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January 2013

Bitcoin Price | BTC Extends Rally On Strong Momentum, Now What?

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Bitcoin price

Bitcoin price

Bitcoin price is going up again on Wednesday, extending Tuesday’s monster rally of over 15%. Early Tuesday morning, BTC ballooned to about $5,080, breaking its long-term resistance level of $4,200. For months now since its infamous crash last year, BTC has struggled to surpass the $4,200 mark, and this begs the question as to whether the cryptocurrency pack leader is en route to its former glory.

At the time of writing, Bitcoin price is trading at $5,060, up 4.86%.

Is It a Steady Rally?

It is not clear what might have triggered the 15% spike, making it even harder to speculate if this is the beginning of a bullish trend or if this is just a one-time thing before prices retreat again below $3,200. However, if Bitcoin breaks out past the $5,200 mark in the coming days, the case for a bull market becomes much stronger.

Bitcoin enthusiasts like Alex Kruger believe that crypto is transitioning to a bullish trend.

“This is not a call. Not a matter of aging well or not. A break above $4,200 technically ends the bear trend that started Jan 2018. Facts don’t care about opinions. If strong selling resumes later on, that would represent a different trend,” commented Kruger

Bitcoin price has suffered a bearish trend for close to five months now, making Tuesday’s mysterious price surge the highest since November 19th. The crypto’s spike incited an upsurge of other digital coins like Ethereum, which rose by 25%; Bitcoin Cash gained 50%; and Litecoin went up by 40%.

Before you invest in cryptocurrency, though, consider the advice of certified financial planner Peter Mallouk: “What we’re going to see, most likely, is, we’re going to see cryptocurrencies collapse.”

>> PayPal Makes Blockchain Investment in Cambridge Blockchain

Elsewhere in the Industry

In what appears to be an optimistic move, Canaan Creative unveiled new mining equipment, including a next generation of A10 chips with a hash rate of 31TH/s. Crypto mining has been a deserted field lately, as the recent bear run made it difficult for mining enterprises to pull in a profit.

In related news, contrary to reports that swirled the web on April Fool’s day, the SEC has yet to announce its stance on VanEck and Bitwise’s applications for the launch of a Bitcoin ETF. The authority extended the application for another 90 days.

Featured image: DepositPhotos © kentoh

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Bitcoin Futures CME Trading Generates $100 Billion in Volume Since 2017

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Bitcoin futures

Bitcoin futures

One of the products that have become particularly important to the continued growth of the crypto industry is Bitcoin futures. The derivative product has become one of the most heavily traded crypto-based securities.

Key Drivers

The Chicago Mercantile Exchange (CME) revealed its actual figures with regard to this particular product yesterday. The futures contracts have been traded on the exchange since 2017, and one of the top executives revealed that the total volume of the trades has been pegged at $100 billion.

Tim McCourt, who is the Global Head of Equity Index Alternative Investment Products and Group Managing Director at the exchange, stated, “CME Bitcoin futures have surpassed $100 billion in total notional value traded since their launch in December 2017.” It is an indication of the sort of money that has come into the crypto market and specifically for Bitcoin futures.

Moreover, the CME represents the mainstream financial sector, and such trading volumes indicate that institutional money has come into the sector in a big way over the past few years. For many years, crypto experts have stated that the entry of institutional money could lead to a significant rise in Bitcoin prices, and it remains to be seen how it all pans out in the coming months.

>> Bakkt Bitcoin Options Trading Volume for Last Week was Just Zero

McCourt also stated that the futures contracts in question have evolved significantly over the past two years, and currently, CME operates one of the most liquid Bitcoin derivatives markets in the world. High liquidity is the sign of a mature market and indicates that the price of a security is now going to change massively if traded frequently. Institutions generally look for such securities, and it is possible that the liquidity in the exchange eventually led to such high volumes of trading over the past two years. The Bitcoin futures market is still new, but it has truly taken off over the past year or so.

Featured image: DepositPhotos © EdZbarzhyvetsky

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LiteLink Enters Into Strategic Alliance with SPARE to Bring the Virtual ATM Network to uBUCK Customers in the US LiteLink Enters Into Strategic Alliance with SPARE to Bring the Virtual ATM Network to uBUCK Customers in the US

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VANCOUVER, British Columbia, June 24, 2019 (GLOBE NEWSWIRE) — LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT)(FRA:C0B)(OTC:LLNKF), a key player in logistics platforms and payment solutions, is pleased to announce that its wholly-owned subsidiary uBUCK Technologies SEZC (“uBUCK”) has signed a strategic alliance with Spare CS, Inc. (“SPARE”) to bring virtual ATM capabilities to uBUCK customers.

SPARE is a mobile ATM app that allows users to convert their digital balance into cash at registered merchants without the need for a debit card, credit card, or a brick and mortar bank.

The agreement will see SPARE provide QR code processing technology to uBUCK, giving uBUCK customers the ability to seamlessly convert their uBUCK into cash at 2,500 participating merchants in Los Angeles.

“We are extremely excited to partner with SPARE, a fintech startup that recently received a vote of confidence in the form of a $500,000 investment from Mark Cuban on Shark Tank,” said uBUCK CEO James Youn. “This alliance will not only provide uBUCK customers with more options for converting their funds, but it also aligns with our goal of serving the unbanked and underbanked communities.”

SPARE gives merchants the ability to convert their cash registers into an ATM, increasing revenue and foot traffic. For customers, it offers a more secure, convenient and affordable option for dispensing cash.

“We see a great opportunity in the strategic alliance with uBUCK, and digital wallets alike, that aim to serve the unbanked and underbanked populations of the world,” said SPARE CEO D’ontra Hughes. “We see such strategic alliances as integral to the widening of services for groups of the population that often pay exorbitant fees for some of the most basic financial services. We are honored to extend our service to users of a platform that can greatly benefit from our network and its ever-growing expansion across the United States.”

