Poloniex Will Delist Over 20 Individual Trading Pairs Due to Low Volume and Demand

The crypto exchange Poloniex, which is owned by Circle and based in San Francisco, is about to remove the total of 23 trading pairs from its list of assets. The reason for the change is that the crypto exchange has deemed that these trading pairs have a very low volume, so it is not worth to keep them around.

Curiously, none of the trading pairs is paired against Bitcoin. They are all traded against Monero (XMR), Ethereum (ETH), Tether (USDT) and only one with USD Coin (USDC). You can check the complete list of assets here.

Not The First Time Assets Are Delisted

This is not the first time that the Circle-owned exchange decides to delist assets. The last time this happened, on May 29, several assets have been completely removed from the platform, not only trading pairs. The assets were Bytecoin (BCN), GameCredits (GAME), Lisk (LSK), Augur (REP), Ardor (ARDR), Decred (DCR), Gas (GAS), Omni Layer (OMNI) and Nxt (NXT).

You may have heard of these assets. The main reason for delisting was not really low volume but regulatory uncertainty. The company is U. S.-based and most of the assets were created via Initial Coin Offerings (ICOs), which are not fully legal in the country. This meant that even somewhat famous tokens such as Augur ended up being kicked from the platform.

In related news, Coinbase Pro has also started to limit some assets this month. XTZ/BTC and XTZ/USD are set to enter transfer-only mode soon, even in the supported regions of these assets. At the moment, however, no orders can be placed on the order books of the platform.

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Author: Gabriel Machado

DataTrek Market Researcher: Bitcoin Can Be A Turmoil Indicator in Geopolitical Affairs

New studies about Bitcoin are uncovering some very interesting truths behind the most famous cryptocurrency of the world. For instance, a new study made by DataTrek Research appoints that Bitcoin can be used as a way to determine geopolitical turmoil.

Nicholas Colas, the co-founder of the company, has recently spoken to CNBC and affirmed that Bitcoin could be used in order to find indications of political unrest. He used the local price rise of the token in Hong Kong as an example of that.

According to him, the price of the asset could be used to predict that Hong Kong would suffer a capital flight during the political tensions which are happening there right now.

He also affirmed that Bitcoin can definitely be seen as a safe haven asset right now. Crypto investors affirmed this for a long time, but this is becoming each time more undeniable right now. According to Colas, BTC was one of the few stable assets during the turmoil because it was not linked to the country in any way.

Peter Tchir, a Forbes contributor, was also responsible for affirming recently that Bitcoin was a major indicator of financial turmoil and political crisis.

However, it should be noted that BTC is still a very volatile asset and that betting everything on it might not be the most secure idea during troubled times. There are no guarantees that the prices will not go down again before they go up.

Because of this, investing everything in BTC is a much more sensible decision in complete chaotic situations such as Venezuela and not so much in situations in which there is a small risk. In this case, a more diversified portfolio can be considered more secure.

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Author: Bitcoin Exchange Guide News Team

Patientory (PTOY), The Crypto Worth Less Than A Cent, Can Be Very Profitable In The Future

Many cryptos are all about a promise. Patientory is one of them. The crypto, which was created for a health app, is worth only a cent per PTOY token, but some of its executives believe that the project may be worth millions in the day.

Chrissa McFarlane, the CEO of the company, was recently interviewed by the crypto media outlet Coindesk. According to her, at the moment people are using the token only for small experiments, but she defended that the project may be worth millions in the future.

One of the main goals is to have data from healthcare providers in order to create a big network that will provide all range of health services for users.

At the moment, the project lacks clients, but it has a growing community with several contributors. The project is basically gearing up for a profitable future, its CEO affirms. According to her, the standards for interoperability of the company are getting better and, with time and testing, the network will finally be prepared to empower patients and to finally be profitable.

So far, Patientory was only able to get $12.4 million USD. Most of the money came from the Initial Coin Offering, which was held two years ago, but some came from venture capital later on. Most of the money has been used in the development of the platform and in related events aimed to bring awareness to the project.

Unfortunately, the future of this project is far from certain. While the management is sure that the product is innovative and will bring millions in profit, the truth is that most startups end up dying after a few years.

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Author: Daniel W

SEC Delays The Decision Again For 3 Bitcoin ETFs (Bitwise, VanEck/SolidX and Wilshire Phoenix)

The U. S. Securities and Exchange Commission (SEC) has decided for the delay on the decision about three different Bitcoin exchange-traded funds (ETFs). These were the most recent ETFs, the ones filed by VanEck and SolidX, Bitwise Asset Management and Willshire Phoenix. If approved, they would be launched at CBOE BZX and NYSE Arca.

As the official time for a decision, 240 days, was about to be reached, the decision of the SEC was very unsurprising: they simply decided not to make the decision right now.

According to the SEC rules, the entity will have until October 13 and 18 to decide for the Solid X and Bitwise ETFs and until September 29 for Wilshire’s ETF.

