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? Daily Crypto News, July, 29th?

July 29, 2019 (updated July 29, 2019) Published by
  • CoinLaunch Reaches $50,000 Settlement With Ontario Securities Commission ;
  • Perverse Outcomes: FATF, Bitcoin and Financial Exclusion ;
  • The Facebook Libra Hearings: Everything You Missed in 5 Minutes ;
  • CoinLaunch Reaches $50,000 Settlement With Ontario Securities Commission ;
  • Bill Miller Hedge Fund Surges 46% Thanks to Bitcoin, Amazon ;
  • ? Daily Crypto Calendar, July, 29th?
  • STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

? CoinLaunch Reaches $50,000 Settlement With Ontario Securities Commission

As Bitcoin dropped an additional 8% on Saturday, naysayers claim the rally to a new all-time high is over. So what is it that’s keeping market analysts bullish in the face of a 33 percent correction? 


Bitcoin price bears draw a line at $10,000


Bitcoin’s most recent price action has been less than satisfactory, unless you’re a bear. To date, the top digital asset is down 32% from it’s 2019 high of $13,739 and short term price action remains overwhelmingly bearish.  

Over the past two weeks Bitcoin formed an M-top at $13,739 and $13,177 before dropping to the neckline around $9,600. Most traders expect that Bitcoin will retrace to the 61.8% and 50% Fibonacci Retracement level which is also near the CME futures gap. It’s possible that the group think surrounding the CME gap is causing it to function as a magnet, drawing BTC price nearer to the $8,500 – $7,500 range. 

BTC/USD

Dormant Bitcoin wallet address hit new all-time high

Earlier this week Coin Metrics released a report showing Bitcoin’s untouched supply reaching a new all-time high of 21%. 

Not everyone supports this conclusion, however. Adamant Capital founding partner Tuur Demeester countered saying that: 
“I’m not so sure […] 5 years without updating your cold storage method is a long time in Bitcoin. Imo most of these coins are likely lost.”

BTC Untouched Supply

Start of new bull markets coincides with miner capitulation, data shows

On Saturday expert crypto-analyst PlanB tweeted a rather intriguing chart that he and ParabolicTrav worked on.

Bitcoin bull markets start at difficult bottom

According to the analysts, after a BTC/USD rally reaches its peak, a massive amount of Bitcoin is available at lower prices. The start of new Bitcoin bull markets have coincided with miner capitulation and Bitcoin price tends to rise from these bottoms to grow 100 times. 

According to PlanB:

“We saw difficulty bottoms (miner capitulation) in Dec 2011 ($4.6), May 2015 ($230) and Dec 2018 ($3,896). Price continues to rise from these bottoms until ATH around 100x […] Implying a continuing uptrend until $370,000 ATH.” 

? Perverse Outcomes: FATF, Bitcoin and Financial Exclusion

In last week’s column — my third on Libra — I referred to a core dilemma confronting the cryptocurrency project’s financial inclusion goals: the impossibility of being both pro-privacy and pro-KYC.


I promise a break this week from Libra and its controversial founder, Facebook. But I want to dive deeper into that dilemma because the problem is hardly unique to that project. As “know-your-customer” rules have steadily encroached into their world, all cryptocurrency startups trying to expand financial access for the poor are hamstrung by requirements to identify and track the people they seek to serve.


This contradiction stems from tough policies contained under Anti-Money Laundering and Combating the Financing of Terrorism rules (AML-CFT), which were tightened worldwide after the September 11 attacks in 2001 and then again after the financial crisis. Since virtually every bank needs access to dollars, KYC rules everywhere tend to follow models laid down in the U.S. Bank Secrecy Act and in guidelines of the U.S. Financial Crimes Enforcement Network, or FinCEN.

Further internationalizing pressure comes from the inter-governmental Financial Action Task Force, or FATF, which sets the regulatory standards by which countries pressure each other to comply.

? The Facebook Libra Hearings: Everything You Missed in 5 Minutes

“It’s not a surprise to me that inevitably corporations are going after creating their own tokens but for Facebook to be one of the first big ones is is pretty much a surprise,” said Lukka CEO Jake Benson told us when news of Libra began to spread. The world shared his surprise when Facebook unveiled its wild cryptocurrency dreams last month. But that surprise quickly turned into concern and condemnation as politicians started thinking about what it meant for a company to run its own mint.


