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Bitwise Launches Three New Cryptocurrency Market Index Funds

August 15, 2018 |

Bitwise Launches Three New Cryptocurrency Market Index Funds

Why wait for an ETF? Bitwise Index Services, a subsidiary of Bitwise Asset Management, has announced the launch of three new indexes covering the mid-cap, small-cap, and total-market segments of the crypto market, as well as the renaming of its HOLD 10 Index as the 10 Large Cap Crypto Index.

Also Read: The Daily: Stoners Drop Crypto From IPO, Binance Launches Academy

Three New Cryptocurrency Market Index Funds

Bitwise Launches Three New Cryptocurrency Market Index FundsThe launch and rebranding of HOLD 10 means that company’s cryptocurrency index roaster now features four options for investors to choose from: 10 Large Cap Crypto Index (ticker: BITX); 20 Mid Cap Crypto Index (ticker: BITW20); 70 Small Cap Crypto Index (ticker: BITW70); and 100 Total Market Crypto Index (ticker: BITW100). The Bitwise Crypto Indexes are available throughout the established financial trading ecosystem, including via Bloomberg, Reuters, Factset, and other data aggregators. Additionally, the company also announced the creation of API access and complimentary benchmarking for hedge funds.

“Our indexes are built from the ground up to respond specifically to the cryptomarket,” said Matt Hougan, Global Head of Research. “The methodology draws on best practices from the modern indexing of equities, bonds, commodities, and fiat currencies, and pairs them with crypto-native factors to ensure the indexes are safe and replicable. We believe they are the best representation of the investable cryptoasset market in the world.”

Crypto Council

Bitwise also announced the launch of an index advisory board, featuring: Srikant Dash, former Global Head of Indexing for Bloomberg and Managing Director and Global Head of Research at Standard & Poor’s Indices; Spencer Bogart, Partner and Head of Research at Blockchain Capital; and Matt Hougan the Global Head of Research at Bitwise and former CEO of both ETF.com and Inside ETFs.

“One unique thing about Bitwise is the firm’s ability to blend deep, crypto-specific expertise with in-depth knowledge of institutional asset management and indexing,” said Bogart. “The Bitwise Crypto Index Advisory Board and the family of Bitwise indexes launching today are proof of that.”

Bitwise Launches Three New Cryptocurrency Market Index Funds
Performance Charts

“Well-constructed indexes and index-linked products are key to the development of efficient investment and risk management in any new asset class,” added Dash. “I am pleased to help Bitwise bring such tools to the rapidly evolving cryptocurrency market.”

Is this development good for the ecosystem? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post Bitwise Launches Three New Cryptocurrency Market Index Funds appeared first on Bitcoin News.

Bitcoin News

The ICO Market Has Hit the Brakes

August 10, 2018 |

The ICO Market Has Hit the Brakes

The ICO economy succumbed to a dramatic decline in Q2 of this year. Such was the extent of the slump that its pushed the average ROI for ICOs into the red for the first time since records began. New figures released this week show the severity of the great ICO slowdown.

Also read: Decentralized Apps Might Be the Future but They’re Not the Present

Token Sales Are in Trouble

The fact that most ICOs from the last quarter are mired in the red will come as no surprise: anyone who’s glanced at their portfolio in the last 90 days will have deduced that much. New figures from ICOrating.com reveal the extent of the decline, but do provide a glimmer of hope for certain segments of the market. A detailed report highlights a number of interesting trends, the most headline-grabbing being the fact that despite an increase in funding, from $ 3.3 billion in Q1 to $ 8.3 billion, 50% of ICOs in Q2 failed to raise more than $ 100,000.

Other noteworthy statistics include:

  • Only 7% of ICOs from Q2 have been able to secure listings
  • 55% of all ICOs from this period failed to hit their funding target
  • 15% of projects already had a working business, versus 6% in Q1

This latter statistic could be taken as a sign of progress, but as ICOrating.com observes, “The absence of a working business had no effect on fundraising success.”

