Coinbase Wallet Supports Litecoin [LTC] Following Sixth Largest Cryptocurrency

The fifth largest cryptocurrency, Litecoin or LTC is now available on Coinbase wallet, which was introduced in August 2018 to rebrand firm’s open source decentralized app (DApp) browser. It was revealed on Feb 21, 2019, via an official blog by Siddharth Coelho, Coinbase’s product lead.
Litecoin on Coinbase Wallet
The blog entitled ‘Announcing Litecoin (LTC) Support on Coinbase Wallet’ comes with a row of exchange announcing the support for Bitcoin Cash. It is quite interesting to note that the re-branded wallet is quite optimistic in listing the leading cryptocurrencies – such as adding sixth largest crypto, BCH on Feb 19, and recently on Feb 21, the fifth largest crypto, LTC.
Starting today, you can now store your Litecoin (LTC) directly in the Coinbase Wallet app – the blog hits.
Per the announcement, Coinbase wallet supports BTC, BCH, ETH, ETC, and other various ERC20 tokens and ERC 721 collectibles built on Ethereum. Following the latest updates, users can now begin storing LTC directly in Coinbase wallet app. The blog further reads ‘ LTC support on wallet will be activated by default. It elaborated that;
The new Wallet update with Litecoin support will roll out to all users on iOS and Android over the next few weeks, noted in Blog. All you need to do is tap ‘Receive’ on the main wallet tab and select Litecoin to send LTC to your Coinbase Wallet.
No Plans to Add XRP Yet
Moreover, it aims to add JSON payment protocol in future with exiting support of Litecoin Testnet, specifically for developers and power users. The blog goes on stating that by using ‘setting option, users can switch to the testnet’. Although the wallet looks well performing with timely updates and crystal clear information, it’s a striking point to notice ‘why XRP, the third largest crypto is still away from its plan’.
However, the XRP community members are on the constant urge to find the firm’s possible plans to add XRP, but as always, they end up with ‘no-response’.

Xrp!!!
— Tom Cushnie (@TomCushnie) February 22, 2019

As for now, the latest listing by Coinbase wallet is BCH and LTC – stay tuned with Coingape to know which crypto would be the next in a row of firm’s plan.
The post Coinbase Wallet Supports Litecoin [LTC] Following Sixth Largest Cryptocurrency appeared first on Coingape.
Source: CoinGape

Ripple Present the Case for Why Europe Needs Just-in-Time Payments

In its latest blog from the insight section, Ripple talks about the need of just-in-time payments for EU. The small and medium enterprises (SMEs) in this region lacks the trust and creditworthiness that requires them to pay even before the goods can be delivered for their business.
“You can only enjoy trust if you have a long-term relationship with someone. If you are a new company, it’s very difficult to have this trust from the start. This is a barrier to innovation for anyone trying to build a startup that can compete on a global scale,” explained Jiri Kobelka, the CEO of Tatum Blockchain API.
This means payments need to be made quickly before the good are even dispatched and the fact that Europe’s cheapest suppliers that can provide these SMEs a competitive edge are outside the EU such as Russia, Serbia, and Ukraine makes it all the more difficult. In its blog, Ripple notes that “paying these suppliers is an expensive process that takes anywhere between three and five days.”
Just-in-Time Payments to Boost Innovation
Despite having the benefits of free movement of capital, goods, and people, Europe has an innovation problem and stands well behind the US and China. Here, financial service providers can play a crucial role by “reducing the friction” that are basically slowing down the payments across the EU.
“Cross-border payments within the EU sometimes happen quickly but can also take up to 24 hours if the payment was initiated outside regular bank opening hours or if it’s going through a country with slower processes like Spain.”
As Kobelka further shares, faster and cheaper remittances could “shift Europe’s economy to the next level and open the market for opportunities in the international trade.”
Ripple has proven in its pilot testings that it can settle real-time payments while cutting down costs significantly through its XRP-powered xRapid.
As it concludes, this is the time for Europe’s banks and payment services to adopt a just-in-time payments process to become the preferred providers of the growing number of SMEs that want to have an impact at a global scale.
 
