Daily News Digest Featured News

Monday April 15 2019, Weekly News Digest

wash trading
Source: Captain Altcoin, Messari

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United States

International

European Union

Southeast Asia

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News Summary

United States

Departure of Senior Executives Continue To Hurt Coinbase, as Vice President of International Business Separates (CryptoNewsZ), Rated: A

All efforts of preventing senior executives from parting ways fail, as another high profile employee is leaving Coinbase. Dan Romero, Vice President of Coinbase’s International Business, has announced his plans to quit the famous crypto exchange.

The Bigger Picture Behind Bitcoin’s Latest Price Rebound (CoinDesk), Rated: AAA

Bitcoin’s out-of-the-blue bounce over the $5,000 mark this month has prompted some predictable pontificating from price-obsessed people within and outside the cryptocurrency community.

A point that’s lost on critics like Novak is that the longer bitcoin simply survives – in the face of the $90 billion valuation that stands as a de facto bounty for hackers to try to take it down, compromise its security or corrupt it – the more its overall value is confirmed.

One Bitcoin Could Exceed $ 1 Million in 7 -10 Years: PayPal Director (CCN), Rated: A

In an essay published on Kana and Katana last month, a research platform run by Ikigai Asset Management, Xapo CEO Wences Casares said that bitcoin may be worth more than $1 million in 7 to 10 years.

Google trends reveals people only want to buy Bitcoin after the price rises (Chepicap), Rated: A

Data from Google Trends has revealed that the search term “buy bitcoin” has been increasing over the last month parallel to the increase in Bitcoin’s price.

As the chart reveals, interest in Bitcoin packed around April 3, hitting a maximum score of 100 on Google Trends.

Google Trends

At the same time, Bitcoin was trading at around $5,300, a considerable increase of over 26% compared to two days before when it was trading at $4,200.

Ripple Plagued by Fake Trades – How Crypto Purge Vindicates Bitcoin (CCN), Rated: AAA

Ripple (XRP), the third-largest cryptocurrency with a $13.7 billion market cap, allegedly boasts $1.2 billion in 24-hour trading volume as of the time of writing, according to widely-used data aggregator CoinMarketCap. However, OpenMarketCap – which only aggregates data from exchanges that don’t allow washing trading and other shady practices – puts XRP turnover at just $81.7 million. That’s a shockingly illiquid figure and suggests that up to 93% of reported ripple volume is fake.

Ripple

Apart from ripple, other top coins plagued by fake volumes include:

  • Litecoin – $106 million real volume versus $2.9 billion reported
  • EOS – $121 million real volume versus $2.9 billion reported
  • Bitcoin Cash – $146 million real volume versus $1.6 billion reported

XRP Signaling Bullish Break Above

XRP Signaling Bullish Break Above $0.3500 (Live Bitcoin News), Rated: A

.3500 (Live Bitcoin News), Rated: A

This past week, we saw an extended correction in bitcoinEthereumbitcoin cashADA and ripple against the US Dollar. Earlier, the XRP/USD pair formed a top near the $0.3800 resistance and declined sharply. There was a break below the $0.3550 and $0.3500 support levels. It pushed the price back in a bearish zone, with a break below the $0.3400 support area. The price even broke the 76.4% Fib retracement level of the last upward move from the $0.3250 swing low to $0.3850 high.

Bitstamp Receives the Bitlicense. (Crypto Crimson), Rated: A

The New York State Department of Financial Services (NYDFS) recently issued a license that allows Bitstamp to offer a range of services based on Ripple technology.

Litecoin (LTC) Price Analysis: Next Bullish Leg Underway (Ethereum World News), Rated: AAA

This past week, we saw a downside correction in bitcoin, EthereumEOSripple, litecoin and other altcoins against the US dollar. The LTC/USD pair declined below the $85.00 and $80.00 support levels before buyers appeared near the $75.00-76.00 support area.

Looking at the 4-hour chart, LTC price traded as low as $75.60 and recently recovered above the $77.50 resistance area. There was a break above the 23.6% Fib retracement level of the last drop from the $92.49 high to $75.60 low.

Litecoin
Source: Ethereum World News

Litecoin [LTC] halving would be more bullish for Bitcoin [BTC] than LTC, says Tone Vays (AMBCrypto), Rated: A

Litecoin [LTC], the silver counterpart of Bitcoin [BTC] is considered as one of the most dominant altcoins. The coin is scheduled for a block reward halving on August 6, 2019.

