Weekend factor? Altcoins looking to shine as Bitcoin (BTC) price stagnates around $10,000 USD

The weekend (Sat/Sun not the musician) always brings out the best in the crypto world –whether in volume, price, interactions or news flashes. As other markets close on Friday evening, the cryptocurrency markets keep running every second, minute, day and month.

Since the year began, weekends have had a rather significant impact in the growth of Bitcoin price from $3,500 at the start of the year to $10,100 USD as at time of writing. However, in the past few months, alternative coins (altcoins) have performed better than the pioneer cryptocurrency as reported by Bloomberg on Friday.

The Rise of Altseason?

BTC price momentum subsided in the past month and investors seem to have switched to altcoins. A number of top altcoins have outperformed the undisputed king of cryptocurrency in the last weeks as Ethereum, Ripple, and Bitcoin Cash (BCH) all experienced massive gains in the past fortnight.

Ethereum (ETH), the second-largest crypto in market cap outperformed Bitcoin in six of the past 10 weekdays according to daily closing prices. Furthermore, ETH’s price beat Bitcoin’s in 8 of the past 11 weekends in total daily returns showing investors increasing confidence in the largest altcoin.

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Source: Bloomberg

Ripple (XRP) has also witnessed a bullish momentum in the past week growing by 7.1% to trade at $0.28 USD as at time of writing.

Scott Freeman, co-founder and partner of JST Capital spoke to Bloomberg saying altcoins are on the verge of a breakout. As most projects gain real world use cases, investors are expected to increase their stake in the altcoin market Scott explained.

“With the realization that these technologies now are being adopted, they’re starting to solve real problems, and it’s coming to fruition at some level where the value proposition of these things is being recognized more broadly.”

– Scott Freeman

A Tough Mountain to Climb

Despite the latest heroics from altcoins in the past two weeks or so –a period that BTC’s price has remained rather stagnant oscillating around $10,000 USD – the top cryptocurrency is still way ahead of the other altcoins.

Since the start of 2019, ETH/BTC pair dropped by over 40% to trade at 21 million satoshis. XRP/BTC pair plummeted under the 3000 satoshi-mark earlier in the month, representing a 70% drop since the start of the year. XRP is currently trading at 2974 sats, as at press time, 3.3% lower in the past 24 hours.

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Author: Lujan Odera

Binance to Create Fiat-to-Crypto OTC Platform Aimed at Chinese Market

Binance, one of the largest crypto exchanges in the world, is currently considering to open up an over the counter (OTC) trading desk on its platform. The move, which was reported by Coindesk, was created to cater to the Chinese market, experts stated. It will provide a gateway for deposits of fiat and the Chinese yuan (CNY) will be accepted.

By doing this, the exchange probably has the goal of entering the lucrative Chinese market, which cannot be entered by conventional means because of local laws banning cryptos. He Yi, the CMO of Binance, has recently affirmed that several Chinese traders are now using crypto OTC desks because exchanges were banned from the country.

Binance is also set to add support for people who want to use fiat to buy cryptos in 170 different countries. This is obviously a move that the company is making to consolidate its position as one of the main companies in the crypto world right now.

Right now, Binance is set to expand its market even more. It is already the largest exchange in the world, but its reach has been limited to crypto-to-crypto trades for a long time, so this is set to change in the coming months.

The Crypto Ban In China

The so-called crypto ban happened in China back in 2017. Overnight, the government decided to ban all crypto’s and ICO’s from the country. It was in September, back when the crypto mania was getting strong.

Binance was, originally, a Chinese company, but it decided to leave the country around this time, also leaving this lucrative market behind.

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Author: Gabriel Machado

iAngels Focus on Crypto Adoption, Bringing New Investors to the Bitcoin World

Adoption is very important for the development of the crypto world. Fortunately, companies such as iAngels exist. Created by a software engineer, a former lawyer and a Wall Street trader, the company is focused on promoting the adoption of crypto and securing investments for blockchain startups at the same time that it educates traditional capitalists about this new world.

According to Mor Assia, one of the co-founders of iAngels, the idea is to build a crypto ecosystem together with the investors. Her background in engineering helps her to explain the concepts to investors.

Adaga Nameri, the lawyer who also founded the company, the company has provided a yearly return of 40% for investors so far. These are not small returns. Nameri believes that the company, which operates in Israel’s capital Tel Aviv, can work as a sort of bridge between the more traditional investors and this brand new world.

Shelly Hod Moyal, the third co-founder, affirmed that the company manages funds in over 50 countries and has investments in Telegram, Bitmain and several other crypto-related companies. The company is getting a lot of clients by using the approach of explaining to people what Bitcoin is and how it could change their lives.

To the trio, the crypto world is more than just an investment, it is a new way to see the world. She has strong roots in traditional finance as she is married to eToro’s founder Yoni Assia, but she believes in the power of the decentralized world. According to her, she is educating her children to not rely too much on traditional banking and to value decentralization.

