Cryptocurrencies had a terrible November. Some month has to be the worst month in a while, so why not November? December is starting to look better. There are still reasons to be optimistic about 2019.
Coinbase has been a critical platform for early adoption of cryptocurrencies owing to the easy UI and dedicated sections to teach beginners. Adding to the range of learning and discovery tools, Coinbase is now going to aggregate news articles by third party sources on their mobile app.
In an op-ed on Yahoo! Finance, Alex Gurevich, a professor of Mathematics and an ex-JPMorgan executive, believes Bitcoin is edging closer to becoming digital gold “with every single day it doesn’t die.”
A patent application first submitted by Intel over two years ago was granted at the end of last week. But it may have arrived just a little too late.
Running that through some kind of English translation system, what Intel put forward is, at heart, an idea for a more energy efficient Bitcoin mining system, that also has the advantage of running faster than its current systems. Faster, and more efficient.
Discussing an industry hot topic, Silbert, who owns/manages stakes in this industry’s foremost startups, noted that the Bitcoin Cash debacle, which hasn’t even come to its final head just yet, is a distraction for investors.
Ripple CEO Brad Garlinghouse says he expects banks to start holding crypto assets on behalf of their customers next year.
At the Singapore FinTech Festival 2018, Garlinghouse said regulatory clarity and the opportunity to make money will drive banks and financial institutions to store digital assets like XRP for their customers.
The company still has 55 billion coins, translating to about 60% of the total XRP produced to date, deposited in escrow. Ripple was pre-mined and the creators have only released a portion of the coins to be publicly traded.
There is 38 billion XRP in the hands of investors and Ripple business partners throughout the world.
Bitcoin, as well as smaller cryptocurrencies like XRP and ether, had a terrible November that saw $US70 ($96) billion in value wiped off the market, CNBC reported on Friday.
Bitcoin closed at $US3878 ($5304), well below $US6000 ($8206), which proponents had long insisted was its “floor” but in retrospect appears to have been a magic number. That’s 80 per cent lower than its December 2017 high of $US19,783 ($27,056).
After 11 months of lower lows, Litecoin, Monero, Stellar Lumens and Cardano prices are ripe for recovery mostly thanks to last week’s price stability and the general expectation in the market. Regardless, we shall maintain a bearish stance despite incoming streams of supportive fundamentals changing this position once there are gains above key resistance levels.
This release was well received and LTC/USD is actually trading above $30 and up 15 percent in the last week.
Recently, there was a nice upward move above the $34.00 level in litecoin price against the US dollar. The LTC/USD pair surged above the $35.00 and $36.00 resistance levels, but it failed to hold gains.
Looking at the chart, LTC price traded as high as $36.97 and later declined sharply. It traded below the $34.00 level and the 100 hourly simple moving average. There was even a break below the $32.00 level before buyers appeared near the $31.50 level.
In any possible outcome, Bakkt is always regarded as important when it does anything significant. Now it is beginning to look like the exchange is going to do something huge since Bakkt is going to add Ethereum contracts to its platform when the investment startup is finally launched.
Instead of creating alternative currencies, cryptomining software could be used for a more sinister attack that could steal corporate secrets, according to Troy Kent, a threat researcher at Awake Security. He presented his research at the InfoSecurity North America Conference in New York earlier this month.
Writers, YouTube celebrities, cryptocurrency review platforms, publications, and many more individuals and organizations could be targeted by the SEC if there’s sufficient evidence to prove that an individual or an organization received compensation from ICO organizers to promote a token sale, without disclosing the amount received from an ICO project to the target audience.
“Any celebrity or other individual who promotes a virtual token or coin that is a security must disclose the nature, scope, and amount of compensation received in exchange for the promotion,” the SEC said last year, emphasizing that the failure to disclose compensation is considered a fraudulent activity.
GoChain (GO) traded down -2.47% against US dollar in the last 24 hours time period closing 16:30 on December 2nd EST. GoChain currently has a cap of $23,678,924 and its twenty four hour trading volume is approximately $862,174. Over the seven day period, GoChain is 11.28% against the US dollar with a movement of 1.43% inside the past 60 minutes.
Along with the other members of the Synaptic Health Alliance group—Humana, Multiplan, UnitedHealth Group’s Optum, UnitedHealthcare and Quest Diagnostics—they will try to figure out how to use blockchain to improve data quality and lower administrative costs.
There has been a marginal recovery from yesterday’s market dump this Sunday and things did not fall off the cliff again as we have seen in recent weeks. Total market capitalization has recovered to climb back to around $135 billion at the time of writing.
Altcoins are mostly green this Sunday as Bitcoin SV seems to be making the most progress in the top ten at the moment adding over 9% on the day taking it back to $100. Cardano has also recovered well with a 7% gain and the rest are putting 3 – 5 percent back on today.
Crypto markets have made about 4.5% since the same time yesterday bringing total market cap to $135 billion. Trade volume has stabilized at around $15 billion and markets have made over 17% since their lows last weekend. Last Sunday was the lowest point of 2018 when total market cap dropped to $115 billion.