Tone Vays stated that Litecoin [LTC] had more competitors in the market compared to the dominant Bitcoin [BTC]. He mentioned that Litecoin halving should remind the industry that there was no value to mine Litecoin [LTC] in the current market.

He added that the bullish trend after the Litecoin [LTC] halving would not drive Bitcoin’s [BTC] price valuation through any major highs, but would still play a crucial role.

$ 1 Billion Crypto Hedge Fund Crashed 40% – But Still Beat Bitcoin (CCN), Rated: A

Crypto hedge fund traders were not immune to bitcoin’s downright frigid bear market. Just look at Polychain Capital, whose assets under management (AUM) fell to $591.5 million at year-end 2018, according to a regulatory filing cited in the Wall Street Journal.

The San Francisco-based crypto hedge fund boasted $1 billion in assets as of February 2018, which in addition to cryptocurrency included unspent cash pledged by investors and equity holdings in companies, Fortune reports.

Harvard’s Endowment Fund Invests in Blockstack Tokens, Supports Company as Part of Token Advisory Board (Crowdfund Insider), Rated: A

Harvard University, via their endowment fund, is backing Blockstack’s security token offering.

“In connection with the sale to the QP Fund, we have formed a token advisory board, the LP Advisory Committee, the main purpose of which is to determine whether the above milestones have been met.  The token advisory board consists of seven members. Three of the members, Charlie Saravia, Zavain Dar and Rodolfo Gonzalez are designees of affiliates of the Harvard Management Company, Lux Capital and Foundation Capital, respectively, limited partners of the QP Fund which have purchased an aggregate of 95,833,333 Stacks Tokens; the board also consists of four independent members, Koen Langendoen, Arvind Narayanan, Arianna Simpson and Catherine Tucker.”

Finastra awarded best use of blockchain in Fintech for Fusion LenderComm (Finastra), Rated: A

Finastra has been awarded ‘best use of blockchain’ in Fintech by FinTech Breakthrough for Fusion LenderComm – a platform designed to streamline communication between agent banks and lenders in the syndicated loan market.

Albertsons will use IBM’s blockchain network to trace romaine lettuce supply chain (VentureBeat), Rated: A

Albertsons Companies, one of the largest food and drug retailers in the U.S., is joining the blockchain-based IBM Food Trust network to help keep track of items in the food supply chain such as romaine lettuce.

That’s important, as tainted romaine hospitalized dozens of Americans in late 2018. With the transparent decentralized ledger technology of blockchain, IBM will be able to more precisely track where food originates and goes, from farm to store shelf.

Interview with ButtonWallet, a Telegram-Integrated Crypto Wallet (Blockchain Reporter), Rated: A

Blockchain Reporter recently sat down with the team at ButtonWallet for an interview. For the uninitiated, ButtonWallet is a Telegram based multi-currency wallet. With the ability to hold, send transactions and crypto x crypto exchange, users find Button the Venmo for crypto.

BW:

Button Wallet does not store the private keys of the user. The transaction is sent directly to the node where a pool of people validates the transaction.

There are two features inside BUTTON Wallet that are responsible for decentralization.

The first one is the way how we store private keys. When a user wants to create the wallet they are taken to a browser inside the Telegram Messenger to create private keys on the client side. After that, all the private keys are encrypted by user password and the encrypted data is encoded in the QR Code. No private information including private keys comes to our backend.

The second feature is a Lighty-Sig library that allows sending transactions on the client side. When a user wants to send funds to a friend, they upload their QR Code, enter the password to encrypt private keys, sign transaction and send directly to blockchain public node which has already signed the transaction.

SEC Required Two ETF Funds to Take Blockchain Off Their Tickers (CoinTelegraph), Rated: A

The United States Securities and Exchange Commission (SEC) reportedly required two funds to eliminate the word “blockchain” from their monikers, Bloomberg writes April 12, citing sources familiar with the matter.

The exchange-traded funds (ETFs) of both Amplify and Reality Shares reportedly mentioned blockchain in early filings. Per Bloomberg’s unarmed interlocutors, the two funds were encouraged to change their names at the last minute in 2018.

International

$ 5 Billion Back into Crypto Markets as Bitcoin Cash, Litecoin and Tezos Surge (NewsBTC), Rated: AAA

Monday brings fresh movement to crypto markets and it is upwards following three days of consolidation. A further $5 billion has been added back into crypto assets as the altcoins lead market cap back up towards $180 billion once again.

