Chinese City Starts a $1.5 Billion Fund to Promote Public Blockchain Projects

Nanjing, Jiangsu’s capital, is committed to investing in public blockchain projects and overall token economy. The capital of this Chinese province put together a 10 billion yuan ($1.5 billion) fund in a blockchain investment fund. A Beijing-based alliance, Zhongguancun Blockchain Industry Alliance, is teaming up with Nanjing City to launch this blockchain investment fund of $1.5 billion. The alliance, formed by government research institutes and blockchain companies, revealed the bold initiative at the first Industrial Public Chain Summit (IPCS). Among the high-level government official attendees, there was the Deputy Secretary…

G20 Forum Shelves Deadline for ‘Very Specific Recommendations’ on Crypto

Cryptocurrencies will continue to receive a broadly hands-off approach from the G20 until at least October, a meeting of the forum confirmed July 21-22. A summary of interim decisions made by the dedicated Finance Ministers & Central Bank Governors (FATF) group sees any hard-and-fast regulatory steps regarding cryptoassets remain absent. The results follow a four-month consultation period which FATF enacted during a previous gathering in March. At the time, representatives said they were obliged to create what they called “very specific recommendations” for how to approach the cryptocurrency sphere at…

Bitcoin Price Hits Two-Month High as Dominance Rate Spikes

Bitcoin (BTC) price clocked a two-month high of $7,820 on Bifinex today and looks set to extend gains further, a key cryptomarket gauge indicates. CoinMarketCap’s bitcoin dominance rate, an indicator that tracks the percent of the total cryptocurrency market capitalization contributed by the leading cryptocurrency, rose to 46 percent today — the highest level since December 20, adding credence to BTC’s 20 percent rally seen in the last seven days. To start with, a rise in the BTC dominance rate essentially means the premiere cryptocurrency is more in demand compared to…

Cardano Price Analysis: Dips in ADA/USD Remains Supported

Key Highlights ADA price started a nice upside move after testing the $0.1550 support against the US Dollar (tethered). There was a break above a crucial bearish trend line with resistance at $0.1650 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair is currently placed above the 100 hourly simple moving average and the $0.1700 support. Cardano price is gaining momentum against the US Dollar and Bitcoin. ADA/USD is likely to move further higher above the $0.1800 level in the near term. Cardano Price Analysis…

Bitcoin Price Watch: BTC/USD Poised to Test $8,000

Key Points Bitcoin price traded higher and broke a major resistance at $7,580 against the US Dollar. There was a break above a connecting resistance trend line at $7,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to move further higher towards the $7,800 and $8,000 resistance levels. Bitcoin price is slowly gaining bullish momentum above $7,500 against the US Dollar. BTC/USD is likely preparing for more gains towards the $8,000 barrier. Bitcoin Price Analysis Bitcoin price was rejected many times near…

Meet DOJ’s Crypto Czar: Expert Take

In our Expert Takes, opinion leaders from inside and outside the crypto industry express their views, share their experience and give professional advice. Expert Takes cover everything from Blockchain technology and ICO funding to taxation, regulation and cryptocurrency adoption by different sectors of the economy. If you would like to contribute an Expert Take, please email your ideas and CV to george@cointelegraph.com. The indictment of twelve Russian intelligence officials may be the most vivid illustration yet of how cryptocurrencies have been used for criminal purposes to “Attack America in new…

Ripple Price Analysis: XRP/USD Eyeing Upside Break above $0.4650

Key Highlights Ripple price found support near the $0.4300 level and recovered a few points against the US dollar. There was a break above major connecting bearish trend line with resistance at $0.4500 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently attempting an upside break above $0.4620 the 100 hourly simple moving average. Ripple price is trading with a positive bias against the US Dollar and Bitcoin. XRP/USD must break $0.4620 and $0.4650 to accelerate higher in the near term. Ripple Price…

An $8 Million ICO Ran Out of Tokens. What’s Next Is Anyone’s Guess

“Scarcity” may be a crypto buzzword, but “shortage” has hardly made the footnotes – until now. In early July, the developers behind U Network, a blockchain publishing protocol valued at around $8 million, abruptly announced that it had run out of its reserve of UUU crypto tokens, and that it planned to buy back some of the supply it distributed to early investors through its airdrop in February. At the start of the project, U Network established a 10 billion UUU cap on its token supply (worth approximately $15.6 million), setting aside…

An $8 Million Airdrop Ran Out of Tokens – What’s Next Is Anyone’s Guess

“Scarcity” may be a crypto buzzword, but “shortage” has hardly made the footnotes – until now. In early July, the developers behind U Network, a blockchain publishing protocol valued at around $8 million, abruptly announced that it had run out of its reserve of UUU crypto tokens, and that it planned to buy back some of the supply it distributed to early investors through its airdrop in February. At the start of the project, U Network established a 10 billion UUU cap on its token supply (worth approximately $15.6 million), setting aside…

Ethereum Price Analysis: ETH/USD Facing Key Resistance at $470

Key Highlights ETH price is consolidating in a range with a crucial resistance at $470 against the US Dollar. There was a break above a key bearish trend line with resistance near $452 on the hourly chart of ETH/USD (data feed via Kraken). The pair must break the $470 resistance to continue higher towards $490 and $500 in the near term. Ethereum price is slowly moving higher against the US Dollar and Bitcoin. ETH/USD is currently facing a strong resistance near the $470 level. Ethereum Price Upside Hurdle After a…