The largest telecommunications equipment manufacturer has made BitTorrent available to its users.
The TRON Foundation announced today the latest partnership it has signed with Huawei. According to the founder, this partnership with the world’s largest telecommunications equipment manufacturer is an important milestone that is once again pushing the boundaries of decentralization.
According to the official report, Huawei has opted for the BitTorrent service, which it has now made available to all devices via the AppGallery. With this simple step, more than 3 billion Huawei users, across 170 countries, can join this decentralized network.
There are four applications available, BitTorrent, BitTorrent Pro, uTorrent, and uTorrent Pro.
This is another huge milestone for TRON and BitTorrent to be listed by one of the largest Android manufacturers in the world,
Justin Sun, Founder of TRON and CEO of BitTorrent
We are excited to see the blossoming universe of distributed networks grow via Huawei devices and technology.
Justin Sun, Founder of TRON and CEO of BitTorrent
BitTorrent currently has more than 100 million active users and over 2 billion installs, making it one of the largest decentralized platforms in the world.
Bitcoin faced many challenges last week, so let’s look at the current market situation.
Since our last analysis, we have witnessed several significant moves on Bitcoin. Bitcoin was able to overcome two significant resistances in one day, at $ 18.5K and $ 19K. At first, it looked really promising for the new ATH, but tremendous pressure sent Bitcoin from a measured $ 19,484 high (binance) back in one day to a very important $ 16K support.
However, this correction was necessary because even BTC cannot grow indefinitely and almost all time frames reported high overbought in terms of RSI.
But what was significant is the fact that Bitcoin managed to keep the support at $ 16K and bounced off without any problems and again beat $ 17.5K where it created another temporary support. At present, therefore, it looks favorable for Bitcoin again, but it still has a big test ahead of it in the area of strong resistance of $ 18.5K, where it is currently located.
Current support at $ 17.5K
Very important support at $ 15.7K – $ 16K and $ 14K
Hunters of whales recorded another large Bitcoin transaction worth several hundred million dollars.
With the rising price of cryptocurrencies, enormously large transactions in Bitcoins also began to appear, as evidenced by the recent one in amount almost 30K BTC’s.
The information recorded on Blockchain.com shows that the owner has transferred a total of 22816.2 BTC’s and paid 0.00083920 BTC’s fees. At the current exchange rate, the owner transferred Bitcoins worth more than ~ $ 410M and paid a fee of ~ $ 15.
According to information published by The Daily Hodl, the whale moved Bitcoins into three separate wallets. The first wallet acquired 1,370 BTC’s after 18 transactions, the second acquired up to 21,446 BTC’s in four transactions and the third acquired less than one Bitcoin with a total of two transactions.
This wallet is currently considered to be the 31st richest crypto wallet.
Demand for the ethereum network is increasing these days, and with it the resilience of the network, which is confirmed by the increasing hash rate.
The second most popular cryptocurrency records increasing numbers in each direction. In addition to the fact that Ethereum has exceeded $ 600 for a while this week, the resilience of the entire network is also increasing.
Exactly at the same time that the ETH reached this year’s ATH of $ 623 (Coinbase) on November 24, the average daily hash rate was 280 GH / s.
This means that since the measured minimum on January 1st, 2020 of 147 GH / s, the mining hash rate has been able to increase by 90.4%. As for the ATH, which was measured on August 9th, 2018 at 295GH / s, which means that it is highly probable that Ethereum can overcome it given the current increase.
With increasing demand for the network, network fees are also becoming more expensive, which are an increasing attraction for miners, as they can earn more in some cases from ethereum gas than in block rewards themselves.
On November 26, Ethereum Gas reached 142.5 Gwei, which is an increase of more than 1,300% compared to the values from the beginning of the year. Ethereum Gas experienced the biggest fluctuations in the summer of this year on June 11th, when it managed to jump up to 709 Gwei, which is a whopping 6990% increase.
Today’s news that the first stablecoin of the Libra association may be launched as early as January next year has worried the central bank of Europe.
