Find the best latest news about cryptocurrency and blockchain technology in this daily post. Good read !
Bitcoin Price Blitzes to $8,200 but Wider Crypto Markets and Tokens Suffer
The price of bitcoin has surged to $8,200 over the past 12 hours, surpassing $8,300 at its daily peak, bringing the valuation of the crypto market to $300 billion.
Bitcoin Cash, ether, Ripple, EOS, and Stellar increased by 2 to 6 percent, while some cryptocurrencies like Zcash recorded an 11 percent increase in value.
Tokens Fall
Since 2017, tokens have followed the price trend of major digital assets including bitcoin and ether, with intensified movements on the upside and downside. If the price of bitcoin rose the value of tokens rose by more than 10 to 20 percent than bitcoin. If bitcoin fell, tokens fell by a larger margin.
However, in the past 48 hours, the cryptocurrency market has shown a lack of correlation between major digital assets and tokens suggesting that investors have re-allocated funds stored in small tokens to major cryptocurrencies.
The volume of bitcoin and ether, which hovered at around $3.5 billion and $1.3 billion, rose to $6.6 billion and $2.1 billion, by nearly two-fold, within a period of seven days. Meanwhile, the volume of tokens, even small cryptocurrencies that have performed particularly well against bitcoin and the US dollar throughout 2018, fell drastically over the past week.
Read more on : ccn
South Korean Mobile Telecom Giant Launches 2,500 Txns/s Commercial Blockchain
KT Corp may only be the second-biggest mobile carrier in South Korea, but the telecommunications firm is reportedly the first in the world to launch a blockchain-based commercial network.
According to The Korea Herald, KT Corp’s blockchain network will initially have the capacity to handle 2,500 transactions per second. Before the end of 2018, however, the capacity will have been quadrupled. By the end of next year, KT Corp intends to have increased the number of transactions per second to 100,000, according to the head of Blockchain Center at the KT Institute of Convergence Technology, Seo Young-il.
Enhancing Security and Transparency
Per Young-il, KT’s blockchain-based commercial network will overcome the limitations of both public blockchains and private blockchains by making the existing network more transparent and secure.
“The whole point of applying blockchain to networks is to address security and transaction issues by making the current networks more secure and trusted,” Young-il told The Herald.
According to company officials, the mobile carrier developed its own engine which is capable of processing multiple blocks simultaneously. The wireless carrier will use its existing high-performance servers.
Read more on : ccn
Bitcoin breaks above $8,300 to two-month peak
(Reuters) - Bitcoin rose above $8,300 on Tuesday to its highest level in two months, prompted by recent reports about impending approval in the United States for a cryptocurrency exchange-traded fund, which have helped bolster demand in recent sessions.
Read more on : investing
Here are 3 Reasons to Go Hard on Cardano (ADA) Before Institutional Investors Discover It
The crypto-markets are abuzz with news of a resurgent Bitcoin (BTC). The King of Crypto made some enormous gains last week that even John McAfee was wondering if this was another Bull run. The past week has been amazing and many crypto-enthusiasts believe this is the beginning of something great with the daily discoveries of more and more institutional investors getting into crypto.
There is the BlackRock investment firm that has declared its interest in blockchain technology as well as cryptocurrencies. There is the Swiss-based SIX stock exchange that plans on launching a fully integrated crypto exchange. Coinbase has also launched the Coinbase Custody service to store the digital assets of institutional investors and high net individuals.
This then brings us to three reasons why you should get some Cardano (ADA) before the institutional investors get wind of the wonderful digital asset.
To begin with, Cardano (ADA) is the cheapest digital asset in the top 10 according to market capitalization. ADA is currently trading at $0.166 at the moment of writing this. One can argue that there are too many ADA coins in circulation. There are currently close to 26 Billion ADA in circulation and a total supply of 31.11 Billion. But this is still less than the circulating supply of XRP (XRP) which stands at 39.3 Billion coins in circulation and another 60 Billion owned by the Ripple company.
Read more on : globalcoinreport
China Now Downplaying Blockchain Could Be Social Construct to Build It Up
China has led the way in terms of harsh regulations to quash cryptocurrencies like Bitcoin. They were the first country to institute blanket bans on ICOs and exchanges, and have never taken to the decentralized and liberal freedoms that comes from cryptocurrencies.
However, that does not mean that China is opposed to the potential revolutionary technology that comes from cryptocurrencies and their underlying base — blockchain. In fact, China is building toward being a nation that separates the decentralized cryptocurrencies from the underlying blockchain.
But, in the latest calls from regulators, the bullishness on blockchain has come under some scrutiny as banking regulators have said that it would be dangerous to mythologize blockchain technology. In a similar vein, another regulator from the People’s Bank of China has reiterated the hard ban on ICOs, stating they will "crush” these operations.
It is confusing to try to understand China’s position on the entire cryptocurrency space as it stands. When they put forward their bans in 2017, it might have looked like it was making a complete withdraw from anything to do with blockchain and Bitcoin. But their subsequent change in attitude to blockchain, with the president, Xi Jinping praising blockchain on March 30 — and news that they are developing their own national digital currency, suggested by a patent filed for a digital wallet on June 26 — makes one question China’s real feelings toward Bitcoin.
What is even more confusing is that the recent downplaying of blockchain, which has been highly regarded in the country, seems to be sending mixed messages. But, it could well be a way to ensure this revolutionary technology does not sweep up the citizens in a wave of hype, which could jeopardize the technology’s true potential.
Read more on : cointelegraph
Indicator Suggests Bitcoin's $8K Price Rally Could Be Overstretched
Bitcoin (BTC) has had a bullish start to the week, but the momentum could wane in the next few days, technical studies indicate.
The leading cryptocurrency rose to a two-month high of $8,130 on Bitfinex today, having witnessed an inverse head-and-shoulders breakout last week.
The 40 percent rally from the seven-month low of $5,755 reached on June 24 has put the bulls back in a commanding position. Hence, further gains could be on the cards, albeit after a brief pause or a price pullback as a key technical indicator is flashing overbought conditions.
At press time, BTC is changing hands at $8,100 on Bitfinex.
Daily chart
Notably, the relative strength index (RSI), one of the most widely used momentum indicators, jumped above 70.00 (overbought zone) earlier today and is currently located at 74.56 – its highest level since December.
Read more on : coindesk
Ethereum’s Etherscan Combats Hacking Attempt
According to an official Etherscan announcement via reddit on Monday, random JavaScript alerts containing the text "1337" popped up on the block explorer website. A hacker (or hackers) injected the alerts into the summarized comments section provided by Disqus, a third-party comment hosting service. Etherscan identified the offending comment, seen below:
The organization said no systems were compromised besides the appearance of pop-up alerts. Immediately after receiving user reports regarding the suspicious activity, Etherscan disabled the Disqus comments section and tested a patch to encode footer comments to prevent future attacks. The block explorer has also applied a patch to address "un-escaped javascript exploits" on its top comments sections.
Upon further investigation, Etherscan discovered there were three attempts to inject the "1337" alert. The organization said the first attempt seemed non-malicious in nature, whereas the following two attempts originated from a party associated with Etherscan. Additionally, there was an attempt to inject a Web3 JavaScript application programming interface (API), although this was stopped by the block explorer's backend.
Read more on : ethnews
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice.
Please conduct your own thorough research before investing in any cryptocurrency.