The Weekly Bull - November 08, 2019
Updated: Nov 17, 2019
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The Numbers Game
The cryptocurrency market sees a steady increase of 2% in its global market cap while trading volumes are on the decline since last week. Currently, the global market cap and trading volumes stand at $249bn and $77bn respectively while the week started with a global market cap of $244bn and trading volumes of $85bn.
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The News
Tezos prices skyrocket over 50% in the last 24 hours after Coinbase announced staking rewards on holding XTZ. CoinBase Blog.
SilverGate Bank, a California-based Pro-Crypto bank, gets listed on NYSE. CoinTelegraph.
United States blockchain-based rewards and marketing company Refereum has announced its latest partnership with decentralized streaming platform DLive to reward gamers for creating and watching content. PRNewswire.
Tokens.net Seals Partnership With Bitcoin.com as an Official SLP Partner. News.BTC.
Scaling and interoperability solution Nahmii to add Neo support in 2020. Asia Crypto Today.
The Stellar Development Foundation burns 5 million XLM from its operating fund and an additional 50 billion coins from its Global giveaway program. The cut in supply should ideally pump the value appreciation of XLM. BeinCrypto.
Tron Network’s total accounts cross 4 million after its integration with Samsung Blockchain Keystore. Business Insider.
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Regulatory Updates
The European Union doubles down on its commitment to block the Launch of Facebook’s Libra and considers to launch a digital currency of its own. The potential risks and lack of clarity associated with Libra are subject to a lot of risk to the investors as well as the global economy. Reuters.
Global banking regulator the Basel Committee on Banking Supervision (BCBS) is working to establish how much capital lenders should hold to cover the risks generated by dealing with cryptocurrencies. Business Reporter.
Hong Kong’s Securities and Futures Commission has established a new regulatory framework that allows crypto exchanges to opt-in to be licensed and regulated. Starting Wednesday, centralized trading platforms can apply for a license, providing they meet certain requirements including adequate measures for the safe custody of assets, insurance, hot and cold wallets, and private key management. News.BTC.
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The Street
FBI believes crypto to be a significant problem in the financial structure of the US; expects that these crypto-associated problems will worsen with the time. CoinTelegraph.
Ripple CEO, Brad Garlinghouse, believes that 99% of the crypto-currencies are just surviving because of hype and do not solve customer problems. Garlinghouse says only 1% of the cryptos will survive in the future. Bloomberg.