The ICO Market Has Hit the Brakes

If You Bought into an ICO in Q2, You’ve Probably Lost Half Your Investment

In Q1 of 2018, ICOs made a median return on investment of 49.32%. In Q2, that figure slipped to -55.38%. It’s hard to tell what’s more surprising: the fact that ICOs lost so badly in Q2 or that they turned a modest profit in Q1. Looking back, it’s hard to recall a lot of winners from the start of the year, or indeed from at any point this year. Like the cryptocurrency market as a whole, the ICO industry has suffered from the bloodletting that has seen every major cryptocurrency, bar three, at a loss for the year to date.

ICOrating.com’s research is to be commended for the level of granular detail it provides. Its 64-page report reveals, for instance, that 53% of all dapp-related ICOs failed, which tallies with figures showing that no one’s using dapps at this point in time. For all the hype surrounding security tokens, which were meant to be the breakthrough stars of 2018, it is utility tokens that have still raised the bulk of the funds, and by some distance:

The ICO Market Has Hit the Brakes

The research also found that projects at the idea stage – i.e comprising little more than a whitepaper and a basic team – raised just $ 4.5 million in Q2, whereas those with an MVP fared 8x better.

The ICO Market Has Hit the Brakes

Finally, Exchanges & Wallets, Real Assets, and Computing & Data Storage were the top three categories for fundraising during this period. Financial Services, Privacy & Security, and Banking & Payments, on the other hand, all wound up in the red. Q2 has been the toughest three months for ICOs yet. Token sales scheduled to go live in the remainder of 2018 will be praying for more forgiving conditions.

Do you think the ICO market will pick up in the remainder of this year? Let us know in the comments section below.


Images courtesy of Pixabay, and ICOrating.com.


Need to calculate your bitcoin holdings? Check our tools section.

The post The ICO Market Has Hit the Brakes appeared first on Bitcoin News.

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This Cryptocurrency Data Site Lists Coins by Fair Market Value

August 9, 2018 |

When people look at the prices of cryptocurrencies they usually observe prices from data sites like Coinmarketcap.com that pull aggregated digital asset spot prices from exchanges all across the world. Now there’s another market capitalization website that people may be interested in, called Coinfairvalue.com, a platform that’s a touch different than the normal data sites because it measures fair values without any implied speculation.

Also read: Electron Cash Wallet Now Available for Basic Feature Phones

This Website Highlights Cryptocurrencies and Fair Value  

This Cryptocurrency Data Site Lists Coins by Fair Market ValueCoinmarketcap.com (CMC) and the variety of other price data websites are common places people like to visit to find out the value of their favorite cryptocurrencies. Most websites like this aggregate all the spot prices from exchanges across the world and find the median average. This is why sites like CMC’s prices are different than when an individual observes the feed from a single exchange. Now there’s another site called Coinfairvalue.com (CFV) that lists the top cryptocurrency valuations but instead of using aggregated spot prices it measures fair values based on the current usage of each coin. Basically, the website is based upon the ‘Currencies Fair Value’ model published by Pablompa in 2017, explain the creators of CFV. The Pablompa model assesses compounded fair value by measuring actual real-world use by utilizing publicly available blockchain data.

“Our Market Cap differs from Market Caps in other sites because we do not make the artificial distinction between Circulating Supply and Supply,” explains the CFV website.

Let’s put it simply: the fact that the founders hold a part of the supply does not make their part of the supply less circulating than a part of the supply held for years by an investor. “Static” supply is reflected in the Velocity of Money. The more “static” supply within the total supply, the smaller the velocity – hence, the higher the tendency to hold savings.

This Cryptocurrency Data Site Lists Coins by Fair Market Value
The dollar and the euro are included in Coinfairvalue.com’s list.

An Entirely Different Look at the Top Cryptocurrencies

The CFV data is interesting for many reasons and one of them is because the top two currencies are USD and EUR which is not usually included in other market cap websites. USD has the fair market value (FMV) of $ 1 per unit while the EUR has an FMV of around $ 1.12 per unit at the time of writing. Both currencies have market caps that exceed $ 12-14 trillion dollars and the USD market capitalization is 12,903 percent larger than BTC’s $ 109B, according to CFV. The website’s creators believe USD and EUR should be included because fiat currencies have an uncertain future supply function. But CFV notes that data is sparse when it comes to the number of trades in a given period and fiat, and “the consequence is that there is poor clarity on their fair value.”

