The Bigger the Hit to a Country’s GDP, the Higher the Stock Market Jumps

The US economy shrank by an annual rate of 32.9% between April and June, the sharpest contraction triggered by the coronavirus pandemic since the second world war.

This economic shock in April, May, and June was over three times as sharp as the previous record of 10% in 1958 and about four times the worst quarter during the Great Recession.

“This is something we have never seen before,” said Jason Reed, assistant chair of finance at the University of Notre Dame.

“At first I felt it was like a natural disaster that had hit the entire country at the same time. Now it is evolving into something worse than that.”

The record-settling fall in the gross domestic product, the broadest measure of economic activity compared to the same time last year after for the second week in a row following a four-month decline 1.43 million Americans filed for unemployment benefits last week.

Economists expect the economy to recover sharply later this year, but the recent rise in infections across the US is clouding that outlook.

Interestingly, during this time, the S&P 500 jumped 24% thanks to all the money printing the Federal Reserve did. After the initial $3 trillion stimulus package, another trillion-dollar aid is expected soon. For now, Congress is struggling to strike a deal on the new round of financial support.

On Wednesday, the Fed said the US economy is facing significant challenges from the coronavirus pandemic and vowed to continue to take aggressive action to support the economy to recovery.

The US’s GDP report came as Germany, Europe’s largest economy, recorded a slump in economic growth, contracting by 10.1% in Q2, the most significant decline since 1970, while its stock market DAX jumped 28%.

The fall in GDP came as parts of the US economy shut down in an attempt to halt the spread of coronavirus across the country. The closures led to a historic number of layoffs that sent unemployment soaring to levels not seen since the 1930s Great Depression.

Now, as the first month of the third quarter comes to an end, the S&P 500 jumped 3.6% in July. But it was precious metals that stole the show.

Gold jumped 10.6% this month and broke the 2011 record to hit a new all-time high in Q2. This has been in part due to a 1.6% decline in the US dollar index, which further hit over two-year low with a 4% decrease in July.

Meanwhile, bitcoin the ‘digital gold’ woke from the slumber just last week and spiked 23.6% in July, after a 68% jump in Q2, now trading above $11,300.

“Gold, Silver, Bitcoin all hitting, or going, to new ATH,” said Max Keiser adding the bad news is all of this is because,

“global central banks are staging a debt-for-equity coup disenfranchising 7.6 billion people who will be left for dead unless they have some Gold, Silver, Bitcoin.”

Read Original/a>
Author: AnTy

Global Coronavirus Fiscal Stimulus of $8 Trillion with More Coming Up Fuels Crypto Boom

In quarter first of 2020, the US economy is contracting at a rate not seen since the Great Depression of the 1930s. Also, a total of 30 million Americans filed for unemployment claims in just six weeks.

Amidst this, the Federal Reserve printed trillions of dollars to soften the blow of the coronavirus lockdown on the economy. But it wasn’t only the Fed, other major central banks around the world fired up their money printer to print a coronavirus-triggered collapse of their economy.

And this money supply lifted up the price of stocks this month.

But what all this free money that has been created at the fastest rate ever cannot do is keep people from losing their jobs or restore lost production.

This means while the money supply is shooting up, the supply of goods is shrinking. Bruce Ng and Juan Villaverde of Weiss Crypto Ratings noted,

“More and more dollars chasing fewer and fewer goods is the textbook definition of inflation. And as inflation comes roaring back, it’s going to send safe-haven demand for top-rated cryptocurrencies blasting up.”

The authors argue that this excessive amount of fiat currencies supply has been at a time when buying crypto has become easier than ever.

Moreover, while the world is having quantitative easing, bitcoin is preparing for quantitative hardening in less than 10 days.

Becoming a safe haven

In its latest report titled “Quantitative Tightening,” Grayscale Investments also noted that bitcoin is the best bet against central banks’ money printing as unlimited fiat money could result in the debasement of the US dollar. The report states,

“Untenable levels of debt and fears of widespread default are driving the most aggressive monetary policies since Bitcoin’s creation.”

Currently, we are in an environment where government bonds are offering zero or negative yield, fiat currencies are at risk of debasement, and the coronavirus-lockdown highlighted the delivery issue with the traditional safe-haven asset gold.

The options to hedge are limited and according to the largest crypto asset manager, bitcoin is one such option that will go through supply shock this month. It summarizes,

“Bitcoin is showing signs of becoming a safe haven while maintaining an asymmetric return profile.”

The company that reported a record-breaking Q1 despite the crypto prices tanking amidst the global market rout also advised investors to “understand the effects of government monetary and fiscal intervention.”

Bitcoin market participants are also expecting this quantitative hardening to spark a bull run but Charlie Shrem recently said it will happen just not immediately.

During Virtual Blockchain Week, Shrem shared how the halving coinciding with coronavirus “a black swan event” is “crazy.”

Now as people start getting their unemployment benefits while sitting at home and suddenly bitcoin daily supply is going to be cut in half, according to him, all this money could flow into the bitcoin market.

Latest Bitcoin Price News and Crypto Market Updates

Read Original/a>
Author: AnTy

Crypto Exchanges Are On a Hiring Spree in Anticipation of Heightened BTC Halving Interest

The commerce department announced this week that the US economy shrank 4.8% in the first three months of the year, the steepest decline since the last recession. The same is the case for Europe that covers 19 countries, its economy shrank by 3.8% in Q1 of 2020, the biggest fall since 1995 when eurozone statistics first began.

Meanwhile, another 3.8 million people lost their jobs in the US last week but the pace of layoffs is slowing. Overall, an unprecedented 30 million Americans filed for unemployment benefits in the six weeks.

The US unemployment is on course to reach the levels unseen since the Great Depression as with a backlog of claims, these figures are undercounting the number of people out of work.

In March, the jobless rate rose to 4.4%. JP Morgan predicted that unemployment could reach 20%.

Exchanges focused on expansion

In the crypto market, however, crypto exchanges are on a hiring spree. Kraken that was planning to hire 250 staffers, will be recruiting 350.

Binance recently shared that its staff has grown to over 1,000 expand its workforce 25% in the first quarter. They are hiring for more people to support its recently launched mining operation, Binance Pool.

Coinbase has posted dozens of openings while crypto exchange OKEx plans to hire more staff in May to expand its workforce of over 1000 employees.

“There’s a greater awareness of crypto as an asset class among the general public,” said Nic Carter, co-founder of Coin Metrics about this trend that just added five full-time employees as well.

But the crypto sector has had its share of exodus too with ConsenSys cutting workers. Crypto-carrers.com also saw a decline in new positions, from 300 last year to 84 in April this year.

This could be because exchanges, which make the bulk of its money from trading fees, are benefiting immensely from the heightened volatility in not April but also from the March crash.

Halving in Effect

With halving less than 12 days away now, the speculation in the market is particularly heightened as we saw spot exchanges leading the current rally.

During the last two halvings as well, the bitcoin price exploded. In the wake of the 2012 halving, BTC price jumped from $12 to $1,000 and following the 2016 halving, the price had a 1,000% spike.

So, this workforce expansion could be crypto exchanges anticipating a flood of speculators and investors who don’t wanna miss out on the halving. Lex Sokolin of ConsenSys told Bloomberg,

“It is really nuts to me that there’s such speculation, since everyone already knows it is going to happen, and should be pricing it in as past information.”

“What we can learn is that the crypto markets are still irrational and short-term oriented, and that companies are betting on the speculation of others to drive their own staffing decisions.”

For now, Bitcoin’s price is trading just under $9,000 preparing for the miner inflow to be cut down in half.

Read Original/a>
Author: AnTy

Bitcoin’s in A Consolidation Period, History Says the Next Top Won’t be Before March 2021

The US economy could face 18 months of rolling shutdowns without an effective vaccine for the novel coronavirus as the outbreak flares up again, said Federal Reserve Bank of Minneapolis President Neel Kashkari. He said,

“We’re looking around the world. As they relax the economic controls, the virus flares back up again.”

As we have seen, shutdowns in an attempt to curb the spread of coronavirus have led unemployment to skyrocket in the US and markets and economies are taking a massive hit.

Kashkari warned that “this could be a long hard road that we have ahead of us,” and it’s hard “to see a V-shaped recovery under that scenario.”

The Federal Reserve has responded aggressively to mitigate the effect of the pandemic on the US economy by launching several unprecedented emergency programs including slashing interest rates to zero and $2.3 trillion in the stimulus. And more is expected to come.

With Fed printing money like crazy, experts are advising to jump out of cash and invest in hard money like gold and bitcoin.

Last week, Cleveland Fed chief Loretta Mester said the central bank was “likely not done” to keep credit flowing in the economy. She said,

“We’re always looking for things where if we have a tool to be able to do it, and if we think it’s needed, we’re going to do it.”

We are in consolidation

The world’s leading digital currency, Bitcoin, is a hard asset with a limited supply of 21 million, unlike the money which the Fed keeps on printing. Last month, in the market-wide sell-off, bitcoin crashed hard and is now trading around $6,780.

Industry commentators are emphasizing the need to invest in bitcoin during this economic turmoil because this is why the crypto asset was created in the first place and it is BTC’s biggest opportunity.

Currently, the flagship cryptocurrency is in a consolidation period while investors are accumulating the dip.

According to trader MoonOverlord this consolidation period will last longer as the higher we go the longer the period. But there is no need to be concerned because we have been at this point before and bitcoin was built exactly for this.

“The bigger the gain, the more money added to the market cap, the higher the blow off top. = The longer the consolidation,” explained the trader.

If we take a look at Bitcoin price historically, in 2011, BTC’s top led to a 92% drawdown and it took 622 days to return to its all-time high, noted analyst Ceteris Paribus.

In 2013, the drawdown was 85% from the top and this time it took 1,181 days to make a new high.

In 2017, we had an 84% drawdown and it’s been 848 days since ATH. In order to match the 2013-2017 cycle, we need 333 days more to reach ATH which puts the top of the cycle in March 2021.

Read Original/a>
Author: AnTy

Fed Unleashes Another $2.3 Trillion In Loans But Bitcoin’s Not Reacting Unlike Stocks & Gold

Today, the Federal Reserve has dramatically amped up its efforts to save the economy. The central bank is now adding junk bonds to the list of assets as businesses are anticipated to have trouble after the coronavirus pandemic hit.

The stock market jumped and Treasury yields rose while the dollar dropped after the Fed announced its $2.3 trillion program to cover small and mid-sized businesses. The statement reads,

“The Federal Reserve remains committed to using its full range of tools to support the flow of credit to households and businesses to counter the economic impact of the coronavirus pandemic and promote a swift recovery once the disruptions abate.”

Lender of all resorts

After the announcement, Fed Chairman Jerome Powell said the central bank could add other programs as well while announcing the expansion of its corporate lending programs that will include ETFs of companies that are rated below investment grade.

“Now outside of buying stocks, every asset class is open for the Fed to buy,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group.

“They’re worried about credit. They consider themselves a lender of last resort. They’re now the lender of all resorts.

Going below investment grade into the high-yield junk area is now a dangerous area they’re headed to, but that’ll be a discussion or another day.”

The US weekly jobless claims today further jumped over 16 million after 6,606,000 were reported from last week. The US job opening also fell in February, suggesting that the labor market is losing momentum.

Lucky to just be in a recession

With 90% of the US economy affected by the several weeks of state shutdowns, the economy is already expected to be in a recession. Chris Rupkey, chief economist at MUFG in New York said,

“The economy would be lucky to just be in a recession right now instead of what is looking more and more like the twilight zone of depression if Washington policymakers aren’t careful.”

The Fed has been aggressive in its approach by slashing interest rates to zero, adding massive amounts of liquidity to the market and committing to purchasing a massive amount of Treasuries.

Congress has already authorized a $2.2 trillion aid package and is now discussing expanding it. “We acted forcefully to get our markets working again,” said Powell, adding their efforts have improved market conditions.

Bitcoin doesn’t care about the stimulus

On the back of stimulus, S&P 500 and Dow each jumped 1.3%, crude oil took a big spike of over 9% after reports that Saudi Arabia and Russia are pacing towards an agreement to cut output.

While gold increased 2.33%, Bitcoin unexpectedly in a reverse move is trading at $7,278, down 0.69%.

Crypto commentators like VanEck’s Gabor Gurbacs, digital asset strategists at VanEck, however, maintain that “Central banks buying assets from self-printed money” which is “a modern form of nationalization,” Bitcoin fixes this.

“Expect not a market meltdown, rather a gold & bitcoin melt-UP,” said Tuur Demeester of Adamant Capital.

Read Original/a>
Author: AnTy

China’s Digital Yuan will “Certainly Erode the Dollar’s Primacy in the Global Financial Market” – Deutsche Bank Report

  • Cash to remain part of the economy for decades to come but digital payments will grow at “light speed”
  • Mobile payments to quadruple in the next five years while blockchain wallets by decade end
  • Cryptocurrencies have the potential to revolutionize payment standard

The latest research on “The Future of Payments,” by Deutsche Bank titled “Part I. Cash: the Dinosaur Will Survive … For Now,” talks about the existence of cash even though there would be a transition to the digital payments.

The first in a three-part series where the bank forecasts trends in cash, online, mobile, cryptos, and blockchain, it predicts that cash will be part of the economy for decades to come because people have developed a deep-rooted trust in the paper during uncertain times.

Factors contributing to Cash‘s long-term existence involves the paper money being easier to monitor the spending, faster to pay, really convenient, accepted almost everywhere, a secure method of paying, and keeping the purchases anonymous. Cash is also easier to tip and to avoid cyber-attacks on users’ money, said the 3,600 customers surveyed across the US, UK, China, Germany, France, and Italy by the bank.

Digital Payments to Grow at “Light Speed”

While cash will exist, this period will also see digital payments growing at “light speed,” which it says would lead to the extinction of the plastic cards.

Despite encountering regulatory hurdles, blockchain wallet users continue to “mirror” the Internet users which the bank expects to hit 200 million, quadruple, by the end of the decade.

