From Bitcoin valuation towards $ 12,000 after halving to MoneyGram sold XRP worth $ 11.3 million received from Ripple. Here are some highlights from the crypto market.

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Bitcoin news

There are only about 50 days left before Bitcoin halving will take place, but the debate about Bitcoin's price increase / decrease after this major event has been going on for a long time.

In fact, a recent Kraken report noted that this will be the first time that the inflation rate of Bitcoin has dropped below the target of 2% used by most central banks for currencies.

Renowned Trader Peter Brandt recently tweeted that halving would have little impact on the price of Bitcoin. He said that people are overestimating the impact of this event.

Besides, recently, Bitcoin miner and cryptocurrency investor Kris made his prediction about the upcoming halving. He asserted that the price of Bitcoin would increase after the event, but it would not be able to reach $ 20,000 but only range from $ 9,000 to $ 12,000, a little higher than the mining cost.

(embed) https://www.youtube.com/watch?v=g_PHtek5GbI (/ embed)

Bitcoin is a better holding asset than S&P, EUR or GBP

Bitcoin has long been compared to stock markets. Although BTC and S&P are highly correlated, the connection is probably slowing down. As the stock market continues to decline, Bitcoin seems to be in a stable state again.

In the first two months of 2020, Bitcoin was performing quite well. The annual Bitcoin price (YTD) is down 13%, while S&P is down 27%. Bitcoin's YTD performance ranks third when compared to other currencies. JPY / USD took first place with a decline of at least -1.08%, followed by CNY / USD with a decrease of -1.62%.

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Performance of BTC compared to fiat currencies | Source: Arcane Research

Therefore, in general, Bitcoin is the safest bet asset compared to S&P, EUR, GBP, KRW, … since the beginning of 2020.

People want to buy more than sell Bitcoin

Shenliancaijing came up report (in Chinese) shows that Bitcoin search requests have increased by 183% on Baidu in the last thirty days. This is not surprising as the global economy is in turmoil.

In turn search Bitcoin has also been significantly increased on Google. In the past three weeks, it has increased its ranking from 29 to 57 as a search term on Google Trends. Bitcoin experienced this in June, when its price reached its yearly peak.

As well as its market value, public interest in Bitcoin is very volatile. It usually moves up when the price goes up. In this case, people are clearly looking for buying opportunities while prices are low. A Redditor has upload A comparison on Google Trends shows that people seem to be more interested in buying Bitcoin than selling them.

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Ripple news

MoneyGram sold XRP worth $ 11.3 million received from Ripple

In file Recently submitted to the SEC, MoneyGram said it received an XRP from Ripple in the form of “remuneration” using Ripple's on-demand Liquidation (ODL) platform to deploy cross-border payment services.

“The company is paid by Ripple with XRP to develop and bring liquidity to the forex market, facilitated by the ODL platform and provide the reliability of forex trading.”

According to the spokesperson, money transfer company MoneyGram received $ 11.3 million worth of XRP from Ripple in payments last year, but they sold amount of this digital asset as soon as it is received.

XRP price recovered to near the threshold of $ 0.16

Since March 20, when XRP first reached $ 0.169, the price has fluctuated between $ 0.16 to $ 0.15 and has even rapidly increased to $ 0.17.

Currently, when XRP is trading at around $ 0.16, the XRP liquidity index in ODL corridors across the globe seems to have escaped the freezing point since last week, when Bitcoin hit the $ 3,800 mark.

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XRP price today | Source: Coinmarketcap

Recent data show that ODL in Mexico, Australia and the Philippines has seen a steady increase. The all-time highs according to the total XRP liquidity index are 20,391,941, 7,164,301 and 7,992,120.

News TRON

Yesterday, the STEEM Community successfully implemented the hard fork of blockchain, creating Hive. The event was the result of disagreement between them and Justin Sun, who recently acquired the project. The event between Justin and the Steem community overshadowed all development updates of Tron and BitTorrent.

Over the past week, the Tron network was upgraded to Odyssey 3.7 on March 17. Justin Sun also announced the event on Twitter.

“The main updates in this release include: Modifying code into 6 independent modules. Users can develop custom modules based on their business situation. ”

Bittorent news

The BitTorrent development team has also made an effort to upgrade the BTFS file system. Recently, they announced the milestones achieved in the upgrade.

It should also be noted that BitTorrent Speed ​​has more than 2.5 million users with 800,000 people using this app daily.

