CME Futures Open at $20k, Crypto’s Market Cap Eclipses $600bln

Following in the footsteps of CBOE, the CME Group launched their own highly anticipated Bitcoin futures on Sunday evening. Come Monday morning, cryptocurrency’s overal market cap reached another milestone at a $600bln valuation, making this jump from its $500bln worth in just five days. Wall Street’s Newest Toy Adding to Bitcoin’s bullish December run, the Chicago Mercantile Exchange’s futures opened with a price of $20,000 for its January 2018 contracts. The successful opening comes just a week after CBOE began trading its own Bitcoin futures. Both of the United States-based exchanges were cleared for trading by the Commodity Futures Trading Commission earlier in January. These contracts track the price of Bitcoin from an index that draws from multiple private exchanges, but the trades do not include actual Bitcoins, as their value comes solely from Bitcoin’s price movements. According to CME data, upwards of 220 January contracts were sold within the first hour, and a handful more were sold for Feburary, March, and even June. While this figure is noteworthy, it’s tame compared to the 800+ trades in the opening hours of CBOE’s futures that crashed the exchange’s website. Initially, CME’s January futures began trading at $20,650, a good $1,000 more than the exchange’s reference rate for Bitcoin’s market valuation at the time. The February, March, and June contracts also traded over $20,000, even as the January futures began slipping into the $19,000 range over the course of the opening. At time of writing, the January contracts have reached a volume of 847 trades, with a 24hr high og $20,865 and and a low of $18,165. Between January, February, March, and June, each month’s future is currently trading just above $19,000. The Market in General While future’s trading was brimming with $20k optimism in CME’s first hour, Bitcoin’s present-day market played it safe amidst the newest futures opening. After transcending a new all time high of $20,089, Bitcoin began a steady decline back to $18,355. Since this dip, Bitcoin price has flirted in the range of $18,000-$19,000. Meanwhile, the rest of the market has continued its holiday boom, as cryptocurrency’s overall market cap topped over $600bln in the early hours of Monday morning. The market has since fallen back to around $59bln after achieving this significant milestone. A considerable bullrun has swept the market this December to push the market capitalization to its recent all time high. The majority of the market has benefitted from this run, but a few of big winners standout. Tron, for instance, is up 2,000% from its asking price in the beginning of December. Stellar Lumens is another big gainer, moving up to #13 on CoinMarketCap after going from $0.07 to an all time high of $0.29 over the course of the month. Within the market cap top 10, Caradano, Litecoin, and Ripple have been the best performers this December, increasing 400%, 220% and 200%, respectively. Still, the rest of the top 10 have little to complain about. In the past 24hrs, 6 out of the market cap’s top 10 reached their own all time highs. Excluding Bitcoin, this list includes Bitcoin Cash, Dash, Cardano, NEM, and Monero. As the wake of CBOE and CME futures suggest, institutional money has become increasingly attracted to the prospect of cryptocurrencies. In addition to these futures, Nasdaq and Cantor Fitzgerald expect to launch their own commodities in 2018. As big named players get more involved, cryptocurrency markets could continue their healthy growth in the months to come.

FAA names seven nuclear research labs as no-drone zones

The FAA has granted DOE's request to make seven of its facilities no-drone zones -- and they're all nuclear research laboratories. Starting on December 29th, you can no longer fly your UAVs within 400 feet of Hanford Site in Franklin County Washingto...

Bitcoin Likely to Become ‘Niche’ Product, Says ING’s Top Economist

The chief economist for Dutch banking giant ING believes bitcoin will likely wind up as a niche financial product, according to a new report.

