Crypto Tidbits: Bitcoin SV Delisting, Binance Chain Launch, HTC Backs Blockchain Fund

Another week, another round of Crypto Tidbits. The movement in the value of Bitcoin (BTC) has slowed, with volume and volatility falling across the board, but underlying industry developments were absolutely monumental.

Bitcoin Satoshi’s Vision (BSV) was delisted on an array of exchange; Binance launched its own blockchain, sparking a BNB price surge; a report revealed that endowments are piling into this industry en-masse; technology giant HTC backed a blockchain fund, and a prominent U.S. presidential candidate called for the correct regulation of digital assets to promote their growth.

Related Reading: Crypto Tidbits: Bitcoin Passes $5,000, SEC Doubles-Down On Crypto, Binance DEX Nears

Crypto Tidbits

  • Bitcoin SV Delisted On An Array Of Exchanges: Over the past two or three weeks, a whole hubbub has erupted about Craig Wright and his claim that he is Bitcoin creator Satoshi Nakamoto. Wright claims that he is, as others have rebuked him. The debate reached a point where Wright, Calvin Ayre, and the rest of their camp, all supporters of Bitcoin Satoshi’s Vision (BSV), sent legal letters to an array of industry leaders: podcaster Peter McCormack, Lightning Network proponent Hodlonaut, and Ethereum’s Vitalik Buterin. And with that, the community fought back, urging exchanges listing BSV to delist the asset. Eventually, Binance agreed, as did ShapeShift, Blockchain.com, and Kraken, leading to a collapse in the price of the cryptocurrency.
  • Binance Chain Finally Launches, BNB Surge: After months, potentially even a year of waiting, Binance Chain, the native blockchain of prominent industry upstart Binance, has launched for a public audience. The launch of a decentralized exchange (DEX) based on the platform is expected to soon follow. As a result of this move, which one or two pundits have called one of the biggest crypto-related news items of the year, Ethereum-based projects have begun to prepare to move to this sleeker option, BNB has surged to new all-time highs (even in this bear market), and the broader market has started to tick higher.
  • ConsenSys Seeks Funding As “Crypto Winter” Wraps Up: According to a recent report from The Information, New York-headquartered blockchain group, ConsenSys, headed by Ethereum co-founder Joseph Lubin, is currently searching for a large sum of venture capital funding. Citing “several people with knowledge of the plans,” the outlet explains that ConsenSys, which houses MetaMask, Infura, and countless other key pieces of Ethereum infrastructure, is actively seeking $200 million from “outside investors,” after operating off Lubin’s Ether stash for years on end. While this nine-figure sum is ludicrous in and of itself, the $200 million seems even crazier when you factor in the mere $21 million the firm dragged in for fiscal 2018, and that ConsenSys is seeking a valuation of “at least $1 billion.”
  • Endowments Are Already Piling Into Crypto & Blockchain: According to a debrief of a crypto-centric survey, conducted by The TRADE Crypto and American crypto firm BitGo, 94% of 150 endowments polled have invested money in crypto-related projects in the past year, even amid the collapse in Bitcoin. The average amount invested was not disclosed, but endowments’ allocations to this asset class and related technologies likely range in the low single-digit millions to low double-digit millions.
  • Community Rallies To Donate Cryptocurrency After Notre Dame AccidentIn spite of the collapse in the value of Bitcoin over 2018, cryptocurrency investors seem to be rather generous. In a recent series of comments on Twitter, an array of crypto enthusiasts across the map have urged French organizations and potentially even the government itself to accept digital assets for the Notre-Dame Cathedral’s restoration efforts. A government representative, the Minister of Digital Affairs, has actually responded to these urges, telling news outlets that he is looking into the acceptance of cryptocurrencies, as Binance has utilized its charity branch to start raising funds.
  • #YangGang: Presidential Candidate Releases Crypto Regulation PolicyAndrew Yang, an entrepreneur and businessman turned U.S. presidential candidate, recently polled to have 3% chances at winning the presidency, released a statement on digital assets last week. Yang claimed that if he took the Oval Office, he would establish regulatory clarity to promote the growth of this sector, as he, on many occasions, have lauded blockchain as the future of many industries.
  • Bakkt’s Bitcoin Futures Are Having Trouble With The CFTC: Bloomberg, citing those familiar with Bakkt’s operations, recently remarked that the U.S. Commodity Futures Trading Commission (CFTC) isn’t all too excited with Bakkt’s proposal. The people familiar told the outlet that the CFTC is primarily concerned with how the cryptocurrencies of Bakkt’s clients would be held in the vehicle of the proposed physical futures, as BTC needs to be stored to back the contracts. It was claimed that instead of a green light from the CFTC, Bakkt is looking for a stamp of approval from New York’s regulators, which have historically been stringent but cautiously amicable towards Bitcoin-related ventures.
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Crypto Tidbits: Bitcoin SV Delisting, Binance Chain Launch, HTC Backs Blockchain Fund

