Altcoin: Cryptocurrency Market is Expanding

Altcoin: Cryptocurrency Market is Expanding

                                

Bitcoin is widely regarded as the Founding Father of all contemporary cryptocurrencies.

People first heard of Bitcoin in 2009 when Satoshi Nakamoto, whose identity still remains unknown, revealed an open-source code that was actually an improved conceptualization of a cryptography method known as blockchain. Nakamoto has successfully implemented a proof-of-work algorithm that came to be known as the bitcoin software.

 

Bitcoin laid a foundation for the development of other cryptocurrencies which obtained the collective name ‘alternative coins’ – altcoins. Less than ten years later since Bitcoin emergence, we officially have more than 1600 cryptocurrencies, with new kinds of this digital cash being introduced almost on a weekly basis. They are based on different algorithms and blockchain types, have different value and purpose, some of which will be described later in the article, but Bitcoin still remains a dominant currency that usually sets the market trends for the rest.

Altcoins are pushing harder

However, everything indicates that this prevalent position is gradually diminishing with altcoins gaining more popularity as well as market capitalization. According to the study conducted by the employees of the City University of London, there are 600 cryptocurrencies, aside from Bitcoin, which are being actively traded on crypto exchanges around the world. Coinmarketcap shows that the percentage of total market capitalization (TCM), also known as ‘dominance’, of Bitcoin with regard to altcoins has been reducing exponentially. In 2017, Bitcoin held as much as 86.29% of TCM, but in just two years it was reduced to 47%. It means that altcoins will continue to attain a strong footing in the crypto world and have more and more fields of application, with online gambling certainly being among the most popular ones.

Popular altcoins and their scope of use

Nowadays, when speaking of cryptocurrencies there is no way to avoid mentioning Ethereum, or Ether, a digital token that is the lifeblood of the blockchain operating system of the same name. Thanks to this platform, users can create smart contracts, a protocol that provides means for carrying out credible transactions without any intermediaries. Ether is probably the most popular altcoin today because it is widely accepted as a mean for investment in blockchain startups. Litecoin is often referred to as the ‘younger brother’ of Bitcoin because it is basically a slightly improved version of BTC. Nevertheless, it enjoys vast popularity because of its superior transaction confirmation mechanism known as the Litecoin Network.

Dash is also a reformed version of Bitcoin which uses several cryptographic algorithms and the system of master nodes to allow for almost instant transactions. Monero is based on the CryptoNote protocol that ensures the unparalleled level of anonymity along with the obfuscation, the act of making something incomprehensible, of all transactions thus making them impossible to trace. As you can see, these altcoins have different foundation and functionality, but all of them, as well as more than a dozen other cryptocurrencies, can be used for making bets on sports and playing in online casino at 1xBit, the most crypto-friendly gambling platform around.

1xBit happily accepts altcoins

If you are a crypto enthusiast who also likes to bet on sports or play in live online casinos, but just couldn’t seem to find the all-for-crypto platform that will cater to your needs, then look no further than 1xBit. Acting in compliance with the concept of total anonymity, 1xBit doesn’t gather any personal information from new users and allows them to play in a safe and confidential environment thanks to the one-click registration process. All deposits/withdrawals are carried out almost instantly and at a very low to no-fee basis. 1xBit broadens the scope of use of altcoins by providing a fully-fledged crypto-oriented gambling platform.

Article Produced By
Carolyn Coley

Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.

 

https://smartereum.com/53130/altcoin-cryptocurrency-market-is-expanding/

Northern Irish Capital Belfast Introduces Local Digital Currency

Northern Irish Capital, Belfast Introduces Local Digital Currency

Understand the reasons for Bitcoin’s recent rise and how far it can go

Understand the reasons for Bitcoin's recent rise and how far it can go

                                

Fausto Botelho says that Bitcoin's high can go up to US $ 350 thousand

Bitcoin continues to trade at a bullish paceand was traded above $ 8,000 on Monday (13) but had a slight decline and is quoted at $ 7,850 at 9:00 p.m., Brasília time. The BTC now accumulates high above 100% only in 2019 and experts explain the reasons for the bullish move, which may still exceed $ 65K. Hélio Silva, CEO of startup Cloudbit.me and founder of the Bitcoinkids project, associates with the news that Bakkt will offer future contracts for bitcoin focusing on the institutional market. This was news that was well awaited by the market and that there was already an expectation that it would push the price of the cryptomaned upwards.

