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Germany’s Second-Largest Stock Exchange Launches ICO, Crypto Trading Platform

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Boerse Stuttgart, Germany’s second-largest stock exchange, is launching a full-fledged trading venue for cryptocurrencies and initial coin offerings in an effort to pioneer the financial industry’s “digital transformation.”

“End-to-End Infrastructure for Digital Assets”

On Thursday, Boerse Stuttgart announced it is creating “end-to-end infrastructure for digital assets” that will complement its recently developed BISON trading app. BISON, which is scheduled for release later this year, is said to be the first crypto app to have full backing from a traditional stock exchange.

“After the start of cryptocurrency trading via BISON, there will soon be a platform for initial coin offerings (ICOs), a multilateral trading venue for cryptocurrencies as well as solutions for safe custody,” the exchange said in a statement. “Boerse Stuttgart Group thus continues to pursue its digitisation strategy and is becoming a pioneer for the digital transformation of financial markets and financial products.”

Stuttgart’s ICO platform will allow companies to issue their tokens for capital-raising purposes or to represent rights to underlying assets. The platform will also enable companies to carry out the entire token raise through a “standardized and transparent” process.

In terms of custody, Stuttgart claims it will offer “differentiated safety concepts” for cryptocurrencies that will first be available through Bison. In doing so, it becomes one of the first platforms to custody digital assets – a move that could spearhead adoption at the institutional level.

The Push for Mainstream Adoption

The race for crypto custody is heating up as pension funds, hedge funds and big banks seek greater exposure to digital assets. As the regulatory haze continues to clear, market players are developing new product lines to tap into the next wave of cryptocurrency adoption.

Coinbase, the U.S.-based digital currency exchange, is one such company betting big on institutional adoption. On Friday, the company announcement it plans to expand its custody service to include 40 more cryptocurrencies, including Ripple XRP.

In addition to XRP, Coinbase is planning to custody EOS, Monero, Dash and VeChain, among others.

Even bigger than the Coinbase announcement was the revelation that Intercontinental Exchange (ICE), the world’s biggest stock exchange operator, is planning a major foray into digital assets through its Bakkt startup company.

Efforts to bring cryptocurrency mainstream will only intensify as exchanges, startups and traditional financial services look to tap into the lucrative business. Although margins are likely to drop in the future, early adopters like Coinbase and Goldman-backed Circle have set a strong precedent for other companies looking to enter the space.

Roughly $10-$15 billion is traded daily on digital currency exchanges, according to CoinMarketCap. However, that figure represents only a fraction of what’s traded in over-the-counter markets.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.6 stars on average, based on 604 rated postsSam Bourgi is Chief Editor to Hacked.com, where he specializes in cryptocurrency, economics and the broader financial markets. Sam has nearly eight years of progressive experience as an analyst, writer and financial market commentator where he has contributed to the world's foremost newscasts.




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Altcoins

Is Litecoin’s Price Being Suppressed?

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Litecoin is facing a prolonged smear campaign that is prompting investors to short the digital currency in ever increasing numbers. Charlie Lee, Litecoin’s founder, recently took to Twitter to clear up the fear, uncertainty and doubt plaguing his protocol over the past three months. In a market that rises and falls on the turn of a speculative dime, Lee’s clarity can’t come a moment too soon.

Campaign Against Litecoin

Lee didn’t mince words on Thursday when he claimed that Litecoin’s price was being purposely suppressed by certain segments of the market. In a ten-post Twitter-storm, Lee explained that people and funds are shorting LTC because of its perceived threat on other protocols that can’t compete with its speed, security and liquidity.

From @SatoshiLite:

“Recently, there has been a concerted effort to suppress Litecoin price by people/funds that are shorting LTC and by groups that see Litecoin as a threat. I will clear up this FUD and show why Litecoin has tremendous value.”

Litecoin’s price has plummeted 45% over the past three months and has slipped further away from the market-leading headlines of early 2018. Litecoin appears to have lost all relevancy for laypeople and retail traders new to the space. Case in point: its Google Trend score is currently 2. It peaked at a perfect 100 in mid-December. What’s more, the Trend score has held single digits for over six months. This basically means people aren’t searching for Litecoin.

While people outside of Litecoin may not have noticed, the protocol is better today than it was during the height of the bull market thanks to improvements in Lightning Network, rising transaction volumes and increased support from payment processors. As Lee noted, LTC is supported by more than nine payment processors, including Alliant Payment, BTCPay, Coinbase and CoinGate.

Dispelling the FUD

Below is a rundown of the FUD-inducing headlines that Lee tackled on Twitter.

1. Litecoin can’t differentiate itself from other altcoins.

Lee: Litecoin is protected by $150 million in ASIC hardware and is one of the most secure coins available.

2. There’s no incentive for miners to attack the network because it will undermine the value of their ASIC hardware.

Lee: LTC’s liquidity and availability on practically every fiat-to-crypto exchange makes it one of the most widely available cryptocurrencies on the market (even more than Ethereum).

3. You can’t pay with Litecoin.

Lee: Not only is LTC supported by more than nine payment processors, its merchant acceptance is also growing significantly. LTC processes more than $200 million in transactions each day.

4. Litecoin is irrelevant since bitcoin can now scale with Lightning Network.

Lee: Several Lightning Network clients and apps already support Litecoin because they value the network. With atomic swaps, it’s not an either/or proposition when it comes to LTC and BTC. Also, “LTC interoperates with BTC on the Lightning Network.”

5. As a testnet of Bitcoin, Litecoin is not really worth $3 billion.

Lee: While Litecoin only has one use case (testnet), it has tangible value. Besides, it only has 3% of bitcoin’s market cap.

6. Litecoin has not done anything meaningful development-wise in six months.

Lee: People are looking in the wrong place. Although developers aren’t working on the master branch, they are still active behind the scenes. Versions 0.16.2 and 0.16.3 were released in the last two weeks.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.6 stars on average, based on 604 rated postsSam Bourgi is Chief Editor to Hacked.com, where he specializes in cryptocurrency, economics and the broader financial markets. Sam has nearly eight years of progressive experience as an analyst, writer and financial market commentator where he has contributed to the world's foremost newscasts.




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Crypto Update: Coins Settle Down After End-Of-The-Day Bitcoin Madness

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While the short-term technical setup has been little changed in the cryptocurrency segment in the past 24 hours, a volatile dump&pump period made headlines in Bitcoin. The most valuable coin got smashed lower right before the futures market close, violating the $6275 support and plunging as low as $6100, triggering a downgrade in our trend model to neutral. BTC than surged higher a few minutes later and shot up to the $6500 resistance before settling down near $6400, where it stands today in European trading as well.

The possible manipulation event (or simply a closing imbalance in the futures market) dragged the rest of the market with it, although the moves were less pronounced in altcoins, and today, the market has been calm across the board, with most of the majors sporting modest gains amid the improving sentiment. On a positive note, Ripple is holding on to its gains from Tuesday, and today’s new swing high triggered a buy signal, which is a much-needed positive sign for the still generally bearish segment.

BTC/USD, 4-Hour Chart Analysis

Bitcoin’s long-term outlook is unchanged but the quick recovery from yesterday’s spike lower is a plus for bulls, even as the $6275 level is still in focus and the coin still haven’t shown strong bullish momentum.

With that in mind, traders should still be cautious with new positions, since the short-term outlook for the segment remains mixed, and BTC continues to trade dangerously close to the key long-term zone near $5850. Below $6275 further support is found at $6000, while resistance is ahead at $6500, $6750, and $7000.

ETH/USD, 4-Hour Chart Analysis

Ethereum continues to trade at a very important technical juncture, trying to establish a short-term uptrend after last week’s rally and avoid a re-test of the bear market lows. The fact that Ethereum remained stable amid yesterday’s Bitcoin move, and recovered to its short-term trading range is positive, but the coin has to show bullish momentum soon to remain on a short-term buy signal.

