At the time of writing, the XLM course is $ 0.25. "Bloody Sunday" did not pass by and Stellar - for 24 hours of crypto currency lost 6.35%. In comparison with BTC, XLM has grown by 500% over the year, compared to ETH - by 1000%. After several months on the eighth line, XLM managed to get higher by one position.

The closest to the Stellar Crypto currency is Cardano (ADA), ranked eighth by market capitalization. This crypto currency also showed high productivity, especially in connection with the launch of TestNet KEVM. The difference in capitalization between XLM and ADA honey is only $ 7 million, which, naturally, fuels competition between them.

What Triggered the Fall and What Lies Ahead?

Many analysts and mainstream media outlets including Bloomberg and WSJ have attributed the recent decline in the bitcoin price from $7,500 to $6,700 to the hacking attack suffered by Coinrail, a minor cryptocurrency exchange in South Korea. However, the reasoning behind the attribution of the latest correction to Coinrail is incorrect, given that Coinrail is a small exchange with a low daily trading volume used by a small portion of investors in South Korea. Bithumb, UPbit, and Korbit remain as the three biggest cryptocurrency trading platforms in South Korea, and Coinrail is not considered as a major exchange. Analysts tend to apply any negative event or news to justify the price drop in bitcoin and the entire cryptocurrency market because for general readers and investors, it is difficult to accept the fact that the market moves based on supply and demand, and that the price of bitcoin has fallen by such a large margin overnight without a solid trigger. $6,700 Isn’t New For many weeks, prominent analysts and cryptocurrency researchers including Willy Woo have emphasized that the downward trend of bitcoin is simply too strong to be influenced by positive Relative Strength Index (RSI) and moving averages. In late May, Woo noted that it is likely for bitcoin to experience a slow bleed out to the higher end of the $6,000 region and eventually make its way down to $5,700. Woo explained: “So in summary my best guess is slowish bleed down to $6,800, then a steeper slide to $5,700, then a levelling out of the drop. then a flat zone. This is an educated guess based on volume profile and fundamental data framing the rate of movement.” He further emphasized that the price movement of bitcoin is nearly identical to its correction in 2014, the biggest correction in its history. If the chart of bitcoin from 2014 and mid-2018 are placed side by side, price movements seem unrealistically similar. “This is like 2014 but Y-axis is just 20x. In some ways the markets are more reliable to forecast in 2018 than in 2014. Data on fundamentals should map more reliably to price as we ain’t in the early phase of a few whales randomly pushing things around anymore,” added Woo. The price movement of bitcoin in mid-2018 is similar to the 2014 correction because both periods suffered a correction triggered by retail investors or individual traders. While major financial institutions such as NASDAQ, Goldman Sachs, JPMorgan, and Morgan Stanley have announced their entrance into the cryptocurrency sector and the demand from institutional investors have increased significantly, the amount of capital coming from institutional investors currently in the cryptocurrency sector is close to zero.

https://btcearn.ru/bitcoin-price-fell-11-in-24-hours-what-triggered-the-fall-and-what-lies-ahead/

No longer a choice, the fall of the Italian economy will kick off cryptocurrency's global domination

New York??? not sure how they plan to have long term sustainability. NY State, outside of CA, has some of the worst company taxes and restrictions. Perhaps they can get State subsidies or favorable Tax arrangement from the State for opening a New company but long term NY is going to eat them alive. Compare this to China and other Asian Countries that will not only offer nearly free Electricity but will subsidize heavily these mining upstarts, of course the downside is these Countries will permanently own part, if not all, of your company.

Wish them all the best but NY is neither company friendly nor energy friendly. My guess is they will either have to shut down or move within 5 years, especially if they do well, due to NY coming up with a new "Crypto Mining Tax" in order to help fund the bankrupt NY Gov.