For him, this would be an incentive for large companies to inject large amounts of institutional money into crypto-economics, which would increase Bitcoin's price. "The rise was more due to the announcement that Bakkt made the update of future contracts that she will work. They are saving as much in custody as working side by side with New York State. " Silva, however, believes there may still be a correction, but that will not make Bitcoin fall more than $ 6,500. "Today is well consolidated. If there is any correction it will be between $ 7,000 and $ 6,500. You have a strong support for a fall. For this to happen you have to have more people selling, than buying. "

Bitcoin boosted

Fernando Ulrich , chief analyst at XDEX , says that this kind of high is something that the market does not expect and recommends caution with all the euphoria around this valuation of the cryptomade. "There is no way to expect any break from this. No doubt that today hit the high of the year about R $ 31 thousand. This corresponds to a 100% gain in 2019. It demands caution, because every high euphoric does not tend to sustain itself. " Ulrich agrees with Silva and also associates the high news of Bakkt to begin to operate of regulated form in New York.

"Bakkt has a very complete proposal to provide customers and institutional investors with a regulated trading platform as well as future contracts and custody of digital assets, as well as allowing ordinary users to use and pay for Crypto-derivatives." He also explains that the news of Bakkt was very important, as this proposal also involves strong names in the market such as Microsoft and Starbucks. Both Ulrich and Silva believe that this will bring major investors into the cryptomania. Ulrich, however, points out that the side that has to be seen is that the high is also tied to the better understanding of the use of Bitcoin.

Usefulness of the cryptomanes

The economist explains that although there are other points that should be considered. One is that there is a greater interest of investors to apply in crypto-currencies. "Siberity investment has conducted a survey of more than 400 investors. Almost half wanted to invest in crypto. The market is beginning to understand utility. " In Ulrich's view there may be a migration of commodity and asset investors, which is down in the international market for the crypto-coins sector. Because it is a market yet new and small any number that can make a difference. "It's still a market compared to the others," he says.

For the economist, this moment is higher than low of Bitcoin. "The market was already resonating in 2019 after 2018 with a strong correction expelling all those excesses we had for various indicators. A series of information had already shown that we were very close to the bottom of the well and that from now on we will have higher than low. " But he warns that "it may have a correction in the next few days."

For the up and away

Fausto Botelho , CEO of Enfoque and technical analyst of Securities, says that this breach of more than $ 7,000 may be the harbinger of a new rise in Bitcoin. In this, he points out that the criptomoeda can be worth $ 65,000 or even $ 350,000. For a better understanding, the analyst sent the Bitcoin Portal a graph that shows in detail the cycles of this digital asset since 2010, when Bitcoin was worth US $ 0.10. Botelho signals that in the first cycle of high Bitcoin happened to hit a mark of a little more than $ 1,000, but that later came a fund in 2015 bringing the criptomoeda to $ 200 and, from there, the market experienced a new high at the end of the year 2017, reaching US $ 20,000.

In Botelho's view, what is about to happen is a new high that can be equal to the first, which can bring an overvaluation of this digital asset in a very optimistic view, or in the more realistic view it can reach two possible highs: repeat "Wave III" in whole or only "a high that occurred between cycles 3 and 5 of wave III", which occurred in 2017. "A more modest hypothesis is if he copied the last piece of the high that he had in 2017, we will have to count from the bottom of December of the last year a discharge with Bitcoin being worth $ 65 thousand. The $ 350,000 is if there is a high repeating wave three in what looks more like a long-term bullish move. "

Default Satoshi

Botelho says that doing the Bitcoin analysis is different from studying actions. "Bitcoin has started from scratch and stocks are already entering the market with value. We are seeing something completely new. For me, everything will be tokenized in the future. " He says that Satoshi may be the new standard as the dollar is today and one day it was gold. "I understand that what we are seeing flourishes is a new world monetary standard. It will not be the Bitcoin Pattern, but it will be Satoshi's "SAT" pattern. For things will not be quoted at zero of Bitcoin if it amounts to more than $ 100,000. "

Article Produced By
Alexandre Antunes

Journalist and researcher of criptomoedas, fintechs and other innovations in the financial market.

https://portaldobitcoin.com/entenda-os-motivos-da-recente-alta-do-bitcoin-e-ate-onde-ela-pode-chegar/

 

Will the identity of bitcoin creator Satoshi Nakamoto be revealed on May 14th?

Will the identity of bitcoin creator Satoshi Nakamoto be revealed on May 14th?

                                  

A new website, Got Satoshi, claims to know the true identity

of Bitcoin creator Satoshi Nakamoto. The reveal is scheduled to happen today, on May 14, during the annual Consensus conference in New York. Probably created as a publicity stunt, the person behind the website got more than he bargained for when the wrath and ridicule of the crypto community descended upon him.

New website promises to show who Satoshi Nakamoto really is

While the true identity of Satoshi Nakamoto, still is and probably will remain unknown, there has never been a shortage of people claiming to be the creator(s) of Bitcoin. The latest high-profile figure that has tried to claim the Bitcoin throne was Craig Wright, the controversial creator of Bitcoin SV. Seeing how Wright’s assertions that he is, in fact, responsible for creating Bitcoin have widely been ridiculed, it’s likely that anyone making such a claim will face similar skepticism unless overwhelming evidence is provided.

However, it seems that the judgment and ridicule Wright has faced did not deter Got Satoshi, a newly launched website that claims to be run by Satoshi Nakamoto himself. The one-page website hosts a countdown timer that runs out on May 14, when the true identity of Satoshi will allegedly be revealed. The website itself is short on detail, but the person behind the page has been active on Twitter. The user posted random thoughts and updates on the progress of the countdown timer in just over 20 tweets but has not interacted with any of his 5,700 followers.

None of the usual suspects are Satoshi, website claims

While the Got Satoshi campaign failed to attract a large audience, many were left wondering what its purpose is. Guesses ranged from a marketing campaign for a sketchy ICO, an internet troll enjoying themselves, to John McAfee avoiding legal issues. McAfee, the creator of the eponymous anti-virus software and Bitcoin maximalist, predicting that BTC will hit $1 million by 2020, has previously claimed to know who Satoshi Nakamoto is. Last month, he promised to either reveal his identity or try and persuade Nakamoto to do it himself, but has reportedly backed out of the effort to avoid “legal troubles.”

The person behind the Got Satoshi twitter account said McAffee might be aware of who he is, but has been firm in his assertion that he is not Craig Wright. Got Satoshi’s tweets were widely ridiculed, with many Twitter users doubting that Satoshi would announce his identity in such a sensationalist way.The “reveal” is scheduled for 15:50 GMT on May 14, right in the middle of the annual Consensus conference in New York. And while the event won’t lack any drama, it will most likely lack the only proof that would convince everyone—the use of Satoshi’s

Article Produced By
Priyeshu Garg

Crypto Journalist at CryptoSlate

https://cryptoslate.com/will-the-identity-of-bitcoin-creator-satoshi-nakamoto-be-revealed-on-may-14th/

Billionaire Novogratz Predicts 20000 Bitcoin Price Within 18 Months

Billionaire Novogratz Predicts $20,000 Bitcoin Price Within 18 Months

                                

Michael Novogratz, a former hedge fund manager and current CEO of Galaxy Digital,

a full-service cryptocurrency merchant bank, has predicted that the bitcoin price will triple within the next 18 months. Novogratz, a graduate from Princeton University, believes that the bitcoin price will return to its previous all-time high of nearly $20,000, which the cryptocurrency reached on December 17th, 2017.

