China’s New Central Bank Head Is Pro-Market, Could It Impact Cryptocurrency Industry?

Yi Gang, an American-trained economist, has been elected by the Chinese government to take over the People’s Bank of China (PBoC), the country’s central bank, as its head. The election of a pro-market economist could have a positive impact on the cryptocurrency market.

Pro-market, favors freedom

Both Chinese President Xi Jinping and PBoC’s new leader Yi Gang are pro-market and pro-market reform. Prior to his election, Yi has consistently emphasized the importance of market liberalization, and has invited economists along with experienced financial experts who could support his long-term plan to increase the flexibility of the Chinese market.

Already, within weeks since the election of Yi, the Chinese government has, for the first time, allowed foreign companies to enter the country’s payment sector and compete against local giants like e-commerce conglomerate Alibaba’s AliPay and the country’s largest technology corporation Tencent’s Tencent Pay.

For context – Tencent’s gaming successes

For context, China’s Tencent, which has made a series of successful acquisitions over the past few years including Riot Games, the game development company behind one of the most popular online games – League of Legends (LOL), surpassed the market valuation of Facebook in November 2017. Tencent became the first Asian company to break the $500 bln mark, and outdistanced Facebook prior to its Cambridge Analytica Scandal, which led Facebook to decline by nearly $70 bln drop from $517 bln to $445 bln.

In 2016, it was revealed that more viewers watched LOL, the game developed by Riot Games under Tencent, than the NBA finals. LOL’s professional esports league finals were hosted in the Beijing National Stadium, also known as Bird’s Nest, which has a capacity of 91,000 people. The NBA finals were watched by 31 mln people worldwide, while the LOL finals were watched by 36 mln people internationally.

The success of Tencent and its dominance over the global esports industry as well as social media, messaging, and payment markets is important to acknowledge because for the first time in its history, the Chinese government has given the company competition in the finance sector.

Payment market for foreign companies

On March 21, Bloomberg reported that the Chinese government has officially opened the gates of its $27 trln payments market to foreign companies, and has allowed companies to apply for licenses. Iris Pang, a Hong Kong-based economist at ING Groep NV, told Bloomberg:

“The domestic market is quite saturated with very strong domestic players, and it is relatively hard for foreign companies to get a piece of the pie. But there is a chance for them to compete in the cross-border payment market.”

In other markets like social media, search engines, and messaging, the Chinese government has banned conglomerates like Facebook and Google from operating within the country for various reasons, but mainly to ensure that domestic platforms such as QQ and YouKu can take control over the entire market with 100 percent of the market share.

The move of the Chinese government and the PBoC to allow foreign companies into its payment sector was unprecedented, and such a positive movement towards market liberalization could inevitably lead to speculations around the cryptocurrency market and its stance towards it.

Xi’s narrative

In Sept. 2017, almost immediately after the PBoC and the Chinese government imposed a strict ban on cryptocurrency trading, analyst Jon Creasy explained that the PBoC has taken such path to support the political narrative of President Xi. Creasy said that the government will likely open its cryptocurrency market once President Xi establishes his government again:

“Historically speaking, President Xi Jinping has been one of the largest advocates of free markets China has seen in quite some time, and I expect this trend to continue. But for now, Mr. Xi must appeal to the people who keep him in power: the Communist Party. In my opinion, banning Bitcoin exchanges is nothing short of temporary glad-handing. Supposing this is true, what should we be doing about it?”

So far, the Chinese government and President Xi have demonstrated willingness to continue their plans to liberalize the Chinese market, starting with its payment sector that is largely dominated by domestic companies.

The next target market for the Chinese government could be the cryptocurrency market, given that the Chinese government has not led additional initiatives to shut down cryptocurrency activities and projects within China. Blockchain projects from China such as VeChain and NEO are still able to continue their developments, because the Chinese government had banned the trading of cryptocurrencies, but not storing or holding them.

Chinese cryptocurrencies

VeChain, NEO, and Qtum are all multi-billion dollar projects established and developed by teams located in China. In fact, the three cryptocurrencies are some of the largest cryptocurrencies in the global market, with NEO being the 9th biggest in the market with a $3.7 bln valuation.VeChain

Cryptweeter, a well-known cryptocurrency researcher, stated that state-owned media outlets including Yicai have offered extensive coverage of VeChain, a Blockchain project and cryptocurrency based in China:

“They have started to be picked up by mainstream media in China, most notably Yicai, who have been seen tweeting and retweeting a lot about VeChain recently. Yicai are state-owned and are one of the leading financial news and investment outlets in the country.”

