Crypto Brief Nov.19: Whales Transferred Large Amounts of Bitcoin and XRP Plus Ethereum, Stellar, Ripple, TRON, MakerDAO, LocalCryptos News
From whales transferred large amounts of Bitcoin and XRP to the countdown of Ethereum’s hard fork. These are some excellent news in the world of crypto today.
While the price of Bitcoin dropped close to the area of $ 8000, whale transferred a significant volume of Bitcoin. Four of the transactions involved Bitcoin moving from unknown wallets to crypto exchanges, indicating that the holders may be looking to sell some of their assets.
Here’s a look at the most significant Bitcoin transactions in the last 24 hours.
- 1,000 BTC worth $8.2 million transferred from unknown wallet to OKEx
- 800 BTC worth $6.5 million transferred from OKEx to Huobi
- 1,000 BTC worth $8.2 million transferred from unknown wallet to Binance
- 700 BTC worth $5.8 million transferred from unknown wallet to Bitfinex
- 605 BTC worth $5.0 million transferred from unknown wallet to OKEx
- 1,271 BTC worth $10.7 million transferred from Coinbase to an unknown wallet
Besides, Whale Alert announced that 28,521,383 XRP (about $7.4 million) has transferred from an unknown wallet to the Bithumb crypto exchange.
The move indicates that the hodler may be looking to sell some assets.
— Whale Alert (@whale_alert) November 18, 2019
Bitcoin’s dominance of the crypto market will drop
Paddy Stash, a well-known crypto analyst, says that Bitcoin’s dominance of the crypto market is set to drop.
If BTC continues to slip below a support line back to July, he expects ETH to break out. Right now, Bitcoin’s dominance is about 65.84%, with Ethereum capturing 8.55% and XRP capturing 4.88% of the market.
“BTC.D looking awful and slowly slipping under significant support.
If this falls through and it’s confirmed with volume, then I cant see how ETH won’t blast over its significant resistance. Everything seems to be perfectly lining up here.”
— Paddy Stash (@paddystash) November 18, 2019
Tom Lee: Bitcoin’s price needs to be $150K to SEC accepts an ETF
The US Securities and Exchange Commission (SEC) will review the rejection of the Bitcoin exchange-traded fund (ETF) proposal. The SEC rejected the most recent proposals from Bitwise ETF and NYSE Arca on October 9, citing concerns about market manipulation and risks for investors.
While crypto enthusiasts have appealed to the SEC for taking too long to approve Bitcoin ETFs, Thomas Lee, co-founder of Fundstrat Global Advisors and a Bitcoin bull, has a different view.
“Bitcoin’s price needs to be $150K to be liquid enough to handle what would be expected from an ETF.” – @fundstrat on why a bitcoin ETF is still years away.
— BLOCKTV (@BLOCKTVnews) October 22, 2019
It may be an unpopular opinion, but we believe the SEC is doing a pretty good job.
The global Ethereum community is counting down the days for the Ethereum 1.0 Hard Fork, the Istanbul. Etherscan.io has also launched a countdown for the anticipated Block #9069000.
The upcoming Istanbul Hard Fork will be the last before Serenity – the final stage of Ethereum network development associated with Ethereum 2.0. The prescribed period of this fork is the afternoon of December 6th, 2019.
The Ethereum Foundation had previously planned to implement it during the early days of Q4 2019. However, the activation was re-scheduled for October 6th, 2019.
According to the most recent leaks by Ethereum’s team leader Péter Szilágyi, significant updates are in the progress that will put an end to some of the unnecessary memory copying on the Ethereum Virtual Machine (EVM).
Stellar co-founder Jed McCaleb says the Stellar Development Foundation is taking more action to create real-world adoption of crypto.
At Blockchain Week in San Francisco, McCaleb said the team is getting ready to publish some new applications to bring XLM into the mainstream.
In a separate tweet, Justin Sun shared the most recent Tron’s developments and plans. One of them is the upcoming niTROn 2020 event (with a special guest that Sun haven’t disclosed the name), and Tron’s listing on Poloniex.
Justin Sun is one of the major investors that have been working with this exchange recently.
Recent #TRONchievements Nov 11- Nov15
? #niTROn2020 will be held on 2/29/2020
?#TRON has been added on @Poloniex
?50M #TRX giveaway to super representatives
?#TronTV announced partnership with @VideoElephant pic.twitter.com/ATBvyznqg3
— Justin Sun (@justinsuntron) November 19, 2019
Ripple is looking for a new integration engineer in Tokyo, Japan, at SBI Ripple Asia.
The new job opening comes on after the announcement that SBI Ripple Asia is building a cross-border funds transfer platform which will utilize RippleNet to make payments between Japan and Vietnam.
Meanwhile, Ripple is searching for four engineers to work at Xpring, which recently introduced a software development kit designed to make it easier for developers to build on the XRP Ledger.
MakerDAO is set to launch multi-collateral Dai today, brings a few changes that Ethereum users need to be aware of to keep up.
According to a blog post, the release of multi-collateral Dai is going to bring in various new features, terminology changes, and some new potential to the DeFi space.
With new terminology, Dai’s collateralized debt positions (CDPs) are now going to be named “Vaults,” while current Dai is going to be renamed to Sai (Single-Collateral Dai). Multi-Collateral generated Dai will be known as Dai.
