Cryptocurrencies are mixed as prominent crypto analyst Tom Lee says Ethereum has bottomed out and is set for a trend reversal
Sep 28, 2018
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- According to the head of research at Fundstrat, Tom Lee, Ethereum is on the verge of a trend reversal that will see the altcoin rally up to USD$1,900 per token by the end of 2019. Tom Lee discussed in a note to clients of Fundstrat that Ethereum has experienced “overly negative” sentiment in 2018 and that will serve as a basis for its strong rebound to come. At the time of this writing, Ethereum is trading at USD$225 per token.
- An analysis conducted by blockchain data analyst, Antoine Le Calvez, reveals that an early miner of Bitcoin has managed to sell approximately 30,000 Bitcoin between December 2016 and January 2018. Calvez cites that this individual is likely one of the earliest miners of Bitcoin.
- Austria will issue 1.15 billion euros worth of government bonds in a federal bond auction that will utilize blockchain notarization. Overseeing the auction will be Austria’s Oesterreichische Kontrollbank (OeKB), who will leverage the public Ethereum blockchain to carry out the blockchain notarization.
- Chine city Nanjing’s arbitration body, the Nanjing Arbitration Committee, announced Thursday that its online blockchain platform for depositing and storing data in legal disputes has gone live for its testing phase. Users that can be upload data to the online blockchain platform includes evidence deposition platforms, financial institutions, and other arbitration committees. The system will allow parties to view digital evidence simultaneously over a tamper proof and distributed network.
- Despite China’s blanket ban on cryptocurrency trading and initial coin offerings (ICO), Chinese investors still have an easy time purchasing cryptos and ICOs. According to a report by Bitcoinist, Chinese investors can easily buy mainstream cryptocurrencies like Bitcoin by logging into a platform for over-the-counter transactions and using apps like WeChat or Alipay to pay. Chinese investors can also convert their fiat currency to stablecoin Tether by leveraging direct peer-to-peer transactions, which can then be used to buy cryptocurrencies.
- Swiss-based asset management firm, Tiberius Group AG, has announced that it will introduce a cryptocurrency backed by precious metals. Tiberius Group plans to issue their Tiberius Coin that will trade on a blockchain ledger and be tied to the price of copper, aluminum, nickel, cobalt, tin, gold, and platinum. CEO Giuseppe Rapallo said the Tiberius Coin will likely be offered at around USD$0.70 per token. The Tiberius Coin will be issued on LATOKEN, an Estonian exchange that meets “necessary regulatory standards.”
- The world’s first advanced blockchain identity laboratory and Europe’s first dedicated blockchain research facility launched in Eidinburgh, the capital of Scotland. Called the Blockpass Identity Lab, the blockchain research facility will focus on exploring ways blockchain technology can be implemented to protect personal data online. The blockchain research laboratory is part of a £600,000 joint venture between Hong Kong-based Blockpass IDN and Scottish University, Edinburgh Napier University.
- The United Nation’s Capital Development Fund (UNCDF) and their Development Program (UNDP) are partnering with the nation of Sierra Leone and technology profit, Kiva, to develop and launch a blockchain-based identification system. The project aims to “modernize the credit bureau” with Sierra Leone being chosen because the country only has one credit bureau that serves just 2,000 people. 80% of Sierra Leone’s population is unbanked.
- The United States Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have announced they are suing 1Broker, a Marshall Islands-based securities dealer who allegedly violated federal laws through a bitcoin security swap scheme. The SEC is claiming that 1Broker is not a registered security-based swaps dealer while they also failed to list its security-based swaps on a national exchange. Investors were only able to purchase this product with Bitcoin.
- US based cryptocurrency exchange and wallet, Coinbase, has rolled out their new “Coinbase Bundles”, a product designed to simplify cryptocurrency trading. The Coinbase Bundle is a product that baskets five of the largest cryptocurrencies supported by Coinbase, including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ethereum Classic. The Coinbase Bundle baskets these five cryptos in proportion with market capitalization with a minimum purchase size of USD$25.
- Zebpay, once India’s largest cryptocurrency exchange, gave just a few hours notice in announcing that it would be halting all trading services today. In a tweet, Zebpay said that it would halt its exchange service while cancelling all unexecuted orders while crediting the funds to users’ wallets. Zebpay cited in a blog post that this decision comes in wake of the ban by India’s central bank that prohibits domestic banks from offering financial services to crypto exchanges.
*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio