Ethereum Price Analysis: ETH’s Next Leg Lower Underway

ETH price failed to move past the $105 resistance and later declined against the US Dollar. Yesterday’s highlighted crucial bearish trend line is intact with resistance near $104 on the hourly chart of ETH/USD (data feed via Kraken). The pair must break the $104 and $105 resistance levels to start a decent upside correction. Ethereum price recovery remained capped against the US Dollar and bitcoin. ETH/USD may continue to consolidate above the $100 support before the next key break. Ethereum Price Analysis Yesterday, there was a short term upside correction…

Bitfury Partners With R&D Firm to Launch Crypto Mining Center in Paraguay

Blockchain firm Bitfury will develop a bitcoin mining center in Paraguay. The new mining operation is in partnership with Seoul-based research and development firm Commons Foundation. The collaboration is backed by the government of Paraguay, whose goal is to make the South American country a cryptocurrency mining hub. The new center, which is a part of Commons Foundation’s “Golden Goose” project, will help to facilitate the innovation of blockchain technology and cryptocurrencies across Spanish-speaking countries. Bitfury will provide product and technical support for the project. The facilities used for the…

Abra Users Can Now Buy Stocks and ETFs Using Bitcoin

“Investing in stocks can be a daunting, complex and decidedly exclusionary activity,” says Bill Barhydt, Abra’s CEO. To that end, his company’s mobile cryptocurrency wallet app has announced a new feature which will allow investors to purchase traditional stocks using bitcoin. The new feature is built into the existing Abra app that enables users to buy and sell cryptocurrencies. Crypto investors in the 155 countries where Abra has its presence will be able to invest in traditional stocks, such as Apple or Amazon, as well as in exchange traded funds…

Bitcoin Transactions Per Day Increase to January 2018 Levels

The daily Bitcoin (BTC) transaction volume has been recently increasing to the levels not seen since January 2018, after BTC hit the $20,000 price mark, according to data from transactionfee.info. Some industry players believe that it is a sign of the evolution of the cryptocurrency’s ecosystem and fundamentals. Bitcoin transactions per day. Source: transactionfee.info Jameson Lopp, chief technology officer at Bitcoin personal key security system firm Casa, published a Medium post with an analysis of the fundamental performance of Bitcoin, concluding that “the system is improving and growing.” In the…

NZ Police Report Says ‘Excellent Progress’ Being Made in Cryptopia Hack Investigation

Police in New Zealand are working with international law enforcement to track down hackers who reportedly stole over $16.1 million from local exchange Cryptopia, the police reported in a press release Feb. 7. Cryptopia, which suffered an attack beginning Jan. 15 and lasting around two weeks, has lost funds from tens of thousands of Ethereum (ETH) wallets. After confirming they were investigating the case Jan. 16, police revealed today that they are coordinating an international effort to track both the funds and perpetrators, in a report attributed to Detective Inspector…

Crypto Growth Needs Entrepreneurs and Projects, Not ETFs

The CEO of leading cryptocurrency exchange Binance, Changpeng Zhao, said that he doesn’t think Exchange Traded Funds (ETFs) “are core to our industry’s growth,” during a live stream via Periscope, Feb. 6. Zhao — also known in the community as CZ — declared that the cryptocurrency industry will grow with or without the launch of a Bitcoin (BTC) ETF, suggesting: “I think for our industry to grow we need more entrepreneurs to build real projects.” As Cointelegraph reported last week, the Chicago Board Options Exchange’s, along with investment firm VanEck…

‘GoxRising’ Movement Aims to Reboot Mt. Gox Exchange, Make ‘Gox Coin’ for Creditors

A new movement dubbed “GoxRising” is calling for a new, accelerated rehabilitation plan for  creditors of the now-defunct Bitcoin (BTC) exchange Mt. Gox, with the long-term goal of rebooting the trading platform. The development was reported in an interview with its author, controversial industry figure Brock Pierce, by TechCrunch Feb. 7. As previously reported, roughly 24,000 creditors are thought to have been affected by Mt. Gox’s 2011 hack and subsequent collapse in early 2014, which resulted in the loss of 850,000 BTC valued at roughly $460 million at the time.…

How MIT Joined Ethereum in the Race for the First PoS Blockchain

As reported by Cointelegraph on Jan. 24, the press service of the Massachusetts Technical Institute (MIT) announced the development of a new cryptocurrency based on the proof-of-stake (PoS) protocol. Ethereum — Algorand’s closest competitor, according to the existing estimates — will launch its PoS system sometime between 2019 and 2021. Scheduled updates required for a gradual transition from the proof-of-work (PoW) to a PoS algorithm have been regularly postponed by the Ethereum Foundation due to network vulnerabilities and failures in the process of the network’s upgrade. Trilemma: It’s all about scalability…

BitTorrent Partners with CoinPayments to Launch Support for Native BTT Token

Peer-to-peer (p2p) torrent client BitTorrent has announced that its native token, BitTorrent Token (BTT), based on the Tron protocol, is now supported by CoinPayments’ crypto payments gateway. The news was shared with Cointelegraph in a press release Feb. 7. As reported, BitTorrent launched its BTT token this January — its first full-fledged move to begin to tokenize its content sharing ecosystem, roughly six months after the company was acquired by decentralized internet startup Tron. According to today’s press release, BitTorrent has already been collaborating with CoinPayments on supporting Tron (TRX), Bitcoin…

Bitcoin Trading Reaches All Time High in Venezuela Amidst Ongoing Economic Collapse

Bitcoin (BTC) trading volumes in Venezuela have reached a new all-time high amidst massive hyperinflation and an ongoing presidential crisis, tech news outlet TrustNodes reports Feb. 6. Bitcoin weekly trading volumes reached above 2,000 BTC (about $6.8 million) on peer-to-peer (p2p) exchange LocalBitcoins during the week ending Feb. 2. Venezuela LocalBitcoins Weekly Trade Volumes in BTC. Source: Coin.Dance The recorded trade volumes on LocalBitcoins are just a fraction of overall estimated Bitcoin trading by Venezuelans. As TrustNodes reports, a large amount of trading is taking place on centralized exchanges located…