InCoin Eng (crypto news)

2021-03-22 11:16:24 SEC: Exchanges that trade XRP do not violate regulations

Other than Ripple and its employees, no investors, exchanges, or other platforms are violating Securities and Exchange Commission (SEC) guidelines by selling XRP tokens. The statement was made by a lawyer for the regulator in court, said attorney Jeremy Hogan.

He called the announcement one of the "bombshells that exploded" during the hearing.

Magistrate Judge Sarah Netburn asked a Commission spokeswoman whether everyone who sold tokens had broken the law.

"No, under Section 4 only Ripple and its affiliates can illegally sell XRP," Hogan was quoted as replying.
In his opinion, the SEC lawyer's statement opens the door for venues that had previously suspended trading in the asset to resume supporting it.

Hogan's second key point in the hearing was that the judge said she understood XRP to not only be a monetary unit but also to be different from bitcoin and Ethereum in its "usefulness. Open / Comment

2021-03-21 19:01:54 German authorities urge citizens not to invest in bitcoin

The EU's Securities and Markets Authority recently issued a report noting that investors buying cryptocurrencies are taking a big risk.

The digital asset market is not controlled by anyone. Accordingly, one should avoid it in order not to become a victim of fraud or lose money as a result of increased volatility.

The press service of the German Federal Financial Supervisory Authority (BaFin) issued a similar statement on Friday, warning citizens against activity on the crypto market.

The regulator stressed that anyone buying BTC or another coin should be aware of the risks involved.

Germany is already in the process of gradual legalization of the cryptosphere. However, there is still no regulatory framework that would provide full protection for crypto traders. Open / Comment

2021-03-21 16:28:03 Ethermine mining pool's bot frontrunner lost 100 ETH due to "toxic" token

On March 17, Ethermine confirmed the launch of a frontrunning system that allows it to earn extra income through the special position of miners on the Ethereum network.

In response to the miners, developer CodeForcer created a "poisonous" Salmonella contract. "This is a regular ERC20 token that behaves similarly to any other token in normal application scenarios. However, it has special logic built into it that determines when a transaction with it is made by someone other than the established owner. In such situations, it returns only 10% of the set amount, despite the inclusion of the transaction in the event log for the full amount."

Within hours, the bots made two Salmonella purchase transactions: for 68 and 35 ETH. Also in the process, 17 trading contracts of a similar plan were emptied for significantly smaller amounts. Open / Comment

2021-03-20 20:22:05 AMD is not going to limit the power of its video cards when mining

Representatives of the technological giant said this during a preliminary briefing to PC Gamer. This way, the employees of the company made it clear that they are not going to create problems for the fans of cryptocurrency mining.

That is, the miners will not have to face any software limitations from the manufacturer. And this is good for the reputation of the company. Still, Nvidia - although it is essentially the company itself helped to overcome the restrictions - initially created problems for miners.

However, there is a small catch here: AMD will optimize its video chips primarily for gamers.

AMD RDNA in video cards is designed from scratch specifically for games. Therefore it will not be possible to squeeze incredible results in cryptocurrency mining out of the new products. Open / Comment

2021-03-20 18:16:37 USDC capitalization exceeded $10 billion

The USDC, a stabelcoin pegged to the U.S. dollar, has surpassed $10 billion for the first time.

USDC is currently the second-largest stablecoin in terms of supply, with a value of $10.7 billion. In addition to Ethereum, USDC also runs on the Algorand, Solana and Stellar blockchains.

Tether (USDT) remains the largest stackablecoin by supply, with a total supply of about $40.6 billion.

Additional data collected by The Block shows that USDC currently accounts for 16.69% of total stablcoin supply, compared to 69.95% of USDT.

As The Block Research's new report on Stablecoin shows, CENTER, a consortium co-founded by Coinbase and Circle, first released USDC in September 2018. Since then, funding for further development of Stablecoin has reached $45 million. Open / Comment

2021-03-19 17:19:00 Bybit launched ADA, UNI and DOT contracts with 25x leverage

Bybit, a cryptocurrency exchange offering digital asset derivatives trading, has launched three new perpetual contracts. New instruments are now available to users with Cardano (ADA), Uniswap (UNI), and Polkadot (DOT). All three coins are among the top ten by market capitalization.

All contracts give the opportunity to trade with a leverage of 25x - this is the maximum available on the exchange for such instruments.

The news had no effect on the price dynamics of ADA, UNI or DOT, but holders hope that in the future the launch of new leveraged instruments will increase trading activity and give prices an acceleration.

Earlier in the week, Cardano was up 45% and tested high at $1.50. However, a sharp correction pushed the coin back to $1.24. ADA lost 11% overnight, it's still up 10% on the week. Open / Comment

2021-03-19 12:52:00 Robinhood will add a cryptocurrency wallet function to its app

Robinhood is working on expanding its platform's cryptocurrency trading capabilities and repairing the reputational damage the company suffered earlier this year. The online broker's CEO Vladimir Tenev said this in a video posted on Robinhood's official YouTube channel.

"I pester our team of cryptographers and programmers in the same way that people on social media pester me. We'll try to get it done as fast as we can. We'll see. We may add some new cryptocurrencies along the way," Tenyev said.

Robinhood will hire a "ton" of new specialists to expand its cryptocurrency efforts. At the same time, Tenyev stressed that his company's main goal is to scale the platform and provide the right level of customer service. Open / Comment

2021-03-18 16:42:59 Ethereum 2.0 could displace bitcoin

Ethereum could displace bitcoin from the top of the list of assets by capitalization after the transition to the second version of the protocol. That's the view presented by Messari analyst Ryan Watkins on the FinTech Today podcast.

"Bitcoin looks more attractive compared to Ethereum as a savings vehicle - its monetary policy is predictable and its network is safe. The second most capitalized cryptocurrency could challenge that after it moves to Proof-of-Stake," the researcher said.

Watkins drew attention to the impending change in the economy amid the transition to ETH2 with the introduction of a mechanism to burn off some transaction fees. He believes this could lead to a reduction in the market supply of coins.

He stressed that a "massive and diverse" economy is built on the blockchain of the second most capitalized cryptocurrency. The booming decentralized applications sector will attract new users faster than bitcoin, he added. Open / Comment

2021-03-18 15:26:31 BTC Returns to $60,000 Thanks to Morgan Stanley and the U.S. Federal Reserve

The global market capitalization of cryptocurrencies rose 4.65% overnight, surpassing $1.8 trillion. It is now within a low of the previous record market high of $1.85 trillion set last weekend.

The bitcoin price has responded positively to two recent announcements. First, Morgan Stanley finally approved top cryptocurrencies. Second, the U.S. Federal Reserve hinted at a possible interest rate hike only in 2022.

Prior to these announcements, the price of BTC was sluggish after a record high of $61,711.87 on March 13. In fact, the entire cryptocurrency market has been bearish lately, despite BTC's recent ATH. As a result, BTC fell below the $54,000 level before good news helped the cryptocurrency recover. As of this writing, BTC is trading at $59,063.41 with trading volume of $64,328,473,882. Open / Comment

2021-03-17 16:31:32 Bitcoin has formed a top - Glassnode

Bitcoin's onchain sales performance by long-term hodlers (DHs) resembles the picture of 2017. This was the opinion expressed by Glassnode analysts in their weekly digest.

Coins with a last move age of at least six months were taken for the sample. In the chart below, the analysts depicted clusters of the distribution of DH coins within a bullish rally or extreme volatility in bear markets.

The dark purple waves are the movement of those very coins with more than six months of age. As you can see on the chart, DHs prefer to get rid of coins as they pass the previous historical high. Open / Comment