News ZCash

Electric Coin Company, the company behind Zcash, has announced in post on a January 2 blog post, a public opinion poll on the Zcash 1014 Improvement Proposal, called ZIP 1014, showed consensus in implementing a 20% fee for the test reward. cascade. The results showed that 77 people, or 87.5% of the total votes, supported the implementation, while only 11 people, or 12.5% ​​of the total votes, did not support this.

READ  Crypto News March 16: QE is a godsend for Bitcoin and news about XRP, XTZ, Binance, EOS, Cardano

However, some people in the cryptocurrency space have expressed concern that the poll may not accurately represent the community's stance.

Data provided by Zcash Foundation announced showed that 71 members on the Zcash community forum also voted in a separate poll, in which the rate of support for collecting ZEC mining fees was lower.

News Tachyon Protocol

A little-known cryptocurrency has risen in value this month, even though Bitcoin and the cryptocurrency market are in a downturn.

Tachyon Protocol's IPX token rose from $ 0.053 on March 1 to a peak of $ 0.097 on Thursday (80% growth). IPX is currently valued at $ 0.094 with a market capitalization of $ 25.2 million, making it the 109th largest cryptocurrency.

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IPX price today | Source: Coinmarketcap

The Tachyon Protocol development team says it is working to create a decentralized internet protocol. The token is not available in countries like the United States, where it can be considered a security. Tachyon Protocol has released Virtual private network on App Store and Google Play last week.

Follow whitepaper, IPX tokens are designed to be used as a means of payment among users on the network. It will also be used for staking, allowing owners to power the network and process transactions in exchange for rewards.

UBT news

UBT tokens are currently active on Bancor and on all Dapps as well as platforms integrated with the Bancor Protocol.

Currently, any user can add liquidity to the UBT pool and earn fees from UBT transactions.

Users can add liquidity to the UBT pool with the equivalent UBT and BNT value, and receive the Token UBTBNT (ERC20) Pool to generate income from transaction fees.

As the liquidity in the pool increased, it attracted a larger volume of transactions and created fees that increased the value of the Committee. Users can clear the liquidity by selling Pool Token to receive profit from the contract.

Other news

The US Senator denied dumping stock markets

Kelly Loeffler, U.S. Senator Georgia, former CEO and co-founder of cryptocurrency exchange Bakkt, recently interviewed Tucker Carlson, dismissing allegations of sell-offs. US $ 3.1 million was made before the US stock market plummeted. She has been charged with conducting unfair transactions because the US Securities Act prohibits lawmakers from using non-public information to buy or sell some investment assets.

According to the Senator, she is not involved in the decision-making process in her portfolio because it is managed by third-party financial advisers. Furthermore, she was informed of what was most recently purchased and sold on February 16, 2020, three weeks after the transaction was completed.

READ  Bitcoin mining difficulty proves to a huge 6.8% increase - a sign of advance before halving

Senator Loeffler presents documents to prove his position in the periodic transaction report. Republicans call all these accusations an “unjustified and baseless attack”.

Game giant Square Enix invests in Sandbox

Sandbox publisher, Animoca Brands announced this week that Square Enix, the publisher of Final Fantasy games, Tomb Raider and Space Invaders in Japan, participated in a $ 2.01 million investment round in 2016. 2019.

Square Enix did not disclose additional shares in this investment. It also includes investments from Japan B Cryptos Inc., True Global Ventures 4 Plus Fund GP and Minfulness Venture Fund I, L.P. and some other companies. According to Animoca Brand, the agreements were made between July and September 2019, but concerns over problems caused the Australian Stock Exchange (ASX) to postpone the announcement. public newspaper.

CitiGroup Bank invests in Komeum

US-based Citi Bank has increased its investment in decentralized financial startup Komeum based on Ethereum.

On March 10, Kris van Broekhoven, global head of commercial goods and financial services at Citigroup, disclosure that the bank has invested in stocks in Komgo.

Komgo was launched in 2018, in collaboration with ConsenSys, seeking to simplify commercial transactions in the commodity market. The Komgo platform, allows stock traders, financial institutions and commercial service providers to communicate via blockchain technology.

TSB Game in cooperation with Matic

TSB Games, the company behind the VR game, The Sandbox, has declare cooperate with Matic two-layer expansion solution.

According to the March 19 announcement, Matic will allow decentralized applications (DApps) to conduct transactions faster and create a better user experience, helping to improve decentralized transactions on the platform. .

As part of the partnership, Matic has also participated in the Sandbox's second presale round with a virtual asset called “LAND” represented by irreplaceable tokens (NFT). LAND staked by Matic will be used to help introduce the community to NFT and DApps.

Viet Cuong

Bitcoin Magazine

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