One Stop Cryptocurrency NewsCast For Today ?
📮 16-12-2019
📉 MarketCap: $187 B
📊 24h Mcap %: -3.46%
⚠️ Bitcoin Dom: 66.87%
📌 Active Coins: 2,690
📍 24h Vol %: 15.47%
💲 24h Vol: $67 B
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1. On Dec. 15, 2018, the cryptocurrency community had a very tough day when the Bitcoin price dropped below $3,200. The Bitcoin price has endured has a series of painful corrections since reaching its yearly peak, sliding back to the $7,100. However, Bitcoin is still up by a whopping 120% year-over-year, something that's unheard of in traditional markets. Bitcoin has so far outperformed stocks, gold, oil and pretty much every other asset in 2019. Investor Alistair Milne noted crypto Twitter remains "miserable" despite Bitcoin's price surge this year.
2. Only two of the top five performers have closed in the green in the past seven days, which shows that the sentiment is currently negative. The total crypto market capitalization has been trading around $200 billion since Nov. 22. This shows that both the bulls and the bears are in a state of equilibrium. On the downside, if the market cap slips below $180 billion, it will signal advantage bears. Whereas, a break above $212 billion will tilt the advantage in favor of the bulls.
3. The bloated worldwide debt, fueled by extreme quantitative easing in the last decade, will reach $255 trillion by the end of the year. The analysis of the Institute of International Finance estimates each person on the planet would carry $32,500 in debt. Due to bitcoin’s limited supply, it is possible to chart the size of global debt-fueled finance in BTC terms. One bitcoin as per current aggregated supply will have to be worth over $12 million to describe the size of the worldwide debt.
4. Tether, the stablecoin operator behind USDT, funded the development of the new version of Bitcoin tokenization layer Omni. The Omni protocol is a system running on the Bitcoin network that allows the creation of tokens on what is widely believed to be a secure network. Omni is also the platform that hosted the first USDT tokens. The technology makes use of the Bitcoin blockchain: “Omni Core is an enhanced Bitcoin Core that provides all the features of Bitcoin as well as advanced Omni Layer features.”
5. Within 24 hours of Cardano’s testnet going live, Cardano (ADA) holders have staked more than 5 billion ADA coins, worth around $195 million. On Dec. 15, IOHK took to Twitter to report that more than 240 staking pools have gone online since Shelley went live, with about 120 staking pools during the first day of operation alone. ADA holders have been waiting expectantly for the launch of Cardano’s Shelley incentivized testnet, in which participating users will be able to earn real ADA rewards.
6. China’s smart courts are reportedly applying a variety of innovative technologies including blockchain and artificial intelligence (AI) to decide on millions of legal cases. On Dec. 5, China's official Xinhua news agency reported that more than 3.1 million Chinese litigation activities from March to October of this year were settled through the blockchain and AI-powered smart internet courts. As per the report by the Supreme People's Court, more than 1 million citizens are already registered with the smart court system, along with 73,200 lawyers.
7. United States transnational IT firm Advanced Micro Devices (AMD) has joined the Blockchain Game Alliance and forged two new partnerships to help advance the technology’s use in the industry. The chip manufacturing giant is partnering with blockchain technology providers Robot Cache and ULTRA — both of whom are working to develop and operate blockchain-based online gaming marketplaces. These marketplaces aim to establish new, secure purchase options and distribution channels for game publishers and users.
8. While Bitcoin's massive 48 percent correction from its yearly high of $13,700 might cast doubt on the new bull market, it actually remains in line with the stock-to-flow (STF) model, that predicts the price of the leading cryptocurrency based on its scarcity. Commodities with a high STF ratio are preferred by investors because they are gradually becoming more scarce. Gold, which boasts a market cap of $8.4 trln, has a ratio of 62 while BTC's STF ratio is currently at 25 but it is expected that the ratio will reach 50 after the next halvening in May 2020.