Is the Future of Blockchain Tech Innovation in the East?

China, South Korea or India: Who will replace the U.S. as the world’s tech leader?


Source: Cointelegraph.com
Original Post: Is the Future of Blockchain Tech Innovation in the East?

South Korean Crypto Wallet BitBerry Calls it Quits

South Korea Crypto

Popular South Korean crypto wallet, Bitberry, is closing down soon. The CEO of Bitberry’s parent company cited “market deterioration and uncertainty in the blockchain industry” as the reason for discontinuing the app.

Bitberry falls victim to the bear market blues
South Korean cryptocurrency wallet app, BitBerry, is closing down for good on the 29th of February, 2020 at 3:00pm. According to a local outlet, all support for the app will be terminated.
Bitberry gained significant traction among the crypto community because it allowed users to sign in with a Kakao talk ID.
Kakao Talk is one of the most popular messenger apps in S. Korea, and BitBerry simplified the complexities of sending and receiving coins and allowed users to receive crypto payments to a mobile number.

BitBerry was owned by parent company Root One Soft, who’s CEO Jang Sung-hoon issued a statement on the closure:
We decided to close the business due to the market deterioration and uncertainty of the blockchain industry.
BitBerry ran into financial struggles during the crypto winter, two-year bear market that began in December of 2017. The company had trouble restructuring, and decided to close up shop.
BitBerry was in discussions with Lambda 256, the research arm of Dunamu. Dunamu was also the company behind Upbit, South Korea’s largest cryptocurrency exchange. These talks however, have now ceased due to BitBerry’s closure.
The crypto winter caused massive industry layoffs, many startups closed
The fallout from the crypto winter is still being felt now, as evidenced by Bitberry’s closure. The South Korean crypto markets have been hit especially hard. Business Korea reported that 97% of Korean crypto exchanges were close to insolvency and bankruptcy.
Korea once had one of the highest rates of crypto adoption, one of the leading cryptocurrency markets, and a high rate of blockchain investment and startups. The South Korean government has been a leader in blockchain friendly regulation, and the nation’s military is even adopting a blockchain ID and authentication system.
The South Korean market wasn’t the only market hit hard by crypto winter. Consensys, Circle, Coinfloor and Steemit all had substantial layoffs. Some of these companies laid off 50% or more of their staff.
Many blockchain projects have laid off employees or shut down also. Lisk’s parent company Light Curve laid-off almost half of their staff also.

Since the cat is out the bag: We decided to shut down TruStory and return the investor money.
Why?
TLDR; We came to the conclusion that TruStory is too early to market. The market is not big enough (yet) for what we want to build.
— Preethi Kasireddy (@iam_preethi) January 30, 2020

Most recently, True Story, a blockchain to fight fake news led by Preethi Kasireddy, also shut down and returned the capital they raised to investors. They also cited uncertainty in the market.
We may still see startups and blockchain projects close their doors due to the market uncertainty that forced Bitberry to close down. Only time will tell.
What do you think about BitBerry’s closure? Let us know in the comments!

Images via Shutterstock, Twitter @iam_preethi @ The post appeared first on Bitcoinist.com.
Source: Bitcoinist.com
Original Post: South Korean Crypto Wallet BitBerry Calls it Quits

Rising BTC Price, Justin Sun’s Harassment Suit, and More on the Bad Crypto Podcast

You can also get your crypto news in audio format via the Bad Crypto Podcast. Here’s what happened on the latest episode


Source: Cointelegraph.com
Original Post: Rising BTC Price, Justin Sun’s Harassment Suit, and More on the Bad Crypto Podcast

Ethereum Dev Virgil Griffith Pleads Not Guilty in North Korea Case

Virgil Griffith

Former Ethereum developer Virgil Griffith has pleaded not guilty to conspiracy charges filed against him by the US Attorney’s office in relation to a speech he gave at a blockchain conference in North Korea in April 2019.

Griffith was arrested on Thanksgiving at Los Angeles International Airport after the FBI alleged that he breached the International Emergency Economic Powers Act (IEEPA) in traveling to North Korea without authorization and providing knowledge on how the country can utilize blockchain technology to launder money and evade sanctions. Earlier this month, the former Ethereum employee was indicted by Grand ...