Facebook’s reaction to the hearings was also surprising. The usually-reticent social media giant sent their best fighter – Libra co-creator David Marcus – into the ring to defend the currency and the battle raged for two days as the U.S. Congress and Senate took turns bringing up their concerns.


The result? A stalemate… for now. token transactions.

? CoinLaunch Reaches $50,000 Settlement With Ontario Securities Commission

Initial coin offering (ICO) consultant CoinLaunch has agreed to pay $50,000 to the Ontario Securities Commission (OSC), according to documents published on the regulator’s website dated July 24.


According to commercial litigator and former programmer Evan Thomas, CoinLaunch was consulted on two ICOs, BCZERO (raising funds for a Czech off-road truck racing team) and ECOREAL (raising funds for a Portuguese resort), both of which were found to be securities. CoinLaunch reportedly created the tokens, white papers and websites, advised on the sale structure and made introductions, including to crypto exchanges for listings.


According to Thomas, the OSC found that the service was an act in furtherance of the trade of the security tokens since it was instrumental to the solicitation of investors. The consultant agreed to pay a $50,000 fine under a settlement.

? Bill Miller Hedge Fund Surges 46% Thanks to Bitcoin, Amazon

The hedge fund of famous investor Bill Miller saw 46% growth in the first half of 2019, reportedly in some part from investing in Bitcoin (BTC).


Citing an investor document, Bloomberg reports on July 26 that Miller achieved such outstanding results by investing in Bitcoin among other high-performing stocks. Alongside Bitcoin, other investments in the Miller’s fund reportedly include Amazon, security system firm ADT, as well as Avon Products.


The 69 year-old investor reportedly found success by following a similar investment strategy as he used during his three-decade run at Legg Mason, which envisions investing in securities that trade at a large discount to their intrinsic value.

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? Daily Crypto Calendar, July, 29th?

LBank will open a SKY/SCH (Coin Hours) trading pair.

We’re going to launch Vexanium Whitepaper 2.0 on 29th July 2019.

“IOHK will be restarting the Cardano Byron testnet with a fresh genesis block and new network magic on 29 July.”

Conceal.Network (CCX) is going to be listed on Citex.

“Cast your vote at 0x.org/vote to add support for ERC-1155 and the StaticCallAssetProxy!”

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STEEM Trading Update by my friend @cryptopassion

Here is the chart of yersterday :

STEEMUSD.jpg

Here is the current chart :

STEEMUSD.jpg

The STEEM is still sitting on the support line at 0.24$, waiting for the next move from the BTC. I’m really afraid that the BTC will continue it’s correction so yeah, I’m little bit pessimist about that support line at 0.24$. However, I really wish that I’m wrong and that this support line will keep us upper but be very carefull in the coming hours.

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Last Updates

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Join this new Free To Play on the STEEM Platform !

The Bitcoin Chart Scares Me With Some Deja-Vu

July 28, 2019 Published by

When I look at the daily chart of bitcoin and I see the price action of the past couple months, then I look at the 2017/2018 top and think….”wow, that look’s a bit similar.”

Will Lightning Strike Twice – Probably Not

Here’s the thing.  Even though the chart doesn’t look great I also don’t see how we crash the way we did a year and a half ago.

The same ingredients do not exist.  The move has not been crazy, the general mom and pop is not talking about bitcoin at your local diner and there isn’t a ICO shit coin craze.

Where can we go though?

We can certainly go down a bit still.  If you look at the chart, basically it has made an “h” looking pattern which leads to lower prices many times.  That’s just odds though, doesn’t mean it will happen.

A move down to 8,500 and evan 7,500 would still be ok on a technical basis.  I wouldn’t consider that bearish as 7500 is a clear bottom when looking at a weekly chart.  As long as it tested and rallied off that I’d still be bullish.

Let’s hope we don’t have to even play it out.

On the upside, getting above 9,800 and pushing toward the 11k mark is the bullish price action we need.

I honestly believe it’s anyone’s guess which way the next near-term move is.

I’m keeping some fresh powder available in case we do get an opportunity to buy lower…otherwise hodl’ing my bag.

Bitcoin: Discussing the Next Move

July 28, 2019 Published by

Bitcoin continues to consolidate on top of known support at $9,400. Daily volume is around $12 billion, the lowest since April.

