Institution Oriented Crypto Exchange Seed CX Cuts Trading Fees

Chicago based crypto exchange Seed CX has cut its trading fees.

Edward Woodford, co-founder and CEO of Seed CX said:

“With our aggressive fee schedule and low slippage books, we continue to be the leading venue globally for cost of execution in the digital asset space. Our one basis point rebate for making is designed to encourage continued tightening and depth in our books. We look forward to continuing to lead institutional digital asset trading with best execution, operational support and technology.”

The exchange officially launched in January, is a regulated institutional cryptocurrency execution and settlement ecosystem. Additionally, both spot and derivatives (pending regulatory approval), Seed CX also offers a regulated post trade settlement infrastructure as well as on/off ramp access for 20 world fiat currencies.

Rather than a multi-tiered fee structure offered by several major exchanges, where traders get lower rate if their transactions reach a certain volume, Seed CX aims to give every participant the best rate possible. Fee compression is already at an advanced stage at Seed CX, while other crypto exchanges still have room to cut, David Martin, chief investment officer at asset manager Blockforce Capital.

Seed CX operates a digital asset exchange built expressly for institutional investors. Through its subsidiaries, Seed CX offers a market for institutional trading and settlement of spot digital assets and plans to offer a separate market for CFTC-regulated derivatives.

There’s a new partnership in the digital asset space, as technology provider Itiviti has announced that it has partnered with Seed CX. The collaboration will allow traditional institutional firms that use Itiviti’s NYFIX network access to Seed CX’s digital asset exchange and settlement ecosystem.

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Author: Sritanshu Sinha

Breaking: Bitcoin Price Drops to Nearly $9,900 Yet Again

  • Analysts and traders expecting a downward move

Bitcoin is back in the red zone.

Starting the day around $10,175, Bitcoin continues its downward move, going down to as low as $9,913.

Currently, BTC is trading at $9,993 with 24 hours loss of about 2 percent, as per Coincodex. Daily trading volume registered by the leading cryptocurrency is still low at $490 million.

Analysts and Traders Expecting a Downward move

Analyst The Cryptomist says,

“I am looking at one more touch on RSI pennant on both support and resistance before big move!”

Another bearish projection is made by veteran trader Peter Brandt as he comments on Bitcoin’s descending triangle.

“One thing I have learned from 45 years of trading: Markets have a tendency to do what the most number of market participants least expect and don’t want to happen. Descending triangles are most often bearish.”

And another bearish one,

Trader and investor Josh Rager also sees Bitcoin heading back down to $9,600 to $9,700.

Altcoins Following Bitcoin

We started the week at above $10,300 only to take a drop to almost $10,000 level and then back above $10,300 on the same day.

After not registering much movement rest of the week, on Sept. 19, Bitcoin tumbled down to $9,600, losing almost $500 under 5 minutes.

Then, the same day BTC price went back to $10,300 and since then it has been constantly moving downwards.

Altcoins, after having a great start of the week are back in the red with Stellar (XLM) in the lead registering 5.61% loses.

Interestingly, the total market cap has come back to where it started the week at $266 billion. During this week, we went as high as $273 billion and dropped as low as $261 billion, to no effect.

BTC dominance, on the other hand, is currently at 69.4%, down from 71.6% from earlier this week and 73.5% from earlier this month, as per TradingView.

Next week is expected to be an interesting one as two big events, in the form of Bakkt’s physically settled Bitcoin futures launch and CME’s Bitcoin futures expiration are projected to define the BTC price movement for the coming weeks or months.

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Author: AnTy

Chinese Interest in Bitcoin has been on the Rise in 2019

China’s relationship with Bitcoin is something that has been a source of much speculation in the cryptocurrency space.

From banning the trade of Bitcoin in 2017 to legalizing owning the digital currency, the stance keeps on changing. What’s not changing is the rising interest in Bitcoin.

In 2019, Chinese interest in BTC, as measured by Baidu searches, has been on the rise, notes economist and trader Alex Kruger.

A spike in Bitcoin searches occurred simultaneously with the searches for trade war and Trump.

This year we saw Bitcoin moving in response to the development in the US-China trade talks. Earlier this month, Bitcoin jumped after Trump Tweeted and Chiense Yuan broke its important physiological level of 7 against US Dollar.

“Continuation of the trade war means BTC up. The longer the war runs, the higher bitcoin will go,”

said Clem Chambers, CEO of private investors website

This has him predicting Bitcoin to soar above

“ £20,000 by Christmas or sooner.”

Most recently

Bobby Lee — co-founder and former CEO of China’s first crypto exchange BTCC — says the Chinese have always thought of Bitcoin as an investment rather than a payment system.

Bitcoin searches may seem to often move in line with USDCNY searches (贸易战, red) … however, that’s likely due to the weekend effect (interest for both decreases during weekends, even BTC). The Aug/5 USDCNY breakout may be an exception, as everyone started talking about it.

This chart shows bitcoin searches’ peaks of 2019.

It’s safe to assume interest is usually driven by price, rather than vice versa, although there should be a feedback loop in play.

For a better analysis, one needs the time series, ideally with intraday periodicity, to run stats.

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Author: AnTy

CipherTrace Unveils Scout App, A Blockchain Forensics Tool To Investigate BTC And ETH Transactions

A well-known blockchain forensics company called CipherTrace has recently started launched CipherTrace Scout, a new mobile app that can be used to flag BTC and ETH tokens that were involved in criminal transactions.

The main goal of the new app is to give investors more freedom while they are tracking cryptos. Most crypto tracking software until now were not mobile, so street-level investigators would need an office to use them. With the help of this app, however, they can do it while working in the field.

CipherTrace Scout will have several tools that can be used for investigation. The main tool is a feature that lets the investigator flag tokens that were used illegally. After flagging them, they can be tracked and seen. This can help to see clearly who is using the money for illegal activities.

Julio Barragan, an analyst at CipherTrace, affirmed that the reports are generated instantly and that they are pretty accurate. This, experts affirm, can have immediate uses in police work.

This is, however, not really such a new product. Investigators in countries such as the U. S. are already using crypto software to track criminals for a long time. The difference is that the services tended to be harder to use before and now companies are starting to perceive that they need to improve the usability of these products to make them more useful.

CipherTrace Scout is a product that is adapting to current trends. It can be used to understand how cryptos are used on the street level. Cases of small drug sales, child pornography and others can be traced more easily with its help. Cryptos are getting very easy to acquire, so more people are obviously going to use it, and this means that it will be used in crimes as well.

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Author: Daniel W

Verizon Awarded New Patent To Create Virtual SIMs Using The Blockchain

The telecom giant Verizon has just won an important new patent. The patent is related to a new product of the company that will be used on using the blockchain to create SIM cards in a much more dynamic way.

According to reports, the patent describes how to replace a SIM card by a virtual one, which would be secured using the blockchain technology. A blockchain record would be created on the blockchain for the vSIM and a certificate would be created. After that, the vSIM number would be linked to the person’s account and activated via smartphones.

Verizon would have nodes that would be used to create a distributed network that would prevent the system from being attacked or tampered with. According to the company, the technology would be protected by a hash three structure and all the data would never be altered, as the blockchain is immutable.

One of the main attractions of the technology, despite its security, is that the vSIM number could be used by more than a single phone at a time. The number could even be temporarily linked to other users for some time and then revoked. This would make the vSIM technology much more malleable than the one that is being used today.

The patent states that with a single implementation, the users could accept new vSIM certificates, transfer them and deliver certificates to other users. A company could, for instance, buy several numbers, assign to employees and then later re-assign these numbers to other employees later.

