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  • Acinox
    • Oct 18, 2019
    • 2 min read

The Weekly Bull - October 18, 2019.


 






The Numbers Game


The cryptocurrency market sees a steady decrease in its global market cap and trading volumes over the past 7 days. Currently, the global market cap and trading volumes stand at $220bn and $51bn respectively while the week started with a global market cap of $231bn and trading volumes of $61bn.

 

The News


Bitcoin traders keep a strict eye on the price action of BTC as it tests a weekly low at $7949. The trader community anticipates a massive rally in the near future as BTC looks strong technically via several technical indicators. News BTC.


Telegram forced to delay the launch of its Blockchain project “TON” after SEC labels Gram’s digital coin offering illegal. Telegram fights back with the SEC in the court of law stating that Gram isn’t a security. Coin Telegraph.


Without any loud announcement, The Bank of America has been testing the Ripple DLT solutions. The crypto community believes that the Bank won’t just stop there. CoinDesk.

Central Bank of Cambodia aims to slash cross-border payment using digital payment platforms. NBC Press Release.


Finastra, World’s Third Largest Fintech firm, confirms its partnership with Ripple to facilitate real-time, block-chain supported payments. This gives Ripple access to more than 9000 clients that Finastra holds. Bank Innovation.


Binance US lists DASH giving a boost to its liquidity. Twitter.


Constellation Network partners with Chainlink to Bring Big Data Solutions to Distributed Ledger Technology. PRNewswire.


 

Regulatory Updates


Facebook’s Libra encounters a new challenge after the G7 task force reports the tendencies of global financial instability and money laundering if StableCoins are launched. The finance officials of G7 say that “StableCoins” are not to be launched until the profound international risks they pose are addressed. Reuters.

 

The Street


Bloomberg’s executive editor of news spark debates in the crypto-currency after saying that blockchains are essentially inefficient and that “Bitcoin is for making transactions the man is against”. NewsBTC.


Nearly 75% of German Consumers Would Reject Facebook’s Libra. CoinTelegraph.

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