21 Aug, 2018 0 Commentaries 201 Views

Weekly Top10 Cryptocurrency News 34

#10 Stablecoin Tether Issues New Batch of USDT Tokens Worth $50 Million

Tether has issued new tokens worth $50 million on August 11, according to OmniExplorer.
Tether now has the highest daily trading volumes after Bitcoin, seeing $4.2 billion in trades a day.
However, this stablecoin remains controversial, because even though its tokens are claimed to be backed one-to-one by USD, the company has yet to submit to a public audit.

#9 NVIDIA Announces Financial Results for Q2 2019

The U.S.-based graphics processing unit manufacturer Nvidia reported that crypto mining sales were significantly lower than expected in Q2, adding that it does not expect to make significant blockchain-related sales for the rest of the year.
Colette Kress, the chief financial officer at Nvidia, said: “Our revenue outlook had anticipated cryptocurrency-specific products declining to approximately $100 million, while actual crypto-specific product revenue was $18 million.”

#8 NASDAQ Collaborating with Gemini to List Coins?

Three weeks ago Bloomberg reported on a secret meeting that took place in Chicago between Nasdaq and many other companies in the cryptocurrency space.
According to two sources close to the Winklevoss twins crypto empire, Gemini and Nasdaq are moving closer and closer to a “joint venture” that will allow both the Nasdaq and Gemini to list tokens and provide liquidity on a global scale.
We’d like to remind you that Gemini is the 42nd most important virtual currency exchange in the market. It has six different trading pairs and has a trading volume of $26 million dollars.

#7 Crypto Trading Revenue May Double this year

Sanford C. Bernstein & Co. published a report titled “Crypto Trading – the Next Big Thing is Here?” In it they say that revenue generated from crypto exchanges could more than double to as much as $4 billion this year even amid the collapse in the prices of digital assets.
The buying and selling of digital currencies including Bitcoin generated $1.8 billion of fees at the largest crypto exchanges last year, or about 8 percent of the revenue seen on traditional exchanges.

#6 Coinbase Launches New Wallet

Coinbase has re-launched its wallet offering to try and become the “gateway to the decentralized internet.” Unfortunately, it supports only Ethereum and all ERC20 tokens for now, but support for Btcoin, Bitcoin Cash, and Litecoin is on its way.
Until rebranding the company has been developing the Toshi app that was launched around a year ago, and has become one of the preferred choices for a lot of crypto users.

#5 Bitwise Launches Three New Cryptocurrency Market Index Funds

Bitwise Index Services has announced the launch of three new indexes covering the mid-cap, small-cap, and total-market segments of the crypto market, as well as the renaming of its HOLD 10 Index as the 10 Large Cap Crypto Index.
The Bitwise Crypto Indexes are available throughout the established financial trading ecosystem, including via Bloomberg, Reuters, Factset, and other data aggregators.

#4 Bitmain is Hodling Nearly $600 Million in Bitcoin Cash

Bitmain has sold much of its Bitcoin and purchased large amounts of Bitcoin Cash, according to a leaked pre-IPO document. It reveals that, as of March 31, the China-based firm was holding more than 1 million bitcoin cash (BCH) on its balance sheet, worth nearly $600 million at the present exchange rate. Perhaps more significantly, that stake represents more than 5 percent of the 17.3 million BCH currently in circulation
However, if the current bear market does not turn a corner before the company files to go public, its BCH stake could begin to weigh heavily on its profit figures and possibly turn off some investors.

#3 Ripple Rolling out Convergence Software?

At the moment Ripple only has 3 products – xCurrent (in production) and 2 more on the way – xVia and xRapid.
But recently, the XRP community has been abuzz with news that the Ripple company plans on integrating all of Ripple’s software products into one convenient solution known as Convergence. According to Jim Chauncey-Kelly, the Director of Talent Acquisition at Ripple, his team is building software called Convergence that syncs together all of their 3 major products into one seamless format. However, this statement was then deleted and followed by a tweet by Kelly posted on August 17. In it he states that the three products will be on a “convergence” release soon and that there isn’t a software actually called “convergence”.

#2 Leading Nations in Crypto Trading

A report produced by the financial services provider Worldcore confirms that jurisdictions offering favorable business climate through crypto-friendly legislation account for a large portion of the exchange-based crypto trade. Malta, Belize and the Seychelles are topping the chart with over 2.6 Billion USD of daily trading volume.

However, using data from the popular P2P exchange Localbitcoins, the study pronounced another leader – Russia with a weekly trading volume of 2,000 BTC, followed by the USA (with 1,000 BTC), China (600 BTC) and Nigeria (also 600 BTC).

#1 Major Crypto Exchange KuCoin Hong Kong Offices are Empty

On August 10, Jackson Wong, a cryptocurrency researcher and journalist based in Hong Kong, released an investigative report on the headquarters of KuCoin, which are supposed to be based in Wan Chai Hong Kong. He’d personally visited the Kiu Fu Commercial Building in Wan Chai only to be told that Smart Team left the building years ago.

On August 12, KuCoin released an official announcement on its SubReddit and revealed that its headquarters in Hong Kong are in fact empty, and the actual headquarters of the company are in Singapore. However, it still remains unclear why the company had to use the address of a building which it never was based in and the reasons behind the anonymity of its offices in Singapore.

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