Category: Crypto News

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Australia Blockchain Crypto News Industries

ASX Partner VMWare Releases Blockchain Software For Commercial Use

VMWare, Inc., a company providing highly scalable software solutions for enterprises of any size , has taken the decision to launch their blockchain software available for purchase. This will allow businesses to increase the security of their data silos, allowing instant blockchain-powered data transfers.

Partnered With The ASX

Ever since the launch of its beta in 2018, the VMWare blockchain has connected with a steady stream of partners.

Among them is the ASX, who in the search for an upgrade to their aging infrastructure have turned to blockchain.

According to Dan Chesterman – the Chief Information Officer of ASX – Distributed Ledger Technology (DLT) helps automate processes in a secure, accountable manner, giving it a leg up over competing technologies.

“The combination of VMware Blockchain and Digital Asset’s expertise in smart contracts and distributed ledger technology is the right partnership to help us transform and modernize Australia’s financial market infrastructure. DLT can help financial services firms transform data, preserve privacy and confidentiality, and remove manual processes that exist in the industry.”

The VMWare Blockchain’s Scalable Byzantine Fault Tolerance (SBFT) also works together with DAML in order to provide access to smart contracts ready to be used by booming enterprises and small-time businesses alike.

According to Yuval Rooz – the co-founder and CEO of Digital Asset, the company behind DAML – the smart contract tool developed by his team ensures privacy to the point where companies competing in the same field can collaborate on a distributed ledger.

Yet another partner of VMWare is none other than Accenture. David Treat, the head of Blockchain development at Accenture, also stated that blockchain allows companies to unlock the real potential of their data.

“By unlocking the real potential of data in our digital world, multiparty systems, supported by blockchain, are reshaping industries and transforming the way companies work together. It’s reshaping financial services, for example, by reimagining how transactions are executed, from payments to post-trade processing.”

After two years in post-beta development, VMWare’s blockchain solution seems poised to take the world by storm.

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Crypto News

WAVES Trading Analysis – Triple Breakout on WAVES/USDT Pair

Waves have already gone up over 134% this month, and the trading analysis suggests that there might be a third wave incoming. Let’s take a look at WAVES and what the charts are telling us.

What is Waves?

Waves is an open blockchain protocol and development toolset for Web 3.0 applications and decentralized solutions, aiming to raise the security, reliability, and speed of IT systems. It enables anyone to build their apps, fostering mass adoption of Blockchain

Waves Quick Stats

Symbol:WAVES
Global rank:32
Market cap:$1,010,711,125 AUD
Current price:$10.04 AUD
All time high price:$24.07 AUD
1 day:+15.25%
7 day:+67.71%
1 year:+1065.5%

Triple Breakout on WAVES/USDT Pair?

According to this chart, it looks like WAVES could be surpassing the triple breakout resistance on the USDT pair and the second major resistance is on the $8.07 price level.

TradingView chart by TG @CryptoCoinsCoach

This chart shows the parabolic trend of 30 min candle on the WAVES/USDT pair. The Price level at $8.7253 to be the final resistance for buyers.

The parabolic SAR indicator, developed by J. Wells Wilder, is used by traders to determine trend direction and potential reversals in price. … The parabolic SAR indicator appears on a chart as a series of dots, either above or below an asset’s price, depending on the direction the price is moving

Breaking $8.7253 Resistance Line Could Trigger the Third Wave

What do the technical indicators say?

The WAVES TradingView indicators (on the 1 day) mainly indicate WAVES as a Strong Buy, except the Oscillators which indicate WAVES as a Buy.

Recent WAVES News & Events

Where to Buy or Trade WAVES

WAVES has the highest liquidity on Binance Exchange so that would help for trading WAVES/USDT or WAVES/BTC pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.

Conclusion

The trading charts suggest WAVES could be breaking the second major resistance on the USDT chart and the technical indicators suggest WAVES as a strong buy. The news about the cross-chain support on 3rd November was in hindsight a potential trigger of the first wave.

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Crypto News

Bitcoin Dominance About to Break Support – XRP Leading the Way as Altcoin Season Starts

The altcoins have finally arrived at the Bull run party that Bitcoin initiated a couple of weeks ago, bringing back the memory of 2017.  Bitcoin’s bull rally started after the #1 BTC broke past the key resistance of $17,000 and $19,000 and is currently trading between $25,000 to $25,300 registering more than 18% gains over the week. Altcoins remained fairly quiet for the past weeks except for Litecoin which made 33% gains over the past week.