 
The post Ripple Present the Case for Why Europe Needs Just-in-Time Payments appeared first on Coingape.
Source: CoinGape

Bitconnect Investigation Takes A New Turn, FBI Searching for “Potential Victims’

As on Feb 20, 2019, Federal Bureau of Investigation (FBI) is looking for ‘potential victims’ of scammed Bitcoin scheme ‘Bitconnect coin’. The announcement was made on FBI’s official website, entitled ‘Seeking Potential Victims in Bitconnect Investigations’. It means that ‘if you were indulged with ‘Bitconnect Coin or BCC’ in past, FBI regulators are in search for you.
FBI looking for victims of the Bitconnect Ponzi Scheme
Well, to hark back, Bitconnect or BCC was a Ponzi scheme on bitcoin, started in Nov 2016 and collapsed in early 2018. Essentially, the closure of BCC came into the picture after US state-level securities regulators sent out the warning to all its investors, notifying the scam scheme BCC is involving. To that time, investors were just empty handed – nearly ‘nothing’ in their wallets’.
As of yesterday, the Feb 20, FBI calls out ‘true victims’ of so-called BCC token to fill a quick questionnaire. This is because the investors involved in Ponzi schemes are quite difficult to identify, hence regulators conducting a brief review that would help the FBI take the process further.
So readers, if anyone of you is the ‘victim of BCC token’ you can fill this form’  – ‘Seeking Victims in Bitconnect Investigation‘

As mentioned by FBI, potential victims, upon respond would be contacted by FBI team for additional information.
If you invested in Bitconnect, please complete a brief questionnaire at https://www.fbi.gov/resources/victim-services/seeking-victim-information/seeking-victims-in-bitconnect-investigation . Your responses are voluntary and would be useful in the federal assessment of this matter and to identify you as a BCC investor and/or potential victim. Based on the responses provided, you may be contacted by the FBI and asked to provide additional information.
What’s your stake on Bitconnect Ponzi scheme and the new initiative by FBI? Share your opinion with us.
The post Bitconnect Investigation Takes A New Turn, FBI Searching for “Potential Victims’ appeared first on Coingape.
Source: CoinGape

Tron (TRX) Becomes Accessible to US Institutional Investors via BitGo

BitGo, an institutional-grade investment services firm will be offering wallet and custody support for the 9th largest cryptocurrency Tron, according to the latest reports. The support for TRX will be added later this year that will make it available to institutional investors of the US.
Tron CEO Justin Sun took to Twitter to share his excitement with the Tron supporters,
“TRON is making some serious advances on increasing TRX accessibility for institutional investors. Thanks to BitGo, institutions can now trade TRX in the U.S.!”
With this addition, Tron will be joining 1000 other digital currencies like Bitcoin, Ethereum, ERC20 tokens, Stellar, Zcash among others that are already supported by BitGo, that provides security, compliance, and custodial solutions for blockchain-based currencies.
BitGo that is world’s largest Bitcoin processor reportedly transacts $12 billion every month. The company that has over 300 clients across more than 50 countries also offers insurance protection for digital assets. The wallet service of the company has over $2 billion in assets under management.
“Thank you BitGo for supporting TRX and making TRX available for institutional investors! BitGo recently announced that it now offers a $100 million insurance coverage plan for all crypto assets under its custody,” shared Tron Foundation. 
Just recently, BitGo revealed its plan to offer crypto insurance for cryptocurrency and digital assets that are being held in their Business Wallet through Lloyd’s of London. Custodial assets held by BitGo will be insured up to $100 million USD while allowing its Business wallet clients to purchase theft insurance and Lost Key Cover.
Mike Belshe, the CEO of BitGo, said:
“This is the most complete insurance offering in the industry. It is not always easy for some clients to understand under what circumstances their investments are insured and to what extent their loss would be covered. We are changing that by being more transparent than any other company about the terms of our coverage. Transparency and accuracy is essential for building trust in the market.”
Just last month, BitGo partnered with Genesis Global Trading, a Bitcoin over-the-counter trading platform in order to allow the company’s custody clients to execute internal settlements on the same day.
At the time of writing, TRX has been trading at $0.025 with 24-hours gains of 1.02 percent while managing the daily trading volume of $140 million.
The post Tron (TRX) Becomes Accessible to US Institutional Investors via BitGo appeared first on Coingape.
Source: CoinGape

eToro Survey Shows US Millennials Growing Faith In Cryptos, 71% Would Invest if Offered by Institutions

Note: “This analysis is an adaptation from the work of Mati Greenspan, Senior Market Analyst at eToro
Key Highlights

eToro Survey says US millennials have trust in crypto assets
43% of Millennial online traders say they have less faith in the stock market than crypto assets
Bitcoin recedes back after claiming the USD 4000 mark

eToro survey shows US millennials growing interested in cryptos
Well, another survey and that has gone in favor of the cryptos again. eToro conducted a survey among Millennial online traders who chose cryptos asset investment almost at par with the traditional investing options. According to the results, Almost half of Millennial online traders have shown more trust and faith in crypto exchanges than the U.S. stock market, The nationwide survey which had 1,000 online traders found that

