Cryptocurrency Market Trends | Showing Bearish Prospects

Cryptocurrency markets have been under pressure over the last week albeit extensive support from market activities and bullish price bets. The total cryptocurrency market capitalization continues to trade in the range of $400 billion as market trends aren’t supporting bulls stance. Traders aren’t giving weight to Goldman Sachs move into the cryptocurrency market along with increasing adaptation from Wall Street. Intercontinental Exchange (ICE) ICE recently announced it will launch cryptocurrency trading while NASDAQ has also been showing their interest in the cryptocurrency sphere. Bitcoin currently trades around $8,400 after hitting the…

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Crypto Adoption In Australia | Ban On Cash Purchases Over $7,500 USD

Crypto Adoption in Australia: The Australian government’s work to prevent tax evasion is growing. Efforts seem to be moving towards a gradual decline in cash availability, which represents an essential opportunity of growth for cryptos and alternative means of payment. As part of an initiative to prevent undeclared business from being conducted in the country, the Australian government has issued some economic measures to restrict specific conditions that could be harmful to the people. In an official statement entitled “Tackling illegal behavior in the Black Economy” Australia’s Ministry of Revenue…

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Cardano [ADA] Financial System for Developing World

Cardano [ADA], the 7th largest cryptocurrency by market cap, is looking far-beyond becoming just a payment system for the regular cryptocurrency investor. Charles Hoskinson, CEO of Cardano and co-founder of IOHK, had an interview with Rachel McIntosh back in February discussing his long-term vision for Cardano. Financial System of the Developing World – Cardano vs. Stellar [XLM] In his interview, Hoskinson discusses how Bitcoin advertises itself as a payment system and a means of exchange, but anyone that has tried using it for that knows how much it has failed. Back…

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Pineapple Fund | Donates More Than $55 Million In BTC

On May 11, the anonymous philanthropist- “Pine”, curator of the Pineapple Fund, published a touching message in Reddit announcing their withdrawal from the crypto-sphere. Five months ago, a Reddit user by the name of Pineapple Fund, posted an announcement on Reddit asking for recommendations to donate upwards of $86 million worth of BTC too. Many were skeptical and confused. However, when the first proofs of the donations became public, the community acquired a sense of enthusiasm and respect towards the project and its rarity in the world of cryptos. “Hello! I remember staring…

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Most Big Cryptos Dropped this Week – These Two Bucked the Trend

The cryptocurrency markets are set to end the second week of May on a low note. The total market capitalization for all cryptocurrencies fell below $400 billion for the first time since April 26 on Friday, and has dropped 15.97 percent week-on-week. As of writing, the combined market value stands at $385 billion and could see a further decline as indicated by a head-and-shoulders breakdown pattern on the price charts. Looking at notable individual cryptocurrencies, bitcoin (BTC) has depreciated by 12 percent week-on-week and has outperformed its closer rivals. For instance,…

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Blockchain Security Takes Spotlight At NYC Innovation Summit

“At its highest level, blockchain is a trust layer.” In nine words, Kaleido Insights founding partner Jessica Groopman succinctly summarized the gist of CDX Academy’s “Blockchain Brand Innovation Summit” on May 11 during her opening remarks. The summit itself brought together representatives from blockchain startups and incumbent institutions to debate and discuss different use cases for the technology, noting both its advantages and its flaws. According to various panels, the obvious use for blockchain is in data storage, whether in healthcare or in other private, consumer data. The overreach of many…

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‘Utility’ No More? ConsenSys Pitches ‘Consumer Token’ Label

The Brooklyn Project – the token regulation initiative headed by ethereum startup ConsenSys – wants to dispense with the concept of “utility tokens” in favor of what it calls “consumer tokens.” The Project discussed its intention to shift the discourse at the Fluidity Summit on Thursday during a presentation by ConsenSys’ policy lead Pat Berarducci and OpenLaw’s Aaron Wright. According to a document published by the Project, the initiative broadly aims “to provide a basic framework for long-term oriented behavior and to help establish trust between the initiators of consumer token projects, their…

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At Ethereal Summit, A Human Face On A Blockchain Future

“Raise your hand if you don’t know what ‘bitcoin mining’ actually is.” At an impromptu Q&A at Ethereal Summit on May 11, Consensys software engineer Ashoka Finley encouraged the audience to ask embarrassing questions they might have about cryptocurrency and blockchain. “What’s ‘hashing’? Don’t know what a bitcoin is?” Finley went on, encouraging attendees. The questions spoke to the sentiment on day one of the two-day conference hosted by the company, a Brooklyn-based ethereum startup incubator, characterizing the inclusive atmosphere CEO Joseph Lubin appeared to be aiming for with the whimsical conference…

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Congressional Candidate Vows to Gauge Voter Sentiment With Blockchain

The crypto candidate – it has a nice ring to it. And Brian Forde, former head of MIT’s Digital Currency Initiative, is making that his new title. The author of the White House memo on bitcoin during the Obama administration, Forde is looking to take his interest in cryptocurrency and blockchain technology to higher office – California’s 45th District seat in the U.S. House of Representatives, to be exact. Forde said during the Ethereal Summit in Queens, NY, on May 12 that he is running for office on a platform of bridging…

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Ex-JP Morgan Blockchain Lead Hints at Stealth Startup Vision

Everyone is waiting for Amber Baldet‘s big reveal. Since leaving her role as the blockchain lead at JP Morgan last month, Baldet has been tight-lipped on the new company she plans to launch. Still, her presentation at Ethereal Summit Friday, hosted by ethereum startup incubator ConsenSys, hinted at what the new endeavor might entail. There, Baldet criticized the tribalism that can occur between builders of open blockchain networks and institutions, stressing the importance of hybrid technologies that can deploy verifiable, open-source code resistant to single points of failure but that can…

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