This Cryptocurrency Data Site Lists Coins by Fair Market Value
The top ten currencies according to the website’s data.

The top five cryptocurrencies are very different than the values recorded on websites like CMC. Bitcoin core (BTC) prices, for instance, are around $ 6,360 per coin at press time but the currency’s FMV on Coinfairvalue.com is $ 4,559. The second highest market capitalization held by ethereum (ETH) today is $ 360 per ETH, but CFV’s data suggests it should be worth more at $ 534 a coin. Usually, ripple (XRP) takes the third position but on CFV’s site, bitcoin cash is the third highest valued coin. BCH spot prices today are around $ 594 but CFV has the fair value priced at $ 923 per BCH. Ripple (XRP) should be only $ 0.13 per coin rather than today’s overvalued spot price of around $ 0.44 according to the website. EOS prices on CFV say that EOS is undervalued and should be worth $ 2.40 per coin more than its current market price of $ 6.

Another List Called “Honest Coinmarketcap” and the Rational Behind the Currencies Fair Value Model

CFV’s website is sure to be controversial to some cryptocurrency proponents but there have been many attempts to create more realistic coin market cap data. Just recently, news.Bitcoin.com reported on a spreadsheet created by Andrew Rennhack that he calls “Honest Coinmarketcap.” Rennhack’s aggregated data is based on global cryptocurrency volumes because the researcher claims a great majority of BTC and ETH volumes are phony. Using parts of the Currencies Fair Value model, the CFV website creators believe their data is rational.    

“It arrives at the rational conclusion that currencies must be trading at their fair value when the number of speculative trades in the particular currency itself is negligible with respect the total number of overall trades conducted using the same currency as a tool, such as in the case of when someone trades BTC for BCH because he thinks BCH will perform better,” Coinfairvalue.com details.  

It also arrives at the conclusion that even when the number of speculative trades is not negligible, and the aggregated number of speculative trades is also unbiased and cancels out, then this indicates that the currency must be trading at its Fair Value — With that in mind, while analyzing the charts, it is in fact possible to determine how much speculation occurred.

What do you think about Coinfairvalue.com’s price assessments? Let us know your thoughts in the comment section below.


Images via Shutterstock, and Coinfairvalue.com. 


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A corner of the bond market shows how Tesla could win even if Musk’s new plan flops

August 8, 2018 |

Investors in an arcane corner of the bond market are latching on to one important detail lost amid all the chaos surrounding Elon Musk’s bombshell Tuesday: Even if he ultimately fails in his effort to take Tesla Inc. private, the company could win much-needed debt relief.

That’s because more than…


L.A. Times – Business

Apple’s Market Cap Reaches $1 Trillion

August 3, 2018 |

The Silicon Valley giant became the first U.S.-listed company to surpass $ 1 trillion in stock-market value, underscoring the iPhone maker’s explosive growth and its role in fueling the rise of the technology industry to the forefront of the global economy.
WSJ.com: What’s News Asia

Apple’s Market Cap Reaches $1 Trillion

August 3, 2018 |

The Silicon Valley giant became the first U.S.-listed company to surpass $ 1 trillion in stock-market value, underscoring the iPhone maker’s explosive growth and its role in fueling the rise of the technology industry to the forefront of the global economy.
WSJ.com: US Business

SBI Plans Derivatives Platform, Huobi Eyes 30% Korean Market, Thai Four-Crypto ATM Unveiled

August 2, 2018 |

SBI Plans Derivatives Platform, Huobi Eyes 30% Korean Market, Thai Four-Crypto ATM Unveiled

Japan’s SBI Group is reportedly planning to create a crypto derivatives platform. In South Korea, Huobi is taking an aggressive approach and expects to achieve a 30% crypto market share. Meanwhile, a Thai crypto exchange has unveiled an ATM that supports four cryptocurrencies.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

SBI Plans Derivatives Platform

SBI Plans Derivatives Platform, Huobi Eyes 30% Korean Market, Thai Four-Crypto ATM UnveiledSBI Crypto Investment, a subsidiary of Japanese financial services group SBI Holdings, has acquired a 12% stake in North Carolina-based Clear Markets, Nikkei reported Tuesday.

