Cryptopia: Stolen Ethereum [ETH] funds continues to move; a portion sent to EtherDelta

The hacker who stole a mammoth amount of cryptocurrency funds from Cryptopia, a New Zealand cryptocurrency exchange, continues to move to stolen funds in the market. Unlike the previous attempts, this time around the attacker transferred the funds to a decentralized exchange, EtherDelta.
Notably, this is not the first time for a hacker to opt for decentralized platforms instead of a centralized one. Another hack that reportedly took place in Marck 2019 also saw a similar pattern; the attacker who had stolen around $105 million worth of Ethereum and other cryptocurrencies from Coinbene had transferred a portion of the coins to EtherDelta.
According to Whale Alert, at press time, a total of six transactions were made to EtherDelta, approx. 3000 Ether, which was worth $758,509. To add on, a total of 1000 ETH, worth around $251,264 was transferred to another address that was used to hack the exchange. This was followed by another Twitter user, Crypto Shork, ponting out that the hacker made two transactions on EtherDelta.

Wallet:
0x1e16253b81F418ee44430d94502Bc766fe8CaDba
Still has 185.6 ETH on ED. So far he sent 12 and 15.7895 ETH to the following wallet:
0x3d40897675A7467A73610c3ABbBc8292835e67F2
— Crypto Shork (@CryptoShork) May 21, 2019

Notably, a Reddit user, FlashyQpt remarked that this was “an unnecessary amount of effort for very little gain”, considering that it was “very easy” to track these transfers. The Redditor stated, “It’s not unusual to see insane trades happen because the EtherDelta/ForkDelta platform lacks any sort of order matching. ” The user added that hacker was trying to “unmark” the stolen Ethereum coins.
The user went on to state,

The Eth was sent to the EtherDelta contract from this address where it was traded and withdrawn onto this fancy new “clean” one. You can tell that this is the address that is on the other side of the trades because the EtherDelta contract emits a Trade event that shows you all of this.”

Source: Reddit
Giraffenmensch, another Reddit user said,
“It’s dumb but a lot safer than using those dogy tumbler services. And I think the hacker is betting on the fact that courts and law enforcement are largely still completely clueless regarding cryptocurrency and might actually fall for it. Also they might do other things, maybe that’s only the first step.”
Source: Reddit
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Source: AMB Crypto

SEC delays VanEck Bitcoin ETF decision days after delaying Bitwise proposed rule change

The Securities and Commission Exchange [SEC] has yet again delayed another Bitcoin ETF. This time around, the commission has decided to delay the VanEck Soldix Bitcoin ETF, one of the most awaited exchange-traded funds in the cryptocurrency community.
In the document released today, the exchange has asked for more comments on the proposed rule change and has also asked for further information on queries related to the exchange-traded fund. The commission stated that it has received 25 comments on the proposed rule change so far.  It stated,
“On January 30, 2019, Cboe BZX Exchange, Inc. […] filed with the Securities and Exchange Commission, […] a proposed rule change to list and trade shares of SolidX Bitcoin Shares issued by the VanEck SolidX Bitcoin Trust […] The proposed rule change was published for comment in the Federal Register on February 20, 2019.”
It further stated
“On March 29, 2019, pursuant to Section 19(b)(2) of the Act, the commission designated a longer period within which to approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to disapprove the proposed rule change.”
Notably, the main concerns of the commission continue to be market manipulation and the measure taken by the platform to protect its investors. The commission is currently seeking comments on 14 queries pertaining to the VanEck Bitcoin ETF.
This includes the views of the ‘commenters’ on whether the exchange has entered “into a surveillance-sharing agreement with a regulated market of significant size related to bitcoin?”, the relationship between the Bitcoin futures markets and the Bitcoin spot market, with the focus being price formation, the relationship between the Bitcoin futures market and the proposed Bitcoin ETF, and the commenters’ views “of the Exchange’s assertions that bitcoin is arguably less susceptible to manipulation than other commodities that underlie ETPs”.

