Ethereum Price (ETH) Facing Key Resistance: Can Bulls Overcome $200?

ETH price recovered recently and managed to climb above the $190 resistance against the US Dollar. The price is now trading nicely above the $190 and $192 resistance levels. There is a connecting bullish trend line forming with support near $188 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue higher, but the $202 resistance is likely to cap the upside. Ethereum price is climbing higher towards key resistances versus the US Dollar, similar to bitcoin. ETH price is likely to face a…

Second-Largest Indian State to Use Blockchain in Various Spheres

The government of the Indian state of Maharashtra is preparing a regulatory sandbox for testing blockchain solutions across various applications.  According to a report by Indian English-language news daily DNA India on Aug. 19, the government aims to apply blockchain technology in supply chains, agricultural marketing, vehicle registration and document management.  The Maharashtra Information Technology Directorate will lead the development and the government has already earmarked 100 million rupees (~$1.4 million) for blockchain adoption from 2019–2020. 40 million ($560,000) has been approved outright by the implementation committee. State IT department…

Coinbase and Barclays Part Ways, Will UK Users Be Affected?

It is being reported that Barclays, the London-based global bank, recently stopped banking for Coinbase, the United States-based crypto exchange. Coinbase reportedly found a quick replacement in the form of another United Kingdom-based establishment, ClearBank.  While Barclays connected San Francisco-based Coinbase to the U.K. Faster Payments Scheme (FPS), enabling instant withdrawals and deposits of British pounds at the exchange, ClearBank won’t offer the exchange the same service until at least the end of Q3 2019. Deposits and withdrawals in pounds for Coinbase’s U.K. customers, which once took seconds, will for…

Would Blockchain Better Protect User Data Than FaceApp? Experts Answer

FaceApp — the mobile application that has blown up your Instagram feed with pictures of your followers as old people, the opposite gender or babies — has raised a lot of concerns about potential privacy violations for users that upload their photos to be edited. Rumors have circulated that the application might even be taking users’ photos from their phones and uploading them to the FaceApp cloud server without explicit permission.  We reached out to experts in security and data privacy from academia, government agencies, startups and more to comment…

Silvergate Bank Plans to Offer Cryptocurrency-Collateralized Loans

The holding company of cryptocurrency-friendly Silvergate Bank, Silvergate Capital Corporation, announced that the firm plans to offer cryptocurrency-collateralized loans. In an S1/A form filed with the United States Securities and Exchange Commission on Aug. 15 the bank notes: “We believe there may be attractive opportunities to provide digital currency borrowing facilities to deepen our high quality customer relationships and further enhance our interest income.” In the document, the firm states that it found significant demand for cryptocurrency-related borrowing. The service would consist of the client providing crypto assets or U.S.…

Bitcoin Circles $10,400 as Altcoins Rally, XRP Posts 10% Gains

Sunday, Aug. 18 — Crypto markets are seeing a strong surge of green, with altcoins posting the strongest gains and Bitcoin (BTC) circling the $10,400 mark. Market visualization. Source: Coin360 After yesterday’s correction, BTC is today up nearly 2%, bringing it to $10,393 by press time.  While still roughly $1,000 short of its price point at the start of its 7-day chart,  (Aug. 11), today’s recovery has kept the top coin comfortably above the $10,000 psychological price point. During a brief downturn mid-week on Aug. 15, Bitcoin had dropped as…

US Lawmakers to Visit Switzerland to Discuss Crypto, Facebook’s Libra

A delegation of the United States House of Representatives will visit Switzerland on cryptocurrency concerns, with Facebook’s not-yet-released stablecoin Libra being in the focus. As local weekly news outlet NZZ am Sonntag reported on Aug. 17, a six-member delegation from the House Financial Services Committee is going to meet with Swiss Federal Data Protection and Information Commissioner (FDPIC) Adrian Lobsiger to exchange views about digital currencies. A spokesperson told NZZ am Sonntag that Libra will be the focal point of the dialogue between the regulator and U.S. lawmakers. The delegation…

$240M in Suspected Scheme Assets Moves in Four Bitcoin Transactions

Over $240 million in proceeds from the alleged crypto scheme PlusToken have reportedly moved through four Bitcoin (BTC) transactions. Whale Alert — a Twitter account dedicated to reporting large cryptocurrency transactions — posted on Aug. 17 that four transactions totaling 22,923 BTC were likely the proceeds of PlusToken. The four transactions moved 6,000 BTC, 5,000 BTC, 7,000 BTC and 4,923 BTC. All the transactions took place on Aug. 17. The monitor admits that, while the transactions are likely associated with the purported scheme, they are unconfirmed.  Largest reported exit scam…

3 Gaping Holes in the Limited Supply Thesis Parroted by Bitcoin Shills

Bitcoin may have limited supply, but demand will not be unlimited. Once bitcoin is revealed to be worthless, demand will dry up. | Source: Shutterstock By CCN Markets: As the resident “Bitcoin Skeptic” here at CCN, it’s my job to provide some level – headed arguments about why you should be extremely careful about buying or trading bitcoin, or any other cryptocurrencies. Don’t be a sucker. And ignore hype from the media. Today I’m focusing on the argument that bitcoin’s limited supply will mean that the cryptocurrency is always in…