The altcoin market has grown significantly throughout 2017. With more than $333 billion in market capitalization for all cryptocurrencies & ICO’s (Excluding Bitcoin) as of December 2017, this is a huge and rapidly maturing segment of the digital currency market. …
Waves is to “play a major role” in the creation of a new blockchain venture fund, ‘the Basics Fund’, according to a company press release.
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The fund will operate along the same lines as a venture capital fund, but blockchain technology will make the process much faster and cheaper than with traditional investment funds.
The President of Venezuela Nicolas Maduro has promised to back the national cryptocurrency Petro with the country’s vast natural resource reserves, including 5 billion barrels of oil.
Japan’s Mitsubishi UFJ Trust and Banking is preparing to launch a service that will protect cryptocurrency holders if the exchanges they use shut down or are hacked, reports Japan-based online publication Nikkei Asian Review.
The banking giant will keep matching records from cryptocurrency exchanges of customers who opt-in for the scheme. In the event the exchange fails or is compromised, Mitsubishi UFJ will compensate its clients for their losses according to the records they maintain.
Nikkei reports that the service will start with Bitcoin trading and could launch as early as April. Crypto exchange users who opt-in to have their funds protected by the Mitsubishi UFJ will be charged a fee for the service.
However, as CEO of Tokyo-based exchange Bitbank Noriyuki Hirosue asserts, the extra fee may be an easy price to pay for those who prefer to trust traditional financial institutions:
Move comes less than two weeks after high-profile digital currency exchange in Seoul was hacked and went bankrupt
Cyber-security pioneer reports his Twitter account was hacked and used to promote crypto-currencies.
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The Digibyte/Bitcoin market skyrocketed after breaking resistance at 0.000006 on May 21 at Poloniex. It took the market 13 days to climb to an all-time high of 0.00002669 on June 3. That’s an astronomical 344.83% increase in value in less than half a month. Unfortunately for traders who bought at this level, sellers took advantage of Digibyte’s rapid ascent to dump their positions and take profits.
The Monero and Ripple price has surged over the past 24 hours, while other cryptocurrencies including bitcoin and Ethereum fell by around 5 percent.