Huobi, one of the largest cryptocurrency exchanges in the world, announced the launch of the Huobi Derivative Market (Huobi DM) exchange.
The platform is currently not available to users from the United States of America, Singapore, Israel, Iraq, Hong Kong (China), Cuba, Iran, North Korea, Sudan, Malaysia, Syria, Samoa Eastern, Puerto Rico, Guam, Bangladesh, Ecuador, and Kyrgyzstan.
Around the same time, HBUS, the exclusive U.S. strategic partner of Huobi, became the first cryptocurrency exchange to launch a billboard campaign in the United States.
Matthew De Silva, a cryptocurrency journalist at Quartz, made his price prediction known in September after prices crashed to the $179 mark.
Joseph Raczynski: Ethereum will hit $1,200 by Q4 2019
Joseph Raczynski, the founder of JoeTechnologist.com and a key blockchain influencer with a Twitter following of 153K, expects the value of Ethereum to hit $1,200 by Q4 2019. He attributed his projection to the popularity of Ethereum’s proof of concept among institutional investors.
Tom Lee: $1900 by the end of 2019
‘There are no drivers to push ETH to 40% above its prior all-time high’, he added.
Nigel Green: $2500 with a further increase in 2019 and 2020
The CEO of the deVere Group, believes the price of Ethereum will increase significantly and could hit $2,500 with a further increase by 2019 and 2020.
Brian Schuster: $10,000 or even $100,000, if it replaces gold as a store of value.
The head of Founder Solutions at Ark Capital LLC presents an extreme bullish picture of Ethereum reaching $100,000 per coin.
Ian McLeod: Ethereum will be on an overall upward trajectory throughout 2019
‘I maintain that we can expect Ethereum to hit $500 by the end of 2018 and go on an overall upward trajectory throughout 2019.’
As reported by Ethereum World News, in the past three to four months alone, the world’s five foremost technology stocks have lost a collective $822 billion, evidently instilling boatloads of fear in the hearts of investors, both in the crypto and stock markets.
Speaking on-stage at the most recent installment of Blockshow, held in Singapore, Lee made similar claims, noting that Bitcoin is “bent, not broken,” before adding that there is still “enviable” profitability in the cryptosphere, estimating that BitMEX is poised to make $1.2 billion in fiscal 2018.
That same day, fellow New York blockchain startup Paxos Trust Company announced that it had also received NYDFS approval to launch a stablecoin, called the Paxos Standard (PAX). Unsurprisingly, PAX received far less initial attention than Gemini Dollar(GUSD), given that the latter had the benefit of a Winklevoss media blitz while the former — though a significant player in the professional crypto trading market — was not well-known among retail investors.
For average people, Bitcoin represents a new currency that is based on a decentralized blockchain-powered design. The entire concept bases its foundation on airtight mathematics, whereby real-time updates to a single decentralized ledger ensure a temper-proof medium of exchange.
Faced with depleted reserves and having been hit with sanctions aimed at its illegal nuclear weapons program, North Korean hackers have a new strategy for growing the country’s cash reserves — steal crypto holdings from individual investors.
To steal their victims’ digital assets, hackers send unsuspecting victims an email with infected file attachments. Once the victim downloads the files, a malicious script infects the computer and takes total control of the machine. From then on, they can do serious damage.
GuildOne will be providing the technologies to the petroleum companies in partnership with enterprise blockchain software firm R3, with which it has been working to revolutionize the petroleum industry with the pioneering innovation of its own (GuildOne’s) Energy Block Exchange (EBX) blockchain business network utilizing the blockchain platform of R3, Corda, on AWS.
Ethereum (ETH), after its launch, was considered as a game changer for digital currencies and blockchain. However, the blockchain is currently undergoing scalability and congestion issues. Ethereum has been encountering this congestion issue for quite some time. But the issue doesn’t seem to be going anywhere as the congestion keeps increasing by the day.
According to Etherscan, the pending transactions have surpassed the 90,000 mark.
The market for cryptocurrency has seen better times as Bitcoin struggles to stay above $4,000 and crypto hedge funds shut up shop. But one corner of the market seems to be weathering the downturn just fine: Ledger, which makes crypto hardware wallets, says sales are just fine.
“I’m happy to report Black Friday ’18 was almost on par with Black Friday ’17,” Pascal Gauthier, President of hardware maker Ledger, told Jen Wieczner when he dropped by our Balancing the Ledger studio this week.
After a long successive of featuring lower lows in the past weeks, BNB/USD began witnessing choppy market movements on November 21, while the crypto made a feeble stride at around $6 mark. The range boundaries are being depicted by the $6 and the $4 marks on the chart.
Distribution territories: $10, $11, $12
Accumulation territories: $3, $2, $1
Businesses in Italy using cryptocurrency may no longer enjoy the mainstream benefits of decentralized economy. According to the reports, companies based on the crypto mechanism or employing cryptocurrency will not be eligible to register their business with Business Register.
