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Incoming Finance Minister Hong Nam-ki wants to taxt crypto. And Kwon Dae-young of the financial innovation bureau says the department is trying to institutionalize crypto but harm done to crypt investors must be resolved first.

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Which Coin Had Gained 4500%? Crypto Weekly Update: Bitcoin’s 2019 High, South Korea’s Back, Bakkt and More

Following last week’s correction, Bitcoin started yet another cycle as the enthusiasm around Initial Exchange Offerings (IEOs) continues and more exchanges are stepping in. However, it’s important to determine whether the current price action will be beneficial for the cryptocurrency market in the long-term or if the current hype will fade-away just like it did back in 2017. In any case, it appears that the IEOs trend is one of the main causes for the recent gains, as there is no other reason to attribute these gains to except for the halving which is scheduled for May next year. This week’s market events include Cosmos trading with ATOM, which started in the first few hours and traded at a staggering 4500% dollar-wise. It’s important to consider that investors haven’t yet received their tokens and that a correction is expected. Apart from that, a lot of the altcoins were trading in the green this week. Cryptocurrencies such as Tezos (XTZ), Basic Attention Token (BAT), and Binance Coin (BNB) were amongst the leaders, providing their investors with impressive gains. Meanwhile, the market dominance is slowly shifting in favor of Bitcoin as the BTC Dominance index is currently at 53.3 percent after a nice weekly increase. To wrap it up, we’ve had yet another positive week and 2019 continues to be a rather successful year for the entire cryptocurrency market. Market Data Market Cap: $184.9 B 24h Vol: $51 B BTC Dominance: 53.4% BTC: $5,596 9.2% ETH: $175.3 6.9% XRP: $0.32 1.2% BTC Shorts (BFX): 24.7 K BTC BTC Longs (BFX): 23.9 K BTC Crypto News Former E&Y Blockchain Big Hitter Quits Overcrowded Crypto Space. Angus Champion de Crespigny, former cryptocurrency leader at Ernst and Young has said that he’s taken a role outside of the crypto industry as he thinks the market won’t become rational in the foreseeable future. However, he also maintains his belief that Bitcoin can truly transform the world but not in the short term. LedgerX Reveals bid to Beat Bakkt to Physical Bitcoin Futures Launch. Popular provider of cryptocurrency derivatives, LedgerX, has announced plans to become the first US company to offer physically settled Bitcoin futures contracts. LedgerX’s product will be geared toward investors of all sizes and not just institutional participants. Will Visa, Mastercard, PayPal Be Eclipsed By Crypto? Bitcoin Data Shows It’s Already Happening. Recent research by Blockdata revealed that traditional payment processors such as Visa and Mastercard pale in comparison to Bitcoin by many measures, particularly in their expensive transaction fees. You Can Now Shop With Bitcoin on Amazon Using Lightning. Moon, a cryptocurrency payment processing startup, has recently announced its browser extension which will allow any lightning-enabled wallet to shop at e-commerce sites such as Amazon. While the extension is currently being reviewed by the Chrome Web Store, it’s expected to launch on Wednesday, April 24th. Hacked Crypto Exchange Zaif Resuming Full Services Under New Owner. In 2018, Japanese cryptocurrency exchange Zaif was hacked for about $60 million. Now, the company announced that it has signed over its business to Fisco – a local investment firm and expects to resume full operations. South Korean Comeback? Korean Crypto Investments Rise by 64.2 Percent in 12 Months. Despite the prolonged bear market, South Korea has seen a notable surge with 64.2 percent in the overall value of cryptocurrency investments over the last year. While the number of investors is nowhere near that during the peak in 2017, the study gives signs of positivity. Charts This week we have a chart analysis of Bitcoin, Ethereum,Ripple,SIA and Chainlink – Read more here. The post Which Coin Had Gained 4500%? Crypto Weekly Update: Bitcoin’s 2019 High, South Korea’s Back, Bakkt and More appeared first on CryptoPotato.
CryptoPotato

Crypto Investment Rises in South Korea as the Middle Age Population Doubles its Exposure Taking It to USD 6100