43 percent of Millennial online traders trust crypto exchanges more than the U.S. stock exchanges.
71% of Millennials would invest in crypto if it was offered by traditional financial institutions
Half of the online investors expressed interest in a crypto allocation in their 401k plans

The result among investors and crypto traders classes also yielded the same story as Among investors across all age groups that don’t trade crypto, 59 percent of respondents said they would invest more money in crypto if it were offered by a traditional financial institution. Meanwhile, current crypto traders would be more at ease investing in the asset class if it were offered by a traditional financial institution —  92 percent would invest more money if a conventional financial institution provided this investing option.
Bitcoin reclaims USD 4000 mark only to slip down back
The rally in cryptos over the last few days has been amazing. However, even within this longest crypto bear market of all time, there have been rallies before that ended up fizzling out. So, even though it’s possible these markets go to the moon from here, it certainly pays to be cautious. However, there is some interesting news flow that is put forward by the mainstream media that has helped the Bitcoin to rally. According to a recent report by The Independent, rumor mills are running high with the news that Samsung Galaxy S 10 will soon be integrating crypto wallets in them, while Bloomberg continued the to believe JPM Coin news has taken the Bitcoin price to USD 4000.
Forbes, on the other hand, feels its altcoins rallies in XRP and EOS that are driving the Bitcoin up. Whatever the reason be posted by media, but the major trigger to this rally has been due to a shortage in Ethereum creation. This supply shortage while demand remained consistent caused Ethereum’s price to rise dramatically and the rest of the cryptos followed. By today, it’s going on sheer momentum. After months of depressed prices, it’s about time there will be a real rally in this market.
The post eToro Survey Shows US Millennials Growing Faith In Cryptos, 71% Would Invest if Offered by Institutions appeared first on Coingape.
Source: CoinGape

Litecoin Up over 120% Since December Low, What’s Fueling Litecoin to Outperform Bitcoin

The 5th largest cryptocurrency Litecoin has been having a green February for the most part as it surges 59 percent in this month alone. At the time of writing, Litecoin has been trading at $51.50 with 24-hours gains of 6.03 percent. In the BTC market as well, it has been in the green by over 6 percent.
While the top cryptocurrencies like Bitcoin, XRP, Stellar, Tron, Cardano, Bitcoin SV, IOTA, and Monero have turned red by around 1 to 2 percent, it’s amazing that Litecoin is still holding gains.
Since hitting the bottom in mid-December at below $23, Litecoin has climbed more than 120 percent, outperforming the top cryptocurrencies, especially Bitcoin.

                     LTC price chart, Source: Coinmarketcap
It is not only the Litecoin price that is surging, but the LTC/USD longs are also approaching its all-time high in November 2018. With the way the longs are spiking, there is a low possibility that a severe drop would be happening.

                     LTC/USD Longs, Source: TradingView
Litecoin Outperforming Bitcoin
Meanwhile, the February month saw Litecoin trading volume going well above $1 billion. Currently, LTC is managing the daily trading volume of $1.54 billion which is seeing a slight increase from yesterday’s $1.4 billion, unlike Bitcoin’s daily trading volume that yesterday hit its highest at $9.9 billion in about 9 months only to now drop down to $8.8 billion. According to the data provided by Coin Metrics, on February 9th, the exchange volume went to $1.7 billion for LTC and the last time Litecoin’s daily trading volume has been above $1 billion has been a year back in February 2018.

                           Litecoin Exchange Volume (USD), Source: Coin Metrics
This is not the first time that Bitcoin has been outperforming Bitcoin by price and trading volume increment as the 5th largest cryptocurrency has historically led the Bitcoin rallies as well, as Joe McCann said,
“Looking at how LTC has outperformed BTC since the epic selloff on November 14th 2018, we can see that LTC has outperformed BTC by better than 4:1 from current cycle low to current session high. As mentioned before, LTC has historically led BTC rallies…”

In the first week of February, Litecoin price started seeing a surge on the grounds of Litecoin creator, Charlie Lee announcing new features in the form of fungibility and Confidential Transactions to be added on Litecoin. However, unlike the previous time, Litecoin Foundation took active steps this time by exploring Mimblewimble implementation and collaborating with Beam for this.

