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Crypto Markets

Blockchain Technology In China Got The Support Of The Ministry Of Industry And Information Technology

China’s Ministry of Industry and Information Technology expects 2018 to be another important year for investment in the blockchain technology, as in the last five months about 250 investment agreements have been registered in companies dedicated to developing technology based on the blockchain, highlighting the first quarter of this year with 68 investments in the industrial sector. All these thanks to the cryptocurrency trading that survives in China despite the strict regulations.

According to the China Money Network, the ministry reported that 250 agreements have already been registered this year, a figure that represents more than double the number of agreements signed last year, with nearly 100 investment operations carried out throughout 2017, a number that translates the interest in technology into facts.

There are currently 456 companies registered in China that are dedicated exclusively to developing blockchain technology

Of these 456 companies, 295 are focused on developing solutions for different economic sectors, while 86 companies based in China are dedicated to providing services to the financial industry, according to a report from the Chinese ministry.

In addition, the number of projects focused on building blockchain infrastructure reaches 40 startups.

However, the report states that the blockchain sector is still at an early stage, as the investments were not long-term. A fact they expect to happen later, so the bet is to increase investments.

It is important to note that Chinese officials have been studying blockchain technology development in China for years. In fact, two weeks ago they published an index that ranks the main chains of blocks in the ecosystem, based on the applicability, free access, and transparency.

Cryptocurrency trading survives in China despite the strict regulations

These efforts and reports speak about the Chinese government’s interest in taking sides in the development of blockchain technology, even though cryptocurrency trading survives the hostile policies coming from the part of regulatory agents.

It should be noted that since September 4th, 2017, the Initial Coin Offers (ICO) in China have been banned, a regulatory decision that was followed by the announcement of the closure of all national and international cryptocurrency exchange operators.

However, a government spokesman told CCTV, China’s state-owned TV station, that the ICO operations are still “rampant” throughout China despite these bans.

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Crypto Markets

Noah Cross-Border Payment Platform Based On Its Own Noah Coin (NOAH) Invests In Japanese Stock Market

Noah is a cross-border payment platform that started its operations in 2016 with the goal of developing an easy-to-use system for managing payments, mobile payments, discounts and business services using blockchain technology and cryptocurrency. By implementing this technology, the business is able to provide its users with a faster and cheaper method of conducting transactions in comparison with the traditional solutions.

In late April, Noah bought 15% of the shareholdings of Beat Holdings Limited, which was originally known as Xinhua Holdings Limited. The corporation is traded on the Second Section of the Tokyo Stock Exchange and is based in Hong Kong, but operates regionally in Malaysia, Singapore, Indonesia, and Japan.

The Noah Project intends to deepen the deployment of its own new products and technologies and decided to invest more in the Japanese stock market.

Noah cross-border payment platform is backed up by Noah Coin (NOAH)

For its functioning, Noah relies on its own cryptocurrency, the Noah Coin (NOAH). This token will be useful for the execution of various investments linked to residential real estate projects and programs of ecological agriculture, which will use crypto assets to trade and exchange. Furthermore, its clients will be allowed to enjoy the improved ecosystem of Noah, which permits the operation of cryptocurrencies on its platform.

Noah will permit its members to be involved in all the platform’s projects and other unique endeavors, all managed by the Noah Foundation. The program has gathered over $110 million in private fundraising sessions while working to advance its cross-border payment and remittance system through Noah Coin (NOAH).

Besides this, the Noah devs also work on the construction of its proprietary portfolio of cryptocurrencies, specially tailored to be exploited by Noah ecosystem’s members. This is a major component since it will empower consumers to stock, transact, and exchange Noah Coin (NOAH) cryptocurrency.

Noah Coin (NOAH) cryptocurrency is available for purchase at the HitBTC Exchange or via the Changelly crypto exchange platform. At the moment of this article, NOAH is trading at $0.006.

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Crypto Markets

Cryptocurrencies Market Dropped $37 Billion In Market Cap Since Yesterday – Why Is This Happening?

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The main cryptos on the cryptocurrencies market have experienced significant drops today, a trending followed by the rest of the crypto coins on the market.

Bitcoin (BTC) dropped significantly since yesterday and other coins have followed

The Bitcoin (BTC) seemed to be holding steady at between $9,000 and $10,000 in the past weeks, following a major downturn in the first several months of the year.

In the last few days, however, BTC price has declined to $8,000 and today it has experienced a larger decrease, trading at about $7,900 at this moment.

Other coins have followed this trending, therefore, Ethereum (ETH) dropped by 9.34%, Ripple (XRP) sheds about 7,80%, while the EOS (EOS) registered, at the moment of this article, the biggest drop among the top 10 cryptos, losing about 11%.

Cryptocurrencies market dropped about $37 billion in market cap since yesterday

In fact, since yesterday morning when the leading cryptocurrency of the market started to drop fast, as common, this trending was followed immediately by the rest of the crypto coins in the cryptocurrencies market, massively affecting the global cryptocurrencies market capitalization. During the past day, the total market cap of the cryptocurrencies market shed $12 billion, from $381.6 billion to $369.8 billion.

Today, the crypto market dropped even further reaching to $345 billion, thus, losing about $25 billion more, raising the total loss at $37 billion.

These shifts have no obvious reason, as has been the situation in recent weeks. Even though at the start of this year the massive drop in the value of all the cryptocurrencies has been attributed to the emergence of cryptocurrency regulations, there is currently no strong argument that can be considered to explain this decline, over and above the cash flows that are determined by the daily demand and supply.

The cryptocurrencies market often presents these fluctuations from one time to the next as a result of a spontaneous behavior of the investors.

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Crypto Markets News

eToro Trading Platform Is Now On The US Market And Plans On Implementing Its Own Cryptocurrency Wallet And Exchange

eToro, which runs an online social trading platform, reported some exciting breakthroughs at the blockchain conference, the Consensus 2018, held in New York earlier this week. eToro company’s CEO and founder, Yoni Assia, reported that the company is now extending its operations into the United States and that it will launch a cryptocurrency wallet and a cryptocurrency exchange office in by the end of 2018.

“Consumers around the world should have access to the tools they need to participate in cryptocurrencies market, regardless of their expertise,” said Assia.

eToro online trading platform conducted a financing round to raise funds needed to emerge on the US market

eToro finished a $100 million fund-raising round last March that, as eToro’s representatives reported, it was destined to the platform’s extension to the new US market, blockchain R&D, and the digitization of its holdings. The company’s closest sources stated that the financing round included a company valorization of $800 million. The round was conducted by China Minsheng Financial and included Korea Investment Partners, SBI Group, and World Wide Invest participation.

eToro aims to bring more crypto enthusiasts to the platform by adding its own cryptocurrency wallet and cryptocurrency exchange

eToro was created in 2007 by brothers Yoni and Ronen Assia and David (Dudu) Ring. The online trading platform is officially described by its founders as a ” social network for investors” where traders are welcomed to trade commodities, securities and cryptocurrencies and permits traders to talk about their investments, observe what other investors are trading, and adapt or simply copy the more experienced traders’ investments strategies.

According to eToro statistics, the trading platform serves more than 10 million customers from over 140 countries.

According to the future eToro’s plans, the company aims to bring more crypto enthusiasts to the platform as its CEO and co-founder Yoni Assia admitted that eToro will launch its self-operated cryptocurrency wallet and cryptocurrency exchange. As reported, these two new features will be available by the end this year.

In the meantime, the US crypto enthusiasts can trade cryptocurrencies freely as eToro became official in the US.

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Crypto Markets News

The US Securities And Exchange Commission (SEC) Launched A Fake ICO To Warn Investors Regarding Scams

The world of initial issues of cryptographic currencies remains the US. There are many efforts by the authorities to safeguard the interests of investors in this type of micro-patronage for blockchain-based companies and the latest has been to ‘trick’ investors into showing them how easy it is to be swindled into such an initiative. Accordingly, the US Securities and Exchange Commission’s (SEC) Office of Investor Education and Advocacy has set up a fake ICO website to show that fraud is on the agenda in this sector after months of warnings about the risks of investing in these products.

The website, HoweyCoins.com, complies with all the characteristics, promises and the language of the ICOs considered false. When users click the ‘Buy Coins Now’ button, they are automatically redirected to the official SEC website, where investors will find tips and tools to avoid scams.

“We have created this fake website as an educational tool to alert investors to possible fraud involving digital assets such as cryptocurrency and initial coin offers (ICO),” said the SEC spokesman.

According to SEC, about 50% of all ICOs are fake ICO and disappear with all the funds

Some of the suspicious elements pointed out by the SEC are the advance of more than 1% of daily returns or forecasts of a minimum growth rate of between 7% and 15% annualized in profitability.

SEC also warns about ICOs that are backed by celebrities or that meet the SEC’s marketing requirements.

The fake ICO launched by SEC underlines the fact that about 50% of ICOs fail or disappear with the money. These are the shocking numbers of all the initiatives to raise funds through the issuance of digital tokens that were launched in 2017.

Only 54% were moving forward by mid-February 2018.

In the US, the Securities and Exchange Commission (SEC) has taken action against a number of cryptocurrency issues, slowing them down and, more recently, has announced that it will require all cryptocurrency exchange platforms to register and comply with the same rules that are applicable to the stock exchanges.

 

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