Even though the base of the vast majority of virtual currencies is Bitcoin there are interesting applications such as, for example, the national alternative currencies.
When confidence in a currency is lost, investors turn to another currency or, say, gold. In the examples of countries that have been well shaken by the financial crisis, we can see how their population has turned to invest in Bitcoin.
The 3rd largest crypto coin on the market today, XRP, has been added to Bitcasino.
Binance community proposes the idea of a parallel blockchain to the current Binance chain, called Binance Smart Chain, which will offer better smart contract functionality.
Coinbase Custody has stated that it will add support for the newly announced Compound Governance protocols which aims at moving towards a decentralized finance model.
The U.S. State of Wyoming, one of the most crypto-friendly states in America, has amended its insurance code to allow domestic insurance companies to invest in digital assets like Bitcoin.
Several local industry reports suggest that China could be all set to introduce its Digital Currency Electronic Payment (DCEP) in the market by May 2020. It will initially test the use of digital currencies among its state employees.
The Libra Association confirmed that it will abandon its original vision of a global stablecoin pegged on a multiple national currencies and go for many stablecoins each representing a fiat currency.
The digital yuan app would be available for download in Shenzhen, Chengdu, Suzhou, and Xiongan when the test begins.
Today, on Thursday, April 16th, the Ethereum price is growing steeply. The coin is generally trading at 169.70 USD.
Bitcoin price has climbed back to $7,000 after the recent fall below this level. Ethereum, meanwhile, has gained over 8% in 24 hours. ETH is trading for around $170.
China might be close to launching its CBDC as the Agricultural Bank of China has now started testing an official mobile app for the national digital currency.
ICO’s, IEO’s, and even STO’s have failed to live up to their promised hype as it became difficult for blockchain companies to raise capital through them. However, some companies have found success in the token sale model.
The cryptocurrency market is correcting again. Assets are rebounding from their respective resistance levels while the potential for significant decline remains. On shorter timeframes, instruments are reversal patterns and some of them have already left rising channels.
Andreessen Horowitz is going to start its second crypto investment fund and wants to garner $450 million in capital.