Crypto Markets Continue Rise With Market Cap Reaching Over $220 Billion

Thursday, September 27: crypto markets continue to rise as the crypto and blockchain industry is seeing some support from governmental and institutional entities. Following a sell-off that started on September 24, crypto markets are seeing the second day of a rebound, with daily trade volume now amounting to more than $16 billion. All but two top 20 cryptocurrencies by market capitalization have seen firm growth over the past 24 hours, following a slight price stagnation within the day and surging sharply within the past few hours. Market visualization from Coin360…

Gold-Based Monetary System to Bring Price Stability to Crypto, Preventing Value Decrease

Gold-based monetary system Kinesis aims to bring price stability to the world of cryptocurrency and to prevent the decrease of its value. The company says it has already attracted interest from key players in the gold industry, which is estimated at $6.8 trillion only on London’s gold market (70 percent of the global trading volume). After the gold standard that once defined the value of currencies was abandoned in the 20th century, the monetary system became dependent on central banking policies. The Kinesis team decided to create its own “efficient,…

Coinbase Introduces ‘Coinbase Bundle’ Designed to Simplify Crypto Trading

Cryptocurrency exchange and wallet service Coinbase has rolled out a new update called “Coinbase Bundles,” which is designed to simplify cryptocurrency trading, according to an announcement published September 27. Coinbase Bundles is a basket of five cryptocurrencies supported on Coinbase and purchased in proportion to their market capitalization in U.S. dollars. The Bundle consists of Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), and Ethereum Classic (ETC); the smallest Bundle costs $25, £25, or €25. While Coinbase has not set up a maximum purchase size for a Bundle, the…

Bitmain IPO | Filed and Pending; So What’s Next for the Mining Company?

Bitcoin mining firm Bitmain has just submitted its initial public offering (IPO) with the Stock Exchange in Hong Kong (HKEX). Bitmain is based in Beijing, China. So what’s going on with the Bitmain IPO? Bitmain IPO Bitmain’s long-awaited IPO is still in its draft form and pending further listing hearings from the HKEX. The announcement of Bitmain’s public offering isn’t without controversy though. Bitmain has been weighing an $18 billion IPO, one of the largest in history. Bitmain is one of the world’s most valuable cryptocurrency companies. Back in July, the…

Why the Crypto Market Will Likely Rally by the End of 2018: Experts Discuss

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, you should conduct your own research when making a decision. Historically, over the past nine years, Bitcoin (BTC) has experienced four major corrections, all of which led Bitcoin to decline by more than 80 percent in value. The correction the crypto market experienced in 2018 resulted in a 69 percent drop in the price of Bitcoin, with some other cryptocurrencies like Binance Coin (BNB) and EOS recording smaller losses. In August 2010, August 2011,…

Bitcoin Price Pops to $6,745 ahead of Quarterly Futures Expiration

The bitcoin price broke out of its early-week slump on Thursday, scrambling back above $6,700 to return to its weekend levels. Bitcoin had entered the week near $6,700 after briefly extending as high as $6,815 last Friday. However, the flagship cryptocurrency took a moderate dip on Monday, a correction that ultimately forced BTC below $6,400 on Tuesday ahead of a recovery back to $6,500 on Wednesday. BTC/USD | Bitfinex That’s where BTC/USD continued to trade for most of Thursday morning and afternoon, at least until 19:48 UTC when a surge…

Blockchain Payment Company Veem Backed by Goldman Sachs

The blockchain payment company Veem just announced it has closed a $25 million funding round. The company closed its Series B funding round back in 2017. Veem states that Goldman Sachs and Google Ventures led the new funding round. Veem The latest round raised by the blockchain payment company Veem included a slew of new and existing investors. Silicon Valley Bank, Extol Capital, Trend Forward Capital, GV (formerly Google Ventures), Pantera Capital, and Kleiner Perkins contributed to the expansion of the company. Currently, small business owners have to deal with slow…

Goldman Sachs Leads $25 Million Funding Round for Blockchain Payments Startup Veem

U.S.-based banking giant Goldman Sachs has led a $25 million strategic funding round for blockchain payments startup Veem, with participation also confirmed to Cointelegraph from Silicon Valley Bank on September 27. Veem, which utilizes digital ledger technology to increase the efficiency of small business payments, noted in their press release that the funding round also received participation from GV (formerly Google Ventures), Trend Forward Capital, Extol Capital, Kleiner Perkins, and Pantera Capital, among others investors. Forbes notes that Goldman Sachs invested through its Principal Strategic Investment Group, and that Rana…

Colombian Draft Bill on Crypto Called ‘Inconsistent,’ Criticized by Local Industry

A draft bill on crypto regulation presented to Colombia’s Congress has been heavily criticized by the local tech sector, Colombian financial journal Dinero reports Tuesday, September 24. The draft was introduced in late July by senator Carlos Abraham Jimenez from Cambio Radical, the second largest party in the lower house of Colombia’s Congress. The bill, called “On cryptocurrencies, or digital currencies,” gave definitions for various crypto-related terms and suggested the issuance of licenses for trading coins. The bill also proposed a five percent tax on all crypto transactions, both internal…

Ripple Announces $105 Million Charity Venture for Education, Financial Inclusion Projects

Ripple is launching a formal social impact program, dubbed “Ripple for Good,” according to a press release published September 27. The initiative will pool $25 million from the firm together with $80 million in donations to invest in projects focused on education and financial inclusion. The press release states that Ripple is still assessing which projects will form a part of their initiative, but that the choices are likely to focus on educational programs in the fields of Science, Technology, Engineering and Mathematics (STEM) and financial technology (FinTech). The firm…