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Monday December 17 2018, Daily News Digest

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United States

Coinbase Adds Customizable Crypto Watchlists (Coin Idol), Rated:  AAA

Coinbase, the crypto exchange bull, rolled out a new feature on Thursday, December 13, 2018, making its online trading platform more ergonomic. It has officially issued a watchlist feature to its online user interface. The notice is part of Coinbase’s 12-day announcements event.

The watchlist feature enables users to maximumly customize their Coinbase dashboards.

Coinbase and the Awkwardness of Growing Up (CoinDesk), Rated: A

Coinbase’s recent announcement that it was considering another 31 tokens for listing was greeted with a potent mix of vindication, disappointment, query and speculation.

The exchange’s decisions generally spark a heated discussion, but this one seemed particularly controversial, with detractors and supporters taking totally different interpretations of the move.

Bitcoin – Respite from the Crypto Storm or Finally the Floor? (Yahoo! Finance), Rated: AAA

Bitcoin closed out the day flat on Saturday, with just a 0.05% rise, following Friday’s 2.16% fall, to end the day at $3,283.3.

It was a choppy day for Bitcoin, with an early move to a morning intraday high $3,324.2 coming up short of the day’s first major resistance level at $3,376.6 before hitting reverse.

Bitcoin slid through the late morning and early afternoon to an intraday low and new swing lo $3,215.2, coming within range of the first major support level at $3,205.4 before recovering to an afternoon high $3,313.7.

Source: Yahoo! Finance

Bitcoin Bulls Are Still Upbeat On Year Anniversary Of All-Time High (Forbes), Rated: A

Bitcoin may not be dead, but it’s certainly fallen a long way from the heady highs of late 2017. One year ago today the bitcoin price peaked at a little over $19,000, ending a year of bitcoin and cryptocurrency mania that saw billions of dollars poured into ambitious initial coin offerings (ICOs) and bold predictions that “this time it’s different.”

Circle CEO: Bitcoin Price Will Boom In Years To Come (NewsBTC), Rated: A

As the Bitcoin price has fallen throughout 2018, investors have sought solace in chaotic waters. Case in point, consumers en-masse have latched onto institutional forays, promising crypto-centric platforms, and ambitious price predictions from this industry’s finest in a bid to stay afloat. Investors’ thirst for the latter was quenched on Friday, as Jeremy Allaire, CEO of the Boston-based fintech upstart Circle, sat down with CNBC’s Squawk Box.

Famed crypto millionaire says Bitcoin is dead (Techspot), Rated: B

At the start of this year, 19-year-old Erik Finman hit the headlines as one of the world’s youngest Bitcoin millionaires. A fact he liked to show off on an Instagram feed packed with photos of private jets and beds covered in cash.

In an interview with MarketWatch, Finman said the crypto that made him rich is in its death throes. “Bitcoin is dead, it’s too fragmented, there’s tons of infighting I just don’t think it will last.”

Litecoin [LTC] Differentiates itself from Bitcoin: Eye-opening Gain? (Ethereum Wordd News), Rate: AAA

Following Coingate’s twitter announcement on LightningNetwork being ready for deployment and set to be soon live on CoinGate, the crypto-silver jumped upwards gaining double digits in a matter of hours. Per time of writing the pair, LTC/USD is changing hands at $25.81 with 8.21% positive movement in the last 24-hours.


Source: coinmarketcap

Litecoin bounces above 10.5% in one hour; Lightning Network to credit? (AMBCrypto), Ratd: A

The cryptocurrency market has turned green is moving toward a hopeful bull-run wherein Litecoin [LTC], the seventh largest coin by market cap has finally gained momentum and broke out above 10.5% today. At the time of writing, the coin was trading at a relatively bullish price of $26.06 with a market cap of $1.55 billion. The 24-hour trading volume was recorded at $353.4.

After breaching multiple supports in the 1-hour candlestick, the support level finally settled at $22.4, post which the coin started to pump up with all enthusiasm.

Source: tradingview

Winklevoss Twins Say They’re ‘Totally at Home’ in this Market Climate (CCN), Rated: A

Cameron and Tyler Winklevoss, early bitcoin investors and founders of the Gemini crypto exchange, don’t seem to be deterred by the current market slump. In fact, speaking to Bloomberg recently, Tyler Winklevoss said, “We’re totally at home in winter.”