Eric van Miltenburg, the Senior VP of Ripple, believes that South Korea needs to relax some of its more stringent cryptocurrency laws. He made his views known in a recent phone chat with The Korea Times. He also said the emerging digital currency landscape could propel the country into becoming a global economic powerhouse.
Encouraging the Nascent Cryptocurrency Market

Miltenburg stated the need for cryptocurrency regulations that promoted the market rather than stifling its growth, saying:

    We think it needs to be a regulation that bounces, that protects consumers without stealing or prohibiting innovation.

He urged the South Korean government not to be one of those countries who only focus on the negative aspects of emerging technologies. In September 2017, ICOs were banned in South Korea followed by a raft of other strict cryptocurrency regulations.

    We’ve seen that in other countries and in other technologies where you found a bounce. Frankly, if you think back to the early age of the internet, some people only looked at the negative aspects of the internet saying we should shut it down for a while until we figure out what’s going on, and what’s good and what’s bad.

Miltenburg went to say that the country would benefit more from identifying “specific use cases and applying regulations in areas that would allow protection for users.”
South Korea Stands to Gain a Lot from Blockchain and Cryptocurrency

Since the ICO ban, blockchain startups have moved their projects to friendlier countries like Singapore and Switzerland. Miltenburg believes that South Korea would do well to stem the tide by reversing the ICO ban. The country boasts the third-largest cryptocurrency market by volume, but its strict regulations might be standing in the way of even more significant growth.

Thus, in recent months, the countries legislature has taken steps to reverse the ICO ban. Earlier in June, the country’s apex court also ruled that Bitcoin is an asset. Miltenburg believes South Korea can use the cryptocurrency market as a springboard to becoming a dominant force in the global financial market.
Ripple – Korea University Partnership

Miltenburg also spoke about the Ripple collaboration with universities across the globe including the Korea University. The institution already has its blockchain security study center with Ripple as its partner. The center will focus on studying the security of blockchain technology algorithms.

According to Miltenburg:

    We are looking for schools already involved in blockchain that have some professors that have seen the potential of [the] blockchain. We wanted to help accelerate what those faculties and administrators are trying to do.

http://bitcoinist.com/ripple-vp-calls-for-more-cryptocurrency-friendly-regulations-in-south-korea/

In an effort to pin Bitcoin’s price drop on anything other than sellers overpowering buyers, mainstream and cryptocurrency-focused media have been eager to blame Coinrail — an irrelevant and incredibly minor cryptocurrency exchange in South Korea. However, the hack of Coinrail is not to blame for the flash crash. Market manipulators and panic sellers are.
Panic Selling

After a prolonged period of sideways trading, market makers in the cryptocurrency space decided to slice a $42 billion chunk off the total market capitalization over the weekend. Bitcoin is now down more than 50 percent on the year.

The vast majority of mainstream and cryptocurrency-focused media has pinned the collapse on the low-profile hack of Coinrail — a borderline irrelevant exchange ranked 90th by trade volume that most readers had never previously heard of.

Coinrail is not to blame. Panic sellers are.

Stephen Innes, head of Asia Pacific trading at Oanda Corp. in Singapore, agrees, telling Bloomberg:

    This is ‘If it can happen to A, it can happen to B and it can happen to C,’ then people panic because someone is selling. The markets are so thinly traded, primarily by retail accounts, that these guys can get really scared out of positions. It actually doesn’t take a lot of money to move the market significantly.

Low liquidity is indeed one of the cryptocurrency market’s biggest problems, as it allows as little as one account to dramatically manipulate the price of bitcoin, or other cryptocurrencies, by throwing around 1000 BTC, sparking a wave of panic selling from individuals who honestly believe there has been some fundamental change in the cryptocurrency itself.

No Buyers

More likely than not, the current decline in Bitcoin’s price is merely a move from unchecked market manipulators who can, for all intents and purposes, drive down the price at the push of a button. Those same accounts can easily drive it right back up — as seen on April 12, when the price of bitcoin shot up over $1000 in the blink of an eye.