In a blog post on Nov. 19, LocalCryptos, formerly LocalEthereum, said it had completed the pivotal step of adding support for Bitcoin as well as Ether (ETH).
“The platform is a one-stop-shop for fiat-to-crypto ramps worldwide, beginning with BTC and ETH,” the blog post reads, describing the move as a “large milestone.”
In the future, more cryptocurrencies will join its offering:
“LocalCryptos will list some of the most popular Ethereum-based tokens over time. We’ll develop a new smart contract to handle ERC20s, and, in the more distant future, ERC721s.”
Visa is working to develop a blockchain system for joint computation of data on a large scale.
Visa Research, which is focusing on security, payment innovation, and data analytics, has released a paper that presents a blockchain system designed for policy-compliant computing. This system is LucidiTEE, with the TEE meaning trusted execution environments.
Visa aims its system at creating applications designed for processing extensive data and serving a high number of users. LucidiTEE will allow participants to compute private data jointly, which would offer more transparency and complete control. It also ensures that no other party can look at the results. For the computations to be fair and to comply with existing policies, there are protocols between a shared ledger and TEEs.
Dovey Wan Reveals Top 5 Bitcoin and Crypto Myths About China
Dovey Wan, the founding partner at Primitive Ventures, a global digital assets holding company, says China’s government is usually quick to create new regulatory requirements but might not always enforce them effectively.
While attending a recent crypto-asset forum, Wan said that Bitcoin is not banned in China, and people are allowed to hold it legally. She calls out the Top 05 Bitcoin and crypto myths about China.
Myth 1 – “Bitcoin is banned in China.”
Myth 2 – “Exchanges are banned in China.”
Myth 3 – “Mining is banned in China.”
Myth 4 – “The Chinese have a hard time accessing crypto-assets.”
Myth 5 – “Chinese people are buying Bitcoin to hedge against RMB devaluation.”
Wan says crypto exchanges are not entirely banned in mainland China. Although some crypto trading platforms such as BTCChina and Yunbi were shut down, exchanges such as Huobi, OKCoin, and Gate continue to operate in the country.
“Top 5 China Crypto Myths”
Put up these slides for my talk at #InvestNYC
China is different in a way that legislation/regulation can be pushed out overnight but enforceability is meh
Next time you see “xyz is banned in China” better question its effectiveness first pic.twitter.com/UZMYJ7kgBA
— Dovey 以德服人 Wan ? ? (@DoveyWan) November 15, 2019
US President Donald Trump put aside the ‘vaping ban’ is a positive thing for Bitcoin.
Tom Lee says that US President Donald Trump put aside the vaping ban is a positive thing for Bitcoin. In his recent tweet, the Bull said that there is no even “a remote possibility” that Trump can sign an order to ban cryptocurrencies.
Oddly, I view this as a marginal positive for #bitcoin…
the (ever remote) risk of a ‘executive order’ ban of crypto is diminished if @realDonaldTrump is backing off a vaping ban.
— Thomas Lee (@fundstrat) November 18, 2019
The White House precluded individual e-flavored cigarettes due to a lung illness outburst in September. Back then, Lee suggested that it could be a signal for a potential ban on cryptocurrencies.
Federal regulators had already cleared the ban before Trump decided to reverse his stance. The vaping ban, which was the idea of First Lady Melania Trump, could hurt Trump’s re-election chances since some members in battleground states strongly opposed it.
China has processed nearly $6 billion through a blockchain medical platform
According to a report on Nov.18, China’s Zhejiang province has processed almost $6 billion via a blockchain medical billing platform using blockchain technology developed by Alibaba subsidiary Ant Financial.
Successfully piloted in 2018, the blockchain platform allows citizens to make doctor’s appointments, get prescriptions as well as payments, record, and store their medical bills online.
The platform was designed to reduce the time for the issuance and verification of medical documents, can speed up insurance payouts by 96 times, and cut down the insurance claims procedures from 12 days to three hours so far.
At a local blockchain event on Nov. 18, the Zhejiang Provincial Department of Finance announced that the platform had 480 medical institutions across the province as of Oct. 28 and processed 41.7 billion Chinese yuan ($5.9 billion) as of October.
The first airline company issue tickets on a blockchain.
In a press release on Nov. 18, German airline Hahn Air claims to be the first airline company to issue tickets on a blockchain.
The ticket sale using blockchain technology was made through Hahn Air’s collaboration with Winding Tree, a decentralized platform for the travel industry. Frederick Nowotny, head of sales engineering at Hahn Air; Maksim Izmaylov, the founder of Winding Tree, and Davide Montali, CIO at Winding Tree, became the first passengers to use blockchain-booked tickets.
Nowotny said the goal of the company is to “investigate and monitor the opportunities this technology holds for travel distribution, even if widespread acceptance is still a vision of the future.”
HSBC closed an account that used to fund Hong Kong protestors.
The need for censorship-resistant currencies like Bitcoin has been increased again when HSBC shutters an account reportedly used to fund Hong Kong protestors.
On Nov. 18, the British multinational bank, HSBC, recently closed a corporate account that was reportedly being used to transfer fundings to support protestors’ activities.
The Five month Hong Kong protests — which is currently growing increasingly fierce — the bank presented its decision as a formal procedure, stating that it found the account was being used inconsistently with the purpose stated initially in its paperwork.
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