Read The Full Article On CryptoCurrencyNews.com

Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges.

All content provided by Crypto Currency News is subject to our Terms Of Use and Disclaimer.


Source: Cryptocurrency News
Original Post: Ethereum Dev Virgil Griffith Pleads Not Guilty in North Korea Case

Everything Wrong With The Cannabis Industry: Investors Beware

Why didn't the cannabis industry take off as many predicted? Is it now the time to invest in marijuana stocks and avoid like the plague?

The post Everything Wrong With The Cannabis Industry: Investors Beware appeared first on CCN.com


Source: CCN.com
Original Post: Everything Wrong With The Cannabis Industry: Investors Beware

Litecoin Closing Above This Key Level Will Make it a “Screaming Buy”

Litecoin has seen some incredibly bullish price action over the past week, with the cryptocurrency rallying from seven-day lows of $53 to highs of $70. Although LTC faced some resistance at this level, its market structure is clearly growing increasingly bullish.
After setting these fresh 2020 highs of $70 yesterday, the cryptocurrency has only retraced slightly, which comes as the aggregated crypto markets are facing a steep ongoing selloff.
In the near-term, it does appear that Litecoin is on the cusp of closing above a key technical level that could catalyze its next major bull movement, which means the coming few days could elucidate its mid-term trend.
Litecoin Hovers Just Below Year-to-Date Highs as Crypto Markets Face Steep Selloff 
At the time of writing, Litecoin is trading up nearly 5% at its current price of $67, which marks a climb from daily lows of $63, and a slight decline from highs of just under $70.
Currently, LTC is one of the only major altcoins that is trading up over a 24-hour period, signaling that it currently has greater technical strength than many alternative digital assets.
In the near-term, it does appear that the cryptocurrency could be on the cusp of going on a short-term parabolic rally, as it is currently attempting to confirm a bullish Ichimoku and a daily close above its 200-day moving average.
TraderSmokey – a well-respected crypto trader on Twitter – spoke about the importance of these aforementioned technical formations in a recent tweet, while referencing a chart showing that this confluence of bullish technical factors has historically allowed LTC to incur parabolic rallies.
“Litecoin Daily: Criteria: Bullish Ichimoku + Daily Close above 200MA,” he explained while referencing the chart seen below.

$LTC
Litecoin Daily
Criteria: Bullish Ichimoku + Daily Close above 200MA pic.twitter.com/c9zhlUB0td
— TraderSmokey (@SmokeyXBT) January 31, 2020

LTC is a “Screaming Buy” If It Holds Above This Key Level
Because Litecoin’s bulls do appear to be particularly strong at the moment, it is possible that they will catalyze enough near-term buying pressure to propel it past its year-to-date highs of $70.
It is also important to note that LTC could soon close above 0.0069 BTC, as today’s Bitcoin drop led LTC’s BTC trading pair to rocket up to 0.0072.
Ledger Status – another prominent technical analyst – noted in a tweet from yesterday that a sustained close above 0.0069 BTC would make Litecoin a “screaming buy.”
“Litecoin is an absolutely screaming buy above .0069 daily close.”

Litecoin is an absolutely screaming buy above .0069 daily close. $ltc pic.twitter.com/PS2vnGDudU
— Ledger Status (@ledgerstatus) January 30, 2020

If the cryptocurrency is able to stabilize around its current price levels or even inch higher today, it could soon see a massive upwards swing that allows its uptrend to turn parabolic.
Featured image from Shutterstock. The post appeared first on NewsBTC.
Source: News BTC
Original Post: Litecoin Closing Above This Key Level Will Make it a “Screaming Buy”

Italy: AS Roma Partners DLT-Based Digital Trading Card App Sorare

According to a report by Insider Sport published on January 30, 2020, Italian Serie A football club AS Roma has inked a deal with blockchain-based digital trading card app Sorare for better fan engagement. AS Roma Enters the Blockchain Race Following moves of several other rival football clubs, Italian football club AS Roma has now

Read MoreRead More. The post by Aisshwarya Tiwari appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News
Source: BTCManager.com
Original Post: Italy: AS Roma Partners DLT-Based Digital Trading Card App Sorare

