Crypto Daily News | Crypto Market Rebounds; Coinbase Reponds

In today’s edition of Crypto Daily News, we’ll cover the details of the crypto market rebound and Coinbase’s official statement regarding the proprietary trading allegations. Crypto Daily News: September 20th, 2018 Crypto Market Rebounds The crypto market is rebounding this morning, after taking a sharp fall last week after rumors spread that Goldman Sachs (NYSE:GS) wasn’t focusing on a cryptocurrency trading desk. Later, GS confirmed that the news was “fake” and that the desk is, in fact, ready, but waiting for demand. Currently, the crypto market is trading just above…

LINE’s Token-Powered Ecosystem | Plans have been Unveiled

Plans for LINE’s token-powered ecosystem have been unveiled. The messaging app giant from Japan announced its new venture at CoinDesk’s Consensus: Singapore event this morning. LINE’s plans are ambitious; it wants to launch its new system by the end of 2018. Will it do it? LINE’s Token-Powered Ecosystem It can have such ambition because LINE already has more than 164 million monthly active users across four key countries. It is this user-base that the app giant will capitalize on to launch its token-powered ecosystem. LINE’s token-powered ecosystem centers around its previously announced LINK token. The…

IBM Patent Eyes Blockchain for Drone Fleet Security

Computing giant and prolific blockchain researcher IBM has applied to patent a system that would use distributed ledger technology (DLT) to address privacy and security concerns associated with the increasing usage of drones in both commercial and recreational applications. According to documents made public on Thursday by the US Patent and Trademark Office (USPTO), IBM first applied for the patent, the latest in its growing library of prospective blockchain applications, in March 2017. In the patent application, the authors detail how a blockchain ledger could be used to store data…

Charlie Lee Defends Litecoin Against ‘FUD’ from Short-Sellers

Litecoin creator Charlie Lee is striking back at what he calls a “concerted effort to suppress” the LTC price on the party of bearish traders and hedge funds who are attempting to short the coin. Writing in a thread posted on Twitter, Lee — who created LTC in 2011 and now develops it full-time — said that he wanted to clear up “FUD” circulated by groups that “see Litecoin as a threat.” Lee was apparently responding to an explosive report from cryptocurrency hedge fund Multicoin Capital which, among other things,…

“Someone’s Got to Be the Voice of Reason” — Kraken Responds to NY AG Report

The New York Attorney General’s office has pointed a finger at cryptocurrency exchange Kraken for “potential” violation of state regulations. Now, the San Francisco–based exchange is firing back, saying it does not appreciate what it sees as implications of illegality. “Someone has to be the voice of reason,” Jesse Powell, Kraken’s outspoken co-founder and CEO, told Bitcoin Magazine. “If we all accept corrupt practices as the norm, without saying anything out of fear of unlawful retaliation, what the hell are we doing this for?” In April 2018, as part of…

Bitcoin Price Intraday Analysis: BTC/USD Gaining Towards 6500-Fiat

Bitcoin on Thursday improved its bullish bias by rising over 1.5 percent against the US Dollar. The BTC/USD on BitFinex is trading at 6421-fiat while continuing its bullish retracement from 6100-fiat, our intraday low. The pair kickstarted the Asian session while forming lows towards 6382-fiat. It consolidated sideways throughout the said session within a strict trading range. 6400-fiat continued to be the level of interest, meanwhile. BTC/USD never slipped too below the stated level, nor surged too far from it. During the European session, the pair once made higher highs towards…

Bitcoin Price Sees High-Volume Recovery From Five-Week Lows

Bitcoin’s (BTC) has made a high volume recovery from five-week lows, although a bullish reversal is still not confirmed, technical studies indicate. The leading cryptocurrency fell to $6,100 on Bitfinex at 18:00 UTC yesterday – the lowest level since Aug. 14 – signaling a downside break of the trendline connecting the June low and Aug. 11 low (lower edge of the pennant). However, the cryptocurrency picked up a strong bid just an hour later and jumped to a high of $6,550. More importantly, trading volumes on Bitfinex increased by 66…

Bitcoin Price Watch: BTC/USD Preparing for Next Upside Wave

Key Points Bitcoin price recently dipped and then rallied above the $6,400 level against the US Dollar. There was a break above two bearish trend lines with resistance at $6,320 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is currently correcting lower, but it remains supported near the $6,320-00 zone. Bitcoin price is positioned in the positive zone above $6,300 against the US Dollar. BTC/USD could move back higher towards $6,500 in the near term. Bitcoin Price Analysis There were a couple of nasty…

Ripple Price Analysis: XRP/USD Signaling Upside Extension

Key Highlights Ripple price surged higher recently and broke the $0.3200 resistance level against the US dollar. There is a major contracting triangle in place with resistance at $0.3300 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could correct a few points, but it remains supported above the $0.3100 level. Ripple price is trading with a bullish bias against the US Dollar and Bitcoin. XRP/USD needs to gain above $0.3350 for a push towards the $0.3500 level. Ripple Price Rise Yesterday, we saw a…

Coinbase Disputes Claims in New York Attorney General’s Exchange Report

A recent report published by the New York Office of the Attorney General (OAG), which claimed several cryptocurrency exchanges it investigated are vulnerable to market manipulation, has drawn backlash from industry players. In a blog post published Thursday, Coinbase’s chief policy officer, Mike Lempres, wrote that the OAG’s assertions in the report have led to misrepresentation of the exchange’s business in the media. The OAG wrote in its original report: “Coinbase disclosed that almost 20 percent of executed volume on its platform was attributable to its own trading.” In response, Lempres clarified…