Coinsquare Signs StellarX DEX Acquisition Deal – Second Stellar-Related Purchase in 3 Months

With respect to the latest blog published on Medium, StellarX, the Decentralized exchange has been recently acquired by Coinsquare, a Canadian Cryptocurrency exchange.
Coinsquare and StellarX DEX
Despite the dumping market, Coinsquare has made a big deal today by acquiring the Stellar. Moreover, it is the second stellar-related purchase for Coinsequare in 90 days (i.e 3 months).

Big news for $XLM #Stellar Lumens! Coinsquare, the biggest #crypto exchange in Canada, has acquired StellarX https://t.co/60bRXn7BvU
— Stellar Lumens $XLM (@xlmstellarlumen) February 14, 2019

Stellar refers to Stellar Lumens or XLM, a cryptocurrency platform. Per the acquisition deal, Stellar will still be operating under its own brand. Additionally, the core of agreement would let Stellar work and accomplish the goal outlined in the road-map. Moreover, Cole Diamond, CEO of Coinsquare says that;
“We are deeply committed to ensuring that the cryptocurrency market thrives, and adoption is key. Stellar is the fastest payment network in the world and we see enormous potential to create industry-leading services on StellarX to further broader adoption”.
It’s quite important to note that Coinsquare has already acquired BlockEQ, a private Stellar wallet in late 2018 for $12 Million and with the new acquisition of StellarX, BlockEQ’s co-founder Megah Bambra will lead the operation. Furthermore, the blog post explains that StellarX would need a home to fulfill its potential and a platform work with regulatory experience. StellarX believes Coinsquare is the best fit with close relationship across regulators of US., Europe and Canada.
Consequently, Megha Bmbra will further responsible to outgrow stellar ecosystem.
Megha Bambra, BlockEQ cofounder, will now lead StellarX. Megha and her new team of Toronto-based developers will continue to build out the product roadmap announced by Stellar last fall. As part of the acquisition, StellarX will continue to operate and grow under its own brand.
What do you think about the latest acquisition of Coinsquare? share your opinion with us.
The post Coinsquare Signs StellarX DEX Acquisition Deal – Second Stellar-Related Purchase in 3 Months appeared first on Coingape.
Source: CoinGape

Binance DEX “Binance Chain” is Ready for Public Testing on February 20 :CZ

Binance’s decentralized exchange Binance DEX is targeted to release for public testing on February 20. 
Binance DEX Coming on February 20
The decentralized exchange of Binance, Binance Chain is all set to make it to the testnet in the coming week. Binance CEO, Changpeng Zhao took to Twitter, to share it with the crypto community that the target is set for February 20th for public testing.

Recently, in the “ask me anything” session, Zhao revealed new details about the decentralized exchange that is currently under development by the largest cryptocurrency exchange, Binance. Initially, the number of network consensus validators on the Binance Chain will be small, starting with 11 validator nodes. Once the exchange goes live, they will be looking for “guys who can run very fast validators.”
“So, in the Binance Chain, there’s no smart contract. We just have an interface for you to issue tokens, and then you can trade it. Binance Chain is a very simple chain in terms of application, but it can handle very large loads. It is our opinion that the load is more important than the features.”
Binance Chain to Charge $100,000 to List Coins
In the beginning, Binance will have a lot of influence over the network as shared by Zhao meaning compared to other networks, it would be more centralized. This is in line with his “there is no absolute decentralization” remarks last year as “decentralization is not safer by default,” he had said.
At that time, Zhao had said, “Centralized and Decentralized exchanges will co-exist in the near future, complementing each other, while also having interdependence. We stand here today because we believe that Blockchain technology will change the world.”
During the AMA, it has also been revealed that Binance Chain will be charging close to $100,000 for listing new coins. This is a deliberate move on Binance part as Zhao has explained, the higher fee is to “reduce the number of spam or scam projects.” Though the fee estimate is $100k, it will be adjustable over time.
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Source: CoinGape

