📮 14-10-2019
📈 MarketCap: $228 B
📊 24h Mcap %: -0.89%
⚠️ Bitcoin Dom: 65.5%
Active Coins: 2,576
24h Vol %: 6.43%
24h Vol: $42 B
One major player in the cryptocurrency market just withdrew 1,000 BTC from Bitstamp to an external wallet, the transaction was recorded by Whale Alert on twitter. Given the stability in Bitcoin’s price, it looks like some whales are taking notice, which seems to be a clear sign that we are in an accumulation period. The 1,000 BTC was sent to a completely new address. This means that it was made specifically to accumulate Bitcoins. Speculations are, this whale is simply moving their BTC to a ‘HODL wallet.’
Former Commodity Futures Trading Commission (CFTC) chairman Christopher Giancarlo, has stated that he expects 2019 to be the year when regulators may start considering some response to cryptocurrencies. Giancarlo also believes that regulators will increase their involvement in the crypto space this year because of “a combination of Libra and the prospects for central bank digital currencies.” Furthermore, Giancarlo also suggested that “the time has come for thoughtful consideration of a digital dollar.”
China’s firm grasp on personal and corporate data is set to become even tighter, as the government extends its control over foreign entities. As governments wrestle over the power of control, the decentralized narrative is starting to make more sense. The new technology, like blockchain and cryptocurrency while still early stages, can provide the infrastructure for citizens and companies to operate without running the risk of having their privacy invaded or their assets seized.
After a decade of unprecedented quantitative easing, the appeal of a sound currency is returning. Now, the Dutch Central Bank has reiterated some of the messages of gold bugs, stating that gold may become the basis for an economic restart. While BTC is more volatile than gold in terms of market prices, it is also much more agile. BTC may be used to make global payments, and despite the scrutiny of the network, it still offers a way to move significant funds overseas.
"Hurun China Rich List 2019” published by Hurun Report, features 12 local crypto magnates. The list includes, Bitmain’s Zhan (net worth of over $4.2 billion) — has secured for himself the 100th position on the list. Binance’s Changpeng Zhao is ranked 195th with $2.5 billion in personal wealth. Founder of OKEx Star Xu took the 398th spot on the list with $1.4 billion. Huobi’s Li is placed 530th with over $1 billion. Founder of mining ASICs producer Ebang, has reached the 684th place.
The G7 group of nations has reportedly drafted a report which says that “global stablecoins” pose a threat to the global financial system. As per draft report from the G7, outlined the various risks associated with digital currencies. It also said that, even if member firms of the governing Libra Association addressed regulatory concerns, it may not get approval from the necessary regulators. The G7 also states that global stablecoins with the potential to scale rapidly threaten financial stability if users lose confidence in the coin.
ICONLOOP, a South Korean blockchain startup that provides digital identification services, received its first venture capital investment through an $8 million Series A funding round, the company said. Proceeds will be used to launch its digital identification service “my-ID” and expand a group of expected clients called my-ID Alliance, which currently consists of 27 companies, including banks, security firms, e-commerce companies and manufacturing companies. The service will be launched during the first half of 2020 for commercialized uses.
Litecoin has just turned eight years old. LTC was launched in October 2011 and has stood the test of time. Back then just seven cryptocurrencies were listed and today only two of them still exist in the top 300: BTC and LTC. Litecoin creator, Charlie Lee, celebrated this achievement with a birthday tweet for the word’s sixth largest crypto asset. "Litecoin network has been up and running continuously for the past 8 years with zero downtime. And in that span of time, over $500,000,000,000 worth of LTC have been transacted."
TRON's network-to-value ratio is almost always higher than that of Bitcoin, Ethereum, and Litecoin, indication that it could be undervalued. The NVT Ratio is used to measure the ratio between the network value of a digital asset and the daily transaction volume in USD. The NVT Ratio of a cryptocurrency gives analysts a fairer measuring to compare the underlying value of a digital asset through its on-chain transaction volume against its open market value.
There are a number of costs associated with using bitcoin and while it is still far cheaper than using traditional banks, they still need to be accounted for. Storage of the digital asset also has a cost and it has been rising. Independent bitcoin developer Tamas Blummer has summarized these often overlooked expenses. The cost is known as a ‘carry for other assets’ and according to the post is currently at 2.1% per annum for BTC.
Five major automakers — BMW, General Motors, Ford, Renault and Honda — will start testing a blockchain car identification and payment system next month in the United States. As per report the partnership aims to test the vehicle ID system developed under the Mobility Open Blockchain Initiative. As part of the project, cars are assigned digital IDs linked to ownership, service history and a wallet allowing the vehicle to automatically pay fees without specialized hardware.
