Connect with us
  • Home
  • Start here
  • Bitcoin Charts & More
  • Submit PR
  • Advertisement
CLOSE

Altcoin News

Augur (REP) Surges 35% In 3 Hours

Published

on

augur

The native token of the Augur decentralized prediction market which is based on the Ethereum blockchain protocol has risen by more than 35% in only three hours. The token is apparently continuing to increase in both price and volume – at a rapid rate.

According to some analysts, the rise of Augur’s token is because of its post-mainnet launch value. However, the surge seems drastic to many analysts, who said that a rise from 70 BTC to 1,090 BTC usually does not occur without striking events that could lead the value of the token to rise.

Other tokens followed the bullish run. Some of them were Decentraland (MANA) as well as Salt (SALT) which both recorded solid gains in the 13% region, backed by the increase in the daily trading volumes on major exchanges such as UPBit and Binance.

Still, there is one concerning thing about most of these surges.

Apparently, the volume of Bitcoin has dropped by 36% in only 7 days – dropping from $5.5 billion to $3.5 billion. A drop that is more than $2 billion in only a week may be a sign of a short-term downfall.

Ether (ETH) and Tether (USDT) also dropped by a similar margin. When it comes to the reason of the overall drop, many point to the tendency of the crypto investors to hedge the value of their portfolio to the one of the US dollar.

 

Share This With Your Friends
Continue Reading
Comments

Altcoin News

SBI Holdings Removes BSV But Not As A Part Of The Delisting Campaign

Published

on

By

SBI holdings
SBI Holdings the Japanese Financial giant, removed Bitcoin Cash from its exchange last week but claims it was not a part of the delisting campaign against BSV. In today’s coming altcoin news, we read more on this misunderstanding. According to the Cointelegraph Japan reports from April 19, the SBI holdings giant never actually offered Bitcoin Satoshi Vision trading. The company only allowed Bitcoin Cash trading and this has always been seen as a controversial move. Removing Bitcoin cash from the platform happened during the most controversial times since many crypto exchanges delisted the BSV cryptocurrency as an overall industry boycott. As DC Forecasts previously reported in the altcoin news, exchanges such as Kraken and Binance stopped providing support for Bitcoin Satoshi Vision after Craig Wright made multiple legal threats towards Twitter user Hodlonaut but also against podcaster Peter McCormack for accusing him of being a fraud. SBI Holdings has nothing to do with the accusations and the delisting campaign that started on Twitter. Bitcoin Satoshi Vision (BSV) is a hard fork of Bitcoin Cash after Craig Wright and Ayre claimed that the altcoin is the original bitcoin. Wright also made claims that he is the real creator of the number one cryptocurrency. During his statements, the value of both altcoins fell dramatically. The move by SBI holdings removing BCH comes at a time when other companies choose to delist BSV in a time of criticism. However, the SBI Holdings giant was also criticized for the decision since the company has made a lot of partnerships with Wright’s businesses and especially with nChain which is also under Wright’s ownership. In a statement, the executives denied conflict of interest:
 “It is true that we do have a business relationship with Mr. Craig Wright through our partnership with nChain. However, our decision to delist Bitcoin Cash (ABC) is unrelated to the delisting of Bitcoin SV by several non-Japanese exchanges.”
SBI Holdings made clear that the BCH delisting was premeditated and a decision was brought after a long consultation with the Japanese Virtual Currencies Exchange Association. The decision comes at a time when BSV is reaching almost all headlines in every best cryptocurrency news sites but the company states it is a coincidence. As of press time, Bitcoin Cash is trading at 3.2 percent lower at $299 while Bitcoin Satoshi Vision is trading around $59 despite the massive delistings.
`
Continue Reading

Altcoin News

Renminbi Chinese Currency To Officially Become A Cryptocurrency

Published

on

By

renminbi chinese currency
Renminbi, Chinese currency, the official currency of China (RMB), should become a cryptocurrency in the future according to Donald Tapscott.  He is the executive chairman of the Blockchain Research Insitute and was interviewed a few days ago so we read more about in the altcoin news below. In the interview with Bloomberg, Tapscott revealed that he met with the vice-chairman of the Communist Party in China and discussed the future of the country. They also discussed the Renminbi Chinese currency since the crypto and blockchain technology is the future of the country. Speaking about the government’s stance on cryptocurrency and the ban, Tapscott pointed out that China is looking into banning crypto mining as well but this could have a huge impact on the Renminbi Chinese currency. He added on the usage of the Renminbi Chinese currency:
 “It’s not really necessary to do that [to ban exchanges and mining] because in 20 years we are not going to be using bitcoin in China. Chinese people will use the RMB, only the RMB will become a cryptocurrency. The central bank of China will turn it into a digital currency.”
Tapscott also gave a long explanation on decentralized exchanges as all of the best cryptocurrency news sites reported. He explained the Initial Coin Offering ban in the country and said that the government has a harsh stance towards using digital currencies. He suggested that decentralized exchanges should outperform the centralized ones since they have the ability to be more transparent and can identify ‘’bad behavior.’’ All assets, including the Renminbi Chinese currency, should join the decentralized exchanges according to Tapscott. The Chinese authorities are discussing the possible ban on crypto mining. The National Development and Reform Commission (NDRC) added crypto mining on the revised list of industrial activities. The agency believes that the crypto activities don’t provide safe production conditions. However, the country is a huge player in the bitcoin market since the Renminbi Chinese currency is often traded against the number one cryptocurrency. China is also one of the largest bitcoin mining pools owner. Bitmain for example, in 2018 operated about 11 mining farms in China so he was affected by the national agency’s reported plans. As for the blockchain technology, China is also among the places in the world with the largest number of blockchain projects. There are currently more than 264 projects. This is also one of the reasons why the Renminbi Chinese currency should become an official cryptocurrency.
`
Continue Reading

