Ethereum Entering “New Bull Phase” as Technical Structure Shapes Up

Ethereum is currently on the cusp of breaking back into its long-established trading range between $230 and $250. A recent influx of selling pressure experienced by the cryptocurrency forced its price to break below the lower boundary of this trading range for an extended period of time, with ETH even testing its crucial support at $220 on a couple of occasions. This price action has represented an underperformance of Bitcoin – as the benchmark cryptocurrency only broke below its established trading range for an incredibly short period of time. One…

Theft Of 100 BTC Isn’t A Crime Because Bitcoin Isn’t Property

On June 30, a Russian criminal court denied a motion to provide restitution to a victim of what would in many jurisdictions be a felony, arguing that Bitcoin (BTC), as a virtual currency, does not enjoy the same property protection as other assets. The case goes back to 2018, when the two men impersonating Federal Security Service (FSB) agents and their accomplices kidnapped the victim and forced him into giving them 5 million rubles or $90,000 in cash and 99.7 BTC — worth about $900,000 at the time. The kidnappers…

Kazakh Gov Plans to Double Its Investment in Digital Currency Mining

Kazakhstan officials revealed the nation’s digital currency development plan to experts from Russia and China at “2020 Astana Online Financial Day”. According to the China Ministry of Commerce on July 1, Kazakhstan plans to double its digital currency mining investment by the end of this year, and continues to develop its central bank digital currency. According to the report, Kazakhstan’s digital currency mining project attracted 82.6 million Tenge, which is about 20 million USD. The scale of this investment will increase by 80 million Tenge in 2020. Blockchain and CBDC…

OKCoin Exec Says PayPal Will Boost Crypto Adoption, If Rumors True

Rumors recently surfaced of mainstream payment giant PayPal adding crypto as an option on its platform. Although he had no additional information on the legitimacy of the rumors, OKCoin COO Jason Lau said digital assets on PayPal would further crypto adoption.  “When a traditional player like PayPal, who has 325 million users, enters the crypto space, it is sure to have a positive impact in highlighting cryptocurrencies to a big new audience,” Lau told Cointelegraph via email correspondence on June 24.  PayPal rumors and job listings surface Rumors hit the web…

Bitcoin Has Only Had One Other Rounded Top, And a Major Correction Followed

If the current price action is a top formation, then it doesn’t match the sharp spikes Bitcoin and blow-off tops the cryptocurrency is known for. Only one other time has a comparable rounded top formation appeared on BTCUSD price charts over the last ten years. And when it happened, a major correction followed. Should the first-ever cryptocurrency fail to pump soon and prove this trading range isn’t a top, then another collapse could be next. When Will The Confusing, Sideways Trading Range End and Crypto Break Out? The current Bitcoin…

SBI Invests $30M in B2C2, Largest Proclaimed Market Maker in XRP

SBI Financial Services, a subsidiary of Japanese financial giant SBI Holdings, has bought a $30 million minority stake in British crypto liquidity startup, B2C2. The investment marks the beginning of a strategic partnership between the firms as B2C2 is set to become SBI’s main liquidity provider. As announced on July 1, the collaboration is aimed to expand SBI’s crypto offering to millions of customers. B2C2 is intended to benefit from SBI’s distribution network as the London-based startup launches an electronic prime brokerage. A spokesperson at B2C2 told Cointelegraph that the…

XRP Tanks Compared To Crypto Counterparts Bitcoin And Ethereum, But Why?

XRP spent the last several years as the worst performer in the cryptocurrency market. And even though the altcoin has been beaten and battered, it has recently sunk even lower compared to Bitcoin and Ethereum. Why exactly is the altcoin commonly referred to as Ripple, so severely crippled and unable to gain positive momentum? XRP Underperformance Against Bitcoin and Ethereum Reaches New Extremes For two years running, XRP has been among the worst performers in the cryptocurrency space, alongside XLM. The previously third-ranked cryptocurrency reached an all-time high of over…

Crypto Mobile Apps Are on the Rise in India Following Supreme Court Decision

India’s crypto developers have begun to release new mobile apps, following a positive ruling by the nation’s Supreme Court with regard to blockchain technology. The Court’s decision reversed laws that previously prohibited banks from providing services to crypto traders and businesses. A growing interest in the Indian crypto market B21, a digital asset investment company, recently launched their own Blockchain investment portfolio app in light of these changes. They claimed that the Supreme Court of India’s announcement “has led to renewed interest in digital asset investing and a spike in…

Mac Users Beware — New Ransomware Targets Apple Computers

A new ransomware is targeting macOS users who download installers for popular apps via torrent files. Known as EvilQuest, the attack was first spotted by Dinesh Devadoss, a K7 Lab malware researcher. Findings show that EvilQuest has been quite active since the start of June 2020. Malware lab firms, like Malwarebytes, have found the ransomware attached to pirated macOS software distributed mainly through torrent sites and warez forums. Same BTC address used EvilQuest asks victims to pay a ransom through the same static Bitcoin (BTC) address in every documented attack.…