As expected, the SEC has delayed the VanEck bitcoin ETF proposal. Read the order here: https://t.co/OB3TBgVGwg.
VanEck’s new deadline is August 19. The SEC can & likely will delay one more time for a final deadline of October 18.
Looks like this ended up the right explanation: https://t.co/bkzeVRt1Hg
— Jake Chervinsky (@jchervinsky) May 20, 2019

Gabor Gurbacs, Director of Digital Assets Strategy with VanEck said on Twitter,
“The VanEck SolidX #Bitcoin #ETF decision has been postponed by the SEC. We continue the hard work towards better-regulated, safer and more liquid digital assets markets. Bitcoin is too big to ignore. Vires in numeris!”
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Source: AMB Crypto

Cryptopia hack: Over $7 million worth of Ethereum [ETH] transferred by hacker to unknown wallet

The New Zealand cryptocurrency exchange, Cryptopia, which fell to its doom due to a security breach that occurred earlier this year, continues to stay in the headlines. The attacker, who almost drained the exchange’s entire Ethereum wallets, has been transferring the stolen funds since the beginning of the day.
Whale Alert, a Twitter account that tracks the large sum of cryptocurrency transactions for all the top coins, has been tracking the movements of all coins compromised to recent hacks. A few minutes ago, the social media account showed that large sum of Ethereum tokens was further being moved to a different wallet.  A total of four different transactions were completed, with around 29770.7290449 ETH [over $7 million] were transferred within 15 minutes.
Notably, all the ETH from the wallet d96ba527be241c2c31fd66cbb0a9430702906a2a was transferred tod4e79226f1e5a7a28abb58f4704e53cd364e8d11, draining all the cryptocurrency from the initial wallet. More so, the attacker first transferred a 1 ETH before making huge transactions.
Wallet address transferred from | Source: EtherScan
Wallet address transferred to | Source: EtherScan
This was not the first transaction of the day; the hacker transferred a small chunk of ETH earlier today and ERC20 tokens were also moved to different exchanges.
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Source: AMB Crypto

Bitcoin [BTC]: US-China tensions fueled the cryptocurrency’s growth, says Tom Lee

Tom Lee, Co-founder of Fundstrat, spoke about Bitcoin’s [BTC] recent hike over $8000, during an interview with CNBC Fast Money. Tom Lee pointed out the possible reasons that were acting as catalysts for this surge and also spoke about the future position of cryptocurrencies.
Lee stated that the cryptocurrency was seeing a “steady rise” over the past few months, adding that it started to look “more parabolic.” He further stated that there were several events that occurred recently, thereby fueling Bitcoin’s upward move. One among them was the Consensus conference taking place in New York. On this, the Co-founder stated that the event brought together the entire cryptoverse in a “much more higher quality form,” while also highlighting the fact that scams and ICOs have seen a significant decrease.
This was followed by Lee stating that one of the “notable” catalysts was the “tension between the US and China.” He stated that “it’s really sort of sparked this potential risk of some sort of systematic meltdown and crypto is correlated.”
Further, Tom Lee spoke about what would happen next with Bitcoin. He stated that crypto-winter was practically over and that the largest-cryptocurrency was “technically above its 200 days.” He also stated that there have been several positive developments, including announcements made during the Consensus conference, like Bakkt launch and merchants accepting the coins for payments.
Lee also stated that the halving, which is set to occur next year, was also one of the reasons contributing to the rise. He pointed out that this phenomenon had occurred previously, where Bitcoin’s price starts to rally about 12 months before the halving season. He went on to state,
” […] then of course in Asia, there’s been a couple of events that has affected the supply because there was a hack on an exchange in Asia and for the past week, there have been restrictions on either withdrawing or adding funds to anyone on the exchange. That’s again affected supply, this supply and demand are obviously affecting Bitcoin […]. “
Additionally, he stated that Bitcoin closing the gap to the $10,000 level was driving positive sentiments among investors. Additionally, Lee was asked about his opinion on Bitcoin playing the role of a major safe haven in the future, if central banks had a possible meltdown. He stated,
“[…] I think its going to be an asset that will look attractive in the event of a tail risk. A tail risk event of either the loss of state and central banks, that’s the original reason cryptocurrencies were developed. So, you know and that sort of spectrum deep risk, I think Bitcoin is the epic digital gold […]”
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Source: AMB Crypto