Today, there was a Bundesbank-convened future of payments conference where several members of the ECB’s Board of Directors spoke. The first to make an important speech was ECB board member Fabio Panetta, who drew attention to the impending revolution in payments and also to leaked information about the launch of the first Libra stablecoin.
In the context of stablecoin under the leadership of Facebook, Fabio Panetta stated:
Stablecoin users are likely to bear higher credit, market and liquidity risks, and the stablecoins themselves are vulnerable to runs, with potentially systemic implications.
Fabio sees a way where the risks can be mitigated, if the stablecoin issuer would be able to invest in its reserve assets in the form of risk-free deposits at the central bank. This would eliminate the investment risks that ultimately fall on the shoulders of stablecoin holders.
However, this method could jeopardize the monetary sovereignty of the central bank and says:
This would not be acceptable, however, as it would be tantamount to outsourcing the provision of central bank money,” Panetta states. “It could endanger monetary sovereignty if, as a result, private money – the stablecoin – were to largely displace sovereign money as a means of payment. Money would then be reduced to a ‘club good’ offered in return for the payment of a fee or membership of a platform.
According to the daily Finextra, central banks are currently for at least two years from the creation of their own digital currencies, so they are rightly concerned about the information that Libra plans to launch the first stablecoin as early as January next year.
During this conference, German Finance Minister Olaf Scholz also spoke, calling on the community of central banks to increase the pace of work on the digital euro and saying:
On the digital euro, I think we should work very hard. It is nothing where we should wait and see,” Scholz remarks. “(We) should be able to decide at any time that now we should do something with a digital euro.
Recall the most important findings that may have worried ECB officials. The first Libra stablecoin should be covered by the dollar, the exact launch date currently depends on the payment services license from FINMA, but estimates suggest a possible grant as early as January 2021.
The Libra Association, led by Facebook, is outlining its plans with a tentative launch date for the first stablecoin.
The Libra network is currently experiencing a major shift, as evidenced by several statements from members of the Libra association. It was the first to come up with information from the Financial Times, which received several new and substantial termination from these individuals.
The most important findings are:
The first stablecoin should be covered by the dollar, others will be released later
The exact launch date currently depends on the payment services license from the Swiss Financial Market Supervisory Authority, FINMA
The license could be granted as early as January 2021
The Libra Association applied for a license already in April 2020
Facebook is not alone in this and its subsidiary Novi, which takes care of the digital wallet for stablecoins Libra, is already preparing to launch it, writes The Block. A close person stated that the wallet is already “ready from a product perspective,” at the same time, however, he adds that in the beginning it will not be available worldwide.
In addition to pandemic measures, the Russian government discussed today the status of cryptocurrencies.
Today, every power is already aware that the Covid-19 pandemic has brought major changes to the financial system. Just look at the important negotiations or the recent G20 meeting where the Chinese president himself urged country leaders to develop the digital currencies of central banks.
Only a few days have passed since the G20 meeting, and today we are witnessing another meeting of the government, this time the Russian Federation, which was primarily focused mainly on supporting the regions in the fight against Covid-19, but cryptocurrencies were also mentioned.
The current prime minister, Mikhail Mishustin, has expressed interest in digital financial assets, saying:
Let’s make a number of changes to the Tax Code so digital financial assets can be recognized as property, and their owners will be able to count on legal protection in the event of any illegal actions, as well as to defend their property rights in court.
This statement is particularly important for Russian cryptocurrency holders, because if the prime minister wants to design and use the same framework for cryptocurrencies as for property, it can refute and change the new law on digital financial assets altogether, which will enter into force on January 1, 2021.
Recall the wording of the new law which states that digital currencies are “a set of electronic data that can be accepted as a means of payment that is not a monetary unit of the Russian Federation or a foreign state, as well as as an investment. Such a tool cannot be used to pay for goods or services.“
Brian Armstrong responded on his Twitter to rumors that the U.S. The Treasury and Secretary Steven Mnuchin plans to introduce several new regulations on self-hosted crypto wallets before the end of their term.
