|Day's Range||10,231.42 - 10,474.64|
|52 Week Range||3,169.53 - 13,826.76|
|Volume (24hr) All Currencies||3.65B|
China’s claim that its cryptocurrency rival to Bitcoin is almost ready for launch has been branded as nonsense by some of the region’s crypto observers. Earlier this week, the deputy director of the People’s Bank of China (PBC) – Mu Changchun – hinted at an event in Beijing that the cryptocurrency was “very close to being out” and that the bank itself would be the issuer of the digital asset. In a Coin Rivet article for the Daily Express, it was reported that the Chinese government has been working on the project on-and-off for nearly five years, despite publicly eschewing Bitcoin and other global cryptocurrencies. The crypto narrative from the political corridors of Beijing has been ramped up in recentThe post Doubts hang over China’s Bitcoin rival boast appeared first on Coin Rivet.
Today the price of Bitcoin is US$$9,918.19; Ethereum is US$182.00; XRP is US$0.260172; Bitcoin Cash is US$303.94 and Litecoin is US$73.65. These are the Top 5 cryptocurrencies by market capitalisation. About the Top 5 cryptocurrencies The top 5 cryptocurrencies are the biggest and most significant cryptocurrencies and constitute the top half of The Top 10 Cryptocurrencies by market capitalisation. Bitcoin In August 2008, the domain name bitcoin.org was registered. On 31st October 2008, a paper was published called “Bitcoin: A Peer-to-Peer Electronic Cash System”. This was authored by Satoshi Nakamoto, the inventor of Bitcoin. To date, no one knows who this person, or people, are. The paper outlined a method of using a P2P network for electronic transactions without “relyingThe post The Top 5 cryptocurrencies latest price appeared first on Coin Rivet.
The U.S. entity of the world’s largest cryptocurrency exchange Binance, is expected to go live before November, but won’t serve New York residents initially.The post Binance US could go live before November, but won’t serve NY residents initially appeared first on The Block.
Coinbase has acquired Xapo's institutional custody business for $55 million, completing a deal that The Block first reported was ongoing in May.The post Coinbase has sealed the acquisition of Xapo's institutional custody service for $55 million appeared first on The Block.
Coinmine, a consumer-facing cryptocurrency mining startup, has raised a fresh new round of funding, according to a statement released on Thursday.The post Coinmine raises $2.5M in seed funding for its plug-and-play mining device appeared first on The Block.
In late 2018, Square Inc (NYSE:SQ) saw its surging stock get flattened, falling over 35% from its all-time high of $101.15. Like many growth stocks, SQ stock bottomed out in December. However, despite delivering a favorable earnings report, the company's stock has still found resistance at the $80 mark.Source: Shutterstock After a second-quarter earnings report, in which the company beat expectations for both revenue and EPS, the stock suffered a sharp sell-off. So What's the Story With Square?One reason for SQ stock's selloff was their announcement that it would sell off Caviar -- its successful food service business unit. Depending on how you do the math, Square either sold Caviar for a tremendous profit, or a tremendous loss, but that's just money.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThis deal gives Square the opportunity to reach more customers. Because of Caviar, Square now processes about 25% of their revenue via food service. And the sale of Caviar integrates Square with DoorDash.The bottom line for Square is that Caviar never seemed like a business they were in for the long haul. How Is Square Expanding Its Ecosystem?Despite selling off Caviar, Square is still very interested in expanding its reach beyond traditional payment processing.The payment processing sector is becoming crowded. Competition will continue to increase as bigger companies seek to enter the space. Square is addressing this issue by building out add-on services such as inventory management, shipping, payroll and lending to make the cost of switching become higher for their existing customers.This is consistent with Square's stated desire to offer services that will allow them to compete with traditional banks. However, one of the most intriguing elements of Stock's strategy to differentiate themselves from an increasingly competitive field has been their embrace of cryptocurrency, in particular bitcoin. Square Is Making a Big Bet on BitcoinAs businesses wrestle with their need to accept bitcoin as a form of payment, Square is clearly trying to establish a leadership position in this space. Investors may struggle to see the role a payment processing company like Square or PayPal (NASDAQ:PYPL) has in the crypto revolution.After all, the whole point of cryptocurrency is its emphasis on security. But as Square's CEO Jack Dorsey said in a 2018 interview, the internet is looking for a native currency to free it from the traditional regulatory and legislative restrictions that can slow down startup companies like Square.The gamble seems to be paying off. In its second-quarter earnings report released on Aug. 1, Square reported its crypto-friendly Cash App made $125 million in revenue from bitcoin, a significant leap from the $65.5 million Square raised from bitcoin in Q1.Not surprisingly, the increase in revenue led to a higher gross profit -- to the tune of $2 million as opposed to $832,000 in Q1.And other companies are taking steps to ensure they have a place at the table. Visa (NYSE:V) and PayPal are actively looking to partner with Facebook on its proposed Libra cryptocurrency. SQ Stock Is Displaying Conflicting FundamentalsA quick review of the fundamentals gives investors a picture of a stock that is sending mixed signals. On the one hand, SQ stock is up nearly 40% from its 52-week low of $49.82. On the other hand, the stock is down over 35% from its 52-week high of $101.15.Square has also seen its consensus rating move from a Buy 30 days ago to a "hold" rating, and has seen its consensus price target dip from $86.80 to $84.69.When you consider that Square is in an increasingly competitive space and has yet to turn a profit, you can understand why investors might be a little concerned about the company's valuation. What Direction Is SQ Stock Headed In?After a favorable earnings report, SQ stock made a move last week that broke a trend of higher highs and higher lows. Some people may worry about how Square will protect its turf while expanding its customer base, particularly after the company abandoned Caviar which was, if nothing else, a cash cow.However, as their Cash App (Square Cash) and other services move it into the individual financial services space, the company has a well-defined ecosystem that gives it the opportunity to reach businesses and customers.In fact, the Cash App has exceeded expectations by growing from $1 million in quarterly revenue to $135 million in quarterly revenue over a three-year period and that doesn't include bitcoin. And with a price target that is setting SQ stock up for a 30% increase from its current level, there looks to be tremendous upside.As of this writing, Chris Markoch did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 15 Growth Stocks to Buy for the Long Haul * 5 More Cloud Stocks With Plenty of Potential * 5 Clean Energy ETFs to Buy for 2019 The post Square Bets Big on Bitcoin appeared first on InvestorPlace.
