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Recently, a renowned Chinese financial watchdog, the National Internet Finance Association of China (NIFA), warned against the increasing cryptocurrency investment risks. Its data analysis reveals that overseas crypto trading platforms usually fake trading volumes. Additionally, some trading platforms compare digital currencies to safe-haven assets like gold. The association also did a sampling analysis on trading data on some crypto exchanges and found out that the daily trading turnover rate for over 40 coins exceeds 100%. However, the daily turnover rate…

On the 1st of April 2020, Binance announced the acquisition of CoinMarketCap, a renowned crypto data tracking site. As part of the acquisition deal, CoinMarketCap will stay committed to offering the most accurate, quality, and timely crypto data in the industry. However, CoinMarketCap founder Brandon Chez will step down as the company’s CEO. However, Chez will be the advisor for the company, as the current CoinMarketCap’s  Chief Strategy Officer, Carylyne Chan, will be the company’s interim CEO. What Industry Players…

On the 2nd April 2020, the Blockstream Co-Founder and CEO, Adam Back, took to his Twitter account to address the upcoming Bitcoin halving issue. The halving will take place on the 13th of May 2020. Adam pointed out that just as central banks worldwide are doing enormous amounts of qualitative easing (QE), Bitcoin will do what he calls qualitative hardening. He claims that this qualitative hardening will occur next month with Bitcoin’s next block reward halving. The Bank of England…

On the 1st of April 2020, Bitcoin made some bullish signs over $6200 against the USD. Afterward, it made a downward correction from the $6600 resistance area and visited the support level at $6200. Eventually, the Bitcoin price traded as low as $6159 and then initiated a new increase. The price gained momentum and broke above the key $6400 support area. Yesterday on the BTC/USD chart, there was a bullish trend line, with resistance near $6370. Eventually, Bitcoin rallied above…

A recent report stated that Binance is preparing to roll out its crypto mining pool and already has professionals for the project. The launch will take place in the second quarter of 2020, according to the report. Changpeng Zhao, Binance CEO, confirmed the news on his Twitter account. Additionally, Zhao mentioned there are many other projects currently ongoing in the Binance ecosphere. Industry Players’ Views on the Initiative Binance’s move had many industry players share their ideas on the initiative.…

Coinbase stated that it witnessed a tidal wave of deposits in the 48 hours after Bitcoin’s plunge on the 12th of March 2020. The crypto exchange saw its highest Bitcoin buying numbers in the last one year. Coinbase posted a recovery from its drop to $3800 with bullish sentiment presenting before Bitcoin reached $7800, which may contribute to a further upward push, after the block reward halving coming in the short term. Reports reveal that retail Bitcoin purchasing on Coinbase…

Recently, the adoption of Russia’s major crypto law known as “On Digital Financial Assets” got finalized. Nevertheless, according to reports, Anatoly Askakov, the chairman of the Russian State Duma Committee on financial markets, said that the bill wouldn’t get adopted before the end of spring of 2020 due to the Covid-19 pandemic. Askakov claimed that the previous delays in the bill’s adoption occurred because of the disagreement on the new asset type between local authorities. He highlighted that the central…

Binance enters the Korean market with Binance KR, a trading platform deploying Binance Cloud Following the launch on April 1, users will be allowed to register and deposit digital assets such as BTC, ETH, BNB, and BKRW  Binance continues accusation spree with a nearly finalized deal to acquire digital currency data aggregator CoinMarketCap  On March 31, 2020, Binance exchange revealed plans to launch Binance KR, a cryptocurrency exchange platform, to serve the Korean users on April 2, 2020. User registration…

Recently, Binance Academy announced the development of a blockchain research institute in China. Binance Academy is the educational arm of Binance crypto exchange. The blockchain research institute is known as Lingang Blockchain Technology and Industry Research Institute, which will serve as the hub for blockchain talent. Lingang Blockchain Research institute will shape breakthroughs in blockchain technology and speed up the application of blockchain technology. It will happen through integrations with artificial intelligence (AI), big data, Internet of Things (IoT), and…