Bitcoin Has "Popped Back Up"

Novogratz, whose comments came during an interview with CNN Business at the SALT Conference, held in Las Vegas, Nevada on May 9th, 2019,

remarked:

Out of the rubble, Bitcoin has popped back up.

According to Novogratz, Bitcoin price will not drop as low as it did in December 2018, when the world’s most dominant cryptocurrency was trading at only around $3,200. However, the former Goldman Sachs investment banker clarified that Bitcoin’s value may plummet if another major cryptoasset exchange is hacked or if more restrictive crypto regulations are introduced.

While speaking at the SALT Conference, Novogratz stated:

It would take something like [a major security breach of a crypto exchange] to shatter [the] newfound [investor] confidence in the [digital asset market].

Despite a recent large-scale security breach that occurred on leading cryptoasset exchange Binance on May 7th, 2019 (resulting in a loss of around 7,000 BTC, valued at over $40 million), the crypto market’s confidence appears to not have been affected. This, as the Bitcoin price has surged past the critical $6,000 mark and the cryptocurrency is now trading at around $6,031 at press time. However, Novogratz thinks that, in general, "for institutions to feel comfortable, you've got to have a lot less of this.” The Galaxy Digital founder also recommended that cryptoasset exchanges implement more robust security for their trading platforms. Notably, Novogratz is not the only prominent crypto industry participant who’s bullish about Bitcoin. Tuur Demeester, the founder and CEO of Adamant Capital, recently said during an interview conducted by Peter McCormack on the WhatBitcoinDid podcast that the Bitcoin price is greatly influenced by psychological factors.

Demeester explained:

If you look at the blockchain and the Bitcoin that is being moved and then compare it to the current price, you will get something that is called the unrealized profit and loss. There is an assumption that when BTC is moved it is sold, and this event is called a value realization event. It is just that the owner had the opportunity to liquidate their Bitcoin and that is why they took it.

“Investor Psychology More Inclined Towards Greed When Bear Market Sets In”

He added that the crypto market has seen “similar patterns during late 2013 and early 2014” when there was an accumulation of substantial “unrealized profits.” Demeester pointed out that the same thing happened during the summer of 2017.

Demeester stated: 

The investor psychology was more inclined towards greed and when the bear market sets in, the positive sentiment obviously decreases. Once it is in the red, retail investors walk away which is what happened in November 2018 when BTC dropped from $6,000 to almost $3,000 [by December 2018].

Article Produced By
Omar Faridi

I enjoy writing about all topics related to Bitcoin, Blockchain, and other cryptocurrencies. The topics that interest me most are crypto regulations, quantum resistant blockchains, Ethereum and Bitcoin Core development, and scams orchestrated under the guise of ICOs. My academic background includes an undergraduate degree in Computer Science, with a minor in Mathematics from the University of Nevada, Las Vegas. I also possess a Master of Science degree in Psychology from the University of Phoenix.

While completing my coursework, I engaged in independent study programs focused on public-key cryptography and quantum computing. My professional work experience includes working as an application developer for the University of Houston, data storage specialist at Dell EMC, and as Teacher of Mathematics in the United States, China, Kuwait, and Pakistan.

https://www.cryptoglobe.com/latest/2019/05/billionaire-novogratz-predicts-20000-bitcoin-price-within-18-months/

Top 4 Ways to Cash out Crypto Profits in 2019

Top 4 Ways to Cash out Crypto Profits in 2019

                               

 

 Most people are interested in cryptocurrencies

as a way to make money. Whether it is an extra income, some minor profits, or a full income as a self-employed trader, the opportunities are nearly limitless. Cashing out crypto profits can often be somewhat more complicated. Several options are at one’s disposal in this regard, although there is no one solution which works for everyone.