Litecoin [LTC] bought at $100k on Binance when coin was trading at $90

Litecoin [LTC], popularly known as the silver coin of cryptoverse, rose in the market along with Bitcoin [BTC]. Amid the rise of the market, the fifth largest cryptocurrency stole the spotlight as someone made a buy order at around $100k on Binance, one of the largest exchanges in terms of trade volume. The order was executed at around 08:15 UTC on 14th May 2019, with the coin being pegged against PAX, a stablecoin.
According to the data present on Trading View, the coin’s opening price during that particular timeframe was $90.48 and the closing price was $90.04, indicating that this price shift lasted for a brief moment.
Source: Trading View

From LTC/PAX pic.twitter.com/kUCQj5UMMc
— Nick Rose (@imnotdonewritin) May 14, 2019

The Great Batsby said on Twitter,
“Someone just paid $100,000 for LTC, seriously, $100k….yes….what the fuck….someone is having a bad night.”
Joshua Davis, a Twitter user said,
“Fat fingers and thin order books cause cascading fills. These exchanges don’t have safeguards against user errors and enable SFYL”
Bitsplainer, another Twitter user said,
“Ha well the person on the other side of that trade is probably feeling pretty pleased”
This was not the first time that a cryptocurrency was sold/ bought a price that was more/less than the actual price. This trading error was witnessed in both Bitcoin [BTC] and Ethereum [ETH]. Notably, this was the second time for this to occur for Litecoin/ PAX. Earlier this month, Litecoin’s price against the stablecoin peaked around $106, when the coin’s aggregated market value was around $70.
In December 2018, when the entire cryptocurrency market was taking a deep dive into the bear’s realm, Ethereum price plunged on Coinbase Pro for a brief moment as someone sold their holding for $13 on Coinbase Pro, when the coin’s aggregated value was around $100.
According to CoinMarketCap, at press time, Litecoin was trading at $88.69 with a market cap of around $5 billion. The coin’s trading volume was recorded to be over $4 billion and the coin has dropped by 2 percent in the last 24-hours.
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Source: AMB Crypto

Bitcoin [BTC] smashes $8000 on the back of Bakkt’s Bitcoin Futures contract launch in July

Bitcoin [BTC], the largest cryptocurrency by market cap, has been on a roller coaster that has been riding the high-wave. The coin that is making significant recovery from its 2018 lows has smashed through another important benchmark by trading above $8000 on top exchanges.
According to CoinMarketCap, at press time, the largest cryptocurrency was trading at an aggregated price of $7955 with a market cap of $140.795 billion. The trading volume of the cryptocurrency was noted to be $28 billion and has witnessed a rise of over 12 percentage in the past 24-hour. On Coinbase and Gemini, the value of the currency was over $8100, while on Bitfinex it was recorded at $8000.
Source: Trading View
The coin made this break-through right after two major developments: one from Microsoft and the other from Bakkt. On the one hand, the CEO of Bakkt, Kelly Loefller announced that the Bitcoin futures contract is anticipated to launch in July this year on Federal regulated exchanges. On the other hand, Microsoft announced the launch of a decentralized project, Ion, on Bitcoin blockchain.
More so, Bakkt would be launching two Bitcoin futures, daily settled Bitcoin futures, and monthly Bitcoin futures. Bakkt’s announcement read,
“Today, we’re pleased to update you on the launch of bitcoin futures contracts developed by Bakkt in collaboration with ICE Futures U.S. and ICE Clear U.S […] User acceptance testing for bitcoin futures custody and trading planned for July”
@JonJimbo2, a Twitterati said,
“I said Back in December that when bull market is confirm, Bakkt will miraculously obtain the regulatory approval that they claimed was holding up the December launch. Coincidence????”
@TheLostBigBoss, another Twitterati said,
“So insiders front ran Bakkt news the last week or so, which is the reason we’ve had this insane pump. Makes sense, now retail people will FOMO and buy the bags the insiders are selling at the top.”
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Source: AMB Crypto