Bitcoin Dominance played a key factor in triggering the Alt Season where the Marketcap dominance of the Bitcoin broke below the key support of 66.37.

A Popular Twitter analyst who goes by the name of The Wolf of All Streets has predicted that if BTC breaks past its key support then it could be the Alt Season for 2020.

XRP Awakens From a Prolonged Winter Market

Source:- TradingView

XRP, the third-largest cryptocurrency by market cap has become the biggest gainer for the day and even the week because of its mammoth rally of over 30% today to break past the key resistance of $0.40 to set a 52-week high of $0.4366.

What do the technical indicators say?

The  XRP TradingView indicators (on the 1 day) mainly indicate XRP as Strong Buy, except the Oscillators which indicate XRP as a buy.

This altcoin has remained quite inactive in terms of price movement over the past two years and failed to break past the psychological level of $0.30 even when other coins went through many price fluctuations. The third-largest cryptocurrency has made 53.25% gains over the past week.

Ethereum Price Peaks New Yearly Highs Other Altcoins Join The Bulls Too

Ethereum quite similar to bitcoin is recording new yearly highs after breaking past the key resistance of $500 and registering 2.5 years high. The second-largest cryptocurrency has even left bitcoin behind when it comes to year-to-date returns at over 284% returns against 155% for Bitcoin. Ethereum is currently trading at $531.02 with a 4.6% rise over the past 24-hours.

Apart from XRP and Ethereum, the biggest gainer among the top 10 coins is Cardano seeing a 16.1% rise over the past 24 hours followed by recently forked coin BCHABC with a 12.77% rise over the past 24 hours.

Where to Buy or Trade XRP?

XRP has the highest liquidity on Binance Exchange so that would help for trading XRP/USDT or XRP/BTC pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.

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Bitcoin Crypto News

Australia Crypto News in Review, Week 16 – 22 Nov

Australia Records Highest Number of new Crypto Fintechs in 2020

Welcome to our Weekly Crypto News Review, each week we aim to bring you up to speed on all the recent news and events about Bitcoin, crypto and blockchain from Australia.

Australia‘s Stories of the Week

Binance Australia launches AUD deposits and Masterclass

Last week Binance Australia launched AUD deposits on their App. And they also launched Masterclass: Free Online Crypto Trading Course. Great to see Binance expanding into Australia and making crypto trading easier for us.

Australian Exchanges are Expanding Their Digital Assets

Blockchain Technology Now Supported By Aussie Politicians On Both Sides

Encouraging news that both sides of the Australian Government support blockchain. Cory Bernardi – who has served as senator from 2006 to 2020 – stated his support for cryptocurrency after becoming more acquainted with the concept over the years.

View more Australian Crypto News

Worldwide Stories of the Week

PayPal Joins the Crypto World in the USA

Whilst its great news that PayPal is now supporting Cryptocurrencies in the USA, but there are some limitations:

  • A limited number of cryptocurrencies (namely, Bitcoin, Litecoin, Bitcoin cash and Ethereum) available.
  • You cannot transfer those cryptos to your own external wallet. Don’t forget: “not your keys”, “not your cryptos”.
  • You cannot use the crypto currencies to pay for goods and services.
  • You cannot send the crypto currencies to family and friends.
  • Paypal crypto fees vary based on the amount you buy/sell. For $1-25 USD the fee is 0.50 USD. Nice to see they are keeping their fees high.
  • The weekly limit on purchases per week has been increased to $20,000 USD. 

Currently this is only available to USA only but PayPal plans to release it to other countries in the first half of 2021, so we will keep you posted when it will be available in Australia.

Banks Moving In, Bitcoin Better Than Gold?

  • The SEC has announced that banks may act as custodians for Bitcoin and crypto assets in the US.
  • Singapore’s Largest Bank is planning to launch its own Crypto Exchange however the launch date is not provided because they are still seeking regulatory approval.
  • Billionaire Stanley Druckenmillar bought bitcoin and wants the world to know it maybe a better store of value than gold.
  • The Daily Hodl reports “German multinational bank, Deutsche Bank, says more and more people are choosing Bitcoin over gold to protect their cash.”
  • And last week Andrew Munro reported on Finder that the RBA is testing an Ethereum based central bank digital currency.