Korea has been at the forefront of the crypto and blockchain revolution as it has been a leader in regulations, innovation, support and investments in this nascent technology. While 2018 saw a drop in global investment in crypto, Korea still was an outlier at its population above the age of 40 have doubled their exposure in crypto since 2018. Average amount invested by individuals surged by 64.2% According to the Korea Financial Investors Protections Foundation, the average amount invested in crypto by retail investors in South Korea hovers at around $6,100 and is up nearly two-fold since 2018 amongst investors in their 40s and 50s. In a survey conducted across South Korea‘s six largest cities targeting investors aged 25 to 64 years old, the Korea Financial Investors Foundation found that the number of investors who are now committed in the crypto market has increased from 6.4 percent to 7.4 percent and the average amount invested in crypto by individual investors surged by 64.2 percent in the past 12 months. Joseph Young too mentioned the same in his tweet Source: Twitter It’s the second such survey that the non-profit organization has carried out. For 2017, the KFIPF found that cryptocurrency investors on the Korean Peninsula spent an average of approximately $3,660 on digital assets. Distinctively, the report claims that South Koreans in their 50s were most likely to buy cryptocurrency assets in 2018. That was followed by people in their 30s and 40s. This is a really startling figure as cryptocurrency investment is usually considered an investment tool used by the millennials and younger people. South Korea is the only nation were investing in cryptocurrencies is truly mass market. Housewives, grandparents, millennials, boomers — people from every age group — have invested in a cryptocurrency. While people in other countries may be hesitant to take the leap on something so new and unproven, South Korea has a track record for quick adoption of new tech offerings — even ones that are truly culture-changing. Last year, South Korea was the third largest market for Bitcoin trading and the largest market for Ether trading in the world (it accounted for at least 35 percent of Ether’s global trading volume). The country has also been quick to adopt the tech powering such currencies. With the kind of revolution, South Korea is witnessing it wouldn’t be wrong to say that the country is definitely paving a roadmap for the world to follow. It would be great to see which other countries follow the footstep of South Korea Will other countries too will show the same rise in investment in cryptos as South Korea? Do let us know your views on the same. The post Crypto Investment Rises in South Korea as the Middle Age Population Doubles its Exposure Taking It to USD 6100 appeared first on Coingape.
CoinGape

Disney is Reportedly Set to Put Out $13,2B for South Korea’s Largest Game Developer Nexon

