Day: May 16, 2018

Bithumb has announced in a Tweet today that it will add five new cryptocurrencies to their trading lineup which may result in trading price spikes for all.

Bithumb adds Five New Currencies to its Exchange

One of the largest South Korean cryptocurrency exchanges Bithumb took to Twitter earlier to let its over 200,000 followers know that they have added five new coins today. The newly listed coins are TenX(PAY), WAX(WAX), Power of Ledger(POWR), Loopring(LRC), Gifto(GTO).

Today, we are listing FIVE NEW COINS
TenX(PAY), WAX(WAX), Power of Ledger(POWR), Loopring(LRC), Gifto(GTO)@TenX @wax_io @PowerLedger_io @loopringorg @gifto_io

PC : https://t.co/6MRxyQeeQV
MOBILE : https://t.co/pI2HiXVd9Q

— Bithumb (@BithumbOfficial) May 16, 2018

TenX(PAY) is the issuer of a cryptocurrency debit card that enables users access to multiple virtual currencies across different blockchains which the companies calls “the accessory you want to have on all your travels.”

Wax(WAX) is a decentralized platform that enables 400+ million gamers to operate virtual marketplaces according to their company description.

Loopring(LRC) Loopring is an opened source protocol based on smart contracts for decentralized exchanges on the Ethereum blockchain.

Gifto(GTO) Gifto is a decentralized protocol built on Ethereum that allows users to exchange virtual gifts through digital/social media platforms.

Power of Ledger(POWR) is an Australian blockchain-based cryptocurrency and energy trading platform that allows for decentralized selling and buying of renewable energy.

Bithumb has a History of Spiking Trading Prices

In the past Bithumb adding a coin to its exchange has resulted in some dramatic price spikes. In April OmiseGo was integrated into the Bithumb trading platform while getting additional support in the form of an airdrop by the exchange. The move triggered an 18.54% increase in the OMG coin trading price in 24 hours.

Other coins have had similar boosts from being listed on the South Korean exchange. TRON’s TRX coin went from trading at $.03 to $.05 two hours after Bithumb listed it, though an increase of two cents doesn’t sound like much the jump in value works out at a $1.2 billion increase to its total value.

In March the exchange launched an airdrop campaign to kick off it’s listing of ICON (ICX).  Demand for ICON skyrocketed in 24 hours when the trading volume of the cryptocurrency picked up from $53 million to $160 million, in approximately four hours.

With results like these in the past matched with exciting companies behind the newly listed coins like TenX and Power Ledger Reddit posters are chiming in on the move. “LRC and POWR deserve it, great projects!” Timknows wrote; possibly referring to the egalitarian motivation behind Power Ledger’s peer to peer energy sharing platform and the good work Loopring is doing with smart contracts.

 

Image from Shutterstock

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Japan-based global investment bank Nomura has announced a joint venture to establish a custody solution for digital assets, targeting institutional investment in crypto

The cryptocurrency based firm Circle announced it has raised $110Mn USD in a Series E fundraising round led by the Chinese firm Bitmain Technologies. Circle now joins Coinbase as one of the most well-funded cryptocurrency companies in the U.S., and the Boston-based firm has announced plans to issue a dollar-backed cryptocurrency called USD-C.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Circle Raises $110Mn — Plans to Launch Stablecoin

Circle has big plans ahead for its latest mobile project called ‘Centre’ while also revealing its plans to create a stable coin much like the currency Tether (USDT). Furthermore, the firm has raised $110Mn in a Series E funding round that included investors such as Bitmain Technologies, Blockchain Capital, Pantera, Digital Currency Group and other venture firms. In addition to the injection of capital, Circle says it is planning to launch a new cryptocurrency that is backed by the price and reserves of USD.

The company’s new token will be called ‘USD-C’ and based off of the Ethereum network. According to the Circle, the firm’s subsidiary ‘Centre’ project will manage the USD-C protocol. Circle feels a cryptocurrency that is tied to a fiat currency can add more value to the blockchain ecosystem.

