Security Token Offerings (STOs) Could be Big For Korean Crypto Industry

If 2017 and early 2018 were seen as the year(s) of the ICO then 2019 could well be the year for the STO, security token offering, according to latest research from South Korea.

Security Tokens Still Need Regulation

Initial coin offerings were seen as a great way to launch a project by selling tokens for it in cryptocurrency, which was predominantly Ethereum. However the scammers and shysters soon took advantage of this relatively easy way of making money at the behest of the uninitiated, and on the back of the wave of fomo that was gripping the digital world this time last year.

A large number of ICOs were revealed to be scams with fake teams and non-existent projects. This caused a tsunami of regulatory pressure and kick started the crypto bear market which is still ongoing today.

Security tokens could well be the answer as unlike the majority of crypto tokens they are actually backed by physical assets. They share traits with conventional financial products such as stocks, bonds and derivatives and provide a way for investors to buy a digital stake in a commodity by owning a crypto token backed by it.

According to Business Korea the country’s leading blockchain research centers, Chain Partners’ CP Research and Coinone Research Center, have identified STOs as the next big thing for the crypto industry.

CP Research added that they provide a solution for assets that are difficult to liquidate such as real estate or art. It said that 2019 will see the establishment of an STO infrastructure and the market will grow to an estimated $2 trillion by 2030. The research noted that real estate and venture capital funds have already become tokenized but adoption may still be hindered in South Korea due to its current regulatory stance. According to the report, regulators still claim that cryptocurrencies and blockchain are two different things which could be sending domestic companies abroad to launch STOs.

Coinone Research released a similar report but had a different take on the situation stating;

“STOs which focus only on the liquidation of assets will eventually create a lemon market where only worthless assets are traded. Concentrating only on the possibility of liquidation is a dangerous thought,”

The warning is that this type of investment practice could cause another economic crash similar to 2008 where mortgage backed securities were issued excessively. The purpose of such research was to push the Korean government into formulating clear and concise STO regulations in order to promote healthy investment markets.

Image from Shutterstock

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Security Token Offerings (STOs) Could be Big For Korean Crypto Industry

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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BitTorrent Announces BTT Airdrops for Tron TRX Holders

The BitTorrent token sale is one of the largest and most talked about ICOs of the year. In an effort to boost sales for the new token and the price of Tron, the company has announced a series of airdrops.

Incoming BTT for Tron Hodlers

Starting on February 11 this year and ongoing until 2025 BitTorrent will be distributing BTT tokens to holders of Tron’s TRX. The initial snapshot will be taken when the block height reaches 6.6 million, a counter can be viewed on tronscan.org.

The announcement states that based upon this snapshot the BitTorrent Foundation will initiate the first airdrop of 10,890,000,000 BTT, which corresponds to 1.1% of total circulating supply. Over the following 12 months a further 11.88 billion BTT will be issued to TRX holders increase the fraction of the total to 1.2%. The percentage airdropped will increase by 0.1% per year until it reaches 1.7% in 2025 whereby the figure will be 1.4 billion tokens per month. The medium added;

“To reward TRON’s long-time TRX holders, the BitTorrent Foundation also plans to airdrop additional 99,990,000,000 BTT, during online and offline events, corresponding to 10.1% of the total circulating supply.”

Tokens will be issued on a one to one ratio meaning one TRX gets one BTT and there is no minimum TRX to be held. There has yet to be any confirmation on what exchanges will be supporting the initiative but it is likely all the major ones will. Justin Sun took to twitter to warn users about scams “Be careful with scams. Official airdrops will be announced on our social channels, website, and blog.”

niTROn Summit a Success

Tron has just concluded its first summit during which the BitTorrent token sale was detailed heavily. Former pro basketball start Kobe Bryant was one of the leading figures at the event which the team are touting as a huge success;

https://platform.twitter.com/widgets.js

A few bold predictions have come via observers and supporters of Tron including TRX surpassing EOS and becoming the fourth largest cryptocurrency in 2019. It is currently in ninth place with a market cap just below $1.6 billion. The gap between TRX and EOS in fifth is only $500 million so at this stage it is entirely possible.

At the time of writing TRX was trading down 3.5% on the day and pretty flat over the past week despite good fundamentals. Airdrops are usually a good way to boost prices and free BTT make give Tron the momentum to climb that chart and target fifth spot.

Image from Shutterstock

 

The post BitTorrent Announces BTT Airdrops for Tron TRX Holders appeared first on NewsBTC.

BitTorrent Announces BTT Airdrops for Tron TRX Holders

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

Crypto Market Wrap: $5 Billion Dumped to Bottom of Trading Range

Market Wrap

Crypto markets dump to bottom of trading range, Ethereum, Bitcoin Cash and Litecoin suffering, TenX still climbing.

Following almost a week of inactivity crypto markets have started to dump again. A break through support zones for several of the major crypto assets has resulted in total market capitalization plunging back below $120 billion again for the fourth time since the end of November.

Bitcoin has failed to hold above $3,700 and dumped almost 4% to an intraday low of $3,585. It is currently clinging on to support at $3,600 but is looking bearish at the moment and further losses could be imminent.

As usual the rest of the market has followed suit with Ethereum getting hit harder than the two above it. ETH has plummeted back to $117 with a daily dump of 5.5%. The gap to second placed XRP has widened back up to almost $1 billion again as the Ripple token only lost half the amount.

An entirely red top ten compounds those Monday morning blues with Litecoin losing most of its 5% gained yesterday. Bitcoin Cash has also dumped over 5% and EOS is not far behind it during the day’s Asian trading session. Tether has flipped Stellar again to take sixth spot.