Screen Shot 2019-07-28 at 12.48.19 PM.png
Screen Shot 2019-07-28 at 12.36.01 PM.png

In today’s video we discuss where price may be heading next, key areas to watch, traps to avoid and so much more. I hope you find it helpful.

Video Analysis:

If you don’t see the above video, navigate to TIMM (https://mentormarket.io/profile/?workin2005/) or Steemit in order to watch.

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.

Workin

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IRS Sending Letters to “Educate” U.S. Crypto Investors

July 27, 2019 Published by

Let the fun begin for those of us in the United States.  According to a notice by the Internal Revenue Service (IRS) more than 10,000 people will be receiving letters to educate them on their tax liability on cryptocurrency transactions.

Here is a quote from the notice:

“Taxpayers should take these letters very seriously by reviewing their tax filings and when appropriate, amend past returns and pay back taxes, interest and penalties,” said IRS Commissioner Chuck Rettig. “The IRS is expanding our efforts involving virtual currency, including increased use of data analytics. We are focused on enforcing the law and helping taxpayers fully understand and meet their obligations.”

There are three variations: Letter 6173, Letter 6174 or Letter 6174-A, all three versions strive to help taxpayers understand their tax and filing obligations and how to correct past errors.

The letters will begin going out toward the end of August.  Let me know in comments if you end up getting one of these letters.

 

Bitcoin Drops! Next Moves?

July 27, 2019 Published by

Bitcoin dropped below a major ascending support line earlier today. It’s now sitting on top of known support at $9,400. Is it possible price is painting a larger bullish falling wedge?

Screen Shot 2019-07-27 at 9.32.34 AM.png

In today’s video we’ll discuss where price may be heading next, key areas to watch and so much more. I hope you find it helpful.

Video Analysis:

If you don’t see the above video, navigate to TIMM (https://mentormarket.io/profile/?workin2005/) or Steemit in order to watch.

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.

Workin

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Bitcoin Preparing to Move? Very Quick Update

July 26, 2019 Published by

In today’s quick update we discuss small changes since yesterday analysis. I hope you find it helpful.

Video Analysis:

If you don’t see the above video, navigate to TIMM (https://mentormarket.io/profile/?workin2005/) or Steemit in order to watch.

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.

Workin

If you found this post informative, please:

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Get paid for viewing ads and Support the Crypto Ecosystem with Brave Browser. Free download here:
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The Best Crypto Exchange just got Even Better! (Again)

July 26, 2019 Published by

It wasn’t long ago that I last spoke about KuCoin. It was earlier this month in fact, in the post “? Shilling my Bags! ?”. Well, here I am speaking about KuCoin again!

As my readers should know by now, KuCoin is my favourite exchange – not as big as Binance (which I also love), but just a little more friendly and nicer to use. KuCoin also continues to score extremely well compared to all other exchanges in terms of honesty and trustworthiness. So what has KuCoin been up to this time, that Bit Brain deems it necessary to write about KuCoin yet again?

Soft Staking

That’s what KuCoin has been up to.

No, it has nothing to do with serving steaks rare. (Unfortunately)

“Soft Staking” is a new KuCoin development.

https://blog.kucoin.com/what-is-soft-staking-kucoins-new-staking-program/

Leading the industry (once again), KuCoin. KuCoin has come up with a way for you to stake your coins/tokens; by doing nothing.

That’s right; you do absolutely nothing. All you have to do is hold your crypto on KuCoin exchange, and *Hey Pesto!*, it’s staked!

Soft-staking is a logical continuation of KuCoin development: Since 2017 KuCoin Shares (KCS) holders have been able to receive “dividends” based on the number of KCS they hold on KuCoin Exchange. Dividends are based on trading fees earned from all trading pairs on the platform (there are hundreds of them). At first those dividends were paid in all the different currencies traded, but then KuCoin simplified it and now dividends are all paid in KCS (which works better). So “soft staking” is not really new to KuCoin, but it’s never before been done with currencies other than KCS.

You see, the great thing about Soft Staking as opposed to normal staking is that your funds remain available to you even though they are staked! You can withdraw your tokens any time! To re-stake, you just deposit them again!