While the acquisition price was not disclosed, the news outlet estimates that the stake “is likely worth about 1 billion yen ($ 9 million),” elaborating:

Although digital currencies are more volatile than other asset classes, a derivatives market for them that can hedge against risk remains undeveloped. SBI Crypto therefore wants to build a platform that will allow institutional investors to smoothly trade these instruments.

Last month, SBI Virtual Currencies, the crypto exchange unit of SBI Holdings, opened its Vtrade service to the public following a limited launch in June. The exchange currently supports XRP, BCH, and BTC, but plans to add ETH in the near future.

Thai Multi-Crypto ATM

SBI Plans Derivatives Platform, Huobi Eyes 30% Korean Market, Thai Four-Crypto ATM UnveiledThai cryptocurrency exchange Coin Asset unveiled its crypto ATM at the Hybrid Summit on July 28 and 29, according to Prachachat Turakij newspaper.

CEO Sivanus Yamdee explained that the ATM allows customers to purchase and sell BTC, ETH, LTC, and BCH in amounts as low as 100 baht (~US$ 3). The company plans to add more coins in the future based on demand from customers. The ATM also allows withdrawals in Thai baht.

The machine has a large touch screen and prints out a receipt after each transaction.

Coin Asset has reportedly applied for a license with Thai Securities and Exchange Commission; the agency began accepting applications last week.

Huobi Plans to Achieve 30% Korean Market Share

SBI Plans Derivatives Platform, Huobi Eyes 30% Korean Market, Thai Four-Crypto ATM UnveiledChinese exchange Huobi is planning to aggressively pursue the Korean market, according to Asia Economic news outlet. The exchange launched its trading platform in Korea in March.

At the Huobi Carnival 2018 event on August 2 in Seoul, Kim Young-chul, head of the Strategic Planning Division of Huobi Korea, announced the company’s long-term strategy. He said:

The number of members has grown rapidly to 200,000 members within two months after the opening of the virtual currency exchange…We aim to achieve 30% market share in the next year.

In addition, Kim revealed that Huobi Korea will conduct various blockchain-based businesses alongside its exchange business. It will also actively recruit talented people. In February, Huobi Korea announced that it was looking for an “Innovation Business Team Leader,” a position with a minimum annual salary of 100 million won (~$ 88,596). “This policy will continue…We will hire more talented people in the industry,” Kim detailed.

What do you think of SBI’s derivatives platform, Huobi eying 30% market share in Korea, and the Thai crypto ATM? Let us know in the comments section below.


Images courtesy of Shutterstock, SBI Group, Huobi Korea, and Coin Asset.


Need to calculate your bitcoin holdings? Check our tools section.

The post SBI Plans Derivatives Platform, Huobi Eyes 30% Korean Market, Thai Four-Crypto ATM Unveiled appeared first on Bitcoin News.

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Largest Cannabis Community Market in Israel to Accept Bitcoin Payments

July 29, 2018 |

Largest Cannabis Community Market in Israel to Accept Bitcoin Payments

Before it was turned into an investment asset, the invention of Bitcoin promised to usher in a world where anyone can pay for anything they like without a need for getting prior approval from the powers that be. The demand for uncensorable transactions still exists, and the latest example of this comes from Israel where the largest cannabis community market has turned to bitcoin payments.

Also Read: The Weekly: Muskbots Blocked, US Candidate Accepts Bitcoin, Herd of Institutional Investors

Telegrass to Accept Bitcoin Payments

Largest Cannabis Community Market in Israel to Accept Bitcoin PaymentsTelegrass, an Israeli community-based cannabis marketplace with over 100,000 members, has announced earlier today on social media that it will start charging merchants for some services, offering discounts for bitcoin payments. The community works to promote the legalization of recreational use of cannabis in Israel and offers a platform to connect buyers and sellers via the Telegram network. Merchants can still list their products for free in one city but will have to pay in order to expand their coverage.

The new funds raised with bitcoin are meant to help pay the Telegrass staff, which have been working as volunteers so far, and further public legalization efforts. The marketplace has been the target of continued police attention for working to provide anonymity to buyers and greater security for sellers, offering client verification methods that are meant to weed out undercover cops.