Traditional Exchanges With KYC

Perhaps the most commonly used option to cash out crypto profits comes in the form of using traditional trading platforms. Not everyone is a fan of centralized exchanges, which is only normal. Dealing with order books and going through a KYC process is not necessarily synonymous with a hassle-free experience. Despite those potential drawbacks, trading platforms remain a valuable option to convert cryptocurrency into more mainstream currency. Several factors need to be taken into consideration in this regard. First of all, one needs to adhere to specific withdrawal limits. Depending on one’s account verification level, those limits can range anywhere from $2,000 a day to unlimited funds. Secondly, these companies adhere to strict KYC guidelines, which means they may disclose your transactions to interested governments. Avoiding the need to pay taxes on such transactions is ill-advised, albeit that remains one’s personal decision first and foremost.

OTC and Peer-to-peer Trading

Another commonly used option is to rely on OTC or peer-to-peer trading. In terms of cashing out crypto profits, it is a viable option. There will often be people willing to buy from OTC or P2P sellers at a fair price. Interested users need to ensure they do not overdo this process. Many governments target Bitcoin sellers who are, in their eyes, acting as an unlicensed money transmitter of some sorts. For those users dealing with small amounts of cryptocurrency, LocalBitcoins and consorts are always worth checking out. This platform is available in virtually all countries and allows users to sell Bitcoin for any type of payment method they prefer. Sellers can also determine their own rates to sell cryptocurrency, which always makes things a bit more exciting. Make sure to rely on platforms offering escrow protection of some sort, as that will allow for more secure transactions.

Debit Cards Supporting Cryptocurrencies

Over the past year and a half, most discussions pertaining to Bitcoin debit cards have calmed down. That doesn’t mean this business model is no longer viable. Especially for users looking to cash out crypto profits, a cryptocurrency debit card can be a viable tool. Users can withdraw local or foreign currency from nearly all ATMs around the world, although a small fee might be added for doing so. Similar to dealing with OTC and P2P trading, it is not something which should not be overdone. Cryptocurrency debit card providers also use bank accounts and keep logs of how their customers operate. Any user potentially funding a card with thousands of dollars and withdrawing funds every week will attract attention. That can lead to an official investigation in one’s home country if those earnings are not reported to the right authorities accordingly. 

Contact a Tax Attorney or Accountant

As odd as it may sound, one of the safer options to cash out crypto profits is to directly contact a tax accountant or attorney. These individuals can aid in ensuring the crypto earnings can be withdrawn and all tax requirements will be taken care of accordingly. Since it is their job to often deal with vast sums of money they may be able to offer some alternative solutions to maximize one’s profits while remaining compliant at all times.

Options like these might not be in most people’s top 5 by any means. Cryptocurrency is often seen as a solution to bypass traditional financial systems in any way. Choosing that option can often yield unexpected and unwelcome consequences. As such, talking to an expert is a solid option. Any information or advice can be obtained free of charge without further commitments.

Article Produced By
JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers.

https://nulltx.com/top-4-ways-to-cash-out-crypto-profits-in-2019/

Zeux Partners With VeChain Supports Crypto Payments Via Apple Pay and Samsung Pay

Zeux Partners With VeChain, Supports Crypto Payments Via Apple Pay and Samsung Pay

            

The crypto payments app Zeux is rolling out support for VeChain (VET).

The app is designed to let users spend their crypto at retail stores that accept Apple Pay and Samsung Pay. The London-based company says it has launched in the UK and will be up and running in Europe later this year.

“VeChain has been a major player in developing its blockchain to make a difference in enabling enterprises and professional teams to leverage public blockchain. In particular, given the large VeChain community in Europe, the partnership will help us to reach our target European customer base”. Once crypto spenders activate their Apple Pay or Samsung Pay at a supported point-of-sale (POS) device, selecting their preferred cryptocurrency to complete the purchases, a merchant will then receive fiat. The cryptocurrency is instantly deducted from the spender’s Zeux digital payments wallet, with no charges for the conversion.

The fintech company says it’s aiming to create a digital banking solution that combines all banking activities on a single app to bridge the gap between traditional POS payment systems and the new era of crypto.The team at Zeux says the app will also integrate a built-in investment platform and a foreign exchange function. VeChain is just the latest addition to the crypto lineup on Zeux. The platform also supports Bitcoin, Ethereum, NEO, IOTA, Qtum and Bitcoin SV.

