Daily Cryptocurrency Bulletin For Tuesday, July 9, 2019

July 9, 2019 2:21 pm Published by

General News

Binance has announced it has adjusted its systems so the number of block confirmations has been halved for Bitcoin deposits to 1 block confirmation. Withdrawals will take two confirmations. For Ethereum and ERC-20 tokens, 12 block confirmations are now required for deposits and withdrawals – down from the previously required 30 confirmations.

Grayscale Investments has resumed private placement of Grayscale Bitcoin Trust (GBTC) shares. This comes as the WSJ reports GBTC is up almost 300 percent on the year – indicating the fund’s returns has secured its spot as the best-performing fund in the market.

Mt Gox creditors can now sell their debt to private equity firm Fortress Investment Group for $900 per BTC – 200 percent more than BTC’s bankruptcy value at the time.

ShapeShift’s new one-stop shop for crypto trading and non-custodial crypto management is launching out of private beta today – rivalling Coinbase for ease-of-use whilst giving users full control of their private keys. Using the platform requires a connected hardware wallet, like Trezor or KeepKey, which ShapeShift acquired in 2017. 

China’s central bank could hasten development of its own digital cash due to the threat of Facebook’s Libra, according to Wang Xin, head of research at the People’s Bank of China (PBoC). This comes as the blockchain trade finance solution of the PBoC processed more than 30 billion yen ($4.36 billion) in foreign exchange transactions.

The New York Attorney General’s Office (NYAG) has submitted new evidence showing Bitfinex and Tether had served New York customers longer than they claimed – logging in to its platform as recently as Dec. 18, 2018. Further evidence of Bitfnex’s affiliations with Galaxy Digital and New York banks – Signature Bank and Noble Bank – and at least “one other New York-based financial institution” have been shown to the Supreme Court. 

Cryptocurrencies 

Bitcoin $12,317.54 USD (3.93 percent) mining difficulty has posted its largest two-week increase in 12 months – a sign competition among miners is intensifying at an accelerated rate. Similarly, the amount of computing power devoted to securing the network has also logged the biggest growth of any two-week period since August 2018.

Bitcoin Cash $419.86 USD (1.49 percent) has a new exchange-traded product (ETP) now available on the Swiss stock exchange SIX, under the “Amun Bitcoin Cash (ABCH) ETP.”

Litecoin $419.86 USD (1.49 percent) is the third most popular coin for purchases behind BTC and ETH according to data from crypto payment processor CoinGate. They show the number of people paying with LTC has been on the rise since February this year.

Tron’s $0.034378 USD (0.29 percent) price dropped yesterday following inaccurate rumours of a “police raid” at the company’s office in Beijing. In fact, the police arrived to protect the office from “people [who] were deceived by the so-called ‘Wave Field Super Community,’” a group that used the “Chinese-language version of TRON’s name to defraud investors. The victims had been promised high rates of return on their investments in the name of TRON, BitTorrent and uTorrent” the company wrote. Meanwhile, BitTorrent has launched its downloads optimization software, BitTorrent Speed, with native token functionality and integrated wallet. BitTorrent Speed users will be rewarded with BTT in exchange for seeding and bandwidth — earning more tokens the longer they seed files and attaining faster downloads the more BTT they are willing to spend.

– WN.com, Jamie Saarloos



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