A sustained move below $200 would warn of a re-test of the lows but a new swing high could open up the way towards $235 and $260, with further strong resistance ahead between $275 and $280. Traders could still enter new short-term positions, but full positions are still not recommended given the bearish long-term trend.

Ripple Hits 1-Month High Above $0.35

XRP/USDT, 4-Hour Chart Analysis

Ripple is rallying again today, scoring a new high above the key resistance zone near $0.35 and triggering a buy signal in our trend model with the bullish swing. The next major resistance zone is found near the $0.42 price level, close to the dominant broad declining trendline, with a weaker short-term resistance level at $0.3750, the August spike high, and found at $0.32, $0.313, and $0.30. The coin is still on a long-term sell signal, despite the current move, and traders shouldn’t enter full positions here.

LTC/USD, 4-Hour Chart Analysis

Litecoin is trading in a very narrow range today, and volatility declined progressively in since the selloff two weeks ago, which will likely lead to a strong momentum move as early as the coming days. A bullish move would be important for the whole segment, as it could point to a developing leadership, with Monero, Stellar, and Dash also being in possibly bullish setups. Primary resistance is ahead at $56, while support is found near $51.

Featured image from Shutterstock

Disclaimer:  The analyst owns cryptocurrencies. He holds investment positions in the coins, but doesn’t engage in short-term or day-trading, nor does he hold short positions on any of the coins.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.6 stars on average, based on 348 rated postsTrader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.




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Altcoins

Electroneum Coin Price Surges 31% On Launch of Instant Crypto Payment App

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The newly launched beta-version of the Electroneum mobile payment app went live this week. And as successful reports filter in from testers from around the globe, the good news is translating into positive sentiment on the exchanges for the ETN coin.

ETN Price On the Up

In the twenty-four hour period leading up to the morning of September 20th, ETN gained 31% on its value. The coin price climbed from the daily low of $0.005203, up to the latest peak of $0.006827.

New volume continues to pour in at time of writing, after climbing throughout the day from around $180,000 to $570,000 – just over a 216% increase. Weekly gains stand at 34%, but only really heated up in the last two days as news of Electroneum’s app came to be known.

ETN/BTC trades are the most dominant, with over 80% coming from Cryptopia and Kucoin alone. The coin had long been lingering outside the market cap top one-hundred after 85% losses from Q2 into Q3.

All-time lows were reached as early as April for ETN, and the coin continued to notch up new lows right through the year. Sentiment had perhaps soured on the coin after the company website suffered a DDoS attack in April of 2018, prompting them to lock user accounts and deny access to funds while they attempted to address the problem.

Electroneum App Rolls Out

The beta-version of the app was released this week, and Electroneum’s twitter feed was inundated with accounts from individual and business users who had successfully tested the product.

One video showed a merchant in Egypt demonstrate setting up the app to transact with the existing retail API most prevalent among retailers in the nation. Another batch of tests were carried out by users on Reddit, who successfully transacted some ETN between Japan and the U.S in a matter of seconds.

Last night, founder and CEO Richard Ells released this blog post celebrating what appears to be a successful beta-launch, saying:

“Easy access for users was the first step and we’ve now had over 1m app installs and we’re proud to say the Electroneum app has the same retention level as Instagram (®)!”

According to Electroneum, they currently have over 1.6 million registered users. If true, that would make it one of the most adopted crypto apps to date. The blockchain-based social media site, Steemit, has been around for over two years, and has just over 1.1 million registered users.

It’s worth noting that the app requires some level of centralization. Essentially it is running a centralized app on top of a decentralized blockchain. The company say this is required since waiting for block confirmations would make merchant payments impractical.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.4 stars on average, based on 58 rated postsGreg Thomson is a full-time crypto writer and digital nomad. He eats ICOs for breakfast and bleeds altcoins. Wherever he lays his public key is his home.




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