CoinDesk Advisor: Crypto, Bitcoin (BTC) Valuation Models Are Wrong (Ethereum World News), Rated: A

A Cheddar anchor, staving away from asking the outlet’s normal round of questions, asked Casey if the way that crypto investors value digital assets, such as Bitcoin (BTC) or Ethereum (ETH), are putting cryptocurrencies into a crisis. Responding passionately, the crypto proponent, who regularly contributes to CoinDesk, noted that this market’s valuation models are “all just a bit backward.”

Elaborating on what he meant, Casey noted that cryptocurrencies and related technologies are seen as a way to disintermediate ecosystems and to curb centralized entities. But now, the way that we value these blockchain-based assets is quite reminiscent of how traditional markets are run — a big no-no for diehard decentralists.

Bear Market Forces Substratum (SUB) ICO to Day Trade its ETH Holdings (Blockchain Reporter), Rated: A

Substratum has announced an update to their token swap and smart contracts. Wedged within the announcement was a quick notification that the team will be day trading their ICO funds to try and mitigate potential losses occasioned by the pinch of the ongoing crypto winter.

Seed CX Exchange To Forbid Nearly 40 Employees In New Crypto Trading Ban (Bitcoin Exchange Guide), Rated: A

Some companies go as far as barring their employees to trade cryptos because they might affect the market and that is just what SeedCX, a crypto exchange, has done. Coindesk reported on this story this week.

In the article, a man called Alex Wachli is featured. He traded cryptos since 2014 but, to enter the company, the software engineer had to give up trading. Seed CX does not let any of its roughly 40 employees trade. Walchli had to lock his crypto funds and give wallet addresses to the company’s compliance team in order for them to monitor their holdings.

Vlad Nistor – CEO of Bitcoin (BTC) Trading Platform – Helped Launder Stolen Funds (Smarterum), Rated: A

According to the report on the newspaper, the CEO of CoinFlux was part of a group that carried out phishing attacks on the US soil when the trading platform was just getting started between 2014 and 2015. So far, fourteen Romanians have been arrested by federal authorities out of Kentucky.

CFTC Seeks Public Comments on Crypto-asset Mechanics and Markets (CFTC), Rated: B

The Commodity Futures Trading Commission (CFTC) is seeking public comment and feedback in order to better inform the Commission’s understanding of the technology, mechanics, and markets for virtual currencies beyond Bitcoin, namely Ether and its use on the Ethereum Network. 

Kevin Murcko, CEO at tokenised crypto exchange CoinMetro, comments:

“The US Commodity Futures Trading Commission’s (CFTC) consultation into Ethereum comes as no surprise as the SEC already ruled that Bitcoin and Ether are not securities earlier this year. It was only a matter of time before the CFTC made its own judgement as it has jurisdiction over both futures and commodities – the only two options under which crypto assets, not akin to securities, can be classified.”

International

Litecoin, Bitcoin SV and EOS biggest winners among top-10 (AMBCrypto), Rated: AAA

The last 24 hours have been a reprieve for the cryptocurrency market as a majority the coins saw a significant hike in prices. The top-10 cryptocurrency club witnessed every single member getting on the bullish slide and protecting their price supports. The biggest gainers in the top-10 club were Litecoin [LTC], Bitcoin SV [BSV] and EOS.

At the time of writing, Litecoin was growing by a massive 11.45% with a total market cap of $1.555 billion. The cryptocurrency was trading for $26.09 with a 24-hour volume of $367.882 million. 

Source: CoinMarketCap

Next in line was Bitcoin SV, which was on the rise by 11.25% and was trading or $75.85. At the time of writing, it had further increased its bullish environment to trade at a 17% hike. 

Bitcoin SV
Source: AMBCrypto

The third-biggest gainer in the cryptocurrency chart was EOS, with the sixth-largest cryptocurrency gaining by 6.22%. EOS was trading for $1.94 with a total market cap of $1.756 billion and a 24-hour volume of $594.857 million.

Source: CoinMarketCap

Top 5 Crypto Performers Overview: EOS, Binance Coin, TRON, Litecoin, Bitcoin (CoinTelegraph), Rated: A

The major trend on the EOS/USD pair is down. The price has been making new year-to-date lows since the breaking down of $4.493.

Source: CoinTelegraph

TRON (TRX) launched its TRC20 exchange this week. With the exchange going live, it is expected that the liquidity of the TRON network will increase. The 24-hour transaction amount for DApps increased 48 percent compared to the previous week. Similarly, the 24-hour trading volume increased 151 percent over the last week.  

