Ethereum (ETH) Price Above $185 Would Make Case For Larger Rally

ETH price is showing positive signs above the $172 and $170 support levels against the US Dollar. The price is currently trading near $180 and it might soon retest the $185 resistance area. Yesterday’s highlighted key bullish trend line is active with support near $172 on the hourly chart of ETH/USD (data feed via Kraken). The price is likely to accelerate gains if it succeeds in clearing the $185 resistance area. Ethereum price is slowly gaining momentum versus the US Dollar, similar to bitcoin. ETH price must break the $185…

US State of Ohio Suspends Service for Paying Taxes With Bitcoin

Ohio Treasurer Robert Sprague announced the immediate suspension of the OhioCrypto.com website that allows businesses to pay taxes with Bitcoin (BTC). In an Oct. 2 press release, Sprague announced that according to an internal review, approval by the Board of Deposit was required before Ohio launched the website that allowed businesses to pay taxes with digital currencies.  Furthermore, the State Board of Deposit has asked Attorney General Dave Yost to further research the legalities of how the crypto portal was set up and whether BitPay — the third-party processor that…

Telegram’s TON Blockchain Is on Track for Late-October Launch Date

Telegram Open Network (TON) is on track for its planned launch, according to an email from the company sent to TON investors on Wednesday. Mitja Goroshevsky, CTO of TON Labs, a startup building tools for TON developers, confirmed the authenticity of the email to CoinDesk, adding that TON Labs itself “will run and manage its own validation pool.” “Original investors received emails from the Telegram core team,” a post in the Telegram channel dedicated to the project said, adding that investors need to provide Telegram with their public keys by Oct. 16 using…

It’s Too Soon to Write Off Bakkt, Wall Street Analyst Tells ICE Investors

It’s too soon to write off Bakkt, despite the bitcoin futures market’s disappointingly slow start, analysts at Oppenheimer & Co. said. In an Oct. 1 research note, the equity research firm encourages investors to “not get upset” about the lackluster trading volume of Bakkt. For one thing, its parent company, Intercontinental Exchange, has plenty of other electronification initiatives in fixed income analytics and trading, mortgages and exchange-traded funds (ETFs), wrote Oppenheimer senior analyst Own Lau and managing director Chris Kotowski. Bakkt’s average daily futures volume was 125 contracts, each for…

Mastercard and Visa Reconsider Libra as Regulatory Criticism Intensifies

On Tuesday, the Wall Street Journal reported that MasterCard Inc. (NYSE:MA) and Visa Inc. (NYSE:V), among other financial partners, could be reconsidering their position in Facebook Inc.’s (NASDAQ:FB) cryptocurrency project Libra. Backers Not Ready for Criticism from Regulators The Journal report indicated that the financial backers of the cryptocurrency project are not ready to draw criticism from regulators. Libra has received criticism from legislators owing to the reputation of Facebook regarding how it has been handling personal information. Many have declined Facebook’s request to support Libra publicly. In an interview with…

Pantera Leads $5 Million Round for Decentralized Derivatives Market

A protocol built to put financial middlemen out of business has secured a $5 million seed round led by Pantera Capital. The Vega Protocol aims to make it feasible for people anywhere in the world to spin up markets for derivatives (futures, swaps, options, etc.) that can interact with each other and abide by relevant regulations. Other key investors joined the round, including Ripple’s Xpring, Hashed and KR1. Participants purchased an as-yet-unnamed ERC-20 token that will manage staking and governance services on the blockchain, according to Vega CEO Barney Mannerings.…

Financial Services Giant Morningstar to Offer Ratings for Crypto Assets

Morningstar Credit Ratings is planning an evaluation system for debt securities issued as tokens on a blockchain to make the emerging asset class more credible for investors. The new rating services could enable a migration of the $117 trillion debt securities industry, which is administered and governed by custodians and trustees, to a decentralized financial network, Michael Brawer, chief operating officer at Morningstar Credit Ratings, said in a Forbes interview on Tuesday. Billions of dollars investment would enter the crypto space as the new rating services can make the new asset class more…

Bitcoin Price (BTC) Remains Vulnerable Below $8,500

Bitcoin price struggled to climb above $8,500 and declined recently against the US Dollar. The price is currently trading below $8,300 and it could continue to decline towards $8,100. There was a break below an ascending channel with support near $8,275 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could decline further towards the $8,100 or $8,000 support in the near term. Bitcoin price is struggling to continue higher above $8,400 and $8,500 against the US Dollar. BTC must stay above $8,000 to start…

CNH Tether Avoids USDT Regulatory Risk

In late August various crypto media reported that Tether planned to issue a Chinese yuan-backed stablecoin. Bitfinex shareholder Zhao Dong told ChainNews that the stablecoin would be called CNHT and be held in offshore accounts. Zhao also said that his peer-to-peer lending platform, RenrenBit, had invested in the project and on Sept. 9 Tether officially announced the launch of CNHT.  At the time Zhao said:  “Personally, I think the offshore yuan stablecoin could boost the circulation of offshore renminbi and internationalize it. Regulators may be happy to see it proceed…

Crypto Market Cap And Bitcoin Facing Resistance: BCH, BNB, EOS, TRX Analysis

The total crypto market cap is facing a strong resistance near the $220.0B level. Bitcoin price is also trading below a crucial resistance area near the $8,500 level. EOS price failed to hold the $3.000 support and declined below $2.950. Binance Coin (BNB) is declining and it might test the $15.00 support area. BCH price struggled to clear the $235 resistance and it is currently trading towards the $220 support. Tron (TRX) price is down more than 5% and it broke the $0.0140 support area. The crypto market cap and…