Taotao Cryptocurrency Trading Service Is All Set For the May 30, 2019 Launch

Maheen Hernandez By Maheen Hernandez May 28, 2019 Off
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David Chaum, the founder of Elixxir, stated, “Digital privacy is a “critical and necessary ingredient.”  However, according to Chaum, the privacy factor is not executed successfully in the cryptocurrency industry.

“Someone like myself who has worked in government and high stakes industrial security knows elliptic curves are a joke compared to the capabilities of a national laboratory. When they want to take these down, they will”

Chaum states that Elixxir is capable of processing more than 100,000 transactions per second, which is more than the transaction capabilities of Bitcoin.

The Taotao cryptocurrency trading service is all set for the May 30, 2019 launch.  Internet giant Yahoo has 40% stakes in the company.  The trading service will be first provided for Bitcoin (BTC) and Ether (ETH).  Margin trading will be provided in XRP, Litecoin (LTC), and Bitcoin Cash (BCH).

The company is rumored to have paid 2 billion yen for the stake. Taotao has previously planned to make its market debut in mid-May; however, it was delayed without any explanation.  The recent bull market has rejuvenated the interest in cryptocurrency among Japanese investors.  In the past week, several domestic exchanges in Japan has reported a multi-fold increase in account openings in the exchanges.

Regulators are continuing to keep a check on the market practices following repeated hacks in the industry.  The Japanese Financial Regulator has stated that they will inspect the AML processes in the exchange before the international inspection from the Financial Action Task Force.

Binance might as well launch margin trading following the major market update. It is all-time high traffic at Binance following the Bitcoin boom. In the past 24 hours, Binance has processed more than $3.07 billion worth of cryptocurrencies in the past 24 hours.  The combined trade processed by all other exchanges was at $103 billion.

Retail interest is catching up in the market.  Strong volume is required for a strong rally.  A recent tweet read:  “Had some system performance bottlenecks, trading saw some delays, fixed now. Withdrawals also saw some delays, fixed as well, but there is a backlog will take another 15 minute to drain.”

The volumes of trade in Binance confirm the sentiment.  Tom Lee, explained that by the time BTC would touch upon Quintuple digits that the FOMO will activate among those who say “Bitcoin as dead forever.”

The $8,200 for Bitcoin has low technical support.  If a pullback sets in, it might be a short-term top.