An equally painful top twenty sees Maker slide the most at nearly 9% as it is about to be flipped by Zcash. Cardano, Dash and Neo are all ditching over 5% on the day has markets retreat once again.

TenX is still enjoying the fomo today with a PAY pump of 30% over the past 24 hours. The Singapore issued credit cards still driving momentum for today’s top one hundred performer which is the only altcoin making double figures. Getting dumped by doubles at the moment is Holo, Revain and Augur dropping around 12% each.

Just below $5 billion has been dumped out of crypto since the same time yesterday. The 4% slide has taken market capitalization back to $119 billion, its lowest level since last Monday. The monthly view still shows a range bound market but we are now right at the bottom of that trading range as dark clouds still loom in crypto land.

Market Wrap is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.

The post Crypto Market Wrap: $5 Billion Dumped to Bottom of Trading Range appeared first on NewsBTC.

Crypto Market Wrap: $5 Billion Dumped to Bottom of Trading Range

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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Bitcoin Price Watch: BTC’s Trend Overwhelmingly Bearish Below $3,600

  • Bitcoin price failed to break the $3,750 resistance and declined sharply against the US Dollar.
  • There was a break below a crucial bullish trend line with support at $3,620 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The price is currently recovery, but it likely to face a strong selling interest near $3,560 and $3,600.

Bitcoin price fell significantly below the $3,600 support against the US Dollar. BTC is currently trading in a downtrend and it could resume its decline if it fails to surpass $3,600.

Bitcoin Price Analysis

This past week, there was a slow and steady rise above the $3,600 level in bitcoin price against the US Dollar. The BTC/USD pair even broke the $3,700 resistance level. However, it seems like buyers failed to gain strength above the $3,750 level. As a result, there was a strong downward move and the price declined below $3,700 and $3,600. The decline was such that the price settled below the $3,600 support and the 100 hourly simple moving average.

More importantly, there was a break below a crucial bullish trend line with support at $3,620 on the hourly chart of the BTC/USD pair. Sellers pushed the price below the key $3,550 support, opening the doors for more losses. A low was formed at $3,470 and the price is currently correcting higher. It moved above the $3,520 level and the 23.6% Fib retracement level of the recent decline from the $3,729 high to $3,470 low. However, the previous support at $3,550 is now acting as a strong resistance. If there is a break above $3,550, the price could face sellers near $3,600. It represents the 50% Fib retracement level of the recent decline from the $3,729 high to $3,470 low.

Bitcoin Price Analysis BTC Chart

Looking at the chart, bitcoin price has moved into a bearish zone below $3,600. As long as sellers remain in control below $3,600 and $3,550, there is a risk of more losses below $3,500 and $3,400.

Technical indicators

Hourly MACD – The MACD for BTC/USD is slightly placed in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently recovering toward the 40 level, with a positive angle.

Major Support Level – $3,480

Major Resistance Level – $3,600

The post Bitcoin Price Watch: BTC’s Trend Overwhelmingly Bearish Below $3,600 appeared first on NewsBTC.

Bitcoin Price Watch: BTC’s Trend Overwhelmingly Bearish Below $3,600

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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Crypto Market Tumbles: EOS, Tron (TRX), Bitcoin Cash, ADA Price Analysis

  • The total crypto market cap made a sharp U-turn and declined below the $115.00 support.
  • EOS price is down around 5% and it broke the $2.45 and $2.40 support levels.
  • Bitcoin cash price is under pressure and it recently broke the $125 support level.
  • Tron (TRX) price failed to stay above the $0.0250 support and it could revisit $0.0220.
  • Cardano (ADA) price declined more than 6% below the $0.0450 support level.

Bitcoin and the whole crypto market fell sharply in the past few hours. BTC, Ethereum, ripple, EOS, BCH, ADA and altcoins are currently under a lot of selling pressure.

Bitcoin Cash Price Analysis

Bitcoin cash price failed to stay above the $130 support level and recently started a sharp decline against the US Dollar. BCH/USD declined below the $126 and $125 support levels to move into a bearish zone. The price is down around 5.5% and it may continue to move lower towards the $120 or $118 support levels.

If there is an upside correction, the previous supports near the $125 and $126 levels may now act as barriers for buyers in the near term.

EOS, Tron (TRX) and ADA Price Analysis

EOS price is down around 5% after it failed to gain pace above the $2.65 resistance. The price declined below the $2.50 and $2.40 support levels. The next key support is at $2.30 where buyers are likely to emerge.

Tron price trimmed most of its recent gains and declined below the $0.0260 and $0.0250 support levels. TRX price is down 3.5% and it seems like it may continue to decline towards the $0.0220 support.

Cardano price fell more than 6% after it broke the $0.0460 support. ADA price is now trading near the $0.0430 level, with an immediate support at $0.0420. The next major support is at $0.0412, followed by $0.0405.

Crypto Market Cap  BTC, Ethereum, ripple, EOS, BCH, ADA

Looking at the total cryptocurrency market cap hourly chart, there was a sharp downside reaction from well above the $122.00B level. The market cap dipped sharply below the $120.00B support and a major bullish trend line on the same chart. It opened the doors for more losses and the market cap reached the $112.00B support level. There may be a short term correction, but upsides in BTC, ETH, tron, litecoin, EOS, ripple, XLM, IOTA and other altcoins remain capped.

The post Crypto Market Tumbles: EOS, Tron (TRX), Bitcoin Cash, ADA Price Analysis appeared first on NewsBTC.

Crypto Market Tumbles: EOS, Tron (TRX), Bitcoin Cash, ADA Price 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