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

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Crypto Market Targets Fresh Highs: BNB Eyes $30, Bitcoin Cash, EOS, Tron Analysis

  • The total crypto market cap is positioned for more gains above the $180.0B resistance.
  • EOS price is consolidating gains near $5.50 and it could surge above $5.60.
  • Binance Coin (BNB) rallied above the $22.00 and $25.00 resistance levels.
  • Bitcoin cash price is back above the $300 support area, with a positive angle.
  • Tron (TRX) price is struggling to break the $0.0265 and $0.0268 resistance levels.

The crypto market cap setting up for a new monthly high, with strong gains in binance coin (BNB). Bitcoin (BTC), Ethereum (ETH), bitcoin cash, tron (TRX), ripple, litecoin and EOS remains supported on dips.

Bitcoin Cash Price Analysis

The past few hours were positive since bitcoin cash price found support near the $292 level against the US Dollar. The BCH/USD pair climbed back above the $300 support level and it is currently trading with a positive bias. On the upside, a break above the $305 and $310 resistance levels is must for more gains above the $320 level.

On the downside, the main support is at $292 and $290, below which the price could move back in a bearish zone in the near term.

Binance Coin (BNB), EOS, Tron (TRX) Price Analysis

EOS price climbed above the $5.50 level, but it struggled to gain momentum and it is currently consolidating in a tight range. On the upside, a break above the $5.55 level is needed for more upsides above the $5.60 resistance area. On the downside, the price could test the $5.42 support level.

Tron price faced a strong barrier near the $0.0265 and $0.0268 resistance levels. TRX price recently corrected lower and tested the $0.0262 level. The next key support is at $0.0260, where buyers are likely to emerge in the coming sessions.

Binance coin (BNB) extended gains above the $20.00 and $22.00 resistance levels. BNB price is up more than 6% and it is currently consolidating near the $25.00 level. There could be a short term downside correction, but the $24.00 and $23.60 levels are likely to act as supports. On the upside, the bulls might target a new all-time high above the $30.00 level.

Crypto Market Cap Bitcoin Cash Binance Coin BNB BCH EOS TRX

Looking at the total cryptocurrency market cap hourly chart, there was a steady rise above the $162.00B level. The market cap broke the $168.0B and $170.0B resistance levels. The main resistance is at $180.0B, above which there could be a sharp rally towards the $195.0B level. On the downside, there is a key bullish trend line in place with support near the $169.0B level. Therefore, if there is a downside correction, dips remain supported in bitcoin, ether, TRX, LTC, EOS, ripple, ADA, XLM, WAN, BCH, XMR and other altcoins in the near term.

The post Crypto Market Targets Fresh Highs: BNB Eyes $30, Bitcoin Cash, EOS, Tron Analysis appeared first on NewsBTC.