Source: CoinTelegraph

The LTC/USD pair has been in a strong downtrend since peaking out at $370 in December of last year. Though there was an attempt to form a base at $47.246, the bears broke down on Nov. 13 and resumed the downtrend. There was another attempt to defend the support at $29.349, but it did not hold even for a week.

Currently, the downtrend has resumed and the next support on the downside is the $19–$21 zone. If this also fails to hold, the fall can extend to $15. The RSI has reached oversold levels, last seen in the beginning of 2015.

Report suggests 87% of the trading volumes at top 25 cryptocurrency exchanges could be fake (Crypto News Review), Rated: AAA

report published by the Blockchain Transparency Institute claims over 87% of the transactions of the world’s top 25 crypto exchanges could be false.And what’s more, most exchanges have turned the process into a money-making habit, the report continues.

Binance and Bitfinex Are the Only Exchanges Not Falsifying Trade Volume Data (Smarterum), Rated: A

This report means that only two out of the twenty-five top virtual currency exchanges have actually been reporting accurate trade volume data. Providing false data to the public amounts to a difficult situation for the exchanges involved.

Scalability On The Blockchain – Is There A Solution? (Forbes), Rated: AAA

Enterprises want blockchain. In fact, 84% of executives say their companies are actively involved in this emerging technology. However, enterprises have not yet been able to efficiently implement it. The main issue seems to be scalability, according to reports, 40% of executives see scalability in blockchain technologies as a major issue for enterprise implementation. Conversely, only 7% of blockchain technology companies see this as a major issue and they seem to be out of touch with the perceived needs of enterprises. With this considered, it’s not much of a surprise that around 60% of executives said implementing blockchain was more difficult than they had originally imagined.

Tether Tops Stellar Taking Fourth Spot (NewsBTC), Rated: A

The top twenty is nearly all red. Only one altcoin is making moves at the moment and that is Maker up 12% on the day. The push has taken MKR above $385 and it is one of the top performing altcoins today. Everything else in this section is in the red losing a percent or two on the day.

A Look at Some of 2018’s Most Popular Cryptocurrency Traders (Bitcoin.com), Rated: A

The first analyst on our list is the Canadian cryptocurrency trader Philakone (@Philakonecrypto). He’s been tweeting his analysis of various digital currency markets for quite some time and has amassed over 107,000 followers on Twitter. 

Source: Bitcoin.com

Another trader people follow is Nick Core (@Crypto_core), a day trader and statistician who routinely explains his bitcoin market outlook on Twitter, Youtube, and Tradingview. The trader has 33,000 followers on Twitter and almost 7,000 following his Tradingview outlooks.

One interesting and popular strategist on the website Tradingview has over 44,000 followers and goes by the name Magic Poop Cannon. The trader’s 500+ written ideas concerning the price of BTC and other market trends have received close to 1 million views to date.

Waves Surges into Top 20 Coins as Wider Crypto Market Stumbles (CCN), Rated: A

Since the end of November, the Waves coin (WAVES) has bucked a market trend and risen in price by over 150%. The cryptocurrency has not only risen to a price, at the time of writing, of $2.49 per coin but as bitcoin price falls, WAVES value against bitcoin (BTC) is also growing.

Source: CCN

Bitpay CEO Stephen Pair Believes Mass Crypto Adoption is 5 Years Away (CCN), Rated: A

Bitpay CEO Stephan Pair has gone on record to say that he believes that mass crypto adoption is only 3 to 5 years away. He talked about the possibility of wider adoption when recently chatting to the American news network CNBC.

Inside The Controversial Stablecoin Craze (Forbes), Rated: A

Without a doubt, much of 2018 has been a roller coaster year for cryptocurrency with the last several months actually resembling the forceful, downward trajectory of the log flume rides found at most amusement parks. Yet during this turmoil, there’s been a rising fervor around stablecoins, the hybrid digital currency touted as crypto’s more sensible, clean-cut brother that offers all the promise of an envisioned new digital currency world backed by the reliability of the old school tradition. But what’s behind such a trend, and could it truly have legs for 2019 and beyond?

Nexo crypto lending platform adds TrueUSD (Cryptomorrow.com), Rated: B

Customers of Nexo, which is a cryptocurrency lending platform, can now use TrueUSD stablecoin as collateral to get an instant cryptocurrency loan on the platform as well as a repayment option for the loans.

