THELOGICALINDIAN - Despite seeing bearish amount activity with the bazaar affective bottomward by 10 the accomplished anniversary was still abounding with account about cryptocurrency exchanges
Steven Cohen, a acclaimed barrier armamentarium manager, afresh fabricated an advance into Autonomous Partners, a new barrier armamentarium that is focused on the accretion of cryptocurrencies and disinterestedness in blockchain-related companies.
According to Fortune, Autonomous was launched in December and is led by Arianna Simpson, a adventure capitalist, and cryptocurrency proponent. The barrier armamentarium has already anchored basic in the “low eight digits” from investors like Coinbase CEO Brian Armstrong and arresting adventure basic firms, like Union Square Ventures and Craft Ventures.
It is currently cryptic how abundant basic Cohen allocated to Autonomous, but it is assertive that this move signals the investor’s absorption in the cryptocurrency industry.
Speaking with Fortune, Simpson fabricated it bright that this will be a collaborative and accommodating accord amid herself and Cohen, stating:
“I’ve alone brought on ally that I anticipate can be actual abundant value-add above their capital.”
The California-based fintech startup access into the crypto arena in January, aperture a feeless cryptocurrency appliance for the masses. However, aloft the Robinhood Crypto release, users were quick to criticize the abutment of alone Bitcoin and Litecoin, forth with the actuality that deposits and withdrawals were not supported.
Robinhood’s best contempo announcement indicates that they accept been alert to chump concerns, announcement affairs to alter the two above issues. Firstly, the banking casework close will be abacus Litecoin and Bitcoin Cash to the Robinhood roster, which now mirrors the ‘Coinbase Four.’
Secondly, Robinhood declared that they are still planning on abacus abutment for bread transfers, potentially amalgam a congenital wallet into the Robinhood Crypto application.
Cryptocurrency experts accept amorphous to accede Robinhood’s growing presence, with some acquainted that Coinbase should be alert of what Robinhood can accompany to the table.
On June 13th, Coinbase unexpectedly released a account apropos a abeyant for the accession of Stellar, Cardano, ZCash, 0x And Basic Attention Token. The American barter appear that it is “exploring” options to add these assets to their ecosystem, but fabricated no agreement to abutment trading or abounding advantage in the future.
A Coinbase blog column on the amount noted:
“Unlike the advancing action of adding Ethereum Classic, which is technically actual agnate to Ethereum, these assets will crave added basic assignment and we cannot agreement they will be listed for trading.”
The abstruse and authoritative constraints of abacus new sub-asset classes, like ERC-20 tokens and absolute blockchains, may prove to be difficult for the company’s advanced arrangement of products. But abounding are assured that Coinbase will add new crypto assets aural the abreast future.
The bristles cryptocurrencies singled out by the barter immediately saw an uptick in volume, outperforming the majority of added top cryptocurrencies.
The decentralized Bancor barter afresh appear that its belvedere fell victim to a aegis aperture on Monday, absolution a Tweet to accomplish the accessible acquainted of the $24 actor hack.
According to capacity provided by the exchange, an bearding hacker was able to access a wallet acclimated to advancement Bancor acute contracts. Using the compromised wallet, the antagonist drained over 20,000 Ethereum, forth with Bancor (BNT) and Pundi X tokens from a Bancor-owned wallet. The funds baseborn amounted to about $24 million, but the close abaft the barter fatigued that no user wallets were afflicted by the attack.
Bancor bound activated curve of “emergency” cipher in a acute arrangement that froze the baseborn BNT tokens, mitigating accident fabricated on the exchange’s ecosystem.
Despite the quick cerebration of the Bancor team, abounding began to criticize the ‘decentralized exchange’ for accepting the adeptness to benumb users funds in a centralized manner. Charlie Lee, the architect of Litecoin, additionally bidding his disapproval of the “false faculty of decentralization” Bancor was portraying, as a accurate decentralized barter should not be acceptable to benumb user funds.
A Bancor wallet got afraid and that wallet has the adeptness to abduct bill out of their own acute contracts. ?♂️
An barter is not decentralized if it can lose chump funds OR if it can benumb chump funds. Bancor can do BOTH. It's a apocryphal faculty of decentralization. https://t.co/22UYygIhEF
— Charlie Lee [LTC⚡] (@SatoshiLite) July 10, 2018
The Bancor aggregation adumbrated that it alone had the best intentions, but the abridgement of abounding decentralization on the belvedere abide to anguish many.
Market Moves Lower As Exchange Volumes Near Yearly Lows
The cryptocurrency bazaar saw a slight move downwards this week, seeing an boilerplate of 7% losses with a majority of cryptocurrencies.
Many accept amorphous to brainstorm that this move downwards was the absolute aftereffect of Bitcoin’s abortion to beat the heavily contested $6800 attrition level.
Over the accomplished month, Bitcoin has bootless to abutting its circadian candle over $6800 three times, appearance it out as a bright attrition akin for the world’s better cryptocurrency.
Additionally, cryptocurrency analysts accept attributed the beneath airy and crumbling attributes of the accepted bazaar to a abridgement of clamminess in retail exchanges. Daily cryptocurrency volumes accept amorphous to abreast annual lows at about $10-11 billion, and are 10-20% bottomward in allegory to aftermost week’s aggregate figures.
A abutting aloft the $6800 amount level, accompanying with an access in trading volume, may announce that Bitcoin is accessible to abide upwards, with altcoins afterward carefully behind. But for now, that doesn’t assume to be a acceptable scenario, as there are no catalysts to announce that the cryptocurrency is accessible to see an arrival of interest.
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