CoinNess Daily Briefing July 12: Binance To Begin Testnet For Futures Market By The End Of July

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Friday, July 12, 2019

CoinNess.com Market Surveillance July 12: BTC Trading Above $11600 Level
As of 11:00 (UTC) on July 12, the global index of Bitcoin (BTC) price shows an uptrend, standing above the $11,600 level. Currently, BTC marks $11,660.69, registering an increase of 0.99% in the past 24 hours.
The CoinNess.com Bullish vs. Bearish Indicator shows our four-hour technical bias on BTC is "Sell" with nine indicators sending out a selling signal, five showing a neutral signal, and four indicating a buying signal.
The broad market experiences an uptrend, with 75 out of Top 100 cryptos by market cap rising.
The global market cap reads $319.06 billion, and the 24-hour trading volume is $83.25 billion.
Major Coins
1. BTC quotes show 11,660.73 USDT on Binance, $11,663.06 on Bitfinex and $11,694.07 on Coinbase Pro;
2. CoinNess.com Market Index presents quotes for major cryptocurrencies besides BTC as following:
ETH marks $276.58 (+1.61%);
XRP marks $0.344 (+3.16%);
LTC marks $105.45 (+3.30%);
BCH marks $352.65 (+2.88%);
EOS marks $4.82 (+3.55%);
ETC marks $6.78 (+2.32%).

1. ZHAO Changpeng, Binance CEO, held an Ask Me Anything (AMA) session on Twitter's live video streaming, saying that Binance will begin a testnet for futures market by the end of this month.

2. The Litecoin Foundation announced on July 12 that Litecoin has become the “Official Cryptocurrency of the Miami Dolphins.” As cryptocurrency continues to be adopted by businesses, institutions and individuals across the globe, this unique partnership creates a powerful alignment between Litecoin and one of the world’s most recognizable sports brands in the Miami Dolphins.

“We’re thrilled to see Litecoin become the official cryptocurrency of the Miami Dolphins,” said Charlie Lee, creator of Litecoin and managing director of the Litecoin Foundation. “This collaboration propels Litecoin in front of an audience of millions of people around the world at a time where adoption of cryptocurrencies continues to gain momentum and the ecosystem is able to support real world use cases in ways previously not possible. We see this as a powerful way to raise awareness and educate people about Litecoin and cryptocurrencies on a tremendous scale.”

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3. On July 12 (UTC), U.S. President Donald Trump vented on Bitcoin and Facebook’s Libra on Twitter out of blue. Stating that he is “not a fan of Bitcoin and other cryptocurrencies,” he believes they, along with Facebook’s Libra are not money or currencies, thin on standing or dependability. He further concluded that the U.S. dollar is the most dominant currency across the world and the only one real currency in the U.S.
Surprising to none, Trump’s declamation stirs up relentless remarks from the blockchain and cryptocurrency sector. CoinNess compile the most recent and heavyweight voices here to paint a broad picture.

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4. Cryptocurrencies took the center stage again during Federal Reserve Chairman Jerome Powell's second day of testimony before the U.S. Senate. Powell indicated that he had not seen Bitcoin used as a payment method. However, he noted, Bitcoin is already increasingly taking over gold in the global economy as a store of value.
Lawmakers also mentioned their uneasiness regarding Bitcoin's possible long-term challenge to replace the U.S. dollar as the world reserve currency. Powell admitted that this was in the realm of possibility, albeit only in the long term. He also emphasized that the U.S. should not assume that the dollar's status as a reserve currency would last forever.
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1. Bitpoint, a Japan's FSA-registered cryptocurrency exchange, has announced that it has been hacked, losing about 3.5 billion yen ($32 million) in five cryptocurrencies - Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC) and XRP. As reported by CoinNess.com, Bitpoint has suspended all services, including trading and deposit/withdrawal, starting at 01:30 (UTC) on July 12.

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2. As to Facebook's Libra, ZHOU Xuedong, chief of the Financial Stability Bureau of the People's Bank of China (PBoC), stated that the PBoC pays high attention to it.
The chief stressed: "Regardless of whether it is a legal currency or a virtual currency that has emerged in recent years, there is a consensus that they must be regulated, such as regulations on anti-money laundering, anti-terrorist financing, and information protection. In China, the legal currency is RMB, and only RMB is legal tender," he stressed.
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Question: What is the Mining Difficulty?

Answer:
Mining difficulty is defined as a measure of how hard it is to maintain and add to the blockchain.

To be more specific, the mining difficulty is determined by several factors. First of all, there is a global block difficulty, which forces valid blocks to have a hash below this target. Second, there is the factor of how many people are actively mining on the network alongside oneself. Last but not least, it is possible the mining pool itself uses a "share difficulty" setting for mining a particular cryptocurrency.

Disclaimer: CoinNess.com or anyone involved with CoinNess.com will not accept any liability for any trading loss or damage as a result of reliance on the information contained within this email including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. CoinNess.com would like to remind you that the data contained in this email is neither necessarily real-time nor accurate. All crypto prices, Indexes, Futures, buy/sell Signals and Forex prices are indicative and not appropriate for trading purposes; furthermore they are not provided by an exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price. CoinNess.com doesn't bear any responsibility for any trading losses you might incur as a result of using this data.

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