Diar Report Shows How China’s Stablecoin Trading Behavior Affects the Bitcoin and Crypto Markets

Diar-Report-Shows-How-China-Stablecoin-Trading-Behavior-Affects-the-Bitcoin-and-Crypto-Markets
  • Diar shows Chinese investors are demanding and trading with Tether
  • Bitwise data about exchanges could be far from the real numbers

In a recent report released by Diar, the company explains that on-chain data shows that Tether (USDT) volumes are reaching a new all-time high for the second quarter of this year. One of the most shocking things is the fact that trading volumes in China are much larger than trading volumes in Western countries.

Tether Volume Grows In China

Several cryptocurrency exchanges have been accused of having large amounts of the fake trading volume. This is something that is harming the crypto community and market as well. For example, the U.S. Securities and Exchange Commission (SEC) decided not to approve a Bitcoin exchange-traded fund (ETF) because it believes that the market is currently being manipulated by larger investors.

According to data released by Chainalysis, the demand for Tether in China reached $16 billion in 2018. However, this year seems to be even better than the last one. Since January 2019, the number of USDT received by Chinese exchanges surpassed $10 billion. That means that we could be heading towards the best year ever.

Diar shows that Chinese exchanges accounted for 39% of all on-chain transactions value for Tether. This year, things are getting even more interesting. The country is currently responsible for 60% of all on-chain transactions. Moreover, there are other exchanges such as Binance and Bitfinex that currently have 31% of the total Tether volume compared to the 47% share they had last year.

Meanwhile, in the United States, things are getting worse. The demand for stablecoin dropped from 44% in 2017 to less than 10% in 2018.

Diar explains that on-chain transactional volume in 2019 has gone up with the reported trading volumes in the market. The increased demand for Tether in China is related to the fact that there are investors that want to trade with these funds.

“Even a single rade of Tethers moved onto Chinese exchanges would equal daily volumes equivalent to $215 million for the month of April, which is three times as much as Coinbase and on par with Binance,” Diar wrote.

The report concludes that the report released by Bitwise, an asset management company that informed that 95% of crypto trading volume is fake, is likely to be far off the mark.

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Author: Carl T

Bloomberg Terminal Will Include Cadence, an Ethereum Blockchain-based Debt Instrument

Bloomberg-Terminal-Plans-to-List-Cadence-Debt-Instrument
  • Blockchain-based Cadence becomes recipient of FIGI.
  • Cadence will be available through a new listing with Bloomberg terminal.

The Cadence platform allows consumers to convert their commercial debt into ERC-20 tokens. The platform has recently made headlines is for becoming the first blockchain-based financial instrument to obtain a Financial Instrument Global Identifier (FIGI). By having a FIGI, Cadence now becomes easier to research and can be traded, which is exactly why Bloomberg Terminal plans to list it.

With FIGI records, all of the metadata is included, like maturity schedule, instrument type, and interest rate. Since Cadence is connected with blockchain and ERC-20 tokens, their FIGI features a smart contract address on Ethereum as well.

Cadence is directly involved with debt businesses that need to create a seamless flow in cash, rather than succumbing to short-term gaps. Nelson Chu, the founder of Cadence, believes that the reliance on Excel spreadsheets and phone calls has created an opaque approach. Speaking with CoinDesk, Chu notes that the whole is to develop “an immutable ledger that houses all asset-level performance data,” covering

“inception through maturity.”

Chu added, “This creates an oracle of asset performance data that every counterparty in a private credit transaction can reference to accurately price, structure and invest.” At this point, there are eight issuances through the firm, utilizing one-month, three-month, and nine-month maturities. They also offer automatic rollovers, and all of these issuances can be seen on the terminal.

The lead of data standards with Bloomberg, Richard Robinson, said that using an FIGI with cryptocurrency assets shows a “natural and simple example of the standard’s native utility.” He further states that the fact that an FIGI can be obtained by a blockchain-based instrument shows that it is capable of being adapted to “esoteric” and “new” use cases.