Diar Research Puts Question On Binance’s, OKex and Bithumb’s move towards DEX

While decentralized exchanges (DEX) were considered to the future of cryptocurrency exchanges, they somehow seem to have lost their charm. According to the recent report from Diar, decentralized exchanges have now hit an all-time low in terms of US dollar traded value, as well as Ether transaction on-chain. 
Are Decentralized Exchanges Just A Fad or Do They Have A Future?
According to the data presented by  Diar Research in its latest report, it looks like DEX’s have hit a roadblock. The data put forward shows that as on June 2017, when DEX first began appearing online, a total of $8.9Bn was been traded on-chain. But that figure dipped last year to just pipping over $7.1Bn. While the dipping from 2017- 2018 was still minuscule the first month of January has only been able to volumes of $49Mn for the month of January – to-date, an all-time new low for DEX’s
Source: Diar Report
To give a comparative perspective, these reported volumes for January 2019, as less than a tenth of what the largest centralized exchange Binance trades, alone, on a daily basis.  At this run rate, DEX’s will be able to garner around USD 600 million of on-chain volumes which would be a significant dip from last year.
It’s not just volumes in dollar terms, the other metrics such as  Ether transaction on-chain and unique addresses have also hit a new low. To quote from the report
“In terms of Ether, this month is a mere third of what was traded on Ethereum DEXs in January 2018. At the peak, over 2.3Mn ETH was traded in May 2018 – now down to 400K.”

Have Binance, OKEx and Bithumb got their strategies wrong?
Considering the demand and the hype built around the future of DEX’s a lot of centralized exchanges had announced their plans to enter the space. To name a few, Binance had already shown a short demo of their platform. OKEx’s Open Ledger DEX is already launched, as has Bithumb’s DEX. Coinbase too, last year purchased Paradex with the same vision of a decentralized exchange holding keys to the future. But none seem to have been able to get customers of their respective DEX’s despite the fascinating model of low or no fees.
And now with further tightening of the situation, there is further speculation that DEX’s may just find it too difficult to pick up. While a lot of crypto prodigies on the street have spoken in favor of DEX’s maybe they need some more time to flourish.
Will DEX pick up or would they fade out? Do let us know your views on the same.
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Source: CoinGape

Are Cryptocurrency Exchanges Safe? DEX the New Selling Keyword Post Cryptopia Hack

While New Zealand based cryptocurrency exchange Cryptopia has gone offline after suffering a security breach, industry leaders call out ‘crypto enthusiasts’ to focus more on Decentralized Exchanges to avoid losses.
DEX creators take full advantage of Cryptopia fall, DEX once again hot topic
The latest tweet of Changpeng Zhao, CEO of Binance trolls the recent catastrophic hack suffered by Cryptopia as a way to advertise ‘Binance Decentralized Exchange’. His tweet notes ‘store coins yourself or move to DEX’.

Store coins yourself. You fight hackers yourself, and guard from losing wallet yourself. Computer breaks, USBs gets lost.
Store on an exchange. Only use the most reputable, proven secure, exchanges.
Or move to DEX, disrupt ourselves. https://t.co/Ci4ux9I3VD
— CZ Binance (@cz_binance) January 15, 2019

Not everyone is on the same page
However, his first statement ‘Store coins yourself. You fight hackers yourself, and guard from losing wallet yourself’, have discouraged many of his followers at the first context. Nevertheless, many enthusiasts also commented depressingly, one of such Twitter account (username – WhalePanda) who shares updates on the crypto industry has voiced it as ‘a horrible advice’ by exchange owners. Along with him, Pierre Rochard who seems ‘strong advocate for digital currency’ responded to CZ’s tweet, stating ‘surprising to see Industry leaders’ spread bad info.

“You fight hackers yourself, and guard from losing [password] yourself. Computer breaks, [2fa] gets lost.”
More individual exchange accounts have been hacked than individual wallets.
Disappointing but not surprising to see “industry leaders” spread bad info. https://t.co/xX4MJJhBUJ
— Pierre Rochard [⚡️] (@pierre_rochard) January 15, 2019

Following many of such responses, CZ later clarified his intention and missing words. He made it clear that his intention of an early tweet was to advertise Binance DEX, unfortunately, it didn’t, henceforth he added another tweet, explaining;

Some people seems to misread this tweet. It lists 3 options. It does not say which option is better than another, as that depends on each persons security skill, preference, fund allocation, etc.
Most importantly, it is an ad for the #BinanceDEX. My bad for not making it clear.
— CZ Binance (@cz_binance) January 15, 2019

DEX is not a panacea – Kraken’s Jesse Powell
Similar to CZ, Jesse Powell who is the co-founder of Kraken cryptocurrency exchange has also cautioned public citing Cryptopia hack. Jesse Powell commented on Peter’s tweet and spoke against CZ advertising DEX. Jesse stated ‘DEXes are not a panacea’ and asks to ‘look at the DAO’.