Meanwhile, a trip to the r/CryptoCurrency subreddit on popular social media website Reddit indeed shows mass despair as more and more traders get shaken out of the market.

One post from u/shootermgavin_crypto titled “I’m Done” reads:

    24/7 Market

    70% down….

    It’s been emotional ladies and germans but I am officially tapping out.

    Will leave 5k in this sh!tshow and see where it goes but the trading…no more, can’t do it. Don’t have the emotional fortitude.

    God speed sailors

u/shootermgavin_crypto isn’t alone. With each manipulative red candle, big-money investors continue to explore just how low they can buy bitcoin while retail traders lose all hope.

http://bitcoinist.com/bitcoin-price-panic-sellers-manipulation-coinrail/

Well-known analyst Tone Vays has likened Bitcoin to how it was in 2014, as prices hit multi-month lows of $6668.
‘It’s Been A Long Time’

Uploading technical forecasts for BTC/USD on social media Sunday, Tone Vays — who has produced multiple warnings about a bear market for the leading cryptocurrency in previous months — reiterated his “most optimistic” bear target below $5000.

“It has been a long time since I’ve posted a $BTCUSD chart like this,” he wrote in an accompanying commentary, continuing:

    …My most optimistic Bearish (Bitcoin) target remains at $4,975 first half of July. I will update my % expectation on future targets once it’s hit.
A Torch For 2014

Traders appeared surprised at the extent of Bitcoin’s sudden fall over the weekend, while other cryptocurrency industry figures claimed news that a South Korean exchange had lost funds to hackers was being oversold by markets.

For Vays, too, the hack has little effect on long-term fundamentals — which for him constitute a repeat of Bitcoin’s behavior after it hit previous highs in late 2013.

Not just price, but relative strength index (RSI), moving average convergence/ divergence (MACD), and Stochastics confirm the trend and “put the (Bitcoin) outlook identical to late (August) 2014,” he said.

Initial reactions to the reemergence of the prospect that Bitcoin could fall below $5000 for the first time since October 2017, meanwhile, focused on mainstream perception.

As publications including Bloomberg and The Wall Street Journal report the exchange hacking narrative had caused mass sell-offs, Vays assumed that a further “halving” of prices would see fresh calls that Bitcoin, as one Twitter user described the situation in 2014 after Mt. Gox, “has no future.” Vays added:

    Just wait a month or two, if BTC is half the price it is now, you will hear all of that again.

http://bitcoinist.com/tone-vays-bitcoin-hitting-4975-optimistic-bear-market-price-outlook/

With the middle of 2018 almost upon us, it has become incumbent on experts and commentators to offer revised Bitcoin price predictions. At the start of the year, the consensus was that the number one cryptocurrency would reach even greater heights. However, BTC prices have declined from its record-setting highs of $19,500 in mid-December 2017 to hovering around the $7,700 mark.

BITCOIN WILL APPROACH THE $15,000 MARK BY DECEMBER 2018
Finder, a financial comparison platform, released a Bitcoin forecast that said BTC prices would cross the $30,000 mark by December 2018. Six months into the year, the platform seems to have revised its predictions with a new report released in June. According to the latest forecast figures, Bitcoin will end the year trading at $14,638. This new figure predicts an almost 100 percent increase in BTC price based on its current trading value.



The Finder cryptocurrency prediction panel consists of 10 members with experience in the digital currency and blockchain industry. The figures published by Finder are an extrapolation of the individual predictions of each panelist. Examining the figures published by Finder, the lowest end-of-year BTC price prediction was $5,778 while the highest was $25,000. Some of the members of the panel include James Lynch of Castlecoin, Aaron LePoidevin of Every Capital, and Kunal Patel of the Gerson Lehman Group.