The following coins can now be Soft Staked merely by holding them in your wallet on KuCoin Exchange:

  • EOS (EOS)
  • Tron (TRX)
  • Cosmos (ATOM)
  • Neblio (NEBL)
  • TomoChain (TOMO)
  • DeepOnion (ONION)
  • NULS (NULS)
  • Energi (NRG)
  • Internet of Services (IOST)

Of course KCS will also continue to function as it always has. To my knowledge, this system is practically unique. I know that Poloniex recently started allowing Cosmos staking, but I can’t think of any other offhand examples by reputable exchanges. In his blog post “Soft Staking: High-yield and Anytime-withdrawal? Yes, You May.” (link below), Johnny Lyu – KuCoin Co-founder and VP, states that KuCoin ROI will exceed that offered by Poloniex:

…some projects in our Soft Staking Program are able to offer 6% to 12% of the annualized return rate, while Poloniex offers 3% to 10% return rate within a similar package.

Staking ROI varies depending on the coin and on the markets, so one can’t assign a fixed percentage to anticipated ROI. But from the information we have so far; NRG looks most profitable (with annual returns estimated at about 20%) and EOS least profitable (with annual returns of about 0.5%). I expect those figures to vary wildly over time. A table of available figures so far can be found in this post: https://www.kucoin.com/news/en-soft-staking-cash-back-investment-program

While I’m linking to KuCoin posts, here are some others you can use to find out more about KuCoin’s Soft Staking:

Within those links you can find more links to specific staking data about each coin (though they are all pretty much the same). Take note of some details, such as that you might not be able to withdraw all your EOS immediately. There is no detailed public explanation about how the staking system works from a technical point of view – at least not yet. Fortunately for you, you have me to guess the details for you:

I am guessing that KuCoin pool all of the deposits and then stake them as a pool, or as a series of small pools, probably of varying sizes. In addition to that, they probably keep an unstaked, liquid portion of tokens available, I’m guessing about 2% of the total deposits of each coin. To me this would make sense because it means that roughly 98% of the tokens would be staked at any one time. As additional tokens are required, they could be unstaked if required – without having to unstake the entire balance of those staked tokens. A fair amount of tokens would always be available for withdrawals in the form of the 2% reserve. Because tokens like EOS take several days to unstake, I am guessing that this is why they say that it is possible that you could sometimes have to wait a bit to withdraw all your tokens, though I doubt that this would ever even happen to the average user. Such a situation would occur if customers had made an unusually large number of withdrawals recently and had depleted the 2% currency reserve. In essence the stakes act as a cold wallets. Where exchanges normally keep about 98% of their crypto holdings offline in a cold wallet (at least the good ones do), now KuCoin is basically just staking their cold wallets. I repeat: this paragraph is entirely just my educated opinion (which is almost always 100% correct, because I am an ultra-genius).

From https://blog.kucoin.com/passive-income-with-cryptocurrency-proof-of-stake/

Depending on the sort of returns you will be getting, staking may or may not be a good idea for you. Like all centralised exchanges, KuCoin has withdrawal fees. Most cryptocurrencies also cost money to send from a wallet to an exchange (unlike NEO which is free – damn that coin is good! ? ). For these reasons, sending small amounts of tokens to KuCoin just to be able to stake them is probably a bad idea, you would lose more in fees than what you would gain from staking. Similarly, sending coins to KuCoin for a very short staking period is probably not economically feasible.

On the other hand, if you have a large balance of a coins such as TRX that you want staked, then KuCoin is worthy of consideration.

Of course there is a drawback: you’ll be keeping your coins on an exchange. You all know the saying: “Not your private keys, not your crypto”. As much as I trust KuCoin and I don’t see them running off with anybody’s money, exchanges do have “incidents” – much like the Binance hack in May of this year. I honestly do not know what sort of customer protection measures KuCoin has in place to defend against such events (I would be very interested to know! Perhaps I should write to them and ask…), so I can’t really comment on exactly how safe your coins are when they are staked through KuCoin.

Personally I need to go and look at my own coins to decide if this is worth doing or not. I hold EOS, TRX and NEBL, two of which are already kept on an exchange because I only hold relatively small amounts of them. My EOS is in a wallet, but I’m hardly an EOS whale either. Above a certain USD value I take my coins off an exchange and put them in a wallet, all three of my coins are well below that value (thanks in no small part to the terrible altcoin market we are in!) However, my KCS is over my USD limit, and I leave it all on KuCoin – just to earn the KCS rewards. Read into that what you will.

