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Coin Rivet

News, analysis, opinion and insight from the fast moving blockchain world

09/24/2020 03:31 PM

Daimler partners with Ontology to transform driving experience

Open-source blockchain company Ontology has partnered with Daimler Mobility with claims that it will “transform” the driving experience around the world. Daimler hosted a live event today in what is being described as a meeting of the most innovative minds in mobility solutions. Daimler Mobility AG’s Blockchain Factory and Ontology have joined forces to develop MoveX, a first-of-its-kind blockchain-based mobility platform for the automotive and mobility industry. It will utilise Ontology’s decentralised identity framework, ONT ID, to empower user roaming, bundling and sharing. The first product on the MoveX platform will be Welcome Home, which plans to solves the trade-off for users who want to have highly personalised experiences and diverse service integrations, while also preserving their data privacy and
09/24/2020 01:29 PM

Bitcoin trader Tone Vays calls for $9,000 bottom

Bitcoin will provide an important “buy the dip” opportunity if it descends into the $9,000 region, according to former Bear Stearns risk analyst Tone Vays. He does, however, admit that if $9,000 is broken to the downside, the worst case scenario would be a plummet to Bitcoin’s yearly open of $7,000. At the time of writing Bitcoin is trading at $10,400 after struggling to achieve a high above $11,000 over the weekend. On an episode of Market Pulse, Vays said: “If we break down, I think $9,000 is a very good buy the dip,” before adding: “What is my worst case scenario low point if we break down [below $9,000]? My worst case scenario is $7,000.” BTCUSD chart by TradingView
09/23/2020 04:28 PM

Paris Blockchain Week set for December despite rise in covid cases

Paris Blockchain Week Summit (PBWS) has announced that it will move forward with a hybrid event in December despite fears of a COVID-19 second wave currently tearing through France. PBWS co-host Michael Amar did admit that the “current situation calls for extraordinary levels of caution”, which is why the event will also be hosted online. Coin Rivet attended 2019’s iteration of Paris Blockchain Week along with 1,700 attendees from 57 different countries. The event will be hosted in Paris’ Station F venue, which is a renowned hub for start-up companies in Europe. While much of the conference will be showcasing the French regulatory framework and ecosystem, prominent speakers from the cryptocurrency industry will also take to the stage to discuss
09/23/2020 01:30 PM

Latest Bitcoin price and analysis (BTC to USD)

Bitcoin has continued to trade within a tight range around $10,500 since yesterday morning’s break down in price from $11,000. The world’s largest cryptocurrency, which now commands a market capitalisation of $193 billion, remains bullish from a macro perspective despite lower time frames beginning to indicate a further correction. Bitcoin’s current level is vitally important as this was a point of resistance on numerous occasions since an initial rejection last October. It took 10 months for Bitcoin to finally break above $10,500, with the rally being extended to as far as $12,500. If it can continue closing daily and weekly candles above $10,500, it would demonstrate that it is currently a key level of support, which will most likely provide
09/23/2020 09:00 AM

Panxora launches DeFi-focused hedge fund

Cayman Island-based fund manager, the Panxora Group, has announced that it will start accepting subscriptions for the launch of a quantitative hedge fund designed to generate profits from the rapidly growing decentralised finance (DeFi) market. As previously reported by Coin Rivet, the DeFi market has exploded over the past few months with tokens like YFI surging from $300 to $43,000 amid a wave of buyers on decentralised exchanges like Uniswap. Panxora hopes to give investors exposure to the DeFi market, with trading set to begin on Monday, November 2. It also hopes to manage volatility using its AI trading software, which is designed to give equal weight to profit generation and capital capital preservation. More news on how DeFi continues
09/22/2020 04:16 PM

Australian agriculture supply chain launches on Hedera Hashgraph

Australian agricultural supply chain platform, Entrust, has announced it will operate on Hedera Hashgraph, according to a press release shared with Coin Rivet. Entrust was launched on Sunday by South Australian Premier Steven Marshall. It has an initial focus on securing supply chain growth and trust in the high-value wine and dairy manufacturing industries. Hedera Hashgraph’s blockchain will ensure that Entrust can process geolocation and time-stamping at each stage of the agricultural supply chain in a timely manner. Entrust’s Technical Director, Rob Allen, said: “Australia produces almost 2 million tonnes of winegrapes each year. As winemakers see the benefits of securing their Wine Australia Label Integrity Program data on Entrust, it is important the system is fast, cost-effective, secure and
09/22/2020 10:49 AM

