a self-evolving upgrade system, has reportedly withdrawn more than 82,000 ETH (~$10 million) from its ICO treasury reserves this week, making November the largest month of treasury withdrawals in 2018.

Forget about slide-out cameras, this phone has a slide-out crypto wallet (Mashable), Rated: A

Coming from the crypto startup Sirin, the Finney is a  powerful smartphone with a unique design and a very strong focus on security and the blockchain.

The top of the phone slides out to reveal a secondary screen, which is used to access a cryptocurrency wallet. But it’s not just a software trick. According to Sirin, the wallet’s hardware is “fully separate” from the device’s hardware. So, it’s something like having a Ledger or a Trezor permanently attached to your phone.

DEUTSCHE BANK GETS RAIDED AFTER CALLING BITCOIN A RISK FOR CRIMINAL ACTIVITY (Bitcoinist), Rated: A

As Bloomberg reported November 29, an investigation into two employees at the lender has even resulted in its Frankfurt headquarters being searched, with shares falling almost 5 percent.

United Kingdom

Bitcoin and Crypto Wallet Users of Blockchain.com Report Issues with the Platform (Bitcoin Exchange Guide), Rated: AAA

It seems that Blockchain.com is experiencing some issues with the Bitcoin wallet that it has created. According to some reports, there are three common issues with the wallet.

There are some users that are not able to log in to their accounts.

One of these users mentioned that he received a payment and that he couldn’t have access to them.

According to a user in Israel that talked with Financial Magnates, he saw his wallet balance reach zero.

ConsenSys Backs $ 2.1 Million Funding Round for Ethereum Privacy Startup (CoinDesk), Rated: AAA

ConsenSys Labs has led a $2.1 million seed round for AZTEC, a startup that’s working to make ethereum transactions private so financial institutions can comfortably use the second-largest blockchain.

Oil-Trading Blockchain Platform VAKT Launches With Shell, BP as First Users (CoinTelegraph), Rated: A

Post trade management platform VAKT has launched its blockchain-based processing tool to an initial group of crude oil industry clients, a press release reports Nov. 29.

VAKT, which uses JPMorgan’s Quorum blockchain technology to run, has rolled out to BFOET crude participants. The press release reports that energy giants BP, Equinor, Shell, Gunvor and Mercuria are participating as the platform’s first users.

This New $ 55 Cryptocollectible Can Collect Real Dust (Breaker Mag), Rated: A

CryptoKaiju are vinyl toys that look like cryptocurrency-themed monsters (hence the name—“kaiju,” which translates from Japanese as “strange beast”). Creator Oliver Carding has collected designer vinyl toys, like Kaws, since his late teens, and he founded CoinJournal, a blockchain news site, four years ago. His combined interests brought up a new use case for nonfungible ERC-721 tokens, the type that ensure the uniqueness of each CryptoKitty. They could verify the “provenance, authenticity, and scarcity” of vinyl toys, he told BREAKER from his home in Manchester, U.K.

China

Bitcoin Mining Giant Holds Flash Sale to Celebrate Price ‘Bottom’ (CoinDesk), Rated: AAA

As part of its “flash sale” starting today, all of the company’s miners – from the Avalon 921 (20 terahashes per second) to the Avalon 851 (14.5 TH/s) – are all available at $200 each.

Mosher further explained that Canaan was “celebrating” the price of bitcoin leaping over 11 percent yesterday following recent losses.

Why This One Factor Sets China Apart In The Blockchain Frenzy (Forbes), Rated: AAA

“Given the size of our market in China and previous work with the Internet, our tech sector has honed its skills around user acquisition which is now simply being applied the blockchain space. We are focusing specifially on the application  of blockchain, while in the U.S. is more focused more on innovation in this area.”

APAC

Crypto Exchange KuCoin Enables Credit Card Payments For Cryptocurrencies (BlockTribune), Rated: AAA

Singapore-based crypto exchange KuCoin is now allowing its customers to purchase cryptocurrencies using their credit and debit cards.

ASUS wants gamers to mine cryptocurrency when they don’t play games (The Next Web), Rated: A

ASUS is the latest technology giant to hop on the cryptocurrency mining bandwagon. The Taiwanese manufacturer is now encouraging gamers to mine cryptocurrency when they’re not playing games.

