Ripple tends to move millions of dollars per day using the XRP virtual currency. This time, the San Francisco-based company moved more than 73,200,000 XRP wroth close to $23.9 million. In the past, the company sent 47,200,000 XRP worth $15.7 million. At that time, these 47.2m XRP moved were transferred from Ripple OTC Distribution wallet to an unknown wallet, according to the Twitter user Whale Alert. Ripple could have been selling some funds to other companies or investors from around the world. In general, the firm needs to sell coins to make new investments in the XRP ecosystem. Additionally, they also have to fund their daily operations. During the last hours, there have been very large transactions. As it is possible to see on Whale Alert, 218,675 ETH was transferred just a few hours ago between two unknown wallets. This is equal to $32.3 million. On February 13,
Nick Szabo, a recognized crypto figure and cryptographer, wrote a tweet in which he criticized investors that leave their funds in cryptocurrency exchanges. He said that those who do that are like people that invest in Starbucks even when they do not drink their coffee. As virtual currencies expanded all over the world during the last years, new investors entered the market. Nevertheless, some investors didn’t understand how virtual currencies work and which is their real value. Szabo went on saying that these investors might make good technical money, but their actual understanding of use cases and value proposition is questionable. Gabor Gurbacs, director at VanEck, decided to answer Szabo adding some interesting points to the conversation. He said that because something is available, it doesn’t mean that one should invest in it. He explained that it is very important for investors to use products and services provided by a
In a recent report released by CryptoCompare, Huobi, Binance, and Bitfinex have experienced a month-on-month drop in volume. Due to the fact that Binance lost around 15% of its trading volume in the last three months, it lost the first position as the largest exchange in terms of trading volume. The January Exchange Review released by CryptoCompare analyses exchange volumes and also makes a review of the highest volume producing jurisdictions as well. The company makes also a comparison between BitMEX and BitFlyerFX and the Cboe and the CME. Another virtual currency exchange, ZB.com was able to take Binance’s position in the space. Although in November and December Binance performed better than this controversial exchange, January was not a good month for Binance, OKEx, and Bitfinex. Huobi Pro has fallen under $10 billion in trading volume for the first time since CryptoCompare releases these analyses. In December it handled around $12 billion but it dropped down to $5.6 billion.
Bitcoin BTC/USD From yesterday’s low at $4054 the price of Bitcoin has fallen by 1.52% as its currently being traded at $3994. The price has spiked up today to $4138 but the rise ended quickly as it came up leaving a wick on the hourly chart. On the hourly chart, you can see that the price of Bitcoin managed to go past the bold black line which was the most significant resistance line to the upside and interaction with the 0.786 Fibonacci level was made today but only as a quick spike. This was expected as the price was still in an upward trajectory inside an expanding ending diagonal which indicates top but also an attempt from buyers to keep up the momentum going. Since the interaction with the upper resistance line of the current range, the price has started falling again as the selling was triggered and the price is currently sitting on the $3994.4 horizontal support level where it is looking for support. The support where isn’t going to hold for much longer as the level isn’t
According to Spencer Bogart, a partner at Blockchain Capital, this is the best time to purchase Bitcoin (BTC). In order to back his opinion, he gave four reasons that Bitcoin investors should look at before purchasing the most popular digital asset. He said this during a conversation with Bloomberg a few days ago. The first thing he said is that there is a growing interest from pension funds and institutional investors in Bitcoin. About it, Anthony Pompliano, a partner at Morgan Creek Digital, wrote an article in which he explains why pension funds should purchase Bitcoin. Pompliano explained that Bitcoin has an asymmetric risk profile. Investors could lose part of their investment but they could earn ten or a hundred times more the sum invested. Moreover, Fairfax County and Virginia have allocated part of their pension fund to Morgan Creek’s blockchain opportunities fund. The second topic mentioned is related to global tensions and rising national debt. During the last few months,
Andy Singleton, the founder of Aboveboard, a securities exchange, published an article in which he mentioned that the security token offering (STO) market is currently “lifeless.” Although there are several positive things related to blockchain technology and how it is implemented in the securities industry, there is poor liquidity and very little demand from investors. He gave these comments in a recent article that starts by saying that the STO market outlook is near death. Although there are some companies announcing infrastructure and new deals, there are no buyers. According to Singleton, STO does not have sufficient liquidity and have very large fees. He explained that the non-tokenized private security market has a volume of around $50 billion a day in new supply. Meanwhile, there have been less than 1,000 individuals participating in security token offerings until now. Singleton went on explaining that STOs fail to disclose information allowing buyers to have a fair price.
