Friday, June 22Your Daily Bitcoin & Altcoin News Portal
ICO Token Sell-Offs Caused the Recent Ethereum Price Slump, Survey Shows

ICO Token Sell-Offs Caused the Recent Ethereum Price Slump, Survey Shows

PRICE ANALYSIS
Any time there’s a major correction or major upsurge in values for any market, opinions and tempers flare about what could have caused it? When prices plummet, people tend to get especially upset. The recent collapse in the price of Ethereum (ETH) has led some to speculate about what could have caused the problem. Cointelegraph conducted a survey about the potential causes for the decline and the responses were interesting. The majority of respondents believe that ICO token sell-offs have caused the price decline. The massive rise in ICOs over the past months have led to a large amount of ETH being gobbled up in the attempt to raise funds. As startups seek to capitalize on funding by selling, the market may well have been flooded with available ETH, driving down the price. Othe
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13 Japanese Exchanges Agree to Suspend Bitcoin Service on August 1

13 Japanese Exchanges Agree to Suspend Bitcoin Service on August 1

BITCOIN
The Japan Cryptocurrency Business Association has officially announced its plan on how to deal with the possibility of a Bitcoin protocol split on August 1. Thirteen of the group’s bitcoin exchange members, including Coincheck, Gmo-Z, Bitbank, and Bitpoint, will suspend bitcoin deposits and withdrawals on August 1 at 00:00 Japan time. Suspension of Bitcoin Deposits and Withdrawals The Japan Cryptocurrency Business Association (JCBA), formerly known as the Virtual Currency Business Study Group, announced on Tuesday its official plan for August 1. Thirteen bitcoin exchange members of the association have agreed on how to deal with the possibility of a Bitcoin protocol split, which is expected on August 1 at 9:00 am Japan time, the JCBA detailed. “The occurrence of forking affects th
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Bitcoin Buyer Protection Takes Priority in Korea for Digital Currency Bill

Bitcoin Buyer Protection Takes Priority in Korea for Digital Currency Bill

BITCOIN
Discussions toward a new set of bills pushing to regulate and legalize cryptocurrencies like Bitcoin and Ethereum are underway in South Korea.  At a public hearing today, South Korean officials and lawmakers convened at the National Assembly Library in Seoul to collect and discuss opinions ahead of the proposed revision of the Electronic Financial Transactions Act that will include digital currencies under its purview. As CCN reported two weeks ago, Korean politician Park Yong-jin, a member of the country’s ruling Democratic Party, proposed three revisions to the law to mandate regulatory oversight over cryptocurrency transactions. Park presided over today’s meeting – consisting of lawmakers, a regulator from the Financial Services Commission, academics and more as a part of seven pa
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Ethereum Price Rebounds Over 50% as EEA adds Mastercard

Ethereum Price Rebounds Over 50% as EEA adds Mastercard

ETHEREUM
After hitting a low of $182 only a day earlier, Ethereum’s price rebounded over 50% and is currently trading at $267. Not only did Ethereum have the biggest raw percent gain in the past 24 hours, but it also has double the trade volume that Bitcoin has. There is currently a $10 billion difference in Bitcoin and Ethereum’s market caps, if these price gains continue Ether may challenge Bitcoin once again. After Ethereum hit an all time high of $408 exactly a month ago on June 18th, the price has been toppling ever since. At its peak, Ethereum’s market cap was roughly at $35 billion, and was only $3 billion away from surpassing that of Bitcoin. Chances are that this battle will be revisited in the future. Today the tables have turned as the crypto market’s jets started working again
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Irish Tech Startup Releases Wearable Cryptocurrency Device

Irish Tech Startup Releases Wearable Cryptocurrency Device

BLOCKTECH
The rapid increase in cryptocurrency popularity, along with the burgeoning market for ICOs and other Blockchain technology has lead to some surprising new tech being released onto the market. The most recent of such releases is a wristband that allows users to pay for drinks, food at bars and other restaurants and festivals using their Dash holdings. The tech, called Festy, is the brainchild of Irish tech firm Bitcart and will be the first of its kind on the market. It utilizes a QR code with a Blockchain infrastructure that takes advantage of Dash’s InstantSend technology, making payments nearly immediate, but with much lower fees than legacy credit cards. CEO Graham de Barra said, “Our partnership with Dash makes the perfect payment solution for everyday transactions. Unlike existing
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ICOs Will Go on Despite Ethereum Price Fall and Uncertainty

