Cryptocurrency Daily News Bulletin: January 3, 2019

January 3, 2019 2:06 pm Published by

General News

Bakkt is filling key leadership positions as it gears up for launch this month, hiring a new technical product manager Jide Laoye and product engineering director Peter Lee.

DMM.com, the Japanese e-commerce giant, is in the process of winding down its cryptocurrency mining business, less than a year after it set up the operation. The move follows the overall cryptocurrency market slump which has led to deteriorating profitability.

Galaxy Digital Holdings CEO Michael Novogratz has invested another $5 million in his crypto venture fund, despite the ongoing bear market. The purchase increased his total stake to 79.3 percent. The company’s stock jumped 21.36 percent yesterday on the news.  

New York State is officially launching a cryptocurrency task force aimed at helping the state understand cryptocurrencies and their underlying blockchain technology.

Thailand’s National Electronics and Computer Technology Center (NECTEC), a unit of the Ministry of Science and Technology, has completed the development of a system for blockchain-based voting and is looking for trial partners.

Cryptocurrencies

Bitcoin Cash $165.06 USD (0.39 percent) mining centralization has reached a level where just one pool is controlling half of its hashrate, according to Coin Dance. The crypto statistics service found BTC.TOP mining pool, a China-based private entity, took more than 50.2% of the Bitcoin Cash network today, threatening the network with a potential 51% attack.

EOS $2.75 USD (1.78 percent) price posted more than 10% in gains yesterday after Huobi announced they would create an EOS-based derivative platform where traders can take both long and short positions using the EOS tokens, as well as arbitrage, speculate, and hedge on the platform. Furthermore, CEO Blumer reached out to the community to address the controversy related to the EOS’s inability to tackle vote buying. He has suggested EOS should modify its constitution to allow block producers to formally pay dividends to users who provide their stakes, terming the solution as “Voter Rebates.”

Ethereum $149.83 USD (0.64 percent) have launched a new research and resources hub. Dubbed EthHub, the platform is designed to give novices and developers a solid foundation for understanding and building on the platform.

Ripple’s $0.363741 USD (-0.36 percent) XRP cross-border payment solution xRapid is expanding. A total of 12 companies have now confirmed they have either implemented or plan to utilize the technology, including names such as Bittrex, Bitso, Coins.ph, Bitstamp, SBI Virtual Currencies, IDT, Viamericas, SendFriend and Bitrue. Meanwhile, XRP’s expansion as a base pair continues as Singapore-based crypto exchange Bitrue is addingfive new XRP-based pairs: Tron, Stellar, NEO, GAS and OmiseGo. XRP has also been added to Estonia-based trading platform CoinMetro. Users can buy XRP directly with euros.

SALT $0.244586 USD (0.27 percent): Crypto lenders have benefitted from the bear market as they find strong demand from borrowers who don’t want to sell coins at depressed prices, as well as from institutional investors eager to borrow coins for short selling. SALT claims to now have a customer base of more than 70,000 borrowers and have expanded its services to 20 additional location. Similarly, BlockFi has reported a 10-fold increase in customers and revenues since June 2018. ETHLend just opened an office in London and plans to enter the U.S. soon as it nears profitability.

WN.com, Jamie Saarloos

 



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