Conclusion

Well done to KuCoin for offering their customers another great service. This has been a fantastic month from KuCoin: Extra token burns, an OTC trading desk, a Derivatives Trading platform (KuMEX) and now Soft Staking! As I have been saying for years: KuCoin Shares is a damn good token to hold, this platform has a lot of growing to do!

I think that this is only the beginning. I foresee many other exchanges following suit – just as they copied KuCoin’s original dividend paying token idea (COSS doesn’t count because their token crashed and burned, I hate that exchange after the huge losses they cost me!). Bear in mind that if you reside in a country where “Liberty” is only a word and had no true meaning, then the tyrants who unilaterally rule your life may have deemed it illegal for you to earn such staking rewards. Fight them, flee them – or continue to suffer beneath them – your choice.

Yours in crypto
Bit Brain

“The secret to success: find out where people are going and get there first”
~ Mark Twain

“Crypto does not require institutional investment to succeed; institutions require crypto investments to remain successful”
~ Bit Brain

Bit Brain recommends:

Crypto Exchanges:




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Important link: – this information is for entertainment purposes only. Read the disclaimer for the details: Disclaimer

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? Daily Crypto News, July, 26th?

July 26, 2019 (updated July 26, 2019) Published by
  • Facebook to Work ‘However Long It Takes’ to Win Regulators on Libra ;
  • SEC Clears Blockchain Gaming Startup to Sell ‘Quarters’ Tokens ;
  • Bancor Raised $153 Million and Found Actual Users. Why Did Its Token Tank? ;
  • Nigerian Deposit Insurance Corporation Warns Against Crypto Dependency ;
  • How US Investors Are Buying Bitfinex’s Blocked LEO Cryptocurrency ;
  • ? Daily Crypto Calendar, July, 26th?
  • STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

? Facebook to Work ‘However Long It Takes’ to Win Regulators on Libra

Facebook co-founder and CEO Mark Zuckerberg said that the company will work as long as it takes to appease regulators’ concerns over its Libra stablecoin. Zuckerberg delivered his statements during the firms Q2 results conference call on July 24.


During the call, Zuckerberg said that — some years ago — Facebook would have just released a new product without prior warning, but now the company has changed. More precisely, he stated:


“We’ve opened a period of – however long it takes to address regulators and different experts and constituents’ questions about this and then figure out what the best way to move forward is.”


He also noted that — when Facebook was working on the white paper with the 27 other members of the Libra Association — they expected that, since finance is heavily regulated, there were going to be a lot of questions asked about the project. 

? SEC Clears Blockchain Gaming Startup to Sell ‘Quarters’ Tokens

The U.S. Securities and Exchange Commission has issued a no-action letter to Pocketful of Quarters (PoQ), a gaming startup looking to issue tokens on the ethereum blockchain.


PoQ may legally sell its Quarters tokens to consumers without registering them as securities, the SEC Division of Corporation Finance wrote in its second no-action letter to a company seeking to launch a token sale. (The first was granted in April to TurnKey Jet, a business-travel startup.)


Quarters are built according to the ERC-20 standard – the first such token to receive U.S. regulatory approval.
In the July 25 letter, Jonathan Ingram, chief legal officer for the SEC’s FinHub wing, wrote:

cointele
“Based on the facts presented, the Division will not recommend enforcement action to the Commission if, in reliance on your opinion as counsel that the Quarters are not securities, PoQ offers and sells the Quarters without registration under Section 5 of the Securities Act and does not register Quarters as a class of equity securities under Section 12(g) of the Exchange Act.”

? Bancor Raised $153 Million and Found Actual Users. Why Did Its Token Tank?

The cryptocurrency industry is still grappling with the legal implications of the initial coin offering (ICO) trend of 2017.
Two years after the token boom, the value of Bancor’s BNT token is in the dumps – sinking from $4.49 in July 2017 to an all-time low last week of $0.44, according to CoinMarketCap.


Yet, the project’s main investors are still holding.


For example, Yoni Assia, CEO of the crypto exchange eToro, described the $153 million Bancor ICO as a “pivotal” moment for the industry and told CoinDesk he is holding BNT because he believes in the team.


The Bancor platform, which provides quick liquidity for niche ERC-20 tokens by using BNT as a market-making reserve currency for all assets on the network, has routinely attracted 100-250 traders a week, according to Etherscan’s tally of BNT token transactions.