FIGIs were preceded by the creation of the Bloomberg Global Identifier (BBGID), but the innovation was open sourced by 2014 when it was welcomed by the consortium on industry standards for computers. Even though Cadence is still in its infancy, it will allow users to get $500 and higher investments with short-term commercial debt instruments. It has only been available in private beta since the start of the year.

On the terminal, users will see a ticker symbol CDGRP for the Cadence issuances, which will also be logged on the Ethereum blockchain. Chu commented that this innovation makes it possible to develop

“a level of transparency and efficiency that has simply never been possible before.”

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Author: Krystle M

New XMRig Cryptojacking Malware Found by Trend Micro Is Attacking Devices Around the World

Cryptojacking-Malware-Found-by-Trend-Micro-Is-Attacking-Devices-in-Thailand-and-the-US
  • Trend Micro found malware that uses current vulnerabilities in web pages and other sources.
  • At-risk individuals can update their device’s software with the most current verified patches to be protected.

The cryptocurrency investors of the world are probably pretty happy to see the Coinhive crypto mining script offline, but that doesn’t mean that cryptojacking is over. In fact, recent research by Trend Micro indicates that there’s a new collection of malware that is going after users’ hardware, in an effort to mine cryptocurrency.

According to reports from The Next Web’s Hard Fork, Trend Micro states that the malware is deployed on many web servers while applying brute-force attacks. As the user’s hardware encounters the malware, it downloads Monero cryptocurrency miner XMRig. The most active malware in May was BlackSquid, and the majority of its attacks appeared to be in Thailand and the United States. “BlackSquid” is the name that Trend Micro has given the malware family.

Right now, as far as Trend Micro can tell, there are eight exploits used by BlackSquid, including EternalBlue, DoublePulsar, three security flaws in servers (CVE-2014-6287, CVE-2017-12615, CVE-2017-8464), and three vulnerabilities in web applications (ThinkPHP). However, Hark Fork warns that these exploits are hardly the most worrisome details of the malware.

The BlackSquid family of malware still has a lot of hidden tactics, like anti-virtualization, anti-debugging, and anti-sandboxing. All of these protocols happen before installation starts, which basically means that it will only download to the user’s hardware if it has determined that the malware will be undetected. As one computer on the network is infected, the malware goes after connected systems to make the attack more widespread.

The attacks themselves come through webpages that are already infected, web servers that the malware has compromised, or infected removable hardware. In the event that the malware is successfully undetected, it installs their variation of the XMRig, and it also looks for a video card to help with mining. Essentially, the attack goes after absolutely everything it can to improve the attacker’s likelihood of getting a return.

Even though there is a chance of major damage for an infected system, it is going after exploits and vulnerabilities that are already known. Protecting against the attack is relatively simple since the vulnerabilities have already been patched. Make sure that any network connected has the most updated version of its own software, and that all of the current patches from verified sources have already been installed.

Researchers believe the malware to be still in the testing stage, and that there are multiple features that may still need to be trialed. That being said, this may not be the last time that BlackSquid arises in the industry as a worrisome malware.

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Author: Krystle M

Apple to Introduce New CryptoKit Tool for Blockchain Developers at WWDC Event

Apple-To-Introduce-New-Tool-for-Crypto-Developers

According to a recently released event program, tech major Apple is planning to bring out a new tool meant for crypto developers at this year’s edition of Worldwide Developers Conference. The program for 5th June 2019 includes a session titled “Cryptography and your Apps”, which will witness the unveiling of a new tool called the “CryptoKit”. It will soon be introduced as an update on iOS 13.

CryptoKit will primarily be meant for crypto developers, allowing them room to experiment with tools and add more robust security features to crypto apps under development.

To quote the event description provided in the program:

“System frameworks encrypt both data at rest and data in transit in a transparent way for you. This functionality is available by simply setting an attribute. However you may want to do more to protect your users’ data.”

To enable such expansive functionalities, developers can use the new Swift framework, CryptoKit. They can use it to perform cryptographic operations simply and securely, regardless of whether they need to do something simple like compute a single hash or wish to run a more sophisticated protocol.