Speaking to The Independent, David Hanson, CEO of Ultra, said that he expected Bitcoin to continue hovering between $6,500 and $8,500. According to Fundstrat analyst, Robert Sluymer, Bitcoin’s bottom price is $7,000. Thus, with an influx of institutional investors, the price of BTC is expected to increase. Many experts and commentators share this notion that the entry of institutional investors into the market will drive up prices. In 2018, people like Tom Lee, also of Fundstrat, Dan Morehead (Pantera CEO), and Iqbal Gandham of eToro have expressed similar views.

EOS TO SEE THE HIGHEST GAINS
The Finder cryptocurrency prediction survey highlighted EOS as the cryptocurrency to watch. The results of the survey indicate a predicted price of $38.25 at the end of the year. Based on the current value of Eos tokens, this price estimate is a 200 percent increase. According to Hanson, EOS is generating a great deal of interest in the market, especially with the hype surrounding its mainnet launch. In a recent Weiss rating report, EOS was also identified as one of the best altcoins in the market.

http://bitcoinist.com/bitcoin-price-prediction-expect-price-to-double-by-the-end-of-2018/

HUOBI VS. BINANCE: WHO WILL INVEST MORE IN BLOCKCHAIN START-UPS?

As blockchain technology continues to gain mainstream acceptance, initiatives to foster the development of promising projects have begun to emerge. These initiatives — called blockchain accelerators or incubators — are becoming increasingly popular, with key figures in the tech world getting involved. Now, popular cryptocurrency exchanges Binance and Huobi are the latest to throw their hats into the ring.

HUOBI STEPS IN: JOINTLY LAUNCHES $93 MILLION BLOCKCHAIN INVESTMENT FUND
Last month, Huobi — currently the third largest cryptocurrency exchange by trade volume — announced plans to launch a one billion USD blockchain incubator. The project, dubbed “Huobi Labs,” would be a collaborative effort between the popular Asian exchange and Tianya Community Network, a well-known Chinese social media company.

While we have yet to see whether or not this potential fund will ever come into existence, Huobi entered into another blockchain funding venue alongside China’s New Margin Capital and South Korea’s Kiwoom Securities Co. Ltd. The joint fund aims to inject a total of 100 billion Korean won (US$93 million) into different blockchain initiatives in both countries.

According to the announcement, another company – Mirae Asset Financial Group — will also take part in the fund as an investor. The company is an independent financial services group with headquarters in Seoul.

BINANCE IS CURRENTLY IN THE LEAD
The news of Huobi’s involvement in the joint investment fund came just a day after Binance — currently the largest cryptocurrency exchange by trade volume — announced its intention to invest $1 billion in cryptocurrency and blockchain startups. The initiative is dubbed the “Social Impact Fund.”

Ella Zhang, Head of Binance Labs, said that the popular cryptocurrency exchange is planning to collaborate with 20 different blockchain funds, all of which must manage assets worth $100 million to be eligible for financial support.

Huobi Labs has yet to see the green light, but Binance Labs as already supported a number of blockchain-related projects — including a recent $30M investment in anonymity-oriented project MobileCoin.

http://bitcoinist.com/huobi-binance-invest-blockchain-start-ups/

Monster Inc, the company which notoriously lost out on Beats By Dre headphones, is planning on launching its very own cryptocurrency. The offering is slated to be called the “Monster Money Token,” according to documents filed with the U.S. Securities and Exchange Commission. Monster also plans on revamping its e-commerce website to let users purchase Monster products with the cryptocurrency.

Need Money? Launch an ICO!

Monster Inc is launching an initial coin offering (ICO) and a new e-commerce website to help recover losses it’s sustained over recent years. According to an SEC application, the company has lost almost $20 million dollars in the first quarter of 2017, alone.

Monster’s solution to its financial woes is to sell ERC20 “Monster Money Tokens.” In an SEC document, the company explains:

As we develop Monster Money Network and our backend systems, we intend to utilize the blockchain technology to our marketing, accounting and audit, internal control and shipping management functions. We believe the blockchain innovation will bring disruptive advancement to our E-commerce and business operation systems.

