Day: August 31, 2018

In an apparent government crackdown on corruption and money laundering, Brazilian cryptocurrency exchanges have been given a 14-point survey to fill out detailing a number of areas in their operations.

Local news outlet Portal do Bitcoin covered the incident in an exclusive piece after obtaining a copy of the document that was served to the exchanges, despite the message being signed by the prosecutor Ana Paula Bez Batti warning that the dissemination of the message is prohibited by law.

The questionnaire covers a number of topics that will supposedly contribute to the study of combating corruption and money laundering in Brazil, and covers topics including compliance issues, limits offered to customers in relation to declared income, control over the number of operations, control over the originator’s identification, hashes of the portfolios and data of the partners themselves.

Question 10, for example, reads: ”Does the Crypto-Exchange trade popular crypto-coins for their anonymity, such as Monero, Dash and Zcash?” most likely querying these coins in particular as they are notably more difficult to trace ownership of. Other questions were more direct, such as number six: ” What measures, if any, does Crypto-Exchange take to mitigate risks related to money laundering and terrorist financing?”

The Ministry of Finance supposedly issued the questions as part of a stealth dossier “to protect the integrity of the financial system”. Each brokerage was notified they had five days to respond, with the data promised to be kept entirely confidential.

What do the exchanges say?

Portal do Bitcoin contacted three of the countries top 10 exchanges by trading volume, each giving a different response to how they are handling the situation and each wished to remain anonymous. One has been fully compliant, answering each question and has already sent its response. Another claims they do not know if they have received it but are looking onto all possible communication channels.

The final exchange to comment said they do not have any plans to respond to the survey, as it was not sent as an official document from the Brazilian government but rather sent through its contact form. As most inquiry forms on similar platforms send an automated reply, it is unlikely they will be able to claim they never received the survey when the government approaches them.

 

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After crypto asset investor Michael Terpin lost his cell phone at a conference, he says AT&T’s negligence enabled a hacker to drain off $24 million. Here’s how it was done. 

FOMO Moments

Markets are still flat on Friday; Monero, Nano, Dogecoin and Waltonchain rising.

Yesterday’s market correction did not accelerate which is good news this Friday in crypto land. Markets have remained stable but are still below $230 billion, many cryptos have not moved over the past 24 hours but a couple of altcoins are lifting off again today.

Bitcoin has remained below $7,000, but only just. It is currently trading at yesterday’s level of $6,980 though the short term uptrend is still intact. Ethereum keeps falling back, but only by one percent on the day to $280 which is still a very low level for the world’s second largest cryptocurrency.

There are only two altcoins in the top ten in the green at the moment. Iota has continued its upward march with a 5.3% gain on the day to $0.722 and EOS is not far behind with a 4% gain to trade at $6.16. The rest are just in the red with losses between half and two percent.

The top twenty is predominantly green with Monero making the biggest move by 7% up to $108. Dash, Neo and VeChain are all posting between 3 and 4 percent gains on the day and the rest are up or down by a very little.

Nano is having a great end to the week with a 20% pump to $3.15. Over the past seven days Nano has made almost 50% gains from $2.13 this time last Friday. A minor listing on Coinbene and the launch of its new Instagram page seems to be driving momentum;

Adoption and growth are happening daily, we would like to thank @Coinbene for being the latest exchange to integrate $Nano! Deposits and trading go live this weekend! https://t.co/DBPzaO7pBl

— Nano (@nano) August 30, 2018

Trade volume has jumped 74% to $47 million, most of which is on Binance which has over 97% of all Nano trade. Dogecoin is having an equally good day, up 19% following on from yesterday’s gains and Icon has made 8.6% back to trade at $0.903. Topping the top one hundred for gains is Waltonchain pumping 27% at the moment as it gets listed on Bithumb.

Waltonchain(WTC) and IoT Chain(ITC) will be listed on Bithumb Today!
Visit Bithumb website and trade newly listed crytocurrencies.

