This Scenario Will Trigger A New Ripple Rally: Key Levels To Watch

Ripple corrected lower sharply from $0.2450, but it found support near $0.2200 against the US Dollar, similar to bitcoin near $8,500. XRP price is recovering, but it must surpass $0.2360 for a fresh rally. Ripple price is showing positive signs above the $0.2250 and $0.2280 support levels against the US dollar. The price is facing hurdles near the $0.2350 and $0.2360 levels. There is a new contracting triangle forming with resistance near $0.2360 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair must climb above…

Ethereum Set For Further Gains In Light of Fresh Technical Breakout

Ethereum found support near the $158 level and started a fresh increase, similar to bitcoin. ETH is gaining momentum and it could soon break the $170 resistance. Ether price started a fresh increase after it found support near $158 against the US Dollar. Bitcoin price is also rising and trading nicely above the $8,650 level. Yesterday’s highlighted key declining channel was breached with resistance near $165 on the hourly chart of ETH/USD (data feed via Kraken). The pair is now showing a lot of positive signs and it could continue…

The Kindest Cut: Why the 2020 Bitcoin Halvening Is the Most Important Yet

In May of 2020, bitcoin will see its next halving: the reduction of the reward for successfully mining a block. The Nakamoto white paper specifies that every 210,000 blocks, the reward for successfully mining a block is cut by half. But while these occur roughly every four years (with the estimated reward dropping to one Satoshi on or around the year 2140), the Bitcoin Halvening of 2020 is particularly momentous. At present, the reward for mining a block is 12.5 BTC; in May, the reward for successfully adding a block…

Huobi Joins Blockchain Turkey Platform to Boost Local Ecosystem

Major crypto exchange Huobi becomes a member of the Blockchain Turkey Platform to cooperate with local players on blockchain efforts. Five months after officially entering the Turkish market, Huobi joined the Blockchain Turkey Platform as a “Platinum” member, the global crypto exchange announced on Jan. 15, according to a press release shared with Cointelegraph Turkey. Founded by the Turkish Informatics Foundation in 2018, the Blockchain Turkey Platform (BCTR) is an independent, non-profit organization that aims to create a healthy blockchain ecosystem in Turkey. The platform has members from banking and…

Deribit Takes On New Trading Tools to Capture ‘Exploding’ Options Market

Amid increasing activity within the crypto derivatives market, software maker Trading Technologies (TT) announced Wednesday it would provide trading tools to users of leading crypto exchange, Deribit. Included in the suite are advanced order types, charting and analytics as well as access to a feature allowing users to create algorithms for bot trading. TT users eligible to trade on Deribit will be able to access all listed products, including bitcoin (BTC) and ether (ETH) futures, perpetual and options contracts. Dutch-based (for another month) Deribit, founded in 2016, is now the…

Anchorage, Bison Trails Execs to Helm Libra’s New ‘Technical Steering Committee’

The Libra Association announced Thursday it had formed a technical steering committee to coordinate the design of the Libra platform. The new committee, composed of Anchorage co-founder Diogo Monica, Calibra core product lead George Cabrera III, Bison Trails founder Joe Lallouz, Union Square Ventures partner Nick Grossman and Mercy Corps emerging technology director Ric Shreves, was formed on Dec. 16, 2019, according to an announcement on the Libra developers page. It’s the latest incremental update to the Libra roadmap following a wave of founding member defections last October. The newly-announced…

CabbageTech CEO Sentenced to 33 Months in Prison After Pleading Guilty in Fraud Case

Patrick McDonnell was sentenced to 33 months in federal prison Thursday after pleading guilty to charges of defrauding investors in his crypto trading firm CabbageTech, otherwise known as Coin Drop Markets. McDonnell was also ordered to pay back his victims $224,352, according to the U.S. Attorney’s Office for the Eastern District of New York. Thursday’s sentencing caps McDonnell’s back-to-back legal fights with the federal government, which saw the 47-year-old New York resident in civil and then criminal court on fraud charges. He pleaded guilty in June 2019, a press release stated.…

Currency ‘Cold War’ Takes Center Stage at Pre-Davos Crypto Confab

ST. MORITZ — The United States may be entering a second Cold War, according to some investors, who seem mildly curious but otherwise unconcerned about the prospect. “It’s a kind of Cold War, but not just for crypto,” said Multicoin Capital’s Beijing-based partner Mable Jiang. “Currency is the leverage.” Jiang said China’s goal is to leverage the rise of cryptocurrency, including both domestic bitcoin mining and a state-issued digital currency, to supplant the dollar and become the world’s leading economic power. Such rivalries feel lightyears away in the frosted Swiss…

VC Giant Grayscale Investments Reports Record-Breaking Year

Venture capital firm Grayscale Investments banked a stellar 2019 to surpass the $1 billion mark in total investments.  By the numbers In a comprehensive eighteen-page report, the firm touted a record Q4 in 2019. It raised $225.5 million into its investment products, lifting the year’s inflow to $607.7 million after back-to-back quarterlies over $225 million, possibly signaling a larger market trend.  71 percent of the year’s inflow sprung from institutional investors. Managing director Michael Sonnenshein told Cointelegraph:  “We saw record-breaking investment into Grayscale’s family of products, illustrating continued demand from…

US Lawmakers Try Again on Tax Relief for Small Crypto Payments

U.S. lawmakers have resurrected a bipartisan push to exempt gains from small cryptocurrency transactions from being taxed.  On Thursday, Reps. Suzan DelBene (D-Wash.), David Schweikert (R-Ariz.),  Darren Soto (D-Fla.) and Tom Emmer (R-Minn.) introduced “The Virtual Currency Tax Fairness Act of 2020,” an amendment to IRS tax code that would exempt realized gains under $200, otherwise known as a de minimis threshold. From a practical standpoint the bill could simplify the tax burdens of day-to-day crypto users who must report even marginal capital gains under current federal law. This is…