What’s the difference between SushiSwap and SakeSwap

Unless you’ve been living under a rock for the past couple of months, you will have heard about decentralised finance (DeFi), Automated market makers (AMM) and the plethora of yield farming protocols like Yearn Finance (YFI), SushiSwap and its subsequent forks like SakeSwap Tokens like YFI have exploded from as low as $34 in July to a quite remarkable all-time high of $43,647, which led to tweets from the likes of BitMEX CEO Arthur Hayes, who revealed his price prediction of $100,000 due to the token’s limited fixed supply of 30,000. ICO 2.0? In what seems eerily similar to the ICO boom of 2017, more and more yield farming protocols are being launched on a daily basis, but before we
09/21/2020 05:00 PM

Uniswap token (UNI) slumps back to $4 as hype subsides

Less than one week after the historic Uniswap token (UNI) airdrop, the price of the aforementioned token has started to dwindle. Despite being listed on Coinbase Pro, Binance and derivatives exchanges like FTX, UNI has succumbed to sell pressure after reaching a quite astonishing high of $8. Considering the majority of Uniswap users received a 400 UNI airdrop, which was worth around $1,200 on the day of release, the fact that is is trading above $4 does demonstrate its value. The value of UNI lies within its governance protocol that allows token holders to vote on key proposals, which may be financially beneficial for users in the future. The proposals can be viewed at Uniswap’s Governance Portal, with current proposals
09/21/2020 03:53 PM

Latest Ethereum price and analysis (ETH to USD)

Ethereum has endured a stuttering start to the week with a 9.12% move to the downside on Monday morning amidst a wider market sell-off. The world’s second largest cryptocurrency by market cap is now trading at $350 after bouncing from $331, which is notably 2019’s yearly high. It now needs to break back above $367 in order to avoid a prolonged period of downside price action, although much of it will depend on if Bitcoin can remain above $10,000 despite falling by 2.39% over the past 24 hours. ETHUSD chart by TradingView The difference between Ethereum and other cryptocurrencies is that Ethereum 2.0 will be rolled out this September, with hopes that it will improve security, scalability and efficiency. If
09/21/2020 02:16 PM

‘The system needs a reboot’ amid FinCEN leak, says Quant CEO

The financial industry is in turmoil today following the leak of crucial FinCEN data that alleges a series of wrongdoings by major banks across the world. The leaked documents, according to the BBC, state that HSBC moved millions of Dollars around the world despite being warned that those funds were the proceeds of a ponzi scheme. A leak of this magnitude will affect not only the traditional finance sector but also new entrants to the market like cryptocurrencies and fintech. Regulators and lawmakers will want to ensure that a watertight system is built across the board, which could well have an impact of the digital asset industry over the coming years. The CEO of blockchain technology firm, Gilbert Verdian, believes
09/18/2020 03:52 PM

Latest Bitcoin price and analysis (BTC to USD)

Bitcoin is setting its sights on a weekend breakout above $11,000 following a positive week that has seen it springboard from just beneath $10,000. Closing a daily or weekly candle above $11,000 would trigger a period of continuation to the recent high of $12,500, which remains a bitter point of resistance. The recent rise from $10,000 coincides with record-levels of investment from the likes of MicroStrategy, who revealed a $235 million purchase of Bitcoin earlier this week. This level of institutional investment has the potential to lift Bitcoin into a new paradigm, with the current market cap of $200 billion considered to be relatively small if Bitcoin truly becomes a store of value and a hedge to the traditional financial
09/18/2020 01:18 PM

MicroStrategy CEO reveals reason behind $235m Bitcoin investment

The CEO of business intelligence company MicroStrategy has explained why he has made such a noticeable u-turn on Bitcoin, with him recently hailing it as a store of value. In a series of tweets Michael Saylor revealed how MicroStrategy had acquired 21,454 Bitcoin ($235 million) before securing it in cold storage. “If Bitcoin is treated as a treasury reserve asset, based on our model, 99.98% of all transactions will be off-chain, and assets-at-risk will be in cold storage 99.92% of the time.” He wrote. The 55-year-old entrepreneur was also a recent guest on Anthony Pompliano’s weekly podcast, where he heaped praise on the world’s largest cryptocurrency. We acquired 21,454 BTC via 78,388 off-chain transactions, then secured it in cold storage
09/17/2020 04:33 PM