Fiat-to-crypto exchange Binance Jersey has collaborated with Galaxy Capital-backed institutional trading and portfolio management platform Caspian, aiming to increase trading volumes in Europe.The post Binance Jersey ties up with Galaxy-backed crypto platform, aiming to increase trading volumes in Europe appeared first on The Block.
The current sentiment of the cryptocurrency market is showing “extreme fear,” according to Crypto Fear & Greed Index by data platform Alternative.me.The post Bitcoin investors suddenly exhibit ‘extreme fear,’ similar to Dec. 2018 situation appeared first on The Block.
Mark Cuban's Dallas Mavericks will support bitcoins as a method of payment, the NBA team announced via a press release on Tuesday.The post Dallas Mavericks to accept bitcoin as payment appeared first on The Block.
Maryland Attorney General Brian E. Frosh announced via a press release on Wednesday that his Securities Division is now participating in "Operation Cryptosweep." Operation Cryptosweep is a task force started by the North American Securities Administrators Association (NASAA) in 2018, to "begin a coordinated series of investigations into ICOs and cryptocurrency-related investment products." According to the […]The post Maryland Attorney General announces participation in 'Operation Cryptosweep' appeared first on The Block.
Cryptocurrency payment processing service provider Flexa is coming to Canada, the company announced in a blog post on Tuesday. This is Flexa's first offering outside the U.S.The post Flexa brings cryptocurrency payments to over 7,500 Canadian merchants appeared first on The Block.
The main bus service from the Brazilian city of Fortaleza, Ceará will begin accepting Bitcoin payments by the end of 2019, according to a recent report by Brazilian newspaper O Povo. Fortaleza bus will soon accept Bitcoin The Ceará Co-operative of Autonomous Passenger Transporters (COOTRAPS) announced that the new payment system for the Fortaleza bus service will be implemented towards the end of the year, and will accept major credit cards and mobile payments as well as BTC. This new measure aims to make payments easier for bus passengers to avoid delays and make the service better for everyone involved. With a new and updated payment system, passengers will be able to pay quickly in their preferred method. A major stepThe post Brazil's new public transportation service will soon accept Bitcoin appeared first on Coin Rivet.
HMRC’s bid to claw back taxes on cryptocurrencies demonstrates that digital assets are the future of money, claims the head of one of the world's largest financial advisors. Nigel Green, chief executive of deVere Group, delivered his assessment after it was revealed that the UK's HM Revenue & Customs was asking cryptocurrency exchanges to reveal customers’ names and transaction histories in a bid to recover unpaid taxes. “This move by the UK’s tax authority cannot be viewed as anything other than another clear sign that cryptocurrencies like Bitcoin, Ethereum, and XRP are not only part of mainstream finance, but also the future of money,” he observed. “There is a continual and increasingly rapid slew of indicators that digital currencies areThe post HMRC just proved crypto is the future, expert says appeared first on Coin Rivet.
South Korean electronics giant Samsung has silently added support for bitcoin to its Blockchain Keystore, an online decentralized applications (dapps) store.The post Samsung quietly adds support for bitcoin to its Blockchain Keystore appeared first on The Block.
Since August 10, BTC has been squeezed in a narrow range of around $11,400 and so far it experiences difficulties with determining the further direction. The current price dynamics are taking place against the background of the decline in trading volumes: according to CMC, over the last 7 days they have fallen by 42%. This may indicate a temporary loss of interest of investors, who prefer to stay aside waiting for new impulses.
The Securities and Exchange Commission (SEC) again postponed decisions on three bitcoin exchange-traded fund (ETF) proposals, according to several documents released by the regulatory agency on Monday. The post SEC again delayed decisions on three bitcoin ETFs, setting new deadlines in September and October appeared first on The Block.
Cryptocurrency exchange Coinbase has backed a $4.3 million seed funding round for upcoming cryptocurrency derivatives exchange Blade. The round also saw participation from venture firms SV Angel, A.Capital and Slow Ventures, among others, according to a report from TechCrunch on Monday.The post Coinbase backs $4.3M seed round for upcoming crypto derivatives exchange Blade appeared first on The Block.
The crypto bears are looking to take August, following a July pullback. It’s not panic stations yet, as Bitcoin steers clear of sub-$11,000…
A large sell-off of XRP on cryptocurrency exchange Beaxy on Monday triggered the tokens to trade at a 62% discount on Beaxy compared to other exchanges. The post Crypto exchange Beaxy halts trading activity and withdrawals after "unusual high volume activity" appeared first on The Block.
Bitcoin is on a losing streak this week, falling below $11,000 after its recent rally. Yahoo Finance’s Brian Sozzi, Alexis Christoforous, and Oscar Williams-Grut break down what’s behind the slump.