GDPR Could Hinder Blockchain Innovation, Warns EU Body

The EU Blockchain Observatory and Forum has warned that the General Data Protection Regulation law that went into effect a little over two months ago could hinder innovation in the blockchain space. According to the European blockchain body, this is because of the lack of legal clarity between blockchain technology and the GDPR law, whose aim is to protect individual data rights as well as facilitate the free movement of personal data in the single market. “As long as the legal framework around personal data and blockchain remains unclear, entrepreneurs…

Crypto Downtrend Continues With Bitcoin at $7,680 in Weak Recovery Attempt

On August 1, the valuation of the crypto market fell to $270 billion as the price of Bitcoin declined by more than 7 percent from $8,300 to $7,500. Low Volume Over the past 24 hours, Bitcoin and other major digital assets have slightly rebounded, adding $3 billion to the valuation of the crypto market. However, the expected short-term recovery from yesterday’s $30 billion drop failed to add a significant amount of volume and demand to the market, and another drop is more likely than a recovery in the next few…

Bitcoin Price Watch: BTC/USD Rebounding Towards $7,850 Barrier

Key Points Bitcoin price traded to a new low at $7,426 and is currently recovering against the US Dollar. There is a crucial connecting trend line formed with support at $7,350 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair may perhaps move higher towards the $7,850 resistance and the 100 hourly SMA. Bitcoin price is rebounding from the $7,426 low against the US Dollar. BTC/USD is likely to correct further higher towards the $7,850 resistance in the near term. Bitcoin Price Analysis Yesterday, we…

Ethereum Classic Price Analysis: ETC/USD Turned Bearish?

Key Highlights Ethereum classic price failed to hold an important support at $16.25 and declined against the US dollar. There is a major bearish trend line formed with resistance at $15.65 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair remains at a risk of more losses as long as it is below the $15.70 and $16.00 resistances. Ethereum classic price is in a bearish zone against the US Dollar and Bitcoin. ETC/USD must move back above the $16.00 resistance to start a recovery. Ethereum…

‘Keep NEO One!’ Investors Protest a Proposal to Make Crypto Coins Divisible

Tokens on the blockchain protocol neo may be indivisible – but it’s becoming apparent that its community is not. Perhaps ironically, it’s the very notion of indivisibility that has proved contentious to the coin’s investors and users in recent weeks. More specifically, a Github proposal to change the structure of the NEO token – one of two tokens native to the network (GAS is the second) – has the project’s token holders up in arms. Authored by neo co-founder Erik Zhang, the post ideates a new economic model for the upcoming…

Ripple Price Analysis: XRP/USD’s Buy Zone Near $0.4350

Key Highlights Ripple price held the $0.4270 support and recovered nicely against the US dollar. There is a short-term connecting bullish trend line in place with support at $0.4370 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently declining, but it remains nicely supported near the $0.4350 and $0.4270 levels. Ripple price jumped higher yesterday against the US Dollar and Bitcoin. XRP/USD is placed in a positive zone as long as it is above $0.4270. Ripple Price Trend After a major decline below…

Ethereum Price Analysis: ETH/USD Recoveries Capped Near $428

Key Highlights ETH price declined further below $415.00 and traded as low as $407.95 against the US Dollar. There is a crucial bearish trend line in place with resistance near $428 on the hourly chart of ETH/USD (data feed via Kraken). The pair has to move above the $428 and $430 resistance levels to gain upside momentum. Ethereum price is under pressure against the US Dollar and bitcoin. ETH/USD is correcting higher towards important resistances near $428-430. Ethereum Price Upside Hurdles There were further losses in ETH price below the…

Bitcoin (BTC) Price Watch: Bulls Defending Correction Level

Bitcoin Price Key Highlights Bitcoin price is still in correction mode but appears to be finding support at the nearest Fib. A bounce from current levels could take it back up to the swing high and beyond. A move lower, on the other hand, could indicate that a deeper pullback from the uptrend is in order. Bitcoin price has pulled back from its rally and could be due to resume the uptrend if the 38.2% Fib holds as support. Technical Indicators Signals The 100 SMA is still above the longer-term…

Former Beverage Company Long Blockchain Corp. Receives Subpoena From SEC

Former drinks manufacturer-turned-blockchain development company Long Blockchain Corp. has been issued a subpoena by the U.S. Securities and Exchange Commission (SEC), Bloomberg reported August 1. During a filing today, the company reportedly said that the subpoena, originally dated July 10, requested certain documents from Long Blockchain Corp. The firm declined to provide further details, saying: “The company is fully cooperating with the SEC’s investigation. The company cannot predict or determine whether any proceeding may be instituted by the SEC in connection with the subpoena or the outcome of any proceeding…

Australian State Government Invests in Crypto Startup to Promote Regional Tourism

The state government of the Australian province of Queensland will issue a grant to a crypto startup as part of over $8.3 million of innovation funding, according to an official announcement published August 1. According to the government statement, the TravelbyBit digital currency payments platform for the travel and tourism industry is one 70 companies that will receive Advance Queensland Ignite Ideas funding, which supports entrepreneurs in Queensland in developing their businesses. The company’s objective will be to boost the number of tourists to Central Queensland through selling travel offers…