Bitcoin’s Price Counters the VIX, Confirming It’s Still a Risk Asset

Evidence is emerging that bitcoin has yet to truly earn its reputation as an “uncorreleated asset.” Case and point, bitcoin’s latest sell-off from $6,000 to nearly $3,000 was accompanied by a surge in the CBOE Volatility Index (VIX). The VIX measures the 30-day forward-looking volatility of the S&P 500 to gauge the market’s fear and risk tolerance, which is why it is commonly referred to as the “fear gauge” for the broader U.S. stock market.  In theory, the VIX should be low when the S&P 500 is in a steady uptrend and…

Ethereum Price Analysis: ETH Consolidating Below Crucial Barriers

ETH price declined recently below $120 and tested the key $112 support area against the US Dollar. Yesterday’s highlighted important bearish trend line is intact with resistance at $118 on the hourly chart of ETH/USD (data feed via Kraken). The pair is currently consolidating below the $118 and $120 resistance, with a few positive moves. Ethereum price is placed in a bearish zone against the US Dollar and bitcoin. ETH/USD must break the $118 and $120 resistances to start a short term upside correction. Ethereum Price Analysis Yesterday, we saw…

Ethereum On-Chain Transaction Volume Reached Record High in December 2018

The on-chain transaction value of Ethereum (ETH) hit an all time high in December 2018, crypto analytics firm Diar reports on Jan. 21. On-chain transaction levels of the third largest cryptocurrency reached 115 million in December 2018, an all-time high excluding the activity following a hard fork caused by the DAO hack in 2016. Dair stated, “In terms of transaction count on-chain the ‘super computer’ has found stability since October bobbing between 16–17 million monthly transactions.” On-Chain Ethereum transaction Volumes. Source: Diar Conversely, the United States dollar value of the…

Spanish Port Authority Joins Blockchain Platform Developed by IBM and Maersk

The Port Authority of the Bay of Algeciras (APBA) has signed an agreement under which it will collaborate with IBM on its shipping platform Tradelens, Europa News reported on Jan. 21. Tradelens is a digital platform based on blockchain technology developed by both IBM and international shipping giant Maersk. Algeciras is one of the top 10 busiest ports in Europe, hosting over 70 million tons of cargo traffic annually. In 2017, the port had a container throughput of 4.3 million containers. According to an APBA note seen by Europa News,…

Bitcoin, Ripple, Ethereum, Bitcoin Cash, EOS, Stellar, Litecoin, TRON, Bitcoin SV, Cardano: Price Analysis, Jan. 21

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. 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. Marcus Hughes, the United Kingdom lead counsel for major United States crypto exchange and wallet provider Coinbase, expects huge developments for Bitcoin (BTC) in the next two years. Hughes is confident about the European Union coming up with a more defined regulatory framework…

Digital Securities Platform Joins IBM Blockchain Accelerator Program

Compliance platform for digital securities Securitize has joined the IBM Blockchain Accelerator program, Forbes reports on Jan. 21. According to Forbes, Securitize CEO Carlos Domingo said that the firm’s goal is to build a debt issuance platform using blockchain technology. Domingo said: “…we hope to modernize the $82 trillion dollar corporate debt market — which is currently riddled with inefficiencies and high fees — with blockchain technology.” The accelerator will purportedly last three months and will conclude with a presentation and demonstration of Securitize’s platform. The program includes a blockchain…

Crypto Exchange CEO Sentenced to 3-Year Jail Term for Faking Trading Volume

Two executives from South Korean crypto exchange Komid have been handed down jail time for faking trading volume and deceiving investors. According to a report from CoinDesk Korea, the firm’s CEO Hyunsuk Choi received a three-year sentence for his role in the crime, as well as for embezzlement. Another member of the team, Park Mo, got two years, according to local news source Blockinpress. Choi, the court found, made a number of fake accounts on the exchange in January 2018, and, using a trading bot, made millions of false transactions…

Cryptocurrencies Fail Basic Financial Tests, Lack Value

Huw van Steenis, senior adviser to Bank of England’s (BOE) Governor Mark Carney, told Bloomberg in an interview Monday, Jan. 21, that cryptocurrencies fail fundamental financial tests. Van Steenis joined BOE in 2018, having previously worked at Schroders and Morgan Stanley. He is currently heading a review of the future of finance, according to Bloomberg. When asked about crypto’s potential to become a threat to economic stability, van Steenis said: “I’m not so worried about cryptocurrencies. They fail the basic tests of financial services. They’re not a great unit of…

Blockchain.com Seeks Undisclosed Stablecoin Partnership by End of 2019: Report

Crypto wallet provider Blockchain.com is seeking to partner with an unnamed stablecoin project by the end of 2019, the firm’s CEO Peter Smith revealed in an interview with crypto news agency The Block Jan. 21. Blockchain.com, which reportedly provides 32 million wallets, with most of them active to date, is allegedly considering listing a stablecoin on its platform. In the interview, the CEO of Blockchain.com stressed that the existing high competition in stablecoins will eventually make the market even more active than it is now. Smith reportedly stated that the…

Layoffs Did Not Exceed 10 Percent, Mainly Affect Support Staff

Recent layoffs at blockchain software technology company ConsenSys did not exceed 10 percent of staff. The company’s Executive Director of Enterprise and Social Impact Vanessa Grellet spoke to Cointelegraph about the recent developments at the Crypto Finance Conference in Switzerland on Jan. 18. Grellet said that the staff cuts were a “natural movement” and mainly affected support staff, while developers and technical employees were largely unaffected. She said: “I’ve been at the company for two years and a half. When I joined it, we were 60, and we grew to…