This proposed regulation would, we think, require financial institutions like Coinbase to verify the recipient/owner of the self-hosted wallet, collecting identifying information on that party, before a withdrawal could be sent to that self-hosted wallet
This sounds like a reasonable idea on the surface, but it is a bad idea in practice because it is often impractical to collect identifying information on a recipient in the cryptoeconomy. Let me explain why.
Brian thinks that many users send cryptocurrencies to smart contracts so that they can use DeFi applications. The smart contract is characterized by the fact that it does not have to be owned by any natural or legal person and therefore it cannot be identified.
CEO at Coinbase also add:
Many crypto users are sending crypto to various merchants online, paying for goods and services. Does it make sense to require customers to help verify the identity of a business before they can buy a product there?
Many crypto users are also sending crypto to people in emerging markets, where it is difficult or impossible to collect meaningful “know your customer” information. Some of these individuals are living in poverty, and may not have any permanent address or form of government ID.
B. Armstrong also thinks that a group of users who value their financial privacy is likely to refuse to upload multiple identification documents for various companies that may be compromised and stolen.
Brian added that it would be bad for America, as it would force many users to use foreign unregulated crypto companies and this could jeopardize America’s position as a financial hub at risk.
In conclusion, the CEO at Coinbase did not forgive a clear message:
If this crypto regulation comes out, it would be a terrible legacy and have long standing negative impacts for the U.S. In the early days of the internet there were people who called for it to be regulated like the phone companies. Thank goodness they didn’t.
The month of November is not even over and the Binance crypto exchange is already announcing new monthly ATH.
There is currently an enormous interest in cryptocurrencies, as evidenced by several indicators. Bitcoin is only a short distance from rewriting the new ATH and this is also reflected in the trading volume on the most popular crypto exchanges.
According to a chart published today by The Block, Binance, the most popular crypto exchange, managed to surpass the previous monthly ATH in terms of trading volume before the end of November.
Binance reached a trading volume of $ 132 billion this month, the highest level since August this year, which recorded volumes of $ 124.9 billion.
The previous highest values were measured at the beginning of 2018, when euphoria’s biggest bull run, from the end of 2017, still persisted.
In today’s article, we’ll look at how different categories of holders behaved after the rise of Bitcoin.
After yesterday, Bitcoin is only a few hundred dollars away from overcoming the previous ATH and rewriting history. However, with this increase, many traders have a dilemma as to when it is the right time to sell or if at all.
Thanks to analysts from Santiment, we can look at four graphs that show how Bitcoin owners of different categories behave.
The first graph shows the behavior of those who own between 0.1 – 1.0 BTC. These smallest players started selling BTC when it was at $ 13.5k.
When we look at the hodlers category with 1.0 – 10 BTC these traders started selling at $ 15.2k.
The third category is the larger fish with 100 – 1,000 BTC, which began to leave the boat when Bitcoin was at $ 18.0k.
Finally, there is the strongest category called Whales, which have 1,000 to 10,000 BTC and are currently still accumulating and holding their Bitcoin.
One of the most anticipated events in the crypto world will meet the estimated time and ETH 2 will be launched next week.
Just two weeks ago, we informed you that ETH 2.0 registers 50,000 ETH’s in its deposit agreement, and today we are already witnessing that the required limit of 524,288 ETH’s has been reached.
As you probably know, the launch of the ETH 2.0 network was set for December 1, but there were several factors that had to be met. One of them and the main one was the condition that there must be at least 16384 32-ETH validator deposits 7 days prior to December 1st.
As you can see in the photo published by Alex Svanevik, the network has deposited 608,704 ETH’s to date, and reached the limit with considerable reserve.
Ethereum 2.0, which will be launched next week, is a completely different and new Blockchain Proof of Stake that will lock these embedded ETH for at least two years.
SBI Group announces the official launch of the VC TRADE LENDING service for the lending of cryptocurrencies.