Uber rival Ola buys Foodpanda India to get into food deliveries

Ola, the Uber rival in India, is entering the food delivery space after it announced a deal to acquire Foodpanda’s India business from its parent company DeliveryHero. The deal will see Ola scoop up the Foodpanda India business with DeliveryHero taking an undisclosed amount of Ola stock in exchange. Undisclosed all-stock deals are usually indicative of a willingness to sell, and we… Read More

Ripple Price Technical Analysis – XRP/USD Uptrend Intact

Key Highlights Ripple price is moving higher once again and is currently above the $0.7500 support against the US Dollar. This is a short-term ascending channel forming with support at $0.7700 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might continue to move higher and it could even break $0.8400 for more gains. Ripple price is gaining pace against the US Dollar and Bitcoin. XRP/USD might continue to gain pace above the $0.9000 level in the near term. Ripple Price Trend It seems like Ripple price has completed a correction wave at $0.7000 against the US Dollar. The price has started a fresh upside wave and moved above the $0.7250 resistance. Buyers also succeeded in pushing the price above the 50% Fib retracement level of the last drop from the $0.9000 high to $0.6105 low. More importantly, the price is above the $0.7500 level and the 100 hourly simple moving average. It recently traded as high as $0.8398 and is currently correcting lower. It seems like there is a short-term ascending channel forming with support at $0.7700 on the hourly chart of the XRP/USD pair. An initial support on the downside is around the 23.6% Fib retracement level of the last wave from the $0.6005 low to $0.8398 high. However, there are many supports on the downside such as $0.7700. The mentioned $0.7700 support also coincides with the 38.2% Fib retracement level of the last wave from the $0.6005 low to $0.8398 high. A break above the channel resistance at $0.8400 is required for buyers to gain further momentum. Above $0.8400, the price could trade back towards the $0.9000 high in the near term. Looking at the technical indicators: Hourly MACD – The MACD for XRP/USD is back in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is heading higher towards the 70 level. Major Support Level – $0.7700 Major Resistance Level – $0.8400 Charts courtesy – Trading View, Kraken The post Ripple Price Technical Analysis – XRP/USD Uptrend Intact appeared first on NEWSBTC.

Blockchain Technology Aims to Disrupt Telecom Industry

Blockchain technology is breaking away from the conventional fintech sector and switching to industries like telecom and auto. The world is at the feet of Blockchain. The IoT (Internet of Things), AI (artificial intelligence), VR (virtual reality) and Big Data have some connection to the crypto realm. As far as the telecommunication industry is concerned, there’s no secret that the system is centralized, defective and obstinate because billing and distributing content can’t happen without extremely high transactional fees and fickle security around data transmission. Unlike a controlled telecom model, an open-source, decentralized system could solve the glitches and ensure a seamless end-user experience by leveraging the Blockchain to provide affordable, flexible and more secure data plans. Open-source, decentralized telecom to the rescue A controlled, centralized telecom system can’t guarantee the privacy of the user. Security breaches in the digital realm are the norm these days, not to mention that it’s easier than ever to hack a mobile network and gain access into the critical data, social security number and browsing history of telecom users. As the need for privacy increases, Blockchain technology with its decentralized, open-source model could change the telecom infrastructure. Wi-Fi sharing networks have gone mainstream. Accessing these networks can be both unsafe and expensive. Fully decentralized global Wi-Fi sharing networks Providers of 3G/4G, Wi-Fi and other cloud-based telecom services don’t have the technology to go beyond what the Blockchain can provide. Qlink, a Singaporean-based project, aims to enable new, innovative solutions to old problems in the telecom industry, such as inflexible data plans, security, speed and numerous others. “Qlink believes the development of the Blockchain industry as a whole will experience a long period of explorational development and then seek merger and integration. Public chain services with different purposes will communicate via agreements and protocols, similar to the TCP/IP in Internet industry today. The Telecom chain, as one of the foundational chain which supports all communication services, will be one of the pillar chains in the ecosystem, meaning Qlink has the most potential to integrate Blockchain based telecommunication in the near future.” – Susan Zhou, co-founder and COO of Qlink. By leveraging the potential and ingenuity of the NEO Blockchain, the end goal of the Qlink project is to develop an open-source telecommunications systems that is prepared to compete with the inflexible, centralized data plans already available in the market. Decentralized mobile network becomes hooked on IoV Sharing Wi-Fi hotspots at a global level, and getting rewarded for doing it is what Qlink stands by. Recently, the company turned its attention to the potential the IoV (Internet of Vehicles) holds. The collaboration with Cenntro Automotive Group, future plans for Qlink include combining Blockchain technology deployment and electronic vehicle manufacturing to craft an open-source, NEO-based, and fully decentralized telecom solutions for the Internet of Vehicles technologies. Qlink will be in charge of developing the Cenntro Auto Group’s decentralized telecom platform. It will include a wide variety of features, like telecom asset registration, V2X technology development, and IoV mobile data billing. The open-source nature of the new Cenntro Auto platform will create a network of seamless resources that collaborate to design, sell and purchase vehicles. To make sure the Qlink mobile network for Cenntro Auto Group is truly decentralized, the company works on launching BaseStation, its very own vehicle-mounted hardware to allow users to contribute to the expansion of its 4G network coverage. The key to a brighter future in the telecom industry: blockchain technology. Global Wi-Fi sharing is unsafe and expensive, not to mention that data plans are faulty and cannot guarantee the privacy of end users. A decentralized ecosystem could be the solution; the key to improved telecommunications packages. Qlink is scheduled to have its ICO on 22 December. The post Blockchain Technology Aims to Disrupt Telecom Industry appeared first on NEWSBTC.