During the last few days, there have been some conflicts among the cryptocurrency community, specifically on the Ethereum (ETH) ecosystem. The community has been discussing different issues that ended with Afri Schoedon stepping down from his role on Ethereum. This is why Breakermag released this open letter alongside Ethereum contributors worldwide to voice concerns on integrity. Ethereum is the second largest blockchain network in the market and it plays an important role in the whole cryptocurrency ecosystem because it provides a network for projects to launch their virtual currencies, tokens and platforms. As per the open letter, there have been ecosystem members hat engaged in toxic behaviour and that discouraged open discussions. Some of the things that harmed the community were related to doxxing, violent threats and many others. They explained that Afri Schoedon received a lot of violence from Redditors that pushed him out of the Ethereum project. Although Ari’s tweet was
Dominic Frisby does not understand people who do not understand cryptocurrency. His endearing term for such people are “no coiners” and believes they are responsible for “deliberate recalcitrance.” Essentially, they are determined to not understand. Dominic also points to what he believes the core of the problem to be – which is people are first trying to incorrectly understand the code. According to him though, the code is not what they should focus on. When it comes to ordinary money, “nobody understands how money gets created, nobody understands quantitative easing.” Likewise, when it comes to the internet, the situation is the same. That is, people use the web without understanding HTML. A few years ago, Dominic Frisby wrote a book called Bitcoin: The Future of Money. Since it was published, he has been following the bitcoin and cryptocurrency center, he’s written about money, and he has continued to develop his career as a voiceover artist as well. Concerning technology and
Dubai’s biggest publicly traded developer Emaar Properties PJSC has denied reports that they have plans to accept cryptocurrencies as payments. Emaar Properties is a real estate development company located in the United Arab Emirates. It is a public joint-stock company and is listed on the Dubai Financial Market and has a valuation of $9.7 billion USD as of June 2018. The company operates internationally providing property development and management services. Emaar Properties Dubai is one of the largest real estate developers in the UAE and is known for various large-scale projects such as developing Burj Khalifa, the tallest building in the world. A few days back were rumors across social media that the company citing an alleged Emaar circular to real estate brokers as saying that the developer will accept payment in digital currencies such as Bitcoin and Ethereum through a broker in Switzerland. The Tweet that broke the story has been taken down since the news had been confirmed to
Some of the largest global companies worldwide are grouping together to establish a governance council for the public distributed ledger, called Hedera Hashgraph. A few of the companies joining the group include Nomura Holdings, DLA Piper, Deutche Telekom, Magazine Luiza, and Swisscom Blockchain AG. Mance Harmon, Hedera’s CEO, recently stated that the group is intentionally comprised of “world-class” brands from different industries and geographies to guarantee “continued decentralization.” The group’s governance council will oversee varies issues, such as software changes that are managed by the platform’s millions of distributed nodes. The distributed ledger is valued at around $100 million and it runs on a proof of stake model. It seems that the ledger is gaining in popularity as well, as many companies are adopting it due its secure and enterprise-ready system. The platform may be able to provide companies with a transaction network maybe better than Ethereum’s low throughput chain