“It is difficult to use something like bitcoin if the volatility is so high,” Circle’s founder and CEO Jeremy Allaire explains. “Something like this makes it more possible.”  

A Partnership With Bitmain

Circle also detailed that Bitmain will also be helping with the Centre project and the USD-C launch. “Bitmain will help Centre introduce multiple fiat stablecoins in a variety of geo-currency zones,” the company explains. Moreover, the company takes a jab at other ‘stablecoins’ utilized in the markets right now that lack transparency as the firm states:   

Existing fiat-backed approaches have lacked financial and operational transparency, have operated in unregulated jurisdictions with unknown banking and audit partners, and have been built as closed-loop ecosystems and closed proprietary technologies.

Circle says despite celebrating their fifth anniversary this fall they feel like they are just getting started. In addition to Centre and the new USD-C token that will launch this summer, Circle says it also has plans for Circle Invest, Circle Trade, Circle Pay, and the newly acquired Poloniex exchange.

“We see the future of the global economy as open, shared, inclusive, distributed, and powerful — not only for a few chosen gatekeepers, but for all who will connect,” Circle adds.

What do you think about Circle raising $110Mn in a funding round led by Bitmain? What do you think about this new USD-C idea they have? Let us know your thoughts on this subject in the comments below.

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Images via Shutterstock, Bitmain, and Circle. 

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Even though yesterday seemed to be a pretty positive day for most cryptocurrencies, today is completely different. More specifically, all currencies are in the red right now, with the NEO price dropped almost below $60 in the process. It is evident things will continue to remain volatile for quite some to come, but there will be a positive trend at some point later this year. For now, users will have to contend with the ups and downs as they come.

The NEO Price Drops by 10%

As is usually the case when the cryptocurrency markets go in the red, things can get troublesome fairly quickly. With Bitcoin losing nearly 6% of its value in the past 24 hours, it is only normal most altcoins will lose even more value in the process. When looking at the NEO price, it is evident the loss materializes in the form of a 10.21% decrease, which is on par with most altcoins on the market right now.

For the NEO price, this most recent decline pushes the value down to $61.21. It is not the value most NEO holders would like to see at this point in time, even though there is very little to be done about this current trend right now. This value is still higher than the NEO price in late October and early November of 2017, which eventually resulted in a massive price spike for all cryptocurrencies.

It is also interesting to note how the NEO price is losing so much value because of its decline against Bitcoin. With a 4.75% decrease in the NEO/BTC ratio, it is evident things will not necessarily improve anytime soon. Then again, this is the cryptocurrency industry, and surprising turns of events are pretty common these days. Until Bitcoin recovers, however, the NEO price will not see any major developments in the near future.

With $101.358m in 24-hour trading volume, the demand to buy and sell NEO seems to be on par with how things have looked over the past few weeks and months. Although there is no real spike or dip in overall trading volume to speak of, NEO is a semi-decent liquid market. This is on par with some of the other altcoins which have a similar market cap as of right now.

Looking over the exchanges ranked by NEO trading volume, Binance is clearly in the lead. Its BTC and USDT pairs represent 34.7% of all NEO trades. CoinEgg closes out the top three with another BTC pair. Bitfinex is the first exchange providing a fiat currency pair, and also the only one in the top five. Whether or not this will hinder future NEO price momentum, remains to be determined.

The way things stand right now, there is very little reason to be excited about any cryptocurrency market right now. There is nothing going the way most holders and speculators would like it to, but things can still turn around in the future. For now, the dip is in full effect, and it is evident this bearish pressure will not relent anytime soon. However, there will be a positive trend for all markets at some point in the future, albeit it remains to be determined when that trend will materialize exactly.

The Skychain platform, self-described as a blockchain infrastructure aimed to host, train and use artificial intelligence (AI) in healthcare, has announced its to launch its diagnostic system within weeks.

