CoinPath https://news.coinpath.io Cryptocurrency & Blockchain News Thu, 22 Aug 2019 05:46:52 +0000 en-US hourly 1 https://cdn.coinpath.io/images/uploads/2018/07/05150122/cropped-coinpath-favicon-32x32.png CoinPath https://news.coinpath.io 32 32 Low-quality crypto exchanges account for 64% of trading volume https://news.coinpath.io/low-quality-crypto-exchanges-account-for-64-of-trading-volume/ Thu, 22 Aug 2019 05:43:00 +0000 https://news.coinpath.io/?p=419659 low-quality-crypto-exchanges-account-for-64%-of-trading-volume

CryptoCompare’s latest report found that low-quality exchanges dominate the crypto market in terms of volume. Although reputable exchanges such as Binance and Coinbase saw a significant increase in market share this year, investors (or wash traders) still seem to prefer trading through riskier platforms.Low-quality cryptocurrency exchanges still dominate the marketCryptoCompare‘s…

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CryptoCompare’s latest report found that low-quality exchanges dominate the crypto market in terms of volume. Although reputable exchanges such as Binance and Coinbase saw a significant increase in market share this year, investors (or wash traders) still seem to prefer trading through riskier platforms.

Low-quality cryptocurrency exchanges still dominate the market

CryptoCompare‘s monthly review offers excellent insight into the current state of the cryptocurrency market. The data-driven analysis is an asset to those closely monitoring the crypto-sphere.

The company shared its July review with CryptoSlate, where it found that crypto traders preferred small and riskier exchanges over the high-volume, regulated ones. The report also found that some of the industry’s most trustworthy exchanges, ranked AA for their security and performance, saw their trading volume increase by 29 percent from June.

However, AA exchanges such as Coinbase and Poloniex represented only 5 percent, or $31 billion, of total aggregate volume traded on cryptocurrency exchanges in June. Meanwhile, lower quality exchanges—those with D-F ratings—represented 64 percent, or $316 billion, of total trading volume in June.

More frequent and more valuable trades on small exchanges

The report found that lower quality exchanges not only dominate the market in terms of trading volume, but they also have the largest average trade size. LBank, Coinsbit, and CoinBene had the largest average trade sizes relative to other exchanges. These exchanges had average trades of 3.7, 1.6, and 1.1 BTC, respectively.

The volume may stem from the competitive advantage of these exchanges; these more loosely regulated exchanges are better suited for laundering money or obfuscating the origins of illicit funds.

Trades on LBank, which is a D-rated exchange,

 » Read Full Article «

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‘Power to the People’: Privacy Was the Rallying Cry of Berlin’s Web3 Summit https://news.coinpath.io/power-to-the-people-privacy-was-the-rallying-cry-of-berlins-web3-summit/ Thu, 22 Aug 2019 04:03:00 +0000 https://news.coinpath.io/?p=419647 ‘power-to-the-people’:-privacy-was-the-rallying-cry-of-berlin’s-web3-summit

news It may seem trivial in some cases, but digital anonymity is no joking matter to American whistleblower and privacy advocate Edward Snowden. “We need someone to be able to post something truly idiotic on the internet and not have it haunt them for the rest of their lives,” he…

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‘Power to the People’: Privacy Was the Rallying Cry of Berlin’s Web3 Summit


Christine Kim

news

It may seem trivial in some cases, but digital anonymity is no joking matter to American whistleblower and privacy advocate Edward Snowden.

“We need someone to be able to post something truly idiotic on the internet and not have it haunt them for the rest of their lives,” he said through a webcam to a crowd of roughly 1,000 at the Web3 Summit in Berlin.

“To be able to engage in private trade is one of the basic human freedoms,” Snowden said during his Tuesday keynote. “On the internet today you can’t do that without incredible technological familiarity.”

While statements pushing for greater data privacy through encryption were by no means new for the former Central Intelligence Agency (CIA) contractor, Snowden’s words resonated deeply with the audience, which was comprised mostly of blockchain developers.

And, if the products being demoed in Berlin were any indication, those developers had already heeded the call.

Echoing the need for enhanced privacy measures atop existing blockchains, Harry Halpin, CEO of privacy startup Nym Technologies, said during his Web3 address:

“We want you [the user] to think very seriously about privacy. [Nym] tries to make it technically impossible, and not just legally difficult, to break privacy.”

Also championing the cause of data privacy was cryptocurrency pioneer David Chaum, who unveiled a new cryptocurrency called Praxxis on Tuesday to support his private messaging platform, Elixxir.

