One Stop Cryptocurrency NewsCast For Today ?

📮 04-12-2019

📉 MarketCap:                  $197 B

📊 24h Mcap %:                 -2.67%

⚠️ Bitcoin Dom:                 66.1%

📌 Active Coins:                2,512

📍 24h Vol %:                  -9.92%

💲 24h Vol:                     $41 B

1.  Bitcoin futures open interest on digital asset platform Bakkt has hit a new high. As reported by Bakkt Volume Bot, Monday’s open interest on Bakkt Bitcoin futures reached a new all-time high of $6.5 million. In futures markets, open interest is the number of open contracts in the market. When there is a large amount of open interest, new or additional capital is flowing in. The reported open interest is a 42% increase from the previous day Last Friday and Saturday saw open interest records of $4.2 million and $4.3 million respectively.

2.  Research & Markets, the U.S. analytical think tank has released a new report on the global blockchain trends for the next five years. As per report, The compound annual growth rate (CAGR) of blockchain-based retail will reach a whopping 60.4% during the 2019-2024 forecast period, solutions powered by smart contracts will dominate discussions for adopting blockchain technology. Asia will remain a major player in the ever-changing retail landscape, hosting numerous e-commerce startups with Australia competing in the sphere.

3.  The Grin developer tasked with implementing privacy features in Litecoin, David Burkett, has created a thread for monthly updates on the LTC MimbleWimble integration and has announced progress on the plan to bring confidentiality features to the sixth-largest cryptocurrency by market capitalization. Burkett was awarded funding from the Litecoin Foundation to implement opt-in extension blocks, a feature that would allow users to send confidential LTC transactions using the privacy-centric MimbleWimble protocol.

4.  Binance crypto exchange has announced support for Tezos (XTZ) staking. Starting on Dec. 4, Binance’s users will be able to trade with XTZ, with XTZ rewards to be calculated daily based on live snapshots and distributed monthly. Binance said that users must hold at least 1 XTZ in order to qualify for staking rewards. Staking, in general, refers to the practice of holding a cryptocurrency in a wallet to support a blockchain network’s operations In addition, staking also generates periodic rewards for the holder staking their funds.

5.  New study reveals, blockchain technology can reduce supply chain-related costs for businesses between 0.4% and 0.8%. While that may sound like a small figure, the sheer volume of the sector means that this percentage translates into $450 billion in savings. The problems that enterprise firms experience in managing their supply chains, is that 60% of companies overpay their supply chain vendors. And 70% of firms have "visibility gaps" between the initial supplier and internal clients’ systems, making tracking of supply chain sources difficult.

6.  Peer-to-peer (P2P) Bitcoin (BTC) marketplace Paxful recently hit an all-time-high in weekly traded volume. For the week of Nov. 23, Paxful saw close to $30 million in P2P Bitcoin trades continuing a consistent upward trend since the platform’s inception in 2015. Meanwhile LocalBitcoins.com a veteran name in the P2P crypto trading space has seen a shakier arc with peak volumes largely reported during 2017 bull run remained broadly in the $40-60 million (weekly) range for much of 2018-2019.

7.  Bitcoin's third reward halving, which is expected to occur in May 2020, is already shaping up to be the main narrative that will drive the crypto market next year. British entrepreneur & Bitcoin vet Alistair Milne said he fails to understand how the coin's forthcoming halvening won't move its price. He tweeted "Please tell me again how ~$45million / week of unsatisfied demand won't move the price when Bitcoin's halving occurs." Considering that the demand for Bitcoin remains high, its prices could once again appreciate greatly.

8.  Ethereum’s developers have created Ethereum Improvement Proposal (EIP) 2387, which is set to scheduled a hard fork for January 6 to delay its so-called “difficulty bomb” for another 4m million blocks, or over 600 days. So if this fork goes through the difficulty bomb won’t kick in until the very end of 2021 or in early 2022. In the meantime the PoS Beacon Chain is meant to go through probably during spring at the earliest. That will increase inflationary new supply depending on how many stake.

9.  The central bank of France plans to pilot a central bank digital currency (CBDC) for financial institutions in 2020. François Villeroy de Galhau, the governor of the Bank of France, announced that the bank will start testing the digital euro project by the end of the first quarter 2020. The digital euro pilot will only target private financial sector players and won't involve retail payments made by individuals. Villeroy reportedly noted that a digital currency for retail customers would "be subject to special vigilance."