‘Bitcoin Jesus’ Roger Ver tried to make a point which many in the traditional institutions believe, that Gold is more valuable than Bitcoin (BTC). These 2 sentences of merely 43 words have at least 5 mistakes in it. Let us look at a few of them. To start off with, his assertion of BTC maximalists is wrong. Bitcoin maximalists believe that Bitcoin is the best cryptocurrency in the world. Although they know that it has some issues such as scalability problems and lack of smart contracts, they are convinced that in the future Bitcoin would offer everything that investors are searching for. That means that these supporters think that, at some point, Bitcoin would monopolize all the market. However, the point that Ver is making, about Bitcoin being a better store of value than Gold, has nothing to do with Bitcoin maximalism. You don’t have to believe in BTC in fact to hold that view. Just have to hold a belief that a trustless system
In a recent interview with podcast WhatBitcoinDid, Mark Karpeles (the former-CEO of Mt. Gox) spoke at length about how hackers were able to compromise the security protocols of the now infamous exchange. Additionally, he also answered questions pertaining to the company’s ongoing rehabilitation program as well as its ‘Gox Rising’ initiative. A Closer Look at the Conversation As many of our readers may be well aware of, Mt. Gox at one point was the world’s go-to Bitcoin marketplace. However, in early 2014 a group of miscreants breached the exchange’s security protocols— thus stealing around 7% of the world’s total BTC supply in the process. As a result of this scandal, Mt Gox had to file for bankruptcy and shut down all of its services for good. In this regard, it should be remembered that the stolen funds are now being gradually paid back to the company’s investors as part of the it’s “civil rehabilitation programme”. During
Despite XRP facing a barrage of bearish pressure over the past many months, its core dev team has been working night-and-day to improve the currency’s base framework as well as its overall network functionality. In this regard, David Schwartz, the CTO of Ripple, recently went on to state that his team had been working overtime on the XRP ledger so as to improve its usability and transparency. More On The Subject During a recent interview with Joe Kaltz, Schwartz spoke at length about XRP’s ledger development activities over the past 12-14 months. As per the Ripple CTO, the currency’s ledger system has become “more decentralized” — so much so that the total number of transaction validations being handled by the parent company has now “reduced quite significantly”. As a result of these developments, more independent network operators have been afforded the freedom to work freely within the Ripple ecosystem. Is XRP’s Network More
As many of our readers are probably well aware of, the past few days have seen Bitcoin [BTC] make a strong rally— with the premier digital currency now hovering around the $3,900 mark. However, despite all of this recent bullish momentum, BTC has not been able to move past its closest resistance level of USD $4,000. In the wake of all these developments, many experts now believe that the price of Bitcoin is destined to stoop a little lower before finally crossing the $4,000 threshold. Regardless Of Ongoing Surge, Market Conditions At Large Remain Bearish for Bitcoin On the subject of Bitcoin’s recent market ascent, eToro’s Mati Greenspan, recently spoke with a reputable media outlet wherein he claimed that while BTC’s ongoing financial push was a good sign for the currency, the crypto market at large was still in the grips of heavy bearish conditions. Elaborating further on his stance, Greenspan was quoted as saying: “For those who are in from the bottom it’s great because some of the
In November 2018, we reported a story about Ohio becoming the first ever American state to accept bitcoins as a payment to resolve tax bills. It had permitted businesses to register with the state via OhioCrypto.com to, “pay everything from cigarette sales taxes to employee withholding taxes with bitcoin.” However, things did not go as smooth as anticipated. Recently, Republican Treasurer Robert Sprague was asked about his office’s experiences with the bitcoin payment option set up in December by his predecessor, Josh Mandel. Sprague said that the treasurer’s office has received only two tax payments through the state’s bitcoin payment platform. He added that further project developments are needed: “We’re reviewing how [the program] might be either curtailed or might be expanded, and what our counter-party risk is with that vendor.” Sprague emphasized that Ohio doesn’t actually receive or hold bitcoin. The company hired by the state to process the bitcoin payments converts them into