Cryptocurrency Daily News Bulletin, January 26

January 26, 2018 12:42 pm Published by

Please note: Information on this post should not be construed as personal investment advice. Prices were correct at the time of writing.

General

 

Coincheck Exchange. Early this morning (GMT), Japanese cryptocurrency exchange Coincheck suspended withdrawals, halted trading in all tokens, except Bitcoin, and stopped deposits into NEM coins, without explaining why. This appears to have caused a significant decline in prices across the board, with Bitcoin dropping by approximately $1,000, as investors responded to the fear of another major hack. A Ripple payment worth $123mln left Coincheck’s wallet, while unconfirmed reports allege that $600 mln of NEM has left the exchange. According to data service Coinhills, Coincheck had more than 11 per cent of global bitcoin trading over the last 24 hours, second only to its Japanese rival Bitflyer. https://goo.gl/8iQQBy https://goo.gl/cfscsk

CME Futures. CME futures contracts are due to expire today. According to newsbtc.com, this may cause more downward pressure on markets. CME futures are tied to 5 Bitcoins – CBoE’s contract, which expired early in the month, was only tied to one. For this reason, newsbtc.com speculates that the expiration of the CME futures could have a bigger impact. https://goo.gl/rSZoso

World Economic Forum at Davos. U.S. Treasury Steven Mnuchin, British Prime Minister Theresa May, and IMF head Christine Lagarde, who are all currently attending the Davos summit in Switzerland, each spoke yesterday about the connection between cryptocurrencies and illicit activities. British Chancellor of the Exchequer, Phillip Hammond, explicitly called for regulations to govern the trading of Bitcoin, whilst also praising this potential of the blockchain technology which powers it. https://goo.gl/TZGBvs https://goo.gl/knFcqP

Goldman Sachs. A number of reports published in October and December suggested that the Goldman Sachs had plans to create a bitcoin trading desk. While speaking at the World Economic Forum at Davos, Lloyd Blankfein, Goldman’s CEO, said that the reports are “not true.”  https://goo.gl/w6Vv4J

Russia. The Russian government is finalizing the federal law for the regulation of cryptocurrencies and initial coin offerings. The draft law has now been officially published. It regulates the creation, issuance, storage, and circulation of cryptocurrencies. https://goo.gl/tHxBd7

Coinbase and Trading Technologies Partnership. Coinbase has announced a partnership with Chicago-based technology provider, Trading Technologies International. Together, they hope to make cryptocurrency investing more appealing to traditional financial service firms. https://goo.gl/JmMjrn

 

Individual Currencies

 

Bitcoin (-6.68%)

(Positive) Stock trading app provider Robinhood announced yesterday that it has plans to roll out trading services for Bitcoin and Ethereum via its mobile app in the coming month. The exchange promises to offer “zero fee” trading. To start with, the service will only be offered to users in California, Massachusetts, Missouri, Montana and New Hampshire, but more states are set to follow. https://goo.gl/f1yvTY

https://coinmarketcap.com/currencies/bitcoin/

 

NEM (-19.10%)

(Negative, unclear) Unconfirmed reports to Cointelegraph allege that $600 mln of NEM has left Japan’s Coincheck exchange, which has halted trading of NEM (see ‘General Section’ for more details). https://goo.gl/cfscsk

https://coinmarketcap.com/currencies/nem/

 

Bitcoin Cash (-8.75%)

(Positive) During an appearance on CNBC’s Fast Money on January 25, internet entrepreneur Vinny Lingham predicted that bitcoin cash will surpass bitcoin. https://goo.gl/StNh7x

(Positive) Bitcoin Cash’s developers have announced that they are planning to increase block size to 32mb later this year. https://goo.gl/QAqV9c

https://coinmarketcap.com/currencies/bitcoin-cash/

 

Aeternity (+4.48%)

(Positive) Aeternity has launched a partnership with Erlang Solutions, which has expertise in Erlang and Elixir. It is hoped that the partnership will help to scale Aeternity’s distributed system. https://goo.gl/nGGCEE

https://coinmarketcap.com/currencies/aeternity/

 

Ripple (-11.68%)

(Negative, unclear) Japanese cryptocurrency exchange Coincheck has suspended all withdrawals as a Ripple payment worth $123mln left its wallet today. https://goo.gl/cfscsk

https://coinmarketcap.com/currencies/ripple/

 

Maidsafe (-9.38%)

(Positive) Maidsafe has released a development update, which discusses product developments, newly hired staff, and its new offices in India. https://goo.gl/CZQAPm

https://coinmarketcap.com/currencies/maidsafecoin/

 

Ethereum (-3.72%)

(Positive) Stock trading app provider Robinhood announced yesterday that it has plans to roll out trading services for Bitcoin and Ethereum via its mobile app in the coming month. The exchange promises to offer “zero fee” trading. To start with, the service will only be offered to users in California, Massachusetts, Missouri, Montana and New Hampshire, but more states are set to follow. https://goo.gl/f1yvTY

https://coinmarketcap.com/currencies/ethereum/

 

EOS (-4.01%)

(Negative) Ethereum’s founder, Vitalik Buterin has criticized aspects of EOS’s project. https://goo.gl/1TrEjK

https://coinmarketcap.com/currencies/eos/

 

Stellar (-10.00%)

(Positive) On January 25, Stellar released a new roadmap for 2018. https://goo.gl/n7zyEb

https://coinmarketcap.com/currencies/stellar/

 

Siacoin (-4.66%)

(Positive, unclear) Siacoin have published a public statement responding to the recent controversy surrounding Bitmain’s potential impact on the project (see previous bulletins). VP of Operations, Zach Herbert issued a long statement outlining that his conviction that “at this point in time, choosing to fork would mean compromising on our values as a company and a community, even though Bitmain poses a serious threat to the Sia network.” https://goo.gl/u1fX1F

https://coinmarketcap.com/currencies/siacoin/

 

– WN.com, Robert Maxwell



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