Important Crypto Dates

A select list of recent and upcoming important crypto events:

CoinDateEvent
Bcash (BCH)Nov 15Hard Fork
Uniswap (UNI)Nov 17End of Uni Farming
ZCash (ZEC)Nov 19Hard Fork
Stella (XLM)Nov 22Network Upgrade to Protocol 15
Ethereum Classic (ETC)Nov 28Hard Fork
Cosmos (ATOM)Nov 30Public Testnet
Populous (PPT)Nov 30DeFi Release
Ethereum (ETH)Dec 01ETH2 Staking Enabled

The Bitcoin cash fork went live, dropping over 5% in the first 24 hours with Coinbase announcing a temporary pause in deposits and withdrawals of BCH on their platform.

Uniswap’s liquidity dips 44% as UNI farming ended with users reportedly rushing back to Sushiswap after UNI rewards end.

For XRP holders, there will be a free air drop of the Spark token from the Flare network on December 12, and you may need to prepare for that, or your wallet or exchange may plan to do it for you. For more information on Flare and on how to claim the Spark token.

Crypto Musings

CNBC’s Fast Money tweeted “…it might be time to take a breather. Here’s why…” on Thursday 19/11/2020 in the context of bitcoin crossing $18,000 suggesting it may be time to sell some of your Bitcoin. The traders on “Crypto Twitter” (CT) have observed and comment frequently that CNBC’s calls are known as a counter trade indicator. And in the last few years this has wrung true on many occasions with bitcoin and the crypto market going the opposite to what they say within a few weeks. So, let us see if it rings true within the next few weeks for Bitcoin!

Thought for the week – Is the end of the bear market a bull trap or will Bitcoin goto the Moon and beyond?

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Categories
Australia Crypto News Europe Payments

Digital Payment Platform Azimo Launches In Australia

Azimo – a payment platform headquartered in Amsterdam – has recently launched in Australia.

 A country known for it’s thriving payment platform industry, Holland is well-known across Europe for its innovative banking solutions such as iDEAL or bunq.

A Cryptocurrency-Friendly Platform For Payments

Although not as well-known in the industry as the aforementioned platforms, Azimo has been operating in Europe for the past 8 years with little to no hitches – and bring something special to the market.

Azimo is a user of Ripple’s On-Demand Liquidity Solution (ODL).

Ripple’s ODL service uses the XRP cryptocurrency asset to provide instant payments in over 45 countries and can reduce liquidity costs by up to 60% when compared to old-school banking practices.

Dora Ziambra – the Chief Operations Officer of Azimo – stated that Azimo identified Australia and the APAC region in general as a more attractive market than the USA, likely owing to the fact that the Australian public and private sectors as a whole have proven far more interested in blockchain technology than their NA counterparts.

According to Richard Ambrose – the CEO of Azimo – the use of digital assets to reduce payment SLAs has interested them for quite some time.

“We’ve been interested for a long time in the potential of digital assets like XRP to make cross-border payments better for customers. Ripple’s ODL solution has significantly reduced the cost and delivery time for cross-border transfers, and our customers are seeing the benefits. As more banks and financial institutions use ODL, we believe it has the potential to replace current methods of foreign exchange trading and to reduce settlement time to close to zero.”

Boasting a money transfer SLA of under 24 hours, Azimo seems poised to be a competitive choice for Australians looking to send and receive quick payments worldwide. 

Categories
Crypto News Cryptocurrencies Mining Stablecoins

Coding Whiz Makes $5 Million With A Single Flashloan

Using the flashloan function made possible by smart contracts on the Ethereum blockchain, a coding genius lent 80 thousand ETH and made a profit in DAI worth around $6 million.

However, a total of 8 million was actually gained – but $2 million were returned.

A flashloan is an operation that – if executed properly – can net you some capital gains with virtually zero risks involved. When pulled off right, you get your money back within 15 seconds, plus your profit. All you need is dollars to cover the network fees with the coder himself taking no risk as the code either executes all in one with the ability to instantly return the borrowed money and fees, or it doesnt. Although hard to execute properly, a fair bit of practice can lead to a massive payoff.

In this case, the mysterious dev flashloaned 80,000 ETH – worth AUD 52,398,834 at the time of writing – and netted himself a profit of AUD 6,833,870, paying only $57 of gas fees for the transaction.

For this transaction, the mysterious entrepreneur spotted an arbitrage opportunity that took advantage of stablecoin mining pools – and exploited it using solidity flashloans.

Do You Really Know Flashloan?

