Day: October 3, 2018

Abra Wallet and Exchange Service Introduces Token That Tracks Crypto Index

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Digital currency wallet and exchange Abra has launched support for a new token, BIT10, that tracks the Bitwise 10 Large Cap Crypto Index, according to an announcement published Oct. 3. The Bitwise 10 Large Cap Crypto Index was developed by cryptocurrency asset management firm Bitwise Asset Management and is reportedly listed exclusively on Abra. The index tracks the ten largest cryptocurrencies by market capitalization, currently representing 80 percent of the total crypto market capitalization. Per the announcement, any investor is now able to acquire the BIT10 token through the Abra…

Blockchain in Manufacturing Market Will Be Worth $500 Million by 2025

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A recent report by technology research company ReportLinker shows that blockchain technology in the U.S. manufacturing sector is expected to grow significantly from 2020–2025. While preparing the report, the authors split blockchain usage by application, end use, and territory. The study then divided the blockchain in manufacturing market based on end use into energy and power, industrial, automotive, pharmaceuticals, aerospace & defense, food and beverages, textile and clothing, and other sectors. According to the research, the blockchain in manufacturing market is expected to be worth $30 million by 2020 and…

BCH Tops Performance despite Losses

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Even with lower lows in the last day, Bitcoin Cash is a top performer in the last week. Despite losses, BCH could benefit from strong volumes backing recent revivals. Further supporting price is the increase in adoption and expected coin listing from the regulated Gemini. Latest Bitcoin Cash News Bitcoin Cash Talk forum is for discussing matters related to Bitcoin Cash only. Though controversial—because it clones the original BitcoinTalk forum, the publishers of the site say the forum is “for all discussion related to Bitcoin as a peer-to-peer electronic cash…

Monero Breaks below Main Support Trend line

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It’s back to red with altcoins losing on average five percent in the last day. Litecoin and Stellar Lumens are top losers shedding five percent. Factoring in candlestick arrangement, it is likely bears will drive prices towards previous support lines in coming days. Because of this, we recommend selling Monero at spot prices in sync with Sep 5 bears with stops at $120. Let’s have a look at these charts: EOS Price Analysis Aside from Huobi collusion accusation which we highlighted earlier, there is nothing market moving per say. In…

Crypto Exchange Poloniex Removes Margin and Lending Products for US Users

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U.S.-based cryptocurrency exchange platform Poloniex will remove margin and lending products for its customers in the U.S and delist three digital assets, according to an announcement published October 3. Poloniex is a cryptocurrency trading platform founded in 2014 and designed as a digital-currency-to-digital-currency exchange. In 2018, Poloniex was acquired by Dublin-based payments technology firm Circle for $400 million. Currently, Poloniex is ranked 38th by the adjusted trading value, according to CoinMarketCap. According to the statement, the exchange will remove its margine and lending products for U.S.-based customers by the end…

Bank of America Thinks Blockchain Could be a $7 Billion Market

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Bank of America research analysts have predicted that blockchain technology could represent a multi-billion dollar industry down the road, and be of particular benefit for leading companies like Amazon and Microsoft. BoA: Many Can Benefit From Blockchain The analysts predicted the total addressable blockchain market would eventually hit $7 billion, but there was not a particular timeline for the market growth since the technology is not yet widely used. CNBC reported that the market estimate was predicated on the assumption that 2% of servers would one day be used to run…

Legislators Introduce Bill to Find Common Definition of Blockchain Technology

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U.S. Reps. Doris Matsui and Brett Guthrie have recently proposed a bill dubbed the “Blockchain Promotional Act 2018” in the House of Representatives, according to an announcement on Matsui’s website Monday, Oct. 1. The release notes that current definitions of blockchain technology in different draft bills differ. For this reason, the bill proposes that the U.S. Department of Commerce creates a working group formed both by federal officials and members of the blockchain industry to form a common definition of blockchain. The working group will also consider recommendations for the…

Winklevoss’ Gemini Crypto Exchange Secures Insurance Coverage for Custodied Assets

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Cryptocurrency exchange and custodian Gemini Trust Company, LLC (Gemini) has secured insurance coverage for custodied digital assets from lending services firm Aon, according to a press release published Oct. 3. Founded in 2014 in New York by Tyler and Cameron Winklevoss, Gemini is now the 50th largest digital currency exchange by 24 hour adjusted trade volume, according to data from CoinMarketCap. Per the press release, Gemini’s digital insurance coverage will complement the already available Federal Deposit Insurance Corporation (FDIC)-insured U.S. dollar deposits. Yusuf Hussain, Gemini’s Head of Risk, said: “Consumers…

How Will it Affect Bitcoin?

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Technical analyst and crypto trader Aurelius revealed that the price of Tether (USDT), the most widely utilized stablecoin in the cryptocurrency exchange market, has fallen in the past 24 hours. The drop in the price of Tether by around 1 percent led a premium to form on USDT-to-crypto trades, especially on USDT-to-Bitcoin trades. 1-day price chart of USDT, data provided by Coinmarketcap.com As a stablecoin backed by the US dollar, the value of USDT has to remain at $1. Tether LLC, the company that operates USDT, is said to have…

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, IOTA: Price Analysis, October 3

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The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by the HitBTC exchange. Investment firm Tiger Global is “finishing negotiations” to buy a stake worth about $500 million in one of the largest U.S. crypto companies Coinbase, at a reported valuation of around $8 billion. Tiger is a reputed firm led by savvy investors, hence this…