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Author: Gabriel Machado

Binance Positions Its Project Venus Stablecoin As Government-Friendly Libra Competitor

Binance, one of the largest crypto exchanges in the world, is marketing its new stablecoin Venus as an alternative to Libra that can be really friendly to governments.

The project was revealed last month, when the CEO of Binance, Changpeng Zhao, affirmed that the company would be creating several stablecoins around the world.

Now, the company is pushing forward the narrative that its token will be just like Libra, except more government-friendly. According to Zhao, Binance does not want to dominate the market, however. The main goal is to “push adoption”, not take the whole market to itself. He even affirmed that the project might end up helping Facebook’s Libra project in the long-term scenario.

Despite all the nice words, however, it is clear that Venus wants to compete with Libra. Samuel Lim, Binance’s Chief Compliance Officer, has recently affirmed that the team is talking with central banks and regulators about the future.

Many regulators are concerned that Libra could take over national currencies, especially in countries with inflation problems. Because of this, the company is sending a message that they are not like Libra and will not take the power away from them.

Especially in developing countries, many people are worried about Libra. Some of them know that they do not have the power to block Libra if the developed countries do not do a thing about it.

Unlike Libra, which will have private parties controlling it, Venus will let the local governments determine how these tokens can work. This would give them additional protection that their competitors are not interested in giving. By catering to central banks, Binance’s Venus is cleverly carving its place in the market.

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Author: Gabriel Machado

Rumor: Coinbase and Ripple May Start Partnership at Recent Global Blockchain Event

A hot new rumor has surfaced in the crypto world after the OECD Global Blockchain Policy Forum, which happened in Paris this week. After a recent discussion in this forum, several people in the industry are commenting on a possible partnership between Ripple and Coinbase.

The Daily Hodl has reported on this story and affirms that it all started during the speech of Breanne Madigan, who works as the head of the global markets team at Ripple. She was participating on the panel about digital finances and talking about the solutions of the company.

Madigan talked about the famous solution, xRapid, and used Coinbase as an example of the kind of company that would benefit from using this technology. Her example was that someone could send money from the U. S. to Mexico easily using the system because of a recent partnership that Ripple made with MoneyGram.

The dollars would be sent via the company, which would swap them for XRP, send it to another exchange in Mexico, which would swap it into Mexican pesos. This could bring several benefits.

She also talked about how Ripple is invested in having enough liquidity to take xRapid to other payment corridors as well. This would scale the product and make it even more efficient. One part of her speech stands out:

“We’ve been strategically partnering with a number of market makers around how we establish contracts and incentives for people to want to engage.”

This means that the company is focused on these partnerships with special companies to get more liquidity and a larger market share. Coinbase, an example that was given during the speech, is a great partner for this move.

Because of this, people all over social media started to speculate. The Daily Hodl cites the XRP Research Center, a pro-XRP profile, which talks about how a partnership is very possible. Should we give some credit to this rumor? It’s hard to say for now.

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Author: Hank Klinger

Binance US Will Be Launched Wednesday, 13 States To Be Barred to Start

The most anticipated launch of the month in the crypto world, Binance US, is set to happen tomorrow, September 18. After a long wait, the exchange will start to accept registrations. Before using the services, you have to be whitelisted, so it may take some time, depending on how many people try to join the service (and we bet that it’ll be a lot of people).

A total of 13 states were barred from using the platform, unfortunately. They include Alaska, Alabama, Connecticut, Georgia, Florida, Hawaii, Louisiana, North Carolina, Idaho, Vermont, Washington, Texas and New York. It was reported, however, that the residents of these states will be allowed to use the platform eventually.

The blog post that announced the launch has also explained that all clients will have zero trading fees until November 1, 2020, and that customers will need a valid government-issued ID with photo such as social security number or passport to be users.

No assets will be automatically transferred to your account, even if you have another Binance account. Binance US will be a fully independent product. Trading can only be started after you had your profile verified and deposit funds.

Initially, users can only buy assets with ACH or wire transfers, but other options are set to be included in the following months. The company will accept USD, BTC, ETH, BCH, XRP, LTC and USDT. All assets will be insured.

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Author: Daniel W

Deloitte’s Canteen to Accept Bitcoin Purchases as the Big Four Prepares for Blockchain Operations

Deloitte LLC, one of the Big four accounting firms in the world recently joined the Blockchain and Cryptocurrency wave. The firm gave hints of its intention to accommodate blockchain in operations after it allowed employees to purchase lunch via Bitcoin.

One of the firm’s partners told the Luxembourg Times in an interview that Deloitte would allow Bitcoin lunch purchases in its canteen.

Deloitte’s Future Plans in Blockchain and Bitcoin

The Big four accounting giant was keen to note through one of the partners, Laurent Collet, that it had no intentions of accepting crypto payments in the near future.

However, Deloitte’s interest in leveraging blockchain technology for operations ranging from audit functions to fund management remains a keen topic for the firm. Bitcoin has had its fair share of challenges and criticisms over the past decade, most notably the speed of transactions.

