🗞 Daily Crypto News, December, 4th💰

in #bitcoin • 5 years ago

  • Bitcoin No Longer Looks Like ‘Digital Gold’ by One Measure ;
  • China’s Internet Firewall Has Blocked Access to Ethereum Block Explorer Etherscan.io ;
  • Cointelegraph Launches Consulting Division to Drive Enterprise Blockchain Adoption, Partners With Insolar and VeChain ;
  • State Street Slashes DLT Developer Team as Bank Rethinks Blockchain Strategy ;
  • Data Shows Crypto Exchange Volume May Not Equate to Website Traffic ;
  • 🗞 Daily Crypto News, December, 4th 💰
  • STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 Bitcoin No Longer Looks Like ‘Digital Gold’ by One Measure

If "digital gold" means "a safe-haven asset where investors park their money during financial market turmoil," then bitcoin doesn't fit the bill as well as it used to.

For most of the year, bitcoin's price showed a modestly negative correlation with the S&P 500. In other words, the world's largest cryptocurrency by market capitalization tended to rise on days when the bellwether stock-market index fell, and vice versa.

But since early October, that relationship has weakened, according to information provided by Digital Assets Data.
The correlation, once well into the negative 20-30 range, is now beginning to flatten towards a reading of around negative 10 percent, as shown in the chart below.

🗞 China’s Internet Firewall Has Blocked Access to Ethereum Block Explorer Etherscan.io

China's Great Firewall, used by the government to regulate access to foreign internet sites, has blocked one of the most popular sources of ethereum blockchain data.

As of Tuesday, etherscan.io, one of the longest-running and most widely used ethereum block explorers, was inaccessible from IP addresses inside mainland China, based on tests performed locally.

The change appears to be recent. According to Greatfire.org, which compiles and monitors a database of sites that are blocked inside China, etherscan.io was still accessible with "no censorship detected" as of Aug. 18, 2019.

🗞Cointelegraph Launches Consulting Division to Drive Enterprise Blockchain Adoption, Partners With Insolar and VeChain

Cointelegraph, the leading publication for blockchain and cryptocurrency news, has announced the launch of its Cointelegraph Consulting division. The new business sector is focused on advancing enterprise blockchain adoption by helping companies understand the potential of blockchain technology and then matching them with enterprise blockchain vendors to implement solutions.

According to Gartner, the business value added by blockchain will grow to more than $176 billion by 2025. This number is expected to exceed $3.1 trillion by 2030. While the growth of enterprise blockchain is on the rise, traditional consulting firms are just becoming familiar with the blockchain space.

Arsenii Dain, managing director of Cointelegraph Consulting, told Cointelegraph:

"There is great potential for enterprises to adopt blockchain technology, but there still isn’t enough education and collaboration between service providers and those willing to embrace blockchain for the enterprise."

🗞State Street Slashes DLT Developer Team as Bank Rethinks Blockchain Strategy

State Street, the global custodian bank, has taken a new direction with its blockchain strategy and cut scores of developer jobs in the process, people familiar with the situation said.

The focus is now more on digital assets such as tokenized stocks and bonds through to cryptocurrencies, rather than the heavy lifting work of re-plumbing front to back office with distributed ledger technology (DLT).

Because of various cost pressures weighing on the Boston-based bank, there has been a dramatic streamlining of the global blockchain team in the past few weeks. A former State Street engineer, who wanted to remain nameless, said the cuts numbered over 100 blockchain developers.

🗞Data Shows Crypto Exchange Volume May Not Equate to Website Traffic

As a young industry, the cryptocurrency space has been like a revolving door, seeing numerous companies, projects and assets come and go with the wind. Crypto exchanges, in particular, have seen their fair share of changing tides. Outfits such as BitMEX and Binance have grown since 2017 while newcomers such as Bybit have more recently entered the spotlight.

It is not uncommon for such exchanges to gain social media attention as various personalities promote their reference links and talk about different digital assets on crypto-Twitter and YouTube.

BitMEX, Bitfinex, Coinbase, Binance and Bybit have each seen their share of activity on social media, each with varying amounts of trading volume, although recent data from Amazon’s analytics site Alexa shows where these five exchanges really stand in terms of traffic and engagement. High trading volume does not necessarily equate to a high website traffic and engagement ranking compared to all online websites.

🗞 Daily Crypto News, December, 4th 💰

  • Aeternity (AE)

"The next aeternity blockchain hackathon will be held in Sofia, Bulgaria, on December 4th, 2019!"

  • Pylon Network (PYLNT)

The first version of the official wallet for $PYLNT and $PYLNC is released on Wednesday 4th December 2019.

  • General Event (CRYPTO), TomoChain (TOMO)

TechFest Vietnam 2019 from Dec 4 - 6 in Quang Ninh.

  • Newscrypto.io (NWC)

Join us as we will answer questions regarding Website/Platform updates and explain what we are planning for 2020.

  • Global Social Chain (GSC)

Prediction bounty from Nov 28 - Dec 4. Predict through app. Follow, retweet, and like on Twitter to get rewards (random 3 winners only).

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STEEM Trading Update by my friend @cryptopassion

Here is the chart of my last analysis :

Here is the current chart :

Today, we touched the resistance line at 0.124$ but we failed to break it and it created a little drop. We are now again stabilizing just under that resistance line, waiting for a more important move. BTC is exactly doing a similar pattern so I suppose we will simply follow what the BTC will do.

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