The company will be selling 300 million MMNY, with the max funding amount set at $300 million.

Reinventing ICO Research and Reviews with Revain

However, a big problem Monster currently faces is the fact that their stocks are not traded on any US market, though they have plans start the application process. In response to this issue, the company added the disclaimer that it “cannot assure you that MMNY Tokens will be traded on such exchange in a timely manner or at all.”

Jumping on the Bandwagon

This is not the first we’ve seen a business that has nothing to do with blockchain technology launch an ICO.

Last year, Kodak Film sold its “Kodak Coin” to help keep the company afloat. Meanwhile, during the market bubble in late 2017, hundreds of companies were launching their own blockchain project and accompanying token sale. The Long Island Ice Tea company even changed its name to “Long Blockchain” and subsequently watched its stock temporarily rise over one hundred percent.



According to ICO tracker Token Data, more than half of all ICOs held in the past year have failed, or are primed to fail soon. The market saw hundreds of ICOs launch in the past year, as well as over 780 tokens listed on CoinMarketCap.

http://bitcoinist.com/monster-launching-300-million-ico/

Bitcoin core developers are among those reacting angrily to news Microsoft has reportedly acquired GitHub in a deal worth at least $2 billion.

BITCOIN DEVELOPERS CALL FOR GITHUB EXIT
The takeover, which anonymous sources claim should see an official announcement later Monday, has led to multiple calls to remove Bitcoin activity from the code repository.

Github had previously stated it would strive to remain independent, even planning an IPO in 2017. The company’s CEO and co-founder Chris Wanstrath resigned in August, with executives “struggling” to find a suitable replacement since, Business Insider reported when it first broke the news Friday.

Bitcoin development has traditionally used the website as a global participation environment. Unsurprisingly, news of a corporate takeover failed to impress community figures, who demanded Bitcoin activity be taken elsewhere.

“Yes,” Bitcoin core developer Wladimir J. van der Laan wrote on Twitter when asked whether developers should abandon GitHub permanently.

“No real hurry, but I expect this is the beginning of a long painful road of (GitHub) toward obsolence (sic), possibly ending the same way as codeplex did,” he explained.

To be clear: many bitcoin core contributors already preferred moving to independently hosted infrastructure in the long run. This may or may not speed it up.

RIVAL SERVICE SEES 10X GROWTH
Others continued the narrative that Microsoft would stunt the project’s potential.

“There is no GitHub replacement, we all know (Microsoft) will run it into the ground,” one Twitter comment reads in response to criticism of the potential bill Microsoft paid for ownership.

In future, Bitcoin development could move to rival independent service GitLab, a trending hashtag #movingtogitlab already doing the rounds online.

On Sunday, two days after the Microsoft rumors began circulating, the company reported ten times the usual number of projects migrating amid efforts to keep up with demand.

“We’re scaling our fleet to try to stay up,” officials announced, reproducing data confirming the giant spike in migration from GitHub.

http://bitcoinist.com/microsoft-buy-github-bitcoin-devs-exit/

Fundstrat’s co-founder, Tom Lee, has long been known as a Bitcoin Bull in the cryptocurrency community. Robert Sluymer, Managing Director and Technical Strategist at Fundstrat seems to be joining the company’s growing group of cryptocurrency bulls.

Promising Signs for Bitcoin?
On CNBC’s “Futures Now” segment, Sluymer stated:

“We think Bitcoin is starting to bottom off some very key support around $7,000 and we think it’s going to start a recovery process here.”

Sluymer also noted that he has a three-phase technical analysis process that allows him to try to predict future price movements of cryptocurrencies. The first phase, which is the deceleration or bottoming out of momentum indicators, may be just starting.