The ongoing edition of the Worldwide Developers Conference comes in the wake of people’s increasing scrutiny of Apple’s crypto strategy and it seems that the giant is finally warming up to the pros of digital assets industry. Crypto insiders were particularly enthused about Apple’s inclusion of the Bitcoin (BTC) logo in its in-app San Francisco font earlier and the latest development comes as a welcome move from one of the frontrunners of the tech world. Last month, Apple also introduced the option to make crypto payments over Apple Pay last month, further cementing its newly acquired place in the crypto world.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Bitcoin Exchange Guide News Team

DECRED Price Prediction Today: Daily (DCR) Value Forecast – June 4

Decred Outlines Decentralized Exchange Plans
  • The short and medium-term outlook is in a downtrend.
  • Selling at key areas may be considered.

DCR/USD Medium-term Trend: Bearish

Supply zone: $30.00, $35.00, $40.00
Demand zone: $15.00, $10.00, $5.00

DCRUSD is in a bearish trend in the medium-term outlook. The break of the two EMAs by the bearish candle shortly after yesterday opening at $28.53 was a confirmation of the bears’ takeover of the market.

The cryptocurrency dropped to $27.16 in the demand area before bearish flag formation that led to a further drop to $26.30 before the end of the session.

The bears continued to push price further downward as today session opened on a bearish note at $26.72. Increased pressure led to a further drop to $25.29 created the second flag and the bears returned for another drop to $24.69 in the demand area.

The third bearish flag is currently unfolding which may also return the bears for another drop to the south with $23.00 as the initial target in the medium-term.

DCR/USD Short-term Trend: Bearish

The journey down south by the bears began as the market opens yesterday 3rd June with a bearish candle at $29.15. The cryptocurrency fell to $27.13 as the low of the day before the end of the session.

Todays saw session was dominated by the bears with a large bearish candle at $27.88. DCRUSD was down initially at $25.29 and created a flag. Increased bearish pressure led to the break from the flag and price dropped $24.69 in the demand area.

Currently, a flag is been created which was necessary for the market correction and to confirm the downtrend continuation.

Please add a valid coin_id. You can get it from coin page’s url (slug or short name).

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez M

Nano Price Prediction Today: Daily (NANO) Value Forecast – June 4

Nano Trading
  • On May 30, the bulls attempted to break the $2.0 overhead resistance but were repelled at the $1.90 resistance level.
  • The downward correction was completed as the crypto’s price fell to its low at $1.472 price level. This was the previous low of May 09.

NANO/USD Medium-term Trend: Ranging

  • Resistance Levels: $1.50, $1.60 $1.70
  • Support levels: $1.40, $1.30, $1.20

Yesterday, June 3, the price of NANO was in a bearish trend. On May 15, the price of NANO had an overhead resistance at a high of $2.0 price level. On May 16, the crypto’s price was resisted. The NANO market fell and had a downward correction to a low at $1.68. The crypto’s price was fluctuating below and above the 12-day EMA and the 26-day EMA which are sloping horizontally. On May 30, the bulls attempted to break the $2.0 overhead resistance but were repelled at the $1.90 resistance level.

The price made a downward correction to the EMAs. On June 2, the bulls were resisted in the bullish trend zone at the $1.80 price level. The downward correction was completed as the crypto’s price fell to its low at $1.472 price level. This was the previous low of May 09. Meanwhile, NANO price was in the oversold region of the daily stochastic but below the 20% range. This indicates that price is a bearish momentum and a sell signal.

NANO/USD Short-term Trend: Bearish

On the 1-hour chart, the NANO price was in a bearish trend. The crypto’s price was in smooth downtrend. The 12-day EMA and the 26-day EMA are trending in a sloping position. The crypto’s price was below the EMAs which was the reason for the price fall.
Meanwhile, NANO price was in the oversold region of the daily stochastic but below the 20% range. This indicates that price is a bearish momentum and a sell signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez M

ANGUR Price Prediction Today: Daily (REP) Value Forecast – June 4

Augur (REP) Decentralized Prediction Markets Will Be Extremely Difficult to Stop from Existing
  • The short and medium-term outlook is in a bearish trend.
  • More sellers may take a position in the medium-term.