PLEASE do not store more coins on an exchange (including @krakenfx) than you need to actively trade. Use @LedgerHQ or @Trezor. DEXes are not a panacea — look at The DAO. Open source just means exploits will be discovered sooner (probably not by good guys). 🙏 https://t.co/LmzhtCjpM0
— Jesse Powell (@jespow) January 16, 2019

Meanwhile, Crypto Market Drops Slightly following the hack news
The estimated loss of $2.5 to $3.5 million from the recent Cryptopia’s hack has spread out the negativity across the market. As such, the crypto market gets in red zone again – Bitcoin by losing 1.75 percent, XRP with loss of 1.63 percent, Eth by declining 5.70 percent over the past 24hrs. Besides these, other cryptocurrencies are also declining eventually.
Image source – https://coinmarketcap.com/
No doubt the event of hacking has once again boosted the debate of security of user funds and it will be interesting to know is DEX an answer to this. 
The post Are Cryptocurrency Exchanges Safe? DEX the New Selling Keyword Post Cryptopia Hack appeared first on Coingape.
Source: CoinGape

Week in Review: Cryptocurrency Price Analysis for the week December 17 to December 23

Congressmen Darren Soto introduces the Token Taxonomy Act
This week again Democrat Darren Soto, alongside fellow Congressman Warren Davidson, introduced the Token Taxonomy Act. The new bill plans clear up the confusion around the classification of cryptocurrency. Most importantly, it states that a digital asset is no longer security once it becomes a fully functioning network. A couple of weeks back, Sato had joined hands with Ted Budd to put an end to cryptocurrency price manipulation. The two men had introduced a couple of bills that “direct the CFTC and other financial regulators to make critical recommendations for how to improve the regulatory environment for both the consumer and business development side.”
Facebook back with crypto headlines
According to a report from Bloomberg this week, “people familiar with the matter” have stated that Facebook is working on creating a stablecoin for WhatsApp money transfers. The company is apparently planning to start in India where the country has over 200 million WhatsApp users and $69 billion in annual remittance payments. As always, one will have to take this news with a grain of salt as the announcement isn’t from Facebook itself. Facebook creating a cryptocurrency – a tale as old as time. Facebook has been ramping up its blockchain team, however, boasting about 40 members according to LinkedIn. Former PayPal president David Marcus has been running the Facebook Messenger app since 2014 and currently leads the blockchain division.
Vitalik gives away capital to Ethereum Startups
Gathering some news from Twitter, Third leading cryptocurrency Ethereum creator, Vitalik Buterin, has given away $300K in cryptocurrency to Ethereum startups. Buterin gave away the $300K to three Etherum startups: Prysmatic Labs, ChainSafe Systems, and Sigma Prime. Each of the startups has received 1K Ethereum from Buterin, which was later disclosed in a Twitter thread. All the three startups are reportedly working on to improve the Ethereum network and move it into Ethereum 2.0. ChainSafe is creating an Ethereum 2.0 compatible client; Prysmatic Labs is working to improve scalability, and Sigma Prime is also working on a 2.0 client called Lighthouse.
Hong Kong to tighten cryptocurrency laws
While Mainland China has almost shut its doors for cryptocurrency trading in the country. ICOs and cryptocurrency trading is still allowed in Hong Kong. Now, reports have emerged that be it, crypto exchanges, traders, investors, crypto-based companies or institutions; all will be put under tighter oversight of the Securities and Futures Commission (SFC) in Hong Kong. According to the latest SFC guidelines, now onwards, a license will be required for any investment funds which comprise more than 10% of bitcoin or any other cryptocurrency coins or tokens. The funds can only be sold off to professional investors.
Binance to launch DEX and 10 more fiat exchanges in 2019
This week for exchanges, Binance CEO Changpeng ‘CZ’ Zhao recently was interviewed regarding the latest developments in BTC and Binance and his outlook on the market moving forward. During the interview, CZ was asked about the changes to the expansion strategy of Binance due to melting markets to which he replied saying “Our strategy has not changed at all. We have launched one fiat exchange so far and we are about to launch 2-3 more in the next month or so. Next year we still want to build 10 more fiat exchanges and we are also launching our decentralized exchange (DEX) which is very core blockchain technology based exchange
Source: Coin260.com
Bitcoin (BTC)
Here comes Christmas and so does the Santa Claus rally which brings all green to crypto markets. Its been the first time in past 2 weeks that Bitcoin has moved over USD 4000 continuing the upward journey. The prices hit the high point of USD 4,198.43 and the lowest point of USD 3,253.12 during the week. The exchanges that were more active, in volumes, with BTC across various pairs this week were,  BitMex (21.94%), CoinBene (3.72%) and DOBI Trade (2.93%)
Among prominent news around Bitcoin, Michael Novogratz has predicted Bitcoin to hit $3,000 to $6,000 In Short Term
Ripple (XRP)
XRP still is at second place as Ethereum continues to take a beating. On the top, this week the prices of XRP were at USD 0.393330 and towards the bottom, it quoted USD 0.286942. The exchanges that were more active, in volumes, with XRP across various pairs this week were ZB.COM (13.07%)  Bitbank (11.00%), and ZBG (7.62%)
For XRP this week, XRP Voted as The Best Christmas “Crypto Gift” on Twitter
Ethereum (ETH)
Ether,like BTC is on the rise and now sits firmly above USD 100 levels. Ethereum on the top, this week was at USD 119.09 and were at lows of USD 85.38. The markets that were more active, in volumes, with ETH across various pairs this week were DOBI trade (6.46%), OEX (4.77%) and OKEx (4.74%)
Among news surrounding Ethereum this week,  Joseph Lubin, Co-Founder of Ethereum and Founder of ConsenSys, blasted his critics (especially crypto “journalists and bloggers”), and said that he could see a “very bright” future for Ethereum and its ecosystem.
The Other Movers and Shakers
The Other coins that made to the top and bottom this week according to Coin Market Cap (accessed on December 23 at 3:35 pm IST) were
Movers