Given the government’s support towards native Blockchain projects and initiatives, and the election of pro-market economists like the new PBoC head Yi, it could be likely that some pro-Blockchain legislation will be released in the mid to long-term.

Although the Chinese government has banned cryptocurrency trading, it is highly unlikely that this will continue to be the case, especially if PBoC head Yi continues his long-term initiative to liberalize the Chinese markets and its leading industries, like the payments and finance sectors.

Bitcoin 7% Increase as Cryptocurrency Market Rebounds From Yesterday’s Losses

After dipping below $6,500, the price of bitcoin has increased 7 percent to $7,100, as the rest of the cryptocurrency market recovered over the past 24 hours.

Since March 30, the valuation of the cryptocurrency market rose from $250 billion to $268 billion, by around 8 percent.

Correlated Movements

On March 29, Cornell professor Emin Gun Sirer stated that a mature market should have assets that are performing independently from each other.

“Indeed, a mature market should be decentralized, with independent coin prices decoupled from each other, each moving in concert with the future prospects of the specific coin,” said Sirer.

For many weeks throughout February and March, the entire cryptocurrency market has demonstrated correlated movements, as the vast majority of both major and minor cryptocurrencies recorded similar gain and loss patterns with extreme volatility.

Today for instance, as the bitcoin price increased by 6 percent, Ethereum, Ripple and Litecoin all increased by the same 6 percent. With the exception of a handful of cryptocurrencies, which have been likely affected by pump and dumps, most of the cryptocurrencies in the global market have all moved in a similar pattern since the major correction occurred in February.

As such, given the extreme volatility in the market and its correlated price movements, it is evident that the market has not stabilized from its recent correction, and thus may need more time to recover from its losses.

The market demonstrated a necessary rebound from the $250 billion mark, and major cryptocurrencies like bitcoin have been able to sustain their resistance levels, even though volumes still remain relatively low across all cryptocurrency exchanges.

History

Bitcoin’s latest correction has been brutal, and it led to millions of dollars in losses for many individuals and institutional investors holding the cryptocurrency on behalf of organizations. But, it is important to acknowledge that identical patterns have occurred in the past, throughout 2013 to 2018.

2018’s bitcoin correction is the third worst correction the cryptocurrency has ever experienced, after two 80 percent corrections it suffered in 2013 and 2014. Both corrections took nearly 12 months for bitcoin to recover from.

The market moves up and down, and volatility is stronger in markets like the cryptocurrency market that have lower liquidity and volume than other regulated markets. The cryptocurrency market was not largely affected by the prohibition of cryptocurrency ads or other news relating to regulation, contrary to the narrative the media has tried to portray. Rather, it was the market simply acknowledging that the price of most cryptocurrencies have increased to a point in which they were difficult to justify based on tangibles and sustainable models.

 

Tron for example, was worth $16 billion, and neared the valuation of SpaceX. While it is entirely possible for Tron to achieve that market cap again in the future, Tron has only released its testnet this week.

 

The valuation of most cryptocurrencies were not proportional to the impact they had on the respective industries they were targeting, and the cryptocurrency market experienced a correction because investors could no longer support the prices of them.

Telegram ICO Hits $1.7 Billion After 2nd Funding Round

The Telegram ICO has now raised a total of at least $1.7 billion, public documents show.

According to offering documents filed with the US Securities and Exchange Commission (SEC) and dated March 29, the second round of Telegram’s much-hyped initial coin offering (ICO) raised $850 million in a sale that began on March 14.

The filing reports that 94 investors contributed to the funding round, placing the average individual investment at approximately $9 million. The previous funding round, which occurred in January and also raised $850 million, attracted 81 investors for an average individual investment of $10.5 million.

Both rounds of the Telegram ICO have been reported to the SEC under Rule 506(c) of Securities Act Regulation D, which allows unregistered securities issuers to raise an unlimited amount of money as long as they restrict contributions to accredited (i.e. wealthy) investors, file a simple report with the SEC, and require investors to submit to a predefined vesting period before selling their stakes.

The $1.7 billion Telegram has currently raised exceeds the $1.6 billion the firm was reportedly targeting in February.