■ Date : August 31, 2018(Fri) at night (UTC+9)

https://t.co/t6KbGqObGE

— Bithumb (@BithumbOfficial) August 31, 2018

Getting beat up still is Noah Coin, MOAC and Dentacoin in today’s mixed bag of crypto trading.

Total crypto market capitalization is pretty much at the same level it was this time yesterday, $226 billion. Overnight it dropped to a daily low of $220 billion but has since recovered all losses. Trade volume has remained stable at $13 billion per day at BTC dominance is at 53.3%.

More on Nano can be found here: http://nano.org/en

FOMO Moments is a section that takes a daily look at the top 30 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.

The post Cryptocurrency Market Update: Nano Lifted by New Listing appeared first on NewsBTC.

Most cryptocurrencies remain in an awkward state as of right now. With the Bitcoin price still in the red, it is rather unlikely most altcoins will see any real improvements. In the case of the Monero price, however, there are a lot of improvements over the past 24 hours. A surprising turn of events, albeit one that shows cryptocurrency is about so much more than just Bitcoin and Ethereum.

Monero Price Rise is Surprising

A lot of cryptocurrency users are surprised to learn the Monero price is effectively on the rise as of right now. In fact, it seems rather unlikely to see this particular altcoin note any gain during a time when Bitcoin is losing value. At the same time, some of the other altcoins are showing similar signs of bullish momentum, which may result in some interesting changes over the coming weekend.

Over the past 24 hours, the Monero price has risen to $108.8 once again. That is a much lower value compared to a few months ago. At the same time, it is evident The cryptocurrency markets are still a long way removed from setting new all-time highs, and the Monero price is no exception in this regard. This is still a 7.74% increase, which comes at a most opportune time for this particular altcoin.

At the same time, there is a notable increase in the XMR/BC ratio in the same time period. With another 7.38% increase in this department, things look rather promising for the Monero price as of right now. Even so, it remains to be seen how long all of these gains can be sustained. That will heavily depend on what happens to Bitcoin over the coming days.

Even though the overall cryptocurrency trading volume has not improved by much, the momentum may turn in favor of Bitcoin and altcoins once again. With $13.23bn in volume, the market looks slightly more healthy compare dot yesterday despite most of the top markets remaining in the red. For Monero, its volume has surpassed $40m again, even though it remains one of the least liquid markets in all of cryptocurrency.

HitBTC is leading the pack in terms of XMR trading volume over the past 24 hours with its BTC trading pair. Binance’s BTC market is slightly behind, followed by KRW and USD pairs offered by Bithumb and Bitfinex respectively. HitBTC completes the top five with its USDT market. Two fiat currency pairs in the top five is rather surprising for Monero, although it shows there is more positive momentum looming on the horizon.

How this market, as well as all other cryptocurrencies will evolve exactly, is always difficult to predict. Anything can happen in the cryptocurrency industry, and the Monero price usually doesn’t stay in the green for very long. As such, it will be interesting to see what happens over the weekend, as that may dictate the pace for the coming weeks. There appears to be some positive momentum looming on the horizon, although nothing has bee n set in stone just yet.

Key Points

• Bitcoin price extended downside correction and tested the key support at $6,775 against the US Dollar.
• This week’s followed major bullish trend line was breached with support at $6,930 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair bounced back sharply after testing $6,775 and it could revisit the recent high in the near term.

Bitcoin price decline was contained by $6,775 against the US Dollar. BTC/USD is still in a positive zone and it may soon climb back towards $7,120 and $7,200.

Bitcoin Price Analysis

Yesterday, we saw the start of a downside correction from the $7,130 swing high in bitcoin price against the US Dollar. The BTC/USD pair declined and broke the $6,920 and $6,920 support levels. There was even a spike below the $6,800 level and the 100 hourly simple moving average. Additionally, the price cleared the 50% Fib retracement level of the last upward move from the $6,710 low to $7,130 swing high.

