Recap | Former Coinbase CTO: “I don’t think any crypto can compete with Bitcoin” | JP Morgan introduces Zether protocol for private Ethereum transactions | Bitcoin technical analysis
|CryptoSlate||May 28, 2019|| 5|
Welcome to CryptoSlate Recap, our daily newsletter containing links to some of the top blockchain stories on CryptoSlate and across the web.
The IOTA Foundation announced the launch of Coordicide, a planned protocol upgrade which removes the network’s centralized coordinator. According to the press release, Coordicide aims to provide a new type of decentralized mechanism for securing data and digital assets on IOTA’s Tangle-based network.
The software development team at J.P. Morgan Chase, the world’s sixth largest financial institution with $30 trillion of assets under custody, created a new privacy feature for Ethereum protocol-based blockchain networks. The recently developed privacy feature allows users to hide transaction details including the amount being transferred and the address of the sender.
The circulating supply of the Winklevoss twins’ stablecoin Gemini Dollar (GUSD) is plummeting. From a peak market capitalization of more than $100 million in December of 2018, the coin recently hit new lows of $22 million.
Balaji Srinivasan, the former CTO of Coinbase and general partner at Andreessen Horowitz, believes that the “blockchainification” of every major web app is the obvious investment strategy for the next 10 years.
According to Litecoin.com, the recent onchain metrics for LTC indicate that a “potential floor of support and intrinsic user interest” in the proof-of-work-based cryptocurrency has been established.
Justin Sun caused the value of both TRON and BitTorrent to jump on Sunday morning after announcing that he might share a “huge” announcement on Twitter in the next few days.
Since February, bitcoin experienced four consecutive months of price increases. BTC has gone up more than 168 percent, marking a new yearly high of $8,950 today. Bitcoin Technical Analysis On the 1-month chart, a series of support and resistance levels based on historical data can be drawn.
Amidst hyperinflation, a leadership crisis, and international interference, Venezuela’s crisis has come to represent the failings of modern finance and highlights how cryptocurrency could reshape it. Venezuela’s economy has been in a downward spiral for years, with extremely tight capital controls dating back to the early noughties limiting citizens from acquiring foreign currency.
UPbit, the largest crypto exchange in South Korea, was the only exchange to record a profit in 2018. UPbit is operated by Dunamu, a company heavily invested in by Kakao—one of the most influential internet conglomerates in South Korea.
The cryptocurrency market went through a correction after a bullish momentum that took it to new yearly highs. Some altcoins have already bounced off from critical support points giving signs of a continuation of the bullish trend.
“Where is Nouriel Roubini?” is something more people have been asking lately…
Bitcoin is becoming a better store of value than many fiat currencies.
Block.one has a big announcement planned for June 1st, but CEO Brendan Blumer is trying to make sure people don’t have unrealistic expectations.
Mark Yusko of Morgan Creek Capital appeared on CNBC and said Bitcoin is a better bet than stocks right now.
CNBC's Fast Money @CNBCFastMoneyHedge fund vet @MarkYusko says bitcoin is a better bet than stocks. https://t.co/mbnwGJUmNi
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