Daily, June 5, ’18

Daily, June 5, ’18

VeChain, Australia, Indonesia, Bitcoin, Microsoft, GitHub, Coinbase Japan, Ripple, Steve Wozniak

  • VeChain has recently announced starting a private bug bounty on HackenProof to identify critical vulnerabilities in VeChainThor blockchain and eliminate them.
  • One of Australia’s 'big four' banks, Commonwealth Bank (CBA), has agreed to pay Australian Transaction Reports and Analysis Centre around $530 million for breaching anti-money laundering and counter-terrorism financing laws, which is ironic considering the accusations by the mainstream media that cryptocurrencies are being used primarily for money laundering and funding terrorism.
  • Cryptocurrencies in Indonesia will be regarded as commodities and the government will soon adopt additional regulations covering other aspects of the crypto sector including trading and taxation.
  • Searches for the term 'bitcoin' have dropped more than 75% since the beginning of this year, according to research from Google Trends.
  • Microsoft’s acquisition of Github has provoked protest from developers of bitcoin core and other blockchains who intent to migrate to an alternative platform as soon as possible.
  • Coinbase has revealed it will apply for a license to expand its trading platform to Japan 'within the year'. Nao Kitazawa will become a chief executive of Coinbase Japan.
  • Former SEC chairwoman is representing Ripple in XRP lawsuit for alleged sale of unregistered securities.
  • Steve Wozniak, the co-founder of Apple, strongly believes in Bitcoin as being distinct from the rest of the altcoin space: 'Only Bitcoin is pure digital gold ... and I totally buy into that'.

BTC

3,987 USD
-0.30%

ETH

135.65 USD
-0.82%

XRP

0.3069 USD
-1.19%

VET

0.005727 USD
-2.04%

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Santander Bank Gets Confused With XRP and Ripple

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4-Minute Ethereum Chart Analysis [March 2019]

Link to join Blockchain Education: http://pxlme.me/MtIHH9eo [The Professional Crypto Trading & Investing Group] Follow me on Twitter for daily crypto updates: https://twitter.com/OracleOfCrypto My personal choice for Charting/Technical Analysis Software: http://tradingview.go2cloud.org/SH1Gq My preferred website hosting service [$4/month]: http://bluehost.com/track/cryptooracle SAFE Binance Exchange Link [Best New Crypto Exchange]: https://www.binance.com/?ref=10119981 $10 FREE Coinbase Link when you sign up: https://www.coinbase.com/join/5627fec0298d8700720002a5 Ledger Nano S (where I store my BTC): https://www.ledgerwallet.com/r/6b6e Trezor Wallet (my first BTC backup): https://shop.trezor.io/?a=eAHHQy3J *Crypto Oracle is not a licensed crypto financial advisor. The information presented in this video is an opinion, and is not purported to be fact. Bitcoin is a volatile instrument and can move quickly in any direction. Crypto Oracle is not responsible for any trading loss incurred by following this advice
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Bitcoin Dominance Wanes In Crypto Recovery, But Researcher Says This Isn’t The Case

Recent reports seem to indicate that, believe it or not, Bitcoin (BTC)’s short-term prospects in this market are limited, as crypto analysts await the holy grail of trading sessions — the fabled “altseason.” With this phase of trading, analysts expect for Bitcoin’s hegemony over the broader industry to slip, as stakeholders flee to alternative digital assets in search of hefty profits. But a researcher claims that traders are getting this all wrong. Bitcoin Losing Steam To Other Crypto Assets? In recent weeks, cryptocurrencies, save for BTC, have posted stellar gains in and of themselves. Litecoin has rallied by 160% since its bottom in December, Cardano is up by 24% in the past weeks, and other assets are posting movements that resemble those seen in 2017’s rally. This price action, which has come seemingly straight out of left field, has depressed the Bitcoin market dominance reading, which has struggled ever since the parabolic rally seen over yesteryear. Sure, the reading has recovered from a 32% bottom to 50% where it stands now, but it’s a far cry from the 58% seen in late-2018. And some expect for this to continue, as they see much more value in blockchains not only known for being a store of value, like Bitcoin. Related Reading: Researcher: Bitcoin Will Easily Surpass Market Cap of Gold at $8 Trillion One trader going by the moniker “Galaxy” remarked that he wouldn’t be surprised Bitcoin’s share of the cryptocurrency space falls to under 30%, citing the weak dominance uptrend to claim that the impending altseason will relatively pummel BTC. No, Maybe Not JP Thor, a leading industry researcher & Bitcoin diehard, argued that no, CoinMarketCap and similar data aggregators are getting their readings all wrong (as normal), along with those commentators quipping that BTC is rapidly losing traction. In an extensive Medium post, titled “Bitcoin’s Market Dominance,” Thor remarked that the classical method of using market capitalization to weigh an asset’s dominance is flawed. I just published Bitcoin’s True Market Dominance https://t.co/Ikts82v19u — JP [ ₿] (@jpthor__) March 22, 2019 Thor remarks that if you take volume (liquidity) into account, which he did through aggregating 12 months of trading activity, Bitcoin is far from dead in the water. The researcher writes that Bitcoin’s dominance in the form of liquidity is actually well above the 50% gauged by market capitalization. In fact, Bitcoin has a consistent dominance reading of over 80%, which has only trended higher in this downturn. Ethereum, on the other hand, has a measly ~7%, while altcoins take up the rest of the proverbial pie.  And with that, it was concluded: “In fact, just taking into account the Top 5 coins, Bitcoin (the 20%) captures over 85% of the market… CoinMarketCap’s ‘Market Dominance’ is flawed since it does not factor in liquidity and the reported 55% is significantly understated.” Sentiment-wise, industry leaders seem to think that BTC will keep on this market for the rest of its lifespan. Phil Chen of HTC’s Exodus (crypto) division told NewsBTC that he thinks that Bitcoin is fundamentally the core of this industry, so it would thus be irrational to ignore it or cast it aside. Featured Image from Shutterstock Bitcoin Dominance Wanes In Crypto Recovery, But Researcher Says This Isn’t The Case was last modified: March 24th, 2019 by Nick ChongThe post Bitcoin Dominance Wanes In Crypto Recovery, But Researcher Says This Isn’t The Case appeared first on NewsBTC.
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