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Author: Gabriel Machado

Swindling Advertisements on Facebook Try to Con Investors About Joining TON Investment

Fake news has been making rounds on Facebook about being part of the Telegram Open Network platform.

Kommersant, the Russian news outlet reported that ads were appearing that promoted a certain “Successful Investor” account on Facebook. Upon clicking the ad, you are directed to a website that purports to be Russian economics and technology media outlet RBC.

You will find a publication that resembles an investigation article; it has links to a website. The site has got a video that shows “unique scheme” of getting cash and also provides you with a registration form that is allegedly for TON platform.

A domain search service, Whois says that the domain for that website was registered back on Aug 30. The scheme promises users that they could take home $150 to $235 on a daily basis after they have given out their telephone numbers and email addresses. It is to be treated as a fraud because TON platform is yet to be unleashed.

However, as we drew close to the end of August during the $1.7 billion initial coin offering for Telegram, three anonymous investors said that Telegram was prepared to sell the foremost Gram tokens by October of this year.

TON Platform

Telegram unleashed its node software and TON testnet explorer on its website earlier this month. This is already 2 months ahead of the scheduled instigation of the digital currency (Gram).

Cointelegraph in April said that Telegram had granted access to a testing version that was to be discreet on the TON blockchain to several developers. The blockchain platform had extremely high transaction speed according to the anonymous test developers. This meant that the technology would be useful and ease out stress on lengthy transactions.

TON Labs, a software startup, is allegedly developing a solidity compiler for this technology. The Labs is currently managed and run by token offering investors for Telegram. Solidity compiler is a programming language that is also used in unfolding smart contracts on Ethereum platform. This, therefore, makes the Ethereum DApps compatible with the TON blockchain technology.

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Author: Daniel W

Crypto Influencer Predicts Bitcoin Price to Be $25,000, Ethereum Back At $1,000 USD by 2020

This Wednesday, William Mouyagar, a crypto influencer and author of the famous book “The Business Blockchain: Promise, Practice, and Application of the Next Internet Technology” laid out his forecast on top coins on Blockchain.

Some of the cryptocurrencies that appeared on the influencer’s list include Ethereum, Bitcoin, Binance Coin, and Ethereum Classic among other top currencies. However, the investor left out XRP coin and left people wondering on the outcome of its price.

Recently the price of Bitcoin went below the $10,000 mark, and investors are beginning to get worried. Many still have high hopes and remain optimistic in the market. In fact, for the Bitcoin enthusiasts, this may be good news for them as Mr. Mouyagar predicts that the ‘digital gold’ will get to $25,000 when 2019 comes to a close.

Coins to Surge more than Twice the Current Price

William made predictions on several top ten coins and how some would double from the current price when the year ends. He forecasted as follows:

BTC @ $25,000

ETH @ $1,000

ATOM @ $20

ETC @ $50

BNB @ $50

EOS @ $7

DOT @ $250

KIN @ $.0001

XTZ @ $2

STX @ $1.50

STEEM @ $.50

Mouyagar anticipates that the total capital in the crypto market will be at $750 billion by end year. Many investors, however, believe that Bitcoin’s dominance in the market will drop to 55 percent from the current 67.3 percent.

William Displeases XRP fans

The huge BTC investor did not say a word on the XRP coin price. This shocked a lot of XRP enthusiasts as this is the third-largest crypto on the top list of digital coins. Significant milestones have been achieved by the XRP like working with CoinMe ATM chain.

So he was asked on why he was ignoring such an asset, and his reply was straightforward. Mouyagar said that he did not have insights on the asset and therefore, he saw it wise not to shoot in the dark.

Most of the analysts with a big following on twitter were asked on the legitimacy of the forecasts. They said that those prices were doubtful, but it is possible as cryptos are very volatile.

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Author: Daniel W

Bitcoin Mining Difficulty Is Set To Grow 60% Quarterly as BTC Miners Get Bullish

The mining difficulty of the Bitcoin (BTC) network is set to grow at least 60% in the third quarter of the year. Data from Kevin Rooke, a well-known crypto analyst, seems to indicate that the mining difficulty will have expanded a lot when the quarter is over.

