Coinbase introduces direct crypto conversion; Bitcoin price surges; China developing its own Bitcoin; Bitmain IPO hesitation claims rejected; Trading data firm raises $3 million

Coinbase now allows direct crypto-to-crypto trading on its platform

The largest US-based cryptocurrency exchange, Coinbase, has recently announced that they will allow their users to convert their coins for another crypto directly. The new feature comes as part of the day 8 of the “The 12 Days of Coinbase” program, and its goal is to make trading on Coinbase easier, quicker, and cheaper than to make two separate transactions.

The feature is called “Convert”, and it allows direct conversion between Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, and 0x. While initially only available in the US, it is expected to reach all 34 countries in which Coinbase operates.

Bitcoin (BTC) value surges on its all-time high anniversary

While Bitcoin recovery has been expected and announced throughout 2018, investors were still caught off-guard when the bearish market suddenly got replaced by a new rally. The event, which came on the anniversary of Bitcoin’s all-time high, has brought Bitcoin from $3,200 to over $3,600 at the time of writing.

The rest of the market followed, with EOS being the coin with the largest gains when it comes to the top currencies. While it is unlikely that this change is an actual period of recovery, investors remain optimistic, and BTC trading has been continuously growing in the last 24 hours.

China’s government allegedly working on its own version of Bitcoin

According to new reports, the People’s Bank of China is trying to create its own cryptocurrency prototype, likely in an attempt to replace Bitcoin, and maybe even the USD. The news has come as a surprise to a lot of investors, as it is known that China is not particularly crypto-friendly. The country has been continuously hostile to cryptocurrencies, as well as activities that include them, such as mining, trading, crypto-based loans, as well as ICOs.

Even the idea of Bitcoin has always been something that the country did not like as it cannot be controlled. However, it still made a move to register 78 crypto patents, 44 of which are related to blockchain technology.

Bitmain IPO hesitation is nothing but rumors, claims Hong Kong Stock Exchange

According to the new official statement from the HKEX (Hong Kong Stock Exchange), the alleged Bitmain hesitation in regards to having an IPO is nothing but rumors. However, they still refused to comment on the status of the crypto mining firm.

It was recently speculated that the exchange might be hesitant to host an IPO due to the unfriendly market conditions in terms of crypto mining. The volatility of the crypto industry has allegedly led to closing down mining farms, and miners were reportedly leaving the industry.

In addition, only a month ago, reports stated that Bitmain might be facing a $5 million class-action lawsuit due an alleged misuse of its customers’ mining rigs.

Trading data startup Nomics secures $3 million from Coinbase Ventures and other investors

Nomics, a crypto data startup, has just announced that it managed to secure as much as $3 million in funding from various investors. The exchange aims to flesh out its engineering team, but also to continue working to index 95% of the data regarding the crypto asset trading.

The startup also mentioned some big names on its list of backers, including Coinbase Ventures, Digital Currency Group, CoVenture Crypto, CityBlock Capital, BitGo’s Ben Davenport, King Capital, and others.

The company has stated that nearly every one of its employees is currently working full-time on development, which should serve as an indication of the amount of data that the startup is working on indexing.

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