However, Telegram has been notoriously opaque in both the development of its new blockchain protocol and the handling of the ICO, so it is unclear whether this marks the conclusion of the firm’s token sale or founder Pavel Durov will seek to raise more cash for the project in the near future.

This opacity has scared many big-name investors away, including renowned cryptocurrency hedge fund Pantera Capital.

The company claims that the Telegram Open Network (TON) — whose native token is called “Gram” — will be a revolutionary “third-generation blockchain” that has the network capacity to process 1 million transactions per second at virtually no cost. However, many blockchain developers have raised serious questions about the practicality of TON’s proposed system.

As CCN reported, quantitative analyst Aaron Brown estimated that the TON could reach a $200 billion market cap in five years — a best case scenario — but that current investors are likely overpaying for the Gram tokens.

Bitcoin Raise 7% to $8,460 Overnight as Cryptocurrency Market Rebounds

After dipping below $7,300 on most major cryptocurrency exchanges, the price of bitcoin has raised 7 percent overnight, increasing from $7,240 to $8,467, triggered by a variety of factors.

G20

Many analysts have attributed the recent increase in the price of bitcoin to the result of the 2018 G20 Buenos Aires summit, during which the Financial Stability Board (FSB), the global watchdog that oversees banks and financial networks as a representative of 20 major economies, stated that existing regulations on cryptocurrencies like bitcoin will be held and no additional restriction or regulation shall be issued.

FSB’s official report referencing FSB Chair and Governor of the Bank of England Mark Carney’s letter read:

“The FSB’s initial assessment is that crypto-assets do not pose risks to global financial stability at this time. The market continues to evolve rapidly, however, and this initial assessment could change if crypto-assets were to become significantly more widely used or interconnected with the core of the regulated financial system.”

Previously, up until this week, several analysts noted that the upcoming G20 meetup has contributed to the decline in the value of cryptocurrencies, as investors anticipated the G20 financial watchdog FSB to crackdown on cryptocurrencies and issue stricter regulations. Investors expected major economies to come together to regulate the global cryptocurrency market with harsher policies.

However, governments have decided to accommodate existing regulations on the global cryptocurrency market, which are already strict in regions like the US and Japan, and follow the regulatory roadmap of leading cryptocurrency markets to facilitate the rapidly growing demand for the emerging asset class.

It is highly unlikely that the G20 meetup was the sole factor behind the recent price surge of bitcoin and the entire cryptocurrency market. But, the cryptocurrency market was in need of an optimistic and positive development to secure an upward trend again, after being in a slump for over a week.

Consequently, the valuation of the cryptocurrency market recovered beyond $310 billion, subsequent to falling below $280 billion, and is eyeing to initiate a short-term rally.

In previous reports, CCN emphasized that the January correction would require several months to recover because many investors were hurt by the decline in the price of cryptocurrencies. In 2017, the cryptocurrency market was considered the path for short-term profits. In early 2018, investors have stated to view the market differently, and speculators or weak hands have left the market.

2018 saw significantly developments in bitcoin, Ethereum, and other major cryptocurrencies along with emerging blockchain technologies. Yet, the price has not represented the magnitude of developments that have happened in the space, most likely because speculators and weak hands were not interested in the technology, but rather in short-term profits.

Short-Term

In the short-term, given the continuous increase in the dominance index of bitcoin, it is highly likely that bitcoin will maintain its dominance over the market in a volatile period like this. Bitcoin’s dominance index is already at 44 percent, and has been increasing since February, as more investors have started to eye bitcoin as a safe investment over other cryptocurrencies.

Cryptocurrency news: Will Litecoin ever overtake Bitcoin?

LITECOIN is currently ranked as the fifth cryptocurrency on the market, it has grown more than 3855.16 percent over the past year and has shot from $4.26 this time last year to a price of $168.49. So why has it experienced this remarkable growth and could it overtake the number one cryptocurrency bitcoin?

Litecoin was founded in 2011, two years after bitcoin was born.

The token is often referred to as the ‘silver to bitcoin’s gold’, as it was launched using the same code as bitcoin and its aim was to improve on the transaction speed of bitcoin.

Instead of using bitcoin’s SHA256 network, Litecoin used scrypt functions which helped to improve transaction speeds.

