Author: Anna Galvez

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Crypto

EOS (EOS) Registers Increasing Gains – EOS Is Going To The Moon

The outstanding development of EOS (EOS), the 5th most important cryptocurrency on the market now, will intensify over the weekend as it outshines the two-digit gains of 24.39% in relation to the USD. On the past week, there is only the TRON (TRX) that was able to move nearer EOS with an increase of about 64%.

EOS/USD exceeded its historical maximum

The EOS/USD rose above its historical maximum of $18.50. The EOS market cap gained 300% during April, increasing from $4 billion on April 1st to about $12 billion on April 27th.

It has been a decisive month for the crypto token, which has the goal of decentralizing the cryptocurrency exchanges and facilitating a more user-friendly cryptocurrency trading.

Correspondingly, new events will be following, which might push up rates in the exact same manner as it’s happening as we speak.

EOS (EOS) price

At the moment of this article, EOS cryptocurrency is trading at $20.30 as it gained 7.20% in the last 24 hours.

A long-term prediction says that EOS coin will reach about $44 by the end of 2018. An even longer forecast predicts that EOS will be trading at $107 by the end of 2023. However, the cryptocurrencies market is a highly volatile one, so these values are just based on the current development of the coin.

Good news surrounds EOS

The good news surrounding EOS (EOS) kicked off on April 6th when EOS.io reported a partnership with Michael Cao and Winnie Liu for regarding a $200 million mutual equity. EOS Global will be focusing on strengthening EOS’s position in Asia through the EOS.io portal.

An additional $100 million collaborative project with FinLab AG followed in the same direction. If you combine robust and trust-building crypto forecasts, overtaking cemented holdings like Bitcoin Cash can’t be a long process.

In conclusion, EOS (ESO) is one of the cryptos which has taken the cryptocurrencies market by storm, recording massive gains in the last period, especially during April when the token pushed up to the 5th place on the market, by market cap.

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Crypto Finance News

Reserve Bank of India To Face Legal Action For Its Attempt To Implement A Total Cryptocurrencies Ban

After India’s efforts to combat cryptocurrencies related operations, the outcome was not as expected. When the country’s central bank, the Reserve Bank of India, has recently attempted to a cryptocurrencies ban, especially targeting the Bitcoin (BTC) operations, the organization is now confronted with legal repercussions for its actions.

India’s central bank to face legal action

India has experienced a difficult connection with Bitcoin (BTC), as well as with other and other cryptocurrencies. Now, it appears that the general atmosphere is not set to change soon. Even though the Reserve Bank of India is seeking to ban cryptocurrencies operations, it looks as if their endeavors may prove meaningless and could cause them even more troubles.

The Reserve Bank of India has promulgated a resolution dissuading the creditors from financing cryptocurrencies exchange and transactions. This is a serious issue for these cryptocurrency exchanges, particularly for the ones who have to handle investments and withdrawals in banknotes.

Apparently, India’s constitution prohibits a total cryptocurrencies ban

The banks were advised to progressively close their relations with cryptocurrency exchanges in the time frame between April and July 2018. However, it is still unknown how numerous are the financial institutions that have implemented this until now.

A petition was submitted to the Delhi Supreme Court at the beginning of this week demanding a verdict from the Reserve Bank of India. In the words of Kali Digital Eco-Systems, India’s national constitution apparently prohibits a complete cryptocurrencies ban, thus filing the appeal.

Although it is not the very first time that someone has declared that the harsh measures taken by the central bank in India are anti-constitutional, it might be well accepted in India. If the RBI fails to officially explain why such an approach is needed and for what reason they intend to accomplish it, it is clear that the decision-making process following this amendment of the circumstances could be contested.

In short, the Reserve Bank of India will face legal action against it after it took the decision to implement a total cryptocurrencies ban, which, apparently, is not a constitutional endeavor in India.

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Crypto Markets

Cryptocurrencies Market Might Have A Free Future In Chile, As The Minister Of Economy Expressed Desire To Work With Blockchain Technology

Chile’s Minister of Economy, Development, And Tourism, Jose Ramon Valente, declared that it is necessary to give the cryptocurrencies market a chance because, in his opinion, the country cannot remain outside blockchain technology.

During the presentation of the new executive vice-president of the Production Development Corporation, Valente stated that cryptocurrencies could be considered as “the economy of the future”. For this reason, he says, the Chilean government does not want to be left out of this innovation.

With this idea in his mind, the minister urged the country’s economic actors not to “artificially hinder” the crypto ecosystem, since its success or failure must be related solely to its functioning.

What we are interested in is basically giving them the opportunity, because they are an important innovation that is happening all over the world […] if we give them a chance and they fail, well, they will fail as many good ideas that are left in the way fail.

Jose Ramon Valente, Minister of Economy, Development, And Tourism of Chile

Cryptocurrencies market in Chile will not face regulations, as the country is still accepting original blockchain technology

However, Valente assured that the Ministry “is not for or against cryptocurrencies market”. The concern is that Chile may be closing in on the technological advances occurring in the rest of the world, namely, the blockchain technology.

These statements come after weeks of tension over the legal dispute between Chilean cryptocurrency exchange houses and banks, as these entities refuse to provide commercial services to the exchange platforms.

A few days ago, the Tribunal for the Defense of Free Competition of Chile ordered 9 banks to reopen the accounts of the cryptocurrencies exchange houses.

The position of the Ministry of Economy could calm down the reprisals against Chile’s Bitcoin (BTC) ecosystem. However, there is still a long way to go to resolve the legal situation of the cryptocurrencies market in Chile, as there is no law for the cryptocurrencies regulation of crypto exchange.

Categories
Crypto

Cryptocurrencies Market: Bitcoin (BTC) Futures Trading Reached Historical Highs

Bitcoin and dollar. BTC market symbol cryptocurrency rising above the united states dollar. Gold metal bitcoin on top of paper currency. Copy space for text and wording.

Bitcoin (BTC) is experiencing a good run in the institutional markets, an event that has been represented in the data of the futures trading platforms led by the Chicago Board Options Exchange and the CME investment group. According to statistics published by the Chicago Board Options Exchange (CBOE), on Wednesday, the BTC trading volume exceeded 3 times the daily average of this platform of agreements for future purchases of Bitcoin (BTC), better known as XBT Bitcoin Futures. Is could benefit the entire cryptocurrencies market.

In this way, the market reached its highest volume in the last five months since the CBOE activated the platform last December 2017, the first Bitcoin futures market in the United States.

Kevin Davitt, CBOE’s lead instructor, noted that the platform’s average daily volume is 6,600 quoted futures contracts per day, an average that was constant throughout the week with 3,881 quotes on Monday, rising to 6,653 on Tuesday and 5,634 quoted B TC contracts on Thursday.

Bitcoin (BTC) is becoming interesting for stock exchange markets, improving the cryptocurrencies market, as a whole

In addition, this Wednesday they reported a total of 19,000 traded Bitcoin futures contracts, trading 18,210 futures for May, some 703 for June, and 87 for July.

Davitt says that Wednesday’s volumes are not related to the expiration of contracts, so the platform will verify whether this is an aberration in market volumes or whether there has been a positive increase in Bitcoin (BTC) institutional market.

No doubt, we will be watching to see if this is a volume aberration or if more and more institutional types are moving into cryptomoney. Overall bullish sentiment continues on XBT Bitcoin Futures.

Kevin Davitt, Lead Instructor, CBOE

On the other hand, the CME Group also presented an increase in operations on Wednesday, doubling its contract volume to 11,000 BTC future operations in one day. A figure that confirmed the interest of institutional investors in cryptocurrencies market.

The international stock markets have begun to consider the possibility of incorporating Bitcoin (BTC) into their marketing platforms, highlighting the projects of the Tokyo Stock Exchange, the Bank of Switzerland, and the Ukrainian Stock Exchange. All these initiatives make cryptocurrencies markets penetrate into the traditional finances and become another common asset for institutional and individual investors.

Categories
Crypto

Bitcoin (BTC) Mining – Only 4 Million BTC Left For Mining

Bitcoin (BTC), the first and the most dominant cryptocurrency in the market, recently reached a round figure, as the 17 millionth Bitcoin was mined at block 520,013. The amount is extremely significant, leaving only 4 million Bitcoin (BTC) to mine on the horizon.

Let’s remember that Bitcoin’s White Paper, authored by Satoshi Nakamoto, included a maximum of 21 million bitcoins. However, despite the apparent closeness to the figure, it is estimated that the last Bitcoin (BTC) will be mined at the height of block 6,929,999, somewhen in the year 2140, according to the nowadays technologies.

The readjustment of the mining difficulty, which occurs every 2016 blocks, and the reductions in the reward are the key to this activity

The programmed reduction of the coins is called halving and occurs every 210,000 mined blocks (approximately every four years), halving the reward.

The first reduction occurred in November 2012 and the split reward was from 50 to 25 BTC. The second, occurring in July 2016, let miners earn only 12.5 BTC per a single mined block.

When reset to 0, miners will only receive rewards for commissions paid for transactions made by users.

Bitcoin (BTC) is a deflationary cryptocurrency

The fact that there are only 21 million BTC is important, as this limit prevents inflation. The amount of coins produced through mining is reduced in a programmed manner, which helps to make this cryptocurrency deflationary.

With increasing difficulty, Bitcoin (BTC) mining is demanding for more and more high-end equipment with increased computing capacity.

In fact, BTC can currently be mined only with ASIC chips specialized in the SHA-256 algorithm. The Chinese company Bitmain is the largest producer of this type of hardware and its most powerful equipment, so far, is the Antminer S9.

It is estimated that the concentration of ASIC miners in a blockchain threatens the decentralization of the blockchain, especially if they belong to the same producer, mainly due to the powerful computing capacity of this equipment.

Other cryptocurrencies, such as Etherum (ETH) or Ripple (XPR), on the other hand, do not have a clear production limit, so they have important inflation rates. However, at least the Ethereum community and its own founder, Vitalik Buterin, have begun to examine this aspect and to assess the advisability of setting a maximum.

In short, Bitcoin (BTC) mining has reached to only 4 million BTC left, thus, the Bitcoin (BTC) is becoming rarer. Thus, Bitcoin (BTC) might go up.

 

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