Ethereum & Ripple (XRP) Plunged, Tron Led Oct. Index

Twitter Facebook LinkedIn The month of October saw many altcoins continue to bleed out in price, with ethereum (ETH) and ripple (XRP) each declining by more than 10 percent. After almost ten months of mostly bearish price action in the cryptocurrency space, there was just one crypto token that managed to tread water in October — tron (TRX). Tron’s [Previously] Volatile Nature Tron’s October stability comes as a bit of a surprise for a coin that is often volatile. Earlier this year, Finder.com conducted a study ranking the top fifty…

Binance Signs Up 40,000 Crypto Traders in Its First Week in Uganda

Despite global market doldrums, demand for cryptocurrency appears to be booming across Uganda, a country where nearly three out of four people don’t have bank accounts. Revealed exclusively to CoinDesk, Binance Uganda signed up 40,000 users in the first week since the world’s largest crypto exchange launched its local subsidiary in October. The early results suggest a strong appetite among unbanked Ugandans for purchasing bitcoin or ether, the two coins the new Binance unit currently lists. According to a paper by Stanford University researchers recently published in the American Economic Journal, 74…

Hong Kong Securities Regulator Promises to Regulate Crypto Investment Funds

The Securities and Futures Commission (SFC) of Hong Kong has claimed that it will include crypto funds under its regulatory umbrella. The SFC issued a statement on November 1, 2018, laying out its new approach for regulating virtual assets in the future. The SFC granted that there are many inherent risks in investing in a new space like cryptoassets and set out to address these risks through new regulatory action. The statement showed a willingness to adapt the existing regulations around investing to conveniently and decisively affect crypto as well,…

Bitcoin Price Intraday Analysis: BTC/USD Recovers amid Vulnerability

Twitter Facebook LinkedIn Bitcoin on Thursday is trending inside a narrow trading channel, sustaining the 1 percent gain it made the previous day. The BTC/USD instrument is rebounding from the highs made during the Wednesday trading session, now 0.67 percent down at 6307-fiat. The high ticks in bitcoin’s volume index somewhat explain how new money has entered the bitcoin space in the past 24 hours. On the other hand, the US Dollar Index was on a downside corrective path on Wednesday, validating investors’ inclination towards redistributing their greenbacks back to…

Coinbase Token Attracts Capital But PAX Leads Trading

Twitter Facebook LinkedIn It’s now been nearly two months since Winklevoss-led cryptocurrency exchange Gemini fired the first shot in the stablecoin wars through the launch of its USD-pegged crypto token, the eponymous Gemini Dollar. That same day, Paxos — like Gemini an NYDFS-regulated firm — made a similar announcement, and before long, crypto unicorns Circle and Coinbase revealed that they had partnered to co-issue a consortium-led, fiat-backed token, USD Coin. These three tokens, along with fellow “regulated” stablecoin TrueUSD (TUSD), which launched earlier in the year, have collectively attracted more…

Bithumb, SeriesOne to Launch Security Token Exchange in the US

South Korean crypto exchange Bithumb has teamed up with crowdfunding platform seriesOne to launch a compliant security token exchange in the U.S. The joint venture was revealed in a press release from seriesOne shared with CoinDesk on Thursday, which adds that the exchange launch is still subject to regulatory approvals from the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). SeriesOne already offers an SEC-regulated platform that supports projects launching initial token offerings, as well as traditional equities and debt offerings. “I believe that our companies will…

EOS Rises 5% as Tokens Record Big Gains, Crypto Market Adds $2 Billion

Twitter Facebook Tokens and several major cryptocurrencies such as EOS have demonstrated strong short-term momentum over the last 24 hours, pushing the valuation of the crypto market to $206 billion. The volume of Bitcoin, which declined to the mid-$3 billion region, recovered to $4.2 billion, showing a clear increase in trading activity across major cryptocurrency exchanges. Affected by the increase in the volume of Bitcoin, tokens and digital assets such as Loom, Status, Bancor, WaltonChain, Pundi X, OmiseGo, and Zcash recorded gains in the range of 8 to 20 percent,…

Op Ed: Bitcoin’s Energy Consumption Is Neither Frivolous Nor Excessive

As the CEO of Hut 8, one of North America’s largest cryptocurrency miners and the world’s largest publicly traded cryptocurrency miner, I’m often asked questions about energy consumption in the mining of cryptocurrency. Unfortunately, there are many misconceptions around energy use and why it’s required to safely and securely transact cryptocurrencies. During our ribbon-cutting ceremony in the City of Medicine Hat in September 2018, a reporter asked me how I felt about something “frivolous” like bitcoin using so much energy. I was taken aback by the question. It indicated a…

Caribbean Examinations Council to Issue Blockchain Certificates to 24,000 Candidates

Twitter Facebook LinkedIn The verification process of educational credentials in the Caribbean will now be faster after the regional examinations body announced it will begin offering blockchain-based certificates and diplomas to selected candidates. In a statement, the Caribbean Examinations Council (CXC) revealed that it will issue blockchain-based academic certificates starting October 31, alongside the traditional paper-based certificates, to 24,000 candidates who sat their exams in May and June this year. This number consists of the candidates who provided the examinations body with their email addresses. The e-certificates will be received…