Article Produced By
THe Daily Hodl

https://dailyhodl.com/2019/05/12/zeux-partners-with-vechain-supports-crypto-payments-via-apple-pay-and-samsung-pay/

 

 

 

 

 

PayPal Could Go Down Like Nokia Did If It Doesn’t Adapt to Blockchain Tech

PayPal Could Go Down Like Nokia Did If It Doesn’t Adapt to Blockchain Tech

                                

PayPal, the global online payments and money transfer system,

has begun investing in blockchain technology. But according to their chief financial officer John Rainey, the firm is hesitant about getting involved in the cryptocurrency sector. Speaking in an interview with Yahoo Finance on May 7, Rainey pointed out that PayPal briefly allowed their merchants to accept Bitcoin (BTC) as a form of payment, but that feature was shut down due to the currency’s instability and volatility.

Adding to this, Rainey said:

“We have teams clearly working on blockchain and cryptocurrency as well, and we want to participate in that in whatever form it takes in the future. I just think it’s a little early on right now.”

PayPal Is Not Focused on Blockchain and Crypto

Rainey stated that currently PayPal is focused on other areas of growth rather than trying to incorporate a cryptocurrency payment system. He then revealed that PayPal made a $500 million investment with Uber, because the two companies are planning to build a payments platform together.He also added that PayPal made a deal with Instagram, that they would be a payment provider for people shopping on the popular social media platform. Moreover, as if these deals and partnerships weren’t enough, the global payments giant remains on the hunt for other major acquisitions.

Final Thoughts

Although PayPal was previously focused on the research and development of blockchain technology, as they filed a variety of cryptocurrency and blockchain-related patents, it appears the company is taking a different approach in 2019. If PayPal fails to acknowledge the potential of cryptocurrency and blockchain technology, or to allocate the time and resources to develop and implement their own solutions, they could quickly fall behind with outdated payment technology.

After all, the cryptocurrency industry moves extremely fast, and new products and payment developments are being developed at this moment that could very likely surpass PayPal. Will cryptocurrencies ever make PayPal obsolete? Or will the global payments provider quickly adapt when the time comes? Let us know what you think in the comment section below.

Article Produced By
Jeremy Wall

Jeremy is a financial writer and aspiring investor. He is also a cryptocurrency enthusiast that’s fascinated with blockchain technology and the financial markets. When he’s not researching and learning about cryptocurrency, he’s traveling the world with his dog and girlfriend.

https://www.investinblockchain.com/paypal-go-down-nokia-doesnt-adapt-blockchain-tech/

Chainlink LINK: Flying High in Current Crypto Market on Partnership News

Chainlink (LINK): Flying High in Current Crypto Market on Partnership News

                                  

 

Chainlink (LINK), the decentralized oracle middleware project

that helps smart contracts interact with real-world data, has been among the best performing crypto projects so far in 2019. Of course, bitcoin (BTC) has been the one leading the cryptoeconomy up as of late, being up 11 percent on the week, up 18 percent on the month, and up 73 percent over the last three months. Yet LINK has been putting up similarly optimistic numbers — the crypto’s price is up 43 percent on the week, up 29 percent on the month, and up 54 percent over the last three months in kind.

The crypto, which now enjoys enjoys a market capitalization of approximately $240 million USD, is currently priced at $0.068 — now more than halfway to its all-time price high of $1.28, which was reached during the peak of the cryptoeconomy’s last bull run in January 2018.

As the crypto ecosystem has seemingly started to turn bullish once more, many of the top coins’ prices have started to show new signs of life in the market. But LINK, a lesser known project generally speaking, has been one of the better performers recently — why? The answer to that question is undoubtedly a combination of things. First, Chainlink is tackling decentralized oracles, which could end up taking smart contract tech to the mainstream. It’s also the largest and most reputable project working on oracles, with Chainlink’s technical maestro Sergey Nazarov being a respected mind in the ecosystem.