Manila Residents Paid in Eth ereum For Cleaning Up Philippines’ Polluted Beaches (CCN), Rated: A

decentralized application (dApp) based on the Ethereum (ETH) network will begin rewarding residents of Manila, the Philippines, with ETH for cleaning up a heavily polluted beach in the capital city of the nation.

6 Crucial Things You Should Know About Country Heights’ Coming ICO (Fintech News), Rated: A

1. The Horse Coin is A Rewards Programme

An initial 300 million Horse Currency will be offered to the public out of the 2 billion.

2. The Company is Going ICO to Cut Costs

2. It’s a Notable Shift from The Global Trend Towards STOs

3. The Project Cost Country Heights RM5 Million (So Far)

4. Investors May Have Given The Nod, but Regulators Not Quite

5. Similar Ventures Exist Overseas

6. Country Heights is Known to Engage in Risky Fundraising Activities

Cryptocurrency Regulations To Be Enforced In Malaysia (CryptoDaily), Rated: B

Lim Guan Eng is the Finance Minister in Malaysia and he has recently announced that a new set of comprehensive regulations will be guiding the activities of crypto exchanges and ICOs which will come into effect during the first quarter of 2019.

Canada

Blockstream takes a dig at Ethereum in new Simplicity release (Coin Rivet), Rated: AAA

Blockstream has launched a new blockchain language called Simplicity. The high-assurance smart contracting language aims to provide flexibility and expressiveness for smart contract computations.

“Ethereum’s EVM still faces these challenges. Recently, an EVM upgrade failed during testing because implementations did not agree on the result of a computation. Funds have been stolen or otherwise unrecoverable due to smart contract logic errors and programs that exceed their resource limits,” it said.

0M in half a year: What Bitcoin loans mean for financial institutions (CoinSmart Email), Rated: B

Cryptocurrency loans are gaining popularity. For starters, one US-based firm has seen $550M in Bitcoin loans pass through its books in just half a year despite the fact that cryptocurrency prices have fallen. There is also serious talk that loans collateralized by cryptocurrency could have major tax advantages and could help avoid a financial crisis.

Justin Hartzman of CoinSmart in response to Canada’s first Bitcoin-backed loan.

MENA

Mums have crypto investment feelings too, eToro research (Coin Rivet), Rated: AAA

42% of mums are currently invested in or would consider crypto investments, according to research by eToro and Mumsnet involving 1,000 women. The top cryptoassets for female investors are XRP, Bitcoin, Ethereum, Litecoin and Stellar.

47% of respondents know a little or a lot about investing, whilst 55% want to take control of their finances and invest on behalf of themselves. The biggest drivers for mums looking at this space are to generate a long-term return (73%) and to save for their children’s future (71%).

Africa

Blockchain can change the face of renewable energy in Africa. Here’s how (WeForum), Rated: AAA

In Africa, the demand for electricity largely exceeds supply. Nigeria’s shortage of 173,000MW (for a nation whose current energy needs is around 180,000MW) gave rise to large-scale imports of noisy and polluting power generating sets.

Most sub-Saharan African countries experience the same. In rural areas in Rwanda, where over 70% of the population lives, only 18% of the population has access to electricity.

Bitcoin fall is history repeating itself, say experts (IT Web), Rated: A

South African crypto-currency enthusiasts believe the spectacular fall in the value of Bitcoin, the most popular digital currency, is history repeating itself, and the price will go up again at any time.

For Petri Redelinghuys, a trader and founder of Herenya Capital Advisors, Bitcoin pulling back 80% is something he expected.

Farzam Ehsani, co-founder and CEO of VALR.com, notes Bitcoin has been very volatile and will remain so for the foreseeable future.

Alan Robertson, YOU# co-founder, says there are a number of theories for the Bitcoin price drop but no one can say for sure.

Gravity Earth is using the blockchain to help refugees gain access to financial services (TechCrunch), Rated: A

At TechCrunch Disrupt Berlin on the Startup Battlefield stage, Gravity Earth gave insight into how blockchain can be used to help refugees gain access to financial services and other resources to raise their standards of living.

The Nairobi-based startup was founded by Johannes Ebert, Laurent Salat and Paul Langlois-Meurinne.

Authors:

George Popescu
George Popescu
Allen Taylor
Allen Taylor

About the author

Allen Taylor

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