Binance reigns as the largest Initial Exchange Offering platform, finds BitMEX research

Initial Exchange Offerings [IEO] is usually referred to as the concept replacing Initial Coin Offering [ICO]. More so, several new projects are opting to raise funds via an IEO instead of an ICO, considering the fact that top exchanges are the ones providing this service.
Binance, one of the largest exchanges in the world was one of the first exchanges to introduce a token sale platform, Binance Launchpad. The platform conducted a token sale for nine projects, with the most significant one being the BitTorrent token sale. A recent report by BitMEX research on Initial Exchange Offerings revealed that Binance was the largest Initial Exchange Offering platform.
Additionally, the exchange raised a total of $17.3 million in IEOs so far, with BitTorrent being the largest token sale on the platform since it raised $7.5 million via the IEO. The second largest token sale that took place on the platform was the Celer Network, with the project raising $4.5 million, and the third largest was Fetch.AI, with the project raising $4.1 million.
Source: BitMEX research
Notably, other exchanges providing token sale services on the platform include Huobi, Bittrex, Okex, BitMax, and KuCoin. So far, Huobi has held two token sales on its platform, for TOP and Newton, and secured the second position after raising a total of $8.1 million. Bittrex stood third with a total of $7 million for one project, VeriBlock.
BitMEX research stated,
“The number of IEOs taking place has intensified in recent months, as the model is proving somewhat successful. Smaller exchange platforms are attempting to replicate the model [..] US$38.9m has been raised so far by IEOs in 2019 (up to 25th April). Binance has been the most prolific IEO platform by a considerable margin.”
Top exchange platforms by IEO funds raised | Source: BitMEX Research
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Source: AMB Crypto

Bitcoin [BTC]/Sri Lanka bombing: Our services have NOT been used by ISIS, claims CoinPayments