Coin – Showing a rise of 211.20%
NKN – Showing a rise of 152.07%
Spendcoin – Showing a rise of 149.16%

Shakers

Veros – Showing a drop of 95.95%
empowr coin – Showing a drop of 94.79%
True Deck – Showing a drop of 82.20%

What do you think would be the sentiment of the crypto markets next week? Do let us know your views on the same.
The post Week in Review: Cryptocurrency Price Analysis for the week December 17 to December 23 appeared first on Coingape.
Source: CoinGape

Cryptocurrency Market Update: Bitcoin Cash Doubles in Three Days

FOMO Moments
A rare green Friday for crypto markets; Bitcoin Cash and SV are on a charge, Tron and Iota following.
It makes a change to see markets in the green on a Friday. The crypto rally that started on Monday has continued throughout the week and it has ended on a high. Total capitalization is over $130 billion, its highest level for almost three weeks.
Bitcoin has made over 25% since its low point of the year last weekend. Today it is up another 4% to just over $4,000. BTC made two bounces off resistance at $4,200 a few hours ago and has pulled back a little. The trend is currently bullish in what many are describing as a ‘Santa rally’.
Ethereum is having a rare good day with gains over 8% taking it close to $115. It is still $3 billion behind XRP in terms of market cap however, despite the Ripple token not having made much movement today.

The top ten is all green at the time of writing and shooting to the moon for the third day is Bitcoin Cash which has made over 40% in the past 24 hours. In this epic revival BCH has over doubled in value in just three days. On Tuesday it was still below $100 and today it has broken $200. Even Bitcoin SV is having a rare revival with a 35% gain on the day to take it to $125. Tron is still making solid progress with 13% more added today.
In the top twenty Dash is leading the pack with a rise of 18% to $90. Cardano and Iota are also performing well during the Asian trading session with gains of 14%. The only altcoin getting a beating in the top forty is Waves dumping 10%.
Aside from the two Bitcoin Cash variants, Bitcoin Diamond and Bitcoin Gold are also getting a dose of fomo today with pumps of 25 and 20 percent respectively. Entering the top one hundred with a surge of over 33% is Crypto.com Chain, CRO. Getting bashed is DEX dumping over 30%, Qash, Waves and Stratis are also in pain losing double digits at the time of writing.
Total crypto market capitalization is up over 7% on the day as it reaches $133 billion. Daily trade volume has also surged to $28 billion, its highest level for almost 8 months. Since the same time last Friday crypto markets have recovered by 25% however they are still down slightly on the month.
FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
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Binance Plans to Launch Its Decentralized Exchange (DEX) And 10 More Fiat Exchanges in 2019