Over the next five years, the German multinational investment bank says mobile payments are expected to quadruple, the effects of which are expected to arrive sooner in emerging markets.

“As China (and India) develop electronic, crypto, and peer-to-peer strategies, the epicentre of global economic power could shift,” it says.

The bank points out how China is already working on a central bank-backed digital currency that could be used as “a soft- or hard-power tool.” Companies in the country are, in fact, forced to adopt a digital yuan which Deutsche Bank says “will certainly erode the dollar’s primacy in the global financial market.”

Further experimentation expected in a post-financial-crisis environment

While providing a detailed explanation of the most famous cryptocurrency Bitcoin, it notices that BTC is a highly volatile currency. To minimize the fluctuations, fiat-backed stablecoins have been embraced whose “price stabilisation usually requires some kind of trusted intermediation or centralised infrastructure.”

Cryptocurrencies, the banks says is still in the early adoption stage but “we should expect further experimentation to take place in the context of a rapidly digitising society and a post-financial-crisis environment.”

As for the crypto adoption, though stores have started accepting cryptos as a payment method, the number is small but the growth trend is noticeable among online travel booking platforms and through retailers like AT&T and Newegg.

Payments made by Bitcoin have also taken off but they still represent a “tiny fraction” of global payments.

“Nevertheless, cryptocurrencies have the potential to revolutionise payment standards,” said Deutsche.

Read Original/a>
Author: AnTy

Top 20 Best Cryptocurrencies in 2020: Which Coins to Watch For This Decade

As the new decade dawns upon the emerging digital asset economy, it’s important to analyze the current cryptocurrency market landscape and find out which are the top altcoins and tokens are worth keeping an eye on in 2020 and beyond.

It is no surprise that throughout 2019, the crypto sector gained a lot of mainstream traction, with many new investors entering this space thanks to Bitcoin’s amazing recovery which saw the premier crypto asset soar to a price point of around $14,000. Not only that, but a whole host of experts are also of the opinion that 2020 could see this burgeoning market space scale up to new heights, with many premier digital currencies like ETH, BCH, BTC crossing their previous ATH values this year.

While Bitcoin (BTC) is an obvious choice to kick things off with our list of the best cryptocurrencies to pay attention to in 2020, there are other emerging coins and blockchain token projects worthy of keeping tabs on as the world begins its transition into the digital value transfer economy.

Top 20 Cryptos that You Should Consider Investing in

In this article, we will look at some of the best crypto investment options of 2020. So without any further ado, let’s jump straight into the heart of the matter.

BITCOIN (BTC)

Even today there is absolutely no doubt in anyone’s mind that BTC is by far the most lucrative crypto asset in the market. To put things into perspective, the flagship digital currency currently accounts for more than 60% of the global crypto market share. If that wasn’t enough, anytime the currency experiences any sort of volatility, the rest of the market tends to follow suit.

In terms of its financial potential, Bitcoin is still considered by many as being the perfect investment avenue for novices as well as seasoned investors. Not only is the asset tried and tested, but its infrastructure has grown leaps and bounds over the past decade or so as a result of which many pundits (including everyone’s favorite crypto believer John McAfee) believe that BTC will most likely hit a value threshold of $100,000 by the end of 2020.

  • All-time High (ATH) Value: $19,892
  • Market Debut: 2009
  • 2019 High: $13,793
  • 2019 Low: $3,459

ETHEREUM (ETH)

As many of our readers are probably aware of, after BTC, Ethereum (ETH) is the world’s second-largest cryptocurrency by total market capitalization. The asset was launched back in 2015 and over years it has risen to become one of the most sought after digital currencies in the market. In regards to what makes ETH different from its closest rivals, it can be seen that the currency makes use of a framework that is meant to support several novel decentralized apps that have been built atop the Ethereum blockchain.

As a result of its amazing dApp capabilities, the Ethereum ecosystem can offer its users with a host of amazing features such as:

  • Seamless decentralized governance
  • Smart contract utilization

Last but not least, Ethereum currently boasts of having one of the most active developer communities in the world. As a result of this, many finance experts believe that the currency is destined for big things in 2020.

  • All-time High (ATH) Value: $1396
  • Market Debut: 2015
  • 2019 High: $$345
  • 2019 Low: $103.2

RIPPLE (XRP)

XRP is another digital currency that has become extremely popular since its release back in 2012. From a technical standpoint, it bears mentioning that the premier cryptocurrency plays an important role in facilitating the transactions taking place within the Ripple ecosystem. In this regard, Ripple can essentially be viewed as a private financial services platform that offers its users with a host of amazing products including:

  • XRapid
  • xCurrent
  • RippleNET

As of 2019, Ripple’s various services are being made use of by a large number of established banking institutions all around the world including Santander, Standard Charter, Cuallix, etc. This is primarily because Ripple and XRP have allowed these mainstream players to facilitate their international, cross-border transactions in a seamless, hassle-free manner (that too at a fraction of the cost that they previously had to pay when making use of the SWIFT network).

