Cryptocurrency Morning Brief

Jun 01, 2018
  • Iota has partnered with Norway’s largest financial group, DNB ASA. The financial firm signed a Memorandum of Understanding with the IOTA foundation and the firm is looking to incorporate Iota’s tangle technology. Also this week, Iota partnered with the United Nations and has said that they will announce another partnership this week known as the “Q” project. Iota is up 25.89% over the past 5-Days, and Quantamize has a “Buy” signal currently for Iota on a rolling 3-day forecast
  • ASUS announced that it has updated its Mining Master which will now support up to 20 graphic cards. The target with this new mining set up is for the serious cryptocurrency miners who are looking for a higher level of mining efficiency. There have been critics of the GPU mining market as of late since individuals believe the powerful miners centralization
  • Cryptocurrency exchange firm, Huobi, is launching a cryptocurrency exchange traded fund that will allow retail investors to diversify exposure across multiple cryptocurrencies. Quantamize CryptoFolios offer an optimized portfolio of cryptocurrencies with flexibility to adjust the composition of coins in the portfolio The firm said that the instrument will be called HB10, which is now open for subscriptions, and that the firm is accepting cryptocurrency payments instead of fiat currencies. The ETF will replace the Huobi 10 index which tracks 10 different cryptocurrencies on the Huobi Pro exchange
  • Square’s (SQ) stock has more than doubled in the last year and is up close to 50% since the firm began offering Bitcoin trading to its customers. Square is reportedly looking to get a Bitlicense from NY state which will allow the firm to conduct business in one of the most populated states
  • ImToken Pte., a Chinese startup has developed a cryptocurrency wallet application that has more than 4mm users and has stored USD$35bn of crypto assets over the past year, more than Coinbase. ImToken announced Series A funding this week. The application’s users have accounted for roughly 10% of the average daily activity on the Ethereum blockchain this year and about 21% of activity in May. The firm has mentioned it will expand to institutional investors after increasing security
  • Mining firm Bitmain has received criticism over its latest mining product, the AntMiner B3 by the Chinese cryptocurrency community about its marketing tactics and quality controls. The new product is dedicated to mining Bytom (BTM) which released its blockchain MainNet at the end of April. The AntMiner B3’s specifications stated that it had a computing power of 750 hashes per second which is now said to have been significantly exaggerated. Miners have alleged it can produce 500-600 hashes per second which significantly lowers profits for miners

Sources:

https://www.newsbtc.com/2018/06/01/asus-announces-20-gpu-motherboard-cryptocurrency-mining/

https://www.newsbtc.com/2018/06/01/iota-partners-norways-biggest-financial-group-causing-price-surge/

https://www.newsbtc.com/2018/06/01/iota-partners-norways-biggest-financial-group-causing-price-surge/

https://www.bloomberg.com/news/articles/2018-05-31/crypto-wallet-that-lured-35-billion-in-a-year-wins-idg-backing

https://www.coindesk.com/bitmains-new-antminer-is-drawing-criticism-from-early-chinese-users/