Apart from the trading volume keeping the prices up, the on-chain transactions on Litecoin have been keeping stable around 20k. Even during the bear market, the transactions have held their ground that means speculators have fled from the Litecoin market, as noted by eToro senior analyst, Mati Greenspan, who further added,
“Unlike Bitcoin, $LTC has already snapped its long term bearish trend line (yellow) at the beginning of the year. At the moment, there’s a strong psychological resistance at $50, but after that it’s smooth sailing #ToTheMoon.”
Well, Litecoin has already crossed $51 and now with only about 168 days are left in Litecoin reward halving, it would be interesting to see where will this short-term rally lead to or if Litecoin is leading another rally to the peak!
The post Litecoin Up over 120% Since December Low, What’s Fueling Litecoin to Outperform Bitcoin appeared first on Coingape.
Source: CoinGape

Emaar Denied Reports of Accepting Cryptocurrency as Payment

This week, reports claimed that the developers of Dubai’s tallest building ‘Burj Khalifa’ is planning to accept the digital currency as payment. And today, the Bloomberg reported that developers ‘Emaar Properties PJSC’ has denied the claims of reports.
Consequently, developers are accepting only national currency ‘UAE’s dirham and US Dollar’ and not any digital currency. As a response to the question, Emaar’s spokesperson clarified that;
“Emaar does not accept payment in digital currency. “Emaar only accepts payment in government-issued currency, primarily in U.A.E. dirham and U.S. dollar.”
This comes as a response to what reports claimed to be true citing email’s snap as well as a Dubai based Twitter user’s tweet. Sources quoting a note from the email and states;
“We are pleased to announce now that all customers will be able to buy Emaar Properties using digital currencies (Bitcoin and Ethereum). “The transaction will happen through one of the biggest brokers of digital currencies in the world ‘Bitcoin Suisse’ who are regulated and based in Switzerland.
A tweet that leaked out the fake information is not available at the moment – moreover, below is the image that claimed to be an email from Emaar developers.

What’s your stake on this? share your opinion with us. 
The post Emaar Denied Reports of Accepting Cryptocurrency as Payment appeared first on Coingape.
Source: CoinGape

Binance DEX Testnet Launched, BNB Breaks into a New ATH in BTC Market

“Fast and secure decentralized digital asset exchange. The new cryptocurrency trading standard is here,” states the website of the brand new launched Binance DEX.
The much anticipated Decentralized exchange (DEX) of the world’s largest cryptocurrency exchange Binance has finally launched its testnet for public testing. Binance DEX aims to bring the best of its centralized exchange’s features in a decentralized setting.

As Binance CEO, Changpeng Zhao better known as CZ has pointed out previously, the focus of the DEX would be on security, user-friendliness, and speed. Recently, in an interview, he had shared,
“The user interface on Binance DEX is similar to the interface of Binance.com. Fast, secure and user-friendly. We envision the Binance Chain to help grow the community and further crypto adoption and accessibility.”
Recently, in a blog post, Binance had shared that the common problem that exiting DEXs face is in the form of difficulty in attracting the users which is due to less intuitive user experience, speed, and liquidity issues.
But Binance is all set to tackle this issue of reaching a wider user base head-on as they are in a “unique position” to run a secure exchange platform that processes billions of attractions with speed as it’s all about “replicating” the success of its market-leading centralized exchange into the decentralized realm.
No doubt, Binance is best suited for this challenge. Even despite the demand from the users, existing DEXs haven’t been able to live up to their expectations, however, Binance DEX is hitting just the ‘pain point’ of the users by offering this community initiative with low trading fees, user-friendly, and a safe and secure platform. Apart from near-instant transactions finality with an order matching engine, it allows its users to hold their own keys.
Binance DEX Hit the Right Chords for BNB Price
“BNB, currently an Ethereum ERC20 token, will be migrated to Binance Chain to become the native asset of the new blockchain,” mentions the official BInance DEX website.
In the past 24-hours, BNB has taken a hike of more than 15 percent at $$11.16. In the BTC and ETH market as well, it is up by 14 and 17 percent respectively, according to the data provided by Coinmarketcap.

        BNB Price Chart, Source: Coinmarketcap
Since mid-December, Binance’s native currency BNB has been on an upward movement and now the launch of Binance DEX has given the 10th largest cryptocurrency another boost. As a result, BNB has made a new all-time high (ATH) in the BTC market.
The post Binance DEX Testnet Launched, BNB Breaks into a New ATH in BTC Market appeared first on Coingape.
Source: CoinGape

Stellar [XLM] Surpassed TRON (TRX), Citing Big Announcement by IBM and Bitbond

Today’s average market cap for Stellar (XLM) is greener than other currencies – remarkably it jumped over TRON (TRX). According to the data from coinmarketcap, the present value of XLM is appreciated with 3.64 percent over the past 24 hours and has surpassed TRN’s eighth spot.

IBM Hints To Partnered With XLM
It’s quite amazing to find what influence the price of XLM surged in a couple of hours. Often the constructive statements around any coin appreciate its value – its quite true in case of XLM too this time. Nonetheless, during an interview, Jesse Lund who is the head of blockchain solutions at IBM hints a new partnership with Stellar (XLM). In an interview, IBM which is bullish on Blockchain and has big plans for Blockchain World Wire (the Stellar-powered system launched by IBM in September last year), states; ‘a lot of announcements are coming soon’.
Moreover, with Fred Schebesta, co-founder at Finder and host of YouTube show ‘The Daily Exchange’, Jesse Lund reveals;

IBM has several “letters of intent” with major banks to release digital currencies.
World Wire will be supporting 50 countries out of the gate, ‘dragging along’ up to 40 banks.
A special announcement” of a partnership with the Stellar Development Foundation.

Moreover, the Lund claims that he would be marking his presence in Singapore’s major event with Jed McCaleb very soon. As soon as, the so-called ‘special announcement’ that hints at IBM and Stellar partnership rolled out, crypto enthusiasts began expecting XLM price to grow. Indeed it happened.
Bitbond’s STO Comes with XLM as Return
Moreover, very recently, Coingape reported ‘Germany’s Bitbond became the first regulated blockchain firm to issue STO tokens. Nevertheless, the firm announced to offer investor’s return on capital invested in the form of XLM than the other largest cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), XRP and so on.

@Bitbond announced that it has received a green signal from the regulators to issue #STO. #BaFin has approved Bitbond’s STO plea under the German Banking Act.https://t.co/egimoThEAl#BitbondSTO #Securitytoken #STO #Cryptocurrency #Crypto #Blockchain
— CoinGape (@CoinGapeMedia) February 19, 2019

XLM Took New Move
As for now, the graph points XLM on eight positions again whereas the TRX slid down to the ninth position with a brief decline of 1.33 percent during the last 24hours. Moreover,the average trading volume of XLM counts $1,684,600,971 as compared to TRX’s volume $1,656,235,621.

What’s your stake on XLM growth? share your opinion with us. 
The post Stellar [XLM] Surpassed TRON (TRX), Citing Big Announcement by IBM and Bitbond appeared first on Coingape.
Source: CoinGape

Bitmain’s Game Plan: Rushes in Bitcoin Mining Chip Just a Day Before Reporting $500 Million Loss in IPO

Just yesterday, Bitmain announced the release of a new 7-nanometer Bitcoin mining processor that the company says offers new levels of energy efficiency. BM1397, the new ASIC (application-specific integrated circuit) will reportedly offer improvements in chip size, energy efficiency, and performance in the mining of the proof-of-work (POW) cryptocurrencies that are based on the SHA256 algorithm including Bitcoin (BTC) and Bitcoin Cash (BCH).
Bitmain Technologies said in its official announcement:
“This is a 28.6 percent improvement in power efficiency in comparison with Bitmain’s previous 7nm chip, the BM1391. To achieve this, Bitmain’s engineering team has thoroughly customized the chip design to optimize its architecture, circuit and economics.”

These new chips are made using TSMC, (Bitmain’s chip supplier, Taiwan Semiconductor Manufacturing Company) which the company says it is “a testament to Bitmain’s improvements in chip design methodology and deep understanding of the most advanced semiconductor fabrication technologies.”
The BM1397 chip that will feature new Antminer models the S17 and T17, to be announced at a later date by the company, is designed to provide a better mining experience while aiming to “set a new benchmark in ASIC chip technology.”
Bitmain Losses $500 Million in IPO Filing
Now, just a day after, the world’s largest maker of crypto mining equipment has reportedly made a loss of $0.5 billion in quarter 3 of 2018, reported CoinDesk. Citing a source, who saw the filing, during the first nine months of 2018, the company made a revenue of $3 billion while Quarter 3 saw only $200 million.

The Beijing-based company that filed for an Initial Public Offer (IPO) in September last year recently provided its financial results update to the Hong Kong Stock Exchange (HKEx). However, according to HKEx rules, “the latest financial period reported on by the reporting accountants for a new applicant must not have ended more than six months from the date of the listing document.”
Bitmain is currently going through a rough patch as there had been news of office closures and staff layoffs due to the slump in cryptocurrency prices as its main businesses are manufacturing the mining equipment and operating the mining pools.
The post Bitmain’s Game Plan: Rushes in Bitcoin Mining Chip Just a Day Before Reporting $500 Million Loss in IPO appeared first on Coingape.
Source: CoinGape

XRP Up Over 16% But Here’s Why You Need to be More Bullish

The 3rd largest cryptocurrency is enjoying gains just like the broad crypto market. Currently, up more than 7 percent, it is trading at $0.334 while registering 3.04 percent gains in the BTC market. With a market cap of $13.7 billion, it is managing the daily trading volume of $1.16 billion. In less than 2 days, XRP price has surged over 16 percent.

XRP price 7-days chart Source: Coinmarketcap
Mati Greenspan, a senior analyst at eToro, shared some data depicting its price and transaction volume, “Transactions in XRP went quiet from December 11th but came back with a vengeance on January 26th.”

Yoshitaka Kitao CEO of SBI Group is Bullish on XRP
Now, according to the latest video that surfaced online, the President of Japanese financial giant SBI which is also a Ripple partner, Yoshitaka Kitao, shared that he is extremely bullish on XRP and that it will surpass the market cap of Bitcoin this year.
“Because XRP is already beginning to become international, xRapid will be used for fund transfers in 2019. By increasing the so-called XRP’s plastic use, we anticipate that the [Ripple] market capitalization will easily exceed the market capitalization of Bitcoin (BTC).”
Further talking about Corda, the blockchain platform of R3 which has a joint venture with SBI and are planning to establish SBI R3 Japan, he said,
“You can use R3’s ‘Corda’ for international remittance, but Corda Settler and XRP use this because they have high affinity. That’s why the SWIFT partnership with R3 (Corda) is good news that brings bright materials to the market… What I emphasize is to combine R3 and Ripple to make XRP thoroughly practical useable.”
In a separate event, Mexico’s Deputy Finance Minister Arturo Herrera recently said in an interview with Reuters that the government is planning to cut the cost of sending cash home for Mexican families living abroad. The govt. is further hoping that the high competition from fintechs will encourage banks and financial service providers like Western Union to reduce commission and improve the exchange rates.
“That is to say, the cost of transactions must come down by about 40 percent. That is something the fintechs are probably in a better position to do than traditional actors such as banks. Their great advantage is that they can operate in a more efficient and direct way and at lower costs, which should lead to lower commissions,” said Herrera.
According to the Mexican central bank data, 24 million Mexicans live in the US which is by far the largest source of money sent home. In 2018, Mexicans sent a record $33.5 billion in remittances.
The point worth noting here is that Western Union is already piloting with Ripple for the US and Mexico corridor and its closest rival MoneyGram is also in partnership with Ripple and testing XRP for payments.
Cross-border remittance is the focal point of Ripple enabling faster and cost-effective payments, which in the light of the measures to be revealed at the annual Banking Convention in March by the Finance Ministry, Ripple and XRP usage can be expected to get a swift kick.
The post XRP Up Over 16% But Here’s Why You Need to be More Bullish appeared first on Coingape.
Source: CoinGape

Coinbase Acquired Blockchain Analytics Startup, Aims To Become ‘Google of Crypto’

One of the largest cryptocurrency exchange, Coinbase has recently signed yet another acquisition deal with blockchain startup. The latest acquisition of the blockchain intelligence startup, ‘Neutrino’ will help Coinbase determine the best performing crypto assets.
Coinbase Acquired Neutrino
Reports claimed that the Neutrino deal by Coinbase is an undisclosed acquisition. Per the agreement, this week, eight employees from Neutrino team will move to Coinbase’s London office. The firm is basically based out in Italy, providing insights and information on the crypto assets by tracking the data. Besides this, the firm also focuses on analyzing and tracking stolen digital assets, ransomware and as such other dark web activities. The kind of data would help Coinbase determine what best fits for exchange and meantime, help secure its platform from darknets acts.
In a deal announcement released today, on Feb 19, 2019, Varun Srinivasan, the Coinbase’s engineering director says that ‘Neutrino’s technology is the best we’ve encountered in this space’.
By analyzing data on public blockchains, Neutrino will help us prevent theft of funds from peoples’ accounts, investigate ransomware attacks, and identify bad actors. It will also help us bring more cryptocurrencies and features to more people while helping ensure compliance with local laws and regulations.
Becoming Google of Crypto
Moreover, addressing to the other sources, Neutrino’s presence across Europe would help Coinbase build up a good connection across European regions. Although the Neutrino is more of analytics, Srinivasan prefers calling the platform as ‘blockchain intelligence than ‘analytics’. Moreover, he says;
“They’ve done a really good job of building up in the European market. But we want to bring them to the American market and the international market and introduce them to companies that are doing all kinds of things with crypto that need blockchain intelligence.”
With the analysis startup deal in Coinbase’s favor, the exchange is likely to find the ultimate tips to implement on a platform. In a nutshell, Srinivasan expressed the mission statement of Coinbase and says that Coinbase aims to become ‘the Google of Crypto’ following ‘many different products’ within the box. He says that;
“If we see a really great team that’s built a really great product, like Neutrino, for example, you’ll see us go out and talk to them and try to bring them into the Coinbase family to extend the suite of products that we have,”
Furthermore, the official announcement welcome Neutrino team by adding;
Neutrino will continue to operate as a standalone business based out of our London office. We’re excited to welcome them to the Coinbase family!
The post Coinbase Acquired Blockchain Analytics Startup, Aims To Become ‘Google of Crypto’ appeared first on Coingape.
Source: CoinGape