A Growing Demand Among Investors

Largest Cannabis Community Market in Israel to Accept Bitcoin PaymentsWhile the recreational cannabis market in Israel has been going through a slow decriminalization process, the legal cannabis market has been growing fast in recent years. “Canna Tech” startups have sprung up, agricultural companies have established sophisticated farms to supply pharmacies around the world with medical marijuana, and Israeli investors have been clamoring to get in on the action. Stocks related to the field have experienced stellar performance, and analysts often compare them to investing in bitcoin-related ventures as the two hottest trends.

We recently reported about Fantasy Network, a company traded on the Tel Aviv Stock Exchange (TASE: FNTS), that has ended all the plans it previously had to enter the “blockchain” space and turned to the legal cannabis business.

Is this development good for the ecosystem? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post Largest Cannabis Community Market in Israel to Accept Bitcoin Payments appeared first on Bitcoin News.

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Market Caps for Privacy-Centric Currencies Have Dropped Significantly

July 29, 2018 |

Market Caps for Privacy-Centric Currencies Have Dropped Significantly

Over the past few years, a few privacy-centric cryptocurrencies have gained both in popularity and value. Many of these coins like monero, dash, pivx, zcash, and more were at one time top ten digital asset contenders as far as market valuation is concerned. Now even though a few of these specific digital assets have dropped out of the top ten capitalizations, some of them are not too far behind the highest valued coins, but a great majority of them have significantly lower market caps. 

Also Read: Markets Update: Crypto-Prices See Some Recovery After the Dip

It’s been close to a decade since the birth of the original Bitcoin protocol and there have been over 1600 cryptocurrencies with all types of features launched since then. One specific digital asset feature that’s always been popular among cryptocurrency fans is anonymity. Most people know bitcoin transactions are not anonymous unless a mixing application is used, and even that type of tool is not 100 percent as the method obfuscates transactions at best. Because of this issue, a myriad of privacy-centric cryptocurrencies have been introduced over the years and many of them held top ten positions among the most valued digital assets but all of them have been bumped off the list. Quite a few of the most popular privacy-focused coins have lost considerable value since last December and a few of these tokens are also approaching some new changes and protocol upgrades.

Where Are They Now?

Monero (XMR)

Market Caps for Privacy-Centric Currencies Have Dropped SignificantlyMonero (XMR) is a privacy-focused cryptocurrency that claims to offer untraceable payments, unlinkable transactions, blockchain analysis resistance, and adaptive parameters. The cryptocurrency is different than most digital assets because it’s not based on the original Bitcoin protocol and its consensus is based on the Cryptonight protocol. Since Monero was launched in 2014, the currency has done well as far as market value is concerned. For instance, the first week of trading saw XMR prices reach .99 cents to $ 2 per coin and over the past couple years XMR has gained around 6,900 percent since launch.

Market Caps for Privacy-Centric Currencies Have Dropped Significantly
Monero markets all-time.

However, this December monero touched a high of $ 390 per XMR and so far in 2018, with current spot prices on July 28, the coin has lost -64.10 percent of value. More recently, the XMR community found out that XMR was mineable by ASIC hardware and decided to hard fork the protocol which resulted in four different monero forks. Monero is in the midst of planning to add compatibility with a privacy method called Bulletproofs and the XMR development team has announced the first Bulletproofs audit (by Kudelski Security) was successful. Monero is currently priced at $ 140 per XMR and the cryptocurrency holds the 12th largest market cap position.

Dash (DASH)

Market Caps for Privacy-Centric Currencies Have Dropped SignificantlyAnother coin that offers privacy sending features and enjoyed a long stay in the top ten is the cryptocurrency dash (formally known as darkcoin). Back in 2014, the cryptocurrency was trading for $ 1.25 -1.50 per DASH and at today’s current prices the digital asset is up 16,100 percent in value which is a pretty extraordinary feat. Although, people who didn’t get in real early on dash and bought the 2017 high have seen a loss of -83.8 percent during dash’s ATH of $ 1,500 per coin on December 21.

Market Caps for Privacy-Centric Currencies Have Dropped Significantly
Dash markets all-time.

