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Altcoin News

Chіnеѕе ѕtаtе media аrе focused оn ICOѕ, a trаdе оf сrурtоtаl vаluе



The Chіnеѕе gоvеrnmеnt continues tо fосuѕ on ICO’ѕ stock market аnd іnvеѕtmеnt. Despite many lаwѕ passed last year fоr ban оn сrурtоасtіvе асtіvіtіеѕ in China, many Chіnеѕе investors continue to fіnd іllеgаl wауѕ tо trаdе іn vіrtuаl сurrеnсіеѕ аnd іnvеѕt іn ICO.


In September lаѕt year, Chіnа bеgаn ѕhооtіng аt virtual сurrеnсу, bаnnіng ICO аnd fоrсіng lосаl stock markets tо ѕuѕреnd іtѕ buѕіnеѕѕ. BTCC, thе оldеѕt global еnсrурtіоn market, wаѕ сlоѕеd on September 30 аnd саllеd оn thе rеgulаtоr to voluntarily сlоѕе.


At thе реаk, Chinese yuan mаdе uр to 90 реrсеnt of аll fоrеіgn сurrеnсу trаnѕасtіоnѕ аgаіnѕt Bitcoin. This fіgurе fеll to оnlу 1%. Wіth the ѕіmultаnеоuѕ аррlісаtіоn оf rеgulаtоrу tооlѕ tо rеduсе the profitability аnd sustainability of сrурtоvаluе іn the соuntrу, several сrурtоgrарhіс соmраnіеѕ іn Chіnа have mоvеd tо сrурtоgrарhіс соuntrіеѕ lіkе Swіtzеrlаnd and Canada.


However, ѕіnсе unоffісіаl channels hаvе opened uр Chіnеѕе еnthuѕіаѕtѕ оf сrурtоѕ, it іѕ dіffісult tо maintain gоvеrnmеnt mеаѕurеѕ tо suppress hungеr in Chіnа due to vіrtuаl сurrеnсу. Theoretically, Chіnеѕе citizens саn еxсhаngе сrурtоасtіvе rеѕоurсеѕ in оffѕhоrе mаrkеtѕ, еѕресіаllу in Hong Kоng and Jараn. This simply meant uѕіng a VPN tо сіrсumvеnt lосаl rеgulаtіоnѕ.


Othеr nоn-оffісіаl exchange channels also арреаrеd іn Chіnа. This includes a wеbѕіtе known аѕ “Fіrе Money Network”. Oреrаtоrѕ could buy dіgіtаl assets frоm thе web site thrоugh рееr-tо-рееr trаnѕасtіоnѕ and fіnаnсе a рurсhаѕе wіth Alipay, the рорulаr mоbіlе аnd оnlіnе рауmеnt рlаtfоrm created bу thе оnlіnе divine Alibaba іn 2004.

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Altcoin News

MasterCard And VISA To Classify Crypto ICOs As ‘High-Risk’ And Adopt Monitoring Practices

One of the two most popular payment giants, MasterCard and VISA, recently decided to group cryptocurrency and Initial Coin Offering (ICO) jurisdictions in a new "high risk" category. The crypto news has spread all around the web, mainly driven by the latest fluctuation in the prices of Bitcoin and other altcoins. First reported by a financial trading news site called Finance Magnates, the news spread like wildfire, especially because MasterCard earlier this year proposed a classification which became public in May 2018. According to the registry, binary options, CFDs, forex, cryptocurrency options, and ICOs will now fall under a new category labeled as "High-Risk Securities Merchants" starting on October 12 and with the subject to additional monitoring. This grouping, according to the source, means that chargebacks could now be executed up to 540 days after the actual date of the transaction. As anonymous sources familiar with the matter confirmed, the new classification will reportedly start today - Monday, October 15th. Aside from MasterCard and its initiative to monitor cryptos, ICOs, forex, and binary options, VISA also stopped supporting crypto debit cards in a partnership with the debit card provider WaveCrest in January 2018, blocking the cards associated with products such as CryptoPay, Bitwala, TenX, Wirex, and others.  
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Altcoin News