About LiteLink Technologies Inc.

LiteLink Technologies Inc.(CSE:LLT)(FRA:C0B)(OTC:LLNKF) is a major player in developing world-class enterprise platforms that utilize artificial intelligence, blockchain, and predictive analytics to solve fragmented and outdated technology problems in the logistics and digital payment industries. Our flagship 1SHIFT logistics platform offers real-time transparency and tracking which allows brokers, shippers, and carriers to track shipments and settle payments in real-time. For more information about LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT)(FRA:C0B)(OTC:LLNKF), please visit litelinktech.com. If you would like to know more about the 1SHIFT logistics platform, please visit 1shiftlogistics.com.

About uBUCK Technologies SEZC

Based in Georgetown, Cayman Islands, uBUCK Tech is a fintech enterprise that specializes in decentralized digital payments and wallets. uBUCK Pay and Streambucks are P2P payment platforms offering consumers, businesses and merchants a fast, commission-free and highly secure alternative to traditional payment methods. uBUCK and Streambucks are stable utility tokens that are backed by the U.S. dollar via pin voucher purchases within the uBUCK Pay app or at participating resellers. Customers may load a uBUCK debit card and make online and offline purchases and send payments around the world for free.

About Spare CS, Inc.

SPARE is a cardless, “free to withdraw,” virtual ATM network, that effectively turns any business into an ‘STM,’ or ‘SPARE Teller Merchant’ who support the network by dispensing cash from the point-of-sale system to users who request cash outs from SPARE’s mobile application. The network provides users with immediate access to cash while eliminating withdrawal fees and helps to build community by increasing foot traffic to local merchants and creating peer-to-peer exchange rather than person-to-machine exchange.  Using patented mobile technology, SPARE allows users to enter any participating location and withdraw cash in seconds and for free by tapping their mobile device on the countertop chip reader.  No debit or credit card is required, as users may access funds from a growing range of services which today include any debit or credit card as well as Apple Pay, Google Pay, PayPal, Venmo Debit, CashApp Debit, and Coinbase wallets.

Forward-looking Statement

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the nature of the business of LiteLink Technologies Inc. (CSE:LLT)(FRA:C0B) (OTC:LLNKF), and other factors or information. Such statements represent LiteLink’s current views with respect to future events and are necessarily based upon a number of assumptions and estimate that, while considered reasonable by LiteLink, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. LiteLink does not intend and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules, and regulations.

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LiteLink Technologies Opens Digital Payments Division in Tech City and Hires James Youn as President LiteLink Technologies Opens Digital Payments Division in Tech City and hires James Youn as President

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VANCOUVER, B.C., March 01, 2019 (GLOBE NEWSWIRE) — LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT)(FRA:C0B:FF), a key player Logistics & Payment Systems with Artificial Intelligence is opening their flagship digital payments division through one of its wholly-owned subsidiaries. uBUCK Technologies SEZC (“uBUCK Tech”) will be located in Tech City Cayman, a special economic zone by Cayman Enterprise City for fintech companies. uBUCK Tech has begun development for uBUCK Pay, an online payments platform and pin voucher solution that serves as a payment alternative for consumers, businesses and merchants. The solution will allow uBUCK Pay account holders to make online payments and send worldwide transfers within minutes without any transfer fees. Pin vouchers may be purchased within the uBUCK Pay app or at participating resellers with or without a credit card.

“The uBUCK Pay app will be a major benefit for consumers that do not have a credit card, have poor credit, and/or do not have access to physical accounts and debit card programs. Merchants will also be pleased to add a new payment method with lower merchant transaction fees than most major credit card companies. It is time to bring control back to hard-working individuals and business owners”

says Ashik Karim, CEO of LiteLink. uBUCK Tech is scheduled to release a private closed beta in March 2019.

James Youn has been hired as President and CEO of uBUCK Tech. Mr. Youn is a licensed CFA Charterholder and previously worked as the President of Cayman National Securities Ltd. and as a Senior Portfolio Manager at Questrade Wealth Management Inc. Ashik Karim says, “Mr. Youn brings a wealth of banking and trading experience to our team and we are extremely confident that he can use his knowledge to build one of the fastest and safest digital payment platforms in the world.” Mr. Youn’s immediate initiative is to hire a management and sales team in Grand Cayman to drive app installs and to increase consumer and merchant awareness.

“The decision to open an office in Grand Cayman was a logical step in our business growth strategy,” said James Youn. “Besides the benefit of a growing fintech sector in Tech City Cayman, we feel that adding a digital wallet to LiteLink’s suite of products is a major benefit for consumers without credit cards to pay bills online and to make worldwide transfers without any fees. In addition, uBUCK Pay is a perfect complement to our flagship product 1Shift Logistics, since many truckers do not have credit cards. The uBUCK Pay solution gives truckers the ability to pay their gas and parking bills and send money overseas to friends and family.”

About LiteLink Technologies Inc.

LiteLink Technologies Inc. (CSE:LLT)(FRA:C0B:FF) provides enterprise level solutions utilizing artificial intelligence and predictive analytics to solve the logistics industry’s fragmented and outdated technology problem. LiteLink is creating a unified communications platform for tracking shipments, disputes, and errors to increase efficiency and reducing costs for 3PLs, carriers and shippers. Find out more about the Company at litelinktech.com and the 1Shift Product at 1shiftlogistics.com.

About uBUCK Technologies SEZC

uBUCK Pay is a worldwide online payments platform and pin voucher solution that serves as a payment alternative for consumers and merchants. uBUCK Pay is a secure and fast method for making payments and transfers and serves as a digital alternative to traditional payment methods like checks, money orders and wire transfers.

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