Poloniex Exchange (@Poloniex) | Twitter

Poloniex Exchange (@Poloniex) | Twitter

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Author: JUST @DeFi_JUST

News & Blog

News & Blog

Digital euros has been successfully tested for the first time by France ’s central bank. In Banque de France’s experiment on May 14, a blockchain developed by its team was used to settle an issue of digital securities by Société Générale. Covered bonds worth $44 million were issued as security tokens directly registered on a…

The State Duma, parliament in Russia, is reportedly set to vote on new legislation that would propose to make illegal crypto trading a criminal offence that would be punishable with jail time. Per RBC, Telegram users in Russia say that they have seen draft amendments to two Russian laws that pertain to the nation’s criminal code.…

Bitcoins that where sleeping since 2009 are now moving from the wallet “17XiVVooLcdCUCMf9s4t4jTExacxwFS5uh” to Coinbase, possibly from one of Satoshi ‘s own addresses. https://twitter.com/whale_alert/status/1263120977849978880?s=20 https://twitter.com/TypicalIndian12/status/1263133925137944576?s=20 You can see more here

Founder of Tron, Justin Sun, said he “will personally 100% sponsor anyone who was harmed by the DAO incident” and is seeking damages from Vitalik Buterin, Co-founder of the competing and more popular blockchain platform, Ethereum. Justin Sun made his promise as he and Vitalik Buterin were exchanging words over the ongoing Steem (STEEM) drama, specifically the upcoming hard fork that…

Grayscale Investments bought up to 33% of all newly minted bitcoin over the last three months, as the asset manager continues to stockpile major cryptocurrencies. The investment fund added 60,762 BTC to its Bitcoin Trust Fund between February 7 and May 17, a researcher posted on Reddit. That’s the equivalent of 607 BTC acquired by…

Major Bitcoin derivatives exchange BitMEX went offline earlier on May 19, citing trading engine failure, but could be also due to legal issues. The platform was inaccessible for a brief time and is currently back online as of press time. “The BitMEX Trading Engine is currently down,” the company tweeted around 12:45 UTC time.  Around…

One of the largest cryptocurrency exchanges in the world, Binance, has returned to China despite the all-out ban on digital asset trading in the country. However, as the company’s newest Chinese website showed, it won’t be entering the market as an exchange, but rather as an educational platform. On Monday, public records revealed that the…

There were only 95 blocks generated on the Bitcoin blockchain on May 18, according to data presented by pseudonymous Bitcoin analyst digitalik.net. “In [the] last 10 years we had only 8 days with less than 100 bitcoin blocks,” the analyst tweeted, referring mostly to the 2017 Q3 period. In an interview with Cointelegraph, digitalik.net attributed…

Crypto.com said Friday it has begun shipping its crypto-to-fiat card, the MCO Visa, across the European Union. In total, 31 European countries, including the EU’s 27 member states, now have access to the card that lets users pay in crypto, it said in a blog post. The Hong Kong company received approval to bring the…

In the corona crisis, many consumers use contactless transaction options. This reduces the contact between buyer and seller and a possible risk of infection with Covid-19. Even small shops, bakeries or butchers now offer card payments. A rarity before the crisis. Banks also advertise contactless payments with cards or smartphones. However, they are not only…

Work on Ethereum 2.0 is now almost entirely directed toward fixing bugs, with the team trying to synchronize all existing clients into one single version of the blockchain. An after-action report of the Ethereum 2.0 implementers call, held on May 14, reveals that the majority of the work is devoted to fixing code bugs and…

Bitcoin holders now have a new tool to leverage the largest cryptocurrency’s growing ecosystem as two new futures markets go live.  In a blog post on May 15, derivatives platform FTX confirmed it had launched a futures product which tracks not Bitcoin’s price, but hash rate. FTX takes on first Bitcoin hash rate futures  Simply…

The People’s Bank of China proposed a blockchain trade financing information platform for the Guangdong-Hong Kong-Macao Greater Bay Area. A number of governing entities in China recently came together to issue an official document, proposing the development of a blockchain-based trade finance platform. Contributors included the People’s Bank of China, the China Banking Regulatory Commission,…

Following widespread speculation that the popular discussion forum Reddit is about to launch a new points system built on top of the Ethereum blockchain, the forum itself has now finally confirmed a new system that allows users to “earn a piece of their favorite communities,” with the help of Ethereum. And it offers “complete control,…

Bitfinex cryptocurrency exchange has partnered with London-based digital asset custodian Koine to roll out institution-grade custody and post-trade services. On May 13, Bitifinex announced that Koine would be providing the exchange with a series of services that can help professional traders to mitigate the counterparty and settlement risks associated with cryptocurrency trades. Bitfinex, which caters…

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Source: cryptorandgroup.com

Bitcoin Crashes Under $9,000 As Sudden Sell-Off Surprises Market

Bitcoin Crashes Under $9,000 As Sudden Sell-Off Surprises Market

Bitcoin investors are braced for a rough ride after the bitcoin price crashed by almost 10% over the last 24-hour trading period.

