Study Allegedly Finds $3B Worth of Faked Cryptocurrency Volumes
On March 10th, a study published by a cryptocurrency trader and researcher, Sylvain Ribes, states that allegedly $3 billion worth of cryptocurrency trade volumes are concocted. The study also reveals some curious information about trading volumes that stemmed from exchanges like OkEx and Huobi, which may be falsifying their trade volumes. Sylvain Ribes stated:
“I found ridiculously massive discrepancies between exchanges. Not the kind that can be easily hand-waved away (“oh well, their users must behave differently”), but the kind that can only be explained by some figures being overstated as much as 95%.”
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Wall Street Strategist Creates “Bitcoin Misery Index”
Tom Lee, a Wall Street strategist covering Bitcoin and the co-founder of Fundstrat Global Advisors, recently created the “Bitcoin Misery Index.” The index works like most sentiment indicators and is meant to be a contrarian one, which means that when it’s low, it’s time to buy the cryptocurrency.. The Index takes into account several factors such as the number of winning trades out of the total and the cryptocurrency’s volatility. Lee stated:
“The BMI [Bitcoin Misery Index] is telling us to keep the negative headlines in perspective. When the BMI is at a 'misery' level, future returns are very good."
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Bittrex: We’re Compliant With SEC’s ICO Rules
The US-based cryptocurrency exchange Bittrex issued a statement saying that it is compliant with federal regulations governing securities trading. The exchange, which is headquartered in Seattle, assured its customers that its token review process is compliant with rules that prohibit companies from creating trading markets for unregistered securities. The statement reads:
“As a U.S.-based digital currency exchange, Bittrex is committed to incubating new blockchain technology projects and offering innovative, compliant digital tokens to our customers. Bittrex uses a robust digital token review process to ensure the tokens listed on the exchange are compliant with U.S. law and are not considered securities.”
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Kind Ads: The Next Generation of Online Advertising
Kind Ads is a decentralized ad network platform that seeks to make the online ad experience more pleasant for all those involved, bringing more revenue for publishers with high-quality ads, fewer fees for advertisers and more effective, less intrusive for the users. Kind Ads plans to do this by cutting out the middleman, taking in no fees as a platform whatsoever. Kind Ads aims to eliminate the middleman by creating a decentralized ad network in which publishers and advertisers interact directly in a transparent manner, exchanging subscriber access ethically and making tracking information accurate and quick.
In this ecosystem, advertisers will find publishers based on subscriber quality. However, the most rewarding aspect of Kind Ads will be its tokenized rewards pool in which KIND, an Ethereum-based token, will be awarded to users based on their behaviour and how much information they are willing to share. The reward pool is based on the website's traffic quality, so effective campaigns lead to more rewards for the user.
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