Fewer Pronouncements of BTC's Death in 2019, but Here Are the Top 5

The number of Bitcoin obituaries has declined drastically in 2019 — Cointelegraph looks at the top 5 Bitcoin “burials” of the year


Source: Cointelegraph.com
Original Post: Fewer Pronouncements of BTC's Death in 2019, but Here Are the Top 5

BitFlyer Now Offers US Users 0% Fees When Buying Bitcoin With USD

U.S. residents now have one more option to buy Bitcoin with USD through bitFlyer’s zero-fee BTC/USD trading pair campaign


Source: Cointelegraph.com
Original Post: BitFlyer Now Offers US Users 0% Fees When Buying Bitcoin With USD

Meghan Markle’s Evil Plan to Be a ‘Hollywood Royal’ Is Almost Complete

As she prepares to move to Los Angeles with Prince Harry, Meghan Markle's scheme to become Hollywood royalty is finally complete.

The post Meghan Markle’s Evil Plan to Be a ‘Hollywood Royal’ Is Almost Complete appeared first on CCN.com


Source: CCN.com
Original Post: Meghan Markle’s Evil Plan to Be a ‘Hollywood Royal’ Is Almost Complete

Bitcoin SV Volume is Heavily Manipulated, Data Finds

bitcoin sv wash trading

Timothy Peterson, CFA at Cane Island Alternative Advisors, tweeted about Coinmetrics’ recent findings on Bitcoin SV (BSV) transactions, which show extremely high levels of wash trading.

Bitcoin Satoshi’s Vision, or Bitcoin Scam Version?

Bitcoin SV, the cryptocurrency led by self-proclaimed Satoshi, Craig Wright, seems to have heavily manipulated transaction data, according to a report by Coinmetrics. Bitcoin SV has been controversial since its inception, not only because it was created as a contentious fork which caused a messy split of the Bitcoin Cash (BCH) blockchain, but also because of the involvement of Craig Wright and Calvin Ayer with the project.
Looking at the data, Timothy Peterson noted that the average transaction amount on the BSV chain is smaller than 1/10th of a cent. Furthermore, the network currently reports that it handles around 700,000 transactions of these extremely small transactions each day.

(1/2) The median (middle) transaction value for $BSV is less than 1/10 of one cent. This is an economically meaningless value. Txns have soared to 700k/day, meaning there are hundreds of thousands of fractional cent txns being processed daily…. pic.twitter.com/URIEYZBWSz
— Timothy Peterson (@nsquaredcrypto) January 31, 2020

 
This can lead to only two conclusions, either BSV is being used to process almost a million micro-payments every day, which eclipses the volume of the Lightning Network, or the volume is being spoofed by trading bots to fake activity. Seeing that there are only 40,652 active BSV wallet addresses, it’s highly unlikely that these transactions are genuine.

(2/2) Only explanation is automated wash trades to inflate $BSV stats and pump price. This is what price manipulation looks like. Data: @coinmetrics. cc: @Bitfinexed
— Timothy Peterson (@nsquaredcrypto) January 31, 2020

Do People Even Use BSV?
Craig Wright has claimed to be the anonymous creator of Bitcoin, Satoshi Nakamoto, for years but has been called out many times. He has been unable to provide conclusive proof to substantiate his claims, and much of the proof he has provided has been completely discredited.

Confirmed: Craig Wright doesn’t have keys to $8 billion of Bitcoin (via @decryptmedia) https://t.co/orkv9yNsjd
— Dan Hedl (@danheld) January 17, 2020

With new data hinting that transactions are being faked on the BSV chain, it calls into question just how much usage the chain actually has, if any at all. Most of the onchain transactions on BSV come from a single weather app, with as much of 96% of transactions being from this one app.
Bitcoin SV claims to have a lot of different apps, but it seems that only the weather app is being used at all. Even the weather app’s purported usage is spurious, detractors say it’s just taking data from a weather data site and writing it on the BSV blockchain. It’s not that Bitcoin SV users are obsessed with the weather, and using the app constantly to check the forecast.

