Ripple Bears Advance Warning To Bitcoin And Ethereum Bulls

Ripple price is still struggling to gain momentum and declining below $0.1920 against the US dollar. Yesterday, XRP failed to rise substantially, while bitcoin and Ethereum climbed more than 5%. Recently, there was a break below a major bullish trend line with support near $0.1955 on the hourly chart of the XRP/USD pair (data source from Kraken). There is a risk of more downsides below the $0.1900 support levels in the near term. Ripple price is showing bearish signs below $0.1920 against the US Dollar, while BTC and ETH are…

Ethereum Down 5%, But Market Sentiment Is Still Positive

Ethereum is down more than 5% and it broke the $130 support area against the US Dollar. The price is currently testing the $125 and $126 support levels, with a positive bias. Earlier, there was a break below a contracting triangle with support near $132 on the hourly chart of ETH/USD (data feed via Kraken). Bitcoin is down around 4% and it is now trading below the $7,400 level. Ethereum price is back to a key support zone versus the US Dollar and bitcoin. ETH price must stay above the…

China Issuing Bonds on Blockchain Is a Sign of What’s to Come

The Bank of China has recently issued 20 billion Chinese yuan ($2.8 billion) of special bonds, which it has sold in order to fund small and micro-enterprise businesses, according to the China Development Network.  This recent issuance of $2.8 billion in bonds is nothing to look twice at and was largely expected, given the bank’s inclusive small and micro-enterprise loan balance at 404 billion yuan so far this year — representing an increase of 35.36% since the end of the previous year and catering to nearly 410,000 small and micro-enterprise owners.…

Chinese Internet Giant Tencent Plans to Create Digital Currency Research Group

Tencent, the operator of Chinese social media app WeChat, is planning to create a digital currency research group for the further advancement of blockchain technology research projects. On Dec. 23, Chinese media outlet iFeng reported that the Chinese internet giant released a statement to its employees saying that the company is currently on the lookout for the new head of the research group. The yet-to-be-established digital currency research group will reportedly focus on Tencent’s further advancement in the digital payment industry by utilizing blockchain technology.   Cointelegraph contacted Tencent regarding these…

Central Bank of China Official Says Digital Yuan Will Be Different From Bitcoin

The People’s Bank of China’s (PBoC) deputy director Mu Changchun said that the digital form of the yuan will be different to Bitcoin (BTC) and stablecoins. Chinese news outlet South China Morning Post reported on Dec. 22 that the head of the digital currency research institute at the PBoC said that China’s digital currency would be a digital form of the yuan with no room to speculate on its value, and without the backing of a basket of currencies. Mu explained: “The currency is not for speculation. It is different…

Peter McCormack on a Defiant New Era For Bitcoin

Peter McCormack is one of the most prominent podcasters in the space. In 2019, he added a new podcast called “Defiance” and focused on the intersection of bitcoin, human rights, and political activism to complement his “What Bitcoin Did” podcast. In this special end of year episode of The Breakdown, Peter discusses why the past year represents an inflection point for citizen action and sovereign protest around the world, and why 2020 is likely to see a continued bloodletting among non-bitcoin cryptoassets.  Disclosure Read More The leader in blockchain news,…

Binance DEX Should Be Criticized for Centralization, Not ETH

Binance’s decentralized exchange is a better target for criticism over being centralized than Ethereum, Vitalik Buterin believes. In a recent Twitter discussion, Ethereum co-founder Buterin triggered a wave of argument over decentralization in the crypto industry, particularly Binance DEX as well as Ethereum itself. Criticizing Ethereum for being centralized is bad, Vitalik says The discussion started after Buterin retweeted a promotional video by multi-currency digital asset and derivatives exchange BTSE on Dec. 21. While the video apparently has nothing to do with questions like Ethereum’s decentralization, the Ethereum co-founder has…

Ethereum Network Draws Developer Ire After Scheduling New Year’s Day Upgrade

The organization behind ether, the world’s second-largest cryptocurrency, is drawing criticism from developers after scheduling an upgrade on New Year’s Day – a work holiday in most countries. The Ethereum Foundation on Monday announced the plan to implement the “Muir Glacier” upgrade on Jan. 1. The upgrade will take place when the ethereum network hits its 9.2-millionth block, said a blog post on the organization’s website. The upgrade would come just less than a month after the network’s last upgrade in early December, known as “Istanbul.” According to the blog…

MARKETS DAILY HOLIDAYS: What’s a ‘Satoshi’?

On today’s holiday episode of Markets Daily, we take a look at the term “Satoshi”, it’s origin, what it means and why it matters. Disclosure Read More The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Author: Adam B. Levine Source link

Unlike Libra, Digital Yuan Will Not Need Currency Reserves to Support Value: PBOC Official

The head of the People’s Bank of China’s (PBOC) digital currency research subsidiary, Changchun Mu, said China’s cryptocurrency will not need a currency basket to maintain a stable value. Speaking to reporters at The China Finance Association Academic Annual Meeting and China Finance Forum Annual Meeting in Beijing Saturday, Mu said the digital yuan would be distinct from other forms of cryptocurrencies, including Libra. “The [digital yuan] currency is not used for speculation. The RMB is used to spend, not for speculation. It does not have the characteristics of bitcoin…