Bitcoin ETFs Are Very Hard To Approve

Unfortunately, it is simply extremely hard to approve an ETF right now. The SEC is very concerned about market manipulation in the crypto market, so it is very unlikely to approve any of it while the issues are not properly addressed.

As the SEC sees the crypto market as still very unregulated and prominent to manipulation, the entity has several concerns about what an ETF might mean. A lot of BTC trading is said to be wash trading and several whales (wealthy investors) have the means to move the market the way they want to.

Because of all these issues, it is considerably hard to believe that the ETF will be out anytime this year, as none of the three companies have provided any guarantee that the market will not suffer from manipulation.

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Author: Bitcoin Exchange Guide News Team

Nearly 15 Governments to Cooperate in Creating a Worldwide Crypto Monitoring System To Fight Money Laundering

Governments of about 15 countries seek to establish a new system of cooperation that would enable them to collect and share with each other personal information on people who transact in cryptocurrencies, Nikkei Asian Review reports.

Among the countries that will develop the new system include the Group of 7 (G7) members, Australia and Singapore. The system is to be designed by the Financial Action Task Force (FATF), an international organization that consists of 37 member jurisdictions and 2 regional organizations.

According to the report, the plan is for the detailed measures to be drawn up by 2020, and a few years later, the system should be in operation, which would then be managed by the private sector.

The goal of this effort is to prevent the laundering of money, which is then used for a host of illegal purposes, including funding terrorist organizations.

Given that many countries do not have a regulatory framework for crypto, and that a number of them are working on establishing clear rules for cryptocurrencies, it is generally very difficult to establish a global set of rules or a system by which most, if not all, countries will be guided, but this effort might bring all of them closer and faster to their legal goals.

In June, the FATF agreed to implement their previous recommendations that would force governments to tighten oversight of the crypto business.

In other related news, just recently the Financial Conduct Authority (FCA), a financial regulatory body in the United Kingdom, issued the Final Guidance on crypto assets, while the G7 attendees at a summit of ministers and central bankers expressed concern about Facebook’s Libra and crypto-related matters and promised action.

The crypto industry has witnessed numerous regulatory announcements in the recent past, especially after the announcement of Facebook’s Libra project and the crypto enthusiasts can expect a lot more to come.

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Author: Joseph Kibe

ShapeShift Addresses Recent Vulnerability on KeepKey Wallet

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ShapeShift, a crypto hardware wallet company has recently talked about the vulnerabilities that were found on its KeepKey wallets. According to the company, someone recently submitted a report that a vulnerability was found in the system.

This issue could be used to read the screen of the wallet and to do a side-channel attack. Basically, people could use it in order to discover sensitive information by looking at the screen remotely.

However, in order to be able to use this vulnerability, the hacker would need to engage in a very complex process. For instance, in order to see the information on the screen, the energy consumption of the victim’s device would need to be monitored with an oscillometer.

This would require considerable physical access, so there are ways that are much more easy to get information. What does this mean? The vulnerability does exist, but it is highly impractical.

It would be simply easier to use other strategies such as simply looking at the screen, as you have to be in near physical space to exploit this vulnerability.

According to ShapeShift, it would be highly difficult to successfully interpret the data even in the case that the device was actually hacked via this complicated process. Because of this, the company claimed that it was unlikely that people would use this method to steal money or information.

Also, many recovery phrases are shown at the same time on the screen, so it is hard to tell which words are the right ones using this new method.

[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: Gabriel Machado

University College London Research: Almost Half of All Blockchain Supply Chains Are in Groceries

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Something very curious about the blockchain technology is that when it was first created, nobody could guess how useful it would be for the groceries market. That’s right. Everybody was focused on the financial side, but most people didn’t pay enough attention to how useful the blockchain can be to track food.

Today, almost half of the supply chain projects focused on blockchain technology are for groceries, a new survey made by University College London has discovered.

In order to get to this result, the researchers investigated 105 projects. 52% of them, almost half, were focused on groceries while 17 were focused on fashion and 14 on healthcare. The other 41 projects were more diversified.

The ones that operate in other areas were mostly projects which were more related to actual functional specializations than industries or could be used in several different industries at the same time, which made it clear just how important using the blockchain to tracking food can be.

One of the main reason for the dominance of this specific industry is that clients are increasingly interested in having more information about the products that they are about to buy. Groceries that can prove that they are healthy are starting to get an edge in the market.

Several major companies are already using the technology for the benefit of their clients. Walmart and Carrefour are some of the big retail names using it so far and companies such as IBM are offering solutions in this area. Groceries is set to be one of the areas that will use the blockchain the most in the coming years.

[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: Hank Klinger

Agecroft Consultancy CEO: Bitcoin Has A Fantastic Technology And Hedge Funds Will Go For It

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Don Steinbrugge, the CEO of Agecroft Partners, has recently spoken about Bitcoin. According to him, BTC has a fantastic tech and it can be used in several creative ways. For instance, you can use BTC in order to hedge against inflation.

