Ripple price is currently declining from the key $0.2320 resistance area against the US dollar. The price is now trading below $0.2260 and it is showing a few bearish signs. Yesterday’s major bullish trend line was breached with support near $0.2280 on the hourly chart of the XRP/USD pair (data source from Kraken). Ethereum is also struggling and it is declining towards the $144 support area. Ripple price is under a minor bearish pressure against the US Dollar, similar to bitcoin. XRP price remains at a risk of a drop…
Day: December 9, 2019
Ethereum (ETH) Stuck In Range Below Key Resistance, Bitcoin Struggling
Ethereum is struggling to clear the key $152 resistance area against the US Dollar. The price is declining and it is now trading near the $146 support area. Yesterday’s major bullish trend line was breached with support near $148 on the hourly chart of ETH/USD (data feed via Kraken). The price could continue to move down and it might test the $144 support zone. Ethereum price is showing a few bearish signs versus the US Dollar, while bitcoin is down 2%. ETH price must stay above $144 to revisit the…
No More Bitcoin for Nordea Bank Employees, Experts Question the Motive
An act of paternalism or a case of generic Bitcoin (BTC) distrust? It is hard to make out the exact reasons for Nordea Bank’s ban on its 31,500 employees trading in Bitcoin or other cryptocurrencies — even on their own time — a prohibition that was upheld on Dec. 2 by a Danish court. In a press release posted by the court following its ruling, Nordea Bank noted that, “Employees are permitted to keep any existing [crypto] holdings,” though it added that they were encouraged to sell them. As reported…
Gov’t Seeks to Tax Crypto Transactions as Capital Gains
The South Korean government plans to tax capital gains on cryptocurrency transactions. A Dec. 9 report from The Korea Times reveals that a revised bill to introduce the measure will be drawn up by the country’s Ministry of Economy and Finance by the first half of 2020. In parallel, the Korean National Assembly is in the process of advancing a related bill aimed at increasing transparency in cryptocurrency trading. If passed, the new regulations would come into effect one year after the Assembly’s plenary session. While the government’s capital gains…
China’s Central Bank to Lead Real-World Pilot of Digital Yuan: Report
China is at last planning to conduct the first real-world test of its central bank digital currency (CBDC), fresh reports claim. According to local news outlet Caijing on Dec. 9, the initial pilot for the CBDC is set for the city of Shenzhen before the end of 2019, and may possibly include the city of Suzhou. Banks in a digital currency “horse race” Under the auspices of China’s central bank, the People’s Bank of China (PBoC), four major banks and major economic participants such as China Telecom will test digital…
Cryptocurrency Exchange OKEx to Launch Options Trading This Month
Malta-based cryptocurrency exchange OKEx announced that it will launch crypto options trading on Dec. 27. In a press release on Dec. 9, the exchange said that the addition of options makes OKEx the “first crypto exchange to offer C2C, spot, futures, perpetual swap, and options trading under the same roof.” The options will allow the platform’s users to buy or sell an underlying asset after paying a premium. While real options trading will begin on Dec. 27, simulated trading is scheduled to start in just three days, on Dec. 12.…
Lithuanian Central Bank Announces Blockchain Collector Coin
The Bank of Lithuania announced that it will release a digital, blockchain-based collector coin in the spring of 2020, according to a press release on Dec. 9. The coin is dedicated to the Act of Independence of Lithuania on Feb. 16, 1918, and its 20 signatories. In homage to the year of the act, the coin will bear a denomination of 19.18 euros, while its size and form will resemble a credit card. Bank of Lithuania board member Marius Jurgilas said they chose the theme because of the significant role…
Bitcoin Price Fills $7.5K Futures ‘Gap’ as Trader Weighs $8K Potential
Bitcoin (BTC) fluctuated around $7,500 on Dec. 9 after a weekend of range-bound movement reduced volatility concerns for traders. Cryptocurrency market daily overview. Source: Coin360 Bitcoin delivers classic futures “bounce” Data from Coin360 and Cointelegraph Markets showed the largest cryptocurrency trading in a $250 corridor since Friday, marking local highs of $7,604 before briefly reversing to $7,395 on Sunday. Since then, the $7,500 boundary has acted as a centerpiece for Bitcoin, which comfortably filled the latest “gap” in futures markets once again as the week began. An increasingly common feature,…
Japan’s 2nd-Largest Utility Trials Blockchain for Renewable Energy Credits
The second-largest power utility in Japan is extending its trial of a blockchain-powered system for transacting renewable energy credits. According to a press release shared with Cointelegraph on Dec. 9, the Kansai Electric Power Co Inc (KEPCO) is extending its trial of a blockchain-enabled renewable energy trading platform developed by Australian tech firm Power Ledger. Decentralizing, decarbonizing In 2018, Japan was the world’s fifth-largest consumer of electricity, yet produced only 17.5% of its energy from renewable sources. In May of this year, the country’s Ministry of Economy, Trade and Industry…
Blockchain and DLT in International Trade
Distributed ledger technology, colloquially termed “blockchain,” is making a bold promise to help bring the trade industry into the digital age. To help shed light on the intricate workings of the technology and the role that it is playing in the international trade industry, Trade Finance Global partnered up with the World Trade Organization earlier this month to produce a 56-page report titled “Blockchain & DLT in Trade: A Reality Check,” endorsed by the International Chamber of Commerce. David Bischof, deputy director at the ICC’s finance for development hub, shared…