Newsflash: Bitcoin Price Loses $200, Falls Under $950
bitcoin price has sunk to a 30-day low, losing over $200 in a 24-hour period to hit a low of $938.73 on the Bitstamp Price Index (BPI).
The ongoing debate about a hardfork of the bitcoin blockchain that could see two separate networks with two separate assets has possibly triggered a bitcoin price spiral to levels unseen since February 9. At the time, price crashed to a low of $915 from trading levels above $1050 after two of China’s biggest bitcoin exchanges bitcoin withdrawals, a measure that .
At 15:45 UTC on Friday, BPI figures reveal the cryptocurrency trading at nearly $1,160. 24-hours later, bitcoin lost over 18% of its value, hitting a low of $948.73.
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At the time of publishing, bitcoin is rebounding back toward the $1000 level, trading at $979.
As bitcoin falls, its closest competing crypto-token, ether, has now been surging for a week. Ethereum prices yesterday.
Authorities Dismantle Shadow Bank That Handled ‘Hundreds of Millions’ for Crypto Exchanges An Arizona Man and an Israeli woman have been charged in connection with providing “shadow banking services” to cryptocurrency exchanges — involving millions […]
Talinn, Estonia – , the Estonia-based fintech startup, today announced plans to launch a lending platform to create a new type of secured, peer-to-peer loans for crypto investors through its ICO.
Currently, if a crypto investor has a large holding in bitcoin and needs fiat currency, there is no option for them to borrow against these assets. CoinLoan plans to offer a solution to this issue in the near future.
CoinLoan’s founders, Alex Faliushin and Max Sapelov, started CoinLoan when they recognized that cryptocurrency could facilitate a completely new type of . CoinLoan is creating a system of secured peer-to-peer lending, where borrowers deposit crypto assets for a loan in their preferred currency. If the borrower doesn’t repay according to the agreed terms, CoinLoan can liquidate the pledged crypto asset and will return the remaining funds to the lender, including accrued interest. Lenders get a risk-free way of earning interest on their capital, and borrowers get to leverage their crypto assets without liquidating. A crypto investor is able to leverage their crypto-assets for a loan to allow them to retain a long position with their assets and at the same time, give them a range of options with future tax payments.
Billed as “lending secured by crypto assets”, CoinLoan allows members to leverage assets like bitcoin as collateral. This new platform, tethered to Ethereum ERC20 smart contracts, lets borrowers tap into capital on demand. CoinLoan’s major benefit is that it offers a mechanism to support the holdings of an investor, while it also greatly simplifies the loan process and leverages a lending market built on blockchain technology.
CoinLoan has also made great strides in putting together a compelling investment proposition for investors. “In the run-up to our ICO, we’ve added a number of seasoned blockchain specialists to our advisory team,” said Max Sapelov, CoinLoan’s co-founder. “We’ve totally reconfigured our token offering to make it a very compelling investment proposition.” After successfully raising $550,000 during its pre-ICO fundraising round, it plans to raise the remaining $56 million via its ICO on November, 26th, 14:00 UTC.
