Day: December 25, 2018

Ethereum Price Analysis: ETH Consolidating Before Fresh Upside

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Key Highlights ETH price tested the $120-121 support area and started consolidating against the US Dollar. There was a break above a short term bearish trend line with resistance at $130 on the hourly chart of ETH/USD (data feed via Kraken). The pair may trade in a range for some time before a fresh upside towards the $140 level. Ethereum price is holding important supports against the US Dollar and bitcoin. ETH/USD could resume its upward move towards $140 or $142 in the near term. Ethereum Price Analysis Yesterday, we…

New Remittances System to Tackle Crypto Volatility When International Payments Are Made

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A Japanese fintech company has unveiled a system that is designed to address the price volatility seen when cryptocurrencies are used for remittances. Atom Solutions says that, at present, the options for foreign workers who need to make overseas remittances are imperfect. While costs can be high when they try to complete transactions through a traditional bank, an entirely different issue altogether comes to the fore when crypto is used. Because of the wild fluctuations seen in the marketplace — from Bitcoin and Ethereum to lesser-known altcoins — the value of a remittance…

Why Bitcoin, Ethereum and the Entire Crypto Market Are Down in Value

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The views expressed here are the author’s own and do not necessarily represent the views of Cointelegraph.com. The way I see it, investors in 2017 — and specifically in Q4 — wanted to buy Bitcoin (BTC) and Ethereum (ETH) for the sole purpose of exchanging it for specific ICO tokens they wanted to invest in. The buyers of Bitcoin and Ethereum did not want to own Bitcoin or Ethereum. They wanted to buy the newly issued initial coin offering (ICO) tokens, but they needed to buy Bitcoin and Ethereum as…

Popula Stores News on Ethereum’s Blockchain

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Maria Bustillos Subscription-based news platform Popula has made history by providing the very first fully stored news article on a blockchain platform. Earlier this week, Maria Bustillos, the editor of journalist-owned Popula, announced the placement of an article published on the website has now been stored on the distributed ledger. According to the report, the article, which was initially published in Death + Taxes magazine, was stored in full on the Ethereum blockchain, and its hash was stored on the IPFS protocol. With these, it is expected that the article will…

Bank of America Reveals New Blockchain Patent Targeting Cash Handling

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Bank of America (BoA) wants to patent a system using blockchain technology to improve cash handling, a new application published Dec. 25 confirms. Originally submitted in June 2017, the patent references “banking systems controlled by data bearing records.” “Aspects of the disclosure relate to deploying, configuring, and utilizing cash handling devices to provide dynamic and adaptable operating functions,” its abstract reads. BoA explains there remain communication difficulties in aspects of cash handling duties across banks’ huge operations, and suggests blockchain could help ease these. “Cash handling devices may be used…

All Cryptos See Major Losses as Market Hit by Distinctly Unfestive Correction

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Friday, Dec. 25 — crypto markets are lacking in Christmas cheer, with many major crypto assets hit with double-digit losses. Virtually all of the top 100 coins by market cap are in the red, as data from Coin360 shows. Market visualization by Coin360 Largest cryptocurrency Bitcoin (BTC) has plummeted over 9 percent on the day, and is trading at $3,812 as of press time, according to Cointelegraph’s Bitcoin Price Index. After bullish growth yesterday, Christmas eve, to break over $4,236, the top coin has been trading as low as $3,755…

GMO Internet Exits Bitcoin Miner Production After Recording ‘Extraordinary Loss’ in Q4

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Japanese internet giant GMO Internet Group is quitting the Bitcoin mining hardware sector, Cointelegraph Japan reported Dec. 25 referencing a public document. Citing “extraordinary loss” in Q4 this year, GMO, which began its foray into Bitcoin mining in 2017, said that it will “no longer develop, manufacture and sell” miners. “After taking into consideration changes in the current business environment, the Company expects that it is difficult to recover the carrying amounts of the in-house-mining-related business assets, and therefore, it has been decided to record an extraordinary loss,” the document…

TRON Reaches One Million User Addresses in Six Months Since Launch

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Blockchain protocol TRON (TRX) has passed one million user accounts, data revealed Dec. 23, as executives continue their criticism of rival Ethereum (ETH). Statistics from the TRON blockchain uploaded to social media by Misha Lederman, cofounder of the cryptocurrency’s spin-off project IAmDecentralized.org, confirmed that the network now features over one million addresses. TRON, which launched its mainnet earlier this year, seeks to become the go-to ecosystem for developers seeking to create decentralized applications (DApps). Known for publicly chiding Ethereum, which constitutes TRON’s main rival, CEO Justin Sun this week predicted…

Bitcoin Price Watch: BTC’s Correction Could Extend To $3,500

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Key Points Bitcoin price struggled to gain pace above the $4,240 level and declined recently against the US Dollar. There was a break below a major bullish trend line with support at $4,020 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is currently trading below the $3,850 support and it could decline further towards $3,500. Bitcoin price started a downside correction below $4,000 against the US Dollar. BTC might continue to move down towards the $3,600 or $3,500 support level. Bitcoin Price Analysis Yesterday,…

Wall Street Giants Postpone Entering Crypto Industry Amid Falling Prices

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Wall Street giants are postponing their plans to more actively enter the crypto industry as the value of cryptocurrencies has fallen, Bloomberg reports Sunday, Dec. 23. The article begins: “Limbo — that’s where to find Wall Street when it comes to cryptocurrencies,” and then focuses on the efforts in the crypto sphere this year made by banking giant Goldman Sachs, multinational financial services company Morgan Stanley, major banking conglomerate Citigroup Inc. and United Kingdom financial services provider Barclays PLC. According to people familiar with Goldman Sachs’ crypto business, the firm’s…