ICOs Will Go on Despite Ethereum Price Fall and Uncertainty

ETHEREUM
Genuine Blockchain-based startups with potential will do well in the long term despite the reducing value of top cryptocurrencies especially ETH-based ERC20 tokens which are mostly used during Initial Coin Offerings. The projected cap for startups running crowdsales currently – or those that are about to start – have been affected by the fear and panic permeating the entire crypto space since the news of a pending scalability issue that is threatening to split the top currency Bitcoin into two. “Most ICOs need funding because they need to spend fiat money” Normally, all new startups that have raised funds through ICOs need cash at some point thus having the need to sell into the market. Some other reasons such as the time it takes for these projects to spend capital on developing what
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Crypto Market Crosses $80 Billion As Ether, Bitcoin Prices Gain

Crypto Market Crosses $80 Billion As Ether, Bitcoin Prices Gain

BITCOIN
The cryptocurrency market continued to rebound on Tuesday, crossing the $80 billion-mark after a weekend that saw steep declines across the asset class. Overall, the market reached a high of $84.9 billion today, up nearly 40% from a low of $61 billion this weekend. At press time, all of the top 30 cryptocurrencies had posted 24-hour gains, according to data provider Coinmarketcap. Leading the recovery were the ecosystem’s three largest assets by market capitalization – bitcoin, ether and XRP, all of which were up more than 10% on the day’s trading. After dropping to below $2,000 this weekend, the price of bitcoin is now trading above $2,300, while ether notably crossed $200 for the first time since July 14. At press time, the total value of the market was down
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Daimler’s €100 Million Ethereum Bond Is Bigger Than Mercedes-Benz

Daimler’s €100 Million Ethereum Bond Is Bigger Than Mercedes-Benz

Uncategorized
When the manufacturing company behind Mercedes-Benz issued its first blockchain bond last month, it did something that impacts much more than just a single automobile brand. As revealed to CoinDesk, the €100m bond, issued on a private version of the ethereum blockchain signals the first step in a much larger plan by Daimler AG to explore the technology. But it’s the type of bond – called a Schuldschein – that gives the project a truly global scale. Since the financial crisis of 2008, this German version of a private placement has seen an explosion of use around the world, now totaling more than €20bn annually. But while Daimler itself says large-scale use of an ethereum-based Schuldschein isn’t likely anytime in the near future, its success is already encouraging the German fi
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How Hackers Stole $7 Million in Ether From Coindash ICO

How Hackers Stole $7 Million in Ether From Coindash ICO

ETHEREUM
Coindash is a blockchain company that helps investors manage investments and hedge those investments against other traders. This morning the startup’s token sale was hacked and 7 million dollars’ worth of ether were promptly stolen. The company left a warning on its token funding page advising investors to cease sending funds. Coindash’s funding page read, “This is an emergency message delivered to you in order to stop you from sending your money to an unauthorized ETH address. It seems like our Token Sale page was tampered and the sending address was changed. Please stop from sending your funds to any of the addresses until we say otherwise. We are currently examining the situation and will shortly send further instructions.” The token sale was slated to last for 28 days, an
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Kazakhstan Seeks to Become Regional Hub for Cryptocurrency Industry

Kazakhstan Seeks to Become Regional Hub for Cryptocurrency Industry

ADOPTION
The Kazakhstan government has announced its intentions to make the country host to “the most favourable business climate” for cryptocurrency and fintech companies. The announcement comes from Kazakhstan’s Astana International Financial Center (AIFC), which plans to operate in collaboration between Deloitte, Waves, Kesarev Consulting, and Ukrainian law firm Justcutum in order to develop a “highly progressive regulatory framework” for blockchain and cryptocurrency companies. AIFC is Aiming to Become the Most Favorable Cryptocurrency and Fintech Country in Region Kazakhstan has announced that the AIFC will work in partnership with Deloitte and Waves to develop a permissive regulatory apparatus for cryptocurrency, blockchain, and fintech businesses. CEO of the AIFC Authority, Nurlan