Daily Cryptocurrencies & Blockchain Update, October 7th, 11:30:00 CET
📬 Daily Cryptocurrencies & Blockchain Update, October 7th, 11:30:00 CET
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Bitcoin
🔼 Web portal Bitcoin.org announced it was “denouncing” the Segwit2x hard fork and companies involved with the project. The site plans to publish a banner on every page of the website explaining the “risks of using services” that are associated with the November 2MB fork and development team.https://goo.gl/baKzzr
🔼 Public documents reveal that a second US financial services firm has withdrawn an effort to create exchange-traded futures (ETFs) tied to bitcoin.In a letter dated October 5, an executive for Connecticut-based REX ETFs requested to pull back an amendment related to two previously proposed ETFs: the REX Bitcoin Strategy Fund and the REX Short Bitcoin Strategy ETF. The withdrawal is a notable one, given that the company said in August that it would seek to launch multiple investment products around cryptocurrencies. The letter, penned by REX president J. Garrett Stevens, indicates that officials at the US Securities and Exchange Commission (SEC) don't want to weigh in on such products in the absence of available derivatives contracts in which to invest.https://goo.gl/3icnwL
📶 Technical Analysis: https://goo.gl/ZWB6SE
Ethereum
🔼According to Nvidia’s second quarter revenue, the website reports, the company gained a $150 million boost thanks to the demand cryptocurrency miners created. This insatiable demand led many to believe that AMD and Nvidia should be concerned in case the market took a bearish turn. However, according to Barclays analyst Blayne Curtis, the companies should be safe for now. Although Ethereum’s price dramatically increased this year, it’s clear it won’t keep on being economically viable to the cryptocurrency’s miners to keep on buying Nvidia and AMD GPUs, although in the past their units sold out. According to Blayne Curtis, Ethereum’s Byzantium upgrade should improve mining profitability by 20-30%, but once proof-of-stake is ready, things could be different. https://goo.gl/4eL89Y
🔼Within three months since the hacking incident of the CoinDash initial coin offering (ICO) in June that led to the loss of $7 million in funds, hackers hijacked the ICO of Etherparty’s native token FUEL, redirecting investor funds to an alternative address by hacking the website of Etherparty. https://goo.gl/EEw5Cq
📶 Technical Analysis: https://goo.gl/8n39zx
*NEO
🔼 It appeared the NEO price was well positioned to set a new all-time high a few days ago, but things eventually retraced to a much lower level. Given the slightly negative and sideways pressure on the Bitcoin market, that isn’t entirely surprising whatsoever. As of right now, the NEO price has climbed back to around US$33.88, although setting that new all-time high will not be all that easy. https://goo.gl/4KmReL
📶 Technical Analysis: https://goo.gl/QDZiHD
Upcoming ICOs
🆕 Qvolta starts in 2 days https://qvolta.com
🆕 Hydrominer starts in 11 days https://www.hydrominer.org
🆕 Red Pulse starts in 1 days http://coin.red-pulse.com
Blockchain News
🔼 Blockchain is taking flight. Airline companies are beginning to see the value of this revolutionary digital ledger, and Air France KLM wants to be at the forefront of the disruption by employing blockchain to track its maintenance and repair systems.https://goo.gl/Ma4o1x
🔼 Austria-based lab10 collective, a blockchain technology incubator partners with YourStory to bring blockchain technology to the common man through a game. https://goo.gl/TNhdvp
🚩 Avoid Minecoins.info
🚩 Avoid Doublebtc.co
🚩 Avoid Supbtc.xyz
Final Summary:
As the week ends we sit just under $150 BN. China looks like they are ready to resume trading in the coming months and positivity is returning despite hacks. BTC is above $4300, ETH has finally broken $300, XRP/NEO is still waiting for catalyst and XLM (Stellar Lumens ) are heading towards the moon.
Key Events/Conferences Today:
Enjoy your Day
Nextblock Team