Bitcoin Plunges to $5400: 12 Month Low, Market Sheds $25 Billion

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Bitcoin hits a historic 12 month low of $5400. The pre-eminent cryptocurrency has cratered 11 percent just within the last four hours. The enormous drop in price appears to be driven by major Bitcoin and derivatives exchange BitMEX, representing 34 percent of 24-hour market volume. The bear market continues. Following the hysteria experienced during the…

Trade.io Acquires Primus Capital Markets to Offer BTC-Backed Forex Trading

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Trade.io, a cryptocurrency exchange and investment company, has acquired British brokerage firm Primus Capital Markets Ltd for an undisclosed amount. The new subsidiary is to start trading foreign currency using digital assets as base currency under a new name, TIO Markets. Initially, customers will be able to make deposits and withdrawals in bitcoin core, ethereum,…

As 'Plasma' Stalls, SNARKs Become New Hope for Scaling Ethereum Now

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As work on ethereum’s Plasma scaling solution proceeds, some developers are hailing a form of cryptography used by zcash as an alternative.

China Updates Crypto Ranking, Downgrades BTC Further

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China’s Center for Information Industry Development has updated its ranking of 33 crypto projects, evaluated in three separate categories as well as overall. BTC has been downgraded further since the center’s previous update while EOS and Ethereum still top the overall ranking. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space New Ranking The China…

Early-Access Launch of USD-Pegged Cryptocurrency StableUSD Announced by Stably

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Stably, a venture capital-backed startup seeking to bring stability to the cryptocurrency market is launching an early-access sale of a price-stable cryptocurrency that is pegged and fully backed 1:1 by the U.S. dollar, the StableUSD (USDS) stablecoin, the company announced in a press release on Oct. 31. Stably Launches Early-Access StableUSD Sale The Stably developer…

J.P. Morgan to Use Ethereum-Based Quorum for Tokenizing Gold Bars in Pilot Experiment

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J.P. Morgan’s Quorum blockchain, an enterprise-grade DLT solution built on Ethereum, is being deployed for tokenizing traditional assets to test the robustness of blockchain technology, reported Financial Review on Oct. 29, 2018. Tokenizing Gold Bars The New York-based investment bank will leverage blockchain technology for tokenizing gold bars to allow miners to earn premiums on…

Joseph Lubin Goes in to Bat for Blockchain on CNBC, Says Ecosystem “Stronger than Ever”

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While blockchain starts to pepper mainstream media with pervasive force, cryptocurrency pricing seems yet to shake its status as the mouthpiece of progress for the entire industry. CNBC, for one, recently queried Ethereum co-founder Joseph Lubin on whether digital currencies were on their last legs. Clearing the air with a wry chuckle, Ethereum Co-Founder Joseph…

Has Ethereum Bottomed Out? Report From Major Trading Firm Says So

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According to Genesis Global Trading, a major cryptocurrency investment firm that targets institutional investors, short interest towards Ethereum (ETH) has declined substantially in the third quarter of 2018. Since March, the firm loaned out $553 million in digital assets including Bitcoin and Ethereum to hedge funds and alternative investment companies. Around 60 percent of the…

$50 Million Bitcoin Mining Farm Opens in Armenia

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A new cryptocurrency mining facility opened in Armenia on Oct. 18. The $50 million farm will extract bitcoin and ethereum using 3,000 machines, according to local media reports. Around 120,000 more miners are to be added in the months to come. Also read: Marks Jewelers Now Accepts Bitcoin Cash For Payments Multi Group and Omnia Establish…