Crypto Market Targets Fresh Highs: BNB Eyes $30, Bitcoin Cash, EOS, Tron Analysis

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

Blockchain 101 · Crytpo Currency Market
—————————————————
Trezor: Hardware Wallet
Binance: Exchange for Traders
Ledger Nano S: Hardware Wallet
Coinbase: Exchange for Investors
CoinSwitch: Wallet-to-Wallet Exchange

Bibox Announces Bibox Orbit, Offers Opportunity to Buy into Four Blockchain Projects

The well-known digital asset exchange Bibox has embarked on a mission to expand the blockchain ecosystem. As a part of its initiative, the Estonia based company has announced the launch of Bibox Orbit, set to go live on April 22, 10:00 (GMT +8).  Bibox Orbit is a token launch platform that is designed to enable the community to get involved in high quality decentralized projects, encouraging their development and deployment.

The Bibox Orbit program has already short-listed 4 projects which exhibit a huge potential. The projects, handpicked from hundreds of applications received for the program includes: The Force Protocol, Ludos, STAKING and the X-Block. These projects make up for the first phase of implementation and in the near future, the platform will continue listing new DLT projects capable of meeting various real-world requirements of multiple industry segments.

Explaining about the selection process, the co-founder of Bibox, Aries said, “We’ve received plenty of applications from premium projects, and we’ve spent quite a lot of time communicating deeply with these projects. Based on their application information, we’ve also made an evaluation from multiple dimensions, such as the team members, projects application scenarios, community engagement, white paper, project investors, etc., to have a comprehensive understanding of the project.” Further adding, “In terms of projects selection, we are inclined to those with an understandable token economy, innovative technology, rich application scenarios, and easy to be applied in real life. Investors background is also one of the key factors we take into account.”

Once the Bibox Orbit program is launched, users on the platform can start purchasing tokens for the 4 listed projects. In order to participate users will have to ensure that they have BIX tokens on the Bibox platforms, as it is the only accepted payment method during this first phase. The BIX token holders should also complete their KYC before participating in the Bibox Orbit program.

The pre-purchase starts at 10:00 (GMT +8) on April 22 and go on till 17:00 (GMT +8) of the same day. The drawing time is set for 20:00 (GMT +8) on April 22, 2019.

Overview of the Projects

Here is a brief overview of the 4 projects chosen to be part of the inaugural Bibox Orbit program.

The Force Protocol: A Singapore-based open source blockchain platform, the Force Protocol offers cryptofinance solutions for the benefit of global asset lending market. Developers using the Force Protocol can implement smart contracts, shared trading book, automatic brokers among others to solve the real-world problems revolving around the traditional lending market.

Ludos is a Singapore-based gaming public chain platform with multi-sidechain and cross-chain technology that allows gamers to manage and trade their gaming assets. Ludos helps developers and game studios to crowdfund development, allowing them to issue game assets and benefit from the operation toolbox offered by the platform.

STAKING:  The third shortlisted platform for Bibox Orbit, STAKING is a decentralized asset management platform with a sophisticated system infrastructure that allows investors to stake their assets without worrying about any security concerns. The platform ecosystem is comprised of PoS mining pool and infrastructure for Decentralized Finance (DeFi) market, that aims to reform the finance industry by combining Edge Computing, Trusted Computing and Blockchain technology. STAKING is known to offer annual yields ranging from 5% to 155% to its investors.

X-Block, the global decentralized fog supercomputing network based on blockchain 4.0 addresses the increasing need for processing power. Unlike conventional cloud computing solutions, X-Block fog computing enables access enterprises to access more service resources at a fraction of cost. The platform’s IX tokens use win-win cooperation between the computing resource receiver and resource provider to finally achieve a virtuous cycle of the whole blockchain ecology.

Participating in the Purchase Process

The participation process on the Bibox Orbit is simplified to a great extent and those BIX token holders who plan to participate in the process will have to just follow a handful of instructions to buy into any or all the four listed projects. While there is no minimum barrier of entry, the platform has set a total maximum participation cap of $5000 across all projects.