The company believes that the new alpha version of its infrastructure can identify conditions in patients and prescribe appropriate treatments in milliseconds, substantially reducing the risk of human error during the crucial diagnosis stage, Cointelegraph reports.

The beta version, Skychain estimates, will be released in December with an official launch by summer of 2019, although the company claim that early participants, including hospitals, medical AI developers, and healthcare data providers will have access to a “fully built” ecosystem by June.

Skychain’s aim is to eliminate human medical errors, claiming that this is now the third most common cause of death in the US. The company suggests that are numerous cases of misdiagnosis due to X-ray analysis, citing a study which has recorded that human error causes 250,00 premature deaths each year. According to the company, when doctors analyze X-ray lung images, they fail to diagnose early lung cancer in as much as 69% of cases.

Cointelegraph reveals Skychain assertions that the technology is more effective at diagnosing skin, lung and cardiovascular diseases than some highly experienced doctors. The company claims that its system identifies conditions in an average of 0.1 seconds, compared to the 20-30 seconds that doctors need to make their conclusion.

Skychain spoke of the effect of fatigue on medical practitioners; one of the problems the AI system is designed to combat:

“In real life, medical professionals may get tired or be in low spirits; they may also lack the necessary experience, specialize in a different area, or be biased… Each of these factors can have a negative impact on the accuracy of a diagnosis. Moreover, a machine learning system can easily analyze a poorly structured medical history or wade through large amounts of data.”

Figures published by Healthcare Financial Management Association estimate that in 2016 alone, misdiagnosis cost the US economy a massive USD 20.8 billion. Skychain’s mission is to save 10 million patients from premature death due to medical errors within 10 years.

 

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Various technology companies do not take kindly to cryptocurrency ads. Google has banned such advertisements in the past. Facebook took a similar stance not that long ago. Now Microsoft is barring all related advertisements from its Bing search engine. None of these developments are positive, yet they aren’t the issue for any recent cryptocurrency price dip.

Bing Gets rid of Cryptocurrency ads

It was a matter of time until the next company decided to crack down on cryptocurrency advertisements. Said company is none other than Microsoft. The decision has been made to start banning cryptocurrency ads from Bing in July 2018. This move applies to any cryptocurrency, related companies, unregulated options, and initial coin offerings.

It is true the lack of cryptocurrency regulation can be considered to be a big problem in this regard. Microsoft told Investing.com how these unregulated products pose a “possible elevated risk to our users”. An interesting way of phrasing things, although it also makes sense. There is a growing number of cryptocurrency-related scams which gain traction due to paid advertisements on search engines.

Microsoft joins a growing list of companies effectively cracking down on cryptocurrency advertisements. None of these moves is overly surprising either. The hype surrounding Bitcoin and altcoins is very tangible. As such, criminals try to take advantage of this momentum by launching nefarious projects. Preventing that from happening is not easy. Removing any advertisement opportunities is a logical step. Its impact on the cryptocurrency industry will be fairly minimal.

What is Causing the Price Dip?

According to media outlets, the decision by Microsoft and Bing is the main reason for the recent cryptocurrency dip. Others claim this week’s “big event” failed to get people excited. As is usually the case, the truth lies somewhere in between. Removing cryptocurrency ads from Bing does not trigger a sell-off in the world of Bitcoin and altcoins. Neither did the decisions by Google, Facebook, and others.

Cryptocurrency is a very volatile market, as it always has been. There has been a growing amount of negative pressure on the market since early 2018. It seems that pressure is not relenting, although it is impossible to pinpoint an exact reason. The dips will be bought and the cycle will repeat itself for some time to come. Despite this negative pressure, the industry experts are convinced positive trends are on the horizon.

Whether or not Bitcoin will hit $50,000 this year, remains to be seen. It seems highly unlikely right now, but people assumed the same for reaching $15,000 last year. Until the proper regulation is in place to calm most people’s nerves, this volatility will remain in place. Various countries are working on drafting guidelines, but it is a painstaking process.