Fiat crypto exchanges have been an extremely important element of the cryptocurrency ecosystem as they help onboard new users and investors. CZ and Team Binance clearly understand this and hence after successfully gaining some experience, Binance plans to start 2-3 more Fiat supportive crypto exchanges in early 2019.
“BUIDL” the key for long-term growth for cryptocurrencies
Binance CEO Changpeng ‘CZ’ Zhao recently was interviewed regarding the latest developments in BTC and Binance and his outlook on the market moving forward.
During the interview, CZ was asked about the changes to the expansion strategy of Binance due to melting markets to which he replied saying.
“Our strategy has not changed at all. We have launched one fiat exchange so far and we are about to launch 2-3 more in the next month or so. Next year we still want to build 10 more fiat exchanges and we are also launching our decentralized exchange (DEX) which is very core blockchain technology based exchange”
Looks like CZ’s comments are line with his projections that he had laid out in September 2018 where he had mentioned that Binance will launch 5 to 10 fiat-to-crypto exchanges. While speaking at the  CoinDesk’s Consensus Singapore conference, CZ indicated that within a year, he hopes to five to ten new fiat-to-crypto exchanges with a presence on every populated continent.
Binance has majorly only focused on crypto-to-crypto trading, but as CZ has some progressive plans which he notes by saying
“Fiat is still where all the money is in. … And we’ve got to open that gate.”
This plans of Fiat also aligns with Binance’s recent partnership with nations such as Singapore and Malta. CZ’s vision includes a worldwide and globally present network of fiat-to-crypto infrastructure, regulated and supported by state governments.
CZ plans also includes working with relatively smaller countries, as he believes that these countries tend to respond in a much more efficient way.
“You can access to the top-level government officials and they respond to your questions more directly and efficiently. … And they do appreciate the investment you are bringing into the local economy,”
CZ seems to be very focused on his approach and strategy as he believes cryptos are here to stay. His aggressive plans also give us the notion that the demand for cryptocurrency hasn’t withered away despite the falling prices
Do you think there is enough demand for cryptos and will Binance be able to fulfill its plans? Do let us know your views on the same.
The post Binance Plans to Launch Its Decentralized Exchange (DEX) And 10 More Fiat Exchanges in 2019 appeared first on Coingape.
Source: CoinGape

Innovation Continues Despite Crypto Crush, 0x Launches Web and dApp Payment Platform

As cryptocurrency prices continue to tumble, some blockchain projects may disappear into the digital dust while others forge on with product development that will lead to ease of use and greater adoption.
0x Instant – Crypto Transfers Simplified
Standardization of payment platforms and cross compatibility between them is one issue that needs to be addressed before cryptocurrencies get anywhere near mainstream adoption. The 0x protocol aims to do exactly that and has taken a step towards that objective with the announcement of the 0x Instant payments service.
Using the service with ‘a few lines of code’ can enable crypto purchasing to be added seamlessly to any app or website according to the announcement medium post. The open source code also allows hosts to earn a little commission on every transaction if they configure it to do so.
“Under the hood, Instant aggregates liquidity from 0x relayers for any ERC-20 or ERC-721 asset. It automatically finds the best prices within the 0x networked liquidity pool and lets users pay for tokens with ETH via MetaMask, Ledger, Trezor, or any other Ethereum wallet,” the post added.
An off-the-shelf UI and Instant Configurator can be embedded into games or dApps to enable instant crypto payments. The blog adds that ‘developers and creators can utilize Instant to build product experiences that couldn’t have existed before.’ Non-fungible token marketplaces, non-custodial crypto wallets, dApps, and crypto price feeds are already utilizing the service according to the release.
Coinbase Wallet has already integrated 0x Instant into its mobile wallet app for seamless transfer of Ethereum based tokens. Others crypto operations such as CoinGecko, Augur and Emoon are also already utilizing the system.
By eliminating third party exchanges as intermediaries, the platform allows dApp to dApp or wallet to wallet transfers and conversions minus the exchange commissions. Instant has also been designed to allow crypto-based price feed websites to monetize traffic by adding their own fees on transactions within the site.
ZRX Market Reaction
0x is essentially a protocol layer that supports the decentralized exchange and transfer of all Ethereum based tokens. Its focus is towards developers that need exchange functionality for a wide range of tokens.
Unfortunately for its own native token, the market reacted in the wrong direction as ZRX has been pulled into the digital quagmire with the rest of the altcoins. At the time of writing 0x was down 3% on the day to $0.318. Since its all-time high of over around $2.50 ZRX has plunged 87% to current levels.
Innovation and development is the key to the continuation and longevity of crypto projects, and this must now become the primary focus above the dismal prices for those that are to survive.
 