The Satoshi coin takes an average of 8.2 minutes to confirm a transaction, this is much longer than one would expect from digital currencies. Deloitte’s staff might have to wait longer than usual if they opt to pay using BTC form their mobile wallets.

However, a number of developers in the crypto space have dedicated their efforts to solve this challenge; the Lightning network is a good example that solves the inefficiency of using BTC for micropayments.

This ecosystem is a “two layer” designed to integrate central channels that enhance the speed of BTC transactions. As a result, big players like Deloitte have given blockchain and crypto technology a chance to prove its fundamental value in today’s financial services sector.

Why Blockchain But First Bitcoin?

Deloitte has emphasized that its long term goal to have a piece of the pie in Blockchain technology and not digital assets led by BTC.

The firm’s partner, Laurent Collet, said that Deloitte would study blockchain through its resources and see where the tech fits as a solution in the Luxembourg industry. In addition, the uses of blockchain are evident in Deloitte’s functions and would speed up its processes besides removing middlemen.

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Author: Lujan Odera

Popular Crypto Payment Processor BitPay To Add Support For Ethereum (ETH) Soon

BitPay, one of the main crypto payment providers in the world now, has recently announced that it would start to support Ethereum-based payments. Ethereum (ETH) is the second-largest token by market cap, which makes this a huge upgrade in the services.

According to the press release, all companies that are already using the services will be free to use Ethereum without having to do anything.

The upgrade will be rolled out automatically as soon as it is ready. Unfortunately, no actual date for the launch was given on the press release. It will also be possible to store the new token on the company’s wallet, which is set to be upgraded to hold it.

BitPay was originally launched back in 2011 and it offered the users the option to pay with Bitcoin (BTC) and then Bitcoin Cash (BCH) after the hard fork. So far, the company’s product has been used to pay over $3 million USD since its creation.

Vitalik Buterin, the co-founder and public face of the Ethereum network, has commented on the update, affirming that it is very exciting to see such a leading company integrating ETH with its payment system. This, he believes, will open a whole new channel for innovation.

In related news, BitPay has been working to improve the security of its systems. The company has just introduced new verification methods this year and will now start to require more information about the users before they are able to use the product. They will need to give their passports of social security numbers before they create an account, for instance.

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Author: Gabriel Machado

Blockchain Tech Will Transform Major Industries Within 10 Years: Gartner Hype Cycle Survey

The blockchain technology is certainly bringing a revolution to the financial world. What some people don’t know, however, is that several other industries are bound to be affected as well. Gartner, a giant of the information technology area, has recently affirmed that the blockchain will change most industries within 10 years.

These remarks were made on a press release that talked about its newest research: 2019 Hype Cycle. The report tries to explain how the blockchain is changing business all over the world.

According to David Furlonger, the vice president of research at Gartner, 60% of all CIOs in the survey expected to adopt the technology despite not knowing what impact it will have. However, the lack of governance is still one of the main issues that are still preventing them from achieving the potential of the technology.

18% of all the banking-related companies plan to adopt the blockchain within the 12 next months or already have done it. Other 15% plan to do it within the next two years.

Furlonger affirmed that the financial industry is already adopting the technology at quite a quick pace. However, other non-financial industries are still needing more efforts before they can be able to use the technology properly as well.

To Gartner, the key to the success of the blockchain is tokenization and decentralization. Several industries could decentralize by adopting this kind of technology and see real business value from these decisions. The authors of the study believe that only a few industries do not benefit from the technology and that the market will grow 42% annually until 2024.

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Author: Gabriel Machado

Ripple Rumor: MoneyGram and Visa’s New P2P Debit Card May Use XRP Based On Past Partnership

A very interesting rumor has surfaced in the crypto world this week. MoneyGram has recently announced a partnership with Visa to create a new P2P debit card. Now, the XRP community believes that XRP tokens may be involved in this deal.

The official press release affirms that this new P2P system will be used for money transfers in the U. S. People will be able to send money domestically using the app, which will use Visa Direct.

Visa Direct is a platform that is being used by Visa for payments all over the world. According to Alex Holmes, the chief of MoneyGram, the company is always focused on creating the best experiences and to empower its users to send money to family and friends.

The Rumors About the XRP Use

As you may know, MoneyGram was recently acquired by Ripple. This prompted several people on the internet to believe that the new debit card service may use XRP tokens as a way to transfer money. This would, according to the community, be a huge boost for the popularity of the crypto asset.

XRP tokens are very good for quick international transactions, so the community is betting that the service will be used for international payments when the service finally startds to be used outside of the U. S.

Obviously, many people still doubt this theory and so should you. Despite how quickly this rumor grew in the XRP community, there is absolutely no real indication that the whole theory is true. We’ll still have to wait for a long time before we can be certain that XRP will indeed be used in this new product.

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Author: Gabriel Machado