Once the Bibox Orbit goes live at 10:00 AM (GMT +8) on April 22, participants meeting the eligibility criteria should transfer BIX to the event page according to the pre-purchase amount and personal pre-purchase limits.

Participants can independently allocate the maximum individual purchase amount among the four projects, such that the total allocation doesn’t exceed the maximum of $5000.

At the drawing time – 20:00 (GMT +8), each project will be drawn according to the total amount of the user’s application and the actual amount of the project. The highest actual amount an individual can get is $800.

The tokens pre-purchased by the users will be released to the user accounts before the launch of the projects on Bibox. Any BIX corresponding to unsuccessful purchase will be refunded to the users’ accounts within one business day.

Possibility of Draw Winning

The winning rate between different projects may vary due to the difference between actual sales volumes and user applications. In a same project, higher the amount pre-purchased, higher will be the probability of the winning draw.

More information about Bibox Orbit is available at – https://www.bibox.com/orbitIndex

The post Bibox Announces Bibox Orbit, Offers Opportunity to Buy into Four Blockchain Projects appeared first on NewsBTC.

Bibox Announces Bibox Orbit, Offers Opportunity to Buy into Four Blockchain Projects

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

Blockchain 101 · Crytpo Currency Market
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Trezor: Hardware Wallet
Binance: Exchange for Traders
Ledger Nano S: Hardware Wallet
Coinbase: Exchange for Investors
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Binance Chain Could Send Ethereum Price Back to Double-Digits: Analyst

Crypto exchange Binance has launched its custom blockchain solution Binance Chain on April 18. But the move might threaten to burn a hole in Ethereum’s pocket.

Telegram-based market analysis and trading log, the Gem Club, said Thursday that new cryptocurrency projects had no benefit while choosing the Ethereum blockchain over Binance Chain. The analyst noted the new custom chain could replace Ethereum when it comes to listing projects and issuing their tokens.

“BNB is going to have a devastating effect on ETH and send it back to double digits,” wrote the Gem Club. “There is almost no benefit of choosing ETH over Binance chain aside from a bit more decentralization. Projects moving to Binance Chain will receive a ton of attention, listings, [and] more.”

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The prediction came in the wake of BNB’s impressive performance over the last year. The seventh-largest cryptocurrency posted more than 80 percent returns for its investors over the previous 365 days. It became the only crypto-asset that retested its historical high while other top coins remained far from achieving similar mettle. BNB’s deflationary supply model further helped it become the most attractive investment before both near- and long-term investors.

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As of this Friday, BNB’s total return on investment was a whopping 9,000 percent since launch.

The Migration Begins

Binance has announced that it would execute its mainnet swap on April 23. The event would prompt BNB holders to exchange their Ethereum-based ERC20 balances for a revamped, native Binance Chain-based BEP2 ones. The migration would see a large section of ERC20-enabled BNB holders move their base to BEP2-enabled wallets, including everybody from individuals to full-fledged projects. And those that want to remain back with the Ethereum blockchain will send their BNB balances to ERC2o standard wallets.

Decentralized social media platform Mithil is the first blockchain project to have lured itself towards Binance Chain. The startup earlier issued its MITH tokens on the Ethereum blockchain but found better prospects in Binance Chain, which comes with a full-fledged decentralized exchange. The move enabled Binance to add MITH/BNB and MITH/USDT pairs on its trading platform.

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MITH’s addition to the Binance exchange helped the token surge 25.75 percent in just 24 hours, indicating that investors believed the migration was a bullish move in the short-term.

Following Mithril, Atomic Wallet too decided to switch from Ethereum from Binance Chain. And now, rumors of ENJIN Coin thinking about migrating to Binance Chain are making rounds on the social media. Enjin CEO Maxim Blagov said earlier in an ask-me-anything that their next significant feature had something to do with Binance Chain.