Latest Ripple price and analysis (XRP to USD)

Ripple’s XRP token is currently trading within a tight range with it using the daily 200 exponential moving average as support while the 50EMA is forming a point of resistance. At the time of writing the world’s fourth largest cryptocurrency by market cap is trading at $0.25092 after suffering a 3.91% sell-off from the $0.2598 level of resistance. This means that in spite of the recent downtrend from its local high of $0.329, XRP remains in a neutral position on lower time frames as it decides its next course of action. Breaking above the daily 50EMA and the $0.2598 level would set up a positive move to the upside, with the next level after that coming in at $0.2835. XRPUSD
09/17/2020 03:06 PM

Gibraltar updates regulatory status for DLT providers

The Gibraltar Financial Services Commission (GFSC) has announced a number of important updates to the jurisdiction’s bespoke Distributed Ledger Technology Providers (DLT) regulatory framework Guidance Notes. The updated Guidance Notes aims to offer further clarity on key areas while adapting to the fast-moving industry. The guidance also includes Financial Action Task Force (FATF) recommendations relating to virtual asset service providers (VASP) activities, in what is often described as the Travel Rule. Gibraltar’s Minister for Digital and Financial Services, the Hon Albert Isola MP, said: “Today marks another milestone moment for Gibraltar’s thriving DLT/VASP ecosystem, as we refine the regulatory framework that guides companies through the licensing process and beyond. “Our jurisdiction’s agility has been a hallmark of our success to
09/17/2020 10:51 AM

Coinbase lists Uniswap token (UNI) as it spikes to $4

San Francisco-based cryptocurrency exchange Coinbase has listed the freshly-minted Uniswap token (UNI) just hours after it was airdropped to thousands of Uniswap users. While the majority of Uniswap users received a 400 UNI airdrop, some liquidity providers and high frequency traders received up to half a million Dollars in UNI tokens, making it by far the largest airdrop in cryptocurrency history. Coinbase confirmed that it will list UNI on its professional trading platform, Coinbase Pro, with it being rolled out in three phases: Post-only, limit-only and full trading. Full trading will begin once liquidity requirements are met, which in theory shouldn’t be difficult considering how many users received the airdrop. UNI is designed to be a governance token for the
09/16/2020 06:00 PM

Latest Bitcoin Cash price and analysis (BCH to USD)

Bitcoin Cash has continued its troublesome year of price action as it struggles to trade above the $248 level of resistance. It has now fallen by 32.22% since the high of of $338 at the start of August, with it also sliding significantly against its Bitcoin trading pair. Bitcoin Cash’s market cap currently stands at $4.3 billion, which is staggeringly 94.9% lower than its all-time high of $62 billion when it was released in December 2017. While the wider cryptocurrency market seems to be entering a bullish phase, spurred by the rise in popularity surrounding decentralised Finance (DeFi), Bitcoin Cash seems destined for a further correction to the downside. It’s worth noting that $204 is a fairly staunch level of
09/16/2020 04:39 PM

Ava Labs launching Avalanche platform on September 21

Avalanche is launching its scalable mainnet platform for launching decentralised finance (DeFi) applications next Monday, September 21. As previously covered by Coin Rivet, Avalanche is one of the first smart contracts platform that confirms transactions in less than one second, while enabling millions of validators to participate as full block-producing nodes. The platform’s token, AVAX, is used to secure the network through staking as well as to pay for operational fees. “Monday will mark the beginning of a new era for cryptocurrencies, blockchains, and decentralised applications,” says Emin Gün Sirer, Co-Founder and CEO of Ava Labs. “Avalanche is the first major breakthrough in our space since Satoshi’s leap forward, and we intend to follow in their footsteps to have the
09/16/2020 12:58 PM

Copper continues global expansion with three acquisitions

Digital asset custody provider Copper has appointed three new senior executives to lead the company’s global expansion. Michelle Lai, Jonathan Tse and Doug Bilyk bring expertise from across the financial services landscape, from institutional asset management, traditional trading and private equity, through to cryptocurrency trading and fintech. Singapore-based Michelle Lai joins Copper as the Senior Strategic Advisor for the Asia-Pacific region after she has spent six years working with different fintech companies in Asia and Silicon Valley. Jonathan Tse, who will serve as a Head of Trading in Hong Kong, has over nine years of experience in trading and financial markets. Most recently he was the Head of Trading at Coinsuper, a Chinese digital asset trading platform, and prior to
09/15/2020 04:31 PM

