Tron (TRX) Revival Adds 6.2%, Reacting From Q1 Peaks

Tron (TRX) reacts from 3.1 cents, adds 6.2 percent After Justin Sun’s efforts, Tron is dominating in terms of dApp activity Reaffirming the presence of buyers, yesterday’s support at 3.1 cents is a mark of bulls. It is an intervention and the basis for a TRX possible expansion to above 4 cents reflecting buyers of May 2019. At the time of press, TRX is up 6.2 percent from last week’s close. Tron Price Analysis Fundamentals The era of smart contracting is all thanks to Ethereum. By building the frame works…

Bitcoin’s Stunning Growth Makes it Investable: Legendary Hedge Fund Mgr

Mark Mobius, an emerging markets fund manager and the founder of Mobius Capital Partners, said that if bitcoin continues to grow at the current rate, he would consider investing in the dominant crypto asset. Earlier this month, Mobius said that every portfolio needs to hold ten percent of gold to hedge against the global economy and the performance of the equities market. Is bitcoin as a store of value narrative strengthening? On Bloomberg Daybreak: Middle East, Mobius said that despite the presence of geopolitical risks as a result of the…

KuCoin Launches Bitcoin Derivatives Trading With 20x Leverage

IDG-backed cryptocurrency exchange KuCoin has just launched a platform offering crypto derivatives trading. Announced Monday, the KuMEX trading venue is now live in public beta and will offer initially a bitcoin perpetual contract (XBTUSDM), quoted in U.S. dollars, with up to 20x leverage. Aimed to make pricing “more fair and rigorous,” KuCoin said, KuMEX uses a bitcoin spot index providing a volume-weighted average of the U.S. dollar price of bitcoin across six exchanges: Coinbase Pro, Bitstamp, Kraken, Gemini, Liquid and Bittrex. The spot index also avoids a contract being liquidated “because of the…

Bitcoin Price Nears $12K After Rising $500 in Minutes

View BTC could rise to key resistance at $12,061 in the next few hours, as the hourly chart is reporting a symmetrical triangle breakout. A  high-volume break above $12,061 would invalidate the bearish lower-highs pattern and open the doors to the recent high of $13,880. However, a break with low volumes could turn out to be a bull trap, especially as the weekly chart indicators continue to report overbought conditions. On the downside, a move below $10,769 (July 5 low) would expose last week’s low of $9,615. Bitcoin leaped into…

Bitcoin News Summary – July 8, 2019

Here’s what happened this week in Bitcoin in 99 seconds.  eToroX, the specialized blockchain division of social trading platform eToro, has announced the launch of the first five of 120 ERC-20 tokens. ERC-20 is a technical standard that sets rules for tokens launched on the Ethereum or related blockchains. The new tokens include two eToro stablecoins and three crypto assets: Maker, Basic Attention Token and OmiseGO. South Korea’s Shinhan Bank will impose stricter rules and monitoring on bank accounts related to any crypto trading. A string of hacks and…

High-Frequency Trading Is Newest Battleground in Crypto Exchange Race

The Takeaway High-frequency trading (HFT), a longtime and controversial practice in traditional markets, is becoming commonplace in crypto, too. Placing trading servers physically close to exchanges’ matching engines can win an edge on speed. This helps HFT firms make large profits in the legacy markets. Crypto exchanges such as ErisX, Huobi and Gemini are trying to attract large algorithmic traders with colocation offers. Demand for the service is high, but its benefits are a matter of debate, due to the structure of the crypto market. A handful of cryptocurrency exchanges…