ICO Alert Crypto Minute: July 5, 2018
Universal Wallet for U.S., Crypto-Boom in South Africa, Binance Trading Halt, top gainers and more!
Ethos Releases Universal Wallet to U.S., Price Jumps
The Ethos Project, an infrastructure project whose aim is “to build a financial ecosystem that is open, safe and fair for everybody,” announced yesterday the release of their Universal Wallet. This new infrastructure returns ownership and control of a user’s currency back into their own hands, rather than having operations routed through a centralized third-party server like current cryptocurrency wallets. In light of the new release, Ethos token trading saw a five-times increase in daily volume figures. According to Ethereumworldnews.com, the average price for the token has dropped to $2.58, yet is still posting a 50% increase on the daily chart since the release.
The U.S. announcement comes after Universal Wallet releases in the Netherlands and Germany earlier this week. Continued roll-outs and further global expansion are planned in 2018.
Cryptocurrency Industry Expands in South Africa
The cryptocurrency industry in South Africa is on the rise. According to Cryptodisrupt.com, asset managers and cryptocurrency exchanges are increasingly starting to offer services that cater to the cryptocurrency community, both locally and internationally. This major interest persists despite the recent digital currency price drop across major exchanges over the last month.
Binance Halts Due to Irregular Trading
On Wednesday, July 4th, Binance temporarily suspended trading activity on its exchange, the world’s largest for cryptocurrency transactions by volume. As reported on Coindesk.com, the stoppage was initiated by a red flag raised by Syscoin, a distributed network based on a fork of the Bitcoin protocol, that requested the suspension of the trading of its cryptocurrency. After a brief investigation, SYS confirmed evidence of odd trading behavior, however, they deemed their blockchain safe. As an overall precautionary measure, Binance removed all existing API Keys and requested that users create new ones. Trading resumed on Wednesday at 8:00 UTC.