The Morning After: Tuesday, December 19th 2017

Good morning! This morning we wait with bated breath for a phone screen that will heal itself, test out Amazon's adorable Echo Spot and kick off our year in review coverage.

(+) Asian Market Update – Tuesday: Ethereum on the Rise as Bitcoin Consolidates

The post (+) Asian Market Update – Tuesday: Ethereum on the Rise as Bitcoin Consolidates appeared first on CCN The post (+) Asian Market Update – Tuesday: Ethereum on the Rise as Bitcoin Consolidates appeared first on CCN

Ethereum Price Technical Analysis – ETH/USD Burst Above $800

Key Highlights ETH price made a nice upside move and broke the $800 resistance against the US Dollar. There was a break above yesterday’s pointed contracting triangle with resistance at $725 on the hourly chart of ETH/USD (data feed via SimpleFX). The pair is heading higher and it might continue to move higher towards the $850 and $900 levels. Ethereum price is surging higher against the US Dollar and Bitcoin. ETH/USD might rocket higher and move toward $850-900 in the near term. Ethereum Price Uptrend There was a solid bullish trend in place for ETH price above $700 against the US Dollar. The price after correcting lower and completing a consolidation pattern above $700 broke higher. There was a break above a few important resistances such as $700 and $725. Furthermore, there was a break above the 76.4% Fib retracement level of the last decline from the $758 high to $611 low. The current trend is super bullish above $720 and the 100 hourly simple moving average. During the upside, there was a break above yesterday’s pointed contracting triangle with resistance at $725 on the hourly chart of ETH/USD. The pair is now above the 1.236 Fib extension of the last decline from the $758 high to $611 low. These are all positive signs and means that the price might surge further towards $850 or $900. The next major resistance is around the 1.618 Fib extension of the last decline from the $758 high to $611 low around $850. As long as the price is above the $725 level, it will most likely move higher. Moreover, the 100 hourly SMA is at $702 to act as a major buy zone. On the upside, the $850 and $900 are decent target levels. Hourly MACD – The MACD is gaining pace in the bullish zone. Hourly RSI – The RSI is moving higher in the overbought levels with no sign of a correction. Major Support Level – $725 Major Resistance Level – $900 Charts courtesy – SimpleFX The post Ethereum Price Technical Analysis – ETH/USD Burst Above $800 appeared first on NEWSBTC.

Ninja Loop: The best 5 bucks you can spend on your phone?

The Ninja Loop comes in a variety of colors, and the company offers custom designs as well as "awareness" loops for fundraising.