Today’s official announcement from SBI Group states that this service will be performed under the auspices of the subsidiary SBI VC Trade Co., Ltd., led by CEO Yoshitaka Kitao.
The service called VC TRADE LENDING will from now allow all customers to lease their crypto assets where a fee will be charged according to the loan period and quantity.
SBI VC Trade assures everyone that one of the main functions is high reliability, also thanks to the fact that companies of the SBI group, which is proud of its high reliability, are also involved in crypto loans.
If you are interested in specific conditions, SBI VC Trade has started with a crypto loan service only for Bitcoin, which has a set annual rate of 1.0% (including tax). The loan period is 84 days and the minimum loan amount is 0.1 BTC. The maximum amount you can borrow is 5 BTC.
The SBI also assures everyone that it is already preparing to expand services with other cryptocurrencies such as XRP, ETH and others.
According to the latest information, CCB has suspended its plan and will not sell its bonds through the digital asset exchange.
We have only recently informed you about this big report, which has provoked many positive reactions, but it seems that one of the four largest banks in China changed its mind at the last minute.
The information this time came from Finance Magnates, where they refer to the statements of Fusang, digital assets exchange, which mediated the sale of these digital bonds. The exchange was to receive an official letter from CCB Labuan canceling the deal on November 20.
Henry Chong, CEO of Fusang, also commented on the situation:
The bank did not give a reason for the suspension, we are disappointed that this Listing has been suspended, there were no legal, regulatory, operational, or technical issues with the FUSANG platform or the IPO process or filing.
As for the bank itself, it has so far refused to provide any information as to why it has decided to suspend the sale of $ 3 billion Bitcoin bonds. Nevertheless, Fusang has a new goal for the future and that will eventually be able to work with CCB.
What we are currently seeing on Bitcoin is a really exciting ride and if it continues, soon we may see a new ATH.
Bitcoin only needed seven days to overcome some important resistances and start fighting for a new ATH. But let’s look at the obstacles that await it and what we see on the graph.
According to the graph, it is clear which areas were the most problematic for Bitcoin in these price areas. The first was the $ 16.8K resistance zone, which Bitcoin battled for almost two days. Subsequently, the BTC easily rose to $ 18K where another hurdle was discovered. However, this psychological frontier did not stop the bulls, and after several days of fighting, they headed higher.
According to current prices, however, it looks like traders have problems to overcome the third resistance at $ 18.5K, so it seems that the next challenge at $ 19K must wait. It is very likely that in the $ 19K area, many traders will open short positions.
However, let us not forget the support zones, which will play an important role in these moments. As we can see in the chart, the bulls bounced several times from the $ 17.5K area, and we can call this area the current support. But the most important supports are in the area of $ 15.7K – $ 16K and $ 14K.
Please note that with such rapid growth, Bitcoin may lose at the same rate, so focus more on $ 16K and $ 14K support as you move.
But what is important to remember is the fact that Bitcoin is still in the course and many global media as well as well-known investors fully support it. It is precisely such factors that can push that price even higher, and the laws of the market and technical analysis may not work at all.
Current support at $ 17.5K
Very important support at $ 15.7K – $ 16K and $ 14K
Strong resistance at $ 18.5K, if will be BTC next 24H above this price this area can turn into current support
During the two-day G20 meeting on international financial stability, the Chinese president called on leaders to work on the CBDC.
This two-day virtual meeting of G20 leaders under the leadership of the Saudi presidency focuses mainly on issues related to the pandemic but also on international financial stability.
One of the most beneficial speeches was a speech by the Chinese President, Xi Jinping, who expressed a clear position and support for the digital economy in the use of all available technologies.
According to XI J., it was Covid-19 that was the main impetus that stimulated the expansion of new technologies or new business platforms such as 5G, artificial intelligence (AI) and smart cities. According to XI J., these technologies have accelerated the development of a contactless economy, such as online shopping, online education or telemedicine.
In this speech on the contactless economy, it was more or less certain that the Chinese president would also comment on the CBDC and he said:
The G20 also needs to discuss developing the standards and principles for central bank digital currencies with an open and accommodating attitude, and properly handle all types of risks and challenges while pushing collectively for the development of the international monetary system.
