Bitfinex, one of the most controversial cryptocurrency exchanges, announced that it would be removing “current high frequency/size fiat withdrawal fees on Bitfinex”. The exchange stated that the move of providing “low-cost fiat withdrawals” was made solely for its “loyal users”. The exchange also stated that the new numbers will be updated tomorrow.
The platform stated in a blog post,“Standard fiat withdrawal fees will once again apply to all verified Bitfinex users, totaling 0.1% of the amount withdrawn ($60.00 minimum). We are thankful for the support that many of our traders have shown us, and we are proud to once again be able to provide our loyal users with low-cost fiat withdrawals.”
ibankbitcoins, a Twitter user said,“So one of LEO’s benefit of having better withdraw fees is now nullified, great work tho because 3% is too high.”
Keeping this aside, the exchange also made another announcement today regarding its venture into the Initial Exchange Offerings [IEO] side of the market. Notably, Ethfinex, Bitfinex’s sister exchange that focuses on ERC20 tokens, will also be taking its first step into this along with Bitfinex. The exchange had stated on Twitter,“After much development to ensure a user-optimised experience, we are proud to unveil the latest product in our portfolio, Tokinex, our new Initial Exchange Offering platform.”
The new venture would be called Tokinex, which would be launched on 23rd May, with the customer verification process handled by BlockPass app. However, United States customers and other customers from its restricted jurisdictions list will not be allowed to participate in the sales taking place on this platform. The first token sale was reported to take place on the 13th of the coming month.
The blog post stated,“What it means to be an exchange has evolved to become an entire ecosystem, not just limited to the remit of trading digital assets. We are proud to finally launch Tokinex and bring the opportunity for participation in quality token sales in a fair environment.”
South American e-commerce, MercadoLibre works with Facebook on coin project
More partnerships for upcoming Facebook coin, this time came from South American e-commerce platform, MercadoLibre.
Facebook coin seems to be highly anticipated as more partnerships are announced. The most recent came from Brazil where renowned online marketplace, MercadoLibre is reported to work with Facebook on the Libra cryptocurrency project.
According to an anonymoys executive from the e-commerce company, the new crypto will be integrated on MercadoLibre’s platform as a form of payment.
That said, he added that his company is very unlikely to operate as a node in the upcoming crypto.
The partnership with the e-commerce platform that operates in 19 South American countries is just one of the many collaborations to make Facebook’s coin project come true.
Earlier, it was reported that a consortium has been created to govern the coin project with Andreessen Horowitz, Union Square Ventures, Coinbase and no-profit Mercy Corps included as the members, as reported by Cointelegraph.
Other companies, such as Visa, Mastercard, PayPal and Uber are also showing their support to the social media giant on their crypto project.
Stick with Chepicap for more updates on Facebook’s cryptocurrency.
BitTorrent Creator Bram Cohen Takes Over as CEO at Chia Network
BitTorrent creator Bram Cohen has taken over as CEO of his current company, Chia Network, CoinDesk has learned. Co-founder Ryan Singer has stepped away from the company to focus on family priorities.
Cohen is viewed as a pioneer of the decentralized internet for creating the BitTorrent filesharingprotocol. In August 2017, he left BitTorrent to found Chia, an alternative to bitcoin created to be a less energy-intensive cryptocurrency.
While the company has stayed largely under the radar since announcing itself, it’s backed by some of the most closely watched investors in cryptocurrency.
According to Crunchbase, Greylock Partners, Naval Ravikant and Andreessen Horowitz have all backed the young company, which has raised $3.4 million so far. BitTorrent, is now wholly owned by Justin Sun’s Tron, a negotiation that required Cohen, as a major shareholder, to play an active part.
Former CEO Singer confirmed to CoinDesk he’s not currently working at Chia. A spokesperson for the company also confirmed the transition, adding that current CFO and general counsel Mitch Edwards will take on existing business development relationships.
According to his LinkedIn page, Edwards has had a long career in technology, including a stint in similar roles at BitTorrent and Core Scientific. He also served for a time as acting CEO of Overstock.com, one of the first well-known companies to accept bitcoin.
Chia describes its cryptocurrency as “enterprise-grade.” It refers to its consensus model as “farming” rather than “mining,” in order to distinguish it from more energy intensive forms of securing crypto networks.
Since October, Chia has been testing its approach by running optimization contests with its community and open-sourcing the best implementations. The company initiated its second contest in April.
Cryptocurrencies with greater appreciation: cloud services, digital assets and privacy
- This week BTC exceeded USD 9000 driving the rest of the market.
