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Today’s Top News
There is some great news today from a variety of quarters today. Bitcoin isn’t the top headline, which is refreshing. Wouldn’t you agree?
Coinfloor to delist Ethereum
Coinfloor is the United Kingdom’s longest-running crypto exchange, and they plan to delist Ethereum next month to focus entirely on Bitcoin. This could be due to Bitcoin’s performance this year versus ETH’s, which is at a net negative. That’s not welcome news, especially since a large wallet holding 530,000 ETH since 2015 recently dumped over half of it. Meanwhile, Parity Technologies is giving up on Ethereum. Ethereum has had some challenges related to scaling for the past couple of years and these could be coming to a head as industry analysts point to the blockchain’s Ice Age feature as a primary culprit. Bitcoin Cash is also on Coinfloor’s hit list. — COINDESK
Image from TradingView and NEWS BTC.
Blockchain is officially changing its name to Blockchain.com
Bitcoin wallet company Blockchain Luxembourg S.A. is changing its name to Blockchain.com. The change coincides with the company’s launch of Blockchain Exchange, previously called The PIT. — CRYPTONINJAS
Fluffypony steps down as lead maintainer of Monero
After five years, Riccardo “Fluffypony” Spagni is stepping down as lead maintainer of Monero. Spagni mentioned wanting to step down last year. Meanwhile, Monero’s market price takes a nose dive as one analyst points to a key support. — THE BLOCK
Image from Github.
OKEx kicks out Dai staking bonus
Another cryptocurrency exchange, Malta-based OKEx, is hopping on the staking train by allowing users to stake the stablecoin Dai and earn interest. Meanwhile a Messari analyst predicts Dai will dominate in Latin America. — COIN TELEGRAPH
Image from Messari.
India is training tax department reps how to investigate crypto traders
India has flirted with banning cryptocurrencies, but has not yet done so. The country’s central bank won’t allow financial firms to deal with crypto, and one of the nation’s inter-ministerial committees has suggested an outright ban on all cryptocurrencies not issued by the state. Meanwhile, India’s Income Tax Department is secretly training tax officials how to investigate cryptocurrencies. The group monitors exchanges, blogs, social media websites, chat and messenger apps, and other technologies, to determine whether individuals are trading, buying, selling, and holding crypto. — COIN TELEGRAPH
Image from Coin Telegraph.
Cardano launches testnet with 5 billion tokens staked on first day
Cardano launched its Daedalus rewards wallet on December 16th. Within 24 hours, there were 5 billion ADA tokens staked for a total value of $195 million. In the same period, more than 120 staking pools went online. — ALTCOIN BUZZ
Image from @InputOutputHK on Twitter.
Today’s Bitcoin Chart
Most Interesting Reads
If you haven’t heard of Basic Attention Token (BAT), now is the time to brush up. Brave Browser could be the most popular web browser in a few years. If it is, it could be because of BAT. But that’s just the beginning of today’s great reads.
Why BAT is the most promising cryptocurrency for next year
The next Bitcoin halving, expected around May 2020, has everyone excited about the year 2020. Most crypto enthusiasts are optimistic about the market overall, and Bitcoin in particular. Based on the premise that some altcoins will experience more growth than others, Sylvain Saurel mentions five reasons Basic Attention Token is the most promising cryptocurrency for 2020. These include:
It solves a real-world problem
It has seen more than 100 million downloads
The number of active users is growing
Publishers are adopting BAT in surprising numbers
The price is currently affordable
— MEDIUM
Image from BATGrowth.com.
Bitcoin vs. Bolivar: Can crypto save Venezuela?
According to the International Monetary Fund (IMF), Venezuela’s 2018 inflation rate was 65,374 percent. The expected inflation rate this year is 200,000 percent. Next year, it’s 500,000 percent. In October 2018, the country’s president launched a digital currency called Petro, which is supposed to be backed by Venezuela’s oil reserves. But it’s largely unknown within the country. — RACONTEUR
Image from the IMF.
Tezos could surge if Bitcoin plunges
One of the most popular activities in crypto is predicting the price movement of Bitcoin (BTC). Despite increasing 98 percent from the first of the year to May, BTC has declined 50 percent from its 2019 high. Still, it’s way down from its all-time high of $20,000 in 2017. This reality has one analyst suggesting BTC will decline even further before rising to $100,000 or more. If that happens, Tezos could be the biggest beneficiary. — NEWS BTC
Image from TradingView and NEWS BTC.
Chainalysis report says Plustoken could have caused Bitcoin decline
Chainalysis will publish a crime report in January, but they’ve released an excerpt that concludes the Plustoken Ponzi scheme that allegedly bilked investors of $3 billion may be responsible for driving down the price of Bitcoin. Analysts conclude Plustoken wallet cash outs could be the catalyst driving down the price of Bitcoin. — BITCOIN.COM
Image from Chainalysis.
How to survive the crypto wallet business
With 40 million cryptocurrency users, it’s no wonder there is stiff competition among wallets. Even gaming companies are launching crypto wallets. Not all crypto wallets are created equal, however. It’s not as simple as sending and receiving digital money. For example, one of the most popular wallets, Ledger Nano S, offers 12 different services. This review explores the wonderful business of crypto wallets. — BITNEWS TODAY
Image from Statista.
Allen Taylor is a veteran award-winning journalist and former newspaper editor. He is a freelance writer focused on fintech, including blockchain and crypto projects, and manages crypto blogs through CryptoBloggers. Follow me on Twitter and Steemit.