Cryptocurrency News Cast đŽ 27-09-2020
Welcome to The Cryptocurrency News Cast: A Complete Cryptocurrency News letter For Today
24hours Cryptocurrency Market Cap:
đMarketCap: $338 B
đ24h Mcap %: -0.62%
â ď¸Bitcoin Dom: 57.80%
đActive Coins: 3,910
đ24h Vol %: -4.58%
đ˛24h Vol: $82 B
Cryptocurrency News Updates :
- Brad Garlinghouse: CBDCs Doesn't Threaten XRP
- Bitcoin Outperforming Gold, Nasdaq, S&P 500 in 2020
- Weiss: ETH Is Great As Trading Instrument But Hodling Bitcoin is Better
- Israeli Lawmakers Wants To Treat Bitcoin As A Currency
- Galaxy Digital: Bitcoin Has 60X Market Expansion Potential
- $1.2 Billion in Bitcoin Has Now Moved to Ethereum
- Ant Group Launched A Cross-Border Trading Blockchain Platform "Trusple"
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Brad Garlinghouse: CBDCs Doesn't Threaten XRP
Ripple CEO Brad Garlinghouse continues to bolster the opinion that digital assets like XRP arenât threatened by Central Bank Digital Currencies (CBDCs), but rather, convinced that XRP would be that bridge amongst different CBDCs. Brad Garlinghouse buttressed the point highlighted in the Ripple Insightâs latest newsletter that CBDC is one thing, interoperability amongst different CBDCs is another. He believes XRP digital asset, will be a bridge amongst these currencies as it provides real-time transactions across multiple global markets. Read Full on ZyCrypto.
Bitcoin Outperforming Gold, Nasdaq, S&P 500 in 2020
Almost 10 months into 2020, Bitcoin is up about 48.7% year-to-date, outperforming gold, the NASDAQ Composite Index, the S&P 500 Index. BTC started the year around $7,215 and is trading at $10,732 at time of writing. Whereas Gold was trading around $1,540/ounce at the beginning of 2020 and is currently going for $1,861.68/ounce. Thatâs about a 20.8% increase. Similarly, the NASDAQ Composite Index is up 21.63% year-to-date, MarketWatch reports. The S&P 500 is up only 2.09%. Read Full on The Daily Hodl.
Weiss: ETH Is Great As Trading Instrument But Hodling Bitcoin is Better
Weiss Ratings has pointed out that Bitcoin is a better option than Ethereum when it comes to a buy-and-hold investment strategy. Weiss Ratings explained that 2017 was the first time Ethereum hit the $300 mark when Bitcoin was valued at around $1,000. Three years later and in 2020, Ethereum is once again in the $300 value range whereas Bitcoin is knocking at the $11k price level. In terms of returns, BTC is now at 11x thus demonstrating that Bitcoin is a better option for a buy-and-hod strategy. Read Full on twitter.
Israeli Lawmakers Wants To Treat Bitcoin As A Currency
Four members of the Israeli legislature has purposed a bill in the Israeli parliament Knesset that recommended a new law to treat Bitcoin (BTC) as a currency instead of an asset for tax purposes. The bill proposes several changes to crypto taxation, including the amendment of the existing tax law to exempt digital assets like BTC from capital gains tax. The bill says, âThe regulatory reality in Israel is not adapted to the existing reality in the field. Digital currencies will continue to be a growth engine that allow the Israeli high-tech industry to flourish and develop.â Read Full on Bitcoin News.
Galaxy Digital: Bitcoin Has 60X Market Expansion Potential
Galaxy Digital Capital Management, a leader in digital asset investing, says Bitcoinâs mainstream market presence is on the rise, with more growth potential than gold. According to Galaxy Digital, Goldâs market capitalization is currently over $12 trillion while Bitcoinâs is currently around $200 billion, less than 2% of the gold market. That presents a potential greater than 60x market expansion opportunity if Bitcoin grows to goldâs level as an store of value asset. Firm says Institutional adoption of Bitcoin has already surged since the Covid-19 pandemic. Read Full on The Daily Hodl.
$1.2 Billion in Bitcoin Has Now Moved to Ethereum
The amount of Bitcoin converted into Ethereum-based ERC-20 tokens had hit $1.2 billion, per data from Dune Analytics. This means that 0.5% of all of Bitcoinâs market cap has been ported to the Ethereum blockchain. This is the most Bitcoin that's moved over to the Ethereum blockchain to date. Just weeks ago, the figure was less than half what it is today, sitting at just over $500 million. wBTC is the most popular synthetic Bitcoin on Ethereum; it has 73.6% of the marketâs supply. renBTC has 18.4%, and Huobi BTC, or hBTC, has 4.2%. Read Full on Decrypt.
Ant Group Launched A Cross-Border Trading Blockchain Platform "Trusple"
Ant Group has launched a cross-border trading blockchain platform as it prepares for what could be the largest stock market flotation of all time. Ant said Friday that its new trade platform, called "Trusple," will make it easier for small and medium-sized enterprises (SMEs) to sell their wares to clients overseas. Trusple automates key aspects of the payments process, such as order placement and tax liabilities. This makes cross-border trades feasible for entities that would otherwise struggle had they used legacy systems, according to the firm. Read Full on CoinDesk.