Yes I agree BSV can be useful as a kind of minimum level of intelligence test. But I think you are one of those that failed it😁
— Andrea Chiavazza🇪🇺🇵🇸🇮🇷 (@ndrchvzz) November 24, 2019

Bitcoin SV has been jokingly called an intelligence test by the rest of the crypto community because of the poor reputations of its main supporters, the controversy surrounding Craig Wright’s claims to be the creator of Bitcoin, and because of the strange data surrounding BSV transactions.
Do you think BSV is spoofing it’s transaction data? Let us know in the comments!

Images via Shutterstock, Twitter @ndrchvzz @danheld @nsquaredcrypto, charts by Coinmetrics The post appeared first on Bitcoinist.com.
Source: Bitcoinist.com
Original Post: Bitcoin SV Volume is Heavily Manipulated, Data Finds

Crypto Exchange Zebpay Reopens in India Despite Banking Ban

Singapore’s Zebpay crypto trading platform reopens to Indian customers despite central bank crypto ban


Source: Cointelegraph.com
Original Post: Crypto Exchange Zebpay Reopens in India Despite Banking Ban

Bitcoin Economy Will Hit $8,000,000,000,000 in the Next Decade, Predicts Wealth Manager Andy Edstrom

One of the first wealth managers to recognize Bitcoin’s potential says he believes the top cryptocurrency will likely reach an $8 trillion market cap.

In a new interview on the Citizen Bitcoin podcast, Andy Edstrom of the California-based investment advisory firm WESCAP Group says a long list of factors may boost Bitcoin (BTC) over the next 10 years. These factors include a fear of missing out on the part of speculators, geopolitical events, the devaluation of fiat currency and catalysts from banks and central governments that create a tipping point and a “speculative attack” on fiat.

“When I set the upside case from an investment point of view, I take a 10-year view. And I think the total valuation on 10 years that I use is about $8 trillion and that comes from various buckets, whether it’s taking share from gold, or taking share from fiat, or taking share from offshore assets, or slightly demonetizing other stores of value like real estate or new uses that we haven’t thought of or are still under construction.

Whether it’s micropayments or things enabled by Lightning, or it’s Abra or similar systems whereby you can get synthetic exposure to any asset in the world just by holding Bitcoin as collateral. So there’s all these areas of upside.”

Edstrom says the fact that Fidelity and Intercontinental Exchange, the parent company of the New York Stock Exchange, are offering Bitcoin exposure to their institutional clients has legitimized BTC in a way that smaller cryptocurrency companies could never do.

“If I step across the table back to the dark side where I came from, from the financial establishment, I could care less whether a company named Xapo or a company named BitGo has “qualified custody”. I start to care when Fidelity and the New York Stock Exchange’s parent company are real. So that is, definitely in my mind, a shift. So that’s one thing.

Another factor, of course, is price, as you point out. When we take out the previous all-time high, when we’re back above $20k, that’s going to be a catalyst that some people who aren’t paying attention now will pay attention to. A decade of the best-performing asset, that came out in 2019, is important. I think the excuses for ignoring it are falling away with time.”

When asked how he explains Bitcoin to his clients, Edstrom says he walks them through his vision of what the future looks like if Bitcoin continues to outperform other asset classes and shatters its all-time high.

“One thing I sometimes like to do is invert it. I say, look forward into the future. It’s 2022 or something. And Bitcoin has already plowed through six figures on price. And I’m imagining my conversation with my client and my client is saying, ‘Ok, do we own any Bitcoin?’ No we don’t own any Bitcoin. ‘Oh. So a few years ago it was the best performing asset of the decade right?’ Ya that’s true. ‘And it was uncorrelated to other assets, right? It had less than 0.2 correlation to the US stock market, foreign developed stock markets, emerging markets, bonds as measured by the Barclays index, gold.’ Ya that’s right, it was not correlated. ‘And the total addressable market was in the tens of trillions of dollars, correct?’ Ya that’s correct. ‘And it was investable right? There were instruments in the market that you could buy. You could buy this in my account right?’ Ya that’s true. ‘So what am I paying you for?'”



Check Latest News Headlines

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Patila

The post Bitcoin Economy Will Hit $8,000,000,000,000 in the Next Decade, Predicts Wealth Manager Andy Edstrom appeared first on The Daily Hodl.


