May Weekly Recap 1 April 28th – May 4th, 2020 Welcome to our 1st weekly recap for May. Overview      Crypto News GOLD PRICE SURPASSES $1,700 AS CENTRAL BANKS EXPAND STIMULUS The spot price of gold surpassed the $1,700 mark after dipping more than 1% on Tuesday. The rise comes as central banks announced plans to expand monetary stimulus and jobless rates soar. BITCOIN OUTPERFORMS S&P500 Bitcoin is now outperforming the S&P 500 for the first time since the market crash in March and the equities sell-off that started in February. In a big 24-hour move, BTC crossed $8,000 and is currently trading at $8,592, up 10.5% at the time of writing. The S&P 500 is up 2.9% at 2,946. FEDERAL RESERVE CHAIR SAYS “WE WILL NOT RUN OUT OF MONEY” On Thursday, Federal Reserve Chair Jerome H. Powell explained what the central bank of the U.S. is currently doing and what it is prepared to do in the future to help the U.S. economy fight the economic impact of the COVID-19 pandemic.Continue reading »

April Weekly Recap 4 April 21th – April 27th, 2020 Welcome to our 4th weekly recap for April. Overview      Crypto News TETHER MINTS $600M THIS MONTH Tether mints an additional $120,000,000 in USDT tokens Tuesday morning. This comes after Tether minted $480,000,000 last week, bringing the months total to $600,000,000. Tether has minted more tokens this month than the entire market cap of Ethereum Classic. Tether CTO, Paolo Ardoino claims that these new tokens are for “inventory replenishment” and will be used for future demand. BINANCE LAUNCHES CRYPTO PAYMENT APP IN AFRICA Binance said its social payments app Bundle would provide users across Africa with a fee-free means to store and transact in both cash and cryptocurrencies, through a new digital wallet that can be downloaded on their phones. BITTREX EXTENDS GLOBAL VISA/CREDIT Bittrex Exchange announced its significant global extension of Visa support accross 125 countries on April 20. In addition to making fiat deposits and trading directly using their Visa cards, users can now access further features suchContinue reading »

April Weekly Recap 3 April 14th – April 20th, 2020 Welcome to our 3rd weekly recap for April. Overview      Crypto News CENTRAL BANKS RECOMMENDED BANNING STABLECOINS Central banks have been pushing for heavy-duty regulation of centralized, privately-issued global stable coins. Fiat-pegged cryptocurrencies are coming under scrutiny, based on recommendations from the Financial Stability Board. INSTITUTIONAL INVESTORS POUR $498,900,000 INTO CRYPTO FUNDS New numbers from the digital asset management giant Grayscale show investors are collectively throwing big money into Ethereum for the first time, on top of record investment numbers for Bitcoin. According to Grayscale’s Q1 2020 report, institutions have been taking a serious interest in ETH. Spencer Noon, the head of crypto investments at DTC Capital, says the numbers show Ethereum has reached a turning point with high-net-worth investors. 5G COULD UNLOCK BLOCKCHAIN POTENTIAL Darren Sadana, CEO of Choice IoT (Choice Business Connections Inc.), an IoT management platform, told Decrypt that blockchain could prevent hacking, and predicts that most computer programming will transition to blockchain. “ As 5GContinue reading »

April Weekly Recap 2 April 7th – April 13th, 2020 Welcome to our 2nd weekly recap for April. Overview      Crypto News CRYPTO TRADING VOLUME RISES IN INDIA On March 4, India’s highest court quashed a Reserve Bank of India (RBI) order dated April 6, 2018, which prohibited banks from providing services to entities dealing with cryptocurrencies. Activity on exchanges immediately picked up. The activity on exchanges further improved after Yes Bank, India’s fourth-largest lender, collapsed on March 6, damaging confidence in the country’s banking system. The nationwide panic triggered by the Yes Bank crisis worked in favor of bitcoin, boosting Cashaa’s sales at a daily rate of 250 percent to 450 percent, according to data provided by the platform. RIPPLE INTEGRATION BRINGS INSTANT PAYMENT TO THAILAND Digital money transfer service, Azimo, has partnered with Siam Commercial Bank (SCB), the oldest bank in Thailand, to launch an instant cross-border payments service from Europe to Thailand through Ripple’s global payments network, RippleNet. FIDELITY EXPANDING INTO CRYPTOCURRENCIES Institutional investors at Fidelity Digital Assets canContinue reading »

April Weekly Recap 1 March 31st – April 6th, 2020 Welcome to our 1st weekly recap for April. Overview      Crypto News OPERA INTEGRATES .CRYPTO DOMAIN EXTENSION Opera now enables users to access decentralized web pages through a partnership with Unstoppable Domains. The collaboration entails Opera’s integration of Unstoppable Domain’s .crypto domain extension. This will allow the browser’s users to surf decentralized websites, as well as make cryptocurrency payments. MICROSOFT FILES PATENT FOR CRYPTO MINING USING HUMAN ACTIVITIES Microsoft has proposed a system that can mine cryptocurrencies using data collected from humans as they exercise or read an advertisement. The system could use physical exertion to mine cryptocurrencies: sensors could detect when the body is doing a physical task, such as a faster pulse, and use that data to unlock blocks. Scanners connected to the head could even use brainwaves, signals sent out during mental exertion, to mine for cryptocurrencies. BYRON REBOOT FOR CARDANO IS LIVE After more than 18 months of work, the Byron reboot was officially launchedContinue reading »