REP/USD Medium-term Trend: Bearish

Supply zone: $20.00, $22.00, $24.00
Demand zone: $10.00, $9.8.0, $9.60

AUGUR is in a bearish trend in the medium-term outlook. $18.40 in the demand area was yesterday low as the bears’ pressure on the cryptocurrency before the end of the session.

Today’s 4-hour opening candle at $18.40 was a bearish marubozu suggesting bears full market domination. REPUSD dropped initially to $17.51 and later to $16.88 in the demand area after a brief flag formation.

A minor flag may be formed before the bears continued the journey down south.

With price below the two EMAs that area fanned apart and the signal of the stochastic oscillator pointing down at 11% in the oversold region, it suggests downward movement in price due to bearish momentum.

REP/USD Short-term Trend: Bearish

Today’s 1-hour opening candle at $19.21 was large and bearish. REPUSD dropped to $17.76 and created a descending channel which was a signal for the bearish continuation. A large bearish candle at $17.86 broke out of the channel with a further drop to $16.88 in the demand area.

A minor correction is necessary to confirm the bearish continuation. $15.00 is the bears’ initial target in the short term as more candles opened and closed below the two EMAs.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez M

Justin Sun of Tron Talks to LongHash in Interview About Crypto’s Slower-Paced Adoption Rate

Justin Sun of Tron Talks to LongHash in Interview About Crypto's Slower-Paced Adoption Rate

Theories regarding electricity were already published by the 1600s. However, electricity was not in people’s homes until the late 1800s. Even today, there are millions of homesteads without electricity.

Similarly, cryptocurrency is a new invention and it will take some time before the public accepts this new form of currency. However, there has been steady progress over the past few years especially considering cryptocurrency came to the fore in 2009.

Since its inception, digital currency has caused a lot of fluctuations in the virtual asset economy while sparking some of the biggest debates of our time. A significant portion of people around the globe sees cryptocurrency as a more efficient means of managing their finances and making transactions or withdrawals in the digital era.

Others see cryptocurrency as a financial system setting itself up to replace paper money, but with too many risks thus hindering its widespread adoption.

What do the experts think?

In a recent interview by Longhash, Tron CEO Justin Sun claimed a proper lack of understanding when it came to cryptocurrency was the biggest cause of stagnated adoption. The interview was conducted on some of the most influential proponents in the crypto world who cited various barriers affecting the adoption of cryptocurrency.

Justin also stated that user experience as a way of attracting more people to the crypto industry was not good enough.

As opposed to recommendations from friends and reading other people’s reviews, the CEO encouraged budding potential crypto users to understand the digital currency from a fundamental perspective.

As such, they will know the benefits and cons of using cryptocurrency as well as its impact on the financial system in the future. Such information is vital seeing we are living in the digital age and automation is no longer a pipedream.

More people are learning

Tony Vays, a reputable crypto-analyst claimed the barriers that had been formed around digital currency earlier on are weakening as more people get a deeper understanding of Bitcoin (BTC).

BTC was one of the first cryptocurrencies to emerge and is a leader in the industry to date. According to Tone, the biggest barrier at the moment is misinformation. He claims the Bitcoin’s usability and wallets will get better over time.

The crypto-analysts also backs BTC to improve its interface and security as more people join the crypto world. Erik Voorhees, the CEO of ShapeShift added regulatory challenges as one of the biggest barriers when it comes to crypto adoption. According to Erik, financial institutions are still hesitant in the adoption of cryptocurrency due to the uncertainty surrounding it and its effect on the market.

Another industry leader Tyler Spalding, the CEO of Flexa also cited functionality and price speculation as a major hindrance to the global adoption of cryptocurrency. The CEO urges crypto creators to make the digital currency available to regular people and show its use in their daily lives.

Conclusion

Crypto adoption is a slow process but more people are realizing its importance by the day. Some outlets around the world are now taking payments in crypto coins while others are preparing to take the step.

If the issues discussed above are taken into consideration and properly handled, the stagnation witnessed currently in the adoption of digital currency will cease to exist.