Bitcoin [BTC], the largest cryptocurrency in the space has often taken the center stage for being termed as a go-to coin for criminals and money launderers. The coin made headlines once again after a report by Whitestream claimed that Bitcoin donations to ISIS increased a day prior to the Sri Lanka bombing, which killed around 253 civilians.
This news, which was an exclusive by a news portal, en.globes, soon gained a lot of traction from several media houses such as Standard Digital, a Kenyan news portal, and The Daily Mirror, a Sri Lankan news portal.
The Story:
The article by Globes started with the statement,
“Israeli blockchain intelligence company Whitestream tells “Globes” how ISIS used Canadian based CoinPayments platform to convert bitcoin to money “
Source: Globes
The report stated that the ‘blockchain intelligence company’ [Whitestream] noticed that there was an increase “of hundreds of percent on the bitcoin balance,” held by the Canadian crypto-platform, CoinPayments.
It further alleged that the militant group converted fiat to Bitcoin via the exchange and that the platform’s Bitcoin wallet holdings increased from $500,000 to $4.5 million [average daily monthly balance], a day before the Sri Lanka bomb attack. More so, it also stated that the balance dropped back to its original value on the day of the attack.
The report stated,
“Whitestream said, ‘In the past two years, ISIS has been running a mass funding campaign to raise donations in bitcoin. The aim of the campaign is to contribute to the organization’s technological division, which deals with the media, advertising and computer infrastructure sectors. The main efforts are carried out through a dedicated website. The domain address is frequently changed to prevent tracking by authorities around the world.”
Additionally, the ‘blockchain intelligence company’ claimed that CoinPayments “admitted that their wallet was involved, but denies that it is connected to ISIS”. It also stated that this was not the first time CoinPayments was involved in a case similar to this, adding that it was previously tied with Hamas, a Palestinian Sunni-Islamist fundamentalist organization;
“Terrorist organizations are in the habit of exploiting unregulated commercial platforms and work through them. Whitestream works with Israel’s Ministry of Defense’s National Council for Fighting Terror Financing is order to thwart and halt these money transfers.”
Further, on how the firm recognizes addresses connected to terrorist organizations, the report said,
Source: Globes
After coming across this news, the team at AMBCrypto did a little bit of research on Whitestream and found the following. First, the Whitestream link on Globes was a redirection to a page which was still under construction.
According to the company’s LinkedIn profile, the platform was founded in 2014, with around 2-10 employees and has only two employee connections presently. Additionally, after the news of Bitcoin’s connection to the Sri Lanka bombings was published, the company’s Twitter following grew from double digits to over 2000 in a matter of two days.
Source: Whitestream
Source: Whitestream LinkedIn
Secondly, as of now, the platform’s “research” pieces have only been published by Global, a Hebrew-language news portal, according to data present on their Facebook page. Third, there was no information pertaining to the addresses involved in these cases or any blockchain proof, that would usually be provided by a ‘blockchain intelligence company,’ or any research platform that backs data in the research.
Further, our team also reached out to CoinPayments to verify the authenticity of the report and whether they actually “admitted” that these transactions were involved. The platform outrightly shot down the claims made by Whitestream, stating that they did they not provide crypto-to-fiat service. They also denied to make any remarks on the matter. They said,
“We currently do not provide any virtual currency to fiat exchange services, never made such comments to Whitestream and are currently reviewing all possible legal remedies available to us. Based on our ongoing compliance reviews of current user accounts, our services have not been used by ISIS. Any statement or allegation to this effect is false and constitutes defamation and/or libel.”
They further added,
“We have initiated legal action against whitestream as the information they published and provided is inaccurate and false. CoinPayments was not involved in providing the services whitestream mentioned. We did not get contacted by any other media outlet or anyone that re published the content.”
Conclusion
Since this domain is niche, it is imperative that we rely on authentic and reliable sources for any piece of news.
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Source: AMB Crypto

Ethereum [ETH] ProgPow: Audit’s primary focus will be on network security

Programmatic Proof-of-Work [ProgPow] has been one of the most talked about updates in the Ethereum community, with the recent news surrounding it being its audit funding. This upgrade was one of the topics discussed, during the eleventh Ethereum Cat Herders meeting.
The discussion began with Hudson Jameson, a core team member at Ethereum Foundation, giving a brief update on ProgPow audit. He stated that a recent announcement regarding ProgPow audit being funded was made, with the team successfully raising around $50,000 via Gitcoin.
Notably, based on an Ethereum Cat Herders’ blog post, it was decided that the audit would be conducted by Least Authority, a security consultancy firm. The audit would check the security of the algorithm, security risks associated with changing from Ethash to ProgPow, and its advantages and disadvantages when compared to Ethash.
Importantly, it would provide more insight into its impact on ASIC mining, which are,
“Known methods to speed up the calculation of the hash function, length of time it would it take to create a ProgPoW ASIC (if R&D begins immediately), and expected efficiency gains from the first generation of said ASICs”
Further, Hudson stated that the audit would begin once the final proposal was signed by all the parties involved, adding that the time frame for the same had not been decided yet. This was followed by Hudson talking about the changes made to the audit proposal so far. He said,
“[…] the length of time it would take to create a ProgPow ASIC has been taken out, that’s something that would be difficult to I guess. […] but really what this audit is gonna be checking primarily is the security of the Ethereum network. Like, it’d be kind of a attack surface and known methods to speed up the calculation of the hash function and then identifying any advantages or disadvantages the product […]”
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Source: AMB Crypto