- The most outstanding projects experienced a growth of between 20% and 60%.
The cryptoactive market was pushed upwards these seven days, after a slight decline in prices in the first weeks of the month. Bitcoin surpassed USD 9000 this Sunday, June 16, with an increase of over 5% in the last 24 hours. At the time of writing this note, its value is USD 9156, with a growth of over 19% this week.
According to data from LiveCoinWatch, ether (ETH) maintains its place as the second largest cryptocurrency by market capitalization , with more than 28.8 billion dollars. Its price at this time is around USD 271 and during the week reached a growth of 16.50%. For its part, ripple (XRP), reached a price of USD 0.429, increasing 11.8% in the last seven days.
In general terms, the good performance during this week was evident in five projects that reflected double-digit growth. This was the case of ChainLink (LINK), with 58.31%; followed by Bytom (BTM) who recorded a jump of more than 45%; then Qtum (QTUM); with 26.29%; Zcash (ZEC) with 22.05%; and NEO, with 20.73%.
The increase of the ChainLink token (LINK) is related to the latest news from Google about a new application for its services in the cloud, which will use the blockchain of Ethereum and its data analysis tool, BigQuery. The system will work with a Chainlink intelligent contract.
The announcement was made on June 13, causing a 33% increase in the value of the token in 24 hours. LINK went from being worth USD 1.06 at the beginning of the week to a peak of USD 1.87. At the time of writing, it is quoted at USD 1.67. Its growth in these seven days has been more than 58% .
The Bytom public blockchain is an interactive protocol for the digitization of physical assets. On June 4, the company confirmed the details of the DevCon 2 competition, where developers from around the world will have the opportunity to win a first prize of USD 30,000 and almost USD 100,000 in other rewards. Registration to participate in the competition will be open until next August 2 .
As of this announcement, the price of the cryptoactive has been increasing throughout the month. For the fourth of June it was quoted at USD 0.188262. The same day rose to USD 0.147881. Since that date it has had a sustained increase. On June 14 it reached 0.1764466 and for this June 16, its price is USD 0.191774. Regards a growth of 51% in the last week .
Qtum is a platform that focuses on intelligent contracts and decentralized applications, whose consensus mechanism is proof of participation (Proof of Stake). Earlier this month, he proposedto his community of users to implement the Schnorr signatures protocol in their block chain, as part of plans to improve their infrastructure. The proposal is part of a series of improvements or QIP ( Qtum Improvement Proposal ) that were presented by the project development team for discussion and identified as QIP 16, 17 and 18.
Thanks to this announcement, it was notorious the underpinning of the price of the QTUM token , which rose to more than 3.7 dollars in the first days of June, after trading between USD 2.7 and 3.50 during the month of May. A new message related to the QIP 19 proposal was made this June 14 through its official Twitter account. There the plan was presented to allow the implementation of confidential assets in the platform.
After the dissemination of this message, QTUM registered a rise of more than 27% this week. The price was around USD 2.91 on Monday and rose to USD 3.54 this June 15. At the time of writing this note, it is quoted at USD 3.74.
This week the team Zcash reported on conducting annual developer conference, fans and investors cryptocurrency : The Zcon1. The event will take place between June 22 and 24 in Croatia. It is a second edition of three days where the improvements in the network and the community will be discussed, through panels, workshops and presentations.
The news has been promoted in the social networks of the Zcash Foundation and could be boosting the price of ZEC , which went from around 78 dollars at the beginning of the week, to USD 93.8 for this June 16. A growth of more than 22%. Its upward momentum has become more noticeable since Wednesday, June 12, when it jumped from 82 dollars to more than USD 90. It currently maintains a market capitalization of more than USD 644 million.
The price of NEO at this date is USD 14,17, registering a growth of more than 21% in its price this week . The increase has seen more momentum since Friday, June 15 when it rose to USD 13.74 after starting the week with a price that was around $ 11.
Through a message on Twitter, the NEO team announced the incorporation to the company of Harry Pierson, who for more than 20 years worked at Microsoft. Also this week the team expressed interest in developing a safety token ecosystem , by partnering with Liquefy.
Also, earlier this month, the blockchain platform based in China reported that it completed the programmed bifurcation of its main network. The update allowed for the implementation of the most recent version of the NEO consensus algorithm and the establishment of a new fee-for-transaction scheme. These events could boost the price increase of this cryptocurrency.
The bitcoin price increase was favorable for many of the cryptocurrencies this week. However, those that had greater appreciation also presented reasons for their behavior in the last seven days.: