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🗞 Daily Crypto News, February, 28th 💰

76
5 years ago
in#bitcoin

  • Coronavirus Hits US Stocks, Bitcoin Climbs, Haven Status Unclear ;
  • Ether Futures Volume on FTX Hit Record Highs ;
  • Binance Joins Blockchain Network for Cross-Industry KYC Data Sharing ;
  • Steven Seagal Charged by SEC for Promoting 2018 ICO ;
  • Ethereum's Buterin Finds Bitcoin's Stock-to-Flow Model Useless ;
  • 🗞 Daily Crypto Calendar, February, 28th 💰
  • STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 Coronavirus Hits US Stocks, Bitcoin Climbs, Haven Status Unclear

The spreading coronavirus sowed a new bout of fear among investors, triggering a stock market sell-off and flight to safe-haven assets like gold and U.S. Treasury bonds, with 47 countries now reporting infections amid widespread reports of travel cancellations, shipment delays and business interruptions.

U.S. stocks fell for the sixth straight day, Treasury yields slid to a record low and gold prices were little changed close to a seven-year high. Bitcoin’s price climbed 1.4 percent to $8,902, rising along with popular cryptocurrencies including ether.

Analysts for the Wall Street firm Goldman Sachs warned Thursday in a report that the virus could disrupt factories’ supply chains, damp demand for exports and ultimately stunt economic output in China, the U.S. and elsewhere. The firm warned the impact of the contagion could wipe out any growth in the combined profits of companies in the Standard & Poor's 500 Index.

🗞 Ether Futures Volume on FTX Hit Record Highs

Hong Kong-based crypto derivatives exchange FTX saw record volumes in ether (ETH) futures on Wednesday amid a sell-off in the cryptocurrency’s price.

Daily trading volume on the nine-month-old exchange jumped to a lifetime high of $245 million, marking a 51 percent increase from Tuesday’s volume of $162 million, according to Skew Markets. The previous record high of $189 million was reached on Feb. 20.

While volumes on FTX spiked, the cryptocurrency’s price fell by 10 percent from $251 to $215 to hit the lowest level since Feb. 8.

🗞 Binance Joins Blockchain Network for Cross-Industry KYC Data Sharing

Top cryptocurrency exchange Binance has partnered with public blockchain protocol Shyft Network as it readies itself to comply with Financial Action Task Force (FATF) regulations.

The Shyft Network was designed to provide a decentralized solution for crypto industry players to fulfill global compliance standards, including the FATF’s “travel rule.”

In a statement shared with Cointelegraph on Feb. 27, Binance’s chief compliance officer Samuel Lin said that, until the creation of the Shyft Network, there was no existing infrastructure by which firms could comply with the new FATF rules.

🗞 Steven Seagal Charged by SEC for Promoting 2018 ICO

The Securities and Exchange Commission (SEC) has charged actor Steven Seagal for promoting an initial coin offering (ICO) without disclosing that he was paid for it. He was ordered to pay back over $330,000 to the commission.

In March 2018, Steven Seagal was contracted by ICO project “Bitcoiin2Gen” (B2G) to promote the sale on his social media channels, as well as appearing as a brand ambassador in the project’s marketing materials.

While he was promised $250,000 in cash and $750,000 in B2G tokens, the Feb. 27 disclosure by the SEC maintains that he only received $157,000 from his promotional deal.

🗞 Ethereum's Buterin Finds Bitcoin's Stock-to-Flow Model Useless

Ethereum (ETH) co-founder Vitalik Buterin has no love for the stock-to-flow model when it comes to predicting the price of the world's most popular cryptocurrency, bitcoin (BTC). But some believe this dislike has roots much closer to home.

Sharing two article titles on the possible effect of coronavirus outbreak on BTC price, Buterin commented that "95%+ of articles of the form "event X will make crypto go (up | down)" are post-hoc rationalized bullshit."

While the Bitcoin evangelist at Kraken, Pierre Rochard, thought that the stock-to-flow model may be a part of the other 5%, Buterin very much disagreed.

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🗞 Daily Crypto News, February, 28th💰

  • Bitcoin (BTC), Ethereum (ETH), KuCoin Shares (KCS), TRON (TRX)

"All users will be able to obtain a reserved share of POL by locking up BTC, ETH, KCS and TRX on KuCoin."

  • Cardano (ADA)

"On Feb 28, Todd Brenn, will be holding a local #CardanoCommunity Meetup in Akron, Ohio (USA)."

  • Siacoin (SC)

"We are partnering with @gitcoin to host a virtual hackathon from Feb 28th to Mar 15th:"

  • Ferrum Network (FRM), VITE (VITE)

First AMA of co-AMA series with Ferrum network at 14:00 (UTC) in Vite Telegram.

  • Cosmos (ATOM)

"Got plans Friday night? @chjango, together with @BinanceAmerica will be doing an AMA, sponsored by @Cobo_Wallet."

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STEEM Trading Update by my friend @cryptopassion

Here is the chart of my last analysis :

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Here is the current chart :

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The bounce triggered by the touch on the support line at 0.155$ is still in progress. The BTC helped us on that move by doing a bounce itself from 8500$ support line. However, we start to have difficulties to continue the bounce on the BTC so I'm afraid that it could stop our bounce on the STEEM aswell. 0.19$ resistance line is still far so I'm not expecting that we are able to touch that resistance in 1 phase.

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Last Updates

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5 years ago
vlemon76
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