Last but not least, XRP is currently the third-largest cryptocurrency available today in terms of its overall market capitalization. However, a couple of years back, it was able to dethrone ETH for the second spot but was unable to maintain its financial dominance for more than a few days.

  • All-time High (ATH) Value: $3
  • Market Debut: 2012
  • 2019 High: $0.48
  • 2019 Low: $0.25

DIGIBYTE (DGB)

Even though a lot of causal crypto enthusiasts may not have heard of DigiByte (DGB), the cryptocurrency is touted to be one of the most promising financial prospects of 2020. Founded in 2014 by Jared Tate, what makes Digibyte so unique is the fact that it is completely decentralized and offers tx speeds that are much higher than many of its digital counterparts. For example, it is nearly 40 times faster when compared to BTC because of its amazing block times.

Technically speaking, Digibyte was the first blockchain platform to successfully implement the Segregated Witness (SegWit) protocol that allows tx confirmation data to be maintained separately from their associated block info. This allows Digibyte to process transactions at an extremely high rate without compromising on the security side of things (even in the slightest). The ultimate goal of DigiByte is to create a global payment system accessible to people around the world.

  • All-time High (ATH) Value: $0.128
  • Market Debut: February 2014
  • 2019 High: $0.016
  • 2019 Low: $0.0052

LITECOIN (LTC)

Launched just a few years after Bitcoin, Litecoin (LTC) was initially intended to be a less resource-intensive version of Bitcoin. With that in mind, it bears mentioning that LTC’s core coding structure is pretty much the same as Bitcoin, except for a few tweaks here and there. As things stand, the currency offers block times that are nearly 4 times faster than what Bitcoin currently offers. Additionally, LTCs total token supply is 4 times as big as that of BTC.

Lastly, back in 2018 LTCs creator, Charlie Lee sold all of his LTC tokens, sparking fears that the project may become worthless overnight. However, as we all know now, Litecoin has only grown in strength since then with many experts claiming that the currency is destined for great things in 2020. Only time will tell what the future has in store for the premier cryptocurrency.

  • All-time High (ATH) Value: $363.60
  • Market Debut: April 2013
  • 2019 High: $141.70
  • 2019 Low: $30.70

MAKER (MKR)

Maker (MKR) is the digital token that is used to facilitate all of the transactions taking place within the Maker digital ecosystem. What makes MKR unique is its limited market supply of around 1 million tokens as well as the fact that it can serve as as a smart contract platform that backs and stabilizes the value of the stablecoin DAI using niche concepts such as:

  • Collateralized debt positions (CDPs)
  • Autonomous feedback mechanisms
  • Incentivized external actors.

Additionally, it also bears pointing out that MKR tokens are not only used to pay transaction fees within the Maker ecosystem but they also equip holders with voting rights to help maintain the decentralized balancing mechanism of the system.

  • All-time High Value (ATH): $1,687.86
  • Market Debut: January 2017
  • 2019 High: $784.54
  • 2019 Low: $367.01

BINANCE COIN (BNB)

On paper, Binance Coin (BNB) appears to be the most successful digital currency ever released by a cryptocurrency exchange. For starters, BNB has been trading well above the $15 mark for more than six months now despite the market at large being faced with insane bearish conditions all through 2019. Additionally, many pundits believe that as long as Binance continues to do well as an exchange, the BNB token will continue to possess considerable value.

Lastly, it should also be highlighted that while many people view BNB as an excellent investment channel, there are also those people who employ BNB because they regularly trade high volumes on Binance and want to cut down on their peripheral costs (such as tx fees, gas fees, etc).

  • All-time High (ATH) Value: :$39.10
  • Market Debut: July 2017
  • 2019 High: $39.08
  • 2019 Low: $5.90

CARDANO (ADA)

Cardano (ADA) is the brainchild of Ethereum co-founder Charles Hoskinson. On paper, it seems to share a lot of similarities with Ether. For example, it allows users to construct novel dApps and smart contracts. However, upon closer inspection, one can see that Cardano and the ADA token are designed to help resolve many of the interoperability and scalability-related problems that are plaguing the crypto world today.

To be a bit more specific, the development team behind Cardano is especially focused on maximizing the efficiency of the international payments market by cutting down many of the time and fee-related issues currently facing this burgeoning domain.

  • All-time High (ATH) Value: $1.26
  • Market Debut: October 2017
  • 2019 High:$1.01
  • 2019 Low: $0.03

CHAINLINK (LINK)

The name Chainlink (LINK) has become extremely popular throughout 2019 amongst crypto enthusiasts all over the world, because when the market at large was struggling to find its feet due to all of the bearish pressure being faced by this sector, LINK continued to surge and grow.