More importantly, this week’s followed major bullish trend line was breached with support at $6,930 on the hourly chart of the BTC/USD pair. However, bitcoin buyers took a stand near the $6,775 support area, which was a resistance earlier. The price reacted very aggressively and bounced back above the $6,900 level. It even climbed back above the $6,920 level and the 100 hourly SMA. Buyers pushed the price above a bearish trend line and the $6,950 resistance. Lastly, there was a break above the 50% Fib retracement level of the recent slide from the $7,119 high to $6,778 low.

Looking at the chart, bitcoin recovered nicely from the $6,778 low and is currently trading with a bullish angle. It seems like the price may revisit the $7,130 high as long as the $6,775 support is intact. Above $7,130, the next resistances are $7,200 and $7,250.

Looking at the technical indicators:

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

Hourly RSI (Relative Strength Index) – The RSI is back above the 50 level.

Major Support Level – $6,850

Major Resistance Level – $7,130

The post Bitcoin Price Watch: BTC/USD Recovers Sharply, Could Retest $7,120 appeared first on NewsBTC.

A senior Russian lawmaker has said he believes a cryptocurrency backed by gold may be the right course of action to avoid Western-imposed sanctions on arms exports.

Vladimir Gutenev, first deputy head of the economic policy Committee at the State Duma, has called on Moscow to suspend all shared treaties with the US including the non-proliferation of missile technologies and to adopt cryptocurrency in order to avoid USD-based commerce. He called this an ”asymmetric response to the US”.

Speaking to local news outlet TASS, Gutenev claimed that the US was attempting to block Russian weaponry and civilian goods, and the way around this could be found through conducting transactions in gold-backed cryptocurrencies. He added, ”I’m sure that this will be a very interesting option for China, India, and other states as well.”

While Gutenev did not point to any digital currency in particular, the Royal Mint Gold (RMG) launched by the British Royal Mint earlier this year is the most prominently recognized cryptocurrency with a value linked directly to gold. Backed by USD 1 billion in gold bars stored in the Royal Mint’s vaults, one RMG is right now priced equivalent to one gram of gold.

Russia may have alternative cryptocurrency options, however, as President Vladamir Putin is rumored to be developing a national cryptocurrency in Moscow reportedly being dubbed the cryptoruble, even having apparently met with Vitalik Buterin to discuss the topic. Putin denied any claims of a national cryptocurrency in June this year, however.

Gutenev advocated for the Kremlin to withdraw from US treaties as the government discusses new sanctions against Russia. A discussion in the US of the proposed sanctions was triggered in April after Russia’s involvement in the Syrian conflict, followed by America’s sanctioning of six Russian entities due to accusations of violating its weapons of mass destruction non-proliferation treaty.

 

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Key Highlights

• ADA price corrected lower after trading as high as $0.1089 against the US Dollar (tethered).
• There was a break below a connecting bullish trend line with support near $0.1030 on the hourly chart of the ADA/USD pair (data feed via Bittrex).
• The pair tested the $0.0950 support area where buyers protected further declines.

Cardano price failed to hold gains and corrected lower against the US Dollar and Bitcoin. ADA/USD could move higher, but it is likely to face resistance near $0.1050.

Cardano Price Analysis

There was a decent upside move above the $0.1000 level in cardano price against the US Dollar.  The ADA/USD pair traded above the $0.1040 and $0.1050 resistance levels. It traded as high as $0.1089 where it faced resistance, resulting in a downside correction. The price declined and broke the $0.1040 support along with the 100 hourly simple moving average.

During the decline, there was a break below a connecting bullish trend line with support near $0.1030 on the hourly chart of the ADA/USD pair. The pair even cleared the $0.1000 level, but the $0.0950 support area acted as a barrier for sellers. An intraday low was formed at $0.0969 and the price corrected above $0.1000. It even moved above the 23.6% Fibonacci retracement level of the recent drop from the $0.1089 high to $0.0969 low. However, the price is currently struggling to clear the $0.1010 level and the 100 hourly SMA. Above this, there is a bearish trend line near $0.1030. Additionally, the 50% Fibonacci retracement level of the recent drop from the $0.1089 high to $0.0969 low is near $0.1029.

