Crypto Brief Dec.20: Bitcoin is setting up for a new bull run plus Ripple, ETH, IOTA, ADA, USDS, TRX, IOST, THETA, Stratis, Binance, MAkerDAO news

From Bitcoin’s new bull cycle to Ethereum is rated as better than EOS, Tron for Dapp. These are some of the prominent news in the crypto space.

Crypto Brief Dec.20

Bitcoin News

After the big midweek pump, Bitcoin held over $ 7,000, which is important for the larger context. Over the past 24 hours, the BTC price has found a stable foothold in the $ 7,150 area and continues to consolidate there. The most important thing right now is to maintain the major support in the area between $ 6k.

A short squeeze at $ 6,500 prevented what would undoubtedly be a giant dump to $ 5k (where there are the 200-week moving average and some Fib retracements).

The $ 6,500 zone is an important long-term support area and the most traded price for Bitcoin for 2018. Industry analysts like Peter Brandt and Tuur Demeester, the founding partner of Adamant Capital, acknowledge this key price.

Meanwhile, futures contracts were trading at record highs indicating a large increase in organizational benefits. Grayscale has also witnessed a major increase in the Bitcoin line, signaling the same thing.

In addition, there are only 146 days left until the Bitcoin halving event takes place. FOMO will probably start building sooner when we turn to 2020. When the block reward and inflation rate are halved, the stock to flow rate will double, which is very important for investors in terms of scarcity and relative demand.

The new bull market may be very close, it will all depend on whether Bitcoin can end the year above $ 6,500.

Bitcoin Futures trading broke records

Futures trading volume for Bitcoin increased significantly for most major exchanges. According to Skew, transaction volume has increased significantly as Bitcoin increased. It is a sign that optimism is likely to return to the market.

Bitcoin ‘Supercycle’ is about to happen

Robert Breedlove, CEO of a cryptocurrency hedge fund based in California Parallax Digital
said Bitcoin seems to be preparing for a super-long supercycle, which could take BTC price skyrocket to 3,239% to $ 240,000.

Breedlove analyzed Bitcoin’s previous price history and predicted that the limited supply of coins would play a key role in a long-term rally that will take place over the next few years.

Ethereum News

A recent industry review from DappRadar paints a more rosy picture for the Ethereum ecosystem than the gloomy state of current prices.

Decentralized app metrology firm has released the industry’s first batch of the year focused on dApp platforms. Comparing the top candidates, concluding that Ethereum is still dominating in use and development.

Ethereum remains the most important smart contract blockchain platform with a daily user base growth of 118% in 2019. It is also the only platform capable of expanding into four dApp areas: Defi, Exchanges, Games, and Gambling.

The two closest rivals, EOS, and Tron do not have such a good rating. EOS loses performance due to network spamming resulting in a 48% reduction in daily user activity.

Stratis News

Stratis price is in the process of breaking out of the major resistance area. However, the breakout has no significant power.

On December 15, Stratis prices broke out from the four-month trading range. After confirming the resistance is support, it is in the process of breaking out of the next resistance area.

Trader Devchart outlined this motion in the Stratis price that “Breaking out. Expecting some nice moves”.

THETA News

Theta Labs talked about integrating Theta Network into smart TVs at Samsung Developer Conference sdc2019. After successful testing on Samsung smart TVs, they are currently exploring the commercial applications of the Theta protocol in TVs.

Tron News

TRON began testing anonymous transactions and accepts subscriptions on GitHub TRON users will soon be able to start unknown transactions.

IOTA News

IOTA has released Spark, a web wallet that can be set up in seconds and deleted in the same amount of time. “The idea is that you use the wallet for small amounts of funds, for a short period of time, and then you “burn” it, wiping the seed and transaction history,” IOTA explained in a post blog.

The main feature of Spark is privacy. Whenever a Spark wallet is burnt, its transaction history will disappear forever. Burning does not delete data from IOTA’s ledger, but it does delete data from a wallet. This ensures that anyone who uses your smartphone or laptop cannot see your transactions (or steal your money).

Meanwhile, IOTA just also released a new and year-end developer update, including upgrades to the new IOTA & Roadmap protocol that highlights the milestones across Technological maturity, User adoption, Coordicide & Qubic.

Binance News

Binance Futures launches BCH/USDT perpetual contract with up to 75x leverage. Users are able to select between 1-75x leverage. Binance adjusted the fee structure of Binance Futures starting from 2019/12/20 08:00 AM (UTC).

Binance lists FTX Token (FTT)

Binance has completed a strategic investment in FTX and now listed FTX’s Token (FTT) and opened trading for FTT/BNB, FTT/BTC and FTT/USDT trading pairs at 2019/12/20 3:00 AM (UTC). Deposits for FTT are live.

FTT Listing Fee: 0 BNB.

Binance adds trading pairs for Turkish lira (TRY)

Binance adds trading for the Turkish lira (TRY) in the USDⓈ trading market and open trading for BNB/TRY, BUSD/TRY and BTC/TRY trading pairs at 2019/12/20 10:00 AM (UTC). TRY deposits are now open.

Binance now supports Paxful

Binance has partnered with Paxful to provide the users with even more options to purchase crypto using fiat currencies.

MakerDAO News

Maker Foundation, the organization behind most of the development of the Ethereum MakerDAO application, announced in a December 19 post that venture capital funds Dragonfly Capital Partners and Paradigm bought MKR worth $ 27.5 million, about 5.5% of the total MKR supply.

Ripple News

SBI, Ripple’s partner, said the amount of money flowing through international remittances reached 800 billion yen in 2019, equivalent to about 7.3 billion dollars.

The Japanese-based financial giant invested in Ripple in 2016 and recently launched the money transfer service provided by Ripple from Japan to Vietnam.

The company said it plans to start using XRP to transfer money to Southeast Asia. The company is also considering a plan to provide XRP dividends to its shareholders.

Ripple’s XRP is “too-big-to-jail” coin

Ryan Selkis, CEO of data provider Messari called Ripple’s XRP a “too-big-too-jail” coin in the recent blog post “20 Bits of Investment Advice“. His skeptic views on the top cryptocurrency have remained unchanged since the previous year.

Selkis mentioned that XRP has an amazingly durable power. However, he is not sure whether the token can withstand competition from stablecoins issued by central banks and institutions.

Ripple CEO: The 20 largest banks will trade cryptocurrencies by 2020

Ripple CEO Brad Garlinghouse shared in the latest “Ripple Insights” that he expects the 20 largest banking institutions in the world to hold and trade digital assets.

Meanwhile, Ethan Beard, SVP of Xpring, is certain that at least one country will have a central bank digital currency (CBDC) next year.

IOST News

IOST is the only blockchain project invited to the 17th China’s Enterprise Development & Blockchain Forum. IOST’s participation marked the first appearance of a public blockchain project in this prestigious national forum comprising academia, governments, and businesses.

Cardano News

Charles Hoskinson, CEO of IOHK, the company behind Cardano, said his team is gathering a long list of bugs after the incentivized testnet launch this month. According to him, a software update to address the bottlenecks will be released on Monday.

USDS News

Beginning in February 2020 Stably will officially convert USDS users from existing ERC20 smart contracts to improved smart contracts.

All USDS holders are required to move to a new smart contract to receive a replacement token before any new redemption requests can be made.

Stably is also currently working with its exchange partners to consolidate current USDS trading pairs into BTC, BNB, USDT, and fiat before moving the smart contract to ensure a smooth transition.

Read more:

Follow us on Telegram

Follow us on Twitter

Follow us on Facebook

You might also like

LATEST NEWS

LASTEST NEWS