Ripple: Oman’s Second Largest Bank Extending RippleNet on Mobile App, Successfully Tested to India

While Ripple continued its partnership with international fintech players and crypto trading platforms, Omanian based BankDhofar has extending RippleNet support to its Mobile App as well. It’s quite important to note that BankDhofar is already a RippleNet customer since April 30, 2018.
Instant Cross Border Mobile Banking Transfer
BankDhofar is the second largest bank of Oman in terms of market value. The bank on February 17, 2019, took to Twitter stating that they hit ‘international Instant Transfer service via its mobile App’.

We are Proud to be The #First Bank in The Sultanate and one of the first in the region to Provide International Instant Transfer through #BakDhofar_Mobile_Banking_Services App pic.twitter.com/4tJatbLH4y
— BankDhofar (@BankDhofar) February 14, 2019

The news gets quick attention from the vast audience of Twitter, especially XRP enthusiasts. The announcement claims that BankDhofar is the first bank in the region to provide ‘international instant transfer through Mobile Banking. Moreover, it has also revealed that they have successfully tested ‘international transactions’ to India in less than 2 minutes. RippleNet is a product of Ripple Blockchain firm which helps bank process cross-border transaction within seconds meantime at less cost. Per the official Ripple’s announcement in early Jan this year, RippleNet surpassed 200 customers.
“Customers will be able to transfer money abroad instantly using BankDhofar Mobile banking App. Ripple’s leading Blockchain solution for cross-border payments, including its bi-directional messaging and instant settlement features, enables BankDhofar to save customer’s time when sending payments overseas, using BankDhofar Mobile banking App”.
Additionally, BankDhofar is proudly the prime banking Sultanate to adopt RippleNet technology. Besides the bank, Navin Gupta, the managing director of ripple for South Asia and MENA also confirmed ‘non-resident Indians (NRIs) in Oman can avail the mobile service of BnakDhofar for money transfer in real-time.

Congratulations! to Bank Dhofar – Live on Ripplenet. Now Non Resident Indians (NRI's) living in Oman can App money back home in real-time. #bankdhofar #ripplenet @Ripple pic.twitter.com/HBbSGh6tQD
— Navin Gupta (@navinblockchain) February 17, 2019

What do you think of RippleNet service via Mobile Banking? Share your opinion with us.
The post Ripple: Oman’s Second Largest Bank Extending RippleNet on Mobile App, Successfully Tested to India appeared first on Coingape.
Source: CoinGape

Ethereum: ETH/USD Longs Heading for All-Time High While Daily Block Reward Hits its Lowest Ever

The expectations in the Ethereum bulls are rising as ETHUSD longs approach all-time high (ATH). Meanwhile, the daily block rewards on Ethereum network recorded the lowest on February 17 at 12989.34375 ETH.
While Ethereum price is surging, the ETHUSD longs are also close to hitting the all-time high, According to TradingView, today’s highest point has been 509161 but has now come down to 498217.

ETHUSD Longs, Source: TradingView
The Lowest Ever Ethereum Daily Block Rewards
With about 10 days left in the Constantinople hard fork, the block reward on Ethereum has already taken a hit and dropped down to its lowest as per the data provided by Etherscan that states, “Lowest Daily Block Rewards of 12989.34375 ETH were recorded on Sunday, February 17, 2019.”