The chart indicates that ADA price could move higher towards the $0.1020 and $0.1030 levels. Though, a break above the $0.1030-0.1050 resistance zone won’t be easy. On the downside, a break below $0.0950 may push the price towards the $0.0900 support.

Hourly MACD – The MACD for ADA/USD is slowly moving in the bullish zone.

Hourly RSI – The RSI for ADA/USD is currently near the 50 level.

Major Support Level – $0.0950

Major Resistance Level – $0.1050

The post Cardano Price Analysis: ADA/USD Could Struggle Near $0.1050 appeared first on NewsBTC.

Bitcoin Press Release: PATRON, a subsidiary of EXTRAVAGANZA INTERNATIONAL, INC., has announced an aggressive plan to benefit current and new token holders. The plan will consist of a token swap that will be accompanied by a buy-back program and at least five new exchange listings.

August 25th, 2018. Tokyo. CEO Atsushi Hisatsumi led the company through a $40 million token sale and several initial exchange listings. The company recently made headlines for partnering with a few leading influencers in the United States, including Saweetie. The company was recently featured in Forbes as the top blockchain startup to watch.

The upcoming plan will begin with continuous exchange listings and a buyback program that will see the board of directors burn a portion of their tokens to benefit the greater community. Also, a proposed token swap is also in the works.

Recent and Upcoming Exchange Listings

The leadership team of PATRON have slated five exchange listings to help acquire new token holders, increase liquidity, and increase transaction volume. Currently, five exchanges have approved PAT tokens for listing: Hotbit, Extrates, Yobit, Changelly, LATOKEN.

The team has also announced its intention of listing on leading South Korean exchange, Kucoin in the upcoming weeks. Details will be announced when confirmed. PAT is also in the running at CoinEx for listing. You can vote for PAT to win the listing competition here.

PAT Token Buy-Back and Coin Burn

Currently, PATRON (PAT) is targeting to launch a mainnet by late September to October. In order to do this, there is a possibility of a platform change and resulting token swap needed for compatibility. In the case another blockchain platform, besides Ethereum, is used, token holders will be guided on the migration and swap.

At the time of the mainnet launch, PATRON will notify current holders of both host wallets and guest wallets. You will need to be a current holder of PAT tokens to participate in the token swap. In addition, the PATRON team is going to perform a “buyback” and “coinburn” of PAT tokens at this time. These are at the request of the PAT community to help with liquidity and appreciation of PAT tokens. PAT tokens will also be burned from the team’s pool.

Crypto Finance Conference, California (September 5-7)

The Patron team will be attending the Crypto Finance Conference in California on September 5th.CEO Atsushi Hisatsumi will be a guest speaker. The event will take place at the Ritz-Carlton at Laguna Niguel. Other confirmed speakers and guests include Chris Larsen (Ripple Chairman), Tim Draper (Draper Associates), David Namdar (Galaxy Digital), Bill Tai, Jeffrey Wernick, Catherine Ross, Dane Morehead, and more.

Visit the Website: https://patron-influencers.com/
Whitepaper: https://patron-influencers.com/pdf/patron-wp-en-01-20180423.pdf
YouTube: https://www.youtube.com/channel/UCQZJrZdSMazEsuQzx1fun1g
Chat on Telegram: https://t.me/patroncoin
Medium: https://medium.com/@patronproject
Twitter: https://twitter.com/patron_io?lang=en
Facebook: https://www.facebook.com/groups/609789325896287/
LinkedIn: https://www.linkedin.com/company/patron-ico/

Media Contact
Name: Kosuke Takada
Email: [email protected]

Patron is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all. Token sales are only suitable for individuals with a high risk tolerance. Only participate in a token event with what you can afford to lose.

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