Rooke affirmed that the mining difficulty has gone up around 42% per quarter since 2016, but that this time the difficulty will get even higher. According to him, the growth has been big ever since the bear market was ended. The difficulty was already at an all-time high when the last quarter ended, so it is going to reach new highs soon.

In case you are not familiar with how the difficulty of mining is handled, you should know that it goes up when more people are mining and down when miners decide to stop mining. This is done in order that a single BTC block is mined around 10 minutes. The difficulty is adjusted every two weeks.

These recent changes seem to indicate that Bitcoin metrics are getting stronger than they ever were, which can be considered a great sign for the network. The difficulty is just one of the fundamentals that affect how well the network is faring, but most indicators seem to be going along fine.

The hash rate, for instance, is also reaching all time=highs and the prices may not be going up, as the $10,000 USD price range seems to be a strong barrier, but they are certainly holding up pretty well. This puts miners on bullish mode as they believe that prices will go up a lot in the next few months.

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Author: Gabriel Machado

Bakkt Legitimizes Bitcoin, Brings Trust to The Number One Cryptocurrency It Always Needed

The crypto platform of the International Continent Exchange (ICE), Bakkt, is set to go live on September 23. Because of this, several traders are already theorizing about the effects that this can have on the Bitcoin market.

Tom Lee, the prominent analyst of Fundstrat Global Advisors, has recently affirmed that Bakkt could have a very significant impact in the industry. According to him, it will be the first platform to offer physical BTC futures and will raise the trust in the market.

He also believes that the launch could impact prices in the short-term. BTC has just dropped below $10,000 USD and then went up again. Now, it is recovering slowly. With Bakkt, however, a bullish move could happen and this would raise prices.

Several institutional investors have still not entered the market and the Bitcoin exchange-traded fund (ETF) is still far from a reality, so Bitcoin is really in need of some legitimacy right now. For years, its stigma of being related to illegal activities has harmed its potential, but Bakkt may change that.

The U. S. Securities and Exchange Commission (SEC) chairman Jay Clayton has recently spoken about how Bitcoin is still in its infancy and the ETF will only be approved when the market is more trusted and regulated.

Not only Bakkt is fully regulated and created to cater to institutional investors, but it is backed by companies such as ICE, Starbucks and Microsoft. This will certainly be a huge step forward for Bitcoin.

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Author: Hank Klinger

Singaporean Bank OCBC Gets Onboard with JPMorgan’s Quorum-Based Blockchain Network

OCBC, one of the largest banking institutions in Singapore, has recently joined the JPMorgan Chase’s blockchain network, according to reports from local media outlets. Right now, there are 134 banks from the Asia-Pacific as part of the Interbank Information Network. OCBC is considered to be the second-largest bank in Southeast Asia, meaning that this was an important partnership.

This network was started last year and it has reached a fair level of success so far, as over 300 banks have joined it. Japan is the country that has more banks, with 80 banking institutions.

The Interbank Information Network was created by JPMorgan as a pilot project back in 2017. The goal was to create a platform that would connect banks to make global payments using the blockchain.

By using the Ethereum technology, JPMorgan created its own Quorum permissioned ledger, which is the basis for the IIN. The company’s global head of clearing John Hunter has recently affirmed that the project was started with the goal of connecting banks and addressing issues that are common in cross-border transfers.

In related news, Deutsche Bank, the largest bank in Germany, has also joined the IIN recently. Other important institutions are bound to enter the platform soon, too, as JPMorgan believes that it may reach a total of 400 bank partners by the end of 2019.

The Interbank Information Network is not the only blockchain project created by JPMorgan. The company was also involved in the creation of JPMCoin, a stablecoin that was called a cryptocurrency by many people (but is actually not).

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Author: Gabriel Machado