Bitfinex Ethereum [ETH]: Cold wallet funds fall by around 50 percent over the past few days

Bitfinex, a leading cryptocurrency exchange, witnessed a slump of around 50 percent of its Ethereum [ETH], which was stored in its cold wallet. This decline was pointed by a Twitter user Andrew Rennhack, who stated that the cold wallet address [0x742d35Cc6634C0532925a3b844Bc454e4438f44e] had 1,100,506 ether [~1.1 million ETH], left in its account.
Andrew Rennhack said,
“Bitfinex ETH cold wallet has declined by 40% in the past week. 800k ETH or $150M has left. There’s only 1.1M ETH left or ~180M USD left at current ETH prices (which will not be this high for very much longer). This is a good old fashioned bank run folks.”
Source: Etherscan
Notably, the exchange’s Ethereum cold wallet witnessed a sharp decline on 25th April 2019, which coincides with the NY Attorney General’s announcement of an investigation on the exchange. On that day, the cold wallet had a total of 2,139,506 ether [~2.1 million ETH], recording around a 50 percent decline in the past few days.
Source: Etherscan
Dr_Cz, another Twitter user said,
“Bear market is not yet over. They can put back eths when they will buyback at significantly lower prices.”
Interestingly, Ethereum was not the only cryptocurrency to be affected, even Bitcoin [BTC] faced a significant decline because of this news. Recently, the exchange’s Bitcoin cold wallet witnessed the move of around $67 million worth of Bitcoins, three days after $89 million worth of Bitcoin were moved out of the exchange.
Moreover, Bitcoin also crossed the $6000 mark on the exchange earlier today, while the coin’s valuation remained below the mark in other exchanges. At press time, BTC/USD was trading at $6057 with a trading volume of 110 million, recording a premium rate of around $400 in comparison to other prominent exchanges.
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Source: AMB Crypto

Bitfinex changes Bitcoin Cash ticker symbol back to BCH

Bitfinex, currently the most controversial exchange in the cryptocurrency space, changed the Bitcoin Cash ticker symbol on its platform. The ticker symbol, which was changed to BAB following the events surrounding the coin during its hard fork, was changed back to BCH. This move by Bitfinex was quickly noticed by several members in the Bitcoin Cash community, who later prompted other exchanges such as Poloniex and Binance to follow its lead.

After years of smallblock-biased market manipulation, Bitfinex has finally changed the ticker symbol for Bitcoin Cash from the intentionally confusing and derogatory “BAB” to “BCH”. It *only* required the NYAG, DOJ, CFTC to investigate them for fraud first https://t.co/3bJ2ZcZzsM pic.twitter.com/4cs0O9H1yG
— Olivier Janssens (@olivierjanss) May 1, 2019

Source: Bitfinex
In November 2018, the Bitcoin Cash [BCH] community divided into two as there were two upgrades that were promoted by prominent influencers, resulting in a hash war. One part of the community was in favor of the changes proposed by the ABC developers, while the other supported the upgrade promoted by Craig Wright and the Coingeek team, Satoshi Vision.
During this period, Bitfinex introduced new Chain Split Tokens to maintain a healthy market and prevent manipulation, thereby resulting in the introduction of BAB and BSV ticker symbol.
gotmd, a Redditor, said,

“This was done out of desperation. They haven’t even announced the change, which they clearly would have done if they ever had legitimate concerns about “confusion”. These people are scammers and frauds. Do not send them any money.”

effgee, another Redditor, said,

“Bitfinex has a lot of hate, and truthfully tether has been both good and bad for the space. But as an exchange, for me, they have the only interface worth trading with. It will be sad if they collapse. I literally can’t stand to trade elsewhere.”

