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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 666 rated postsSam Bourgi is Chief Editor to Hacked.com, where he leads content development for one of the world's foremost cryptocurrency resources. Over the past eight years Sam has authored more than 10,000 articles and over 40 whitepapers in the fields of labor market economics, emerging technologies, cryptocurrency and traditional finance. Sam's work has been featured in and cited by some of the world's leading newscasts, including Barron's, CBOE and Forbes. Contact: sam@hacked.com Twitter: @hsbourgi




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No Signs of Crypto Revival as Weekend Begins; XRP Overtakes Ethereum by a Wider Margin

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Cryptocurrencies

Bitcoin and alternative cryptocurrencies remained under pressure Saturday following one of the worst drops of 2018, as the fallout from the bitcoin cash hard fork offered little reassurance that the market had moved past the divisive rhetoric.

Market Update and XRP/Ethereum “Flippening”

The combined market value of all cryptocurrencies averaged $183 billion on Saturday, according to CoinMarketCap. Crypto values bottomed at 13-month lows Thursday and have since made only a modest recovery attempt.

Total trade volumes have declined sharply over the last 48 hours, falling from a high near $25 billion all the way back down to $13.6 billion. The top-three exchanges by daily trade volume – Binance, OKEx and Huobi – reported double digit declines in turnover.

In terms of individual coins, bitcoin saw an average exchange price of $5,567, down 0.6% compared with Friday. At current values, BTC has a total market capitalization of $96.8 billion.

Ethereum, bitcoin cash and Litecoin all reported 24-hour losses. As Hacked reported earlier, the ETH price is moving within a strong demand area, which could generate a large rally in the short term.

Amid the downtrend, XRP once again emerged as the standout performer. The so-called banker’s cryptocurrency has gained 1% in the last hour and 3.2% compared with Friday to trade at $0.4855. Over the past seven days, XRP has declined just 4.4%. Among top-ten coins, losses ranged between 6% and 20% over the same period.

Perhaps more importantly, XRP has widened its lead over Ethereum in terms of market cap. At the time of writing, XRP was valued at $19.6 billion compared with $17.9 billion for Ethereum.

Bitcoin Cash Hard Fork Aftermath

The cryptocurrency market lost a staggering $37 billion over a two-day selloff that centered on a highly contentious hard fork of bitcoin cash. As Hacked and CCN reported Friday, bitcoin ABC appears to be winning the hash war, with the primary implementation of BCH mining more blocks and featuring more transactions than the competing bitcoin SV chain.

That said, the bitcoin SV camp has reminded observers that the battle for network dominance is a marathon and not a race. Craig Steven Wright, the most vocal supporter of bitcoin SV, tweeted Friday that “We are just at the trials and not yet on the finals to Marathon.” As the battle continues, Wright has warned that the price of bitcoin will continue to be depressed for the foreseeable future.

Roger Ver’s Bitcoin.com mining pool recently announced it was diverting all of its hash power to mine bitcoin ABC blocks. This includes temporarily reallocating hash power from BTC blocks to mine the new chain. The announcement created a bit of a firestorm on Twitter, with some users threatening to take legal action because they have no intent on mining BCH.

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 666 rated postsSam Bourgi is Chief Editor to Hacked.com, where he leads content development for one of the world's foremost cryptocurrency resources. Over the past eight years Sam has authored more than 10,000 articles and over 40 whitepapers in the fields of labor market economics, emerging technologies, cryptocurrency and traditional finance. Sam's work has been featured in and cited by some of the world's leading newscasts, including Barron's, CBOE and Forbes. Contact: sam@hacked.com Twitter: @hsbourgi




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Factom (FCT) Rides Recovery to 65% Gains as Mortgage Service Adopts Blockchain

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Factom (FCT) climbed 65% from Wednesday through Saturday, as it continued to ride the recovery wave while the rest of the market stalled.

The price surge comes amid news that Factom’s Harmony blockchain-as-a-service (BaaS) technology is to be used by mortgage software and marketing firm, Equator, as a way to increase efficiency.

Factom Price on the Move

The press release announcement landed on November 13th, just as the recent market dip struck which wiped $38 billion off the global market cap. The value of FCT sunk along with the rest of the market, hitting a new 20-month low of $3.81, and a market cap of just over $30 million.

Since then, however, FCT’s fortunes turned round and the coin went on a day-on-day growth surge up to a price of $6.30 – a 65% increase. That was enough to take Factom’s market cap to over $50 million, and send it into the top hundred coins by market cap.

