Transaction Numbers Is What Matters Most

Mainstream media has picked up on the notion that cryptocurrencies are on the way out.

They have drawn this conclusion from the fact that the whole cryptocurrency is on a decline in successive months.

Experts and newcomers alike have their own theory why prices keep on declining.

However some experts like Brian Kelly are saying that we are missing the bigger picture.

A year ago the price of Bitcoin was $2500 therefore the price we have now is significantly high.

He also added that regulations are actually good for everyone in the space as it is ensuring that it is more robust and secure that is better for all participants.

While most news outlets are focusing on the exchange price, they have overlook one important aspect on why we have cryptocurrency in the first place.

It is to have a peer-to-peer digital currency and payments systems free from centralized authorities, and the best indicator is to see if people are actually using it by looking at the number of transaction being made in cryptocurrencies.

The number of transactions per day are increasing meaning more and more people are using cryptocurrencies which is a better sign the basing the success of crypto on speculative prices.

Another Bitcoin Mining Firm To Go Public In Hong Kong Exchange

Another China-based bitcoin mining hardware manufacturer is going public.

The company, Ebang Communications has filed its application on the Hong Kong Stocks Exchange (HKEX) last Monday.

It is said to be the third-largest producer of application specific integrated circuit (ASIC) chips in bitcoin mining.

The company hopes to raise as much as $1billion through the said listing.

The company claims to have an 11 percent maket share of the bitcoin ASIC market and hope to increase it when it releases its own 7nm chips.

It also claims to have experience a 30 times revenue growth over the past three years reaching 954.4 Million RMB in 2017 from a 29.2 Million in 2015.

It follows Canaan, the second-largest bitcoin mining manufacturer, as the second bitcoin mining company that sought public listing in Hong Kong.

However many analyst predicts that the first two listings will be eclipsed by the largest Asic manufacturer Bitmain which has recently concluded a pre-IPO funding round that valued the firm at $12 billion.

Bitmain is said to have 80 percent of all ASIC market.

Crypto Is A Rebellious Teenager Maturing: Ajit Tripathi Of ConsenSys

Ajit Tripathi Of ConsenSys gave a smart analogy about cryptocurrencies and its response to regulations.

He liken it to a maturing rebellious kid where regulators are like parents that behaves in ways that are attuned to their culture.

He states that a lot of regulation coming from different governments are well-intentioned but problem persist because of misunderstanding, as the crypto community has not really engaged with the policymakers.

Bitcoin came out like a revolution, rebelling against centralized entities.

But the rebellious teenager has grown up a bit.

It is time for it to engage other processes of society like regulation and policy.

It should work collaboratively help regulators to understand what is going on and as the same time educate ourselves why rules are the way they are thus we can find ground where the technology can develop and create a fairer world.

30% More Institutional Investors For Circle Despite Bear Market In May

The U.S.-based payment app Circle has just revealed that institutional investors joining Circle Trade Crypto Trading platform has increased 30% despite the very bearish market condition.

This only means that investors are not shying away from getting their feet wet in the new asset class.

Goldman Sachs-backed Circle saw a massive uptick in hedge funds and other mainstream investors joining in its digital currency trading platform last May.

Aside from the increase of new institutional investors, it also did make 15x more transaction volume per day from a year ago despite the fact that the price of Bitcoin fell about 20% in May.

Circle also reveals its plan to obtain federal banking license in the U.S. to be able to bring more services to customers as well as brokerage and trading venue registration with U.S. SEC to be able to offer buying and selling security tokens in their platform.

Bitcoin ETF and Institutional Buyers Are Seen As Catalyst To Cryptos

The sudden plunge of crypto prices have generated much talk on what should be done to drive the bitcoin price up again.

There are two catalysts that is being eyed by most observers and the first one is Bitcoin Exchange-Traded Fund (ETF).

It has been speculated that a Bitcoin ETF in the world of Crypto will propel the prices of bitcoin to $35,000 only if Securities and Exchange Commision will allow Bitcoin ETFs.

Another catalyst is the institutional buyers where they were seen slowly entering the space during the launch of Bitcoin futures.

It has been widely expected that the next BTC rally will likely be the result of institutional investors taking up positions in the space and would probably occur before the end of this year.

Headlines for the world of Cryptocurrencies - June 26, 2018 Silicon Valley Whales Buy Millions Worth Of Diamond Using Bitcoin / John Mcafee: Bitcoin Keeps Growing / German TV Channel Set To Disrupt 500 Billion Euro Media Industry / Japan Blockchain Conference 2018 / Japan To Stop Cryptocurrency Criminal Activities
Headlines for the world of Cryptocurrencies - June 25, 2018 Incent Loyalty’s “Bitcoin Pizza” Moment / Bitmain Mining Hashrate At Almost 51 Percent / South Korea Investing Multimillion In Blockchain Technology Development / Blockchain University By Tron Opens Enrollment This Fall 2018
Headlines for the world of Cryptocurrencies - June 24, 2018 Ernst & Young Releases Blockchain Content Rights Platform Together With Microsoft / Cryptocurrency In Tourism Is Growing / Cryptocurrency Mining In Ukraine Need No License / All Systems Go For TRON’s Independence Day, Despite Market Plummet