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Author: Bitcoin Exchange Guide News Team

Skycoin Price Prediction Today: Daily (SKY) Value Forecast – June 4

Skycoin
  • Nevertheless, if the bearish trend is continuing, the price is likely to reach the 0.786 Fib. retracement level.
  • From the Fibonacci retracement levels, the price of SKY has broken the 0.236 and 0.382 Fib. retracement levels. These are continuation zone where the bullish trend can make an upwardmove.

SKY/USD Medium-term Trend: Bearish

  • Resistance Levels: $1.8, $2.0 $2.2
  • Support levels: $1.6, $1.4, $1.4

Yesterday, June 3, the price of Skycoin was in a bullish trend. The crypto’s price was making a series of higher highs and higher lows. On May 31, the crypto’s price rose to a high of $2.30 price level and was resisted. The market is on downward correction as at the time of writing, The bears have broken the 12-day EMA and the 26-day EMA to reach the bearish trend zone.

The crypto’s price is below the EMAs which indicates that price is likely to fall. From the Fibonacci retracement levels, the price of SKY has broken the 0.236 and 0.382 Fib. retracement levels. These are continuation zones where the bullish trend can make an upward move. The SKY price has also broken the 0.50 and 0.786 Fib. retracement levels.

These are zones where the current trend is assumed to have ben reversed. Nevertheless, if the bearish trend is continuing, the price is likely to reach the 0.786 Fib. retracement level. in other words, the price will reach another low at $1.40 price level. Meanwhile, the crypto’s price is in the overbought region of the daily stochastic but below 60% range. This implies that the crypto’s price is in a bearish momentum and a sell signal.

SKY/USD Short-term Trend: Bearish

On the 1-hour chart, the SKY price was in a bearish trend. The crypto’s price is in a smooth downtrend. The 12-day EMA and the 26-day EMA are  trending southward. The crypto’s price fell to a low at $1.63 which was the previous low of May 24. Meanwhile, the SKY price is in the oversold region of the daily stochastic but 40% range which implies that price is in a bearish momentum and a sell signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez M

Blockchain Firm AlphaPoint Reveals Telyatnikov as New CEO in Company Reshuffle

Blockchain Firm AlphaPoint Reveals Telyatnikov as New CEO in Company Reshuffle

Global asset tokenization software and digital trading technology company AlphaPoint has appointed President Igor Telyatnikov as its new Chief Executive Officer (CEO) after former CEO Salil Donde stepped down from the post.

Igor, being a founding member of AlphaPoint, has held various key positions over the years while contributing immensely towards the growth and expansion of the company. Notably, Telyatnikov is known for overseeing the revenue growth, business strategy, and customer success of AlphaPoint.

AlphaPoint is a prominent tech company which is known for creating key technological solutions for individuals and financial institutions around the world. The platform also provides opportunities for its clients due to its wide customer base and significant market stakeholders.

The company also revealed Joe Ventura, the previous Chief Technology Officer (CTO), as the new Chief Information Officer (CIO), while Kapil Rathi, the previous Global Head of Trading, will take the post of the Chief Operating Officer as it restructures its management and executive team. In addition, Former CEO Salil Dondeis expected to be a strategic advisor to the company

Experience; A Major Advantage for Telyatnikov

Before joining AlphaPoint in 2014, Telyatnikov had previously worked at online advertisement platform LiftDNA and investment firm Cvelto, where he served as managing director. Telyatnikov expressed his happiness and joy while speaking in an official statement, he was quoted saying:

“I am honored to take on the role of Chief Executive Officer. This is an incredibly exciting time for AlphaPoint given the growth we’ve experienced this past year.”

Telyatnikov will be tasked with the mission of ensuring that the real estate ecosystem continues to increase its access to liquidity and capital by ‘digitizing’ assets with the aid of blockchain technology.

“We continue to execute on our commitment to product innovation, leading-edge technology and world-class service for our customers. We have an outstanding team in place who delivers on this commitment each day and I’m excited about all we can accomplish going forward,” he noted.

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Author: Damola