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While getting ready for Brexit, here is what Boris Johnson plans to do with EU commerce: “We are proposing that all customs processes needed to ensure compliance with UK and EU customs regimes should take place on a decentralized basis, with paperwork conducted electronically as goods move between the two countries, and with the small number of physical checks needed conducted at traders’ premises or other points in the supply chain.” It looks like the biggest blockchain implementation so far.
The company managing Tether, one of the dominant stablecoins on the market, is afraid to be involved in a lawsuit for market manipulation. Tether has been at the center of several major market movements related to Bitcoin and its price. Complaints on potential market manipulation have been around for some time. Now it looks likely they will turn into actual legal action.
Apple’s CEO announced they will never get into crypto and won’t develop their currency. This comes almost a month after the company’s vice-president declared they were looking into possible cryptocurrency operations. The backlash following the announcement of Libra has apparently cooled off several major tech companies, including PayPal and Square. On the opposite side, the world’s biggest furniture manufacturer, IKEA, is piloting a project based on Ethereum smart contracts. It just settled an invoice on the Ethereum blockchain.
TON Labs, the organization which is developing the Telegram Open Network, confirmed that the TON network would be launched on October 13, or before. At such a time, the management will be turned over to the network itself, and investors will receive their first GRAM tokens. The software has already been published last month, after over one year of almost secret development. Investors have financed the project for a value of $1.7 B, valuing the experience of the development management & team. Telegram is a major competitor to Facebook & WhatsApp and brings to the table 351 billion users worldwide and a very high level of competence. The TON blockchain has been developed to be highly scalable, fast, and it allows us to develop smart contracts.
German State Bank, Bayern LB, predicts Bitcoin to rise to $90K after halving next year, May 2020. Global financial markets are getting very tight on liquidity, and this could favor both gold and cryptocurrencies in the future. Some analysts predict BTC to reach $ 20,000 by the end of this year. Visa and Mastercard consider leaving the Libra project, which could tarnish their image and create other complications.
Bayern LB, one of the most important banks in Germany, published a report which strongly supports Bitcoin as an alternative to gold. The report also predicts $ 90,000 of value for Bitcoin after the halving planned for mid-2020. In the meantime, Ethereum transaction fees drop below a penny as the previous network congestion clears. Yet the Ethereum blockchain is almost full, and major changes are needed. The next Ethereum hard fork, named Instanbul, will break 680 existing smart contracts on the decentralized management platform Aragon. This will tank some of the projects launched on the platform and is apparently a price to pay for Ethereum’s evolution.
Binance, the biggest cryptocurrency exchange, has 60% of voting power over the TRON network. In this way, it can collect the majority of the TRON block rewards. Binance elected itself as a TRON Super Representative, trumping all other Super Representatives. Super Representatives oversee the network’s operation and get rewarded accordingly. The apparent control position gained by Binance is bad news for TRON, which will have to change the way it distributes block rewards. Ethereum Instanbul hard fork is creating instability on the Ropsten testnet. A major miner is sticking with the old version of the software preventing the hard fork test from completing successfully. The hiccup might influence the hard fork activation. In the meantime Ethereum is still suffering of performance problems and its blockchain is getting almost full.
Bitcoin’s adoption by the general public is hampered by seven key misunderstandings. Some experts summarized them for you: You need first to understand why Bitcoin before you figure out what it is.Bitcoin is not mainly used by criminals and doesn’t provide any real anonymity.It is not just a technology, but rather a form of money, so it should not be changed continually.Bitcoin is not a payment mechanism but rather a savings technology.It does not use an enormous amount of energy, but rather it uses less energy than other forms of finance that require many intermediaries.It cannot be compared to older technologies.Most mainstream media really don’t know what they are talking about when discussing about Bitcoin.Calvin Arye, a supporter of Bitcoin SV, claims that the biggest crypto exchange in the world, Binance, rests on shaky legal grounds and will be shut down within one year.
Bitcoin is back above $ 8,000, but the market is still volatile. A significant vulnerability has been discovered in the Lightning Network which operates parallel to the main Bitcoin network to facilitate small transactions. Rusty Russel, one of its leading developers, discovered that network nodes were not performing some needed basic checks. And it could have lead to false payments. They now claim that the bug is fixed. But there are concerns over the overall architecture of the Lightning Network since it doesn’t protect against the double-spending problem.
Bitcoin Crash Prossibly Due To US Dollar Shortage. Bakkt Is Changing The Structure Of The Crypto Market & MoreCryptoEnsemble Crypto Reports
In several recent overnight operations, the Federal Reserve injected a total of $ 203 billion into the US banking system. This type of cash injection had not happened since the big US crisis of 2008 and gave banks the liquidity needed to finance their day-to-day operations. Sensing a significant shortage of dollars on the financial markets, some investors are turning away from the Bitcoin. Investors also blame the launch of Bakkt as a major crisis factor. The availability of an official futures exchange for BTC has changed the structure of the market.
Bad Time To Trade Bitcoin As Price Manipulation Continues. Lightning Network Usage Reaches All-Time High & MoreCryptoEnsemble Crypto Reports
Bitcoin price manipulation is obviously back. This is a bad time for trading as speculators are triggering wide price fluctuations in order to gain an advantage on them. Trading in Bitcoin can be very dangerous unless you plan to accumulate and hold over a long time. At the same time the Lightning Network, which processes small payments a parallel to the Bitcoin main network, has reached an all-time high. This would indicate an increase in everyday use of BTC as a payment tool, which would herald a probable future increase in value for BTC. But the road is probably going to be bumpy until the halving of the BTC mining reward next year.
$ 37 billion disappeared from the cryptocurrency market in just 24 hours. Bitcoin lost 17% of its value, and Altcoins lost about 20%. Ethereum’s recent gains have been wiped out. BTC hash rate has recovered after the flash crash but didn’t go back to its record value of a few days ago. Bakkt and Binance US launches have been disappointing. In the meantime, California-based SoFi offers zero-fee cryptocurrency trading to its financial investment platform.
A major shakedown just happened in the cryptocurrency market accompanied by a flash crash of Bitcoin’s hash rate. It is happening right on the heels of a significant announcement, an event that should bring more stability and recognition to Bitcoin (BTC) as an investment vehicle. The launch of the first BTC futures market, Bakkt, happened on Monday, is a substantial even for institutional investors. At the same time, BTC ATMs are popping up everywhere, and Bitcoin is welcome by a growing number of stores. It tastes like consolidation.
Bakkt, a company owned by the Intercontinental Exchange, has just launched the first Bitcoin Futures market. It is a significant event for institutional investors who already trade with ICE on other major commodities. Bakkt’s CEO stresses three reasons why the event matters: Reliable and regulated infrastructure;Adoption of new digital currency-powered technology and financial instruments;The rapid expansion of innovative methods for managing and transferring digital value.All of them can contribute to growing the acceptability of Bitcoin (BTC) as a significant investment vehicle. Binance, the biggest cryptocurrency exchange in the world, just opened its new US operations.
Bakkt, the first Bitcoin Futures exchange starts its activity on September 23rd. It is owned and controlled by ICE, the American company that controls and operates 12 commodity exchanges in the world. It is a major event signaling the adoption of Bitcoin by institutional investors. It is expected to have a positive effect on Bitcoin price, even if not immediately. Banking giant HSBC sees XRP as a tool for completely changing the banking market. It would bring lower costs and risks in finance.