Ripple (XRP) Price Rallies 15%: Bulls Now Aim $0.42 or Higher

Ripple price surged higher and broke the $0.3150 and $0.3300 resistance levels against the US dollar. The price even broke the $0.3500 resistance and tested the $0.3750 resistance area. There was a break above a major contracting triangle with resistance at $0.3240 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair traded as high as $0.3778 and it may continue to grind higher towards $0.4000 or $0.4200. Ripple price rallied significantly above $0.3500 against the US Dollar, plus recovered versus bitcoin. XRP is now well…

Ethereum (ETH) Price In Uptrend: New Highs Above $210 Likely

ETH price gained momentum and traded to a new monthly high at $210 against the US Dollar. The price corrected lower, but it remains well supported on the downside near $192. Yesterday’s highlighted key bullish trend line is active with support near $192 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to climb above the $205 and $210 resistance levels in the near term. Ethereum price climbed above $200 once again versus the US Dollar after bitcoin broke $8,000. ETH price is in a…

ETH to Become 1,000 Times More Scalable Within 24 Months

Ethereum (ETH) co-founder Joseph Lubin said that the Ethereum blockchain will become about 1,000 times more scalable in 18 to 24 months. Lubin made his remarks during an interview with Cointelegraph on May 11. Lubin specified that the development which will bring such a drastic scalability increase to the ecosystem will be Ethereum 2.0, also called Serenity. He explained that the development is divided into four phases and that eight groups are already developing clients for the new chain. Lubin also promised: “In a small number of months, we should…

Bitfinex CTO Reinforces Rumors Exchange Has Raised $1 Billion in IEO

The CTO of cryptocurrency exchange Bitfinex appeared to confirm the entity had raised $1 billion in fresh investment in new social media comments on May 13. Following rumors that began with a major shareholder in the platform announcing $1 billion confirmed in hard and soft commitments, CTO Paolo Ardoino took to Twitter on Monday to report that Bitfinex’s private token sale, which ended May 11, had sold out. The sale, which involves new in-house LEO tokens via a so-called initial exchange offering (IEO), comes as Bitfinex grapples with a funding…

Crypto Hedge Funds Saw 46% Loss in 2018 Bear Market, PwC Report Says

The 2018 cryptocurrency bear market cost the median crypto hedge fund almost 50%, a new survey headed by PwC revealed on May 12. According to the findings, around 150 cryptocurrency hedge funds survived last year, which saw bitcoin (BTC) falling from $20,000 to just $3,000. Of those, the median loss came in at 46%, while quantitative funds — which take bets on price drops in bitcoin and altcoins — still managed to achieve overall returns of 8%. The figures underscore a troublesome time for the still-nascent crypto financial instrument economy,…

Consumer Electronics Giant HTC Announces Bitcoin Full-Node on Exodus 1S Smartphone

Consumer electronics giant High Tech Computer (HTC) announced the Exodus 1S smartphone with bitcoin (BTC) full node capability in a press release shared with Cointelegraph on May 11. In the press release, the company claims that the value-oriented version of the smartphone will be released at the end of the third quarter of 2019. Building on the first generation of the company’s blockchain smartphone, Exodus 1, HTC claims that it will be the first smartphone to provide full node capability. The release states that the phone will contain the full…

Ampleforth Publishes Updated White Paper for Non-Correlated, Price-Stable Digital Asset

Ampleforth — the developer of a new synthetic commodity designed to diversify risk — has released an updated white paper for its digital asset protocol. The paper was shared with Cointelegraph in an email on May 13. Citing prior researchers, the white paper’s co-authors define a synthetic commodity as “money that has absolute scarcity but lacks non-monetary use value” — whose possibility was heralded by the innovation of blockchain technology back in 2008. According to the press release, the design for the Ample token — expected to be traded under…

Bitcoin Worth Over $7,400 Again as US Stock Market Sees Moderate Downturn

Monday, May 13 — most of the top 20 cryptocurrencies are reporting moderate gains on the day by press time, as bitcoin (BTC) has crossed the $7,400 mark. Market visualization courtesy of Coin360 Bitcoin is up over 5.2% on the day, trading at $7,431 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin is up over more than 22%. Bitcoin 7-day price chart. Source: CoinMarketCap As Cointelegraph reported earlier today, consumer electronics giant HTC announced the future launch of the Exodus 1S smartphone with bitcoin full node capability.…

Almost 12% of US Cryptocurrency Holders Are Long-Term Investors

Almost 12% of crypto holders are long-term investors, according to a survey shared with Cointelegraph on May 13 by HBUS, the operator of United States-based cryptocurrency exchange Huobi. The company reportedly surveyed 1,067 American participants between March and April this year, finding that 19.58% of people with an income higher than $99,000 per year are actively holding cryptocurrency. Still, people earning between $125,000 and $149,000 are the most likely to invest in crypto assets, according to the survey. The report also claims that in 2018, 8% of the respondents invested…

Charles Hoskinson to Launch Security Token Blockchain With Polymath

Security token platform Polymath will build a separate blockchain for regulation-compliant tokens with an Ethereum (ETH) co-founder, the company confirmed in a blog post on May 13. Polymath, which has already contributed to the launch of over 100 security tokens, will now work with Charles Hoskinson on a new project dubbed Polymesh. Hoskinson, who after Ethereum became known for his subsequent cryptocurrency projects Cardano (ADA) and IOHK, will leverage his expertise to inform the development of the new platform. The partners confirmed the plans at the ongoing Consensus 2019 conference…