Bitcoin Drop | Bitcoin Loses $200 in 24-hours, Crypto Market Follows

The crypto market is suffering huge losses across the board today. And leading the drop-off is the largest coin by market cap; Bitcoin dropped from over $6,500 to a new two-week low of $6,243 in early trade today. The coin has lost over $200 in a 24-hour period, and as happens more commonly than not, there is no definite reason for the sudden drop. Bitcoin Drop The sudden Bitcoin drop has come somewhat as a surprise. The world’s biggest coin has been hovering between $6,600 and $6,400 for 14-days straight. A…

SC Johnson will Offer Crypto for Recycling in Indonesia Soon

SC Johnson has just announced that it has teamed up with Plastic Bank to reduce the global ocean plastic crisis happening around the world. The companies are currently trying to increase recycling rates in impoverished communities within Indonesia, while also trying to address the challenges of poverty. SC Johnson Blockchain SC Johnson and the environmental organization are planning on opening eight plastic recycling centers in the future and will offer its local tokens for the waste collection. The first center will officially open on October 8th in Bali. The press release…

Bitcoin Price Intraday Analysis: BTC/USD Breaks Stability, Falls

The downside pressure renewed in the bitcoin market after two weeks of firm action. The bitcoin-to-dollar exchange rate on Monday dropped by more than 3 percent, breaking below the critical support level near 6300-fiat. The pair formed intraday lows on a downtrend towards 6212-fiat, only to find a weak bullish sentiment. The price has corrected ever since and is showing signs of weak sideways consolidation. A pennant formation is likely at this moment before BTC/USD continues to its downward action. The US Dollar Index (DXY) looks bullish at the beginning…

Korean Crypto Exchange Earns Key Government Cybersecurity Certification

South Korean cryptocurrency exchange GOPAX has become the first blockchain company to attain K-ISMS certification, the official standard in Korea for information security management systems. This is an important sign of approval by the Korean government regarding GOPAX’s cybersecurity infrastructure. K-ISMS certification is an official domestic standard regarding the establishment, management and operation of information security systems for selected industries including server hosts, portal services and internet service providers. Based on Article 47 of the Act on Promotion of Information and Communications Network Utilization and Information Protection (“the Network Act”),…

Three Years Later, Ethereum’s Hottest DApps Are (Still) ICOs and Cats

With Ethereum’s launch in 2015 came a flurry of excitement over the future potential of smart contracts. Utilizing a more flexible scripting language than Bitcoin, the platform’s decentralized applications (DApps) were touted by proponents as unlocking a plethora of formerly untapped use cases for the blockchain. From tokenized assets and blockchain-based legal contracts to healthcare records and supply chain tracking, DApps are going to remold traditional industries in their image, solve bottlenecks and revolutionize enterprise inefficiencies out of existence. More than three years later, and we’re still waiting for the…

Bitcoin Reaches October 2017 Volume as ETH, XRP, and BCH Fall 4%

Over the last 24 hours, the volume of Bitcoin has increased by yet another 10 percent from $3.5 billion to around $3.8 billion. On October 28, the volume of Bitcoin increased by around 20 percent from $3.1 billion to $3.5 billion, showing strong and sustainable momentum in the lower region of $6,000 for the first time since mid-September. Still Low Volume, But What Happened in November? As cryptocurrency investor and technical analyst Hsaka recently stated, the volume of Bitcoin has declined to the October 2017 level. Trading activity in the…

Bitcoin Price Drops $200 to Hit Two-Week Low

After nearly two weeks stagnating at around $6,400, bitcoin (BTC) has suddenly dropped out of the trading range. At 12:00 UTC, the world’s largest cryptocurrency by market capitalization dropped nearly $200 to reach a two-week low of $6,243. For the last 14-days, bitcoin had been stuck in a range of $6,590-$6,403 – its least volatile stretch since April 2017, according to CoinDesk’s Bitcoin Price Index (BPI). The squeeze in bitcoin prices had been somewhat surprising, since the cryptocurrency has shown to be correlated with the equities markets which are about to end…

USD-Pegged Cryptocurrency Tether [Briefly] Returns to Dollar Parity

Tether (USDT), the USD-pegged cryptocurrency that spent nearly half of October trading below $1.00, finally returned to dollar parity on Monday, though it remains to be seen whether it will stay there amid mounting competition from heavyweight competitors. Tether [Briefly] Returns to Dollar Parity The controversial stablecoin, which is supposedly backed by physical USD at a 1:1 ratio, briefly touched the $1.00 mark this morning, putting a temporary end to the USDT/USD discount that originated at the beginning of October. Source: CoinMarketCap Initially, that discount represented just a fraction of…

South Koreans Getting Back into Crypto as Fiat Trading Rises

The conducive developments in South Korean crypto space have boosted fiat influx into the market, reveals this month’s data. eToro eanalyst Mati Greenspan pitted Korean Won against the most volumed bitcoin-quoted assets, including the US Dollar, Euro, the Pound and also Tether. The comparison revealed a dramatic surge in the BTC/KRW trading volume compared to other instruments that remained mostly stable throughout this October. SOURCE: CRYPTOCOMPARE.COM  Japanese Shift Theory While the Korean Won volume surges against Bitcoin, the one that fell in response is that of the Japanese Yen. At the beginning…

Bitcoin Exchange Bitstamp Confirms Sale to Gaming Group NXC

Cryptocurrency exchange Bitstamp has been acquired by NXMH, an investment firm based in Belgium and owned by South Korean conglomerate NXC. In a deal signed last Thursday, the firm took a majority ownership stake in the exchange. Bitstamp CEO Nejc Kodrič will retain a minority ownership stake and continue running the startup’s operations. The terms of the deal, including the sale price, were not disclosed. Bitstamp backer Pantera Capital will also retain a 6 percent ownership stake in the exchange, according to statements, and Bitstamp will continue to operate independently. NXMH’s parent company,…