Bitcoin creates a block of information with data encrypted in 10 minutes, whereas Litecoin does it in two and half minutes per block.

As a cryptocurrency, it is favoured by traders as it is considered to be not as congested as bitcoin and is a lot cheaper as a result.

And experts claim Litecoin has asserted itself as a cryptocurrency which deserves to be in the top five, but does it have the potential to ever overtake bitcoin?

Will Litecoin ever overtake Bitcoin?

Litecoin has experienced remarkable growth this year, increasing in price by 3855.16 percent, compared to bitcoin’s 593.39 percent.

Bitcoin has been plagued by extended transaction speeds as users flood the network – many have said it has become a victim of its own success and has become too congested.

Despite this, experts do not predict Litecoin overtaking bitcoin any time soon.

Bitcoin was the first cryptocurrency on the market so has first advantage and is recognised as a well-know cryptocurrency name, Nicholas Cawley, analyst at Daily FX explained to Express.co.uk.

The number one cryptocurrency managed to garner a critical mass and drew in investors and traders, and Mr Crawley said he does not envisage Litecoin ever outshining bitcoin.

However the analyst also predicts Litecoin will overtake another cryptocurrency this year, which is currently fourth on CoinMarketCap.com.

“I think Litecoin will overtake Bitcoin cash but in market capitalisation terms will struggle to overtake Bitcoin,” Mr Cawley said.

Bitcoin Cash has just under 17 million tokens in circulation against a maximum of 21 million, while Litecoin has 55.5 million of a maximum 84 million in supply, so if prices remain the same litecoin’s market cap will grow faster than Bitcoin Cash.

“I also like the Litepal payment system and when we eventually see the launch of the Litepay debit card, then I can see Litecoin overtaking Bitcoin Cash.”

Kristjan Dekleva, head of product development at Blocktrade was in agreement and did not forsee Litecoin taking the number one spot on the cryptocurrency market.

Mr Tekleva said: “I don’t believe that Litecoin will overtake bitcoin. Litecoin does its intended job well for certain intents and purposes and has somewhat wide market penetration.

“But one it lacks the name recognition that Bitcoin has, which helps it stay where it is despite its flaws, and two there are numerous other altcoins that do Litecoin’s intended job, quick and cheap transactions, much better.

“Ultimately, it functions ok, but not well enough to break out of mid-market in the long run.”

While Andrei Barysevich, Director of Advanced Collection at Record Future, believes Litecoin has the capability to overtake bitcoin at some point, but not in the current climate.

“Bitcoin is not going anyway, everybody knows about bitcoin, in my view, it is going to remain as a gold standard. People will continue to use and continue to store money in bitcoin,” he said.

“However in day to day operations, I think Litecoin is to become more dominant currency, as soon as we start to see established e-commerce websites accepting Litecoin, that’s the time when i think Litecoin is going to dominate bitcoin cash.”

Mr Barysevich added to say he believes Litecoin will continue to experience growth in 2018 and will add on the success it is already experienced.

 

Israel: Steps Toward Cryptocurrency Support

In terms of technological innovation, Israel has been labeled by some as “The Startup Nation”with Israeli ventures raising over $5 billion in capital in 2017. This is almost 10% of China’s yearly fundraising total. While there’s a number of popular applications, platforms, and products including USB flash drives, the Waze navigation app, SodaStream carbonation machines, the country has set its foot in the crypto industry as well.

Back in 2017, Hapoalim, Israel’s largest bank, partnered with Microsoft to create a Blockchain-powered platform to “make the process of signing up guarantors simple and quicker.” And in February 2018, the Israeli Tax Authority (ITA) stated that cryptocurrencies will be taxed by the capital gains as properties.

On February 26, 2018, the country took it even further, when the Israeli Supreme Court handed down a decision that would temporarily block Leumi Bank, limiting a local broker, Bits of Gold, from facilitating the sale of cryptocurrency.

Though many were quick to laud the temporary ruling as ‘precedent-setting,’ it still leaves ample room for further developments. The judge ruling the case, Anat Baron, said that her decision was “not intended to harm the bank’s rights to analyze with specificity every transaction that takes place with the bank account or to take any actions that are related to minimizing risks.” This likely means cryptocurrency brokers and exchanges putting transparency first will be regarded as lawful—for now

Founder and CEO of Bits of Gold Yuval Roash sees this decision as justified, saying,

“Regulation is one of the things that has been important to us since the beginning. From the very beginning, we saw the problem with Bitcoin in terms of its anonymous characteristics, and we wanted to receive a currency service certificate—and we received it in August 2013.”

This is significant progress from December of last year, when a Tel Aviv district court ruled in favor of Leumi Bank, who had refused service to Bits of Gold because of Bitcoin’s inability to meet anti-money laundering standards. Bank Leumi had also been piggybacking on the Bank of Israel’s June labeling of exchanges as “websites that facilitate gambling transactions”, which is a sore spot for Israel especially. The country proved to be careful about upsetting the balance within its borders, and even blocked popular ride-sharing application Uber from an Israeli debut.

After examining the last five years of Bits of Golds’ operations, Judge Baron determined Leumi’s previous assumption that violations of the law would occur if Bitcoin were left unchecked were false.

In relation to the ruling, Yair Geva, head of the Hi-Tech Department of Israeli law firm Herzog, Fox & Ne’eman, remarked:

“It should be emphasized that the Court did not rule on the fundamental question—which has not yet been decided—whether Bank Leumi is entitled to refuse banking services for cryptocurrency trading. Although the final decision is still pending, it seems that this recent verdict of the Supreme Court will continue to give tailwinds to the tremendous growth of the crypto industry in Israel particularly, and to hi-tech as well as the financial industry in general. One of the reasons for this is that the Supreme Court clarified that Bits of Gold operated transparently and did not violate any statutory provision. In other words, the Supreme Court determined that currently there is no direct legal prohibition on cryptocurrency trading in Israel. It remains to be seen how regulators in Israel will respond to this landmark decision.”

Regardless of how regulators will respond, it’s already clear that progress on Israeli blockchain innovations hasn’t slowed.

“As with any new and promising technology, jurisdictions that instate well-balanced policies to promote innovation and adoption, will find themselves attracting talent and business to their ecosystems on grand scales. The best frameworks will be the ones that take a learning approach, allowing entrepreneurs and institutions to deeply understand how these technologies affect all stakeholders and develop the policies which are beneficial to most while educating the public on tradeoffs and accountability. Israel has always seen the advancement of technology as a strength and opportunity, and is well positioned to lead in Blockchain development and applications,” said Galia Benartzi, Co-founder of Bancor.

Itay Nagler, Israeli citizen and CEO of blockchain-driven travel startup Cool Cousin, says that Israelis, as a default, undercut the perception that things can’t or shouldn’t change.

“We are almost raised to believe that there is always a better, more efficient way to do things. That is one of the main reasons such a small country is home to many great innovative companies and individuals. This is also an explanation to why Israelis were among the firsts to adopt blockchain technology and crypto. A lot of us see it as a wonderful solution to many problems and our mentality of “no fear” to change, and relatively easy access to quality human resources and funding allows us to act on it. This, I believe, helped us during the past decades to position ourselves as pioneers and experts in many industries.”

Even though there were no concrete regulations of the industry before, it didn’t stop entrepreneurs from launching blockchain projects of their own. Bancor was one of the first major ICOs, raising over $150 million in mere minutes, and has its origins in Israel. IOTA , an IoT-focused Blockchain solution, recently opened an office in Tel Aviv, noting that the city is “a well-established tech hub, always ranking in the top 10 of start-up reports.”

These positive changes, however, go contrary to the recent decision by the Israeli regulators of not including companies involved in the crypto industry in the TASE, Tel Aviv Stock Exchange indices, due to its ‘trading volatility.’

Israel appears to be setting itself in the Blockchain ecosystem, along with the rest of the world, but tries first guarantee that the market’s grey areas be limited while its most useful attributes allowed to flourish

Traditional Liechtenstein Bank Launches Cryptocurrency Investment Platform

Citizens of Liechtenstein, a country that has become rather famous for its cryptocurrency acceptance, will soon be able to purchase digital currencies directly from a bank. Given the royal family’s demonstrated interest in the asset class and the general willingness to embrace cryptocurrency development, the move is perhaps not too surprising.

According to a press release issued by Bank Frick on February 28, 2018, it will be offering a wide variety of cryptocurrencies on its trading platform effective immediately. The initial set of digital currencies available for purchase will include BitcoinEthereumLitecoin, Ripple and Bitcoin Cash.

