One Stop Cryptocurrency NewsCast For Today ?

📮 02-12-2019

📉 MarketCap:                  $204 B

📊 24h Mcap %:                  0.16%

⚠️ Bitcoin Dom:                 66.0%

📌 Active Coins:                2,543

📍 24h Vol %:                   7.78%

💲 24h Vol:                     $49 B

1.  The latest news comes as a respite to the community after Monero successfully upgraded network to RandomX. The Monero developers put forth the idea of a new Proof-of-Work algorithm, RandomX, that uses random code execution along with memory-hard techniques to be ASIC-resistant. The developers affirmed the upgrade that was optimized for general-purpose CPUs in order to make the network more decentralized. Riccardo Spagni the lead maintainer of Monero, said RandomX is the way forward.

2.  Binance is introducing Ethereum (ETH) futures contracts with up to 50 times leverage, allowing traders to bet for or against the future price of Ether. Binance says trading on the BTC/USDT and ETH/USDT perpetual contracts is similar to the existing BTC/USDT and ETH/USDT trading pairs on the spot market. Both are “priced and settled in the same manner.” Binance’s futures trading volumes have been increasing steadily. The exchange’s current daily BTC futures trading volume stands at 185,835 Bitcoin worth $1.4 billion.

3.  r/Bitcoin on Reddit remains one of the most popular forums for Bitcoin fans. Currently ranked 210 among the largest forums on Reddit with around 868 comments per day on average. The subreddit recently hit a milestone of 1.2M subscribers. At the start of 2019, the subreddit hit a milestone of 1M subscribers. Adding another 200,000 members since then, the community has become the largest Bitcoin community online. The rise in subscribers indicates that the care group of Bitcoin HODL’rs is still strong and growing.

4.  Former President of the Bank of China, Li Lihui, recently addressed the gathering, at the Financial Technological Summit held in Beijing. Where he said, digital currencies are set to serve as crucial players in the upcoming financial revolution. In his eyes, digital finance needs a better approach from regulators, and he believes that China shouldn’t miss such a golden opportunity. Lihui added that he recognizes a blockchain as a protocol that is immutable and incorruptible and employs a consensus algorithm in order to preserve decentralization.

5.  Philippines-based bitcoin and cryptocurrency exchange PDAX (Philippine Digital Asset Exchange) has formed partnership with one of the leading financial institutions in the country, Union Bank of the Philippines , through their fintech subsidiary, UBX. The strategic partnership aims to support and bring tokenized securities and other assets to PDAX. "Partnership will support the digital asset ecosystem of our nation and enable financial inclusion for Filipinos." Told UnionBank President and CEO Edwin Bautista.

6.  According to a recent post on r/Bitcoin with data from BitUniverse, Coinbase leads the pack by a large margin in its cryptocurrency holdings. The exchange is increasingly becoming like a ‘bank’ which stores a growing number of deposited cryptocurrency assets. The cryptocurrency exchange giant holds in Bitcoin alone around 966,230 BTC which amounts to around $7.1B. Other exchanges lag behind Coinbase, BitMEX has around 265,140 BTC ($1.94B) while Bitstamp comes in third with 229,490 BTC ($1.67B).

7.  Of the roughly 18.08 million Bitcoins which have been mined, 11.58 million — or 64% of the supply — has stayed in the same wallet since 2018, highlighting demand among investors. The figure is striking as during that time, BTC/USD expanded from $3,100 last December to 2019 highs of $13,800 just six months later. Subsequently, markets reversed downward, shaving 52% off the highs to reach local lows of $6,500 on Nov. 25. “Hodlers of last resort are insane,” Rhythm summarized.

8.  The anonymous Crypto analyst, PlanB says despite Bitcoin’s wild ride in 2019, with highs approaching $14,000 and lows nearing $3,000, BTC remains on course to hit $100,000 according to the much-hyped stock-to-flow ratio. He said Bitcoin’s halving, which is likely to happen in May of next year, remains one of the strongest catalysts for the future growth of the leading cryptocurrency. As for the timeline, PlanB says the model indicates $100k will likely happen between 2020 and 2023.

9.  As per the announcement Major Cryptocurrency exchange Binance has listed four Russian ruble trading pairs. The first trading pairs featuring the ruble include Binance Coin (BNB), Bitcoin (BTC), Ether (ETH) and XRP. Binance CEO Changpeng Zhao commented on the development in a tweet sent the same day. Binance’s addition of trading pairs follows the introduction of ruble trading on the platform in late October when Zhao announced that users could then deposit and withdraw fiat funds in rubles.

10.  Japanese holding company SoftBank has developed a debit card featuring a built-in blockchain wallet. The new product is called SBC Wallet Cards and can be used as a traditional debit card or blockchain wallet. Consumers can use the integrated blockchain wallet as both cold and hot digital currency storage and check balance-related information in real-time. Currently, the card is available exclusively in Japan, however, SoftBank plans to roll out the product in Southeast Asia, South Korea, the United States and Dubai in the future.