Bancor Launches Community Token Network to Combat Poverty in Kenya

Bancor is launching a network of blockchain-based community currencies in Kenya aimed at combating poverty, according to a press release shared with Cointelegraph June 18. Bancor, self-described as a “decentralized liquidity network,” secured a then-unprecedented $153 million in under three hours in an Initial Coin Offering (ICO) June 2017. As of press time, it is the world’s largest decentralized crypto exchange with almost $1.6 million in trade volume, according to data from CoinMarketCap. The company’s new project seeks to stimulate local and regional commerce and peer-to-peer activity by enabling Kenyan…

Origin Token to Raise $6 Million in CoinList Investor ICO

Decentralized marketplace startup Origin Protocol is looking to expand its audience, as well as raise more capital, through a compliant token sale. Announced Monday in a press release, Origin has set a target of $6.6 million for the offering, with SEC-registered CoinList Capital acting as its investment adviser and issuing platform. Origin co-founder Josh Fraser said that, more important than the money, will be the opportunity to grow its network with endorsement from CoinList, an AngelList spin-off. The startup wants “as many people to participate as possible,” he told CoinDesk.…

Cryptocurrency Volume Drops To A Two-Month Low, Should You Be Worried?

Cryptocurrency volumes have dipped to a two-month low, with levels resembling those seen earlier this year during April’s downtrend. But what does this mean for the market in general? Is Volume An Viable Indicator? As of June 18th, exchange volume has collectively dropped under $10 billion dollars, with these levels being seen in early April.  The collective exchange volume is currently down over 80% since the large influx seen in early January, which topped out at a staggering $68 Billion in 24 hours. Tom Lee called this absurd amount of…

A16z Leads Investors in $20 Million ICO for Crypto Assets Platform

Asset tokenization platform TrustToken just raised $20 million in a strategic token sale with the help of major venture corporations, including Andreessen Horowitz (a16z). The startup announced Monday that the cash raised in the funding effort, which was also backed by BlockTower Capital and Danhua Capital, will be used to continue developing its platform, which seeks to list different tokens back by physical assets, according to a press release. TrustToken has so far released one such token already – a “stablecoin” called TrueUSD, according to the release. In a statement, TrustToken…

Crypto Not Scalable Enough to Be Money, Says Bank of International Settlements

The Bank of International Settlements (BIS) has said that cryptocurrencies cannot scale to function as money, in a 24-page article published yesterday, June 17, as part of its annual economic report. According to the BIS – an organization based in Switzerland made up of 60 of the world’s central banks – cryptocurrencies will not be able to scale to become a medium of exchange in a global economy. The BIS report outlines three key “shortcomings” that will prevent crypto from replacing money – these being “scalability, stability of value and…

Cryptocurrency Market Declines $5 Billion, Bitcoin Fairly Stable at $6,450

Open Positions at CCN: Full Time and Part Time Journalists Wanted. The cryptocurrency market has dropped by $5 billion over the past 24 hours, from $282 billion to $277 billion. Most major cryptocurrencies including Bitcoin have declined by 1 to 2 percent but did not demonstrate any major movement on both the upside and downside. Bitcoin and Ethereum outperformed the top 10 cryptocurrencies with a slight loss of 0.8 percent, while Ripple, Bitcoin Cash, EOS, and Cardano experienced a loss of around 2.5 percent. Where Does Bitcoin go Next? Over…

Bitcoin Recovery Stalls Raising Risk of Price Drop

Bitcoin (BTC) is once more facing a drop to (or below) $6,000, with both short- and long-duration charts being aligned in favor of the bears. The cryptocurrency found acceptance above the key resistance of $6,425 (April 1 low) in the second half of last week, raising the prospects of a corrective rally towards the $7,000 mark. Further, while a fall to $6,000 following a bear flag breakdown on Friday seemed likely, losses were unexpectedly cut short at $6,300, signaling bearish exhaustion. Yet, the leading cryptocurrency did not find any takers…

Ripple Donates $2 Million to Texas University’s Blockchain Initiative

Open Positions at CCN: Full Time and Part Time Journalists Wanted. One of 17 institutions chosen for Ripple’s $50 million academic pledge, the University of Texas at Austin will receive $2 million from San Francisco-based industry giant Ripple. The McCombs School of Business at UT will receive $2 million from Ripple over the next five years to fund research at the institution’s Blockchain Initiative program, a report by university student newspaper The Daily Texan has revealed. McCombs hosted its first blockchain conference in April 2018 to much interest among faculty…

Bitcoin Price Watch: BTC/USD Struggle Continues

Key Points Bitcoin price failed to move above the $6,600 resistance and it currently under pressure against the US Dollar. There is a significant bearish trend line formed with resistance at $6,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must move above the $6,500 hurdle and the 100 hourly simple moving average to climb higher. Bitcoin price is still struggling to gain pace above $6,600 against the US Dollar. BTC/USD is likely to hold the $6,325 and $6,230 support levels in the near…

Indian State Kerala to Put Milk and Fish Supply Chains on a Blockchain

Open Positions at CCN: Full Time and Part Time Journalists Wanted. The government of Kerala, a state in South India, is turning to blockchain tech to organize the supply chain process of everyday groceries. The new project will specifically look to streamline the supply chain networks – including distribution – of milk, vegetables, and fish in the state using blockchain technology, the Press Trust of India reports. The Kerala Development and Innovation Strategic Council (K-DISC), the state’s think tank, will spearhead the project that will include RFID tags and the…