The target audience of the bank likely comprises of high net worth individuals and institutional investors, or rather, the type of individuals that already have a sizeable amount of funds in various banking instruments.

For any cryptocurrency exchange or broker, especially those, security is an important consideration. As is traditional for any cryptocurrency exchange, Bank Frick has stated that it will store all of its customers’ cryptocurrency assets in cold wallets, or rather, on computers air-gapped from the internet for the most part. Other security features, however, were not detailed in the press release.

The financial institution in question is already a fully-regulated bank that complies with all know-your-customer related laws at the country and EU level. Thus, it is safe to conclude that the same identification requirements will be carried over for any investor looking to purchase any amount of cryptocurrency from Bank Frick.

The bank also confirms regulatory compliance in its statement,

“At Bank Frick, cryptocurrency investments are subject to the same strict statutory measures as traditional financial transactions,” and “Clients can only invest in cryptocurrencies once they have been fully identified and verified. The verification and identification process also involves checking the origin of the money used to invest in them.”

Even though Bank Frick is a financial institution that primarily caters to Liechtenstein citizens, it has announced that the platform will be available to any European entity interested in it. The Chief Client Officer, Huber Büchel, said,

“Our services are in demand from companies across the whole of Europe. This is because they know that we can offer them reliable support in implementing their business models with cryptocurrencies and blockchains in line with the existing regulatory framework.”

Furthermore, the bank has announced that it will be accepting foreign currencies in exchange for cryptocurrency assets. At this time, investors can transact in US Dollars, Euros or Swiss Francs.

Bank Frick joins a rather exclusive list of banks willing to not only adopt, but also facilitate the buying and selling of cryptocurrencies. With most financial institutions around the world heading in the exact opposite direction, it is clear that Liechtenstein’s banks have other intentions.

Bittrex Will Remove 82 Tokens Due to Lack of Liquidity in Small Cryptocurrencies

Bittrex, one of the largest cryptocurrency exchanges which also powers UpBit, South Korea’s second biggest exchange operated by Kakao subsidiary Dunamoo, has stated that it will remove 82 tokens from its trading platform.

Token Removal

“Occasionally, there are circumstances that lead Bittrex to remove a coin’s wallet or market from the Bittrex Exchange,” said the Bittrex team. “We will be removing the wallets included in the list below on March 30, 2018. Once these wallets are removed, we will no longer be able to recover these coins. Users must withdrawal their coins before March 30, 2018, in order to keep them.”

The Bittrex team also stated that several cryptocurrencies have broken blockchains that have disabled users from withdrawing their balances.

“The coins marked with an asterisk (*) have broken blockchains or wallets that will not allow withdrawals,” said Bittrex, referring to cryptocurrencies like CRYPT.

On leading trading platforms, it is difficult for exchanges to sustain a stable order book if a cryptocurrencies does not have enough liquidity and demand from users of the platform. Lack of liquidity leads to price manipulation, which can be initiated with funds as little as $50,000, as shown in the recent study done by cryptocurrency trader Sylvain Ribes.

By using a method called slippage–a process of selling $50,000 worth of a particular cryptocurrency on a trading platform to measure its impact on the price–, Ribes evaluated the liquidity of digital assets on major exchanges like OKEx and GDAX. While GDAX had a slippage of less than 1 percent, on OKEx and other cryptocurrency-only exchanges with low market cap or volume cryptocurrencies, each sale of $50,000 led to a 2 to 10 percent drop in the market value of cryptocurrencies.

“A bit of wash trading and artificial volume inflation is to be expected in a thoroughly unregulated market. What I did not expect was the magnitude of the fraud,” said Ribes. “Many pairs, albeit boasting up to $5 million volumes, would cost you more than 10% in slippage, should you want to liquidate a mere $50k in assets,” he added.

Wash trading and price manipulation is common on major trading platforms with small cryptocurrencies or low-volume cryptocurrency pairs. The US Securities and Exchange Commission (SEC) recently warned investors against pump and dump schemes that are often seen in the cryptocurrency market.

“Fraudsters often try to use the lure of new and emerging technologies to convince potential victims to invest their money in scams. These frauds include ‘pump-and-dump’ and market manipulation schemes involving publicly traded companies that claim to provide exposure to these new technologies,” SEC’s statement read.

