Weekly Crypto News

Weekly Crypto News

Robert Shiller, Nobel laureate in Economics: “Cryptocurrencies could be the latest case of more than a century’s worth of failed efforts to revolutionize money”. 

Cryptocurrencies

  • Bitcoin is plunging. Negative comments in the media and stricter regulations continue to weight on the cryptocurrency.  Bitcoin broke the support at $7,700 and reached lows of the middle of April 2018. Up to date the digital currency is trading near $7,200. The next support is at $6,400.
  • Tom Lee, Fundstrat Global Advisors Head of Research, who predicted the rise of Bitcoin to $15,000 after a conference “Consensus 2018”, predicts Bitcoin will reach $25,000 by the end of the year. According to Mr. Lee, the cryptocurrency does not have to surge daily to reach that level.

BitcoinDaily.png

  • Banks are closer to a replacement of SWIFT transactions with Bitcoin transactions. An Argentinian Bank Banco Masventas together with a cryptocurrency exchange Bitex plan to implement international transactions in Bitcoin in the near future.
  • A network of Bitcoin Gold was hacked. A hacker managed to steal 388K tokens = $18 million.
  • Two start-ups with a support of a co-founder of PayPal Peter Thiel are raising money to create two artificial islands in the Pacific Ocean. Citizens of the islands won’t be under control of any state and will use cryptocurrencies as means of payment.

Regulation

  • Financial regulators of the US and Canada are conducting a joint investigation against cryptocurrency scammers. 70 cases are being investigated. 
  • According to Bloomberg, U.S. Department of Justice is investigating a manipulation with cryptocurrencies’ rates.  

Cryptocurrency exchanges

  • A cryptocurrency exchange Huobi Pro implemented a cryptocurrency index that tracks data on 10 assets in relation to USDT.
  • Coinbase announced an acquisition of the Paradex trading platform, as well as the rebranding of the GDAX platform.  GDAX will be called Coinbase Pro and it will work mostly with individual cryptocurrency investors. Coinbase will make some changes to the technology of Paradex, so, it will let clients outside the US access the platform.

Blockchain

  • Commerzbank and ThyssenKrupp have replicated a foreign exchange transaction using blockchain. According to the Commerzbank, the use of the blockchain could help reduce delays and manual errors.
  • A new crypto trading protocol Tari will be launched on a base of a network of Monero. It will help support non-fungible tokens - tokens with unique properties, such as tickets with ownership information.

 

Bitcoin $7,418 (+0.04%)

DASH $329.78 (-1.41%)

Ethereum $593.90 (+2.86%)

Litecoin $119.35 (+1.72%)

Similar

Latest news

Greenback edges down

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera