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Modern Day Gold? Bitcoin Cracks $8,000, Up 120% Year-To-Date

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Bitcoin prices continued to march higher on Tuesday, trading through $8,000 for the first time in more than nine months.

The price of a single bitcoin BTCUSD, +3.83%  hit an intraday day high around $8,300 and in most recent trade the cryptocurrency was trading at $8,058.90, up 2.5%. The best-known coin has now gained around 120% year-to-date.

Read: Why is bitcoin surging? — Here are 4 possible explanations

shutterstock_751337695

shutterstock_751337695

The surge in the price of digital assets comes as the popular Consensus conference gets underway in New York.

“Definitely think [the Consensus conference] is a major factor (not only) for recent parabolic bitcoin move, especially considering higher overall quality of attendees at the largest crypto conference,” Tom Lee, head of Fundstrat Global Advisors, tweeted late Monday.

The three-day event that attracts the biggest names in the cryptocurrency and blockchain sphere, where some industry heavyweights use the conference to promote and announce new products and partnerships.

bitcoinbullcryptoclarified-700x400

bitcoinbullcryptoclarified-700x400

On Monday, Tyler Winklevoss and Cameron Winklevoss announced they had entered into a partnership with Flexa, a global payments network, to allow users to spend digital currency, including the Gemini stablecoin and a number of retail outlets including Amazon’s AMZN, +0.91%  Whole Foods and NortstromJWN, -4.50%

Read: Whole Foods, Nordstrom and other retailers now accepting cryptocurrency in stores

But others aren’t so sure the move in bitcoin is sustainable, noting the parabolic move in the cryptocurrency as nothing more than confirmation it’s not ready for widespread adoption.

“There’s been no shortage of explanations for the recent spike, some more ludicrous than others and none that are nearly significant enough to match the size of the leap we’ve seen,” said Craig Erlam, senior market analyst at Oanda.

“The only thing that’s clear is that cryptos may be maturing in many ways but price action hasn’t changed. Until it does, I struggle to see institutional investors wanting to get too involved. These big gain days look great and people are always attracted to the prospect of big gains but last year showed us what the flip side of that looks like and it’s ugly.”

Bitcoin has logged gains in 12 of the prior 15 trading sessions and is on track to book its third consecutive winning week.

Read: Bitcoin is surging. Thank the trade war.

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Why Tron (TRX) Price Won’t Remain Low for Long

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TRON (TRX) has been one of the most popular cryptocurrencies in recent years. The project has achieved a tremendous amount of success in less than a year, and while the first birthday of its MainNet is approaching, TRON certainly continues to impress to this day.

With that said, its price is still noticeably low, and many would agree that the project is heavily undervalued. The low price even allowed other projects to push it out of the top 10 list, with TRX currently being the 11th largest cryptocurrency by market cap. However, it is likely that TRON will not remain undervalued forever, and that its price might soon see a surge that its entire community has been waiting for, for a long time now.

Why TRX might see growth soon

As many undoubtedly know, TRON is a lot more than just a cryptocurrency. It has developed a massive ecosystem, which offers a development platform for coins, smart contracts, and dApps. It also acquired BitTorrent last year for its Project Atlas, which will allow torrent users to earn crypto through participation in content sharing.

For this purpose, it also launched BitTorrent (BTT) token, which saw its launch on January 28, 2019 on Binance Launchpad. This was dubbed the most successful ICO in history at the time, although several coins launched since then have broken its record.

In addition, TRON also has its own DEX, and the number of its dApps is growing fast. Due to the fact that transactions within the TRON network are much faster and cheaper than on Ethereum, a lot of dApp users, as well as developers, have migrated to TRON. Because of this, the coin is now considered to be one of the potential ‘Ethereum killers,’ and it likely has a lot more potential to pull it off than any other project out there.

While Ethereum’s developers don’t appear to be too concerned about this, claiming that ETH’s focus was, is, and always will be on smart contracts — TRON itself approaches its 1000th smart contract at a rapid pace. It already managed to break several records regarding transaction volumes, beating Ethereum in this area as well.

In other words, TRON is popular, useful, and apparently, loved by the community. It also made some strong partners and gained influential supporters along the way. The largest crypto exchange by market cap, Binance, for example, announced its support for TRX and BTT earlier this year. Not only that but one of the most popular browsers around the world, Opera, recently teamed up with TRON and added TRX to its list of supported coins.

Of course, TRON had some issues along the way, such as the recent decision of its co-founder and CTO to leave and even threaten to sue TRON CEO, Justin Sun. However, there is a lot more good, positive achievements than negatives, and the project has mostly managed to avoid major scandals.

Even so, its massive total supply of 99 billion, as well as its circulating supply of 66 billion prevent the coin from achieving great prices. But, that is fine, as one of its goals is to make microtransactions quick and easy. However, that does not mean that TRX price will remain where it is forever. Even now, TRON is seeing gains, rising by 5.06% against the USD. Further, it is also performing well against BTC, rising by 3.70% in the last 24 hours.

While its price recently dropped below a major level at $0.030, it appears to be well on its way back, and many are investing in the coin now, while it is at a ‘discount.’ Additionally, Justin Sun recently predicted that TRON will climb back to the top 10 list within a month and that BTT will surpass around 20 other currencies during the same period. While it is unknown if this is just hype-building or if Sun knows something that others do not, but TRON network’s coins do have a way of achieving much in a very short period.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by Sebastian Voortman from Pexels

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Bernie Fan Sniffs Out Bitcoin Cash Stash, Hilariously Exposes Wallet Key

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By CCN: A Bernie Sanders voter found a stash of hidden Bitcoin Cash (BCH) – and almost gave it away immediately.

No, they didn’t turn up at the local donation center only to find that it was closed. Rather, as apparent newbies to the cryptocurrency game, they did the one thing you should never do – they selfied the paper wallet’s QR code and uploaded it to Twitter.

Bitcoin Cash Treasure Hunt: Coming to a Town Near You

bitcoin cash

Three of the crypto wallets were found, while one is still hidden. If you’re anywhere near San Jacinto College South in Houston today, keep your eyes open. | Source: Shutterstock

A generous Redditor appeared on the Bitcoin Cash subreddit on Monday night claiming to have hidden four stashes of BCH around the Houston/Galveston area.

Each of the paper wallets contained mnemonic phrase words and a QR code linked to 0.025 BCH – roughly $10. Described in the post as a:

“…very tiny blue box, with paper inside that has a mnemonic phrase that gives you access to BCH. You can see them on https://findbitcoin.cash.

The public addresses are as follows:

qp70n286usxucg0k46d5yuxm6cg92lun3ucy94yxjl

qpd2lnlhgw5p964w6ruqeuzq8cvcg24ldvgarq5elq

qqksrnrgyh5090lnmzflre442l8mqsdnqsjf9tpu89

qr7aj2903ade5sr0s7rm5euttdl8z220ay82s9nemj…”

The clues related to local landmarks around the Houston and Galveston area, for example:

“Houston, we have a problem.” This private key resides near two jets at the entrance of a popular tourist attraction. General location hint: Nassau Bay.”

Three of the crypto wallets were found, while one is still hidden. If you’re anywhere near San Jacinto College South in Houston today, keep your eyes open.

As the treasure hunt got under way, more charitable Bitcoin Cash holders threw in a few bucks. By the end of the night, the wallets contained anywhere between $19 and $27.

One of the first people to stumble on the bounty was apparently completely naive to the ways of cryptocurrency. That was evidenced when they immediately exposed their QR code to the Twitterverse.

Never Put a Bernie Sanders Voter in Charge of the Money Pot

Twitter user and Bernie Sanders fan @Mondiablue, otherwise known as Mondia #Bernie2020, found one of the wallets near the Pleasure Pier in Galveston. Luckily, when they photographed their QR code and uploaded it to Twitter, it was blurry enough that no one could steal it. But it was close.

Helped by some light directions by the person who started the treasure hunt, @Mondiablue managed to download a Bitcoin Cash wallet app and transfer the funds. They seemed impressed by the crypto treasure hunt, tweeting to @pokkst:

But not before some trouble threatened to flare up. When @pokkst accidentally got one of the locations wrong, @Mondiablue wasn’t too happy about the extra work they were forced to put in.

All’s Well That Ends Well

All jokes aside: In the end, three lucky people found some free BCH and perhaps got introduced to cryptocurrency in an interesting way. One thing to note for the crypto cynics is how easily the users got set up with wallets. They were ready to start spending their cryptocurrency in minutes – surely a healthy sign for the prospect of future adoption.

When moving the BCH, @Mondiablue spent just $0.00079488 on fees, or 1.01 satoshi. The original poster intends to plant another batch of wallets tonight. Keep an eye on FindBitcoin.Cash for a chance to find them.

Disclaimer: The views expressed in the article are solely those of the author and do not represent those of, nor should they be attributed to, CCN.

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‘Fraudulent Propoganda’: Co-Founder of China’s Blockchain Uber Slams EOS

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By CCN: Weixing Chen, the founder and CEO of Kuaidi Dache, a Chinese taxi-hailing application, has expressed his concerns about crypto assets like EOS in a statement published on Weibo that prioritize scalability.

A rough translation of his statement read:

EOS is a good example. I have always said that there is no problem in trying [new] technology. The problem is the fraudulent propaganda such as ‘Million TPS” and ‘Next Generation Operating System’.

CnLedger, a trusted crypto news source based in China, confirmed to CCN that the Weibo account is, in fact, Chen’s and that he is well known in China’s venture capital space as an anti-EOS figure.

Why Chen May Be Anti-EOS

EOS, currently valued at $5.8 billion, is the largest initial coin offering (ICO) in the history of the crypto market. It raised $4 billion in May 2018 without a live product.

The mainnet of the EOS blockchain protocol launched in June 2018 with 21 “block producers,” individuals that are responsible for producing blocks on the EOS blockchain network that contain transaction and smart contract data.

Since then, EOS has demonstrated an increase in popularity from blockchain-based decentralized application (dApp) users. According to DappRadar, all top three dApps are currently based on the EOS blockchain network.

However, since its inception, experts have criticized the level of decentralization of the blockchain network, which focuses on scalability and offering a large transaction capacity to appeal to dApp developers.

Smart contracts pioneer Nick Szabo, for instance, said:

In EOS a few complete strangers can freeze what users thought was their money. Under the EOS protocol you must trust a ‘constitutional’ organization comprised of people you will likely never get to know. The EOS ‘constitution’ is socially unscalable and a security hole.

The criticism of EOS by Szabo came after a controversial section of an article explaining the governance system of the blockchain network was released, which stated that an account could be auctioned off after years of inactivity.

“A Member is automatically released from all revocable obligations under this Constitution 3 years after the last transaction signed by that Member is incorporated into the blockchain. After 3 years of inactivity an account may be put up for auction and the proceeds distributed to all Members according to the system contract provisions then in effect for such redistribution,” read Article XV of EOS.

As reportedly said by EOS CTO Dan Larimer in October 2018, EOS is able to achieve such a high transaction capacity because its sole focus is not decentralization. He said:

Decentralization isn’t what we’re after. What we’re after is anti-censorship and robustness against being shut down.

Whether the scalability-first approach of EOS is right or wrong is to be determined by the market. So far, EOS is seemingly attracting developers and dApp users by providing a network with flexibility and large transaction capacity.

But, investors like Chen does not seem to approve of blockchain networks that do not focus on decentralization, differing from the principles established by bitcoin, which still remains as the dominant cryptocurrency 10 years after its launch.

There’s No Right Answer

So far, the dApp market is simply not large enough to determine which of the approach used by Ethereum, EOS, Cardano, TRON, and other competing smart contract protocols is the right approach.

DApps are averaging less than 10,000 users in a 24-hour span and is not comparable to centralized applications and platforms.

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SOLVE Token Could Be A Huge Long-Term Winner

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A large number of articles were written about an altcoin apocalypse.  With such a lot of tokens coming into the marketplace, it’s inevitable that now not they all will live to tell the tale.  When seeking to analyze select the most efficient initiatives, the next standards will have to be used:

  • Very energetic neighborhood
  • Strong attainable for mass adoption
  • Valuable partnerships
  • Experienced management

If a mission ratings smartly in no less than 3 of the above standards, it’s a winner.  When it ratings smartly in all 4, it has the prospective to be a blockbuster.  That attainable blockbuster is Solve.Care.

Background

Solve.Care has advanced a progressive platform that can considerably support care results by way of decreasing healthcare administrative prices.  The platform may even move a ways towards getting rid of numerous the issues usually observed inside of healthcare management comparable to duplication, waste, abuse, and fraud.  I firmly be expecting Solve.Care to generate value financial savings by way of facilitating peer-to-peer transactions that grant authority to stakeholders whilst empowering payers referring to value regulate and oversight.

SOLVE token finished its token sale closing 12 months in May.  The corporate offered 350,000,000 tokens and nonetheless has 650,000,000 in its treasury.  The nice information is that the token has been not too long ago indexed on each Bittrex and KuCoin, two of the biggest and maximum faithful exchanges on the planet.  Given the hot incidents, particularly the Cryptopia hack, being on a faithful change is of paramount significance.

Active Community

I received’t spend a substantial amount of time specializing in this as that is almost definitely the least essential of the 4 standards discussed previous however Solve.Care is doing moderately smartly in this entrance.  The corporate’s Reddit web page has over 1,300 subscribers whilst the Twitter deal with is much more spectacular with over 11,000 fans.

In addition to social media, the corporate seems to be producing a robust following in mainstream media.  In 2018, Solve.Care had over 5,000 media mentions, together with articles in FinTech Times, Forbes, and a video interview with CNBC Arabia.

With such a lot of initiatives within the crypto area, spreading consciousness is crucial to good fortune.  Solve.Care is for sure doing what’s wanted in this specific entrance.

Strong Potential for Mass Adoption

With the complexity of lately’s healthcare gadget, it’s crucial for companies to get a hold of new leading edge tactics to cut back the tension and burden confronted by way of lots of the marketplace’s individuals.  Solve.Care is a win for everybody concerned.

The platform places people in regulate in their healthcare in a very simple and environment friendly approach.  Individuals can simply set appointments, proportion information, value store, generate reductions, arrange prescriptions, perceive particular care knowledge, make bills, and maximize advantages.  This is particularly true with the release of Care.Wallet for Family.

Care.Wallet for Family is a healthcare utility that permits the person to connect with a number of Care Administration Networks (CAN) to regulate their healthcare advantages and arrange their well being prerequisites.  New releases of Care.Wallet will routinely obtain Care.Cards for duties comparable to managing prescriptions, verifying advantages, making appointments, managing illness prerequisites and simplifying the executive and care coordination procedure.

In addition to people and households, Solve.Care is more likely to acquire mass adoption amongst physicians as smartly.  The platform strives to cut back the executive burden, ship higher high quality of care and supply for extra head to head time between physician and affected person.  Because of Solve.Care, docs will have the ability to display their availability, double test sufferers’ scientific protection (together with deductibles), have higher get right of entry to to extremely correct information, write prescriptions and coordinate with consultants and labs.  If it’s something that docs completely hate, it’s losing time on forms and coping with insurance coverage corporations.  Solve.Care totally removes the will for that.

The corporate took the adoption chance one step ahead with the release of Care.Wallet for Physician.  This answer presentations supplier high quality information and distributes monetary rewards.  Arizona Care Network will use those rewards to align suppliers with the venture of making improvements to populating well being at a decrease overall value of care.  Care.Wallet for Physician is the primary answer in historical past using blockchain generation and virtual foreign money (i.e. value-based bills) within the U.S. healthcare business.  The value-based bills happen with the healthcare virtual foreign money referred to as Care.Coin.

With many cryptocurrency initiatives failing to are living as much as expectancies, it’s great to in the end see one move above and past what many idea conceivable.

Valuable Partnership with Arizona Care Network

Starting a brand new industry, particularly one making an attempt to disrupt an business as robust because the U.S. healthcare gadget, calls for strategic partnerships.  In February 2018, Solve.Care inked an enormous partnership with one of the most greatest responsible care organizations within the United States.  This is a large, strategic partnership for Solve.Care as a result of ACN has a community of greater than 5,500 docs masking greater than 250,000 shoppers.  Between this partnership, Care.Wallet for Family and Care.Wallet for Physician, Solve.Care has endured to exhibit its talent to broaden blockchain-based healthcare answers.  It is readily turning into a significant participant within the U.S. healthcare marketplace.

Leadership

An organization’s management is an often-overlooked house when comparing cryptocurrency initiatives but it surely’s person who is very important.  Without the steering and strategic imaginative and prescient from succesful executives, an organization usally flounders about and not using a true identification.  Fortunately, Solve.Care is being run by way of any individual with fantastic revel in within the box, Pradeep Goel.

Pradeep has 26 years of revel in running in quite a few spaces together with generation, human services and products, healthcare, and finance.  He has been ready to hone his management and managerial talents by way of preserving more than a few titles comparable to Chief Executive Officer, Chief Operations Officer, Chief Information Officer, and Chief Technology Officer.  Pradeep up to now constructed four healthcare IT corporations. Because of that wealth of information and management obtained over the years, Pradeep will have the ability to information Solve.Care via the entire demanding situations that start-up companies face.

Final Thoughts

Cryptocurrency has been extraordinarily difficult during the last 12 months.  Without a transparent course of the place issues are headed, token house owners will wish to be extra cautious than ever.  Instead of chasing a handy guide a rough dollar, token house owners wish to sparsely take a look at a mission’s underlying industry, objectives, and management.  After taking a look at Solve.Care, I firmly imagine in its attainable to be a long-term winner!

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Disclaimer: This article will have to now not be taken as, and isn’t meant to offer, funding recommendation. Global Coin Report and/or its associates, staff, writers, and subcontractors are cryptocurrency traders and every now and then would possibly or won’t have holdings in one of the most cash or tokens they quilt. Please habits your individual thorough analysis prior to making an investment in any cryptocurrency and skim our complete disclaimer.

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This Coinbase-Backed Cryptocurrency Surged 75% in a Single Day

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By CCN: The cryptocurrency market has been awash in bearish sentiment on Monday, with Bitcoin failing to maintain the $8,000 mark and most of the other top 20 coins moving in a sideways or downward trend.

Nonetheless, one lesser-known crypto token isn’t intimidated by the market gloom, and it took advantage of one concrete announcement and one wild rumor to surge more than 75% in a single day.

Ethereum Scaling Project Rallies More Than 75%

matic cryptocurrency price chart

The Matic cryptocurrency exploded by as much as 76% on Monday. | Source: CoinMarketCap

Matic Network, a blockchain project aimed at scaling Ethereum, rose as much as 76% to $0.32 on the day. Shortly before 16:00 ET, the cryptocurrency traded at $0.31 with a circulating market cap of $66.8 million.

Matic’s daily trading volume of over $250 million exceeded the daily volume of larger projects like Cardano, Monero, and IOTA.

Since the start of May, the coin has gained over 610%.

What is Matic Anyway?

The key focus of Matic Network’s blockchain solution is scalability – the startup provides an off/side-chain scaling tool for existing networks like Ethereum to ensure a better user experience in the context of dApps.

matic ethereum scaling project

The cryptocurrency aims to help the Ethereum network scale. | Source: Matic

The ecosystem will incorporate a proprietary digital wallet, payment APIs and SDKs, ID solutions, and other products that will enable developers to build and migrate dApps developed on base platforms such as Ethereum. The network will use a modified version of Plasma with Proof-of-Stake (PoS)-oriented side chains.

What Triggered the Crypto Token’s Rally?

The project is very young, having been launched on Binance less than a month ago. Binance accounts for over 98% of the token’s trading volume. Matic is one of several Binance Launchpad coins that has shown impressive returns.

Earlier today, Matic revealed that it had joined Binance Info’s transparency initiative, which suggests investors would be regularly updated about the progress and state of the project.

Now the community hopes that Matic will get listed on Coinbase, especially after the team announced last month that it had secured funding from Coinbase Ventures.

The partnership will see Matic integrate another Coinbase-backed cryptocurrency – USD Coin – on its sidechains. On the other side, Coinbase wallet users will be able to use the Matic network to transfer and trade digital assets.

While investors believe the next logical step is a Coinbase exchange listing, some members of Matic’s Telegram community are afraid that the project won’t benefit from such an outcome as – to quote one user – Coinbase “killed 0x.”

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