The Chinese president is one of the few who can afford to talk about the CBDC, as China is already testing its digital yuan in bulk and only recently informed us, the governor of the People’s Bank of China, that their digital currency has already exceeded more than 4 million transactions worth a total of 2 billion yuan ($ 299 million) in the digital currency.
Interest in DeFi is growing enormously in November, and total value locked has today exceeded $ 14B.
Decentralized Finance (DeFi) is very popular because it helps to effectively transform old financial products into more trustworthy and transparent protocols that work without intermediaries.
However, today is a bit more significant for whole DeFi, because a while ago the total value locked in DeFI reached a new ATH worth $ 14.19B.
Let’s also look at the top three places, where Maker took the first place in the lending category with $ 2.50B and a daily change of + 4.61%. The second place belongs to WBTC in the assets category and with a $ 2.32B and daily increase of + 4.03%. TOP3 closes protocol Compound again in the lending category with $ 1.59B and a 5.08% increase in 24 hours.
As for the DeFi crypto market cap, it is currently at $ 17.45B which represents a 10.63% increase over the last day.
The founder of Ethereum participated in an AMA session where he specified how it will look like with the cryptocurrency emission in the following years.
With the upcoming release of ETH 2, ETH 1 is also still a hot topic, and Vitalik Buterin has had to face various questions about the future of this crypto in the AMA session.
Probably the most interesting change is the issuance schedule on which V. Buterin commented as follows:
The issuance schedule is ~4.7M per year for the next ~1-2 years or however long it takes until the merge, and then ~0-2M per year minus burned fees (which could be even greater than the issuance!) once PoS is fully in place. I don’t think it’s even productive to give any kind of different answer.
With the current total supply, which is 113,501,292 ETH, according to Vitalik, an average of 4.7M will be mined every year for the duration of two years.
Trustnodes analysts also say that between Ethereum devs has been talked about for some time about burning a portion of the transaction fees. With this step, holders could avoid pressure from new supply as such fees would have instead gone to stakers.
In terms of trading and the ETH market, we are currently witnessing an overrun of $ 500 for the first time since June 2018.
The price of Ethereum increased by 37.6% in November alone, from a measured low of $ 369 to a maximum value of $ 508 (binance).
Jay Clayton was a guest of CNBC today where he presented his view of the current situation and also Bitcoin.
The Chairman of the Securities and Exchange Commission, Jay Clayton, who is resigning at the end of the year, also responded to the rising price of Bitcoin today, informs Coindesk.
Jay Clayton told CNBC:
What we are seeing is that our current payment mechanisms domestically and internationally have inefficiencies. Those inefficiencies are the things that are driving the rise of bitcoin.
Bitcoin is currently under discussion almost everywhere, as there is a high probability that it will soon be able to overcome the previous ATH. At the time of writing, the price is still around $ 18K.
The Chairman also commented on the moderator’s addition that Bitcoin could be regulated as a security and said “Bitcoin was much more a payment mechanism and stored value than a security.“
However, with the rising price, the commission raises a warning finger for Bitcoin and leans towards the CEO of JPMorgan Chase, who said on Wednesday that regulators would eventually come knocking as Bitcoin continues to grow.
I think we’re going to see this mature and I think we’re going to see more regulation around the payments space,
Forbes received the first response on the day of the release, when the CEO of Binance, Changpeng Zhao said it was a FUD and the allegations are incorrect. Changpeng Zhao published a total of 7 points on his Twitter where he tried to refute the derogatory claims of Forbes.
Binance after this medial pressure also came up with a second reaction in the form of strict restrictions for U.S. users to whom he sent a bulk email stating that he is unable to provide services to U.S. citizens in accordance with regulatory requirements.
However, this did not end here, and yesterday Binance definitely intervened and filed an official lawsuit against Forbes Media LLC., and two journalists (creators of the article), namely Michael Dec Castillo and Jason Brett.
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