Latest Market News
South Korea has a vibrant cryptocurrency market, but the country has cracked down on ICOs in September last year, outlawing the practice with a blanket ban. According to reports, the country's government will make a decision in November about the legality of the ICO fundraising model.
As we kick off the fourth quarter of 2018, we still have not seen Bitcoin break the bearish trend that’s been persisting throughout the year. It’s probably fair to say most people who were public with their predictions anticipated BTC to recover sooner, but the world’s top cryptocurrency is yet to reverse the trend of establishing lower highs, and Bitcoin has been trading in an unexciting $6,200 - $6,700 range for the past month.
The controversy surrounding Bitfinex and Tether started heating up again recently after Noble Bank, a Puerto Rico-based bank that was a banking partner of Bitfinex and Tether, was reported to be having financial difficulties. Some members of the community even started speculating that Bitfinex is insolvent, which finally prompted the exchange to release a response to the allegations.
As the amount of funds being raised by projects conducting Initial Coin Offerings (ICOs) continues to decrease, investors are becoming more selective in their choices and opting to participate in only the strongest projects. Here’s our pick of the top 5 ICOs for October.
Binance, one of the most active cryptocurrency exchanges in the world, is often the subject of speculation when it comes to its practices for listing new coins. Now, the exchange says that they will start publicly disclosing their listing fees and use all of the proceeds to fund their Blockchain Charity Foundation.
The market continues to fluctuate in value and provide traders with plenty of opportunities. The overall volatility is also providing more long term holders with suitable entry points, and this may be a good opportunity to pick up some coins that may go on to be strong performers over the final quarter of the year. Here’s 5 coins that are worth keeping an eye on in October.
With the market generally moving sideways, this week’s projects are set to benefit from exchange listings and a mainnet release that should draw attention to each respective project, and possibly stimulate increased trading in their native currencies.
In an appearance at the Finance Disrupted conference, Novogratz shared his current thoughts about what the near future holds for Bitcoin: “I don’t think it breaks $9,000 this year”. As far as the $10,000 psychological milestone is concerned, he says that BTC will not surpass it before the first two quarters of 2019.
Retail-oriented brokerage firm TD Ameritrade and high frequency trading firm Virtu Financial have invested into ErisX, an upcoming exchange that will offer cryptocurrencies and derivative products tied to them.
A report by Recode says that U.S. cryptocurrency broker and exchange operator Coinbase is discussing a potential deal with hedge fund Tiger Global which would result in an investment of up to $500 million. The deal would assume a $8 billion valuation for Coinbase, which is in line with Coinbase’s self-valuation when it made an offer that resulted in the acquisition of Earn.com in April.