Ethereum is moving a little more as it approaches $170 again. The three percent gain has shifted volume levels back over $5 billion and ETH is back over the 100 hour moving average.

The top ten is all green at the moment but two altcoins have surged surging during Asian trading today. Bitcoin Cash jumped 10 percent to top $300 once again and take fourth place with a market cap reaching $5.3 billion.

Litecoin is the other big mover as it pumps 8% to reach $83 and flip EOS once again.

total market cap
Source: CoinMarketCap

Volume manipulation: BAT, Ravencoin, Binance Coin and Enjin among the most honest projects (Captain Altcoin), Rated: AAA

Of the large cap projects, most volume overstatement has Dash, whose reported volume is 100x bigger than the one recorded on the 10 legit exchanges – real 10 is $2,187,989 while the reported volume is a massive $227,716,607.

RVN, BAT, BNB and ENJ have one thing in common: aside of being one set of the top performing coins in the recent months, they also appear to have majority of their volume traded on the well-functioning markets.

BAT’s volume is only 4x bigger than the real one, whereas RVN, BNB and ENJ are even better with only 2x disparity of the two metrics.

wash trading
Source: Captain Altcoin, Messari

Tron mainnet crosses 2.5 million accounts; beats Ethereum with 8 million blocks since launch (AMBCrypto), Rated: AAA

Tron, the eleventh largest cryptocurrency on CoinMarketCap might have lost its position in the list of top 10 cryptocurrencies but is adding new feathers to its cap every day. Tron Foundation, led by its founder and CEO Justin Sun, has been performing exceedingly well when it comes to DApps. However, this time, the Tron mainnet marked a milestone as it reached 2.5 million accounts.

Top 3 Coins to Watch Apr 15 – Apr 21, 2019 (CoinCodex), Rated: A

Binance Coin is a token used by the Binance exchange, and it enables customers to enjoy reduced fees when trading via BNB.

Aergo is a blockchain solution developed by Blocko aimed at enterprises aiming to incorporate Distributed Ledger Technology (DLT).

Blockport is a social crypto exchange which allows new investors to easily buy, sell and store Bitcoin and other cryptocurrencies.

IMF and World Bank Launch Quasi-Cryptocurrency (Investing.com), Rated: A

The Financial Times reported that the IMF and World Bank launched the “Learning Coin” to study the technologies that underlie the cryptocurrencies.

$ 20-$ 50 Trillion For Blockchain Adopting Countries in The Next 30 Years (Ethereum World News), Rated: A

Gabor Gurbacs, the digital asset director at VanEck/MVIS recently carried out a poll, asking users to choose the continent that would be home to some of the most potent cryptocurrency companies.

Gabor askedWhich continent will be the home for most of the important and powerful crypto companies in 10 years? Why? Which countries?”

Asia took the larger percentage, accounting for 58 percent of the vote. North America meanwhile has 22 percent, Europe 14 percent, and the other continents have just a 6 percent chance. Over 2,000 votes were cast, with most of the voters of the view that Asia will be home to powerful crypto companies.

Three Open-Source Blockchain Startups Gets $ 45,000 Grants From Binance Labs (Coin News Press), Rated: A

Three Startups developing open-source blockchain technologies have received a grants of $15,000 each from Binance Labs, the investment arm of cryptocurrency exchange Binance.

Blackmoon and Zeus Exchange Strategic Partnership Announced (Zeus Exchange), Rated: B

Blackmoon Financial Group, a blockchain Financial Service and Fintech firm, and Crypto Zeus PTE. LTD. (Zeus Exchange), a Fintech firm whose vision is to merge traditional investments with the power of the blockchain, today announced that they have formed a strategic partnership over co-branded Exchange Traded Indexes (ETxs).

The new relationship between Blackmoon and Zeus Exchange will empower them to work very closely together in order to produce the ETx that will be directly linked with underlying assets listed on Zeus Exchange, whether those are stocks, or crypto stocks, or cryptocurrencies or other asset types, with an ability to receive an underlying asset at any given time.

ShaktiCoin Issues Note of Caution to Public Clarifying Who Can Have Access to Shakti Coins (Business-Standard), Rated: A

The registration to mine the Shakti Coins will be opened country-by-country in the days to come and Shakti Coins are not available for purchase The issued (https:hakticoin.com/en/) today a note of caution to the public announcing there is no imminent initial coin offering (ICO) of Shakti Coins.