“The world … needs the Elixxir communication technology,” Chaum said in a statement released Tuesday. “It is the only known practical way to shred the metadata that is inevitably created as we live our digital lives.”

The origins of Web3

Privacy is core part of the Web3 movement,

 » Read Full Article «

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CZ v/s Vitalik – The Battle on Whether Blockchain Speed and Capacity Still a Problem https://news.coinpath.io/cz-v-s-vitalik-the-battle-on-whether-blockchain-speed-and-capacity-still-a-problem/ Thu, 22 Aug 2019 03:50:00 +0000 https://news.coinpath.io/?p=419651 cz-v/s-vitalik-–-the-battle-on-whether-blockchain-speed-and-capacity-still-a-problem

The Blockchain speed and the capacity problem is still a burning problem in the crypto space and Binance’s CEO, Changpeng Zhao, and Ethereum co-founder, Vitalik Buterin are currently in a debate around that. Zhao vs Buterin It is said that the battle for a scalable solution is the blockchain’s race…

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The Blockchain speed and the capacity problem is still a burning problem in the crypto space and Binance’s CEO, Changpeng Zhao, and Ethereum co-founder, Vitalik Buterin are currently in a debate around that.


CryptoMarketapp

Zhao vs Buterin

It is said that the battle for a scalable solution is the blockchain’s race to the moon. While a few blockchain projects are still struggling to solve scalability solutions and increase transaction per second (TPS) or transaction speed, Binance CEO believes that the problem is now largely solved.

On August 21, CEO of Binance Exchange, Changpeng Zhao (CZ) claimed that speed and capacity are a largely solved problem for newer blockchains (for now). He quietly remarks on Vitalik’s post, saying that we now need to focus on applications. CZ’s comment comes in the wake of Vitalik Buterin’s recent warning, who argues that “his blockchain is almost full”. During an interview with “The Star”, a Canadian outlet, Buterin said that the lack of scalability still exists which is becoming a barrier for organizations from joining the network.

“Scalability is a big bottleneck because the Ethereum blockchain is almost full. If you’re a bigger organization, the calculus is that if we join, it will not only be more full but we will be competing with everyone [else] for transaction space,”

Quoting the article with Buterin’s warning about Ethereum blockchain, CZ says that he liked Vitalik and ETH but believes;

speed & capacity was a problem a year ago, but now a largely solved problem for newer blockchains (for now). We need to increase real applications that people use so that we hit the new capacity issues/limits again. Focus on applications.

As always,

 » Read Full Article «

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UK NGO Implements Blockchain to Provide Banking Services to Sierra Leone https://news.coinpath.io/uk-ngo-implements-blockchain-to-provide-banking-services-to-sierra-leone/ Thu, 22 Aug 2019 03:45:00 +0000 https://news.coinpath.io/?p=419653 uk-ngo-implements-blockchain-to-provide-banking-services-to-sierra-leone

UK-based Technology Charity Organization, Kiva, is implementing blockchain to create an online ID database in the African Country of Sierra Leone. The move will ease the process of providing loans and banking aid to its population. Reportedly, Schan Duff, Vice President of Strategy for Kiva with Sierra Leone President, Julius Maada Bio, established…

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UK-based Technology Charity Organization, Kiva, is implementing blockchain to create an online ID database in the African Country of Sierra Leone. The move will ease the process of providing loans and banking aid to its population.


CryptoMarketapp

Reportedly, Schan Duff, Vice President of Strategy for Kiva with Sierra Leone President, Julius Maada Bio, established the system in the capital free-town on Wednesday. Kiva provides for loans as small as $25. Nevertheless, it creates a huge impact on these nations.

Since the country is under-developed there is isn’t much financial system in it. People have had to resort to community banks and micro-finance lenders. These organizations are controlled locally and charge extortionate interest rates.

President Bao noted at the launch,

“This visionary step here today guarantees that Sierra Leoneans are not excluded from … the global digital economy,”

The country is riddled with Ebola and social problems. The colonial justice system delays cases for 5-10 years. Their women face extreme injustice, and there is a huge barrier for entry into business for locals. Hence, a blockchain-based incorruptible banking system could provide a tremendous push to its growth.

The blockchain-based system would introduce a biometric scan of fingerprints to authenticate identity. Moreover, the President aims to include all banks and micro-finance institutions in the system. The countrywide database would promote businesses across the country.

David Sengeh, Head of Directorate of Science Technology and Innovation, told the media,

“A national platform … means that companies, institutions, and whoever can verify that what I’m saying about my loan history is (true). Anyone can fake a drivers license, but not a system like this.”