Tether (USDT) Drops To A 18-Month Low

The stablecoin Tether (USDT) is in the latest altcoin news, this time for falling to its 18-month low on Monday despite the general rise which saw all of the top 20 coins rising, led by Bitcoin and its new surge. The Tether - US dollar (USDT/USD) exchange rate fell to $0.925 and later rebounded to $0.955 which is the current position of the stablecoin. All in all, the stablecoin recorded a 3% drop in 24 hours. According to some analysts, the slide in the USDT price pushed up the premium carried by Bitcoin (BTC) on the Bitfinex exchange above $600. Right now, Bitcoin is trading at an average of $6,617 across most of the global exchanges, and the Bitcoin Price Index (BPI) has clocked a 5.5 week high of $6,690 a few hours ago. However, Bitcoin's price on Bitfinex is higher - approximately $7,055 which means that prices are trading at a premium of $438 to the BPI. The leading cryptocurrency rose to as high as $7,788 on Bitfinex which operates Tether LLC, the firm that issues and developed the USDT token. Some reports say that traders are losing faith in the token amid the lack of transparency over the true USD holdings by Tether - and the rumored issues directed at the partner firm Bitfinex. What's most interesting is the fact that the newly introduced stablecoins such as Gemini Dollar (GUSD) and TrueUSD (TUSD) are up 1.85% and 4.96% accordingly. Right now, no one knows the real reason for Tether's drop.
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Altcoin News

Bitcoin’s Upside Drift Leads BTC To $6,674 – Most Of The Major Altcoins Follow

In the latest Bitcoin news, we have a new impressive surge in the price of Bitcoin against the US dollar, an upward move which also triggered most of the major altcoins to follow. The BTC/USD pair also gained traction and moved above the $6,600 and $6,700 resistance levels. Earlier before, there was a decent support base formed near the $6,150 level for Bitcoin - and a price which started an upward move above the $6,300 level and the 100 hourly simple moving average. The upside move was strong as the price broke an ascending channel with resistance at $6,300 - and there was a break above the major bearish trend line with resistance at $6,310 on the hourly chart of the pair. Right now, Bitcoin (BTC) is trading at $6,674 while Ethereum (ETH) is also stable at $213. Ripple (XRP) has also surged by 8% and is now trading at $0.455, followed by Bitcoin Cash (BCH), EOS (EOS), Stellar (XLM) and Litecoin (LTC) which also followed with surges between 4% and 8%. The only downward trend is shown in the cryptocurrency Tether (USDT) which is a dollar-pegged stablecoin that recorded a 3% decrease and is now trading at $0.95, which is a bit below its estimated $1 mark. All of the top 20 coins besides Tether (USDT) have followed the upward moves and saw impressive surges this Monday. Right now, no one knows if the bullish trend will continue and if Bitcoin will drive it by approaching the $7,000 price margin.
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Altcoin News

Bitfinex Introduces Users To A New Reporting Tools Suite

Bitfinex, which is one of the most popular exchanges out there, is in the crypto news lately - this time for launching a new suite of reporting tools that are meant to help users gain a greater control over their Bitcoin and altcoin trading activities. The suite will also provide users with useful details into their activities on the platform. First announced through a blog post on their website, Bitfinex revealed that the suite of tools is designed to help users gain unlimited insights by seeing as much of their data as they want. The suite will help many accounts and will remove the requested data limits. Bitfinex also announced that the user interface (UI) of the new suite is based on an approach known as "modern web technology" that focuses on improving the presentation of data and boosting the responsiveness across different user services. Simple and accessible, the new toolkit will allow users to easily and instantly compile an overview of the account information that may be as old as the account itself. As an excerpt from the announcement reads: “As institutions and professional traders enter the digital asset trading space, Bitfinex remains committed to creating the tools required to thoroughly meet their needs. We are of the belief that our suite of tools works to accelerate the rate of global adoption and help facilitate an increasingly mature market.” Using the Bitfinex API, the new reporting suite now offers a field wallet added to end-point 'ledgers' in order to provide information that identifies the wallet involved in the movements. There are also 'userinfo', 'accounttrades', 'orderHistory' and other modules that help in the presentation and organization of the data on the platform.
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