For instance, India, and the U.S. will have equivalent numbers of power miners in proportion to their population and made available on a first-come, first-serve-basis.

World’s Largest Business Organization Partners with Perlin for Blockchain Adoption (Aithority), Rated: B

The International Chamber of Commerce (ICC) Has Announced That It Is Working Closely with Perlin, a Leading Distributed Ledger Company, to Support Blockchain Adoption Among the 45 Million Member Businesses It Represents in over 130 Countries

A Free Udemy Course for Cardano’s Marlowe Promises to Bring Smart Contracts to the Masses (Toshi Times), Rated: B

In a recent Tweet Charles Hoskinson, one of the founders of Cardano, announced the creation of a free Udemy course. The course promises to teach users how to create a smart contract, including setting up an escrow account and funding it. According to the website the course is designed for, “financial experts, business people, accountants, lawyers, entrepreneurs, programmers interested in smart contracts.”

European Union

Binance Coin (BNB) Has Seen An Impressive 200% Increase In 2019 (Smartereum), Rated: AAA

Binance Coin (BNB), the digital asset native to the largest cryptocurrency exchange in the world, Binance exchange, hascontinued to maintain its top performance. The Binance Coin price has grown by a massive 200% since the beginning of this year. It is arguably one of the best performing cryptos of 2019.

Cryptocurrency Price Trends Could Signal End of Bear Market, Says Binance Research (CoinTelegraph), Rated: AAA

Bitcoin (BTC) prices and altcoin prices could have already hit their lowest point, new analysisfrom cryptocurrency exchange Binance concluded on April 11.

According to historical behavior, such periods tend to trigger trend reversals. The 90 days to mid-March incorporated Bitcoin’s drop from $6,500 to around $3,100, leading Binance to suggest that markets could now rebound following the end of the record correlation period.

Web 3.0 Accelerates As Leading Browser Expands Crypto Wallet Integration and Ethereum Blockchain Support (The Daily HODL), Rated: A

Web 3.0 browser Opera has released its latest update, Reborn 3, with new features including direct access to decentralized applications (DApps) on the Ethereum blockchain, an enhanced built-in VPN service, ad blocker, snapshot tool and design changes. Opera’s Reborn 3 also includes a native cryptocurrency wallet for Windows, macOS and Linux, a follow-up to the crypto wallet integration on Opera’s Android app in December 2018.

Porsche Launches Blockchain Proof of Concept “You Owe Me” for Parking Fee (The Tradable), Rated: A

Porsche has announceda proof of concept blockchain parking fee collection method known as “You Owe Me”.

ING Bank Is Bringing Bitcoin ‘Bulletproofs’ to Private Blockchains (CoinDesk), Rated: A

ING’s blockchain team is testing a privacy technology called “bulletproofs,” the latest in a series of seemingly unlikely cypherpunk experiments at the Netherlands-based global bank.

France Passes Bill to Allow Insurance Providers to Invest in Cryptocurrencies (Altcoin Buzz), Rated: A

Good news for the cryptocurrency space: this week, France adopted a law that allows insurance providers in the country to invest in cryptocurrencies such as Bitcoin (BTC).

Luxembourg’s Minister of Finance Accepts Ripple’s Tech (Oracle Times), Rated: B

Pierre Gramegna, Luxembourg’s Minister of Finance, seems to have reportedly hinted at the acceptance of Ripple’s tech in his country.

United Kingdom

Coinbase introduces debit card to make it easier to pay with cryptocurrencies, UK (Ultragamerz), Rated: AAA

CNBC reports that digital currency exchange Coinbase launched a debit card in the U.K. on Thursday to make it easier for customers to pay in stores and online with cryptocurrencies like bitcoin, ethereum and litecoinCoinbase U.K. CEO Zeeshan Feroz told CNBC in an interview in London. He said the card will give users the ability to spend and invest cryptocurrencies from one common platform.

Telegram begins private beta testing of blockchain, records high speeds (CoinGeek), Rated: A

After months of anticipation, Telegram has finally launched a beta testing of its blockchain. The Russian messaging platform has been developing its Telegram Open Network (TON) since 2018.

After months of anticipation, Telegram has finally launched a beta testing of its blockchain. The Russian messaging platform has been developing its Telegram Open Network (TON) since 2018.