Internet payment system, Skrill recently announced that they have added XRP to their list of supported cryptocurrencies. As reported by the company, they made the decision of adding XRP based on list of requests from the holders of the second largest cryptocurrency in the market.
Calastone, the operator of a London-based transaction network for investment funds, is looking to move its entire settlements system to a blockchain by May 2019.
According to a Financial Times report on Sunday, Calastone, which provides services to over 1,700 firms including JP Morgan Asset Management, estimates the plan could help the industry save up to £3.4 billion (or $4.3 billion) in fund distribution costs, excluding the U.S. market.
Currently, Calastone’s processes for settling funds are still manual, including over 9 million messages and transactions worth about $217 billion a month between buyers, sellers and distributors, according to the firm’s website.
It seems that individuals that get paid in Euros can now receive their payments in cryptocurrency. The Blockchain Payroll Platform WorkChain.io partnered with the tokenization platform STASIS in order to enable euro-backed crypto paychecks for European Union (EU) users. The payments could be processed using the EURS stablecoin.
NEO Global Development (NGD) issued its November monthly report on December 1st, 2018. The NGD monthly report is designed to keep the broader NEO community up-to-date about the NEO blockchain’s development, progress, and community events.
Ring miners process orders in exchange for either a margin split (explained below) or payment in LRC, the Loopring Protocol Cryptocurrency token for Ethereum, LRQ for Qtum, or LRN for NEO. As of December 1, 2018, the Loopring protocol has been deployed on Ethereum, NEO, and Qtum.
Ping An, the Chinese insurance giant that built the eTradeConnect blockchain, is modifying the platform to give its 12 participating banks more control over customer relationships.
Frank Lu, head of the blockchain division of OneConnect, PingAn’s fintech arm, and the architect of eTradeConnect, told CoinDesk his team is revising the way businesses submit their data for trade financing from the network. Instead of going to a central portal, they will have to sign up through individual banks.
Tencent’s Security Joint Lab has notified users of the Neo (NEO) blockchain of a potential bug that allows hackers to remotely steal tokens native to the blockchain. The vulnerability affects the popular Gas (GAS) tokens. The team notified the crypto and blockchain community via the popular micro-blogging website of Weibo.
They advised the following actions to prevent the loss of tokens:
Upgrade to the highest version of NEO-CLI client program
Avoid using remote RPC function, modify the address of BindAddress in the configuration file to 127.0.0.1
If you have to use remote RPC functions, change the RPC port number, enable Https-based port of JSON-RPC-based interface, or set up a firewall, etc. to protect the security node
Gold Coast based company Blockchain Collective have successfully had their Advanced Diploma of Applied Blockchain accredited by the Australian Skills Quality Authority (ASQA), making them the first to offer this qualification.
The Monetary Authority of Singapore (MAS) has updated its guide for businesses that want to raise capital via initial coin offerings (ICOs).
It elaborates the Singapore central bank’s stance on how certain intermediaries should observe its instructions based on Anti-Money Laundering (AML) and Countering Financing of Terrorism (CFT) policies.
On Friday (30 November 2018), at the CryptoCompare & MJAC London Blockchain Summit, Dan Moran, Ripple’s Head of Regulatory Relations for Europe spoke not about Ripple’s interest in Asia, he showed the other side of the coin. For Ripple it is now increasingly evident that the Asian market is interested in technological solutions such as those provided by them:
“It’s very early days, but we see the biggest appetite in Asian markets, in terms of demand, so remittance demand, whether it is corridors that are under-served because correspondence banking is too costly… So, we feel that there is demand.”
Riccardo Spagni aka fluffypony, a core developer of Monero spoke about Bitcoin’s bear market recovery and its volatility, during an interview with Tech Central. He also spoke about the use case of Bitcoin [BTC].
He went on to say:
“It’s very good time and previous movements have been much faster. You know, some of them have been two months. So, you know, three and half years has been like the longest bear market that we’ve had and I think those periods will probably start to get longer and longer as you know as the thing the movement shifts”
Today, we are thrilled to announce that Testnet v3, codenamed “Mao Shan Wang” after another one of our favorite durian breeds, is now live. This is a major technical milestone — as far as we know, this is the first fully-fledged testnet in the world to implement network, transaction, and smart contract sharding. This specific testnet has addressed some of the security issues discovered by our security auditors, and added required safety checks and extra enforcement mechanisms to improve the stability of the system.
Venezuela’s President Nicolas Maduro has announced that the price of the petro, his country’s national “cryptocurrency,” has been increased from 3,600 sovereign bolivars to 9,000. While the wallet for the petro is still unavailable, the Venezuelan government continues to sell the digital currency and issue certificates of purchase to buyers.
MOBILE money platform operator EcoCash has introduced a foreign currency account (FCA) wallet facility to promote preservation of value in line with Reserve Bank of Zimbabwe’s measures to ring fence forex earnings.