People like dash for a few reasons which include its private send feature which uses the protocol’s masternode program to mix coins and obfuscate transactions. The masternode protocol is a favorite among dash proponents as it allows nodes to earn revenue and it’s also used with the dash governance voting system. Recently, on the dash-focused Three Amigos Podcast, it was revealed that the financial institution Fidelity owns a 15 percent stake in Neptune Dash which is a firm that offers chunks of masternode ownership. People also dislike dash for a few reasons like how it’s always been haunted by the instamine rumors back when the currency launched. Some people accuse dash of being a planned instamine, but the developers have addressed the topic many times denying the allegations. Many dash supporters believe the its features and the community’s marketing have bolstered the coin. Dash is now four spots behind the top ten cryptocurrency capitalizations sitting in the 14th position.

Zcash (ZEC)

Market Caps for Privacy-Centric Currencies Have Dropped SignificantlyAnother privacy-centric coin that has seen a lot of market action since it was launched is zcash (ZEC). In fact, ZEC markets have been pretty wild since it was introduced because if you invested in the currency during the first week of launch you might be seeing a big loss. During the first day of trading ZEC prices were around $ 2,044 per coin, $ 574 the next day, then a day later it was $ 1,624 a ZEC. In a few rare instances, some exchanges hit $ 12K per ZEC the first day. In order to make transactions private Zcash users send ‘shielded’ transactions which are protected by zero-knowledge cryptography. The zero-knowledge methods the ZEC protocol utilizes are called zk-SNARKs and zcash users can also send open and public transactions as well. However many skeptics believe the minting ceremony process of zero-knowledge proof coins (trusted setup) is not 100 percent foolproof.

Market Caps for Privacy-Centric Currencies Have Dropped Significantly
Zcash markets all-time.

The ZEC protocol has some changes taking place on October 28, 2018, as the cryptocurrency will be upgrading to what’s called ‘Sapling.’ According to the developers, the upgrade will add increased efficiency to shielded addresses and transactions. As mentioned above, ZEC markets have fluctuated intensely since it was launched last October, and during the second week of December, it was roughly $ 500-675 per coin. Today, on July 28, ZEC is worth $ 220 per ZEC and investors who bought in December 2017 have lost -56 to -67.40 percent. Moreover, if you purchased during the first week you could have lost -89 to -80 percent.

PIVX (PIVX)

Market Caps for Privacy-Centric Currencies Have Dropped SignificantlyThe cryptocurrency PIVX (Private Instant Verified Transaction) is a privacy-centric Proof-of-Stake (PoS) coin that derives its codebase from the bitcoin protocol 0.10 and dash. The PIVX system also uses a masternode mechanism and the developers claim to have recently introduced Zerocoin (zero-knowledge proofs) technology. If an individual bought PIVX during the first week of launch, the person would have gained 230,900 percent. However, if the person purchased PIVX on January 10, 2018, they would have lost -83.38 percent today. PIVX is not very close to the top ten positions at all, as the currency holds the 80th position amongst the top valued coins within the crypto-economy. Furthermore, the PIVX community has a long history of feuding with the dash community which is likely due to the project’s similarities.

Market Caps for Privacy-Centric Currencies Have Dropped Significantly
PIVX markets all-time.

A Bunch of Different Cryptocurrencies Aim to Provide Anonymity — But As Far As Market Performance is Concerned, Many of these Coins Have Significantly Lower Valuations Than the Top Ten Cryptos   

These four coins have all been top contenders within the cryptocurrency space and there are many other cryptocurrencies that have aimed to offer anonymity. Other cryptocurrencies that have done well within trading markets at one time and offer privacy-centric solutions include Zencash, Bitcoin Private, Komodo, Spectrecoin, Bitcoin Dark, Verge, Navcoin, Boolberry, Zcoin, Deeponion, and more. All of the methods these coins use consist of three similar ideas like zero-knowledge proofs, ring signatures, and masternode mixing services.

Market Caps for Privacy-Centric Currencies Have Dropped SignificantlyNow, most of these cryptocurrencies have some value but a great majority, minus the few mentioned above, are not very close to the top ten crypto-market valuations. The highest valued privacy coins that are somewhat close to the top ten positions include monero, dash, zcash, and verge. That’s only four digital assets, and the rest anon-coin’s market valuations are below the 40th position and don’t seem to be making it to the top-ten lineup anytime soon.