China

China wants to ban bitcoin mining (Reuters), Rated: AAA

China’s state planner wants to eliminate bitcoin mining in the country, according to a draft list of industrial activities the agency is seeking to stop in a sign of growing government pressure on the cryptocurrency sector.

The National Development and Reform Commission (NDRC) said on Monday it was seeking public opinions on a revised list of industries it wants to encourage, restrict or eliminate. The list was first published in 2011.

Comment from Matt Hawkins, CEO (Cudo Miner), Rated: A

“We have already seen the Chinese government is clamping down on the use of Bitcoin as a currency, competing with the Yuan, but this has had limited impact thus far. However, if local authorities begin targeting mining farms, this could have a substantial impact on Bitcoin’s global infrastructure. People talk a lot about the risks of a 51% attack, but the problem with accumulating so much centralised hash power in areas such as China is that – should it be turned off – the Bitcoin network’s performance will be harmed.

“The current status of Bitmain and its Chinese counterparts is significant to miners and the Bitcoin ecosystem. In the latest Antminer product, Bitmain will substantially reduce the global electricity use of Bitcoin, but only if the company is in a position to ship its products and if mining farm operators in China, and other regions throughout the world, take the risk of investing.”

Why China Has Made The Right Call On Cryptocurrencies (Forbes), Rated: A

China’s reasons for banning cryptocurrency mining are easy to understand: it’s a pointless waste of energy.

Cryptocurrency mining requires huge amounts of electricity and the companies involved tend to be located in coal-dependent provinces, where the cost of energy is cheaper. It is estimated that the activity generates between three and 15 tons per year of carbon dioxide. China has been criticized for its failure to meet environmental goals, but at least in this area the authorities there have taken the right decision.

Asia

Stratis To Expand Its Token Sale Platform To Include STOs (The Tokenist), Rated: AAA

Security token offerings are officially coming to Stratis. In a new announcement made recently, the Stratis ICO platform will now be expanding to security token offerings. Regulatory requirements still need to be put in place before this becomes a reality, however.

Japan’s Largest Bank Will Issue a Proprietary Cryptocurrency This Year (Ethereum World News), Rated: A

The most important announcement in this area happened this week when Mitsubishi UFJ said it would launch its own cryptocurrency at the end of this year.

For the Western population, this may not represent much of a hype, but just to put things in perspective, MUFJ is the fifth largest bank in the world by total assets and the most influential private bank if the Chinese institutions are excluded. Its total capitalization is approximately 2.78 trillion dollars, 300% more than the total assets of Goldman Sachs, and 169 billion more than JPMorgan Chase.

largest banks

North Korea could target Southeast Asia’s vulnerable crypto sector, says defense think tank (CNBC), Rated: A

North Korea’s cyber capabilities and financial networks pose a threat to Southeast Asia’s growing, yet vulnerable, cryptocurrency sector, according to British defense and security think tank Royal United Services Institute.

Indian Banks Consider Promoting Blockchain Tech Use for Payments (CoinTelegraph), Rated: A

The National Payments Corporation of India (NPCI) is considering implementing blockchaintechnology to increase the strength of digital transactions, Indian business magazine Business Today reports on April 14.

The initiative of ten banks, under the aegis of the Indian Banks’ Association (IBA), aims to improve the NPCI by implementing distributed ledger technology, the publication underlines.

Samsung SDS and Mahindra to collaborate in blockchain (ZDNet), Rated: B

Samsung SDS and Tech Mahindra will collaborate to expand the South Korean company’s Nexledger platform, the companies have announced.

The Indian IT consulting firm will offer the blockchain platform to its local market, it said. It will also take part in developing the Nexledger platform going forward.

Eurasia

Critic: Binance Built on “Fake Volumes” Discuss Banning Exchange in Russia (Ethereum World News), Rated: AAA

A critic of Binance has accused the exchange of building its business from fake volumes. The Bitcoin SV and Craig Wright defender is even of the opinion that the exchange should be banned in Russia following the threats of Changpeng Zhao to de-list Bitcoin SV from his platform.

Africa

Market trends that are emerging in a post-digital African economy (Consultancy.Africa), Rated: AAA

Businesses in Africa have been navigating a period of rapid digitalisation recently. The continent is set to have as many as 1 billion internet connections over the next two years, which means that the population is set to be wired in. The business environment has been looking to capitalise on this digital market.

Authors:

George Popescu
George Popescu
Allen Taylor
Allen Taylor

About the author

Allen Taylor

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