Ledger launches self-custody staking for Algorand

Hardware wallet provider Ledger has announced support for Algorand (ALGO) and Algorand Standard Assets (ASA) in its software application, Ledger Live. The platform’s users will be able to securely hold, transact, manage, and stake ALGO directly with their smartphones or desktop using Ledger Live. After announcing the staking feature last year, Ledger continues to add new staking options: Algorand (ALGO) becomes the fourth staking option available in Ledger Live in addition to Tezos (XTZ), TRON (TRX), and COSMOS (ATOM). The benefit of staking ALGO via Ledger instead of an exchange or wallet is that users retain full control of their private keys. Algorand Wallet users now have more control and flexibility with the release of Algorand's new #Rekeying feature! For
09/15/2020 03:12 PM

CoinCorner CEO: Facebook needs to do more to prevent crypto scams

The CEO of cryptocurrency exchange CoinCorner, Danny Scott, has criticised Facebook and Twitter for failing to prevent the rising trend in cryptocurrency-related scams. Scott’s comment come after the exchange was recently the target of an aggressive phishing scam on Facebook, with fraudsters creating more than 100 new business pages before tagging genuine followers/friends/family of the company in misleading posts. The scam informed people that they had just won a “bonus” and that they needed to follow a link to claim it. This has since been resolved and customers are no longer at risk thanks to the host websites’ having removed the site after CoinCorner’s team reported it. However, the situation has caused frustration due to the lack of support from
09/15/2020 01:32 PM

Latest Ethereum price and analysis (ETH to USD)

Ethereum is showing signs of strength as it trades back above the $366 level of resistance turned support. The world’s second largest cryptocurrency is currently trading up at $378.58, which is 19.94% higher than the low of $317 on September 5. The significant rise in the price of Ethereum over the past 10 days coincides with the recovery in the DeFi sector, spurred by Yearn Finance (YFI)’s recent hike above $40,000. With the majority of DeFi products being based on Ethereum’s blockchain, it’s natural that the underlying asset will rise will surge as positive sentiment in DeFi returns. The recent SushiSwap saga has demonstrated the fragility and immaturity of the DeFi market, with several investors losing out before FTX CEO
09/14/2020 08:00 PM

Analyst hails Bitcoin’s maturity after holding above $10,000

Bitcoin has doggedly recovered to a historical level of resistance this morning following a prolonged period of consolidation in the $10,000 region. eToro market analyst Simon Peters believes that while market sentiment isn’t as positive as it once was, the recent recovery shows a level of market maturity. Peters said: “Despite the drops we saw throughout last week, we failed to see a close below $10,000 and although the sentiment in the community is clearly not overly bullish, I would say that it remains relatively neutral. That doesn’t always make for the most interesting story, but it does show a certain level of maturity in the sector. “Despite the discussed sub-$10,000 drops, bitcoin’s on-chain metrics continue to be bullish: the
09/14/2020 06:16 PM

Latest Ripple price and analysis (XRP to USD)

Ripple’s XRP token has endured a relatively calm weekend of price action after its 25.43% descent from August’s high of $0.327. At the time of writing XRP is trading at $0.2437, which is crucially below the daily 50 EMA and above the 200 EMA. The 200 EMA is vital as this has been a key point of resistance since the 2018 bear market, with XRP trading above it for just three weeks between July 2019 and July 2020. Being able to use it as support would likely trigger a move back to the upside, with $0.2598 being a notable level to keep an eye on. However, while a short-term relief rally to as high as $0.283 would be welcomed by
09/13/2020 02:02 PM

Wave’s whiskey fund buys first tranche of Kentucky bourbon

Wave Financial Group (Wave) has announced that it has received its first round of investment from clients and has brought 1,000 barrels of Kentucky bourbon whiskey from the Wilderness Trail distillery. The latest development will offer investors exposure to a real asset that would be exceptionally difficult. Investors will also  benefit from the potential uplift in value throughout the premium whiskey’s ageing process. Earlier this year Coin Rivet reported on Wave’s initial announcement, with estimations reaching 25,000 barrels of 2020-vintage bourbon, equating to a year’s worth of production. A unique and innovative characteristic will be the tokenisation of the holding in year two.  It is envisaged that investors will hold for the full 5 to 6 year ageing period before

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