Ethereum (ETH) Price Prediction: Primed To Surpass $325

ETH price remained well bid above the key $300 support area against the US Dollar. The price is currently moving higher and is placed nicely above the $310 pivot level. There is an ascending channel forming with support near $309 on the hourly chart of ETH/USD (data feed via Kraken). Bitcoin price is also gaining momentum and it could trade further above $11,500. Ethereum price is slowly gaining traction above $310 versus the US Dollar, whereas consolidating vs bitcoin. ETH price is likely to break the $320 and $325 resistance…

Ethereum-Based Synthetic Asset Platform Loses Over 37M Tokens in Oracle Attack

The Ethereum-based synthetic asset issuance platform Synthetix has lost over 37 million synthetic ETH (sETH) in an oracle attack, according to a report by The Block on June 24. While the amount of sETH in question is known to be over 37 million, the price of this loss in U.S. dollars is reportedly unknown due to its relative illiquidity on secondary markets. Synthetix allows users to mint and trade synthetic currencies peer-to-peer (P2P) on the Ethereum blockchain. One such synthetic currency is the token sETH, which apparently tracks the price…

AICPA Proposes New Standards That Would Apply to Blockchain-Based Audit Data

The American Institute of Certified Public Accountants (AICPA) has proposed a new set of standards for audit evidence including accommodation for blockchain-based data, according to a report by trade publication Accounting Today on June 24. The new proposal, the so-dubbed Proposed Statement on Auditing Standards (SAS), Audit Evidence, will purportedly set guidelines on how preparers and auditors should evaluate audit evidence that is based on new tech such as blockchain and data analytics.  The new standards are apparently a source-indifferent, multidimensional set of metrics for evaluating audit data. The aim…

Crypto Analyst Says Bitcoin Price Could Hit $100,000 During Next Bull Run

ThinkMarkets chief market analyst Naeem Aslam predicts that bitcoin (BTC) will hit somewhere between $60,000 and  $100,000 during its next bull run, according to a Fox Business interview on June 24. Aslam had previously predicted on June 17 that BTC would hit $10,000 in “a couple of weeks,” citing institutional involvement as a major driver. Bitcoin successfully reached the five figure mark on June 22, marking a record high that has not been seen in over one year. According to Aslam, the major price points to look out for now…

President of Uganda to Lead Blockchain Conference in Kampala in July

The President of Uganda, Yoweri Museveni, will officiate the 2019 Africa Blockchain Conference, according to a report by Kabuubi Media Africa on June 24 According to the report, The 2019 Africa Blockchain Conference — not to be confused with  The Blockchain Africa Conference 2019 which occurred in April — will be held from July 3 to July 4, and the theme is ’Africa 4.0:  Preparing Africa for the 4th Industrial Revolution.’ The conference topics will reportedly include fintech, payment systems, and the future of education. President Museveni reportedly supported the…

Bitfinex CTO Hints at Maximum Leverage for Upcoming Derivatives Trading

Cryptocurrency exchange Bitfinex CTO Paolo Ardoino hinted at the maximum leverage for the exchange’s upcoming derivatives trading, in a tweet published on June 24. In the tweet, Ardoino purportedly indicated the maximum leverage for Bitfinex’ forthcoming derivatives trading, which resulted in a heated discussion between community members. In response to the answer whether it will be an isolated leverage, Ardoino said that it will be isolated at the beginning, adding that it is better for risk management. Ardoino also revealed that instruments with high leverage will be used separately from…

98% of BSV Transactions Used for Writing Weather Data on Blockchain: Report

More than 98% of transactions on the Bitcoin SV blockchain over the past 30 days have been used for writing data from a weather app, Twitter personality Painted Frog noted today, June 24. Citing data from bitcoin cash (BCH) blockchain visualiser Trends.cash, Painted Frog noted that the vast majority of BSV transactions have been implemented so far for sharing weather data through bitcoin sv-powered app WeatherSV.   Performed actions on BSV blockchain over the past 30 days. Source: Trends.cash According to the website, other BSV implementations over the past 30…

US House of Representatives to Hold Hearing on Facebook’s Libra in July

The United States House Financial Services Committee will be holding a hearing on the social media giant Facebook’s proposed virtual currency Libra on July 17, according to a press release on June 24. The announcement comes by way of committee chairwoman Rep. Maxine Waters, who previously had called on Facebook to cease work on Libra until Congress and regulators had a chance to scrutinize the proposal: “Given the company’s troubled past, I am requesting that Facebook agree to a moratorium on any movement forward on developing a cryptocurrency until Congress…