The SEC Temporarily Suspended Trading in Bitcoin Generation Miner’s Shares

The U.S. Securities and Exchange Commission (SEC) is temporarily suspending trading of shares in a little-known, self-described crypto exchange and mining firm called Bitcoin Generation (BTGN).

The regulator announced Monday that it was suspending trading until 11:59 P.M. Eastern Daylight Time on May 10, 2019 (or 03:59 UTC May 11) due to concerns that some information BTGN has made public may be inaccurate.

Specifically, the SEC is concerned about a bond that BTGN “purportedly acquired from an entity based in the United Kingdom”; how much BTGN stock is outstanding; promotional activity related to BTGN; and the “accuracy and adequacy...


Blockchain Slashed Forex Trading Costs by 25% says HSBC Exec

An HSBC executive has said that the bank’s blockchain-based system has helped it cut the costs of settling foreign exchange trades.

Speaking to Reuters, Mark Williamson, chief operating officer of FX cash trading and risk management, who oversees the blockchain project, said that its HSBC FX Everywhere platform saved it 25 percent as compared with traditional methods.

Last month, the bank announced it had settled more than $250 billion in transactions using its HSBC FX Everywhere platform.

It said then that it had settled 3 million foreign exchange transactions and made a further 150,000 payments over the digital ledger system, which it has been using...


A New Kind of Crypto Exchange LIQNET.COM

LIQNET.COM is quite different to any exchange you have seen before. Using its own LEN mechanism, the Singapore-based project pools orders from other platforms into one single interface and allows users to trade at the best prices and minimum spread. Why is liquidity important for an exchange?

According to the Blockchain Transparency Institute (BTI), more than 80% of the volume exchanges show is faked. Besides raising concerns about the transparency and business practices of current trading platforms, this underlines a fundamental problem of insufficient liquidity in a bear market. During abrupt market movements, crypto is famous for, low liquidity basically means that you will not be able to buy or sell a significant amount of coins and miss out on profits or even lose money. If you aim to sell a large amount of coins, doing this without toppling the price can be problematic. LIQNET with its liquidity aggregation may be an answer to the problem that has been plaguing the market for some time now.

Сalling LIQNET an exchange would be inaccurate, rather, it is an exchange aggregator. LIQNET uses public APIs of other crypto exchanges to collect purchase and sale bids into a single order book. This allows users to get the benefit of trading on several exchanges, eliminating...


NEO Cypto trade recommendation $NEO #NEO

On our August 29, 2018 trade recommendation, we anticipated NEO/Bitcoin (NEO/BTC) to breakout from the large falling wedge on the daily chart. We emphasized the importance of buying only after the pair generates volume of 1 million NEO units. Without heavy volume, the breakout would not look convincing to breakout traders and trend followers. Hence, there wouldn’t be enough momentum to ignite a massive rally.

Though NEO/BTC broke out from the falling wedge as expected on August 31, the volume it printed was way below our requirements. As a result, the breakout rally was short-lived since bottom fishers saw the low volume breakout as an opportunity to take profits. The selling drove the market down. Nevertheless, this gives us a chance to buy the bottom before NEO/BTC takes off.

Technical analysis shows that NEO/BTC is respecting the historical support of 0.00245. This view comes after the pair successfully completed the retest when it dropped to as low as 0.00239 on October 15 but bulls came to the rescue and lifted the market above the support. We watched NEO/BTC from that point to see if the support will hold. The confirmation came on October 18 when volume suddenly surged. This was a signal that participants are comfortable accumulating at this level.

More importantly, the daily RSI appears to have printed a new higher low at 32.6. This is an encouraging sign as it shows that participants are no longer waiting for extreme oversold readings before entering long positions.

The strategy is to buy as close to 0.00245 support as possible. As long as the market remains above this level, it has a very good chance to rally to our initial target of 0.0034 and then 0.0046.

The process may...


