Beaten-down cryptocurrency ether is about to ‘rally strongly,’ says Wall Street’s Tom Lee
Ether has lost 70 percent of its value this year but Wall Street’s biggest crypto bull says it’s “about to rally strongly.” Fundstrat’s Tom Lee says the past four out of four times ether underperformed other cryptocurrencies by two standard deviations, it saw a”major trend reversal.” It was one of the best performing cryptocurrencies last year but ether struggled from a lack of confidence in its technology roadmap, increased competition, and “panic selling.” Read more
Coinbase launches a bundle in a bid to take cryptocurrencies mainstream
It has been a bruising year for the blockchain. A spike in the value of Bitcoin, Ethereum, and other digital assets that began around Thanksgiving 2016 collapsed this year, leaving investors reeling. The MVIS CryptoCompare Digital Assets 10 Index, which tracks the performance of the 10 biggest cryptocurrencies, has declined by as much as 80 percent over the previous year. For comparison, after the dot-com crash in 2000, the NASDAQ Composite Index lost 78 percent of its value. Read more
Why the Crypto Market Will Likely Rally by the End of 2018: Experts Discuss
“The market seems to have recalibrated after the entry of so many new market participants with different beliefs and expectations than those who held Bitcoin prior to 2017. Neither long-term investors nor new speculators have changed their positions much this summer. This suggests that the market will make a major move, for better or worse, only in response to a fundamental change.” Read more
CoinDesk: Crypto Money Market Compound Lets You HODL and Earn Interest
Wouldn’t it be nice to earn interest on your crypto holdings? Especially in a down market, those hodling crypto would love that. And ethereum-based startup Compound is launching a product to do just that. Read more
Will BAKKT Set The Stage For Widespread Cryptocurrency Adoption?
The first question for some of you may be what is BAKKT? Well, it is an exchange project funded by the parent company of the New York Stock Exchange (NYSE) which is the Intercontinental Exchange, otherwise known as ICE. This new platform is seeking to become the first cryptocurrency trading exchange on Wall Street, and while there are other projects out there seeking to do the same thing this one getting all the attention right now. Read more
Austria to Use Ethereum Public Blockchain to Issue $1.35 Bln in Government Bonds
Austria’s government is set to use the Ethereum public blockchain to issue 1.15 billion euro ($1.35 billion) of government bonds in an auction next week. Read more
Swiss Financial Services Company Raises $100 Million to Launch Crypto Bank
A financial services company based in Zug, Switzerland has raised roughly $104 million (100 million CHF) from investors as it looks to create a bank to lets consumers trade fiat for digital currency. Read more
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