🗞 Daily Crypto News, January, 31st💰

in #cryptolemon • 5 years ago (edited)

  • Bitcoin Corrects Lower While Altcoins Gain Bullish Momentum ;
  • DeFi Challenge: Organic User Adoption ;
  • The National Bank of Cambodia Will Launch a Digital Payments Network This Quarter ;
  • Ledger Wallet Co-Opts Controversial Pro-Brexit Slogan for Cryptocurrencies ;
  • Facebook and Telegram Rival Line to Bring its Token to 82 Million Users ;
  • 🗞 Daily Crypto Calendar, January, 31st 💰

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

🗞 Bitcoin Corrects Lower While Altcoins Gain Bullish Momentum

  • Bitcoin price traded close to USD 9,600 before correcting lower.
  • Ethereum broke the USD 180 resistance and XRP settled above the USD 0.240 region.
  • VSYS, XZC, and BST are up more than 15% today.

Recently, bitcoin price climbed above the USD 9,450 and USD 9,500 resistance levels. However, BTC/USD failed to continue above USD 9,550 and topped near the USD 9,600 area. It is currently (09:00 UTC) correcting lower and it seems like the bears are eyeing a test of the USD 9,250 support.

On the other hand, there are positive moves in most major altcoins, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, ADA, and XLM. ETH/USD jumped more than 5% to surpass the USD 180 and USD 182 levels. Besides, XRP/USD is trading above the USD 0.240 area and showing signs of more gains.

🗞 DeFi Challenge: Organic User Adoption

DeFi (decentralized finance) protocols to face the same challenge as all cryptos on their path in 2020, and it’s organic user adoption.

The growing trend of DeFi, which marked 2019, has in fact been highlighted by a large increase in the number of assets being locked up in different DeFi protocols. However, a potential challenge facing DeFi protocols will be related to organic user adoption, according to financial technology and data company Digital Assets Data (DAD).

Organic growth, in general, refers to the growth rate achieved by increasing output, expanding the customer base, increasing sales internally, etc.

"Adoption is a challenge for all of crypto," Brandon Anderson, Data Science Lead at DAD told Cryptonews.com. "We would like to see protocols in this space have growth throughout the whole range of address sizes. We are currently doing additional research to separate these accounts into categories that will allow us to see things on a more granular level."

🗞 The National Bank of Cambodia Will Launch a Digital Payments Network This Quarter

The National Bank of Cambodia’s new digital currency is called Bakong.

It’s effectively a central bank digital currency (CBDC) that was launched on a trial basis throughout Cambodia in July. Chea Serey, director-general of the National Bank of Cambodia, said the system will be operational within the present fiscal quarter. Serey described Bakong as “the national payment gateway for Cambodia.”

Bakong will play a central role in bringing all players in the payment space in Cambodia under the same platform, making it easy for end-users to pay each other regardless of the institutions they bank with. Eventually, we hope to allow cross border payment through the Bakong system too.

🗞Ledger Wallet Co-Opts Controversial Pro-Brexit Slogan for Cryptocurrencies

As the United Kingdom exits the European Union, a new ad campaign by French crypto hardware wallet firm Ledger is reviving one of the most divisive pro-Brexit slogans, “Take Back Control,” to ambiguous effect.

An email shared with Cointelegraph on Jan. 30 revealed Ledger’s mock-up of a planned billboard for an installation in London’s Canary Wharf, one of the capital’s prime financial districts.

🗞 Facebook and Telegram Rival Line to Bring its Token to 82 Million Users

Line, one of Asia’s biggest chat apps, is set to debut its own digital token in Japan on Bitmax, its own crypto exchange.

Per a number of Japanese media outlets, including Coin Post, the company made its announcement via its blockchain and cryptocurrency subsidiary LVC – and is aiming for a rollout in April this year.

The Link token first saw the light of day in 2018 when it was listed by a Singapore-based affiliate company, and has been made available on Line-run cryptocurrency exchanges elsewhere in Asia.

However, Line has been particularly eager to distribute the token in Japan, where it claims to have 82 million active daily users. Moreover, the company last year won a license to operate Bitmax in the country from the regulatory Financial Securities Agency, and has already integrated it with its chat app interface.

🗞 Daily Crypto News, January, 31st💰

  • Cosmos (ATOM)

"The holidays are right around the corner so get your engines ready for a January 2020 launch of #GameofZones."

  • EOS (EOS)

"The Future of Money, Governance, and the Law" at the U.S. Capitol from 9:00 AM - 8:30 PM (UTC-5)"

  • DYNAMITE Token (DYNMT)

We are going to airdrop tokens for DYNMT holders. The distribution of Dynamite share will be announced one week before campaign start.

  • Fantom (FTM)

"We're slated to also release consumer wallets in Early January allowing our community to delegate with ease."

  • Nxt (NXT)

"#Nxt is now at 1.12.0e, planned to be released as stable mainnet version in January 2020!"

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