Coinspeaker Disney is Reportedly Set to Put Out $13,2B for South Korea’s Largest Game Developer NexonDisney was offered a controlling stake in NXC, the parent company of South Korean video game publisher Nexon, which specializes in online games for PC and mobile.Nexon, being the biggest game developer in South Korea is also the world’s second-largest online games market. NXC owns two major cryptocurrency exchanges: Bitstamp, based in Luxembourg, and Southkorean Korbit.This is pretty interesting because a lot of big companies were showing the interest in Nexon.Among them were Amazon, Comcast, Electronic Arts, and Tencent.According to Reuters, Tencent was the whole time seen as the key to any deal since it owns the exclusive China license for Dungeon Fighter (DNF), Nexon’s most successful game. However now, it seems that famous “Mouse” company could mess this deal.According to a report from the Korea Herald, the company’s CEO Kim Jung-ju has personally approached a high-ranking Disney executive to sell his and his wife’s majority stake in the company, which is 98.64 percent, for a cool $13.2 billion.If we look back 4 years ago, there is no wonder Jung-ju gave such an offer. He was referring to the common practice of effectively requiring players to make in-game purchases and was reportedly saying:“What I envy the most about Disney is that they do not force money out of kids … (consumers) gladly pay Disney. Nexon has a long way to go. Some people hate Nexon to death.”At this time, Nexon is one of the 12 biggest and most lucrative games-makers on the planet. Last year they reported earnings of $2.25 billion thanks to its wide array of monetized mobile and PC games. Disney would, of course, have Nexon run as it has, and not meddle with the Asian corporations’ business model – if anything it’d just enjoy a steady stream of revenues from mobile games and maybe use it as a wheelhouse for Marvel games.Acquiring Bitstamp Showed Disney’s Pretensions of CryptoNexon currently owns 65% of crypto exchange Korbit, therefore NXC does and therefore Disney will if this deal goes through. Just for a reminder, NXC acquired Bitstamp in 2018 through one of its subsidiaries, NXMH, which is a Belgian-based investment group.According to Bitstamp’s statement, the main goal of the deal was:“A combination of the quality of the buyer, the quality of the offer and the fact that the industry is at a point where consolidation makes sense”.Bitstamp is not only the longest running Bitcoin exchange, founded in 2011, but also one of the larger ones with the daily volume on the exchange of around $56.7 billion. It is included in the 10 select exchanges that Messari uses in their “Real 10 Volumes” index.NXMH investment manager Hendrik Ghys said:“Bitstamp is one of the oldest and most-respected cryptocurrency exchanges and we see positive growth potential as the industry continues to evolve … We acquired Bitstamp because we see it as a strategic, long-term investment.”Even though some analysts think it’s pretty unlikely that Disney is interested in Bitstamp and Korbit, it’s not impossible that the company retains both should the acquisition proceed.If Disney proceeds in their idea to acquire NXC, it will be a small deal compared with its acquisition of 21st Century Fox Inc. for $71.3 billion in March. Just for a reminder, each share of Twenty-First Century Fox were exchanged for $51.572626 in cash, or 0.4517 shares of TWDC Holdco, the holding company that will own both Disney and 21CF.Founded in 1994, Nexon is now the biggest game developer and publisher by revenue in South Korea, the world’s second-biggest online games market.51-year-old Kim said last year he did not plan to leave his company to his children, and earlier this year he hired investment banks Deutsche Bank and Morgan Stanley to explore a sale of his NXC stake, sources said.Disney is Reportedly Set to Put Out $13,2B for South Korea’s Largest Game Developer Nexon
Coinspeaker

South Korea’s Largest Car Supplier Hyundai to Use DLT in Smartphone-EV Pairing Tool

South Korea’s Largest Car Supplier Hyundai to Use DLT in Smartphone-EV Pairing Tool South Korea’s largest car manufacturer, Hyundai Motor Group, will use blockchain in its new tech for pairing electric vehicles (EVs) with smartphones. Sustainable mobility-focused news agency Green Car Congress reported on the development on April 22. Hyundai reportedly announced development of smartphone-EV […] Cet article South Korea’s Largest Car Supplier Hyundai to Use DLT in Smartphone-EV Pairing Tool est apparu en premier sur Bitcoin Central.
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BTC and ADA Are Showing Positive Signs With Strong Bullruns and Weaker Corrections

The cryptomarket is going through some good times, recovering from the sharp fall it had during 2018. The recovery of the global marketcap, and the high number of developments around cryptos and blockchain technologies has led many analysts to claim that we are close to witnessing not only a stabilization of the markets but also a bullish trend in the short term. Of all the crypto currencies on the ecosystem, BTC has always been the reference token, not only for holding the most powerful position in the top 10 but also for having the highest number of users and software developments. BTC is Having a Great Week BTC has experienced a significant price increase. After a period of constant “Bart Simpsons”, it finally seems that the most important cryptocurrency in the world broke the 5k resistance. This marks an a crucial milestone as it is a a value that could not be reached for months. However, during the last few hours BTC was curiously bullish. The token easily broke the 5.4K to flirt with the 5.6K band. If this trend continues, it could be said that BTC has been bullish for the entire past week, winning between 500 to 600 Dollars per token. BTC. 30 minute candles. After the big green candle, 5580 has become a new support Bitcoin (BTC) 1day candles. courtesy Tradingview Cardano (ADA) Also Shows Some Positive Signs Another token that has been specially bullish is Cardano (ADA) The project that promises to solve the “blockchain trilemma” experienced a a surge of about 10% in less than 24h, standing at one point almost at $0.08 per token. One of the reasons for this rise is the positive reaction of the market to the announcement by Charles Hoskinson (head of the project) saying that IOHK managed to close a an association with the Ethiopian government to popularize the use of Cardano in that region. According to Mr. Hoskinson, thanks to this partnership the Ethiopian authorities, the government will allow its citizens to use ADA to make payments as if it were fiat. Also, residents of Addis Ababa, the capital of the country, will be able to use ADA to pay for public transport services in the city. Right now, Cardano (ADA) experienced a correction that placed the token back to the support at 0.074 USD. The token then went up again to 0.075 with signs of another possible bullish trend in the short term Currently the bullish trend seems to be solid in most of the markets. The signs of a trend reversal are not strong enough to be frightened, however it is important to follow the charts, remembering that cryptocurrencies are extremely volatile. The post BTC and ADA Are Showing Positive Signs With Strong Bullruns and Weaker Corrections appeared first on Ethereum World News.
Ethereum World News

