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Data shows the large cap cryptos have been outperforming the others this month so far, thanks to Ethereum’s latest rally.
As per the latest weekly report from Arcane Research, the large cap index has observed 28% gains in the month of June so far.
“Cap” here refers to the USD capitalization. Based on the market cap of the various coins in the crypto market, each one can be put into three main “indexes.”
The use of digital assets to make payments is growing, according to a recently published study. It reveals that cryptocurrency’s role as a viable means of payment has been expanding and this year’s market rebound has increased the turnover of crypto payments. The report suggests that debit cards linked to digital currency wallets will remain an important tool until wider adoption of direct cryptocurrency payments.
Also read: BCH Can Be the Global Coin for Daily Spending, Says Italian Crypto Executive
As reported by BeInCrypto; The social media giant Facebook made waves last week with the announcement of its in-house cryptocurrency called Libra. Intended as an internal payment system for users of the social media giant, Libra is likely the first of the major corporate cryptocurrencies. However, while Facebook (FB) may be the first to issue a […]
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Economists have been predicting a worldwide recession which could pose a risk to financial stability throughout various countries. Fear of an economic downturn has caused the central bank of Australia to cut interests rates on Tuesday and both the U.S. Federal Reserve and the Reserve Bank of India are in the midst of discussing slashing interest rates as well. What is more frightening is the fact that smaller financial institutions are also offering negative interest rates to consumers in a predatory fashion.
Also read: Bitcoin Cash Markets and Network Gather Strong Momentum in Q1
Purchasing cryptocurrencies often involves using the services of a digital asset exchange. Such trading platforms typically differ in terms of features, listed coins and supported fiat currencies. Exchangify.io is a website that can help you find the best option in your region.
Also read: Cryptocurrencyalerting.com Will Notify You of Price Movements
Exchangify is an online platform that ranks dozens of crypto exchanges by daily volume, area of operations, support for fiat currencies, available payment methods, and applicable fees. You can expand the set of criteria by adding more columns to its table such as “Decentralized” or find out if an exchange has been hacked before.
On May 9, 2019, the Financial Crimes Enforcement Network (FinCEN), issued new “interpretive guidance” about how its regulations apply to businesses that conduct money transmissions in virtual currencies.
In summary, a money services business (MSB) needs to register with FinCEN, (which is free and done through Form 107); get an AML compliance policy that specifies what KYC information will be collected (and aims to catch and prevent money laundering and terrorism); designate a compliance officer to monitor transactions and file suspicious activity reports for activity that looks suspicious and file currency transaction reports for transfers over $ 10,000; and adhere to record-keeping requirements. Crypto-to-crypto or crypto-to-fiat conversion is treated in the same way.
WeChat, the #1 messaging app in China, is also widely used for cryptocurrency transactions. Recently, WeChat Payment has revised the “WeChat Agreement for Payment Service,” which involves the control and regulation of illegal transactions, including cryptocurrency transactions. The revised agreement will be put into effect on May 31, 2019.
San Francisco-based cryptocurrency giant Coinbase reportedly now supports more than 30 cryptocurrencies on its digital asset custody platform, Coinbase Custody. Now more than 30 crypto assets available on Coinbase Custody 🙌https://t.co/oiKktOmsKA — Brian Armstrong (@brian_armstrong) May 6, 2019 According to a recent announcement, Coinbase has been using a combination of client demand and its own internal […]
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The Russian Federation, which is yet to regulate digital assets, is now planning to allow four of its regions to test innovations that are not covered by its current legislation. A bill drafted by the Economy ministry envisages the establishment of regulatory sandboxes there. The special economic zones will allow companies, entrepreneurs and authorities to experiment with cryptocurrencies without breaking the federal law.
Also read: Russia Adopts Law to Isolate Runet From the Internet
The government of India is said to be renewing its efforts to completely outlaw public cryptocurrencies, according to The Economic Times.
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Accepting cryptocurrency payments in your store doesn’t require specialist hardware or complex integration – Paytomat is proof. The crypto payment gateway enables merchants to accept 18 cryptocurrencies including BCH using their existing equipment. To date, hundreds of brick and mortar stores across four continents have added crypto support using Paytomat.
Also read: Crypto-Based Transfers Can Cut Remittance Costs in Africa by 90%
Having access to detailed and real-time market data is a precondition for becoming a successful cryptocurrency trader. Crypto Rocket is a mobile app that aggregates useful information about digital coins including price movements and the latest developments in the space.
Also read: BCH Merchant App Allows Businesses to Accept Crypto Payments in Store
Crypto Rocket is a free application developed for Android devices that tracks the prices of over 2,000 cryptocurrencies. It pulls market data from multiple digital asset exchanges including major platforms such as Kraken, Coinbase, and Bitfinex, as well as Localbitcoins, which is the leading peer-to-peer exchange.
There are 2,121 digital currencies tracked on market websites with a net valuation of around $ 140 billion. Statistics for the end of Q1 2019 show mineable digital assets to be the most valuable cryptocurrencies on the market today, with the top eight mineable coins representing 68 percent of the entire cryptoconomy.
Also read: Bitcoin and the Agora: Every Transaction Outside the Nexus of State Control Is a Victory
Roughly $ 4 billion in investor capital is currently locked in proof-of-stake (PoS) networks, according to the latest report by crypto market research firm Diar. In the report, Diar reveals that over 70 projects currently rely on some type of PoS format, with an average of 40% of the total token supply across the projects delegated […]
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An Indian crypto exchange has launched a program that allows its users to earn interest on their cryptocurrencies held at the exchange. Initially, users can lend BTC, USDT, BNB, XRP, and ETH. The CEO of the exchange has shared details about this new offering with news.Bitcoin.com.
Also read: Crypto Enthusiasts Unite in 4 Indian Cities to Voice Regulatory Suggestions
Coindcx announced Thursday that its crypto lending program called Dcxlend has come out of the beta testing phase and is now fully launched. Five cryptocurrencies are supported: BTC, USDT, ETH, XRP, and BNB.
Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), posted a tweet earlier this week teasing the expansion of its Cryptocurrency Data Feed service to include thousands of cryptocurrencies and hundreds of data sources. What: ICE Cryptocurrency Data FeedWhy: Greater transparencyWho: 1,000’s of cryptocurrencies, 100’s of venuesHow: 1 source of data […]
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On March 12, the cryptocurrency and blockchain legislative advocacy group Coincenter published correspondence between the Securities and Exchange Commission (SEC) chairman Jay Clayton and representative Ted Budd. The letter explains that Clayton and the SEC’s staff analysis confirms that Ethereum and similar cryptocurrencies are not subject to securities laws.
Also read: Cointext Adds the Ability to Pay Bitpay Invoices Using SMS
Revolut, a London-based digital banking startup with a retail-focused cryptocurrency exchange and trading app, has released a new feature called “Auto-Exchange,” which allows users to instantly convert funds into 24 different fiat currencies and 5 cryptocurrencies with pre-selected rates. Trying to get the best exchange rate ahead of your holiday or protect yourself from market volatility? […]
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Several Indian crypto exchanges have shared data with news.Bitcoin.com on the most traded cryptocurrencies on their platforms so far this year. Crypto enthusiasts in India have been buying and selling a wide range of cryptocurrencies despite the central bank’s roadblock which stops crypto exchanges from accessing banking services.
Also read: Indian Government Confirms Cryptocurrency Regulation in Final Stages
The most-traded cryptocurrency year-to-date on Indian exchanges Wazirx, Coindcx, and Instashift is BTC. On Bitbns exchange, it is the third most-traded cryptocurrency this year. Wazirx facilitated $ 6.5 million worth of BTC trades between Jan. 1 and March 7. Coindcx swapped 792 BTC for its users in the same time period, while Instashift’s BTC trades accounted for 77.76% of its total buy volume and 67.58% of its total sell volume.
On March 4, cryptocurrency-backed USD lending platform Blockfi announced the launch of a new savings program called the Blockfi Interest Account (BIA). Having started as a private beta service, BIAs are now available to the public who can store bitcoin core (BTC) and ethereum (ETH) and receive 6 percent annual interest, paid monthly in cryptocurrency.
Also read: An In-Depth Look at Ethereum’s Maker and Dai Stablecoin