TransferGo is The Worlds First Remittance Service to Add Crypto Trading

UK Remittance Service TransferGo Adds Crypto Trading

UK-based service TransferGo has reportedly become the world’s first remittance operator to offer crypto trading, Bloomberg reported July 27.

TransferGo now lets customers buy and sell five major cryptocurrencies –– Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), and Litecoin (LTC).

According to TransferGo CEO and founder Daumantas Dvilinskas, the crypto trading option was launched “in response to demand from our user base”:

“With over 4,000 users signing up in the first few hours we can see there is a strong demand in...


The Yuan Now Accounts for Less than 1% of Bitcoin Transactions

China’s comprehensive ban on cryptocurrency trading has had its desired effect: the yuan renminbi now accounts for less than 1% of global bitcoin transactions.

Yuan Transactions Down

Once the dominant quote currency for bitcoin, the yuan is no longer being used to facilitate fiat-to-crypto trades, according to new data from the People’s Bank of China (PBOC). The central bank disclosed the data Friday through the state-run Xinhua news agency, which showed that the yuan accounts for less than 1% of bitcoin trades from a peak of more than 90%.

Last September, China’s central bank issued a blanket ban on domestic cryptocurrency exchanges and announced a zero-tolerance policy for initial coin offerings (ICOs). Over the past ten months, regulators have also stepped up efforts to limit access to foreign digital currency exchanges.

The PBOC says it has ensured a zero-risk exit for 88 cryptocurrency exchanges and 85 ICO trading platforms, according to Xinhua.

A blockchain analyst by the name of Zhang Yifeng believes that China’s ban had a positive impact on price volatility:

“The timely moves by regulators effectively fended off the impact of sharp ups and downs in virtual currency prices and led the global regulatory trend,” Zhang said, as quoted by Xinhua.

Though...


Monero's Lead Developer Is Helping Launch a Crypto Trading Protocol

Loyalty points, concert tickets and in-game items will soon appear on a new protocol built on the monero network.

Called Tari, this new digital assets protocol will help support non-fungible tokens - tokens with unique properties, such as tickets with ownership information (think CryptoKitties) - said co-founder Naveen Jain.

Monero project lead Riccardo Spagni, more commonly known as fluffypony, and entrepreneur Dan Teree are also part of the founding team, Jain told CoinDesk.

Tari's goal is to "support any kind of digital assets." For example, one use case for the protocol would be to allow digital asset issuers to participate in the secondary market - meaning resales in particular.

However, the protocol can also support items in video games or even native assets, Jain said, adding:

"If you have a decentralized distributed trustless system that supports non-fungible tokens that enforces the rule...


Trade Recommendation: Populous

The Populous/Bitcoin (PPT/BTC) pair launched its uptrend on January 7, 2018 when it took out resistance of 0.0032. This triggered the cup and handle reversal pattern on the daily chart. The breakout attracted so much momentum that the pair quickly became parabolic. With its supercharged velocity, PPT/BTC skyrocketed to 0.007901 on January 31. In less than a month, the market rose by almost 147%.

At this price point, the pair was in extreme overbought territory. Those who bought the breakout took the opportunity to lock in gains. This ignited a massive selling frenzy that drove the pair down to 0.0015159 on March 9.

The higher the climb, the greater the fall. This is what often happens to any asset that goes parabolic.

Fortunately for bottom pickers, PPT/BTC rallied to slightly over 0.0032 resistance on April 17. While the market has been pulling back since, it appears that bulls are beginning to make their presence felt.

Technical analysis reveals that Populous/Bitcoin is carving a bullish higher low setup at 0.0017. Volume began to spike on May 15 when the pair hovered above this level and it remained elevated for the next seven days. This tells us that bulls are ready to buy positions at higher price point. More importantly, PPT/BTC managed to stay above 0.0017 even in the midst of intense selling pressure.

The strategy is to bottom fish the market and buy as...