Day: August 16, 2018

Ripple Partners With Three Crypto Exchanges as Part of XRapid Solution

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Ripple has added three cryptocurrency exchanges to its cross-border payments settlement product, according to a press release published August 16. Ripple has partnered with U.S.-based Bittrex, Mexican Bitso, and Philippine Coins.Ph cryptocurrency trading platforms within its initiative to build a “healthy” ecosystem of digital asset exchange. The new partners will enable Ripple’s xRapid payments solution to move between XRP and U.S. dollars, Mexican pesos, and Philippine pesos respectively. Ripple explained the operational principle like this: “A financial institution (FI) that has an account with Bittrex would initiate a payment in…

Genesis Mining Compels Certain Customers to Upgrade BTC Mining Contracts

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Iceland-based hashpower hosting service Genesis Mining is compelling some of its customers to upgrade their Bitcoin (BTC) mining contracts following this year’s significant cryptocurrency price decline, according to an August 17 statement. In 60 days, the company will terminate services for open-ended contracts that mine less than the daily maintenance fee. Genesis claims that the downward trend of BTC around January and heavy decline in crypto mining in April and May resulted in a reduction of mining outputs. If customers wish to continue using Genesis’ services, they have to upgrade…

Cardano (ADA) Price Technical Analysis

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After Prometheus, there is Yoroi and Icarus. Both of these wallets are light weight and hallmark Cardano’s projects that would ultimately push the coin towards adoption. However, shadowing this are Cardano (ADA) sellers who despite slowing down are still on the forefront targeting ATLs at 7 cents. From the News Emurgo is a Japanese company headed by the visionary Ken Kodama, the CEO and co-founder of the Cardano platform. As the business development wing of Cardano, Emurgo has clear objectives. Among the many, their work involves offering support and incubating…

Nvidia Stock Falls as Q3 Revenue Estimates Hit by Crypto Mining Decline

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U.S.-based graphics processing unit (GPU) manufacturer Nvidia stocks fell after announcing its third-quarter estimates, MarketWatch reported August 16. The firm’s revenue was affected by a decrease in crypto mining as digital currency markets slumped earlier this year. Nvidia shares declined more than five percent in the extended session. The closing price in the regular session was $257.44, down 0.6 percent. Nvidia forecasted its third quarter revenue between $3.19 billion and $3.32 billion, lower than the figure predicted by analysts of $3.34 billion. The company reported that crypto mining sales were…

Stellar Lumens, EOS, Litecoin, Tron, IOTA Technical Analysis

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Even if prices are fair off from seven days ago, still bears are in charge. The daily chart specifically displays a ball park five percent drop over a 24 hours span in coins as Tron, IOTA and EOS. Though we remain bearish, any high volume break above $65 might trigger the next wave of buy pressure in Litecoin while a close below $50 would definitely signal trend resumption and in that case targets at $30 would be ideal. Let’s have a look at these charts: EOS Technical Analysis EOS Daily…

Bitcoin Drops against Lira as Turkish Treasury Seeks to Calm Investors

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The Turkish Lira value improved against the bitcoin price ahead of an important conference between the country’s financial chief and global investors. The BTC/TRY recorded a 22 percent drop since establishing its intraday high at 45382-fiat. A political spat between the Turkish and U.S. governments last week had influenced the latter to double the tariffs on Turkish steel and aluminum. As a result, the Lira value dropped to a record low of $0.139 on Monday, shaking an already weakening economy to further extent. The currency started to reverse its trend…

Binance LCX Launches Fiat-to-Crypto Exchange in Liechtenstein

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Binance LCX, a joint venture between Binance and Liechtenstein Cryptoassets Exchange (LCX), has announced the launch of a fiat-to-crypto exchange, according to a press release published August 16. The new trading platform will be located in Liechtenstein and offer trading between Swiss Francs (CHF) and euros (EUR) against major digital currencies pairs, subsequently adding more trading pairs following regulatory approvals. Binance will provide and support the platform, while Binance LCX will lead customer support, regulatory compliance, and government communication. Adrian Hasler, Prime Minister of Liechtenstein, commented the launch: “We are…

Strong US Dollar, Not ICOs, Drove Recent Cryptocurrency Market Decline

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The cryptocurrency markets experienced a slight pullback on Thursday but have more or less managed to maintain the midweek recovery that followed Monday’s massive sell-off. As CCN reported, some analysts attributed that decline — which affected ethereum to a far greater extent than bitcoin — to ICO-funded startups cashing out their capital before the market takes an even further dip. Arthur Hayes, CEO of cryptocurrency derivatives exchange BitMEX, added that he believes nervous VCs will soon begin moving out of their ICO tokens and ether holdings, which he forecasts will…

BCG Report Offers ‘Reality Check’ for Blockchain in Commodities Trading

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Major U.S. consulting firm Boston Consulting Group (BCG) has released an in-depth report August 16, which it dubs a “reality check” for the use of blockchain in the commodity trading industry. For commodities trading, BCG argues that there is a strong argument for using blockchain, while taking stock of “significant drawbacks on several fronts.” The report tackles both the “hype,” but also many of the negative “misperceptions” that distort people’s view of the technology. According to BCG, blockchain at first glance appears to be “a natural fit for the commodity…

How New Technology Is Helping Those in Need in Novel Ways

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There has been a lot of discussion about how cryptocurrencies and blockchain can transform the world’s economy — leaving paper money behind and going truly digital. Indeed, many crypto businesses are pursuing solutions which can eradicate inefficiencies in practically every industry, positively affecting the goods and services we use every day. But away from the profit margins, is there any way that blockchain can be a force for good? Some not-for-profit organizations — as well as companies and individuals who want to give back to the community — have shown…