Image from Shutterstock
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Binance Posts Video Demo of Its Decentralized Exchange Featuring Binance Chain

Binance, the biggest crypto exchange by volume, yesterday released a new video demonstration of its decentralized exchange ahead of its launch in Q1 2019.
The broadcast exhibited the trading interface of Binance DEX – as the platform is called – along with its web crypto wallet feature and Binance Chain, Binance’s native public blockchain explorer which, according to the company, will be available on a testnet soon.
Source: Binance YouTube
The video tour revealed that Binance DEX would resemble the original web trading platform, especially when it comes to interface. However, there were some notable differences such as a feature that would allow users to generate a 24-word mnemonic seed phrase for private keys. Binance DEX also possesses a “balance tab,” a feature that would enable users to access the status of their accounts, and a “user icon” that would show individual wallet addresses.
With Binance Chain, individuals will be able to extract information related to blocks, transactions, wallet addresses, and order IDs, the demonstration explained.
Source: Binance YouTube
Binance Chain will empower the record keeping infrastructure of the DEX. According to the statement made during its introduction in March, the public chain also expects to offer “low latency, high throughput trading, as well as decentralized custody of funds” to mitigate single points of failures.
The block explorer would also list a feature that would list details about all the coins listed on the Binance DEX.
Binance also cleared that their DEX would not hold users’ private keys, which means they will not be able to move users’ funds as centralized exchanges do. Instead, their platform will integrate decentralized wallet applications like Trust Wallet, known for their server-free infrastructure. They would enable users to keep their wallets’ private keys in their devices than with a third-party. It means that only private key holders would have access to the funds.
Related Reading: Zhao: Binance Chain to Be Ready in “Months,” Enabling Projects to Issue Tokens
Price Surges After Announcement
The video demo release met with a positive response from the Binance trading community.
The BNB price against the U.S. Dollar jumped as much as 6.2% since it opened the day at $5.99. On a 24-hour period, according to CoinMarketCap, BNB established circa 15% gains while the rest of the top crypto assets remained red.
Source: CoinMarketCap.com
Nevertheless, as evident with the way the crypto market behaves, BNB is likely to correct lower in the near term, having been outreached its upside targets. The coin’s long-term aspects are fundamentally bullish, especially because Binance Chain would function no less than Ethereum. The chain would allow new blockchain projects to digitize and launch their assets – all backed by the BNB token.
BNB will migrate from ERC20 standard to its Binance Chain upon the mainnet launch.
The BNB/USD pair is trading at $6.34 at the time of this writing.
Featured image from Shutterstock.
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Tokens Plummet 15-20% Following SEC’s Crackdown on ICOs, Dark Days Ahead

