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1. Ledger has added a new service to its Ledger Live platform, enabling anyone to earn staking rewards directly to their wallet. Staking is a process where users lock up some of their funds as collateral in exchange for helping to run a proof-of-stake blockchain network. In return, new coins are created daily and are rewarded proportionally to those who are staking their coins. Ledger has added Tezos as the first coin for this service, which is focused on bringing governance to the blockchain.
2. Footwear giant Nike patented shoes that are tokenized as a non-fungible token (NFT) on the Ethereum blockchain, dubbed CryptoKicks. One implementation of the technology described in the document is an Ethereum ERC721 or ERC1155 token used to authenticate and transact a physical shoe. The token would be “unlocked” with the purchase of a corresponding physical shoe. The system apparently aims to provide a way to ensure the authenticity of the goods and shoe sales, for the verification of the scarcity of the shoes in circulation.
3. China's inflation rate has jumped to 4.5% for November. It's yet another reason why we may need a deflationary currency like Bitcoin. As market analyst Mati Greenspan recently tweeted, China’s inflation rate has been steadily rising. In the month of November, it saw a spike of 4.5 percent — with no indication that it will cease. Considering that China is the world’s second-largest economy, this is cause for worry. Bitcoin provides us with a deflationary option which has a fixed supply of 21M.
4. Privacy-centric cryptocurrency Monero (XMR) has seen its hashrate rise exponentially following the RandomX update despite a lackluster movement in price. The hash rate for Monero experienced a 186% spike after the token team upgraded its network with the implementation of RandomX's mining rules. Prior to the upgrade, the hash rate for same was at 309 MHash/s. Seven days later, the hash rate reached 952 MHash/s. This is the third spike for Monero's hash rate, previous spikes occurred in March 2018 and April 2019.
5. JPMorgan’s blockchain payments network will reportedly launch in Japan in 2020. As per report, 80 Japanese banks have expressed their intent to join the JPMorgan’s blockchain payments platform, Interbank Information Network (IIN). Daizaburo Sanai an executive director at the JPMorgan told Japanese firms want to join the platform in order to improve Anti-Money Laundering measures because the tool reportedly makes the tracking of cash recipients “faster and more efficient.”
6. The founder of the now-defunct drug marketplace Silk Road, Ross Ulbricht Predicts Bitcoin to Skyrocket to $100,000 in 2020 based on the Elliott wave theory. Ulbricht claims that he has several Bitcoin charts sent him to a prison cell on a daily basis. It takes about a week to put his letters online, which makes them slightly out of date. However, he states that it doesn't matter since he only focuses on the coin's long-term price action. According to Ulbricht, the overall trend for Bitcoin is still up despite a severe price correction.
7. The adoption rate of blockchain technology in China continues to impress as the Bank of China has reportedly issued 20 billion yuan ($2.8 billion) in blockchain-based special financial bonds for small and micro-enterprises. According to the local news outlet, the funds are specifically used to issue loans to these Chinese small and micro-sized companies to support their continued development in the economy. The news comes as the Chinese government is attaching an ever-increasing level of importance to the digital economy.
8. Bank of America (BOA) One of the world’s largest and most influential banks recently acknowledged that Ripple’s cross-border solution is innovative and praised it in a report. As per the bank, Ripple’s global payments solution works perfectly as a cross-border treasury payments solution, foreign exchange market maker and cross-border treasury receipt solution. Bank of America also noted Ripple’s cross-border payments solution provides a simplified correspondent banking model, transparency in payments.
9. Bitcoin's expected mining-reward halving in May 2020 could leave prices for the cryptocurrency in a range between $20,000 and $50,000, according to a new estimate, by Charles Hwang, managing member of the hedge fund Lightning Capital. Hwang assumed demand holds steady at 633,000 bitcoin through 2021, while mining rewards drop to 328,500 bitcoin a year from the current pace of 657,000 a year. "This sudden shift in the supply curve will most likely be the catalyst for the next bitcoin bull run."
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