Day: November 6, 2018

Crypto Exchange BTCC Is Closing its Mining Pool Business Indefinitely

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Hong Kong-based cryptocurrency exchange BTCC is shutting down its mining pool business, BTCC Pool Limited, after four years of operation. Citing the reason for the closure as “business adjustments,” BTCC Pool said Tuesday that it will shut down all mining servers on Nov. 15 and will cease operations indefinitely from Nov. 30. The firm has now asked all member miners to switch their hashing power away from the pool before Nov. 15., adding that it release previously earned mining profits “in time.” The pool was launched in 2014 as one of BTCC’s…

Ethereum Price Analysis: ETH/USD Primed For More Gains

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Key Highlights ETH price tested the $205 support area and recovered later against the US Dollar. There is a major breakout pattern formed with resistance at $209 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to break to the upside above the $209 and $210 resistance levels. Ethereum price is holding key supports against the US Dollar and bitcoin. ETH/USD could resume its upside move once there is a break above $209-210. Ethereum Price Analysis Recently, ETH price started a downside correction after trading…

Ethereum Classic Price Analysis: ETC/USD Could Revisit $10

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Key Highlights Ethereum classic price recovered recently and moved above the $9.00 resistance against the US dollar. There was a break above a major bearish trend line with resistance at $9.10 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair is currently struggling to settle above the $9.50 and $9.60 resistance levels. Ethereum classic price recovered a few points against the US Dollar and Bitcoin. ETC/USD is currently correcting lower towards the $9.25-9.30 support. Ethereum Classic Price Analysis After trading as low as $8.74, ETC…

Ripple Price Analysis: XRP/USD Rally Gains Pace Above $0.50

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Key Highlights Ripple price surged higher recently and broke the $0.4700 and $0.5000 resistances against the US dollar. There is a short term connecting bullish trend line formed with support at $0.5000 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently placed nicely in a bullish zone and it could accelerate above $0.5140. Ripple price rallied recently against the US Dollar and Bitcoin. XRP/USD is currently correcting, but dips remain well supported near $0.5000 and $0.4950. Ripple Price Analysis Yesterday, we discussed that…

PwC Is Advising (Not Auditing) Another Stablecoin Project

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The Hong Kong division of global accounting and consulting firm PwC is exploring the best practices for issuing stablecoins, as part of an initiative with the non-profit Loopring Foundation. Announced Tuesday, PwC Hong Kong’s Asia-focused study on stablecoins follows a PwC partnership in the U.S. to advise decentralized lending platform Cred, which is working on a U.S. dollar-tied coin. Stablecoins or one sort or another are suddenly all the rage, with the likes of Circle issuing its dollar-backed USDC on exchange giant Coinbase, and even big players like IBM getting in on…

Bitcoin Cash Price Analysis: BCH/USD Approaching Next Key Break

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Key Points Bitcoin cash price is currently consolidating above the $535 support against the US Dollar. There is a key contracting triangle formed with resistance at $570 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is likely to make the next move either above $570 or below $550 in the near term. Bitcoin cash price is preparing for the next move against the US Dollar. BCH/USD could rally once again if there is a break above the $570 resistance. Bitcoin Cash Price Analysis Yesterday,…

Younger Germans More Inclined to Invest in Cryptocurrencies

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More than a quarter of younger Germans is ready to buy cryptocurrencies, according to a recent poll by the German Consumer Centers of Hesse and Saxony published Monday, Nov. 5. Consumer Centers are non-profit, government-backed agencies organized at state level unions. They focus on consumer protection in addition to providing advisory services. The centers of two German federal states, whose populations total over 10 million people, have conducted a joint survey among internet users. According to the local business media Wirtschaftswoche, the survey polled 1,000 Germans between the ages of…

Fake Elon Musk Accounts on Twitter Promote Bitcoin Scams, One Collects $170K

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Several verified Twitter accounts have been hacked to impersonate Elon Musk today, Nov. 5, with one reportedly collecting almost $170,000. After compromising verified accounts, scammers changed the profile name and picture in order to pose as the Tesla CEO. Scammers would then post in comment threads started by the real Elon Musk, so as to give the impression of legitimacy. Some of the scam tweets said that Elon Musk was conducting “the biggest” crypto-giveaway in the world for those who use “Bitcoic” (read Bitcoin), and provided a link to “participate”…

Deloitte Partners With Startup for Gov’t-Level Blockchain Identity Management

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“Big Four” accounting firm Deloitte has partnered with identity management company Attest Inc. to develop a blockchain-based digital identity system, according to a press release published Nov. 5. Chicago-based Attest is an identity management company that offers a shared identity platform enabling its clients to conduct transactions, wherein its governmental customers can provide identity services to citizens. The collaboration will purportedly develop a digital identity offering for government-compliant identifiers that can be used by Deloitte’s clients based on Attest’s existing products. The first product, Attest Wallet, is a cryptographically secured…

Marshall Islands President Faces No Confidence Vote Due to National Crypto Plans

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The President of the Republic of the Marshall Islands Hilda Heine faces a vote of no confidence due to her administration’s plans to introduce a national digital currency, Radio New Zealand News (RDZ) reported Nov. 5. The Marshallese parliament initially endorsed the creation of the national digital currency,  which would be called the Sovereign (SOV), in February of this year. Set to be issued before the end of 2018, the SOV would be used along with the U.S. dollar, which the country uses as its official currency. Heine said then…