Of FCT’s trade action for Saturday, 100% of trades have come against BTC. Factom only has one other trading pair to its name – the CK USD (CKUSD) stablecoin. Poloniex catered to the majority of movements, with Bittrex, Upbit and Cryptopia picking up the rest.

Factom Gains Mortgage Service Use-Case

As per the press release which announced Factom’s new partnership:

“Equator, an Altisource business unit and a leading provider of residential loan default software and marketing solutions for many of the country’s top servicers, real estate agents and vendors, today announced an agreement with Factom, Inc. to integrate the Factom® Harmony blockchain-as-a-service (BaaS) platform into the Equator® PRO solution.”

According to the press release, Equator PRO is a software-as-a-service (SaaS) solution that aims to offer efficiency and oversight to help other mortgage servicers. Their platform includes but is not limited to:

“…loan management, loan modification, short sale/deed-in-lieu, foreclosure/bankruptcy, and real estate owned (REO) focused products…”

In the plainest of language, Factom just got a real-world use-case for its blockchain tech. Thus far, the technology is expected to be used to:

“…provide a distributed mechanism to preserve data, files and digital records, making them verifiable and independently auditable…”

Celebrations

Patrick G. McClain, Senior Vice President of Equator talked up the partnership, stating:

“Incorporating Factom’s blockchain tools will support our customers’ compliance obligations. At Equator we are regularly working to improve and advance our default servicing technology, and adding cutting-edge tools like Factom’s Harmony is another example of our continued leadership.”

Chief Operating Officer of Factom, Laurie Pyle, also celebrated the news, stating:

“At Factom we know a practical blockchain solution is needed to specifically deal with complex business data and documents. We look forward to working with Equator, who shares the vision of using blockchain technology to bring transparency and efficiency to the default servicing process.”

Factom launched just over three years ago and was subject to lots of positive chatter up until the ICO era came into play, and Factom was relegated from CoinMarketCap’s first page.

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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4.4 stars on average, based on 89 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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Ethereum Price Analysis: ETH/USD Has Big Opportunity to Fly Again

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  • ETH/USD is running at seven consecutive sessions of losses, dropping as much as 25%.
  • Price action is moving within a strong demand area, which could very well see the price rocketing again.

Current Price Action

ETH/USD is stuck within a stubborn downward trend. The price is running at a seven consecutive session losing streak. During this time period, ETH/USD has dropped as much as 25%, falling from $226, down to recent lows of $171.95. This is the biggest weekly loss seen since the bear market back in September.

The price was trading in a consolidation manner; this had been the case after the above-mentioned bear market drop. ETH/USD at the time had dropped as much as 45%, before finally staging a recovery. Since the bounce on 12th September, price action began to form a bearish pennant pattern, which was then firmly broken on 14th November.

ETH/USD daily chart

Buying Opportunity  

At the time of writing, ETH/USD is seen trading deep within a known demand area. Buyers last pilled in and drove the price north, back on 12th September, as detailed above. It had gone on to gain a whopping 50%, following the hammer candlestick reversal confirmation. The demand can be eyed around the $170 territory.

Eyes should be on indications of a reversal, the potential for a signal from a candlestick formation, similarly to the prior mentioned recovery. In terms of the RSI via the daily time frame, ETH/USD is very much in oversold territory. The index seen around the 27 level at the time of writing, which could see the price soon bottoming out.

Upside Targets

Should life be kicked back into the bulls, another retest of the breached pennant pattern would likely be seen. Resistance underneath the pennant should be noted at the psychological $200 mark. The bears firmly ran through this price level on 14th November. Further north, another barrier can be observed at $230 area, a known supply zone.

There has been much debate over the past couple of months, as to whether the cryptocurrency market has hit the bottom. Many believed that this was the case, after the deep September drop. While some were still calling another corrective fall. Once some stabilization from the bulls is seen and recovery picks up momentum, this may be the last of the bears for 2018.

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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4.5 stars on average, based on 54 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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Hacked.com and its team members have pledged to reject any form of advertisement or sponsorships from 3rd parties. We will always be neutral and we strive towards a fully unbiased view on all topics. Whenever an author has a conflicting interest, that should be clearly stated in the post itself with a disclaimer. If you suspect that one of our team members are biased, please notify me immediately at jonas.borchgrevink(at)hacked.com.

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