He recently spoke to CNBC and affirmed that he is amazed about how people are using BTC in order to bet against the economy during the current trade war with China. Most people believe that the U. S. will face an economic crisis soon, so they are betting on BTC.

So far, it has been a winning bet. There is so much economic uncertainty that investors are buying BTC and prices are going up quite fast.

The investor has also affirmed that Bitcoin is here to stay and that the technology can be used in order to retain value when the economy is going down. There is no better example of that than Venezuela. The country is facing major inflation and BTC is a way to store the value of assets in a safe way because, even with its volatility, it is safer than a market in crisis.

While hedge funds had a very troubled 2018 when it came to crypto, most of them are getting huge returns this year. BTC is back and this is the perfect time to use it in order to get as much money as possible. Traditional markets will be affected by the trade war, so a lot of money will be injected in the market, which is considered a safe haven by many investors.

[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: Daniel W

British Tax Division Resorts to Gathering Intel From Crypto Exchanges To Find Tax Evaders

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The tax authority of the United Kingdom, HM Revenue & Customs, has recently revealed that it is about to take data from exchanges in order to get unpaid taxes. Three major exchanges, CEX.IO, Coinbase, and eToro, received letters last week that demanded them to give information about their customers to the government.

According to reports, the government is looking at people who got hefty profits from the trading of cryptocurrencies in order to determine whether they paid their taxes or not. At the moment, however, people don’t know how far back the tax authority wants to go.

Information about the last two or three years can be considerably easy to find. However, information that goes back to the beginning of the decade might be unavailable today. This means that the largest token holders will not really be affected because they got hefty profits buying between 2012 and 2013 and most companies do not have accurate data for that time.

UK Is Following US In Collecting Crypto Taxes

This move from the U. K. tax authority is actually pretty similar to the move made by the U. S. Internal Revenue Service (IRS). The IRS is also chasing exchanges in order to determine whether the clients are actually paying their dues or not.

As crypto exchanges are generally required by law to gather information about their clients, they can provide a full database for the government.

Incomplete information, however, can become an obstacle. In the recent past, Coinbase has several users named as “John Doe” who used fake data in order to cloak their identities. More recently, however, exchanges are becoming more diligent in the Know Your Customer process.

[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: Nirmala Velupillai

Ripple’s Open To Being Compliant To Regulators; XRP Is Technically Bullish But Why Are Prices Tepid?

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Today’s Ripple (XRP) News

A lot has been said about cryptocurrencies, their future and what’s not. Well, the fact is, blockchain as a technology is here to stay. Unfortunately for no-coiners and bashers, the sector will only flourish with time as an ingredient.

On the other plane, cryptocurrencies, including Ripple (XRP), would most likely be better regulated and exchanges’ propensity to manipulate prices tamed. It may take years, but overly, there is a high probability that it will happen. It’s only a matter of when.

To that end, a few hours before the Senate Banking Committee hearing, discussing the way to better regulate cryptocurrencies and other blockchain applications, Brad Garlinghouse and the Chairman of the blockchain payment firm, wrote a letter appealing to Congress not to paint the industry in what they termed as a “broad brush.”

After public criticism from Donald Trump and later the Secretary of Treasury, Steven Mnuchin, the community even speculated that the world’s largest economy may be on their path of banning cryptocurrencies and crushing innovation.

Well, even if they would, they can’t because of the decentralized nature of these use cases. That’s what Crapo, the chairman of the Senate Banking Committee said. It’s a reality that they had to face, and besides, blanket ban of cryptocurrencies is but an illegality. Expression, speech or technology wise, is under the protection of the First Amendment, analysts and lawyers assert.

Encouragingly, Ripple (XRP) as startup, is not really against any law/guidance. In their open letter, they admitted that the government is “well suited for their job,” and through their efforts there is trust, leading to the acceptability of any currency. Ripple, Brad Garlinghouse the CEO insists, is compliant and ready to work with regulators.

XRP/USD Price Analysis

Ripple XRP

Presently, XRP is steady, trending horizontally with caps at 34 cents. Technically bullish in the sense that the coin is largely consolidating inside the leading bull bar of Sep 2018, buyers have a chance from an effort versus result point of view.

Therefore, while bears may be pressing lower, preventing bulls from rising from these pits, every low should, nonetheless, be a buying opportunity for enterprising, risk-off traders. To that end, a fitting stop will be just below 30 cents with immediate target at 34 cents.

However, if buyers step up and the breaching bar, closing above 34 cents has high trading volumes exceeding 40 million of July 15, then XRP prices would easily float to 40 cents, and higher in days ahead.

Further, there would be more upsides for XRP if the same momentum drive prices above 40 cents with high volumes surpassing 50 million of July 10. In that eventuality, XRP may easily rally to 50 cents in a revitalizing move that would catalyze demand as buyers aim for the ultimate 80 cents, the high of Sep 2018.


Disclaimer: Views and opinions expressed are those of the author and is not investment advice. Trading of any form involves risk. Do your due diligence.

All of Today’s Ripple (XRP) Price Analysis, Chart Forecasts and Industry News

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Author: Dalmas N