 

Image from Shutterstock

The post Microsoft’s Bing to Remove all Cryptocurrency Ads, Industry Impact is Minimal appeared first on NewsBTC.

Although R3 still uses the word “blockchain” to help market their product, Corda has no chain of blocks at all. More than any other “distributed ledger” platform I’m aware of, Corda departs radically from the architecture of conventional blockchains.

Key Points

• Bitcoin price failed to capitalize above $8,800 level and declined sharply against the US Dollar.
• BTC/USD broke this week’s ascending channel with support at $8,500 on the hourly chart (data feed from Kraken).
• The pair settled below a key support at $8,400 and the 100 hourly simple moving average.

Bitcoin price made a sharp U-turn from $8,800 against the US Dollar. BTC/USD is now trading well below $8,500 with a few bearish signs.

Bitcoin Price Analysis

The past two days were mostly positive for bitcoin price above the $8,600 support against the US Dollar. However, the price failed to move above the $8,800 resistance area. Buyers struggled to place the price above $8,800, which resulted in a downside move. The price declined sharply and broke a couple of support levels such as $8,700, $8,600 and $8,400.

The decline was substantial as the price settled below a key support at $8,400 and the 100 hourly simple moving average. During the decline, BTC/USD broke this week’s ascending channel with support at $8,500 on the hourly chart. The pair traded close to the $8,000 support level and a low was formed at $8,080. At the moment, the price is consolidating above $8,000s, with an initial resistance around the 23.6% Fib retracement level of the last decline from the $8,854 high to $8,080 low. However, the most important hurdle on the upside is at $8,400 and $8,500, which were supports earlier.

Looking at the chart, the price action suggests a lot of bearish signs below $8,500. It may correct a few points in the short term, but it is likely to face sellers on the upside near $8,500. On the downside, a break below the $8,000 support may perhaps push the price further into a bearish zone.

Looking at the technical indicators:              

Hourly MACD – The MACD for BTC/USD is placed nicely in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI is currently moving higher from the oversold levels.

Major Support Level – $8,000

Major Resistance Level – $8,500

The post Bitcoin Price Watch: BTC/USD Made Sharp U-Turn appeared first on NewsBTC.

Key Highlights

• ADA price failed to move above the $0.2800 resistance and declined against the US Dollar (tethered).
• There was a break below an important bullish trend line with support at $0.2650 on the hourly chart of the ADA/USD pair (data feed via Bittrex).
• The pair remains at a risk of more losses towards the $0.2300 and $0.2200 support levels.

Cardano price declined substantially against the US Dollar and Bitcoin. ADA/USD is likely to decline further towards the next major support at $0.2200.

Cardano Price Analysis

There was no upside break above the $0.2800 and $0.2820 resistance levels in ADA price against the US Dollar. The price started a downside move and declined below the $0.2700 and $0.2600 support levels. There was also a break below the 61.8% Fib retracement level of the last wave from the $0.2330 low to $0.2840 high. It opened the doors for more declines and the price settled below $0.2600.

The most important move was a break below an important bullish trend line with support at $0.2650 on the hourly chart of the ADA/USD pair. The pair is now trading well below the $0.2500 level and the 100 hourly simple moving average. It traded as low as $0.2383 low and is currently consolidating losses. On the upside, an initial resistance is close to the 23.6% Fib retracement level of the last drop from the $0.2763 high to $0.2383 low. However, the most important hurdle is near $0.2600 and the 100 hourly SMA.

The chart indicates that 50% Fib retracement level of the last drop from the $0.2763 high to $0.2383 low is also likely to act as a resistance near $0.2580. On the downside, a break below the $0.2380 level may push the price towards the $0.2300 and $0.2200 support levels in the near term.

Hourly MACD – The MACD for ADA/USD is currently in the bearish zone.

Hourly RSI – The RSI for ADA/USD is in the oversold levels.

Major Support Level – $0.2200

Major Resistance Level – $0.2600

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