Price Analysis 02/12: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, TRX

Bitcoin appears to have bottomed at $6,500 and once confirmed many cryptocurrencies could provide lucrative trading opportunities at a good risk-reward ratio. Bitcoin price continues to trade with an advantage to bears but this does not mean investors or miners have capitulated. About 64% of the total Bitcoin mined to date has been dormant in wallets since 2018. This shows that Bitcoin hodlers do not believe in trading for short-term gains, as they anticipate much higher prices in the future. While this might be a feasible strategy for the whales,…

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Waves DEX Shuts Down and Relaunches as Hybrid Cryptocurrency Exchange

Decentralized exchange Waves DEX shut down to resume operations as a hybrid exchange. Decentralized exchange (DEX) Waves DEX shut down to resume operations as a hybrid exchange, Waves announced in a press release shared with Cointelegraph on Dec. 2. Per the release, the exchange has already ceased operations on the old domain and the process of moving its activities to Waves.Exchange has already started. The company announced: “From this point onwards, the old version of the exchange will be unavailable, and the website will offer only functionality to support migration.…

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OneCoin Website Goes Offline as Net Closes in on $4B Ponzi Scheme

A domain registry says the ongoing legal investigation into OneCoin compelled it to freeze its website, years after critics first accused the scam’s operators of fraud. The website for cryptocurrency Ponzi scheme OneCoin has finally ceased operating, months after United States authorities indicted one of its founders for fraud. As MLM scam monitoring resource BehindMLM.com noted on Dec. 1, OneCoin.eu no longer returned a live result as of Nov. 30.  “Legal investigation” offlines OneCoin.eu Upon investigation, a representative from EurID, the domain’s registry, confirmed to the publication that the website…

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Vertcoin Network Sabotaged by Another 51% Attack

The Vertcoin (VTC) blockchain was 51% attacked on Sunday, December 1, which saw 603 VTC blocks replaced by 553 blocks from the attacker. This is the second time the ASIC resistant Vertcoin chain was ambushed, as the network suffered a 300-block reorg a year ago. Also read: Cryptocurrency Projects Aiming to be ‘ASIC Resistant’ Have Little Success Vertcoin 51% Attacked Again Vertcoin, a fork of the Bitcoin protocol, is an alternative cryptocurrency that’s been around since January 2014. The community and developers behind the project believe VTC is different because…

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Blockchain Firm Figure Technologies Secures $58M, Aims for $103M

San Francisco-based financial technology firm Figure Technologies has secured $58 million in a total offering amount of $103 million. San Francisco-based fintech firm Figure Technologies has secured $58 million in a recent funding round which aims to raise a total of $103 million. According to a filing with the United States Securities and Exchange Commission, Figure — which is the creator of Provenance, a blockchain platform to track supply chains — has raised over $58.8 million in a total equity offering of $103 million.  In February, Figure raised $65 million in…

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CryptoBridge Decentralized Exchange Shuts Down Citing Regulations, Markets

Decentralized cryptocurrency exchange CryptoBridge announced the closure of its platform, citing market conditions and regulatory pressure. The decentralized cryptocurrency exchange (DEX) CryptoBridge announced that it is closing down in a message on its website. In the announcement, the exchange warns users that all of the firm’s services and servers will terminate after Dec. 15. Users will be able to withdraw funds from the exchange until the last day of operation, but deposits will be closed after Dec. 3. The announcement reads: “Please note that user verification is required by EU…

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SoftBank Releases Debit Cards With Built-In Blockchain Wallet

Japanese holding company SoftBank has introduced a debit card featuring a built-in cryptocurrency wallet. Japanese holding company SoftBank has introduced a new debit card featuring a built-in cryptocurrency wallet. According to a press release on Dec. 1, SoftBank developed a debit card featuring a built-in blockchain wallet in collaboration with United States-based wallet card developer Dynamics. The new product is called SBC Wallet Cards and can be used as a traditional debit card or blockchain wallet. Crypto storage and further expansion Consumers can use the integrated blockchain wallet as both…

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Does Bitcoin Need Accounts? One Developer Thinks So, and He Figured Out How

Bitcoin doesn’t use typical “accounts.” Instead, with each payment, the funds are sent to a unique “transaction output.” In such an output, the Bitcoin address can potentially be reused, in which case the address would act a bit like a Bitcoin account. Reusing addresses in this way, however, makes it trivial to link different coins and transactions to the same user, which is horrible for privacy. Bitcoin users are instead encouraged to generate a new address for each receiving payment. While a best practice for privacy, Spanish developer José Femenías…

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Regulatory Roundup: Germany to Let Banks Sell and Store Crypto, Laws Changing in Asia

Some major regulatory developments in the crypto space have transpired this week. Not only has Germany passed a bill allowing banks to sell and store cryptocurrencies, but South Korea and Thailand are also amending their laws to better regulate the crypto industry. We also cover crypto news involving the governments of China, Japan, and the U.S., including the arrest of an Ethereum Foundation member. Also read: Regulatory Roundup: China Rekindles Cleanup, US Widens Oversight, India Defers Decisions German Bill Authorizes Banks to Deal in Crypto A bill has reportedly been…

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South African Central Bank to Reportedly Introduce New Crypto Regulations

The South African Reserve Bank is reportedly going to impose new regulations for the use of digital currencies in a bid to deter crypto users from evading currency controls. The South African Reserve Bank (SARB) — the country’s central bank — is purportedly going to impose new regulations for the use of digital currencies in a bid to deter users from evading currency controls. As local business-focused publication Business Report reported on Dec. 2, SARB’s deputy governor, Kuben Naidoo, said that the new rules will be implemented in the first…

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