The universe loves to punish hubris – and the coder behind the operation seems to have an eye for comedy.

A few days ago, the team behind the DeFi mining pool who bore the brunt of the transaction tweeted about how they are impervious to “flashloan attacks”.

The tweet has since been deleted – but thanks to the Wayback Machine – it’s been saved for posterity.

The tweet encouraged crypto enthusiasts to read on about how technical marvels make them one of the most secure DeFi firms in the industry.

However, there is always a bigger fish – and someone who apparently was more well-versed in technical details called their bluff. Clearly a humorous individual, the coding whiz left a taunting message on the transaction – “do you really know flashloan?”

 The tongue-in-cheek antics then continued, with $2 million worth of the money returned to sender.

Many self-improvement blogs will tell you to work smart, not hard – but few took this old adage to heart as well as this individual.

Categories
Australia Crypto News Payments Ripple

Ripple Launches New Trademark Following PayID Debacle

This August, Ripple was the subject of a lawsuit served up by NPPA, a payment platform serving countless users across Australia. 

The dispute started over the use of the “PayID” name in Australia —  which the NPPA was already using. 

The NPPA claimed that Ripple’s actions constituted deceptive conduct — in breach of both the Australian Security and Investments Act and Australian Consumer Law.

In a statement, the NPPA claimed that Australian investors — as well as regular users of their PayID platform — were at risk, as they could have been liable to confusion arising from the shared name.

PayID — the payment platform run by the NPPA — has served more than 68 million bank accounts ever since it’s launch 2 years ago.

“The aim of this action is to protect Australian consumers and businesses from potential losses or scams that could arise as a result of confusion created from a payments service using the same name.”

Ripple Rebrands 

Back in August, Neil Murray SC —  a counselor for Ripple Labs — stated that they would look for options, wishing to resolve the issue amicably if possible.

Last week, Ripple Labs filed a trademark for their rebranded platform with the United States Patent and Trademark Office. 

Named Paystring, the new trademark has not been explained by Ripple — nevertheless, it is worth noting that the logo used has remained the same except for the name, as well as the trademark description itself. 

“[The]…trademark registration is intended to cover the categories of electronic financial services, namely, monetary services for receiving and disbursing remittances and monetary gifts in fiat currencies and virtual currencies over a computer network and for exchanging fiat currencies and virtual currencies over a computer network.”

Taking into consideration these similarities, it is quite probable that this trademark will be used to relaunch the service in Australia, free of legal issues.

Categories
Crypto News DeFi Hackers

Hacker Steals 2$ Million From Akropolis Savings Pools

Akropolis (AKRO), the Crypto DeFi platform, recently tweeted on November 12 that their savings pools were hacked by the amount of 2$ million dollars worth in DAI, apparently, in a Flash Loan attack. 

According to Akropolis, the hack was executed “across a body of smart contracts” in the savings pools. The firm added that their staking pools are “safe” — and the hack only affected CurveY and Curve sUSD savings pools. 

In a statement, the firm noticed a “discrepancy in the APYs of our stablecoin pools”. Reports from the ETH blockchain show that the hackers were able to gather a total of $2,051,159 million in DAI. Later, the hacker sent the funds to a different address where they are currently held.

Now the entire Akropolis protocol is paused — its stablecoin pools remain suspended as the security team is currently working on several procedures in the affected areas. The firm informed major exchanges about the attack — and their security processes are under review as well.

Researcher Steven Zheng reported on Twitter about the hacker’s transaction. Zheng also stated that the hacker was executing batches of $50,000 attacks 7 hours later. 

Zheng, as well as many other crypto users, suggested that this hack was similar to the Harvest Finance project hack — a market price manipulation made with flash loans exploits. “This is not entirely true”, said Ana Andrianova, Akropolis founder, discarding Zheng’s suggestion about the attack being similar to Harvest Finance.

Harvest Finance was a DeFi project led by an anonymous team. The attack caused millions of dollars worth of FARM tokens stolen by hackers. As a result, its prices fell over 60% at press time.

While its users are now fearful about the future of their savings, the Akropolis team stated that “most funds are safe” and that they are exploring ways to refund the users affected by the hack. 

“We are exploring ways to reimburse users for the loss in a way that is sustainable for the project, and will make a proposal to the community prior to any final decision being made.” As a sideline, the firm stated one of the next steps is a post-mortem publication with their analysis as soon as possible.