Source: Daily HODL
Original Post: Bitcoin Economy Will Hit ,000,000,000,000 in the Next Decade, Predicts Wealth Manager Andy Edstrom

USDT Moves Every Eight Days on Average, Data Shows

Recent data shows each USDT does not sit in one place for too long, moving locations every eight days, on average


Source: Cointelegraph.com
Original Post: USDT Moves Every Eight Days on Average, Data Shows

Cardano Up 47% in 2020, But Does Blockchain’s Usage Warrant it?

Like many crypto assets, the price of Cardano (ADA) has increased over the opening month of 2020. Starting the year at around $0.033, the digital currrency now trades at more than $0.054.
Although the same could be said about many of the thousands of other digital currencies, the gains do not appear to be based on actual usage. In fact, a look at the Cardano blockchain shows that very few people are using the cryptocurrency at all.
Cardano Clearly a Long Way from Mass Adoption
According to data taken from its blockchain, hardly anyone is using Cardano. The tenth most popular crypto asset in terms of market capitalisation routinely sees blocks that are completely empty. When they’re not empty, they contain just a handful of transactions.
Pointing this out is software developer Joshua Henslee. Henslee tweeted the following yesterday:

#Cardano has more 'blocks' than transactions….https://t.co/TG7TmplCNt
— Joshua Henslee (@cryptoAcorns) January 30, 2020

A look at Cardano’s blockchain, via Blockchair.com, confirms the lack of network use. At the time of writing, 66 of the last 100 blocks contained no transactions whatsoever.
Other blocks contain only one or two transactions. None of the previous 100 blocks NewsBTC looked at on the network’s official explorer contained more than 10 transactions.
This has resulted in a situation where those mining ADA have added more blocks than the total number of transactions. At press time, there had been only 3,057 transactions over a total of 4,320 blocks.
Evidently, actual use of Cardano is incredibly low.
Will Upgrades and Partnerships Help Promote Adoption?
Although the number of transactions occurring on the Cardano network is cause for concern, upcoming developments for the network may promote greater use going forward. As NewsBTC reported days ago, Cardano founder Charles Hoskinson just announced a major partnership with accountancy giant PwC.
The partnership is part of a marketing drive by those behind the cryptocurrency. The aim is to promote the blockchain system as one suitable for deployment by commercial interests.
Related to this are upgrades in the works to move the network to a proof-of-stake system and to add smart contract functionality. These updates, along with efforts to consolidate operations with the help of PwC, may indeed see the network experience greater use than it does at present.
Clearly, the price action for Cardano so far in 2020 is based entirely off speculation for what the system might achieve in the future. The on-chain data above shows that the network is seeing very little actual use that might drive price right now.
Whilst the markets of most cryptocurrencies are heavily based on speculation, most top ten digital assets do actually see some use. Bitcoin, for example, is emerging as a store of value for billions of dollars, Ethereum has a rapidly expanding DeFi ecosystem, and even Bitcoin SV has that weather application its proponents are so impressed by.
 
Related Reading: Last Year’s Top Crypto Market Performers Are Lagging Behind Altcoins in 2020
Featured Image from Shutterstock. The post appeared first on NewsBTC.
Source: News BTC
Original Post: Cardano Up 47% in 2020, But Does Blockchain’s Usage Warrant it?

Here’s How The Ethereum (ETH) Bubble Could Pop

Ethereum (ETH) rallied again yesterday and stopped just shy of $190. This was a pretty aggressive move which has a lot of people thinking about the beginning of a new bullish cycle now just like they did in April, 2018. The weekly chart for ETH/USD shows that Ethereum (ETH) had just rallied after finding a temporary bottom back then which led many traders into thinking that a new bullish cycle may be just around the corner. However, that is not what happened and the price started to crash almost 90% from there. We are now at a similar point where the price has just rallied from a temporary bottom and everyone is talking about the beginning of a new bullish cycle. 

If we do not see a new bullish cycle, we might be looking at a new bear trend that could pull the price of Ethereum (ETH) down to double digits. Previously, I have mentioned targets of $60 and $50 but this time I want to talk about a number that is important to keep in mind and that is $14. That is when Ethereum (ETH) began the 2017 rally and shot up astronomically to its all-time high. Now that Bitcoin dominance (BTC.D) is eyeing a reversion to pre 2017 levels, we expect a similar reversion in the rest of the market and therefore ETH/USD might end up falling a lot lower than I previously expected. This would be the way the bubble truly pops because I don’t think the bubble has popped just yet. It will most likely coincide with a similar move in the S&P 500 (SPX) and a gloomy outlook of global financial markets. 