Sluymer pointed out that the first phase seems to be in effect when he said:

“While it is premature to conclude the correction is over, there was a positive technical development this week suggesting the first stage of a three-stage bottoming process is developing. Short-term momentum indicators are beginning to bottom.”

For the past week, Bitcoin has been hovering around the low to mid $7000s, in a low volatility state, as shown by the bottom most indicator in the chart below.

Volatility has become a key characteristic often attributed with the price of cryptocurrencies and seeing a slowdown in volatility might leave some market players in a confused state. I personally would attribute this decrease in relative volatility to the increased institutional involvement in the industry.

However, take volatility with a grain of salt in this case, as volatility levels we are currently residing at were seen just before the crypto boom of 2017.

But some have begun to believe that this is a promising sign, as they believe that Bitcoin is consolidating before the eventual retesting of ATHs.

$6500 Triple Bottom. Is it Possible?
However, Bitcoin is still over $1000 away from 2018’s low, which amounted to around $6500 back in early April. The low in April was actually a double-bottom, with Bitcoin reaching similar price levels back in February after December’s $20,000 Bitcoin. This has led some analysts who are more critical of Bitcoin’s price, to think that a triple-bottom could occur in the future.  However, even if Bitcoin was to revisit those prices levels, past indicators show that there is a large amount of support at $6500.



Despite fears of a triple-bottom at $6500, the relative strength indicator (RSI) has been trending upwards (as seen by the chart above), finding a bottom of around 30 earlier this week. This RSI indicator, which is still located in the ‘oversold’ zone, may show that Bitcoin is prepared for upwards price action.

Over the course of this year’s price drops to $6500, RSI indicators often went as low as 30, with run-ups in price and positive indicators quickly following the aforementioned price drops. If historical values and patterns are of any merit, as they often are, this means that we could see a rapid Bitcoin run-up in the near future.

However, Sluymer believes that before that Bitcoin breaking past $7800 will have to be a precursor to the run-up which many have been waiting for.

Despite the potential for Bitcoin’s short-term success, Sluymer believes that the largest cryptocurrency may lose some dominance as some players like EOS and Tron (TRX) may outperform Bitcoin in the near future. He also mentioned that other cryptocurrencies residing in the top-40, such as IOTA, 0x, and WaltonChain have shown that they may also begin to encroach on Bitcoin’s 38% market share.

But Sluymer made it clear that he is still adamant about his belief that Bitcoin, along with other cryptocurrencies, will begin to see some upward price action very shortly.

He put it best when he said:

“If you’re short we think you should be very careful and reducing your short exposure. I think if you’re looking to be long this is where you start adding here to your long exposure.”

https://www.newsbtc.com/2018/06/03/could-bitcoin-be-heading-upwards-fundstrats-sluymer-says-yes/

Tulip mania was a period in the Dutch Golden Age during which contract prices for bulbs of the recently introduced and fashionable tulip reached extraordinarily high levels before dramatically collapsing in February 1637. Some skeptics consider Bitcoin to be the tulip bubble of the 21st century, but it’s really not so simple.

Bitcoin: Bubble or New Global Currency?
Let’s consider the theory of Hyman Minsky, the U.S. economist whose theories on financial fragility were highlighted during the 2008 collapse of the housing market. According to Market Watch, he believed that an asset bubble has five stages: displacement, boom, euphoria, profit-taking, and panic.

Under this framework, policy adviser at the Federal Reserve Bank of San Francisco, Joost van der Burgt, says that if Bitcoin is in fact a bubble, it’s likely at the beginning of the ‘profit-taking’ stage, meaning that ‘panic’ is not here yet, but is coming.

Looking back, according to van der Burgt, the ‘displacement’ phase of the bubble came in the years after the release of the Bitcoin white paper in October 2008. In those early stages, the concept of the coin was catching on, but it didn’t happen over night. Remember, Bitcoin didn’t trade above $100 until 2013.

