Freakerz Cryptocurrency NewsCast For Today

📮 07-11-2019

📈 MarketCap:                  $251 B

📊 24h Mcap %:                  -1.6%

⚠️ Bitcoin Dom:                 66.2%

📌 Active Coins:                2,526

📍 24h Vol %:                  -6.34%

💲 24h Vol:                     $65 B

1.  Brad Garlinghouse, the CEO of Ripple, said that 99% of cryptocurrencies will eventually go to zero. Garlinghouse was asked whether he considers that there are too many cryptocurrencies in the market, he answered that 99% of cryptocurrencies will eventually go to zero. However, there is a 1% number of digital assets that are focused on solving real issues and specific problems and are able to do that at scale, and that’s gonna be game-changing.”

2.  Malta-based cryptocurrency exchange Binance has agreed to help Ukraine prepare new rules for cryptocurrencies. Announced by the exchange Wednesday, Ukraine’s Ministry of Digital Transformation has signed a memorandum of understanding (MoU) with Binance to work together on “establishing the potential legal status of virtual assets and currencies in the country.” Under the MoU, Binance and the ministry will start a joint working group to discuss future crypto regulation and the creation of a digital asset market.

3.  Square's Cash App has started charging fees of as much as 1.76% on bitcoin purchases. The Cash App’s support website now acknowledges fees, writing: “Cash App may charge a fee when you buy or sell bitcoin. If so, the fee will be listed on the trade confirmation before you complete a transaction.” It is unclear when that language was added but there were no fees associated with bitcoin purchases as recently as September.

4.  Bitcoin whales have long exploited thin liquidity to shake crypto markets, but one watchdog says these whales are on the verge of extinction. With his eyes trained on every major transaction in the market, Whale Alert co-founder and CEO, Frank van Weert, analyzed how bitcoin’s price flux may actually connect to these large transfers and also said, at the same time, whales are a dying breed.

5.  According to its Q3 2019 shareholder letter, Square’s Cash App reported many new first-time Bitcoin (BTC) buyers. More and more users are apparently finding their way to the Square’s Cash App as a means to invest in Bitcoin. Ever since the company introduced the redesigned Cash App’s customer interface, product adoption of Bitcoin and Cash Card has increased significantly. The letter stated: “First-time Bitcoin buyers have approximately doubled and Cash Card orders have seen a meaningful uplift.”

6.  Coinbase is paving the way for customers to earn rewards on their Tezos (XTZ) funds. The trading platform announced a new staking program that will allow all “eligible US” clients holding Tezos in their Coinbase wallets to earn staking rewards on their tokens. To get started, all one needs to do is purchase or withdraw Tezos from an external account and deposit it into their Coinbase wallet address. Following the Coinbase announcement, the price of Tezos tokens jumped by nearly 24 percent.

7.  Blockchain payments firm Ripple has said that “more than two dozen” customers use its On-Demand Liquidity (ODL) solution, which leverages XRP cryptocurrency to settle cross border payments. Some of these customers include money transfer firms MoneyGram, Viamericas and FlashFX, online workforce platform that connects employers with freelancers goLance, and financial services provider Interbank Peru, among others. Overall, Ripple’s customers have crossed the 300-mark, per the announcement.

8.  As governments supporting paper fiat with digital versions of national currencies continue to form a major talking point worldwide. Max Keiser said Bitcoin (BTC) beats both fiat currency and gold because it does not need settlement. He told other forms of transactions need settlement time, but Bitcoin does not. Keiser Summarised "There’s a lot of friction, both in paper and in gold. Bitcoin, uniquely, is self-settling — the transaction is the settlement. When the transaction hits, it settles,”

9.  Ether’s USD and BTC pair suggest the continuation of the bullish breakout that started on Nov. 3, over a week after Bitcoin’s 42% daily gains. Ether continues to put space between itself and the multi-month descending triangle that the altcoin broke out of on Oct. 25. The digital asset has continued to notch daily higher lows and the most recent run to $194.60 almost set a higher high above the Oct. 25 local high at $199.77.

10.  Government authorities in the Chinese city of Shanghai, along with China’s central bank and other banks, have formed a blockchain alliance to improve trade finance operations. The Shanghai Municipal Commission of Commerce, Shanghai Customs, the People's Bank of China and the Bank of Communications, among others, are the members of the alliance. "This is the first blockchain application project in customs,” said Ye Jian, a general administration official at Shanghai Customs.