As usually, we’re here to present you the latest and most important cryptocurency news worldwide. If you’ve missed yesterday’s news, you may check them here: Daily Cryptocurrency News – 27th September 2018
Bittrex will add a Bitcoin Cash USD market
Bittrex, one of the oldest cryptocurrency exchanges, decided to add a Bitcoin Cash (BCH) market on October 3rd 2018. Only the account created before September 4th are available to USD trading. More details can be found in their tweet:
On October 3 we’re launching a US dollar (USD) market for Bitcoin Cash (BCH).
— Bittrex (@BittrexExchange) September 27, 2018
U.S. Federal Judge recognize cryptocurrencies as commodities
A U.S. Federal Judge,Rya Zobel, recognized in a case cryptocurrencies as being commodities. This decision was taken due to the fact that Bitcoin is seen as a commodity in USA, though its taxed as a property. As a result, the company My Big Coin Inc. now lost the process started by their investors. They now have to refund more than $6 million USD to their investors.
This is an interesting decision coming from a Federal Judge, as we wrote an article yesterday about it called ‘ Can Bitcoin be viewed legally as a commodity?‘
Litecoin trading added on SFOX
Litecoin, the 7th ranked cryptocurrency according to CoinCodex, was recently added to SFOX. SFOX is declared by CrunchBase as being “a cryptocurrency prime dealer that provides professional traders and institutional investors higher returns when trading large volumes, through smart routing and a global integrated order book”. The decision could make Litecoin available to more institutional traders and could increase the Litecoin adoption and market attention. The company claimed that the main reason for why they added it is because they wanted to increase Litecoin’s adoption – by making it available to their traders. You can read their blogpost here.
Even more, because it matters to know what you’re trading, they actually wrote an awesome guide about Litecoin and how its different than Bitcoin or Bitcoin cash. You can also read that on SFOX’s Medium.
Ethereum Classic dApps Popularity Grows two times in two months
According to data collected by Dapp Direct – a website focused on offering blockchain statistics – the amount of ETC locked in the platform double from 2,000 ETC in mid-July to over 5,500 ETC by September. These are great news for the Ethereum Classic community as the decentralized applications field is slowly growing. Ethereum Classic popularity grow this year, as the famous exchange Coinbase announced that they will list ETC soon. For more details about ETC dApps, check out CryptoBriefing’s article.
Compound startup let’s you earn interest by lending cryptocurrency
Compound is a startup funded by Coinbase & Andreessen Horowitz. The platform allows its users to borrow ETH, 0x, ZRX, BAT and REP to short it – or lend them trough their platform and gain interest. Compounds wants to deliver liquid money markets for cryptocurrencies – everything made trough special algorithms settings interest rates and letting users borrowing or short-selling coins. More details about Compound can be found on TechCrunch.
New Ethereum and Bitcoin Price Predictions
Today, two important entrepreneurs, billionaires and cryptocurrency enthusiasts expressed their opinion with the current cryptocurrency market. Firstly, there’s Tom Lee which predicted that Ethereum can reach $1,900 by the end of 2019. The reason that he believes this is ‘based on historical performances’. His opinion sounds really good for all the Ethereum investors and fans – but first Ethereum needs to solve its scalability issues.
Mike Novogratz, among the most known Wall Street personalities predicted that Bitcoin will spike in price at the beginning of next year. He think a 30% spike in price is possible, though it depends a lot on the institutional interest in the cryptocurrency market. As he mentioned, the rally could start IF the institutions will ‘start buying a lot’. Also, in his prediction declared that the 30% rally could come by the end of 2019.
More details about this can be found below:
Image source: Wealth Management.com
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