In its most basic sense, LINK can be thought of as an Ethereum token that is used to drive Chainlink’s native decentralized oracle network. Owing to the use of its novel framework, the platform can deploy ETH smart contracts, to connect with several external APIs and payment systems. Not only that, but Chainlink also has the unique ability to transfer information in/out of the native blockchain in a manner that is highly secure, trustworthy, and decentralized.

  • All-time High Value: $4.07
  • Market Debut: September 2017
  • 2019 High: $4.07
  • 2019 Low: $0.298

CRYPTERIUM (CRPT)

Even though the name Crypterium might not be that popular amongst crypto enthusiasts globally, the currency has shown a lot of potential in 2019. In its essence, it is an Ether-based token that serves to power all of the native transactions associated with the Crypterium Wallet.

However, one of the most interesting facets of Crypterium is that 0.5% of every transaction fee associated with the platform is used to burn CRPT tokens, which essentially drops the total token supply volume in the long run (a feature that might prove to be extremely valuable for investors later down the line).

  • All-time High Value: $2.51
  • Market Debut: January 2018
  • 2019 High: $0.709
  • 2019 Low: $0.095

0X (ZRX)

Technically put, we can see that 0x (ZRX) is a permissionless protocol that provides developers with a foundation using which they can create their very own DEXs (decentralized exchanges). Not only that, from a purely operational standpoint, 0x makes use of off-chain transaction relayers and Ethereum smart contracts to eliminate many of the issues plaguing this niche market space.

The ZRX token essentially serves as the fundamental payment unit that drives the 0X protocol. Additionally, it is also used for governance related purposes (especially when network upgrades need to be implemented). Looking ahead at the currency’s financial potential for the year 2020, many experts are hopeful that the token will perform quite well this year.

  • All-time High Value: $2.47
  • Market Debut: August 2017
  • 2019 High: $0.379
  • 2019 Low: $0.15

EOS (EOS)

EOS is a cryptocurrency that was created by Dan Larimer, a world-renowned developer and crypto pioneer, back in 2018. The project first came to the attention of the masses when its associated ICO successfully was able to raise a whopping sum of $4 Billion from investors spread out across the globe.

What makes EOS so unique is the fact that it makes use of a novel consensus mechanism called the delegated POS (proof of stake mechanism) that not many other currencies currently employ. Not only that, the platform does not make use of a fixed mining protocol, instead, block producers are rewarded for generating blocks based on their overall efficiency.

From its very inception, EOS has continued to grow in popularity and since the start of 2020, the currency has been trading around the $2.70 mark.

  • All-time High (ATH) Value: $23
  • Market Debut: July 2017
  • 2019 High: $8.28
  • 2019 Low: $2.35

STELLAR (XLM)

Launched in 2014, Stellar seeks to provide crypto enthusiasts all over the world with a super-fast cross-border payment system that is easy to use as well as transparent in nature. Also worth mentioning is the fact that back in 2014, XLM was trading for almost nothing, however, by the end of 2018, the currency’s value had risen to a whopping $0.94. Heading into 2020, XLM is priced at around $0.06. And even though the platform continues to face increasing competition, many experts are confident that good things lay ahead for the Stellar ecosystem over the coming few months.

  • All-time High (ATH) Value: $0.94
  • Market Debut: August 2014
  • 2019 High: $0.14
  • 2019 Low: $0.044

BASIC ATTENTION TOKEN (BAT)

Basic Attention Token (BAT) is by far one of the most interesting cryptos in the market today. This is because it is an ETH-based token that functions as the underlying fuel for Brave browser’s blockchain-based digital advertising platform.

For those of our readers who may not be aware of what Brave is, it is the world’s only web browsing app that pays users for their surfing activities. Users are given a certain amount of BAT tokens for all of the ads they view on the browser.

  • All-time High (ATH) Value: $0.88
  • Market Debut: June 2017
  • 2019 High: $0.449
  • 2019 Low: $0.105

KYBER NETWORK CRYSTAL (KNC)

The Kyber Network Crystal (KNC) is a cryptocurrency that provides its users with the option of facilitating instant token swaps, Additionally, it should also be remembered that the Kyber network serves as a decentralized, peer-to-peer crypto-asset exchange that makes use of a dynamic reserve pool, that allows the system to maintain its overall liquidity in a highly seamless manner. Lastly, much like Crypterium, the Kyber network too makes use of a deflationary model to minimize its liquidity issues.

