📮 02-10-2019
📈 MarketCap: $223 B
📊 24h Mcap %: -0.75%
⚠️ Bitcoin Dom: 66.8%
Active Coins: 2,637
24h Vol %: -13.57%
24h Vol: $42 B
Ethereum's native cryptocurrency is reporting a slight monthly gain, outperforming bitcoin's double-digit price slide by a big margin. BTC posted a monthly loss of more than 16% – the biggest since November 2018. Meanwhile, the total market capitalization of all cryptocurrencies has currently shed nearly 13.7 percent on a month-to-date basis, standing at $215 billion at press time. ETH, however, is currently reporting a monthly gain of 0.30%.
Facebook’s crypto project Libra will potentially create a “shadow banking” system, according to the banks at the Federal Advisory Council (FAC). Banks expressed their negative stance towards the project, outlining the risks of potential decline in demand-deposit accounts and bank payment volumes. The banks argued: “As consumers adopt Libra, more deposits could migrate onto the platform, effectively reducing liquidity, and that disintermediation may further expand into loan and investment services.”
Bayern LB, one of Germany’s top banks, has published a report in strong support of bitcoin superseding gold, predicting a price of $90,000 per BTC post bitcoin’s halving in 2020. Within a report entitled, “Is bitcoin outshining gold?” the bank’s researchers delved into the stock-to-flow ratios of gold and bitcoin, specifically regarding the impact of reduced supply on asset value and calling it ‘Ultrahard Money’
Swiss Digital Exchange (SDX), a digital asset trading platform by Switzerland’s principal SIX Swiss Exchange, will reportedly launch its initial digital offering (IDO) in 2020. The not-yet-launched SDX has reportedly set up a global consortium of financial institutions to back its IDO in the middle of 2020. Thomas Kindler, who took over as SDX CEO, elaborated that the consortium comprises a group of investors such as banks and market infrastructure providers intending to legitimize the technology and raise capital.
A year ago, the ICO seemed to be "maturing." Unfortunately, a year later, signs are pointing in the opposite direction. Simply looking at the raw project count reveals a pretty precipitous drop off. Even after the onset of the bear market in January 2018, ICOs were still happening at a rate of well over a hundred each month, but by 2019 the flow of projects had dwindled to almost nothing. In fact ICO Watch itself, the site that was the source of this data, seems to have gone out of business.
The SKALE Network, an Ethereum scaling project supported by SKALE Labs, has raised $17.1 million in fresh funding. Investors in the round included Winklevoss Capital, Arrington XRP Capital, ConsenSys Labs and Recruit Holdings, among others. SKALE Labs CEO Jack O’Holleran told that the funding was once again via a Simple Agreement for Future Tokens (SAFT) sale. O’Holleran told that the mainnet will be ready for launch in late Q4 and will be released at the time or early Q1.
Former employees of JPMorgan, Intel and TrustToken have unveiled a dollar-backed stablecoin with a twist: revenue sharing for the institutions that use it. Their new company, Global Currency Organization (GCO), developed the USD Digital (USDD) token. It aims to break through with exchanges, traders and OTC desks looking for a stablecoin product.The USDD is a U.S. dollar-backed stablecoin that would provide users with more gateways to move between fiat and cryptocurrencies around the world.
The enterprise payments blockchain company, Ripple, and its xRapid technology, saw transfers worth $18.9 million in September this year to Mexico and the Philippines. The growth, when compared to August’s numbers, was a steep one as the figures that month were below $11 million. According to data released by the World Bank, Mexico and the Philippines are among the world’s top remittance recipients, with figures accounting for $36 billion and $34 billion, respectively.
Fees for a standard ethereum transaction are now down to $0.004, down from as much as 20 cent a few days ago. Likewise the congestion queue has dropped and continues to drop from more than 100,000 pending transactions, to now less than 40,000. That’s after a ponzi scheme smart contract met its ponzi end, drained to 0 eth from a previous 54,000 eth, worth about $9 million. The ponzi functioned by locking eth for 5 days, after which you could withdraw with interest up to 1% a day.
Mark Zuckerberg, the CEO of Facebook, has made some comments about project Libra, the digital currency they are working on. The news outlet Verge has released a series of discussions between Mr. Zuckerberg and employees at Facebook, where CEO of Facebook said: “We have a test going in India. We’re working in Mexico and a bunch of other countries to have this rolled out broadly. The hope is to get that rolled out in a lot of places with existing currencies before the end of this year.”
A new survey of 5,000 Americans between the ages of 18 and 65+ reveals the American population's position when it comes to Bitcoin ownership. 64.8% of respondents stated that they neither owned nor planned on buying any Bitcoin. Over 21% of all voters answered that they have never heard of it, while 7.3% do not own any at the moment but are planning to buy. 6.2% of all participants voted that they already purchased some.