The bitcoin price, which had been holding its ground since a supply shock earlier this month, has suddenly moved sharply lower—dropping under $9,000 per bitcoin.

MORE FROM FORBESSudden ‘Major’ Outage Sparks Serious Bitcoin Exchange WarningBy Billy Bambrough

The bitcoin price is still up so far in 2020 though many bitcoin and cryptocurrency investors have … [+] warned the market could be in for a difficult few months.

Bitcoin fell to lows of $8,928 on the Luxembourg-based Bitstamp cryptocurrency exchange before rebounding slightly.

The wider bitcoin and cryptocurrency market recorded similar declines, with most major tokens losing between 5% and 10% and wiping more than $10 billion from the total crypto market value.

The cause for the sell-off was not immediately clear, although the market appeared to be spooked by old bitcoin tokens worth some $500,000 moving for the first time in years.

“While it is unclear if it was [bitcoin’s mysterious creator] Satoshi Nakamoto, it is likely to be a very early-stage adopter of the crypto-asset, and the timing of the rumours themselves appear to be the source of yesterday’s flash crash,” eToro market analyst Adam Vettese wrote in a note to clients.

The bitcoin price lost almost $500 in a matter of minutes on Wednesday afternoon as news of the decade-old bitcoin transaction spread.

Bitcoin’s earliest adopters are potentially sitting on millions of bitcoin, many of which haven’t moved since they were first created.

If these so-called whales begin selling their bitcoin it could potentially flood the market, causing prices to plummet.

Meanwhile, bitcoin technical data is painting a mixed picture with one widely-respected analyst, Quantum Economics’ founder Mati Greenspan, warning the bitcoin price could be about to fall a lot further.

“We’re now sitting at the top of a long standing wide range, the bottom of which could easily be $6,000 or even $4,000 per bitcoin,” Greenspan wrote in a note, adding he thinks there’s “a fair chance” of the market turning around and “blasting through $10,000” per bitcoin.

MORE FROM FORBESMajor $800 Million Bitcoin And Crypto Investor Reveals Coming ‘Fourth Cycle’By Billy Bambrough

The bitcoin price dropped under $9,000 for the first time since bitcoin’s supply squeeze earlier … [+] this month.

Bitcoin’s solid performance since its third supply cut, known as a halving, has taken bitcoin investors by surprise—many of which expected there to be extreme volatility following the highly-anticipated event.

Earlier this month, the number of bitcoin rewarded to those that maintain the bitcoin network, called miners, was cut by half, dropping from 12.5 bitcoin to 6.25.

Some had warned the bitcoin price could crash in the aftermath of the third halving but most analysts seem confident the bitcoin price will climb eventually.

“The potential for bitcoin as an alternative hedging tool will only continue to grow,” Lennard Neo, head of research at Singapore-based institutional-grade bitcoin index fund Stack, wrote in a weekly analysis update that found “short-term expectations of a huge potential drawdown have partially abated.”

“As bitcoin’s investment attributes become more prevalent, we expect to see a growing number of investors tactically allocating it to their portfolios in both the near and long term.”

Source: www.forbes.com

Author: Billy Bambrough

Luno Plans Entering Kenya, Ghana with Crypto Trading Services

Luno Plans Entering Kenya, Ghana with Crypto Trading Services

Luno, a London-based cryptocurrency exchange, is planning to enter Kenya and Ghana with its services, thus expanding its footprint in Africa.

Reported by Bloomberg on Wednesday, the exchange is already in talks with partners and stakeholders for the expansion.

The Most Diverse Audience to Date at FMLS 2020 – Where Finance Meets Innovation

The decision to expand Luno’s trading services was made at a time when the trading volume on cryptocurrency exchanges surged significantly due to the seeking of alternate asset classes amid the COVID-19 outbreak.

Marius Reitz, general manager at Luno, however, pointed out that though the Coronavirus outbreak opened opportunities for trading platforms, it made traveling extremely difficult which is a key to talk to stakeholders.

Established in 2013, the London-based exchange offers trading services with Bitcoin, Ethereum, XRP, and Litecoin.

Initially, it was eying to penetrate the Asian markets expanding into multiple countries, but due to resistance in the region from regulators and banks, it wrapped up its operations from Southeast Asia.

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Luno reopened its services for traders based in Malaysia and Singapore.

The exchange also operated under the regulatory sandbox of the UK Financial Conduct Authority to test its crypto-based remittance service using British pounds.

Luno first entered Africa offering services in South Africa and Nigeria and later expanded to Zambia and Uganda as well. The crypto exchange also banked $3 million in 2015 from Naspers, Africa’s biggest company, along with a few other venture capitals, all of which together own less than 20 percent of the exchange.

It now has a presence in three continents – Africa, Europe, and Asia – and employs 400 staff across seven offices.

The exchange also recently reported that it had onboarded 4 million traders.

Meanwhile, many established crypto exchanges are also eying Africa as the next emerging market. Binance is aggressively expanding into the continent and also backing crypto startups with African presence.

Source: www.financemagnates.com

Author: Arnab Shome

Poloniex Exchange (@Poloniex) | Twitter

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