The next phase was the ‘boom’ phase, which van der Burgt describes as follows:

“The subsequent ‘boom’ phase is characterized by prices rising slowly at first, but then gaining momentum as more and more participants enter the market, fearful of missing out.”

In this stage, fear of missing out (FOMO) saw companies attempting to capitalize on the industry by getting involved with coins and blockchain. In some cases, companies simply added the word blockchain to their names in attempts to stir up interest from investors.

Then came celebrities, like Steven Seagal and Floyd Mayweather, who attempted to get a piece of the action by endorsing newly developed cryptocurrencies. Unfortunately, in most cases, these companies with celebrity endorsements have more often that not been exposed as frauds and subsequently shut down.

Moving closer to the present, van der Burgt argues that the Bitcoin bubble entered the ‘euphoric’ stage, which he claims parallels the period leading up to the 2008 financial crisis.

“The euphoria phase is also when people start to borrow extensively to finance their investments,” van der Burgt wrote. “According to a recent survey, 18% of active bitcoin investors have financed their investments by credit card, and 22% of this group indicated that they have not yet paid off their credit card balance.”

Now, after the price of Bitcoin lost more than half its value since peaking in late-December 2017, van der Burgt believes that the market is entering the ‘profit-taking’ stage, a phase where so-called smart money begins to head for the exits, leaving only one step left before the bubble pops. “The subsequent ‘panic’ phase, should it come to that, commences when reality sets in and bitcoin’s price would substantially crash,” wrote van der Burgt.

Fortunately, van der Burgt admits that he could be wrong, and that, as we here at NewsBTC believe, the digital coin will (despite the volatility week to week or month to month) continue to rise in value. He writes:

“Then again, maybe bitcoin is different than anything we have seen before, and maybe a decade from now its market capitalization will be sky-high as it attains the status of a new global currency.”

While it is possible that Bitcoin’s rise is in some ways comparable to a bubble, it’s almost impossible to truly know. One thing worth remembering is that the coin and the underlying blockchain technology have a plethora of real-world applications (tulips, it can be said, are simply decoration), and as van der Burgt states, it could become a “new global currency.” I think that’s much more likely

https://www.newsbtc.com/2018/06/03/according-to-economist-joost-van-der-burgt-if-bitcoin-is-a-bubble-the-final-stage-of-panic-is-on-the-horizon/

A Chinese healthcare firm has reportedly raised 120 million yuan ($18 million) by issuing a custom cryptocurrency, despite China's 2017 ban on initial coin offerings (ICOs).

According to an Investor China report on Monday, the company involved – called Zhaoyun Group and apparently based in Hangzhou – focuses on the healthcare and scientific research industry.

While the company's official website does not include any information about an ICO, posts on social networks and forums indicate that the company launched a token sale on April 8.

According to the posts, Zhaoyun Group targeted the issuance of 170 million of its own ERC-20-based (an Ethereum standard) tokens, dubbed Trillion Cloud Gold (TGCG), 10 percent of which were sold through a public offering.

Data from etherscan.io, the website that tracks transactions on the Ethereum blockchain, shows that all the tokens were created in mid-March 2018, but that no transactions were made thereafter.

Through conversations with promotors in the token sale's WeChat groups, the report indicated that the public offering raised the $18 million through a tiered distribution system wherein members receive a return on their investment by attracting additional investors to purchase the token.

The report went on to call the firm's conduct "questionable," given that it could have violated China's notable ban on ICOs, while the firm's business model appears to "very similar" those seen in pyramid and Ponzi schemes.

The reported ICO comes at a time when Chinese authorities have stepped up its efforts in cracking down on crypto-related fundraising activities, as well as on those that use the concept to fleece investors through pyramid schemes, as previously reported by CoinDesk.

At press time, Zhaoyun Group had not responded to a CoinDesk request for comment.

https://www.coindesk.com/chinese-firm-reportedly-nets-18-million-in-questionable-token-sale/

Qulian Technology, a China-based blockchain platform developer, has announced the completion of a 1.5 billion Chinese yuan ($234 million) Series B funding round.