SEC’s Involvement

Earlier this month, the SEC requested cryptocurrency exchanges to either de-list ICO tokens or register with the agency in order to continue providing support for tokens. For US-based cryptocurrency exchanges like Bittrex, it is mandatory to register with the SEC before processing trades involving tokens.

Throughout next few months, many major exchanges will likely de-list or remove small cryptocurrencies that are prone to pump and dump schemes, and market manipulation.

Could Ripple, Bitcoin and Ethereum return to previous high?

CRYPTOCURRENCIES such as Bitcoin, Ripple and Ethereum are all in the green today after a turbulent start to the year. But could all three top tokens return to their previous record highs? Here are the latest price predictions.

Bitcoin had a good weekend after a poor start to 2018, dropping to under $6,000 at the start of February.

As of Marsh 17, CryptoCoinHubs  highlights a peak up to $8,150  at the time of writing.

Ethereum is up at $600  with Ripple  at $0,66. While LiteCoin , a Litecoin is currently worth $160

The rises come after a damaging month for cryptocurrencies as a whole. After peaking at about $834billion on January 7, the market plunged an eye-watering 66 percent, wiping out some $553billion, according to CoinMarketCap.

But with Bitcoin, Ripple and Ethereum all back in the green today, many crypto experts are confident that the market can reach new heights this year.

Could Ripple, Bitcoin and Ethereum return to previous high?

Thomas Glucksmann of GateCoin told CNBC: “Increasing regulatory recognition of cryptocurrency exchanges, the entrance of institutional capital and major technology developments will contribute to the market’s rebound and push cryptocurrency prices to all new highs this year.”

He added bitcoin, the biggest and best-known cryptocurrency, could be “pushing $50,000 by December”.

Jamie Burke, CEO at Outlier Ventures, is bullish about the cryptocurrency market, insisting it has the potential to reach $1trillion.

He told CNBC: “We believe after February the market will likely go on a bull run comparative if not greater than last year potentially reaching the trillion-dollar mark before a proper crypto winter sets in where the market becomes more focused on proper market fundamentals.”

And Panos Mourdoukoutas, writing for Forbes, suggested that after “ being in a deep correction for a few weeks, Bitcoin, Ethereum, Ripple, and Litecoin have been coming back nicely over the last week, gaining 19.87%, 10.48%, 30.57%, and 53.90% respectively”.

He added the crypto turnaround after the recent crash comes as equity markets rebounded from the sell-off early in the month.

And he also wrote the cryptocurrency “technicals” remain strong, saying “83 cryptocurrencies [are] advancing and only 17 declining among the top 100 listed currencies.”

Dennis de Jong, managing director of UFX, says he believes cryptocurrencies remain strong and will not plummet for good in 2018.

He told Express.co.uk: “It may not capture the headlines like the volatility of bitcoin has in recent months, but there have been considerable advances in the underlying technology of the blockchain.

“Many industries are already live with, or in the process of testing, blockchain use cases that have potentially huge knock-ons for data management and security advancements.

“The relationship between crypto usage and investment in the space underpins bitcoin’s value to an extent, and for this reason I can’t see it going anywhere soon.”

But as central banks attempt to kickstart regulation – Citibank India being the latest financial authority this week to ban cryptocurrency payments on debit or credit card – some investors believe the market slump could be an indicator of an overall crash in all financial markets.

Bleakley Financial Group CIO Peter Boockvar said: “If bitcoin resumes its decline here, I think that equity investors should pay attention.”

INTRODUCTION OF CRYPTOCURRENCIES WORLD

Bitcoin (BTC)

Bitcoin was created in 2009 by an anonymous person,  under the name of Satoshi Nakamoto. It has a maximum limit of 21 million, and  16,955,337   bitcoins are in circulation as of April 2018. It is widely accepted as the most popular cryptocurrency and has the largest market capitalization.

Ethereum (XRP)

Ethereum is an open-source, blockchain-based platform that runs Turing-complete smart contracts. The value token of the Ethereum blockchain is called ether. It was invented by Vitalik Buterin in 2013 and later developed using a fund, US$18 million worth of bitcoins, raised via an online public crowd sale of ether in 2014.

Litecoin (LTC)

Litecoin was released in October 2011 by Charles Lee, using a technology similar to Bitcoin. Compared to Bitcoin, the main differences are a block generation time that is decreased from 10 minutes to 2.5 minutes per block; a maximum limit of 84 million for Litecoin, which is four times as high as that of Bitcoin; and the adoption of a different hashing algorithm.