What do you think about privacy coins and how they have performed over the past year? Do you expect any of these cryptocurrencies to make it into the top ten highest valued digital assets? Let us know your thoughts in the comment section below. 


Images via Shutterstock, Pixabay, and the various logos for each coin. 


Need to calculate your bitcoin holdings? Check our tools section.

The post Market Caps for Privacy-Centric Currencies Have Dropped Significantly appeared first on Bitcoin News.

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Bitflyer Cracks Down on Market Manipulation – Coincheck Eyes August Relaunch

July 29, 2018 |

Bitflyer Cracks Down on Crypto Market Manipulation, Coincheck to Reopen in August

Japan’s largest crypto exchange, Bitflyer, may freeze accounts caught manipulating prices. Meanwhile, GMO Internet has released quarterly earnings for its crypto exchange subsidiary, currently looking to borrow some BTC from customers. In addition, Coincheck plans to reopen next month after it was hacked earlier this year.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Bitflyer Cracks Down on Market Manipulation

Bitflyer Cracks Down on Crypto Market Manipulation, Coincheck to Reopen in AugustBitflyer, Japan’s largest cryptocurrency exchange by volume, still does not accept new account signups. The exchange made this decision voluntarily after receiving a business improvement order from the country’s top financial regulator, the Financial Services Agency (FSA). Bitflyer announced Thursday:

In accordance with our Terms of Use, we may freeze accounts observed to have intentionally performed market manipulation or other forms of maliciously setting market prices. We will continue to do our best to build a sound trading environment.

The business improvement order Bitflyer received contains 10 “measures to ensure Bitflyer Cracks Down on Crypto Market Manipulation, Coincheck to Reopen in Augustappropriate and reliable business operation,” the FSA detailed. Five other exchanges received an improvement order at the same time. However, unlike Bitflyer’s, theirs contain fewer than ten items and do not include a “drastic review of the management system.”

Bitflyer has been delaying deposits and withdrawals as it tries to comply with the FSA’s order. Then, on July 23, the exchange submitted its improvement plan to the agency.

GMO Coin Wants to Borrow BTC Now

Bitflyer Cracks Down on Crypto Market Manipulation, Coincheck to Reopen in AugustJapanese internet giant GMO Group released its quarterly earnings on Thursday. The company recorded operating income for its crypto business in the second quarter after making a loss in the first due to sharp drops in crypto prices, GMO explained, adding:

In the virtual currency business, the number of account openings grew steadily due to aggressive promotion activities … Operating revenue in this segment was 1,612 million yen [~US$ 14.5 million], operating loss was 258 million yen [~$ 2.3 million].

Meanwhile, GMO Coin, the crypto exchange unit of GMO Internet, is currently accepting applications from customers wanting to loan the company their BTC. Customers can apply between July 24 and August 6. The minimum GMO will borrow is 10 BTC and the maximum is 200 BTC. The exchange first announced the launch of this program in May.

Coincheck to Reopen in August

Bitflyer Cracks Down on Crypto Market Manipulation, Coincheck to Reopen in AugustSince its hack in January, Coincheck has suspended new account registrations. Monex Group’s president, Oki Matsumoto, said Friday that he expects to relaunch Coincheck in August, local media reported.

The group acquired Coincheck in April after it was hacked in January. According to Monex Group’s financial results from April to June, Coincheck made a pre-tax loss of 259 million yen (~$ 2.33 million).

Matsumoto elaborated:

I would like to restart full Coincheck service in August … The management system of Coincheck has greatly improved with the entrance of Monex Group.

Meanwhile, Monex is also trying to enter the crypto market through its US subsidiary, Tradestation Group.

What do you think of Bitflyer’s crackdown, GMO Coin’s performance and BTC loan program, and Coincheck’s relaunch? Let us know in the comments section below.


Images courtesy of Shutterstock, Bitflyer, Coincheck, and GMO Coin.


Need to calculate your bitcoin holdings? Check our tools section.

The post Bitflyer Cracks Down on Market Manipulation – Coincheck Eyes August Relaunch appeared first on Bitcoin News.

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