According to an announcement from Qulian on Sunday, the news comes just a week after the deal's lead investor Xinhu Zhongbao, a Shanghai-listed real estate and finance firm, first disclosed its plan to invest in the project in a filing with the Shanghai Stock Exchange on May 27.

The document indicated that Xinhu Zhongbao intended to invest 1.23 billion CNY ($192 million) in Qulian through a combination of a $17 million capital contribution transfer and a $175 million new equity issuance. The deal resulted in the investor holding 49 percent of Qulian's shares.

Founded in 2016, Qulian sets out to develop enterprise-grade solutions based on its hyperchain blockchain platform. Based on Xinhu Zhongbao's disclosure, the firm recorded revenue of $281,000 and a net loss of $2.34 million in 2017, while the firm was valued at $234 million.

This is the second time that Xinhu Zhongbao has shown its support for Qulian, having already purchased a small amount of the firm's shares in April 2018, at which point the investor valued Qulian at $78 million.

The three-fold increase in valuation over two months has predictably drawn scrutiny from financial regulators in China. In a letter of inquiry published on May 27, the Shanghai Stock Exchange required the lead investor to justify the rapid change in Qulian's valuation.

Zhongbao Xinhu replied to the regulator:

"This is a business judgement made by the company and other co-investors based on a comprehensive evaluation of Qulian. There is a risk of a mismatch in (Qulian's) income and valuation."

source:https://www.coindesk.com/hyperchain-blockchain-creator-completes-234-million-funding-round/

Доброго дня
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кроме localbitcoins

Verge

Verge Cryptocurrency Opens Crowdfunding: A Possible Scam?
Verge, a digital currency with an ambition to compete with other privacy coins, took to Twitter on Thursday, March 22 to ask its users to raise an amount of $3 million in XVG so that the project can reveal a partnership. Such an endeavor that is completely unheard of, even in the Cryptocurrency world.

Starting out as a Dogecoin Fork, Verge was popularized on Nate Murray’s cryptocurrency list as a “privacy dogecoin.” Since then, the coin has come a long way and is met with equal parts criticism and cheering. The failure to deliver on its famed “Wraith Protocol” was circulated extensively on Twitter, causing the project to lose credibility. In the past week, Verge’s Twitter account posted a “crowdfunding” campaign to enable the project to reveal a new partnership.

Such a move is not only bold and risky, but it makes users view the project with suspicion...

The media immediately reacted to the obvious Scam. BitCoin ONE (BTCONE) posted an ad in its Twitter account: if Savedroid really turns out to be a Scam, they will give 100 000 BTCONE to victims for free. Some Theo Goodman posted on Youtube a video with an empty ICO office. Behind the scenes said:"I can not confirm Anything."

A major serious portal Finance Magnate also responded to the news and wrote that Savedroid turned out to be a Scam. Also, the media mentioned that the project allows you to make 56 different types of cryptocurrencies, unlike most ICO, which accept only BTC or ETH. About the project wrote CCN, Cryptovest, Crowdfund Insider, Bloomberg. Perhaps, HYIP around Khankir can be compared only with the references to Vitalik Buterin and Charles Lee.

Centratech

Centratech promoted boxer Floyd Mayweather and DJ Khaled. ICO offered Visa and MasterCard support services that would allow customers to convert cryptocurrencies to real money. ICO raised $ 32 million, after which the two founders of Sohrab " Sam " Sharma and Robert Farkas arrested on suspicion of fraud.

Plexcoin

Plexcoin promised depositors 1 300% profit per month — a classic Scam. However, the ICO has raised more than $15 million Fine, the SEC has had time: froze the company's assets and arrested the founder of the Dominic Lacroix. By the way, the arrest and freezing of accounts — the first case in the practice of the Commission.