As ProgPoW Aimed at Stopping ASIC Mining Gets Supporting Votes, New Conspiracies and Debates Appear

Ethereum (ETH) network users have unanimously supported the ProgPoW algorithm, which is expected to make the platform resistant to application-specific integrated circuit (ASIC) miners. Initially, opponents of the update prevailed over supporters by a margin of 96 percent, according to a Cointelegraph report on Feb. 15. The current scenario is exactly opposite, with 94 percent of voters favoring the implementation of ProgPoW, as evidenced by the Etherchain charts. What is ProgPoW? Simply put, ProgPoW is a version of the proof-of-work (PoW) algorithm, which is supposed to smooth the transition of…

Cryptocurrency Community Eyes Tether After Website Dilutes USD Backing Claims

Developers behind stablecoin Tether (USDT) have drawn scrutiny today, March 14, after social media users noticed they had removed previous claims that the altcoin was fully backed by United States dollars. Tether, which has faced various publicity hurdles over the transparency of its holdings, had de facto guaranteed that each of its USDT tokens had an equivalent 1 USD in the bank. Intended as the opposite to fractional reserve banking, as Cointelegraph reported in December last year, documents had further confirmed the validity of Tether’s backing claims. Now, however, a…

Court Rules Quoine Exchange Liable for Reversing Bitcoin Trades Worth Millions

The Singapore International Commercial Court has ruled against cryptocurrency exchange Quoine after it reversed trades for a total of 3,092 bitcoins (BTC) by crypto market maker B2C2 two years ago. The court published a case summary Thursday, stating that it found Quoine liable for the “breach of contract and breach of trust” in reversing B2C2’s trades made at an “abnormal” exchange rate back in April 2017. B2C2 had made seven trades in which it sold ether (ETH) at an exchange rate of 10 BTC per token – approximately 250 times higher…

Bitcoin Is a Technology, Not a Business Opportunity, TRON CEO Tells Mainstream Media

Criticism of Bitcoin (BTC) by big business is misplaced, blockchain developer network TRON’s CEO Justin Sun told CNBC in an interview on March 13. Speaking to the network about the general state of the cryptocurrency markets, Sun, who is also CEO of BitTorrent after the company bought the file sharing network in June 2018, said their appeal to the younger generation remained unchanged by the current bear market. “Even if Warren Buffett, he dislikes Bitcoin, but still I think this is a very good opportunity for the younger generation,” he…

Bitcoin is Cheap Until April, We’ll Never See Price at $3,000 Again: Trader

Despite being down 80 percent from its all-time high, a fairly large number of investors are still cautious and shorting bitcoin in a low price range. Bitcoin shorts achieved a 3-week high earlier this week, demonstrating a  lack of confidence of investors in the cryptocurrency market in the near-term performance of bitcoin. 1-Month Price Chart of Bitcoin (Source: Coinmarketcap.com) But, according to a trader known to the cryptocurrency industry as “Galaxy,” bitcoin at $3,000 may be a rare opportunity that does not come again in the future. Why $3,000 For…

Crypto Platform DX.Exchange Adds Secondary Trading of Security Tokens

DX.Exchange, an Estonia-based platform that soft-launched in January, has opened its market to secondary trading of security tokens.  Announced today, the exchange now allows companies to list their security tokens previously issued on other platforms. Institutional investors in Europe can purchase the tokens on the exchange for fiat, bitcoin, ether, tether and XRP. However, to start with, only one such token will be listed on DX.Exchange – its native IGWT token. Eventually, the platform’s co-founder Daniel Skowronski told CoinDesk, the company will roll out its own technology for asset tokenization, but for now,…

Nasdaq-Powered EU Digital Exchange DX Launches Security Token Trading

Estonia-based Nasdaq–powered digital trading platform DX.Exchange is claiming an industry first with its launch of security token trading and security token offering (STO) listings. The development was shared with Cointelegraph in a press release on March 14. As previously reported, DX.Exchange went live in January, with support for various fiat and cryptocurrency trading pairs and tokenized stocks. In March, the platform added tokenized exchange-traded funds (ETFs) to its supported products. According to the press release, the platform now allows investors to purchase security tokens using both fiat and major cryptocurrencies…

Bitcoin (BTC) Price Watch: Upside Break Inevitable Above $3,900

Bitcoin price is trading nicely above the $3,825 and $3,800 support levels against the US Dollar. The price is likely positioning for an upside break above the $3,880 and $3,900 resistance levels. Yesterday’s highlighted important bearish trend line is in place with resistance at $3,860 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could surge higher once it clears the $3,860 resistance and the 100 hourly SMA. Bitcoin price is setting up for the next key break against the US Dollar. BTC could either…

Crypto Market Trading Sideways: XLM Shoots Up, Bitcoin Cash, EOS, TRX Analysis

The total crypto market cap is facing a strong resistance near the $129.0B and $130.0B levels. Bitcoin cash price recovered above the $132 resistance and it could climb towards the $135 level. EOS price is back above the $3.60 level, with a positive angle. Stellar (XLM) price gained more than 5% and broke the $0.1000 and $0.1050 resistances. Tron (TRX) is trading above the $0.0220 level and it could test the $0.0230 resistance. The crypto market is trading sideways below key resistance levels. Stellar (XLM) gained recently, while bitcoin (BTC),…

Ripple Price Analysis: XRP Turned Buy On Dips After Upside Break

Ripple price rallied recently and broke many key resistances near $0.3080 against the US dollar. The price even settled above the $0.3100 resistance and the 100 hourly simple moving average. Yesterday’s highlighted key bearish trend line was breached with resistance at $0.3085 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair rallied towards the $0.3250 resistance level and later corrected lower sharply. Ripple price moved nicely into a bullish zone against the US Dollar and bitcoin. XRP/USD is trading above the $0.3100 support and it…