USDX Wallet Announces Integration with First Crypto Exchange, ExMarkets

April 23rd, 2019, Frankfurt, Germany – USDX Wallet is a mobile-first instant transfers solution powered by blockchain technology. It targets crypto holders, allowing individuals to send and receive funds quickly and fee-free. It also covers the needs of an unbanked audience, and those who don’t want to pay commissions within traditional money transfer mobile apps. The USDX Wallet app guarantees multi-level security for all transactions and instant transfers of assets by username, phone number or QR code. The native blockchain used by the USDX Wallet is based on the BitShares protocol and allows 100,000 transactions per second. USDX and LHT Tokenomics The payment system has two cryptocurrencies at its core: USDX token and LHT coin. The USDX token is a stablecoin pegged to the U.S. dollar at a 1:1 ratio via a smart contract. USDX is collateralized by the system’s core cryptocurrency, LHT. The total supply of LHT is 1 billion coins. LHT coins will be released gradually to the market; only 10% of the LHT supply will be issued each year, of which 5% will be freely tradeable and 5% will be locked on the blockchain to provide 200% collateralization. Recent Developments USDX Wallet has not held any private sales or presales, as it has received a sufficiently large venture investment. Future profits of the project will come from business account fees. From December 2018 to January 2019, there was an airdrop that attracted tens of thousands of participants. At the moment, USDX Wallet has surpassed 50,000 verified accounts. For the last several months the team behind the app have been implementing integration with crypto exchanges. The first platform to list LHT will be ExMarkets exchange, with two more exchanges to come. On Exmarkets, LHT will be available in trading pairs with Bitcoin (LHT/BTC) and Ethereum (LHT/ETH). About Exmarkets ExMarkets is a digital asset exchange platform powered by the state-of-the-art trading engine developed in-house. On the exchange, ExMarkets users can trade the most popular cryptocurrencies as well as gain the chance to participate in the token sales of the most promising blockchain and crypto projects through ExMarkets Initial Exchange Offering (IEO) LaunchPad. Recently, ExMarkets was granted two operational licenses for crypto-fiat gateway and custodian service provision by the Estonian regulator making it one of the few certified players in the market. Also, ExMarkets supports EUR (SEPA transfers) deposits to the cryptocurrency exchange and is a part of the CoinStruction liquidity framework which is aggregating order-books from the most well-known cryptocurrency exchanges guaranteeing 24/7 crypto liquidity. It takes only a few minutes to set up an account; users are allowed to make deposits in Bitcoin, Ethereum, other supported cryptocurrencies, and tokens. ________________________________ For more information on USDX Wallet, visit https://usdx.cash. The free USDX Wallet app is available on Google Play and the App Store. Follow USDX Wallet on Medium, Twitter, Facebook and Telegram. ExMarkets platform https://www.exmarkets.com/. Media Contact Details Contact Name: Maria Lobanova Contact Email: mlobanova@usdx.cash Partnership Request Details Contact Email: partners@usdx.cash USDX Wallet is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of stable value, or of any value at all. Disclosure: This is a sponsored press release. The post USDX Wallet Announces Integration with First Crypto Exchange, ExMarkets appeared first on NullTX.
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