Nevertheless,

 » Read Full Article «

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Coinbase Exceeds 100,000 Trades Per Day on Bitcoin Trading Pairs: CryptoCompare July 2019 Report https://news.coinpath.io/coinbase-exceeds-100000-trades-per-day-on-bitcoin-trading-pairs-cryptocompare-july-2019-report/ Thu, 22 Aug 2019 03:40:00 +0000 https://news.coinpath.io/?p=419657 coinbase-exceeds-100,000-trades-per-day-on-bitcoin-trading-pairs:-cryptocompare-july-2019-report

HodlX Guest Blog  Submit Your Post CryptoCompare’s Exchange Review aims to capture the key developments within the cryptocurrency exchange market. Our review focuses on analyses that relate to exchange volumes, which include those related to crypto derivatives trading, market segmentation by exchange fee models, and crypto to crypto vs fiat to…

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HodlX Guest Blog  Submit Your Post

CryptoCompare’s Exchange Review aims to capture the key developments within the cryptocurrency exchange market. Our review focuses on analyses that relate to exchange volumes, which include those related to crypto derivatives trading, market segmentation by exchange fee models, and crypto to crypto vs fiat to crypto volumes.

July 2019

Macro Analysis and Market Segmentation

  • Exchange Benchmarking Analysis – Based on CryptoCompare’s Exchange Benchmark grading, AA-graded exchange volume is up 29% while lower quality volume still dominates. Exchanges with grades AA represented 5% (31 billion USD) of total aggregate volume in July, while those rated A and B represented 19% (119 billion USD) and 8% (47 billion USD) respectively. Trading volume is still dominated by lower quality exchanges, with D-E rated exchanges representing 64% combined (316 billion USD).On aggregate, volume from trusted exchanges (AA-B) increased 4.4% while volume from untrusted exchanges (C-F) only increased 0.7%. Aggregate trusted exchange volume still only represents 32% of the total market.
  • Trade Data Analysis – Untrusted exchanges LBank, Coinsbit and CoinBene had the largest average trade sizes relative to other top exchanges at an average of 3.7, 1.6 and 1.1 BTC respectively. LBank’s (D-rated) average trade size within its BTC/USDT market was roughly 15 times higher than that of Coinbase’s (AA-rated) BTC/USD market. In terms of trade count, LBank traded an average of 25,000 trades per day, while Coinbase traded over 100,000 trades per day on BTC/USDT and BTC/USD markets respectively.
  • Predominant Fee Type – Exchanges that charge taker fees represented 75% of total exchange volume in July, while those that implement trans-fee mining (TFM) represented 23%. Fee-charging exchanges traded a total of 445 billion USD in July (up 0.4% since June),

 » Read Full Article «

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How stable is a risky stablecoin? https://news.coinpath.io/how-stable-is-a-risky-stablecoin/ Thu, 22 Aug 2019 03:13:00 +0000 https://news.coinpath.io/?p=419649 how-stable-is-a-risky-stablecoin?

There’s a real disconnect between much of the crypto world and the real world. Crypto enthusiasts, and ironically, many businesses in the space are building empires that are largely built on the most outlandish and unbacked ideas. Much of which, would be deemed illegal. One particular ‘classification’ of blockchain assets…

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There’s a real disconnect between much of the crypto world and the real world. Crypto enthusiasts, and ironically, many businesses in the space are building empires that are largely built on the most outlandish and unbacked ideas. Much of which, would be deemed illegal. One particular ‘classification’ of blockchain assets which have come to light in recent years are what have come to be known as stable coins. The most popular of these is perhaps Tether’s USDT which largely operates on OMNI layer and as an Ethereum ERC20 token (both of which suffer from scalability issues). 

The problem with most modern day stable coins however is that, they heavily rely on ‘trust’. Not your ordinary trust model, but an excessive amount of trust. It was recently told in court proceedings for example, that USDT is only approximately 74% backed by cash. What should only cost approximately 74 cents continues to be worth a dollar across the crypto-sphere.

The concept of the stablecoin is in many ways flawed, but there’s a lot that can be salvaged. First is first, in order for such a token to operate without an impending risk of implosion, the asset must be 100% backed. Secondly, since no blockchain can ever solve the trust model of real world assets, it is fundamentally important that transparency is attained by transparency and through legitimate audits by legitimate organisations – regularly.