March Weekly Recap 4 March 23rd – March 30th, 2020 Welcome to our 4th weekly recap for March. Overview      Crypto News CARDANO LAUNCHES OUROBOROS Cardano launched its off-chain scalability protocol, Ouroboros Hydra, on March 25th, after 5 years of development. The protocol claims vastly increased scalability and low latency for the Cardano blockchain while using little storage on the network’s nodes. The solution also allows for applications such as micropayments, voting, insurance contracts, and other uses that require low fees or instant transactions. According to IOHK, Hydra could theoretically scale to a million transactions per second. In Hydra, each user who connects to the network generates 10 heads, which are throughput lanes for data and transactions. Because of that, the system reportedly gets faster and decreases its latency as it scales. VENEZUELA’S STRUGGLING INTERNET MAKES TRADING CRYPTO DIFFICULT The global coronavirus lockdown has put a strain on Venezuela’s internet, which could logically make crypto participation difficult. Already, within the first seven days of a shelter-in-place movement, Venezuelans haveContinue reading »

March Weekly Recap 2 March 15th – March 22nd, 2020 Welcome to our 3rd weekly recap for March. Overview      Crypto News COINBASE CARDS CAN NOW BE USED WITH GOOGLE PAY Coinbase announced Tuesday that Coinbase Cards can now be added to users’ Google Pay wallets, enabling crypto-backed payments from Google Pay-enabled devices, such as phones or smartwatches. Coinbase Cards launched its new Visa debit card for U.K. and European customers in April 2019. Holders can purchase everyday goods and services – up to £10,000 ($12,100) per day – with cryptocurrencies held in their exchange accounts that are instantly exchanged into the relevant fiat currency. The cards initially supported payments BTC, ETH, LTC and BCH. On November 2019, XRP, BAT, XLM tokens were also added to the roster. ARGENTINA’S GAS REGULATOR BUILT WITH BLOCKCHAIN Gasnet, a permissioned blockchain platform was launched Wednesday with approval from regulator Enargas. Running on an enterprise version of the RSK Smart Contract Network, Gasnet is designed to secure and speed Argentina’s chronically delayed gas certification processes.Continue reading »

March Weekly Recap 2 March 8th – March 14th, 2020 Welcome to our 2nd weekly recap for March. Overview      Crypto News ETHEREUM CONFERENCE ATTENDEES URGED TO TEST FOR COVID-19 On March 11, the co-founder of decentralized login service provider TorusLabs, Zhen Yu Yong (Zen), tweeted that he had been diagnosed with coronavirus COVID-2019. Zen urged people who may have been in contact with him during the ETHLondon hackathon or the Ethereum Community Conference (ECC) to take “extra precautions and/or get tested.” The coronavirus threat has impacted several major cryptocurrency conferences in recent weeks, leaving many crypto events canceled or postponed until later dates. CASH IS THE NEW SAFE HAVEN AS CRYPTO & GOLD CONTINUES TO FALL Liquidations set in on the cryptocurrency market the day after the U.S. announced European travel restrictions due to coronavirus fears Wednesday. Bitcoin is down 21 percent and Ethereum is down 27 percent over the past 24 hours. That’s more than the traditional markets, with the Standard & Poor’s 500 down nearly 8 percent. TradersContinue reading »

March Weekly Recap 1 March 1st – March 7th, 2020 Just like the January and February Report, our goal is to visually summarize the cryptocurrency market into an easy to understand and informative way. However, instead of the monthly duration, we will attempt to be more interactive with the market in a weekly format. Overview      Crypto News BAFIN CLARIFIES CRYPTO CLASSIFICATION IN GERMANY In a press release issued on Monday, March 2nd, 2020, the German Federal Financial Supervisory Authority (BaFin) clarified cryptocurrency as: “a digital representation of a value that has not been issued or guaranteed by any central bank or public body and is not necessarily linked to a currency specified by law and that does not have the legal status of a currency or money, but is accepted as a medium of exchange by natural or legal persons and can be transmitted, stored and traded electronically.” According to BaFin, the new classification echoes the guidelines of intergovernmental agencies like the Financial Action Task Force (FATF). BaFin’sContinue reading »

February Recap   COVID-19  The new coronavirus strain continues to spread across the globe, and infection rates are only increasing exponentially. The World Health Organization has re-affirmed that there are no current effective treatment, and the viral mutation is still being researched. By March 1st, the coronavirus, now named COVID-19, has infected more than 90K people across 90 countries around the world. Outbreaks in South Korea, Italy and Iran have been especially infectious. City quarantines and factory closures are still in effect, and economic relations are still being affected. Mining difficulty and hash-rate for cryptocurrencies such as Bitcoin has also been drastically influenced by the lack of production. Provided below is a visual representation of the comparison and differences between traditional markets and cryptocurrencies, and the continued effects of this virus outbreak has affected global economics for February. Overview Stock Indexes Traditional Stocks Cryptocurrencies Crypto News   Sources: reading »