A broad selling action in the cryptocurrency market today saw ICO coins losing 15 to 20 percent of their value. And the sentiment is likely to extend thanks to the U.S. Securities and Exchange Commission (SEC).
The U.S. regulator at the beginning of this month charged the founder of a decentralized exchange (DEX) EtherDelta on accounts of enabling the trade of unregistered securities. The Exchange until this time was available to investors as a source of liquidity for the ICO tokens.
Its “decentralized” status allowed ERC20 projects to list their assets without regulatory approval, but the SEC’s crackdown has closed their doors effectively. For the regulator, the creator of a smart contract-enabled exchange would also need to register its work with the authorities. And whatever asset these exchanges would list on their trading platforms, would have to get a securities license as well.
The news sent shivers across the lower market cap coins, each registering huge daily losses on the top of what they had already lost amidst the Bitcoin Cash fork. Loopring, for instance, dropped 19.11% against the U.S. Dollar on Monday, followed by Maker, Self, and ICON that also noted steep drops in their value.
SOURCE: CoinMarketCap
Related Reading: Ethereum Plunges 12%: Will ICOs Continue to Drag ETH Down?
DEX, ICO Industry in Trouble
The SEC decision has led the crypto community to believe that the regulator would target more exchanges in the future.
It has been warning about the potentially unlawful trading platforms for trading crypto assets already. The EtherDelta case particularly has validated that even exchanges without a central authority in place could land their developers in trouble. Zachary Coburn, the creator of EtherDelta, became a test study after he agreed to settle and pay a total of $388,000 in penalties, disgorgement, and interest.
The impact of the SEC’s crackdown can affect developers in the longer term, especially those who are U.S. residents. While it is true that the regulator cannot stop a DEX from running online, they are still able to hold someone liable for beginning the trading platform at fault. Therefore, the only way a DEX developer can avoid punishment or a fine is by moving to locations with no U.S.-treaties. It sounds good on paper but, in reality, it would not be feasible.
The only option these developers are left with is to go anonymous. But that doesn’t always work.
As far as the ICO industry is concerned, the backers of the now-listed assets have two options: either get a security license or unpin the U.S. from their crypto market map. In the near-term it could disallow U.S. residents to trade the unlicensed digital assets that the SEC deems as securities, provoking them to sell-off.
“I read this as the SEC laying the groundwork to prosecute ICOs directly for failure to register under the Securities Act, which they still haven’t done so far (except for blatant Ponzi & scams),” said Jake Chervinsky, a lawyer at U.S.-based Kobre & Kim agency. “If you launched an ICO after the DAO Report, you might be in the line of fire.”
Featured image from Shutterstock.
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Substratum Announces New Type of Crypto Exchange, beats China’s Great Firewall

Exchanges can currently be divided into two distinct categories, centralized such as Coinbase or decentralized such as IDEX. A hybrid may be on the horizon, however, from the founder of Substratum.
A Distributed and DEX Combo
According to PR Newswire Substratum has announced the development of Amplify Exchange, its new-fangled combination of distributed and decentralized exchange. It aims to provide crypto/fiat gateways for the top one hundred digital currencies when launched.
The exchange is being touted as an easy to use platform enabling traders to buy and sell directly from their bank or credit accounts. Additionally it will be a payment platform for users to buy and sell from merchants accepting crypto.
Founder and CEO of Substratum, Justin Tabb, stated;
“I am thrilled to announce the introduction of AMPLIFY EXCHANGE. It had been my vision from the day I started Substratum to build an ecosystem of products that work great independently, but are truly exceptional when used all together. With our Amplify Exchange we wanted to give everyone, regardless of his/her location or crypto expertise, the ability to easily get into and out of crypto tokens and coins. This has never been done before.”
The new exchange is the third product in the Substratum ecosystem with SubstratumNode and CryptoPay preceding it. The nodes will verify the transactions on Amplify enabling earnings in AMPX and SUB tokens for those running them.
Cracking China’s Censorship Machine
Substratum has been designed to decentralize the web by eliminating censorship imposed by repressive regimes, China being the prime example. Substratum nodes are designed to serve content to those where internet access is restricted, similar to a VPN. This technology, along with a whole raft of other internet and crypto related things, has been banned in China.
By using a global network of nodes running on user’s computers Substratum will be harder to block than regular VPN’s which have websites and centralized servers. The team already claims to have successfully routed network traffic through China’s great firewall and has posted videos on accessing blocked services such as Reddit.

How to use @reddit in #China? #SubstratumNode will gain you access to all internet content worldwide. #InternetCensorship comes to an end with the #Substratum Network.https://t.co/COAXiEP51j#cryptocurrency $sub #technology #bitcoin #blockchain pic.twitter.com/iBM08IM4vk
— Substratum (@SubstratumNet) November 5, 2018

A decentralized network powered by individuals with the goal of liberating internet access in heavily censored countries is coming closer to reality.
As with many altcoins though, SUB has suffered a major attack of the bears this year. The token has fallen over 95% from its January all-time high of $2.90. It is currently trading around $0.11, down 2.5% on the day but up almost 4% on the week.
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Waves Platform Negotiating with Malta Government Amidst Growing Relocation Trend