Dash (DASH)

Dash (formerly known as XCoin and Darkcoin) was initially proposed in January 2014 by Evan Duffield, who is also the lead developer. Dash has released the decentralized governance by blockchain system, and it is the first decentralized autonomous organization. It is a privacy-centric cryptocurrency. It uses a coin-mixing service called PrivateSend to anonymize transactions and InstantSend to allow for instant transactions.

Dogecoin (DOGE)

The two creators of Dogecoin, Billy Markus and Jackson Palmer, hoped to create a fun cryptocurrency that would appeal to more people. Hence, they used the Shiba Inu dog from the “Doge” Internet meme as the logo and created Dogecoin in 2013. There is no limit to the number of Dogecoins to be produced. Transactions of Dogecoins are made in online communities such as Reddit and Twitter.

Monero (XMR)

Monero (originally named BitMonero) is another open-source, privacy-centric altcoin created in 2014. It is a 100% PoW cryptocurrency. The privacy of transactions is protected by ring signatures (that hide the sending address), RingCT (that hides the amount of transactions), and stealth addresses (that hide the receiving address).

BitShares (BTS)

BitShares is an open-source public cryptocurrency platform that offers a variety of features and was invented by Daniel Larimer. It allows users to issue and trade stocks or debts on the distributed ledger.

MaidSafeCoin (MAID)

MaidSafeCoin is designed for the secure-access-for-everyone network. The data of users and transactions are safe and secure. The network encourages users to provide their resources, such as storage space, central processing unit power, and bandwidth, by giving them the coins as a digital token. The maximum number of MaidSafeCoins in circulation is 4.3 billion.

Nxt (NXT)

Nxt was released in 2013 by an anonymous software developer, BCNext. It is the first cryptocoin that uses purely PoS for consensus, thus making the money supply static—1 billion in the case of Nxt. The block generation rate is 1 minute per block. Despite the additional risks, the complex core infrastructure of Nxt makes it a flexible platform because it is easier to build external services on top. For example, it allows for currency creation and has a messaging system and marketplace.

Bytecoin (BCN)

Bytecoin is the first cryptocurrency invented with the CryptoNote protocol. It secures transactions because the identities of the sender and the receiver and the amount of transaction are all concealed. The number of Bytecoins is capped at 184.47 billion, and the block generation time is 120 seconds per block.

Other Cryptocurrencies

In addition to the aforementioned 10 cryptocurrencies, the following altcoins have also been drawing investor attention.

Ethereum Classic (ETC). Ethereum Classic is a continuation of Ethereum’s original blockchain, so it is also an open-source, blockchain-based platform that supports Turing-complete smart contract. It was created after the hard-fork debate in 2016 and is designed to allow smart contracts to run exactly as programmed without any possibility of third-party interference.

Factom (FCT). Launched in 2014, Factom is an open-source, distributed, and decentralized protocol built on top of Bitcoin. Instead of storing only financial transactions, Factom blockchain technology can record any type of data, making it an ideal platform for real-world business record-keeping systems.

NEM (XEM). NEM is a P2P platform that provides services like payment and messaging system. It uses a proof of importance algorithm, so it does not require much computing power and energy to mine. Together with Mijin, which is a licensed version of NEM, it is the first public/private blockchain combination.

Ripple (XRP). Ripple was created by Chris Larsen and Jed McCaleb. It is one of the first cryptocurrencies not developed based on Bitcoin’s protocol. It is an open-source, distributed P2P payment network, but it is centralized—managed by the company. Any currencies, including the ripple digital currency and ad hoc currencies that have been created by users, can be transferred on the payment system. The maximum number of ripple is 100 billion.

Zcash (ZEC). Launched in 2016, Zcash provides privacy and selective transparency of transactions. Although the transactions are recorded in the public blockchain, Zcash allows for completely transparent transactions using t-addresses, and it can also offer a greater level of privacy to its users using z-addresses. It adopts zero-knowledge cryptography to protect the sender, amount, and recipient of a transaction using a z-address. As with bitcoin, the total amount of Zcash is capped at 21 million

For the complet crypto coins list with over 1300 cryptocurrencies and tokens listed ,   visit cryptocoinhubs.com