The blockchain world needs to stop thinking of such tokens in the cryptocurrency sense, and start thinking of them in the digital certificate sense. Take for example redeemable gold or silver certificates… These certificates exist in the real world and serve to provide a function for investors to buy and sell the underlying asset. This presumes that the underlying asset is redeemable,

 » Read Full Article «

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India’s Supreme Court Asks Central Bank to Justify Its Position on Cryptocurrency Businesses https://news.coinpath.io/indias-supreme-court-asks-central-bank-to-justify-its-position-on-cryptocurrency-businesses/ Thu, 22 Aug 2019 02:50:00 +0000 https://news.coinpath.io/?p=419655 india’s-supreme-court-asks-central-bank-to-justify-its-position-on-cryptocurrency-businesses

The supreme court in India has challenged the central bank’s ban of commercial banks servicing cryptocurrency business and has created a timetable for the group to justify their actions. Supreme Court Challenges RBISince 2018, the Reserve Bank of India  (RBI) has barred banks from working with cryptocurrency exchanges and other crypto-based…

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The supreme court in India has challenged the central bank’s ban of commercial banks servicing cryptocurrency business and has created a timetable for the group to justify their actions. 

Supreme Court Challenges RBI

Since 2018, the Reserve Bank of India  (RBI) has barred banks from working with cryptocurrency exchanges and other crypto-based businesses. According to the most recent hearing on Aug 21 involving the RBI’s stance towards cryptocurrency operations, the Supreme Court ruled that the central bank had not sufficiently justified the ban. 

Supreme Court Justice Rohinton Fali Nariman shared severe criticism for the RBI’s handling of crypto business in the country, and gave the central bank just two weeks to come up with a justification for the continued ban. 

Court orders:

After hearing arguments we are of the view that detailed representations by exchanges purusant to this court’s order 17.05.2018, have not been answered point by point, therefore RBI to reply them with in 2 weeks. SG to furnish various docs within 1 week.

— Crypto Kanoon (@cryptokanoon) August 21, 2019

According to the updates posted for the session, the court officials explained that crypto exchanges are looking for a reconsideration of the central bank’s stance and are willing to work with anti-money laundering regulations. 

Exchanges are not asking to uplift the ban but they are only asking you to reconsider. If you dont give answer to it, I will pass the judgment.

— Crypto Kanoon (@cryptokanoon) August 21, 2019

Mr. Sood reads out the suggestions given to RBI by exchanges. That Money laundering Act can be made applicable to exchanges as intermediaries making them responsible for reporting directly. or enjoining on banks to make additional requirements for exchanges.

— Crypto Kanoon (@cryptokanoon) August 21, 2019

The hearing comes just a month after an undrafted bill surfaced in July, showing that the Indian government was considering an outright ban on bitcoin and cryptocurrency. In response to the alleged ban, billionaire investor Tim Draper called the government “pathetic and corrupt,” leading to a firestorm of Twitter debate over how crypto regulation should be handled. 

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This Oddball Pattern Suggests the Stock Market Is Headed Higher https://news.coinpath.io/this-oddball-pattern-suggests-the-stock-market-is-headed-higher/ Thu, 22 Aug 2019 02:00:00 +0000 https://news.coinpath.io/?p=419645 this-oddball-pattern-suggests-the-stock-market-is-headed-higher

An interesting stock market pattern suggests the market will be moving higher, but it doesn't tell the entire story. | Source: AP Photo/Richard DrewBy CCN Markets: The S&P 500 is showing an intriguing pattern of behavior. May 30 was the ninth consecutive day that the stock market index closed above the…

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An interesting stock market pattern suggests the market will be moving higher, but it doesn’t tell the entire story. | Source: AP Photo/Richard Drew

By CCN Markets: The S&P 500 is showing an intriguing pattern of behavior. May 30 was the ninth consecutive day that the stock market index closed above the 200-day moving average but below the 50- day moving average.

This one is both a) utter fucking nonsense and b) incredible.

If $SPX closes today between 2800 and 2945, it will be the 9th straight day of closing ABOVE the 200d but BELOW the 50d moving avgs.

Wait til you see the 1y returns since Jan 1 ’90 following such an event. pic.twitter.com/tMiXwDrYbi

— OddStats (@OddStats) August 21, 2019

In the 30 or so instances in which this has happened over the past 30 years, the S&P 500 showed a positive one-year return that ranged between 2.4 percent and 46 percent, with but one exception in 2007.

Stock Market Patterns Don’t Always Mean Anything

Ed Butowsky, Managing Partner at Chapwood Capital Investment Management, tells CCN:

“Stock market charts can show you just about any pattern if you look hard enough. While some of these patterns are simply coincidental, others exist for a reason. Most of the time, these patterns are not useful. That’s because, if you are a long-term investor with a diversified portfolio, patterns shouldn’t matter to you.”

If you are a trader, then patterns like these might be of some limited use.

What most people and investors miss about stock market patterns is that they can be reflective of stock market psychology.