? Nigerian Deposit Insurance Corporation Warns Against Crypto Dependency

The Nigeria Deposit Insurance Corporation (NDIC), a federal insurance overseer and safety net provider, has issued a public warning about relying on cryptocurrency transactions in a press release on July 25.


According to the press release, managing director and CEO of NDIC Umaru Ibrahim said that relying on cryptocurrencies is very risky, because they are unregulated and unbacked by central banks in most financial jurisdictions. 


Much like the United States’s Federal Deposit Insurance Corporation, the NDIC provides a safety net for depositors and aims to protect the banking system from instability caused by bank runs or loss of confidence.

? How US Investors Are Buying Bitfinex’s Blocked LEO Cryptocurrency

U.S. investors have been able to purchase Bitfinex’s LEO exchange tokens, if only indirectly.


Seattle-based Arrington XRP Capital and Los Angeles-based Arca both said they invested in LEO tokens, despite Bitfinex’s stated policy of refusing to sell them to U.S. residents or entities.


Both investment management firms told CoinDesk that, rather than purchasing the tokens from Bitfinex, they acquired them, legally, from third parties.


The distinction is important because, in an ongoing court battle with the New York Attorney General (NYAG), Bitfinex maintains that it banned U.S. individuals from its platform in August 2017 and U.S. corporates a year later.


In arguing that it has jurisdiction in the case, the NYAG claims the exchange did business with New York entities as recently as early 2019.

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? Daily Crypto Calendar, July, 26th?

“#TRON will be listed on the daily contract (20X leverage) with the global innovative exchange – @OnTrade1 on 26th of July 2019(SGT).”

“It is with great excitement that we would like to announce that we are going to release Conceal Mobile Beta on July 28!”

This first public release of the Dusk Network protocol implementation gives a chance to participate in the testing alongside our team.

“Starting August 26th, ICONists will be able to vote for P-Reps and earn $ICX rewards!”

“Thrilled to announce that our first-ever Developer Community Call will take place Friday 26 July @ 9 AM.”

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STEEM Trading Update by my friend @cryptopassion

Here is the chart of yersterday :

STEEMUSD.jpg

Here is the current chart :

STEEMUSD.jpg

The false break of the support line yesterday triggered a bounce on the STEEM but we are already consolidating from it now. The positive point is that we are now back upper than this support line and that we are waiting for the next move. Till now it looks like that the support line at 0.24$ start to be considered as temporary low. A Up break out on the BTC could help us to validate that but let’s see what the market has planned.

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Last Updates

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Join this new Free To Play on the STEEM Platform !

Bitcoin Bulls Attempt a Rally! Quick Update

July 25, 2019 Published by

Bitcoin continues to consolidate around $10,000. The larger ascending support reminds in tact.

Screen Shot 2019-07-25 at 10.08.47 AM.png

In today’s video we’ll discuss potential next moves (micro and macro), key areas to watch and your questions. I hope you find it helpful.

Video Analysis:

If you don’t see the above video, navigate to TIMM (https://mentormarket.io/profile/?workin2005/) or Steemit in order to watch.

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.

Workin

If you found this post informative, please:

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Get paid for viewing ads and Support the Crypto Ecosystem with Brave Browser. Free download here:
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Feature Image By: Saul Gravy

? Daily Crypto News, July, 25th?

July 25, 2019 (updated July 25, 2019) Published by
  • Andrew Yang Super PAC Will Accept Lightning-Powered Bitcoin Donations ;
  • Ripple Sells $251 Million in XRP in Q2 Amid Spike in Institutional Buying ;
  • John McAfee Reportedly Released Following Detainment in The Dominican Republic ;
  • Pantera Capital CEO Believes Bitcoin Could Reach $356,000 in a Couple Years ;
  • US Treasury Secretary Mnuchin Voices New Pessimism About Bitcoin’s Future ;
  • ? Daily Crypto Calendar, July, 25th?
  • STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

? Andrew Yang Super PAC Will Accept Lightning-Powered Bitcoin Donations

This could be the first time the Lightning Network, a bitcoin scaling solution, officially impacts the U.S. presidential election.


Roughly a dozen bitcoiners who support Democratic presidential candidate Andrew Yang launched a crypto-friendly super PAC on Thursday, Humanity Forward Fund (Humanity FWD). Thanks to the PAC’s payment processor, OpenNode, the entity will be able to accept payments from lightning wallets.