Ethereum (ETH) also risks losing significant ground against Bitcoin (BTC). It has already given up most of its gains against Bitcoin (BTC) but it is far from over just yet. If and when the next downtrend begins, we would expect ETH/BTC to decline much lower. It already remains below the 200-day moving average and is primed for further downside once we have a clear break below the symmetrical triangle that it is currently trading in. 

This would be a period where we could see the altcoin market experience serious pain. The daily chart for ETH/BTC also shows that Ethereum (ETH) has struggled but failed to break above the symmetrical triangle as well as the 200-day moving average. As Bitcoin halving nears, even under the bullish case investors would be more inclined to get out of altcoins and FOMO into Bitcoin (BTC). This alone would be devastating for Ethereum (ETH) as well as the rest of the market and would be one of the key catalysts leading to the bubble being popped. 


Source: CryptoDaily.co.uk
Original Post: Here’s How The Ethereum (ETH) Bubble Could Pop

Europe’s First Crypto License Issuer Warns of New Unregistered Crypto Firm

Luxembourg financial watchdog CSSF warns against a crypto firm claiming to be headquartered in the country


Source: Cointelegraph.com
Original Post: Europe’s First Crypto License Issuer Warns of New Unregistered Crypto Firm

Options Growth Will Ignite Innovation in the Bitcoin Market – But Not in the Way You Think

Richard Rosenblum, co-founder of GSR, points out the lackluster growth in listed options hides the real action taking place in OTC hedges.
Source: Coindesk
Original Post: Options Growth Will Ignite Innovation in the Bitcoin Market – But Not in the Way You Think

These Are the Most Traded Tokens on Decentralized Exchanges Right Now

These Are the Most Traded Tokens on Decentralized Exchanges Right Now

The decentralized exchange landscape is evolving fast, with new liquidity aggregators and relays enhancing usability while reducing slippage. Trade volumes are also strong across the leading ERC20 DEXs and Binance DEX. The bulk of this volume is captured by a small proportion of tokens, however, whose demand augurs well for the projects and the DEXs they dominate.

Also read: Ethereum’s Value Transfer Is Now Dominated by Stablecoins

Verasity Is Binance’s King of the DEXs

On Binance DEX, the decentralized exchange that operates on the eponymous Binance Chain, verasity (VRA) is out in front, with 19% of all trades. Verasity is an attention-based video and gaming platform that enables content creators to earn tokenized rewards. Rather than trying to create a crypto-friendly Youtube, a la Dlive, Verasity is designed to integrate into existing platforms such as Twitch, Youtube, and Vimeo.

These Are the Most Traded Tokens on Decentralized Exchanges Right Now

Behind the scenes, Verasity has been busy, gaining an entry into Asia’s lucrative streaming market through a partnership with Jun Capital, while a token burn has seen 17% of VRA’s supply removed from circulation. In Q4 2019, the project reported a 20x increase in videos viewed and a 10x increase in wallet registrations. VRA is currently listed on six exchanges, with the volume on Binance DEX exceeded only by that on Hitbtc.

Stablecoins Dominate Kyber Network

In keeping with Ethereum’s evolution into a stablecoin network, the most traded coins on Kyber’s DEX are all dollar-pegged assets. The most popular of these is multi-collateral dai ($890K 24-hour volume), USDT ($384K), and USDC ($282K). This is followed by wrapped bitcoin (WBTC) and wrapped eth (WETH), with link the leading altcoin on Kyber, with $147K in trades. Kyber Swap – the token swapping platform created by Kyber Network – has processed over $500M of trades since launching, and in December added support for Ethereum Name Service (ENS) token transfers.

These Are the Most Traded Tokens on Decentralized Exchanges Right Now

Maker and Augur Are Uniswap Favorites

On Ethereum token exchange protocol Uniswap, dai is the most traded currency ($420K), followed by Maker’s MKR governance token ($204K), Augur’s REP ($183K), and synthetix (SNX, $165K). Fifth and sixth spot are taken by stablecoins – SAI and USDC – before HEX makes an appearance at seventh with $115K in volume.