The Waves Project’s CEO, Sasha Ivanov, is engaged in negotiations with the Maltese government in an effort to gain all the proper accreditation in order to run their operations on the island. The news comes amidst a growing trend of cryptocurrency and blockchain companies moving to Malta in order to be in a country with a friendly regulatory environment.
‘Blockchain Island’ Growing in Popularity
In a Medium post from Wave’s official blog, the blockchain company explained that they are in the process of moving their platform to the Mediterranean island nation and are currently discussing what benefits the company’s blockchain solutions can bring to the island’s infrastructure.
The Medium post notes that:
“Waves attended a meeting with government representatives and other interested parties on the island to discuss technological cooperation in the fields of healthcare, land registry, voting and other areas, as well as proposals to use Waves as a platform for tokenised financial instruments.”
The Waves Project was founded in 2016, and currently offers a crypto wallet, a decentralized exchange platform (DEX) and a tool for releasing tokens. They also offer a crypto token – WAVES – that can be used to trade with fiat currencies and to purchase various cryptocurrencies offered on their platform.
The Waves founder and CEO spoke about the move to Malta:
“We are interested in this accreditation and are ready to start working with Malta’s legal experts to bring our ready-to-use blockchain solutions here: Waves for the financial sector and Vostok for the government and corporate sectors.”
The Growing Trend of Crypto Companies Moving to Malta
The Waves Project is currently based in Moscow, and the move to Malta is due to the crypto and blockchain friendly environment. Recently, multiple other cryptocurrency companies have moved their operations to Malta, including Binance and BitPay.
Many countries, including Japan and South Korea, have increased their regulatory requirements for cryptocurrency exchanges, which has led many of these companies to find countries that offer more benefits to crypto companies in order to increase their economic output.
Malta’s Prime Minister, Joseph Muscat, discussed Malta becoming a blockchain hub, saying that:
“Over the last months, the Maltese government has actively solved how to position Malta as a major hub in terms of the digital economy, which will play a central role in the economic sustainability of the years to come. The Maltese government has legislated three acts that will provide legal certainty to this space, involving DLT and digital financial products and services such as virtual currencies and ICOs.”
The move to encourage blockchain companies to base their operations out of Malta, which is an incredibly small country, is strategic, as these companies will add jobs and economic stimulus to the country, while also increasing the government’s tax revenue.
The Junior Minister for Malta’s Financial Services, Silvio Schembri, spoke about Waves’ move to the island, saying:
“Malta is going through exciting times with world-renowned names associating themselves with us,” adding that he is “looking forward for even further cooperation with the Waves Platform in the coming weeks.”
Featured image from Shutterstock
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Cryptocurrency Market Update: 0x (ZRX) Still Climbing From Coinbase Pump

FOMO Moments

Crypto land is recovering slightly; 0x, Tezos, Digibyte and TenX on the up, VeChain suffering.

Monday morning in crypto land is developing into a green one for a change as markets rebound from weekend losses. Total market capitalization has crept back over $250 billion and signals are turning bullish.

Bitcoin is up just two percent to $6,470, breaking a key resistance level at $6,450. There are positive signals for BTC as it approaches the next level of support. Ethereum has done better with a gain of 4.7% to trade at $460 at the time of writing.

Most of the altcoins are generally in the green with the five pumped by Coinbase showing solid gains. According to Coinmarketcap today’s winner in the top 25 is 0x which is trading 10.5% higher. Zero-x is currently trading at $1.16, up from just over a dollar this time yesterday. On the week ZRX has climbed 16.5% from $0.97 this time last Monday, it fell to a weekly low of $0.75 on July 13 before the Coinbase announcement. Over the past month 0z has made 33% gains from $0.85 this time last month. Against BTC it is up 8% on the day to 17750 satoshis and 24% on the week from 14400 satoshis this time last week.

Decentralized exchange protocol 0x has benefitted most from the premise of a Coinbase listing. Binance is taking the majority of the trade volume at the moment with over 50%. That volume has jumped from $23 million to $45 million on the day resulting in a market cap increase to $600 million and a move up the charts to 23rd spot for ZRX.

Other altcoins performing well this morning include Binance Coin up 6%, Tezos climbing 7.8%, and Digibyte with a 18% pump. TenX is also flying at the moment with a 36% spike. VeChain is still having a nightmare losing another 6% in the last 24 hours.

Total crypto market capitalization is up 3.4% to just over $260 billion and trade volume has risen from $9 to $12 billion. A small recovery is on the way but it remains to be seen if it can be sustained throughout the week.

More on 0x can be found here: https://0xproject.com/

FOMO Moments is a section that takes a daily look at the top 25 altcoins during the current trading session and analyses the best performing one, looking for trends and possible fundamentals.

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