What Crypto Bear Market? Japanese Banking Giant SBI Will Soon Mine Bitcoin

SBI Holdings, a major financial and banking giant in Japan, has formally announced the launch of SBI Mining Chip Co., Ltd., officially entering the bitcoin mining industry. In recent months, the most dominant forces in the global bitcoin mining industry in the likes of Bitmain, Cannan, and Japanese internet conglomerate GMO have struggled to adjust to market conditions. As the bitcoin bear market extended to a 15-month correction, despite the gradual increase in hash power, the demand for bitcoin mining due to the general decline in profitability of mining noticeably…

Bain-Backed Crypto Exchange Seed CX Is Expanding to Asia

Chicago-based cryptocurrency exchange Seed CX, which Bain Capital backed last year, is expanding to Asia. The institution-focused exchange announced Thursday that it has teamed up with Singapore-based trading infrastructure technology provider Hydra X for the effort. The partnership will allow Seed CX to integrate its platform with Hydra X’s trading platform Sigma, which is currently in beta. Once the integration is complete, Seed CX users will be able to view prices, trade and monitor their portfolios on the Sigma platform, as well as have access to a fiat-cryptocurrency gateway, according…

Bear Market Will Stop Crypto Exchanges Faking Volume, Says Researcher

A report by the Blockchain Transparency Institute (BTI) claims that many exchanges are using bots to fake trading volume. Their research shows that wash trading affects over 80% of the top 25 bitcoin pairings. Furthermore, allegations of this being a deliberate business practice present significant concerns for the industry. Which is already struggling to gain mainstream acceptance. Wash Trading Wash trading is where a trader sells and then immediately buys a financial instrument. This practice manipulates legitimate makers and takers into believing a trading pair is more active than it…

Crypto Market Rebound Facing Hurdles: Bitcoin Cash, EOS, BNB, TRX Price Analysis

The total crypto market cap failed near the $136.0B resistance and declined sharply. EOS price broke the $3.70 support and tested the $3.62 support area. Binance Coin (BNB) is down more than 4% and settled below the $15.00 support level. Bitcoin cash price is correcting lower and it may test the $150 support zone. Tron (TRX) price is stable and still holding the key $0.0220 support level. The crypto market could turned red and facing a lot of hurdles, with bearish moves in bitcoin (BTC) and Ethereum (ETH). Binance coin…

Bitmain Plans to Set Up 200,000 Crypto Mining Machines in China

Cryptocurrency mining giant Bitmain is reportedly planning to set up 200,000 units of mining equipment in China to benefit from low-cost hydroelectric power in the country, crypto media outlet CoinDesk reported on March 21. A source from China familiar with the matter reportedly told CoinDesk that Bitmain will install 200,000 units of their own mining machines to take advantage of cheap hydroelectric power costs during the summer following the excessive rains in southwestern China. The mining equipment is estimated at around $80 million to $100 million. The crypto mining giant…

Why Square’s Bitcoin Hiring Spree is Crucial for Crypto Adoption

Jack Dorsey, the CEO of Square, the $32.7 billion mobile payment giant based in the U.S., revealed that Square would fund three to four developers and a designer to work on the open-source protocol of Bitcoin and the crypto ecosystem. Independent of the core business strategies of Square, the team of developers and a designer will work to contribute to the cryptocurrency ecosystem in a variety of ways, potentially by contributing to the open-source codebase of the Bitcoin network. Join CCN for $9.99 per month and get an ad-free version…

Bitcoin Nears $4,100 as Tokens Gain 20%; Industry Execs Say Crypto Bottom’s In

The valuation of the crypto market rose by $1.5 billion overnight as the bitcoin price closed on $4,100 and a handful of tokens recorded gains in the range of 10 percent to 25 percent. Based on the global average price of bitcoin as shown on Coinmarketcap.com, the bitcoin price has remained above the $4,000 resistance level for more than seven days. 7-Day Bitcoin Price Chart (Source: Coinmarketcap.com) Join CCN for $9.99 per month and get an ad-free version of CCN including discounts for future events and services. Support our journalists…

Crypto Market Rally Inevitable: ONT Surges, Bitcoin Cash, XLM, EOS, TRX Analysis

The total crypto market cap is about to break the $136.0B resistance level for the next bullish wave. Bitcoin cash price is back above the $160 level and it may continue to rise towards $165. EOS price is slowly moving higher towards the key $3.80 resistance area. Stellar (XLM) price is currently consolidating above $0.1110 and it could move towards $0.1200. Tron (TRX) could recover and test the $0.0230 resistance level. The crypto market seems to be positioned for an upside break, with solid gains in ONT and XTZ. Bitcoin…

Bitcoin Price Could Crash by 50% in 2019: Veteran Crypto Traders

Throughout the past week, the bitcoin price has increased from $3,901 to $4,048, by nearly 4 percent against the U.S. dollar. The relatively strong short-term performance of bitcoin led alternative cryptocurrencies to engage in large upside price movements, allowing the valuation of the crypto market to rise by about $7 billion. Join CCN for $9.99 per month and get an ad-free version of CCN including discounts for future events and services. Support our journalists today. Click here to sign up. The crypto market cap has added around $7 billion in…

Crypto Market Remains Vulnerable: Litecoin (LTC), BCH, TRX, ADA Price Analysis

The total crypto market cap is struggling to climb higher and it could break the $133.0B support. Litecoin (LTC) price moved below the $60 support and it could extend the downside correction. Bitcoin cash price declined below the $160 support and it may retest the $155 or $150 support. Tron (TRX) price failed to stay above $0.0230 and it is moving down towards $0.0220. Cardano (ADA) price is up more than 3% and it is trading nicely above the $0.0500 support area. The crypto market cap is currently at a…