Meanwhile, the Ethereum Improvement Proposal (EIP) #186 that is to “reduce ETH issuance before proof-of-stake” has been voted, that if implemented would reduce the reward allocated to miners.
According to the abstract of the proposal:
“A reduction in the issuance of ether is very likely to be price-supportive and lead to increasing investments in the platform and to help ward off speculative attacks on the value of ether by promoters of competing platforms who offer, or plan to offer, reduced token inflation rates.”

Source: http://carbonvote.com/
Meanwhile, Thomas Chippas is voicing for Ethereum futures in a letter to the US Commodity Futures Trading Commission (CFTC) where he talks about its importance for the market health.
“ErisX believes that the introduction of a regulated futures contract on Ether would have a positive impact on the growth and maturation of the market for Ether, as well as the Ethereum Network more broadly.”
He further stated the benefits of Ethereum in the letter and how an ETH-based regulated investment vehicle would “promote responsible innovation and development in the derivatives market.”
Bulls are on the Move
Crypto market is enjoying the greens as the top cryptocurrencies are registering the gains between the range of 2 to 6 percent. In the past 24-hours, the crypto market has added about 5 billion.

Top Cryptocurrencies, Source: Coinmarketcap
However, the second largest cryptocurrency Ethereum is leading among the top cryptocurrencies with 12 percent gains at $137.58. With a market cap of $14.4 billion, it is currently managing the daily trading volume of $5 billion.
The post Ethereum: ETH/USD Longs Heading for All-Time High While Daily Block Reward Hits its Lowest Ever appeared first on Coingape.
Source: CoinGape

Top Trending Cryptocurrency News of the Week: JPMorgan, Morgan Creek, QuardrigaCX and Coinmama Among Major Newsmakers

Key highlights

SEC begins reviewing crypto ETF again
JP Morgan backtracks on its crypto stance, launches JPM coin
Morgan Creek launches Blockchain Opportunities Fund
QuadrigaCX loses another CAD 500 K
Coinmama exchange hacked

SEC begins reviewing crypto ETF again
Well after a long wait due to Government Shutdown, US SEC is back at work. And with that comes a possibility that we may see a Bitcoin approval. Well this week SEC restarted its approval process on Bitcoin ETF as it began reviewing the Bitcoin ETF rule change proposal filed by NYSE Arca and Bitwise Asset Management on Feb. 11. The proposal itself was published in the Federal Register on Feb. 15, starting the countdown of 45 days which SEC has to make its initial decision on whether to approve, reject or extend the proposal.
JP Morgan backtracks on its crypto stance, launches JPM coin
Another wall street giant stole the news this week on crypto street and it was the initial crypto critic JP Morgan who finally laid its hand on cryptos. This week, the Wall Street Bank, JP Morgan announced that it would be launching the JPM coin which is a kind of digital currency which will be used to settle payments instantly between JPM clients. This token is kind of a stablecoin and will be pegged to the US dollar in 1:1 ratio. Fun fact this is the same JP Morgan whose CEO Jamie Dimon just a while back had called Bitcoin a fraud.
Morgan Creek launches Blockchain Opportunities Fund
Financial products that were built around traditional assets all this while are now coming to cryptos. According to the recent tweet put forward by Anthony Pompliano, Morgan Creek Digital hedge fund launched a Blockchain Opportunities Fund which will focus on investments in digital assets. This includes the USD 40 million investment that has come in from Fairfax County Police and Fairfax County Employee’s Pension plans. This also marked the first investment by any US public pension fund into cryptocurrency.
QuadrigaCX loses another CAD 500 K
Critical case of QuadrigaCX continues as the Canadian Exchange, which is struggling to get back $190 Mn back to its customers after its founder died in Rajasthan, as further dived into trouble as the recent report released shows that the exchange, last week, lost an additional $500,000 CAD worth of Bitcoin (BTC) by mistake. According to the recent report by E&Y, who is monitoring this case and trying to recover the locked cryptos, concluded that QuadrigaCX held $902,743 CAD ($682,000 USD) in their hot wallets, meaning that $179 million CAD (about $136 million USD) must be held in the inaccessible cold storage wallets.
Coinmama exchange hacked
Hacks and attack continue to haunt cryptos as Israel based crypto exchange, Coinmama suffered a massive data breach. It has been revealed that about 450000 users were affected and their emails and hashed passwords were breached. The incident comes amidst the multi-platform hack counting 24 companies affected with the total of 747 million records leaked from travel booking, streaming, and gaming sites. As per the exchange, the data of those users have been posted on a dark web registry.
The post Top Trending Cryptocurrency News of the Week: JPMorgan, Morgan Creek, QuardrigaCX and Coinmama Among Major Newsmakers appeared first on Coingape.
Source: CoinGape