  • All-time High (ATH) Value: $5.27
  • Market Debut: September 2017
  • 2019 High: $0.323
  • 2019 Low: $0.11

CRYPTO.COM (MCO)

As many of our readers may be well aware of MCO as a popular digital token that is being used by crypto enthusiasts around the world to gain access to a wide range of products and services. Some of the core selling points of the platform include:

  • MCO Visa cards
  • An MCO wallet
  • Portfolio building services

Additionally, through the use of MCO Visa cards, users can reap several unique benefits such as cashback offers on Airbnb and Expedia bookings as well as 100% rebates on their Spotify and Netflix subscription plans.

  • All-time High (ATH) Value: $21.71
  • Market Debut: July 2017
  • 2019 High: $7.39
  • 2019 Low: $1,89

RIPIO CREDIT NETWORK (RCN)

Even though the overall market capitalization of RCN is quite low at the moment, many experts believe that the currency is destined to break out in 2020. This is because the Ripio Credit Network provides investors/crypto enthusiasts access to a global credit network that is transparent and can connect them with various lenders, borrowers, and loan originators (without the use of a middleman).

If the project can garner the traction that many experts believe it will, it should not be surprising to see RCNs value soar to new heights within the next couple of months.

  • All-time High (ATH) Value: $0.466
  • Market Debut: October 2017
  • 2019 High: $0.056
  • 2019 Low: $0.010

TIERION (TNT)

TNT is an ETH-based token that is used for verification-related matters within the Tirion ecosystem. For those of our readers who may not be aware of what Tierion is, it is a platform that allows crypto enthusiasts/developers to make use of the system’s native blockchain for a host of different data verification purposes.

As things stand, it is estimated that Tierion is compatible with a total of 500+ apps that are designed for the verification of on-chain data. In this regard, as the number of supported apps continues to increase, it would not be surprising to see the value of TNT soar and grow.

  • All-time High (ATH) Value: $0.34
  • Market Debut: August 2017
  • 2019 High: $0.084
  • 2019 Low: $0.011

DECRED (DCR)

In its most basic sense, Decred (DCR) is a fork of BTC that is completely open-source based and lays great importance on things like on-chain governance. To be a bit more specific, the platform seeks to rectify many of the issues that are currently facing the Bitcoin network to create a digital asset that is truly decentralized and autonomous.

As per several reports circulating on the internet, it is being rumored that in 2020 Decred will deploy an innovative hybrid proof of work (PoW) and proof of stake (PoS) consensus voting system to fight global censorship that is currently affecting a large number of people all over the world.

  • All-time High (ATH) Value: $117.76
  • Market Debut: February 2016
  • 2019 High: $35.91
  • 2019 Low: $12.99

BITCOIN CASH (BCH)

One of the largest cryptocurrencies by total market capitalization today, Bitcoin Cash (BCH) came into existence back in 2017 after several key personnel associated with the BTC ecosystem started to have differences of opinion regarding the currency’s block size limits. As things stand, while BTC is primarily viewed as a store of value, BCH is marketed more like an everyday payment currency.

Additionally, it also bears mentioning that back in November 2018, BCH underwent a hard fork that saw the creation of Bitcoin Cash (BCH) and Bitcoin Satoshi’s Vision (BSV).

  • All-time High (ATH) Value: $3,764
  • Market Debut: July 2017
  • 2019 High: $508
  • 2019 Low: $118.57

Top 20 CryptoAssets Recap

The world of bitcoin, cryptocurrency and blockchain is happening fast. While some want the bitcoin price to moon before, during and after the bitcoin halving, there are many coins, tokens and blockchain projects that are worthy of growing into major players in the 20’s decade.

While BitcoinExchangeGuide covers all trending news and updates, and remains unbiased towards which coins, tokens and cryptoassets covered in our daily cycle of announcements and events, these digital assets stand out as ones we are recommending everyone keep a close eye on as they have real people, real visions and real momentum to withstand the ups and downs of the crypto market and stand the test of time as the world welcomes the blockchain-based era of finance.

These 20 coins are the most prominent virtual currencies to start the new decade and hold further promise that all bitcoiners and crypto enthusiasts should watch out for in 2020. Special shoutout to the resources, industry and experts who helped weigh in on which are the best cryptos to keep an eye out for this year.

Leave comments and feedback below about which coins should be added or shouldn’t make the list of potential catalysts in the 20’s decade.

Read Original/a>
Author: Andrew Tuts

China’s Cashless Payments Push is a Testimony that Bitcoin Will Succeed

China is racing ahead in becoming a fully digitized economy, which explains why it will soon have to adopt Bitcoin and other digital assets in order to cope with the upcoming nature of its economy.

It is apparent that China is becoming a blockchain-friendly nation. and warming up to new technologies in a quest to get ahead of its closest competitors. It also believes in order to enhance state foundations they will need to be on board with Blockchains technology.

