ETH price declined recently, tested the $100 support, and later recovered against the US Dollar. There is a major bearish trend line formed with resistance near $105 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to face a strong resistance near $105 and the 100 hourly simple moving average. Ethereum price started a short term correction against the US Dollar and bitcoin. ETH/USD is likely to fail near $105 or $107 and it will most likely resume its slide. Ethereum Price Analysis Yesterday, there…
Day: February 6, 2019
Users of Crypto Wallets Electrum and MyEtherWallet Face Phishing Attacks
Users of cryptocurrency wallets Electrum and MyEtherWallet are currently facing phishing attacks, according to posts published on Reddit and Twitter on Feb. 4. A phishing attack is an attempt to obtain sensitive data like users’ personal or banking information by illicit means, wherein an attacker is disguised as a trusted entity and sends a user a message or an email containing a malicious link. Once clicked, the link asks the user to enter their personal data or initiates the installation of malware. On Feb. 4, the team behind MyEtherWallet tweeted…
Blockchain Association Merges with Chamber of Digital Commerce
Canada’s largest blockchain trade association, the Chamber of Digital Commerce has united with the Blockchain Association of Canada (BAC), which will now go by the Chamber of Digital Commerce Canada. The merger was announced in a press release posted on the Chamber of Digital Commerce website on Feb 5. Executive director and policy strategist of the BAC, Tanya Woods, will be serving as the managing director of the Chamber of Digital Commerce Canada. Woods has previously worked for the Canadian government, BCE, Nintendo, and Microsoft. Woods said in the press…
Crypto Markets Trade Sideways, Gold Tries to Find Direction Ahead of Trump Address
Tuesday, Feb. 5 — cryptocurrency markets are trading sideways and reporting mild losses. Bitcoin (BTC) is struggling to stay in the green, while other major coins are experiencing a downward trend. Market visualization from Coin360 The leading digital currency BTC is trading at around $3,468 at press time, having gained a modest 0.16 percent on the day. On its weekly chart, BTC is up0.56 percent, with its lowest price point around $3,400 on Jan. 29, and the highest at $3,521 on Feb. 2. Bitcoin 7-day price chart. Source: CoinMarketCap Top…
New Regulatory Framework for Digital Asset Token Offering Introduced in Philippines
The Philippines has introduced a new set of rules governing Digital Asset Token Offering (DATO), according to a press release published by the Asia Blockchain and Crypto Association (ABACA) on Feb. 4. The new regulations released by the country’s Cagayan Economic Zone Authority (CEZA) are reportedly designed to regulate the cryptocurrency industry and protect investors, affecting such issues as the acquisition of crypto assets, including utility and security tokens. The CEZA thus becomes the main regulator, while the ABACA has been designated as a self-regulatory organization (SRO) to enforce the…
US Trading Platform LedgerX Introduces Binary Wager on Bitcoin Halving
United States-regulated trading and clearing platform LedgerX has released a new type of derivative contract unique to Bitcoin (BTC), according to a blog post published on Feb. 5. The new product called LedgerX Halving Contract (LXHC) represents a binary option — an option where the payoff is either a fixed monetary amount or nothing — that settles to the estimated next time that Bitcoin halves. Bitcoin halving is an event that happens roughly once every four years, after which the amount of new Bitcoin created and earned by miners will…
Crypto Firm Accused of Fraud, Duping Investor Into Buying $2 Million in Tokens
A lawsuit recently filed in a United States district court in New York claims that an investor was misled into investing $2 million dollars in the cryptocurrency MCash, a Feb. 1 court filing states. The filing alleges that the plaintiff Lijun Sun transferred $2 million to New-York based investment group Blue Ocean Capital Group, Inc. to purchase MCash tokens, stating: “Not only was the MCash Token not properly registered with the U.S. Securities and Exchange Commission (SEC), but more importantly, in connection with selling the MCash Token, Defendants made numerous…
Bitcoin Community Celebrates as Twitter CEO Joins Lightning Network Relay
Twitter co-founder and CEO Jack Dorsey has joined a community project demonstrating the functionality of Bitcoin’s (BTC) second-layer scaling protocol, the Lightning Network (LN), on Feb. 5. Dorsey, who has repeatedly pledged his faith in Bitcoin becoming the de facto currency of the internet, is now participating in an experiment dubbed LN Trust Chain, a chain of transactions on the LN that began circulating Jan. 19. Based on the concept of the Olympic flame, the “Lightning Torch” is a series of transactions between users of the Lightning Network, with participants…
New Instance of Monero Malware Sees Cryptojackers Target Linux Users
More cryptocurrency mining malware continues to target major corporations, hijacking victims to mine altcoin Monero (XMR), new research warned on Feb. 5. Findings from the Special Ops team at United States cybersecurity company JASK reveal a modified version of trojan Shellbot has become increasingly prevalent since its debut in November last year. The perpetrators, the company says, appear to be a Romanian hacker group known as Outlaw, a translation of the Romanian word “haiduc,” which also lends its name to one of the payloads the malware installs. “The toolkit observed…
US Traders Most Active Across Major Crypto Exchanges
New data shows that United States traders are the most active across major crypto exchanges, according to a Feb. 4 tweet from data analytics firm DataLight. The U.S. has the highest distribution of traders — 60 percent — on major crypto exchange and wallet Coinbase, while on Binance, Bittrex and Poloniex, U.S. traders make up 24, 27 and 28 percent of total crypto traders respectively. Geographical Distribution of Crypto Traders. Source: DataLight American traders are less represented on Hong Kong-based crypto exchange Bitfinex, at 10 percent of traders on the…