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Source: AMB Crypto

EOS and Tron surpass Ethereum in terms of DApps in Q1 of 2019

Ethereum was in the spotlight again after a new report by Hard Fork gave an insight into the major events surrounding the platform in Q1 of 2019, and the events slated for Q2.
Notably, the report revealed that in Q1, out of the top 50 decentralized applications in the space on Dapp radar, only three projects were built on Ethereum, with 26 built on EOS and the rest on Tron. The reason for developers to opt for EOS and Tron over Ethereum was reported to be its scaling problems, which Ethereum is planning to resolve by migrating to Proof-of-Stake from Proof-of-Work.
Apart from this, the report also stated that the other prominent event was the Constantinople hard fork, which was delayed in the beginning of January 2019, due to a security issue pointed out at the last minute.
The Hard Fork round-up stated,
“Had the update happened, the vulnerability would have allowed attackers to exploit smart contracts to steal funds from them by interacting with the contract numerous times.”
Further, the report also spoke about Ethereum’s governance, which was also a trending subject in the community considering the fact that one of the developers, Lane Rettig, remarked that Ethereum’s governance “had failed.” It stated that “some parts of the community claim that its direction and development is being controlled by a small group of developers, locking out the opportunity for everyone’s voices to be heard.”
The report further added,
“It might sound like Ethereum is on a knife-edge going into Q2. But given how well it weathered the bear market and how stable its price was for the first half of Q1, it seems to be resilient in the face of recent challenges.”
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Source: AMB Crypto

Binance prepares to launch margin trading for Bitcoin, Ethereum, XRP, Tron, and Binance Coin?

Binance, one of the largest cryptocurrency exchanges across the globe, has enabled margin trading flag on its platform, according to a Reddit post. Notably, this is not the first time Binance has been in the spotlight for news surrounding margin trading. A month ago, a programmer pointed on Reddit that the exchange was considering opening its doors to margin trading as they updated an Application Programming Interface [API].
Lifofifo, a Redditor, stated that Binance has enabled the margin trading flag for nine trading pairs. This includes: Bitcoin/ Tether, Binance Coin/ Bitcoin, Binance Coin/ Tether, Ethereum/ Bitcoin, Ethereum/ Tether, Tron/ Bitcoin, Tron/ Tether, XRP/ Bitcoin, and XRP/ Tether.
The user stated,
“Remember this post over a month ago? Research: Margin trading features found on Binance API. I took another look today and found that the isMarginTradingAllowed flag is now enabled for the following 9 pairs […] Perhaps, a sign that the margin trading is coming soon to Binance.”
Source: Binance API
Margin Trading refers to trading with borrowed money, where the user can participate in cryptocurrency trading with borrowed money/ leverage. Nevertheless, the borrower will have to pay some interest to the lender based on the funds borrowed.
An earlier Reddit post by Enriquejr on the same subject stated,
“However, API calls confirm that recently Binance has silently included two extra booleans between “icebergAllowed” and “filters”. This change has not been reflected on the documentation. However, this API update implies that Binance is considering the implementation of margin trading features.”
When this speculation spread across the cryptoverse in March 2019, Binance’s CEO Changpeang Zhao gave an insight into the matter, stating, “We future proof our API framework as part of our system upgrades. No dates”
@dunkvolvo, a Twitterati said,
“Dangerous for the un-initiated, a fast way to lose a lot. It will be interesting to see if there’s an effect on coin pricing. I notice LTC is not in the list, so that would be the one to watch as a control for this experiment.”
ILikeToSayHi, a Reddit user said,
“Oh boy this is going to be legendary. Soooo many altcoin liquidations are coming”
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Source: AMB Crypto

Bitcoin [BTC] is this generation’s gold and it will be a huge success, says Grayscale CEO Barry Silbert

