Crypto Market Records Decent Gains But Bitcoin Must Rise Above $4,500

In the past 24 hours, the crypto market added $3 billion to its valuation as Bitcoin (BTC) and Ethereum (ETH) performed relatively well against the U.S. dollar. Several crypto assets in the likes of Litecoin, TRON, and Cardano recorded the largest gains on the day in the range of 6 to 12 percent. Bitcoin Has Needs to Break Above $4,500 As the cryptocurrency market avoided a further drop below the $130 billion mark, Bitcoin defended the $3,800 level and stabilized at around $3,850. According to a technical analyst with an…

Why Bitcoin Bubble Bursting is Good for Entire Crypto Space

Even the most ardent crypto evangelist must admit that bitcoin appears to have been the worst investment of 2018, at least in pure dollar terms. The cryptocurrency has lost almost 80 percent of its market capitalization since it established an all-time high at around $327.15 billion. The adoption rate and volume have dropped likewise. Organizations that were planning to launch their bitcoin-based services have delayed their projects or scrapped them entirely. As any seasoned trader would say, the bitcoin bubble is bursting — or has burst already. The Anatomy of…

Bitcoin Payments Aren’t Dead, They’ve Just Gone Niche

When Frank and Nikki McKeever founded their small art retailer in Florida in 2012, they never could have imagined that cryptocurrency would become an integral part of their business. In September 2017 – a period of surging cryptocurrency prices and publicity – the Lynx Art Collection began offering crypto-themed artworks with litecoin, monero, ether, and bitcoin payment options. Yet even when market prices dipped, their gallery sales continued climbing. “The bear market didn’t really affect our sales throughout the majority of 2018,” Frank McKeever said. Revealed exclusively to CoinDesk, the Lynx…

The False Promise Blockchains Will Revolutionize Real-World Assets

Farzam Ehsani is co-founder and CEO of VALR.com, a digital asset trading platform. The following is an exclusive contribution to CoinDesk’s 2018 Year in Review.  In 2018, as cryptocurrency prices declined, the corporate-blockchain-marketing machine continued to hum unabated. Corporates continued to issue press releases about their “world-first” blockchain implementations that were going to solve the world’s greatest challenges. Here’s the thing. If you lived at the time of Alexander Graham Bell and heard about a new invention that promised to radically transform communication, you would be forgiven for thinking that the…

2018: When Privacy and Decentralization Collided

Guy Zyskind is the CEO and co-founder of Enigma, a secure computation protocol that integrates with blockchains. The following is an exclusive contribution to CoinDesk’s 2018 Year in Review. In 2018, two major long-term trends finally collided in a very public fashion. The first trend was the over-centralization of online platforms. For years, Facebook, Google and others accumulated power and influence by centralizing user behavior. Products given to users “for free” created closed systems and echo chambers designed to keep users inside siloed ecosystems. In turn, platforms repackaged these captured users…

Initial Exchange Offerings Restore Agility to Blockchain’s Original Fundraising Model

One of the most groundbreaking concepts to emerge from blockchain over its short lifespan has been the initial coin offering, or ICO. In this article, the author will discuss an emerging trend called “Initial Exchange Offerings” or IEOs. Reading about blockchain or cryptocurrency in any newspaper will allude to this unique type of public offering, which draws parallels with its cousin the IPO. An ICO is when a company issues blockchain tokens that it will then sell in exchange for common cryptocurrencies like Bitcoin or Ethereum, which are more fungible.…

Ethereum Studio ConsenSys Teams Up With Chip Manufacturer AMD

Ethereum development studio ConsenSys is partnering with computer chip maker AMD to develop a new cloud computing infrastructure based on blockchain technology. The startup announced Friday that it was working with AMD and Abu Dhabi-based investment firm Halo Holdings on W3BCLOUD, a cloud computing architecture supported by the manufacturer’s computing hardware designed specifically for supporting decentralized applications. ConsenSys will provide expertise on how blockchain transactions may need to be processed, as well as use cases, through this partnership. In a statement, AMD’s director of product management for blockchain technology, Jerog Roskowetz,…

Overstock Makes Key Executive Change at Blockchain Subsidiaries

Medici Ventures, the blockchain investment arm of Overstock, is reassigning a top executive to focus on revenue generation at its most prominent portfolio company, tZERO. Steven Hopkins, the chief operating officer of Medici, planned to resign from that job to become chief revenue officer at tZERO, a regulated exchange for security tokens, according to a December 28 Securities and Exchange filing by Overstock. The appointment was to follow the conclusion of a deal in which tZERO would buy 67 percent of the crypto wallet startup Bitsy from Hopkins and his…

Stablecoin Issuers May Need Licenses in Texas, Unlike Most Crypto Startups

Stablecoins may qualify as “money” under Texas law, according to updated guidance from the state Department of Banking. A memo published Wednesday by Texas Banking Commissioner Charles Cooper outlines how cryptocurrencies are to be treated under local and federal regulations, in particular adding details of how stablecoins backed by sovereign, or fiat, currencies may be assessed. The guidance builds upon a previous memo released by the state in 2014, which described how cryptocurrency companies with operations in Texas should treat the nascent asset class. As in the previous version, Cooper…

‘Crypto Needs Rules’ Says New Gemini Ad Campaign

The Gemini cryptocurrency exchange founded by the Winklevoss twins in 2014 is calling for better regulation of the crypto space in a new ad campaign, the Wall Street Journal (WSJ) reports on Jan. 4. Placards on taxis and in the New York City subway contain slogans like “crypto needs rules” while simultaneously suggesting that Gemini already provides a regulatory compliant exchange for investors. Other slogans include “money has a future” and “crypto without chaos.” Chris Roan, head of marketing at Gemini, told the WSJ: “We believe that investors coming into…