Conclusion

The fact that big projects are leaving Ethereum for Binance Chain could put prompt the former to face interim losses. But, at the same time, it is essential to understand that Binance Chain does not come with a smart contract feature, which means projects seeking the decentralized contract settlement technology would any day prefer to stay with Ethereum.

The post Binance Chain Could Send Ethereum Price Back to Double-Digits: Analyst appeared first on NewsBTC.

Binance Chain Could Send Ethereum Price Back to Double-Digits: Analyst

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

Blockchain 101 · Crytpo Currency Market
—————————————————
Trezor: Hardware Wallet
Binance: Exchange for Traders
Ledger Nano S: Hardware Wallet
Coinbase: Exchange for Investors
CoinSwitch: Wallet-to-Wallet Exchange

Dear Bitcoin Traders, Golden Cross is Not Always a Bullish Signal

The entire bitcoin trading community is holding its breath for a crucial bullish signal known as the Golden Cross.

It started on April 2 when the bitcoin price – at last – broke above a stringent resistance area and surged 23 percent in a day. This upside swing changed the market’s entire dynamics. Almost all the technical indicators that were screaming bearish turned bullish overnight. Buying sentiment returned. Selling sentiment decreased. But most importantly, bitcoin managed to sustain its gains even though it did not extend it.

Profit extension is now what the bitcoin trading community seeks — many waits for big whales to purchase bitcoins at recent higher lows so the price surges and strengthens the bullish sentiment further. But wait  we were talking about the Golden Cross.

Understanding Bitcoin’s Killer Bullish Signal

A golden cross is established when a market’s short-term moving average crosses above its long-term moving average. Speculators take it as a sign of an extended bullish sentiment. That said, a golden cross signal in the bitcoin market is Christmas to many. Have a look:

bitcoin

The surging bitcoin price awaits its ‘Golden Cross’ moment | Source: TradingView.com

The red curve in the chart above is bitcoin’s moving average calculated over 200 days.

Similarly, the blue one below reflects 50 days. The near-term moving average tends to rise faster than the long-term when market notes enormous interim buying volume. As a result, the 50-days moving average crosses above the 200-days one. That is what defines a Golden Cross.

Not Always Bullish

The history of the financial market shows that investors love the golden cross. For instance, the Dow Jones industrial average experienced the phenomenon on April 26, 2016, after four years. What ensued was a steady upside swing in which the DJI surged from 18,080 points in April 2016 to 26,743.50 points in September 2018.

But wait, there is another story.

In 2014, the gold market formed the golden cross four times: 2009, but a big rally followed only one time. Have a look at this chart (courtesy to our friends at SunshineProfits.com):

bitcoin, gold, golden cross

A failing Golden Cross in the Gold market | Source: Sunshine Profits

The statistics prove that the Golden Cross indicator worked for any market but the Gold. It should particularly interest the investors who believe bitcoin is some “digital gold.” Of course, the cryptocurrency’s underlying market dynamics are strikingly similar to that of the yellow metal. They both are durable, scarce, and have properties similar to commodity assets. So it would be safe to assume that the bitcoin market is more likely to behave like the Gold market.

Well, the Golden Cross does not work for Gold as much as it works for the S&P 500, DJI and Nasdaq.

“Rather than focusing on something with a mixed record, you should focus on the pending shift in Fed policy,” writes Jordan Roy-Byrne from Kitco. “The historical data shows that is when rebounds and bull markets usually begin in gold stocks.”

So, as a risk measure, we bitcoin traders should not entirely depend on the Golden Cross. Fewer losses can also mean more gains, after all.

The post Dear Bitcoin Traders, Golden Cross is Not Always a Bullish Signal appeared first on NewsBTC.

Dear Bitcoin Traders, Golden Cross is Not Always a Bullish Signal

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

Blockchain 101 · Crytpo Currency Market
—————————————————
Trezor: Hardware Wallet
Binance: Exchange for Traders
Ledger Nano S: Hardware Wallet
Coinbase: Exchange for Investors
CoinSwitch: Wallet-to-Wallet Exchange