“The super PAC obviously wants to receive donations as large as possible. But at the same time, individuals who want to donate just a bit to Yang’s platform now have that opportunity,” OpenNode CEO Afnan Rahman told CoinDesk. “It allows the donors to have all of the amount go toward the actual donation rather than miner fees.”

? Ripple Sells $251 Million in XRP in Q2 Amid Spike in Institutional Buying

Ripple’s second-quarter report released Wednesday came with a few surprises: a gain, a loss, and a new partner.
The distributed ledger technology firm’s total sales of XRP increased by nearly 48 percent to $251 million in the quarter, outpacing the first quarter’s $169 million in sales.


Direct institutional sales drove the uptick, increasing nearly 73 percent to $107.9 million from $61.9 million. Though programmatic sales still accounted for the majority of sales volumes with $144.6 million made in the second quarter up from $107 million in the first.


Despite this growth, the company states in a forward-looking projection:


“Ripple plans to take a more conservative approach to XRP sales in Q3.”

? John McAfee Reportedly Released Following Detainment in The Dominican Republic

The Senate Banking Committee will hold a hearing on regulatory frameworks for cryptocurrencies and blockchain next week.


The committee said in a press release that it would hold an open session titled “Examining Regulatory Frameworks for Digital Currencies and Blockchain” on July 30, though it is unclear if this would be a fact-finding mission or if any specific pieces of legislation would be discussed.


Circle CEO Jeremy Allaire, representing the Blockchain Association; Rebecca Nelson, a member of the Congressional Research Service specializing in international trade and finance; and Mehrsa Baradaran, a law professor at the University of California Irvine School of Law will testify as expert witnesses.

? Pantera Capital CEO Believes Bitcoin Could Reach $356,000 in a Couple Years

Pantera Capital founder Dan Morehead discussed how Bitcoin (BTC) could hit $42,000 by the end of 2019, and even has the potential to reach $356,000 within a couple years. Morehead delivered his comments on an episode of the Unchained podcast on July 23.


Morehead specifically said that he predicts BTC will hit $42,000 by the end of the year, and climb to $356,000 by 2022. Morehead claimed that this would be consistent with the top cryptocurrency’s logarithmic growth rate:


“Graph the price of Bitcoin logarithmically […] its trend is going to grow at 235% compound annual growth rate and […] that put Bitcoin at $42,000 at the end of 2019. And I know this sounds crazy but we’re essentially halfway back there. […] I think it’s a good shot that by the end of the year we hit that. And if you just extrapolate that line out for another year it’s $122,000 per Bitcoin and then one more year, $356,000.”

? US Treasury Secretary Mnuchin Voices New Pessimism About Bitcoin’s Future

United States Treasury Secretary Steven Mnuchin voiced new bearish views on Bitcoin today, saying that he probably will not be talking about the number one cryptocurrency in as soon as five years. In an interview with “Squawk Box” CNBC on July 24, Mnuchin said:


“I won’t be talking about Bitcoin in 10 years, I can assure you that […] I would bet even in 5 or 6 years I’m no longer talking about Bitcoin as Treasury Secretary. I’ll have other priorities […] I can assure you I will personally not be loaded up on Bitcoin.”


Mnuchin’s latest remarks follow a recent statement about how cryptocurrencies primarily exist as a vehicle for crime and speculative investment, saying, “I think to a large extent, these cryptocurrencies have been dominated by illicit activities and speculation.” 

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? Daily Crypto Calendar, July, 25th?

EOSFINEX Launch

Developer roundtable at 4 PM (UTC) with CTO and ARK delegates to discuss and future development of the Tier-0 program.

“#GOExchange community burns will happen once a month. The first one will be on July 25th.”

SparkPoint ( SRK ) will conduct its 3rd quarter burning of SRK tokens on July 25, 2019.

Meetup with NEO, LagomX, and Coin68 in Ho Chi Minh City, Vietnam from 14:30 – 15:30 (Indochina Time Vietnam Time).

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STEEM Trading Update by my friend @cryptopassion

Here is the chart of yersterday :

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Here is the current chart :

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The support line at 0.24$ has been broken during some hours but it triggered an immediate bounce. It shows that this support line is quiet solid, at least from now. I don’t think we will be able to resist if the correction is continuing on the BTC but let’s at least enjoy that little good news. Steem is still alive….

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Last Updates

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