NEXT Biometrics and IOTA Foundation accelerate IoT identity management solution (NEXT Biometrics), Rated: B

NEXT Biometrics (Oslo Bors: NEXT) today announced a global collaboration with IOTA Foundation, a non-profit foundation focused on distributed ledger technology (DLT) and permission-less ecosystem development. NEXT and the IOTA Foundation will work together to develop Internet of Things (IoT) solutions integrating NEXT’s leading fingerprint sensor technology and IOTA Foundation’s open-source protocol.

European Union

Ethereum Network Hits Important Milestone And Surpasses 50 Million Addresses (Crypto Daily Gazette), Rated: AAA

The latest data reported by The Block from Etherescan.io, the number of unique Ethereum addresses recently hit a new milestone and surpasses a key figure – 50 million.

Opera Browser Launches Built-in Crypto Wallet, on Google Play Store (Coin Idol), Rated: AAA

Opera browser has announced officially that is soon releasing a “Web 3-ready” Android browser that has an in-built crypto wallet.

Switzerland’s Crypto Valley dangles 0,000 prize for blockchain in finance contest (Finextra), Rated: A

Several universities and industry partners such as LGT, Six Group and Swiss Fintech Innovations partnered with Crypto Valley-based companies inacta and Lakeside Partners. 

After the success of last year’s Blockchain Competition for Insurance with over 100 applicants from over 30 countries, the next competition is open to startups working on blockchain based projects disrupting the financial industry. Industry leaders will act as jurors and advisors for the startups competing. The winners will be chosen 7 November 2018 at the Theater Casino in Zug:

  • 1st prize: $100,000 funding in cash (no strings attached), 1 year office space in the Crypto Valley Labs in Zug, 1 year of comprehensive, hands-on coaching from experienced entrepreneurs, industry experts, C-level executives and investors. 
  • 2nd prize: 1 year in an inspiring workplace at the open space in the Crypto Valley Labs in Zug, 1 year of hands-on coaching from experienced entrepreneurs, industry experts, C-level executives and investors. 
  • 3rd prize: 1 year in an inspiring workplace at the open space in the Crypto Valley Labs in Zug, fundamental insights gleaned from workshops with experienced entrepreneurs, industry experts, C-level executives and investors. 

Switzerland to Regulate Blockchain Within Existing Financial Laws (CoinDesk), Rated: A

The government of Switzerland wants to accommodate the blockchain sector within its existing financial laws.

The country’s Federal Council issued a report on Friday, providing a legal framework for distributed ledger technology (DLT), or blockchain,, stating that Switzerland’s existing rules are well suited to dealing with such new technologies, but there is still a need for some amendments.

United Kingdom

University Of Oxford Asks Can Crypto Transactions Become Immutable But Not Irreparable? (Bitcoin Exchange Guide), Rated: A

The University of Oxford of Law has recently released a blog article in which it affirms that there, in fact, ways that people could potentially recover their funds by legal ways whenever they were hacked or stolen using cryptos.

China

China Advancing Possible Surveillance Cryptocurrency (Crowdfund Insider), Rated: AAA

The Chinese government is looking to create a cryptocurrency that will allow it to better monitor the financial conduct of citizens and institutions, Bloombergreports.

Hong Kong Bitcoin Wiz Throws Millions From Rooftops (NewsBTC), Rated: A

On Saturday evening, reports arose that a hooded man was spotted around Fuk Wa Street and Sham Shui Po, one of Hong Kong’s most underprivileged neighborhoods. The man, who was revealed to be serial cryptocurrency entrepreneur Wong Ching-kit, purportedly began to throw millions of Hong Kongdollars (HKD) onto the crowd below. Although police reportedly advised the public not to pick up the cash, the allure of no strings attached money overcame the authorities’ cries, as members of the public scrambled to obtain the seemingly endless stream of fiat.

Hong Kong Regulators Set to Tighten Cryptocurrency Laws (CCN), Rated: B

The Hong Kong Securities and Exchanges Commission (SFC) is looking to tighten the current cryptocurrency laws as concerns over crypto-crime and money laundering heighten across Southeast Asia.

Asia

Digix Stablecoin Seeks to Put Gold on the [Ethereum] Blockchain (CCN), Rated: A

Digix takes a different approach, tying the value of its DGX token to 1 gram of gold. A small outfit run out of Singapore, Digix Global says that it will redeem tokens for physical bars of gold that they store in their vault. Redemption must take place in person, primarily for security but also due to the high cost of internationally shipping gold safely. 

Authors:

George Popescu
George Popescu
Allen Taylor
Allen Taylor

About the author

Allen Taylor

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