Categories
Crypto Exchange Crypto News Swyftx

Swyftx – Monthly News Recap October 2020

This is our monthly Partners news recap for Swyftx to keep you updated on what’s been happening with them this month and what they have upcoming.

Competition: Win $250 of BTC – 8 October

Want to #WIN $250AUD of #Bitcoin (BTC) credited to your Swyftx account? Head over to our Facebook Page for your chance to WIN!

New website design

The Swyftx.com.au website has had a makeover. It’s now visually cleaner and a much improved modern design making it easier for people to use.

47 new Crypto Assets for trading

This month Swyftx added 47 new Crypto Assets for trading. Swyftx has also just listed 7 more assets including Polymath Network (POLY) and Filecoin (FIL) bringing the total assets added recently to 54. More information on this soon.

Dashboard Customisation

You can now edit the tiles by clicking the gear icon in the top right.

News feature low market volume warning

We’ve got a long-requested feature ready, notifying traders of “Low Market Volume”. In the instance liquidity is low for a period of time for a crypto asset now we’ll let you know as per the image below. Low Market Volume Warnings.

Keeping our Support Excellent

We are continuously improving our support for Australians and maintain a excellent standard as confirmed independently by our Trust Pilot reviews.

Expanding into New Zealand

Swyftx is expanding into New Zealand within 2020, currently working through onboarding of partners to support this location. More news on this soon!

Stay up to date with Swyftx

Buy, Sell & Trade over 100 Crypto-Assets on Australia’s most progressive Cryptocurrency Exchange. Swyftx is an AUSTRAC registered Australian crypto currency exchange & trading platform with tiny spreads, low fees and non-inflated market prices. Trade with stop losses, take profits and triggered orders on a mobile & desktop ready modern web based crypto currency exchange.

Website: https://swyftx.com.au
Twitter: https://twitter.com/swyftxau
Facebook: https://www.facebook.com/swyftx
LinkedIn: https://www.linkedin.com/company/swyftx

Categories
Coinjar Crypto Exchange Crypto News

CoinJar – Monthly News Recap October 2020

This is our monthly Partners news recap for CoinJar to keep you updated on what’s been happening with them this month and what they have upcoming.

All-new Trading Pairs on CoinJar Exchange

We have added four new ERC-20 tokens to our lineup and are now excited to announce the addition of the following new trading pairs to CoinJar Exchange.

  • XLM/AUD, LINK/AUD, MKR/AUD, OMG/AUD, COMP/AUD
  • XLM/BTC, LINK/BTC, MKR/BTC, OMG/BTC, COMP/BTC
  • XLM/GBP, LINK/GBP, MKR/GBP, OMG/GBP, COMP/GBP
  • XLM/USDC, LINK/USDC, MKR/USDC, OMG/USDC, COMP/USDC

Introducing DeFi & ERC-20 CoinJar Bundles

Following the announcement of four new ERC-20 tokens to the CoinJar lineup, we have also created new CoinJar Bundles to help you diversify your ERC-20 portfolio.

From today, the following bundles are available for purchase through the CoinJar app:

  • ERC-20 Bundle which includes BAT, ZRX, USDC, DAI, COMP, LINK, MKR, OMG
  • DeFi Bundle which includes COMP, LINK and MKR

CoinJar is improving liquidity to bring you better prices

Now with 289 trading pairs available on CoinJar and 49 on CoinJar Exchange, and with new cryptocurrencies recently being listed including LINK, COMP, MKR, OMG and XLM, it’s more important than ever to provide deep liquidity and better buy/sell prices.

In September 2020, CoinJar launched a first-generation implied matching system for incoming orders with the goal to bring you better digital currency prices and improved liquidity.  

Data based on approximately 2 weeks before and after the launch of implied matching showed that CoinJar’s buy-sell spread between Basic Attention Token and AUD improved by 75% (from 2.16% to 0.53% on average). Improvements were also seen in other pairings such as the buy-sell spread between Bitcoin and AUD has improved by 13% (from 0.22% to 0.19%). Read more

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Stay up to date with CoinJar

Established in 2013, CoinJar is the easiest way to buy, sell, store and spend cryptocurrencies in the UK and Australia. CoinJar’s iOS and Android apps allow users to trade cryptocurrencies on the go, while CoinJar Exchange and CoinJar OTC Trading Desk cater for professional traders, as well as individuals and institutions looking to make larger transactions.

Website: https://www.coinjar.com/au/
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