Crypto Market Stabilizes After $25 Bln Surge, Can Bitcoin Breach $6,800?

Over the past 48 hours, the crypto market has increased by more than $25 billion, from $198 billion to $223 billion. Ripple and Ethereum have maintained momentum at a price range. Since September 20, the crypto market has initiated a strong corrective rally resulted by extremely oversold conditions. But, as many investors expected, the massive upward momentum of most major cryptocurrencies and small market cap assets have led the market to retrace. Stellar, Tezos, Waltonchain, and Status have recorded losses in the range of 6 to 8 percent, after demonstrating…

India’s Blockchain Ecosystem Suffers as Antagonistic Government Policy Brings Exodus

The fallout from India’s regulatory position on cryptocurrencies is leading to an exit of talent, businesses and investment from the country’s blockchain space on a scale paralleled only by a prior wave of tech industry flight during the internet boom of the late 90s and early noughties. According to a recent News 18 report, a substantial number of developers, service providers and other organisations within India’s cryptocurrency and blockchain sphere have already fled, or are in the process of fleeing from India to jurisdictions with friendlier regulatory dispositions such as Thailand,…

UK’s Biggest Port Operator to Explore Blockchain Solution

The privately run UK port operator, Associated British Ports (ABP), has inked a Memorandum of Understanding with freight forwarder Marine Transport International to explore a blockchain technology application aimed at improving connectivity at the 21 ports it runs. The MOU will see ABP try out a blockchain solution developed by MTI, thereby helping ease one of the biggest headaches in the logistics sector – lack of system interoperability. The solution is expected to enhance efficiency as no time will be wasted on manually re-entering data. Currently, the port operator handles…

Coinsquare Lists Blockchain ETF On Toronto Stock Exchange

Coin Capital Investment Management Inc. (Coincapital), the portfolio management division of the Coinsquare digital asset trading platform, has listed a blockchain exchange traded fund (ETF), the STOXX Blockchain Patents Innovation Index Fund (LDGR), among two new ETFs the company has listed on the Toronto Stock Exchange. Coincapital, which is registered with the Ontario Securities Commission, has become Canada’s newest ETF provider following the introduction of the LDGR and the STOXX B.R.AI.N. Index Fund (THNK), the company’s first ETFs.   The LDGR and THNK ETFs were scheduled to commence trading on…

US Congressman to Introduce Bills Supporting Blockchain Technology, Cryptocurrencies

U.S. Rep. Tom Emmer (R-MN) is planning to introduce three bills to support blockchain technology and cryptocurrencies, according to a press release published September 21. The three upcoming bills are entitled the “Resolution Supporting Digital Currencies and Blockchain Technology,” the “Blockchain Regulatory Certainty Act,” and the “Safe Harbor for Taxpayers with Forked Assets Act.” The legislation is focused on the support and development of blockchain technology, as well as the establishment of a safe harbor for taxpayers with “forked” digital assets. The bills would prompt the federal government to provide…

Largest Brazilian Brokerage to Launch Exchange for Bitcoin and Ethereum

The largest brokerage in Brazil will enter the crypto space by launching an exchange for Bitcoin (BTC) and Ethereum (ETH) in the near future, Bloomberg reported September 21. Chief Executive Officer of Grupo XP Guilherme Benchimol told Bloomberg that the company will launch an exchange called XDEX in the coming months, with around forty employees. Grupo XP is the biggest financial group in Brazil, comprising companies with various business models. XP has reportedly set a goal to have $1 trillion reais ($245 billion) under custody by 2020, which is four…

South Korean Gov’t Pledges Support for Blockchain Startups to Facilitate Industry Growth

The Korean Ministry of Science and Information Communications Technology (MSICT) has pledged further support to facilitate the growth of the domestic blockchain industry, Business Korea reported September 21. Second Minister of Science and ICT Min Won-ki held a meeting with blockchain startups as part of the government’s effort to establish contact with organizations in what it has dubbed the 10 key ICT sectors of the Fourth Industrial Revolution. The agenda for the meeting was devoted to blockchain pilot projects initiated by the government in order to bolster the blockchain market…

Celsius Network to Manage Funds for United Nations Initiative

Decentralized lending and borrowing platform Celsius Network will manage the Sustainable Development Goals Impact Fund (SDG Impact Fund) within the United Nations’ Sustainable Development Goals initiative, according to a press release published September 21. The Sustainable Development Goals is an international program focused on bringing a “better and more sustainable future for all.” It addresses global challenges such as poverty, inequality, climate change, environmental degradation, prosperity, and peace and justice. The initiative aims to achieve a series of targets by 2030. Per the announcement, the SDG Impact Fund will be…

XLM Cryptocurrency Ready to Resume Rally

The Stellar price has been rising steadily over the last two days. On Friday, Sept. 21, it is trading at 0.2514, adding 8.60% to its value. This rally is based on both tech signals and the overall market trends, says Dmitriy Gurkovskiy, chief analyst at RoboForex. On H3, Stellar is rising after the MACD convergence and the descending channel resistance breakout. The local target is at the long term channel resistance, i.e. 0.2750. The support is now the ex-resistance, which was previously broken out. The rally is also supported by…

Bitmain Unveils Next-Generation ASIC Chip to Be Integrated into New Antminer Machines

Bitcoin (BTC) mining behemoth Bitmain has unveiled its next-generation ASIC chip soon to be used in the firm’s new “Antminer” crypto mining machines, Reuters reports September 21. An Application-Specific Integrated Circuit (ASIC) chip is a piece of tailored mining hardware geared to mine cryptocurrency based on a specific hashing algorithm. Bitmain CEO and co-founder Jihan Wu reportedly announced the new crypto-mining-specific ASIC chip BM1391 during his keynote lecture at the World Digital Mining Summit in Georgia. According to Wu, Bitmain has now started to mass produce the chip and plans…