These Are the Most Traded Tokens on Decentralized Exchanges Right Now

Unibright Tops the IDEX Charts

IDEX, the leading decentralized exchange for years, lost ground when it introduced KYC. The exchange nevertheless maintains a lead over its Ethereum counterparts, recording 24-hour volume of $738K. The leading token by far is unibright (UBT) with $264K. The token is up 55% in 24 hours, which accounts for its high trading volume, which has surpassed $1 million across all exchanges.

Unibright is an enterprise-oriented blockchain project that’s focused on helping businesses integrate tokenization and distributed ledger technology. It’s unclear why the UBT token has spiked in value, though speculative trading is the likeliest cause.

These Are the Most Traded Tokens on Decentralized Exchanges Right Now

Uniswap and Token Aggregators Make Gains

Crypto Differ has published data showing that Uniswap was the biggest winner in December, increasing its volume by 33% and its traffic by 29%, while other Ethereum DEXs, save for IDEX, lost market share. Conventional Ethereum DEXs are also losing ground to token aggregators, which achieve the best rate for buyers by splitting orders across multiple DEXs in a single transaction. 1inch exchange is the leader here, seeing its volume increase 50% to $15M this month. It’s followed by DX.ag and Totle, the trio handling $1.7M in weekly volume.

Decentralized exchanges still account for only a fraction of crypto trading, but the rate of innovation and ecosystem growth augur well. On Jan. 28, 0x launched its own liquidity aggregator, combining the order books of Kyber Network, Uniswap, and Oasis. As user experience and liquidity improve, and the defi movement gathers pace, DEXs can expect to break new records this year, even if they won’t be challenging CEXs anytime soon.

Do you trade on DEXs? If so, which platforms do you recommend? Let us know in the comments section below.


Images courtesy of Shutterstock and Crypto Differ.


Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry.

The post These Are the Most Traded Tokens on Decentralized Exchanges Right Now appeared first on Bitcoin News.


Source: Bitcoin.com
Original Post: These Are the Most Traded Tokens on Decentralized Exchanges Right Now

Bitcoin Outperforms As Dow Plunges 600 Points, Coronavirus Scare Impacts Travel

Global growth concerns fueled by earnings reports and ongoing worries about the coronavirus epidemic contributed to a stock market sell-off on Friday that pushed the Dow Jones Industrial Average down 603 points, or 2.1%, to close at 28,256.

Investors dumped equities and tapped into potential safe haven assets such as Bitcoin and gold in a bid to outmaneuver market uncertainty and China’s latest fears about the impact of the coronavirus on trade and travel.

The Dow is now down 3% since last Friday when it closed at 29,160.

Bitcoin rose to $9,551 on Thursday, marking a fresh high for the year. The asset is now trading at $9,301, up from $8502 since last Friday, with Fundstrat Global Advisors head researcher, Tom Lee, speculating that the digital currency will prove itself as a strong hedge against traditional assets.

China’s big economic blow is in motion, with an estimate from CNN pinning the figure at a $60-billion loss for the quarter. Russia, China’s biggest trade partner, has already shut its border to restrict people from traveling and the Chinese government has placed a temporary ban on wildlife trade.

On Thursday, India reported its first case of the virus as the US reported its first case of person-to-person transmission. The UK and Russia confirmed their first cases on Friday.

Speaking at a news conference at the WHO’s Geneva headquarters on Thursday, director-general Tedros Adhanom Ghebreyesus said the previously unknown pathogen has “escalated into an unprecedented outbreak.” Travel warnings have prohibited Delta, United and American Airlines flights to China as the World Health Organization declares the outbreak a “global health emergency”.

According to the Johns Hopkins real-time data tracker, the death toll has risen to 222, with 213 confirmed recovered and 9,925 now infected.

The US travel ban is expected to widen to six additional countries, reports CNN.

Check Latest News Headlines

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Dima Moroz

The post Bitcoin Outperforms As Dow Plunges 600 Points, Coronavirus Scare Impacts Travel appeared first on The Daily Hodl.


Source: Daily HODL
Original Post: Bitcoin Outperforms As Dow Plunges 600 Points, Coronavirus Scare Impacts Travel