Altcoin News

Bakkt Exchange Eyeing A New York License Following Launch

Published

on

By

bakkt exchange
The Bakkt exchange is in the coming altcoin news for its decision to pursue a New York License from the owner of the New York Stock Exchange (NYSE), Intercontinental Exchange (ICE). The NY license will aid Bakkt and its long-delayed crypto exchange. Knowing that the launch of the Bakkt exchange has been held up for five months now, reports showed that most of the delay lies in the difficulty of obtaining the Commodity Futures Trading Commission (CFTC) to approve it to custody Bitcoin for its planned and physically-delivered futures contracts. ICE would apparently need a license from the New York Department of Financial Services (NYDFS) as a possible solution according to a Bloomberg report. For those of you who don't know, such physically settled contract would mean that buyers would receive the actual commodity - Bitcoin - at maturity. Right now, the CFTC is concerned over the issue of safeguarding clients' Bitcoin which is linked to Bakkt exchange and its future product. Thus, a state license will definitely help Bakkt to cut through its reservations, as the report shows. The exchange may also be moving to enable retail transactions using BTC for firms such as Starbucks (which is a Bakkt investor) as the best cryptocurrency news sites reported. Right now, if ICE is ready to pull off the New York registration for the Bakkt exchange, it might also allow CFTC to issue its futures by self-certification and in that manner sidesteep the regulator's requirements that client funds are deposited in either a bank or a trust company. However, even if they manage to obtain the license and custody crypto in the New York state, the Bakkt exchange would still need a green light from the CFTC over its wider operations, as reports show. ICE planned to launch Bakkt in mid-December, but the deadline was moved to January 24 later on. Then, on New Year's eve, the big day was again delayed indefinitely, and ICE said that the January target "will be amended pursuant to the CFTC’s process and timeline" which means that the Bakkt exchange is still waiting for regulatory approval. As the latest cryptocurrency news show, Bakkt is continuing to build out its product and systems, without putting an accent on the license.
`
Continue Reading

Altcoin News

South Korean Exchange Coinnest Announces A Shutdown

Published

on

By

south korean exchange coinnest
The popular South Korean exchange Coinnest is in the latest cryptocurrency news on our website for its apparent decision to close its offices and put an end to its operations. As an official notice on its website read, as of Tuesday the exchange will not be operating anymore. The users will need to withdraw the funds held on the platform by April 30, while the fees for withdrawals and the minimum threshold have been lowered in order to assist the process, as the notice said. The South Korean exchange Coinnest also had an official to report the news and provide the reasons for closure. According to him:
“It is a natural result of a decrease in trading volume. Both regulatory issues and business decisions have served as a background for this decision. The cynical nostalgia and passion alone can not cope with the changes and movements of the cipher and block chain industry measured at this time."
According to an official, the South Korean exchange Coinnest and its closure comes as a result of a decrease in trading volume, regulatory issues and business decisions. All of these factors have served as a background for this decision. As reported in the altcoin news section of many crypto news sites, the decision comes after a bad year for the exchange. One year ago, an executive of the firm was arrested on suspicion of fraud and was later convicted, being jailed and having to pay a 3 billion Korean won (approximately $2.5 million USD) fine. The South Korean exchange Coinnest also lost more than $5 million in a mistaken airdrop this January, which piled up to the bad news for the firm. As soon as that happened, the firm revealed that Bitcoin and other altcoins were sent to customers due to a computer error. Since then, the exchange had been trying to distribute We Game Tokens (WGT) to repay for the lost funds because of the incident. As reported by many best cryptocurrency news sites before, Coinnest was also once the third largest cryptocurrency exchange based on the domestic volume and was a popular name on the South Korean market.
`
Continue Reading

Newsletter

For Updates & Exclusive Offers
enter your email below





ADVERTISEMENT

Join us on Facebook

Recent Posts

ADVERTISEMENT

UPCOMING EVENTS RECOMMEND BY DC FORECASTS

may

No Events

NEWS CATEGORIES

ADVERTISEMENT

Trending Worldwide

X
X