Ethereum Price (ETH) Correcting Gains: Dips Favored Near $224

ETH price extended gains above the $230 resistance and climbed above $235 against the US Dollar. The price tested the $237 level and it is currently correcting gains. There are two bullish trend lines forming with support near $226 and $222 on the hourly chart of ETH/USD (data feed via Kraken). The pair could find a strong buying interest near the $224 and $225 support levels in the near term. Ethereum price is correcting gains from $237 versus the US Dollar, and bitcoin is holding $11,500. ETH price could test…

Japanese Crypto Exchange Bitpoint Restarting Trade Services

Japanese crypto exchange Bitpoint is resuming some trading services following a $28 million hack in mid-July. Bitpoint is re-opening cash deposits and withdrawals in fiat currencies on August 6th following a safety assessment of the exchange’s cryptocurrency wallet. According to CoinDesk Japan, the hacked wallet is no longer in use and therefore not under threat. Margin trading services will begin August 9th. The exchange says margin trading utilizes a similar wallet to fiat withdrawals. Spot trading will open on August 13th. Bitpoint confirmed later the stolen crypto assets included 1,225…

Bitcoin Hovering Under $12,000 in Recent Surge, Major Altcoins See Green

Tuesday, July 30 — The number one cryptocurrency, Bitcoin (BTC), appears to have stabilized shy of $12,000 after quickly retaking $11,000 in a rally this weekend. Ether (ETH) and XRP are seeing slight gains at press time. Market visualization. Source: Coin360 Bitcoin is trading around $11,700 at press time, with a 3.3% gain on the day. Bitcoin shot up quickly to over $11,500 within about four hours on Sunday, Aug. 4, subsequently reaching $11,800 on Aug. 5, but has subsequently settled a little lower at press time.  Bitcoin 7-day price…

Trading Platform EToro Adds Support for Tezos Amid Price Surge

EToro, a United Kingdom-based exchange and social network for investors and traders, has rolled out trading support for Tezos (XTZ) on Aug. 5. As eToro tweeted today, Tezos, the 16th-top cryptocurrency by market capitalization, is now available for trading on the platform. According to a press release, Tezos has become the 15th crypto asset to join eToro, following Bitcoin (BTC), Ether (ETH), XRP, Bitcoin Cash (BCH), Litecoin (LTC), Ethereum Classic (ETC), Dash (DASH), Stellar (XLM), NEO, EOS, Cardano (ADA), IOTA (MIOTA), ZCash (ZEC) and Tron (TRX). EToro co-founder and CEO…

Web3 Foundation Director Resigns to Pursue DAO Projects

Web3 Foundation (W3F) director Ryan Zurrer has announced that he is stepping down from his role at the decentralized web-focused nonprofit to pursue his interest in investments and decentralized autonomous organizations (DAOs). Zurrer expounded on his departure in a series of Twitter posts on Aug. 5. Zurrer explained that he will be gradually removing himself from the organization, partially in light of its current success. In June, W3F managed the token sale of blockchain interoperability protocol Polkadot (DOT). Zurrer said: “With the success of the DOTs sale, the success of…

Walmart Crypto Project More Agreeable to Lawmakers Than Libra

A senior policy analyst at investment banking corporation Cowen, Jaret Seiberg, said that Walmart’s proposed digital coin should not face as much regulatory pushback as Libra, Facebook’s proposed virtual currency. As Bloomberg reports on Aug. 5, Seiberg also added that Walmart’s crypto may have a demographic appeal to Democratic legislators who are keen to find an alternative financial infrastructure for people who do not regularly use banks. According to Seiberg, Libra and Walmart’s crypto proposal differ in scale. Seiberg comments that Facebook has global intentions which do not appear to…

Co-Founder Sues Israeli Blockchain Firm for Breach of Contract

Co-founders of Israeli blockchain firm Orbs are being sued by former partner Elad Arad following the dissolution of his shares in a failed joint venture, Cointree Capital. According to Israeli business media Globes, Arad is suing partners and brothers Uriel and Daniel Peled, Orbs, Cointree Management Microverse, Hexa Labs, and Hexa Solutions following a failed 18-month mediation in a Tel Aviv court. Arad claims the brothers committed “conspiracy, deceit and serious fraud, as well as unlawful enrichment.” The official report accuses the brothers of breach of fiduciary duty, oppression of a…

Bittrex Crypto Exchange Transitions to ERC-20 Implementation of Tether

American cryptocurrency exchange Bittrex has completed switching Tether (USDT) from the OMNI-based implementation of the stablecoin to the ERC-20 standard on the Ethereum network.  Bittrex announced that USDT deposits and withdrawals are now open in a tweet on Aug. 5. The exchange had temporarily suspended USDT deposits and withdrawals while making the switch.   “Quicker, cheaper, and more inter-operable transfers” Bittrex initially announced that it would be switching protocols on July 25. With the move, Bittrex is looking to provide its users with faster, cheaper and more inter-operable transfers of USDT.…

US Federal Reserve Launching Payment System, Crypto Bulls Nonplussed

The United States Federal Reserve Board is planning to release a real-time payments and settlements service in order to boost the payments infrastructure in the country. A press release published on Aug. 5 reads that the Board of Governors of the Federal Reserve System has requested that Federal Reserve Banks develop a new interbank real-time settlement service to support faster payments in the U.S. The payment system is called FedNow and will purportedly launch in 2023 or 2024. By launching FedNow, the Fed aims to modernize the country’s payment system…