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Cryptocurrency Updates: Bakkt delay, Tron event, Banco Santander fraud and more.

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Cryptocurrency Updates: Bakkt, Bitcoin futures exchange has been delayed till January next year. Kobe Bryant will be speaking at the TRON's upcoming event.

Bakkt launch delayed

Bakkt, Bitcoin futures exchange every cryptocurrency enthusiast has been waiting for has been delayed from its earlier launching in December this year to January next year. But the reason for the delay is quite interesting.
The official statement from the exchange said:
Given the volume of interest in Bakkt in the work required to get all of the pieces in place, the company has settled on January 24, 2019, start date in order to ensure that our participants are ready to trade on day 1.

Does this mean that the big whales are coming with big wallets? If yes, we can expect a huge surge in cryptocurrency prices soon.

 

Kobe Bryant will be talking at the TRON’s cryptocurrency event

Kobe Bryant, the famous basketball player of the Lakers Club who is also seen an ‘investment guru’ by many people as he turned lucky by turning $6 million into $100 million when Coca-Cola bought a company Kobe had heavily invested in will be speaking at the TRON’s upcoming cryptocurrency event.

Will Koby will able to create the same magic with TRON? Let’s wait and see.

 

Peru’s Central Bank says Cryptocurrencies are risky

Peru’s central bank calls cryptocurrencies as risky investments due to high volatility. The bank also mentioned the illicit uses of cryptocurrencies such as money laundering, drugs, and terrorism. While Peru is not a country with much crypto activity, the central bank is taking notice.

 

Spain Finance Ministry to inspect cryptocurrency holders for tax fraud

The Financial Ministry of Spain has order inspection and monitoring more than 15000 taxpayers to prevent tax fraud in the country as a part of its tax control plan. Checking to see if the cryptocurrency holders are laundering money and if they are accurately declaring their income.

 

Banco Santander being investigated for Fraud

Banco Santander, the giant Spanish bank has been drawn into Germany’s massive fraud investigation with German investigators stating that they suspect the bank of having planned and executed trades that facilitated severe tax evasion from 2007 to 2011 with billions of Euros at stake.

#TRON

TRON planning 4 major upgrades by Q2 this year: TRX to the moon?

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The development team of Tron are working on releasing four upgrades to improve the functionality of the TRON blockchain network.

The development team of Tron or TRX which is now one of the biggest blockchain platforms to build and deploy Dapps are working on releasing four upgrades to improve the functionality of the TRON blockchain network.

 

Misha Ledgerman, the co-founder of the iamdecentralized platform that is being built for supporting the development of blockchain technology, recently tweeted about the major upgrades that TRON is going to release in the Quarter 2 of this year. Ledgerman is known to be a great supporter of the TRON blockchain. According to the tweet, the four major developments will be:

– BitTorrent Speed
– Institutional friendly multi-signature and account management
– USDT launch on TRON blockchain
– Private transactions

 


 

BitTorrent Speed and Multi Signature Wallets:

After TRON acquired BitTorrent for over $140 million in 2018, the total users of the TRON blockchain have increased massively as BitTorrent already had more than 100 million users. For improving the overall functions of the BitTorrent application and the BTT token (BitTorrent Token), the development team of Tron and going to launch the ‘BitTorrent Speed’ which will be an application for compensating the users who will provide bandwidth and seeding to the network in BitTorrent Tokens.

 

USDT on Tron and Privacy Feature:

TRON has recently partnered with Tether Ltd, the company behind the most used stablecoin USDT. In accordance with the partnership, a new USDT Token shall be created on the TRON blockchain which will provide the ability to exchange and make use of information on the applications build on the TRON blockchain.

 

Apart from this, for the privacy feature, TRON developers are going to implement the zk-SNARKS technology which is currently used by ZCash. This would provide a privacy feature to the users for conducting private transactions. Justin Sun had announced this feature during the podcast with Bad Crypto.

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#Bitcoin

Cryptocurrency Price Analysis: Great Week for the top 10

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The current week has proved to be quite amazing for the cryptocurrency market as all major coins are holding green. The total cryptocurrency market rose by around $1.5 billion yesterday night with the price of bitcoin reaching $4100.

 

Bitcoin:

BTCUSD Price Chart

BTC/USD Weekly Price Chart

Bitcoin broke the $4000 resistance level on 17th March and has been over this range since then. Bitcoin has turned the previous resistance into strong support now and has moved upwards slowly currently trading around $4120 (according to Bitfinex chart) with around 1% increase in the last 24 hours. If bitcoin is able to maintain its position above $4100 range for long, it might soon move ahead towards the major long term resistances such as $4500 and $4600.

 

Altcoins:

ETHUSD Weekly Chart

ETH/USD Weekly Chart

Ethereum also saw a nice bullish momentum this week after reaching the highest point of $143. Currently, Ethereum is trading nicely around $140 and is experiencing a few dips while trying to move upwards.

Unlike other top 10 coins, Ripple market is experiencing volatility from the last week but the momentum is still quite bullish.

LTCUSD Weekly Chart

LTCUSD Weekly Chart

Litecoin has been following trends and is steadily trading around $60 from the start of the week. Litecoin has increased more than 1.67% in the last 24 hours which makes it the best performing crypto of the day (in comparison with the top 10 cryptos according to market capitalization). LTC is currently trading around $61 (according to Bitfinex chart).

 

The overall cryptocurrency market is in a bullish momentum with sings of further gains. After a long bearish trend, cryptocurrency analysts are now believing that the bull market might be coming soon.

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Adoption

The Amazon of Switzerland: Digitec Galaxus now accepts Bitcoin.

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The biggest online retailer of Switzerland, Digitec Galaxus has now started to accept bitcoin along with other cryptos as a method of payment.

The biggest online retailer of Switzerland, Digitec Galaxus which is also known as the ‘Amazon of Switzerland’ has now started to accept bitcoin along with other cryptos as a method of payment.

 

Digitec Galaxus accepting cryptocurrency payments:

According to Digitec Galaxus, they were willing to integrate cryptocurrency payments on their platform for a long time. The users will now be able to make their payments using Bitcoin, Bitcoin Cash, Bitcoin SV, Ethereum, Ripple, Binance Coin, Litecoin, Tron, OmiseGo and NEO.

 

According to the Co-Founder Digitec Galaxus, Oliver Herren, Cryptocurrencies such as bitcoin are captivating and could very soon be an important method of payment for all ecommerce stores and they are happy to support it. He also said that people will pay using cryptocurrencies because the ones who own them are willing to use them somewhere, some are not being able to convert them into fiat currency because of banking regulations and others would just like to try latest things.

 

Digitec Galaxus also admitted that by integrating cryptocurrency payments, the company is going to showcase itself as a progressive brand.

 

Partnership with Coinify:

Digitec Galaxus has partnered with a third-party cryptocurrency payment processing company, Coinify. All the payments accepted through cryptocurrencies shall be instantly converted into fiat currency i.e. Swiss Franc. This would ensure that the cryptocurrency market volatility does not create an issue for the company.

Cryptocurrency payment method will be available only for Switzerland based users for now, although, the company plans to integrate the same soon for the users in Germany as well.

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