After sinking to a year-to-date low price below $6,000 in late June 2018, bitcoin price has jumped back to above $7,000 and as of July 20, 2018, trades at $7,482. This has fuelled hopes that the race is back on. Some would go as far as to say it might become digital gold, with its market cap more than tripling with the help of physical gold.
From its roots in Southern Poland to its new home in Malta, the exchange aims to power the local economy while serving a global audience in order to demonstrate the true meaning of a borderless business, especially when it operates in a medium which is built upon the same notion.
Jeremy Allaire, CEO, and co-founder of FinTech company Circle believes blockchain and cryptocurrencies may someday be as widespread as the Internet is today, and he is certain Ethereum will be the industry’s primary driver.
Bitcoin’s unexpected price jump saw the cryptocurrency jump almost $600 in just over thirty minutes of trading on Tuesday, July 17, 2018. By Wednesday morning, the price settled at $7,370, with signs of continued upward movement.
Naturally, many investors are worried about a potential pump-and-dump cycle, while others throw caution to the wind and dive into the market head first. Is this a sustainable price leap, or merely a short-term jump before crashing back into bear market territory?
If you’re just getting into cryptocurrency trading, or even if you’re highly experienced, there’s no doubt you could be overwhelmed by the over 1,600 digital currencies and more than 200 exchanges you can trade them on. And while there are similarities, each exchange is different. The one similarity that does distinguish the exchanges though is whether they are centralized exchanges or decentralized exchanges.
BlackRock, the global investment management corporation based in New York City, has set up a working group to look into ways it can take advantage of cryptocurrencies and blockchain industry, its CEO said on July 16, 2018.
By far the most popular way to date to fund new blockchain projects has been the initial coin offering (ICO). It’s so popular that in 2017 nearly $4 billion was raised through ICOs, but so far in the first half of 2018 (through June 30, 2018) over $12 billion has been raised through ICOs. The problem with the ICO process is that it is fraught with hackers, frauds and mediocre projects.
Data from Coin ATM Radar website shows that 3472 Bitcoin ATMs have already been installed in 72 countries. But none of these ATMs has captured the attention of the cryptocurrency community than the installation of MoonZera in Malta on July 14, 2018.
MoonZera is the first two-way Bitcoin ATM in the market. Developed by an innovative company called MoonZebra, the ATM enables users to buy as well as sell cryptocurrencies using fiat currency. Using the two-way Bitcoin ATM, users will also be able to convert fiat currency to cryptocurrencies and vice versa.
When it comes to cryptocurrency, nothing really compares to Bitcoin. Its name remains synonymous with cryptocurrency to the general public who are not aware of the fact that different cryptocurrencies even exist in this space.
However, since these other cryptocurrencies do exist and remain very popular amongst people who have some knowledge about the cryptocurrency industry, several new cryptocurrencies have come to surface in the past few years and have gone on to achieve success on their own.
If you’re looking for a new alternative to the existing cryptocurrency exchanges you have no further to look than Gate.io, which has just come into operation in 2017. It was created with a goal of offering users access to otherwise difficult to find coins and new projects, and it seems to be seeing good early success. Additionally, it was designed to help investors find information about current market trends and specific coins.