This week provided a lot of interesting headlines in the crypto space while bitcoin still remained fairly indecisive. Catch up on the details!
Bitcoin charts getting exciting again?
Bitcoin’s price remained largely in the upper $3,000 range this week. It still appears unclear whether the asset has bottomed in price yet, or if the market is yet to see lower prices before an overall reversal to a bull trend.
The low $4,000 range seems to be a difficult zone of resistance for BTC. It will be interesting to observe what will happen if price makes another run at that price zone.
Read on Crypto Insider
TrueUSD partners with Armanino, announces real-time stablecoin confirmation
This week saw TrustToken, with its TrueUSD stablecoin, partner with top accounting firm Armanino, according to a press release given to Crypto Insider. This partnership will allow the public to see TrueUSD fund backing confirmation in real time.
Armanino constructed a dashboard, which includes third-party validation, exclusively for TrustToken. The dashboard will help add transparency in confirming TrustToken funds.
Read on Crypto Insider
Coinbase transitions Neutrino team members out
Coinbase
recently acquired blockchain analytics company Neutrino. The acquisition sparked a negative reaction from the crypto community due to several of Neutrino’s top figures who previously worked for an entity called Hacking Team.
Hacking Team allegedly has a checkered past regarding the building and selling of spyware, according to an
article from Motherboard. In response to the Coinbase acquisition, the #DeleteCoinbase
movement on Twitter received notable traction.
In a March 4 blog
post, Coinbase CEO Brian Armstrong wrote details of Coinbase’ decision to “transition out” Neutrino staff. “[T]hose who previously worked at Hacking Team (despite the fact that they have no current affiliation with Hacking Team), will transition out of Coinbase,” Armstrong wrote in his Coinbase blog post.
Tron joins up with Tether to see USDT on Tron blockchain
This week also saw Tether and Tron collaborate, as provided in a
statement on Tether’s website. USDT will see development on Tron’s blockchain, in what will be called a TRC20-based USDT.
“The TRC20-based USDT enables interoperability with TRON-based protocols and Decentralised Applications (DApps) whilst allowing users to transact and exchange fiat pegged currencies across the TRON Network,” Tether noted in its statement.
CoinTelegraph’s article on the subject
mentioned the new USDT asset should be introduced to Tron’s blockchain by quarter two of 2019.
Binance Coin pumps, shows bear market strength
Binance Coin (BNB) has shown amazing price strength lately, which says a lot during a bear market. At the time of Crypto Insider’s article on the subject, BNB only was down about 56% from its all-time high, which is an accomplishment in the current bear market.
In a recent video, Crypto Bobby YouTube host Rob Paone related BNB’s gains to the Binance Launchpad. The Launchpad has hosted multiple new popular initial coin offerings (ICOs), with BNB as the only avenue to invest in such ICOs.
Paone compared the current BNB situation with that of ether during 2017’s ICO boom. Back then, many ICOs were launched on Ethereum’s blockchain, with investors using ETH to invest in those ICOs. Paone posited a similar application might now be true of BNB token usage.
Bitcoin mining sees growth after 19-month low
For more than a year and a half, bitcoin has reportedly seen difficulty regarding mining revenue. A recent
report from Diar, however, revealed an improvement in bitcoin’s mining gross margins.
“The gross margins of the miners went down from 94% at the beginning of 2018, to 32% at the beginning of 2019. But in February, the gross margins rose up slightly to 39%,” Crypto Insider said based on Diar’s data.
Bitmain reportedly also has seen possible increased mining interest according to certain product sales.