Barry Silbert, the founder of Digital Currency Group and CEO of Grayscale Investments, spoke about the #DropGold nation-wide ad campaign launched by Grayscale, in an interview with Yahoo Finance. He also elucidated the agenda of the initiative and the reason behind comparing it to gold.
During the interview, Silbert was asked about the campaign‘s focus, whether the best way to attract new investors to invest in Bitcoin [BTC] and other digital currency was by targetting millennials. To this, he stated that one of the main objectives was to “start an honest conversation” about gold and the reasons it may not be a “great investment” in the long-run. While the other was to point the reasons behind why Bitcoin would outperform gold, “as our generation of investors inherits 10’s of trillions of dollars of the next 25 years […] it’s not going to stay in gold,” he stated. Further, the CEO remarked that all of that money would probably not go into Bitcoin, but it would be a beneficiary.
On Bitcoin being classified as digital gold, he stated,
“Bitcoin is nothing ever more than just our generation’s version of gold. It’ll be a huge success and it will deliver great benefits to society and I do think it can also be a payment rail, it can also do a lot of other things. But if it’s just another better version of an $8 trillion asset class, great!”
Silbert also spoke about the price of Bitcoin, which witnessed a significant drop throughout 2018 as it slumped from $20,000 to nearly $3000, amounting to an 80 percent drop. He said,
“Bitcoin’s been through 5 cycles now of record highs, down 80%, a record high… And our belief is you know is we’re out of that crypto winter and at what point do we hit all-time high is I don’t know, but relative to gold.”

Highlight: “We are out of that crypto winter,” says Digital Currency Group Founder and CEO @barrysilbert on cryptocurrency investments. “At what point do we hit all-time highs? — I don’t know.” Full interview: pic.twitter.com/hnSBvBNAoq
— Yahoo Finance (@YahooFinance) May 1, 2019

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Source: AMB Crypto

Cryptocurrency market forecasts Ethereum to be as volatile as Bitcoin over next 6 months, claims Skew Markets

Bitcoin [BTC] and other cryptocurrencies in the market have been on a roller coaster ride this month, with several coins recording significant growth, when compared to the beginning of the year. One of the most significant events of the year was Bitcoin, the largest cryptocurrency, breaching the $5000 mark. Skew Markets, a data analytics platform, released a report on April’s events, pertaining to the cryptocurrency market on Twitter.
The tweet read,
“Healthy dispersion of returns: Large cap top 3: BCH +51%, BTC +26%, BNB +24% Large cap bottom 3: BSV -17%, ONT -18%, MKR -25% Strong month overall with BTC leading into Consensus. Worth noting, ETH is having a timid year, +11% this month, +17% YtD”
Source: Skew Markets | Twitter
According to Skew Markets, the two main events pertaining to the trading of Bitcoin [BTC] and other cryptocurrencies were the short squeeze, and the NY AG Bitfinex/ Tether investigation.

Further, Skew Markets also reported that the realized volatility of the Bitcoin market for the month was 71 percent, approx. to 3.73 percent average daily volatility. While the one-month realized volatility of Ethereum was 80 percent, the daily average recorded was 4.21 percent. It stated, “One 20% move at the start of the month and then very little leads to an average month in terms of bitcoin volatility.”
Source: Skew Markets | Twitter

11/. Worth noting the ETH / BTC six months implied spread is trading at nearly flat which seems to be a function of poor liquidity on the ether options side.
Market currently sees ETH as volatile as BTC over the next six months. pic.twitter.com/HgbJyGgCvL
— skew (@skew_markets) April 30, 2019

Further, the analytics platform stated that the cryptocurrency market took the news that Tether was not completely backed by reserves “reasonably well,” adding that USD Coin [USDC], TrueUSD [TUSD] and Paxos [PAX] were “benefiting marginally.”
Source: Skew Markets | Twitter
On the DiFi side of the space, the report stated that DAI, a leading stablecoin, found it difficult to maintain its 1 DAI = 1 USD pegging, mainly due to rising concerns surrounding the sustainability of the stabilization mechanism. Skew Markets stated, “Not a good month overall for Maker Dao after a great run!”
The post Cryptocurrency market forecasts Ethereum to be as volatile as Bitcoin over next 6 months, claims Skew Markets appeared first on AMBCrypto.
Source: AMB Crypto