A factor surely at play is Chainlink’s small, underdog status. Traders have likely looked at LINK as a coin that can grow higher and faster than top 10 crypto projects that have already become well established. Thus, Chainlink could provide a more aggressive bet than other coins at present. Another dynamic to consider is that the Chainlink team has been quietly racking up partnerships around the space. Decrypt recently profiled these partnerships, of which there are now approximately 30.

Hedera Hashgroup and Chainlink Partner Up

Chainlink’s latest partnership announcement came on May 9th, as the team and the builders of the Hedera Hashgraph decentralized ledger declared they had inked a deal. Specifically, the agreement will entail Chainlink helping to implement its oracle network into the enterprise-minded Hedera Hashgraph ledger. As such, those writing Hashgraph smart contracts will be able to leverage Chainlink’s oracles in the future. Jordan Fried — Hedera’s SVP of Global Business Development — hailed the collaboration as an advancement for the possibilities of smart contracts

in general:

“Smart contracts have already started to change the world, and how organizations and individuals do business, and we see Chainlink’s oracle network as a key piece of infrastructure to improve smart contract capabilities even further.”

The Hedera team also noted that the team-up would give Chainlink’s tech exposure to some of the “largest global enterprises” operating today.

LINK a Coin to Watch in Alt Season Cycle?

The debate is still on as to whether the cryptoeconomy has entered a full-fledged bull market cycle. If it has, though, Chainlink seems like the kind of coin worth keeping an eye on. Chris Burniske, a partner at the venture capital firm Placeholder, recently outlined how bitcoin seems to rally first, at which point traders disseminate their profits into altcoins that are viewed as “depressed” — i.e. undervalued. In his associated Twitter thread, Burniske didn’t mention any specific altcoin by name — “pick your alt,” he said.

Yet the possible tinderbox conditions around Chainlink seems to make it precisely the kind of “depressed” altcoin that could help lead the cryptoeconomy’s next altcoin cycle if the bitcoin price continues to push up. Nothing is guaranteed in crypto, and it’s impossible to say what will happen next in these markets. But in the very least, it’s clear Chainlink is an interesting project to watch going forward.

Article Produced By
Avatar
William M. Peaster

William M. Peaster is a poet, novelist, and cryptocurrency editor. He is not a financial adviser. He enjoys covering both the promise and warts of the emerging cryptoeconomy.

https://blockonomi.com/chainlink-link-flying-high-partnership-news/

The SEC Has a New Exchange Traded Fund Application to Review

The SEC Has a New Exchange Traded Fund Application to Review

                                

The U.S. Securities and Exchange Commission (SEC)

has posted a new proposal from Crescent Crypto Index Services, a subsidiary of Crescent Asset Management, for the launch of a crypto-backed exchange-traded fund (ETF). According to the application, the company, which is based in New Jersey, will be looking to monitor the performance of a portfolio of ether (ETH) and bitcoin (BTC). The fund has been named the “USCF Crescent Crypto Index Fund” with “XBET” being its proposed ticker.

It will also be sponsored by United States Commodity Funds LLC, a commodity pool operator which, according to the filing, is under regulatory oversight from both the National Futures Association and the Commodity Futures Trading Commission (CFTC). The new ETF proposal joins the list of proposals being reviewed by the SEC, including the Bitwise Bitcoin ETF Trust, an ETF proposal filed jointly by Bitwise Asset Management and the New York Stock Exchange (NYSE) Arca, and the VanEck SolidX proposal that has yet to be approved since it was first filed in 2018.

The fact that there are three separate ETF proposals is an encouraging sign for crypto investors, even though the SEC has yet to approve any of them. But in the last two years, numerous companies have failed in their bids to secure ETF approval, including the Winklevoss-owned Gemini Trust, ProShares and Direxion. Some other companies have also had to withdraw their proposals after several delays from the regulator. Among other rationale, the SEC’s stated reasons for denying these proposals rest on concerns over market manipulation and insufficient investor protection.

Article Produced By
Jimmy Aki

https://bitcoinmagazine.com/articles/sec-has-new-exchange-traded-fund-application-review/