Day: September 2, 2019

Ethereum Price (ETH) Struggling Near $180 While Bitcoin Breaks Key Resistance

TradingBTC

ETH price recovered nicely above the $172 and $175 resistance levels against the US Dollar. The price is currently struggling to break an important resistance area near the $180 level. There is a new key bullish trend line forming with support near $175 on the hourly chart of ETH/USD (data feed via Kraken). Bitcoin price surged more than 6% in the past few hours and broke the main $10,000 resistance. Ethereum price is testing key resistance after a decent rally versus the US Dollar, and bitcoin is up 6%. ETH…

Most Cryptocurrencies in the Green as Bitcoin Price Hits $10,400

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Monday, Sept. 2 — Markets are bouncing back and showing upward price movement, after trading sideways for the better part of the day. Market visualization. Source: Coin360 The Bitcoin (BTC) price is showing impressive price movement, after trading close to $9,700 for most of the day. At press time the number one cryptocurrency is trading at $10,401, up 6.63% on the day. Bitcoin 24-hour price chart. Source: Coin360 Cointelegraph reported earlier that Bitcoin is attempting to bounce from the trendline of the symmetrical triangle, and if the BTC/U.S. dollar pair picks up…

Binance Acquires Seychelles-Based Crypto-Asset Trading Platform JEX

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Binance, the world’s largest exchange by trading volume, has acquired JEX, a crypto-asset trading platform that offers spot and derivatives trading services.  The exchange announced the acquisition on Sept. 2, saying, “JEX will join the Binance ecosystem as Binance JEX and focus on further building the crypto-asset derivatives market.” According to the announcement, Binance will introduce more utility to the JEX token and further provide Binance users with professional services including futures contracts, options and other derivative products. Binance shows growing interest in the cryptocurrency derivatives market Binance’s acquisition of…

Police Seize $15K Crypto Thief After He Mistakenly Disclosed Identity

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Connecticut police caught a man who had stolen over $15,000 worth of digital currency in a mobile phone theft after he mistakenly sent an apology email to a detective heading the investigation. Back in April, a Connecticut resident fell victim to a cryptocurrency theft by New Jersey citizen Darren Carter, wherein the latter swiped the victim’s mobile phone and allegedly transferred $15,472 worth of crypto from their Coinbase account. Carter subsequently converted the funds to U.S. dollars that he transferred to his PayPal account, New Jersey-focused news outlet NJ.com reported…

Indian IT Giant Tech Mahindra to Launch Blockchain Finance Management

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Tech Mahindra, the IT subsidiary of Indian conglomerate Mahindra Group, partnered with American distributed ledger technology (DLT) firm Adjoint to launch a blockchain financial management and insurance solution. Telecommunications industry news outlet CommsMEA reported on Sept. 2 that the solution is the first of its kind. With this service, clients will reportedly be able to save $4 million for every $1 billion of financial risk management and banking relationships. Auditable data recording Per the report, users of the new system will be able to validate the business case with their…

South Korea’s Kakao May List Its Klay Token on Chinese Exchange

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South Korean internet giant Kakao is reportedly planning to list its cryptocurrency Klay on a Chinese crypto exchange and one local exchange. Kakao might have trouble listing Klay in Korea According to a report by local news daily News1 Korea on Aug. 31, Kakao’s blockchain arm Ground X is in talks with two popular cryptocurrency exchanges for listing its native coin Klay. While News1 Korea does not specify the names of the exchanges, an official familiar with the internal situation at Ground X reportedly said that Kakao might have trouble…

Thai Cryptocurrency Exchange Bitcoin Co. Ltd. Closing Down Operations

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Thailand’s leading cryptocurrency exchange Bitcoin Co. Ltd. (BX.in.th) is closing down all of its trading operations. The exchange announced its decision to discontinue trading on Sept. 2. The official website of the exchange states: “Bitcoin Co. Ltd. has decided to discontinue offering digital exchange services and wallet services at our BX.in.th website in order to focus on other business opportunities.” Customers need to withdraw their funds before Nov. 1, 2019. The five-year-old exchange, which was regulated by the Thai Securities and Exchange Commission, will not seek to hold a Digital…

HSBC Completes First Blockchain Letter of Credit Transaction in Yuan

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Banking and financial services giant HSBC has completed the first yuan-denominated letter of credit transaction on a blockchain using the Voltron trade finance platform. As Reuters reported on Sept. 2, HSBC conducted the first blockchain-based yuan-denominated letter of credit transaction deploying R3’s Corda-powered Voltron platform. In the cross-border  transaction, Hong Kong-based electronics manufacturer MTC Electronics exported a shipment of LCD products to its parent firm Shenzhen MTC. 24 hours instead of ten days The blockchain platform ostensibly enabled the parties to exchange electronic documents in 24 hours instead of the…

Silver and Gold Ruled the August Roost but How Did Bitcoin Fare?

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Silver and gold are finally drawing some attention from market participants thanks to a stellar performance from precious metals in August. | Source: Shutterstock; Edited by CCN Silver and gold are finally drawing some attention from market participants thanks to a stellar performance from precious metals in August. After several years of sideways price action, commodity bulls may finally be ready to break out the champagne. According to German market commentator Holger Zschaepitz, silver outshined its big brother by an impressive 5% to record a solid 13% gain in the…

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