Daily Berminal Brief (8/31/18): Bitcoin and Other Cryptocurrencies on the Edge as CBOE Bitcoin…

The State of the Market: It has been a fantastic week for cryptocurrency and investors are hopefully that the good vibes will continue. Bitcoin leapt above $7,100 and remains fairly bullish from a technical standpoint. At the moment, the entire community is hopeful that the market doesn’t head south after the expiration of CBOE Bitcoin Futures today at 11 AM Eastern Standard Time (EST). In other news, Square won a patent for developing a network to process cryptocurrency payments and Yahoo Finance announced plans to add cryptocurrency trading to their desktop platform and an IOS app. These are certainly monumental developments in the cryptocurrency hemisphere and show that the path to greater adoption remains crystal clear. Currently the cryptocurrency market capitalization stands at $225 billion.

1. Yahoo Finance, yesterday, reported its partnership with Tradelt to add a new feature on its platform that allows cryptocurrency trading. The feature added on its iOS mobile app is said to support four assets in its in-app trading. The assets supported were Bitcoin, Ethereum, litecoin, and Dogecoin. This service would also be available on Yahoo Finance desktop version. Additionally, Yahoo finance announced it would soon take the services to be functional in desktop, Android, and mobile web though it has not mentioned the platform where the iOS app will conduct the crypto trading. (Read More.)

2. Vitalik Buterin, the creator of Ethereum showed up at a closed-door Bitcoin Cash meeting in Bangkok and was denied entry. It is not clear why Vitalik tried going to the meeting. According to Jihan Wu, the CEO of Bitmain, he was invited to come and have a brief chat. In that case, it is not clear why he was denied entry. Vitalik is yet to tweet on this incident. Craig Wright, whom both Vitalik and Jihan has spoken again in past, was also present at the meeting. (Read More.)

3. As Bitmain is planning its massive $15 Billion IPO in the Hong Kong Stock Exchange, key engineer Yang Zuo Xing is leaving the company. Yang was instrumental in the development of popular ASIC miners, S7 and S9. At least three Bitmain teams have left the company in recent weeks, and one of them is in the market, seeking investment to rival Bitmain. Yang is now the Chairman of Shenzhen Bit Microelectronics Technology, which is currently developing WhatsMiner M10V1 with a whopping hashrate of 33 TH/s. (Read More.)

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