 » Read Full Article «

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Sally Ho’s Technical Analysis 22 August 2019 https://news.coinpath.io/sally-hos-technical-analysis-22-august-2019/ Thu, 22 Aug 2019 02:00:00 +0000 https://news.coinpath.io/?p=419637 sally-ho’s-technical-analysis-22-august-2019

Ethereum / Breaking News / Bitcoin / Analytics Bitcoin Bitcoin (BTC/USD) added to its recent positive sentiment early in today’s Asian session as traders continued to battle with some important technical levels that will define the market’s short-term bias. Notably, market activity continues to make strides above the psychologically-important 10,000…

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Sally Ho's Technical Analysis 22 August 2019

Ethereum / Breaking News / Bitcoin / Analytics

Bitcoin

Bitcoin (BTC/USD) added to its recent positive sentiment early in today’s Asian session as traders continued to battle with some important technical levels that will define the market’s short-term bias. Notably, market activity continues to make strides above the psychologically-important 10,000 figure as traders continue to push towards the 11,000 figure. The market’s recent bounces above key levels including the 9,765/ 9,938/ 10,268/ 10,646 areas have been supportive of price activity over recent trading sessions.

Traders have been attempting to establish a foothold above the 50-bar MA (4-hourly) for several sessions, and traders are attempting to test the 100-bar MA (4-hourly). In order to advance higher, traders will need to establish some Bids above the 100-bar MA (4-hourly). Also, traders have been attempting to gain traction above the 200-bar MA (hourly), and it appears the 50-bar MA (hourly) and 200-bar MA (hourly) are converging.  Upside price targets include the 11,032 and 11,175 levels.

Price activity is nearest the 100-bar MA (4-hourly) at 11,053.42 and the 200-bar MA (Hourly) at 10,575.83.

Technical Support is expected around 9,765.93/ 9,265.49/ 8,919.72 with Stops expected below.

Technical Resistance is expected around 11,136.82/ 11,333.91/ 11,510.44 with Stops expected above.

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.

Ethereum

Ethereum (ETH/USD) reclaimed the psychologically-important 200.00 figure recently and traders attempted to add to gains early in today’s Asian session, a couple of days after traders absorbed that level for the first time since 14 August. Traders have been attempting to establish buying pressure above the 50-bar MA (4-hourly),

 » Read Full Article «

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Tron community rejoices as block height surpasses 12 million https://news.coinpath.io/tron-community-rejoices-as-block-height-surpasses-12-million/ Thu, 22 Aug 2019 01:30:00 +0000 https://news.coinpath.io/?p=419643 tron-community-rejoices-as-block-height-surpasses-12-million

The Tron Foundation entered the cryptocurrency market only in 2018, fairly late when compared to other cryptocurrencies. However, this hasn’t posed as a hindrance to the Tron Foundation’s growth as there seems to be no stopping to the Foundation’s accomplishments. Several people have speculated that Tron’s Founder and CEO, Justin…

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The Tron Foundation entered the cryptocurrency market only in 2018, fairly late when compared to other cryptocurrencies. However, this hasn’t posed as a hindrance to the Tron Foundation’s growth as there seems to be no stopping to the Foundation’s accomplishments.

Several people have speculated that Tron’s Founder and CEO, Justin Sun, and his marketing skills, have bolstered the popularity of the coin. Justin Sun constantly updates his 1.6 million Twitter followers about the developments and achievements of the Foundation.

In the latest tweet by the Tron Foundation, the block height of Tron was recorded to have surpassed 12 million, registered a block height of 12,048,116. The tweet read,

According to @TRONSCAN_ORG, the block height of #TRON has surpassed 12M and now reaches 12048027. TRON ecosystem has became gradually stronger, that will usher in more trading volume, and also help #blockchain technology to achieve value implementation #TRX $TRX pic.twitter.com/YhBUKpdo4A

— TRON Foundation (@Tronfoundation) August 21, 2019

This development comes a few days after Tron’s weekly report reported the block height passing 11.86 million.

Additionally, Justin Sun tweeted yet another achievement of Tron, after he announced that Tron was ranked 8th in GitHub commits history. Sun’s tweet read,

According to #Cryptomiso, #TRX ranked 8 in Github commits history of 485 #cryptocurrencies based on most popular repo in the past 6 months. Hard work always shows! See our full work at @GitHubhttps://t.co/mr1u2etMSg #TRON $TRX pic.twitter.com/bOhB6s3zlL

— Justin Sun (@justinsuntron) August 21, 2019

The post claimed that Tron was ranked 8th with 1,626 commits in the last six months on GitHub.

 » Read Full Article «

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