In the past few years, the economy of China has witnessed notable progress on cashless payments delivered by tech-based companies in the country such as Alipay and Weibo among others. Consequently, it’s possible to purchase nearly anything with a Smartphone. A report by Bloomberg revealed that the big jump occurred between 2015 and 2016 during which transaction values for digital payments in China rose by a whopping 382 percent. Currently, the country has so far embraced cashless payments as the norm.

What Does it Mean for Bitcoin?

With universal adoption of cashless payments, Bitcoin and other digital assets are likely to get a boost. The implementation of cashless payment is in line with the crypto industry’s initial goal, which was to encourage peer-to-peer settlements without irregular banking procedures.

Since China is already using cashless payment system without cryptocurrencies, it’s quite likely that the country will incorporate digital money into the existing systems. Against that backdrop, many tech giants in the country such as Alibaba are investing heavily on blockchain. Currently, China controls 2/3rds of all blockchain-based patents worldwide.

China is Ahead With Fintech Infrastructure

While everyone else is striving to incorporate cryptocurrencies in their systems, China’s fintech infrastructure is already mature. This puts the country in a better situation to simply plug cryptocurrencies into their existing models. This would lead to faster and easier adoption.

Judging by President Xi Jinping’s recent remarks, the government seems skeptic about cryptocurrency but warming up to blockchain technology. However, the country will soon realize that cryptocurrency is part of blockchain and one cannot exist effectively without the other.

Read Original/a>
Author: Hank Klinger

SBI Ripple Asia Launches First Money Transfer Service Between Japan and Vietnam

  • Vietnam is a “booming” economy and of the most attractive ones around the world
  • SBI CEO: “We will also develop remittance services that incorporate crypto-assets in the future.”

SBI Ripple Asia and SBI Remit, an international money transfer service, announced the launch of the first Japan-Vietnam money transfer service in real currency using the Distributed Ledger Technology (DLT) with the Vietnamese bank, TPBank on Nov. 15.

SBI Ripple Asia is SBI Group in collaboration with Ripple Labs offering technology support to financial institutions interested in RippleNet.

TPBanks is their latest addition that will leverage Ripple technology to improve their business and customer experience.

SBI Group is also an investor in the bank and has a shareholding of 19.9%. Earlier this month, we reported that Tien Phong Commercial Joint Stock Bank (TPBank) has joined RippleNet. On this collaboration, Nguyen Hung, CEO of Tien Phong Bank said,

“Our cooperation with SBI Ripple Asia Co., Ltd on the application of blockchain technology in cross border money transfers marks an important turning point in enhancing our customer experience and makes international money transfers via TPBank faster, more convenient and safer than ever before.”

Booming Vietnamese Economy an Attractive Market

Vietnam-Japan is a “booming” remittance corridor with the popularity of Vietnamese residents in Japan growing 4.57 times over the past five years. These numbers are further expected to increase.

“The booming Vietnamese economy is one of the most attractive markets around the world,” said Yoshitaka Kitao, CEO, President and Representative Director of the SBI Group and a member of Ripple’s Board of Directors. He added,

“The adoption of RippleNet will further differentiate the company from its competitors. We will also develop remittance services that incorporate crypto-assets in the future.”

SBI Remit, that is in partnership with MoneyGram and major Asian financial institutions will provide the TPBank safe and convenient services for the Vietnamese customers in Japan through RippleNet.

RippleNet is Ripple’s settlement platform with a network of over 300 financial institutions worldwide to enable faster, lower-cost payments around the world. It will ensure that transactions are executed faster while managing safety and transparency.

Read Original/a>
Author: AnTy

French Finance Minister: Libra Will Take Away State’s Power To Control Currency

French Economy and finance minister Bruno Le Maire attacks Libra again this time claiming that Facebook’s led stablecoin will intrude on one of the most important national government mandates, issuance of currency.

In an op-ed to Financial Times, Le Maire stated if Libra was allowed to take off it will take away the sovereign power of states to issue and control their own currencies which will have unprecedented repercussions to the world’s economy and financial system.

Le Maire’s opinions are similar to his German counterpart, Olaf Scholz who has maintained that Libra should not be allowed in Europe as it will infringe on the sovereignty of the countries.

Le Maire stated that he can’t imagine one of the most powerful tools of a state, monetary control, and policy, being taken over by private companies that are not subjected to any democratic control.

The finance minister explained that after the creation of the euro in 1999, the EU member states gave up some aspects of their sovereignty to a more powerful European project. He pondered whether states are ready to allow Facebook together with other members of the Libra Association to provide private currency and undermine the effort made by EU member states.

Le Maire reiterated his sentiments in a tweet claiming that sovereignty, both political and monetary, can never be shared with private companies.

France has been one of the harshest critics of Libra which is facing intense pressure from policymakers around the globe. Politicians and regulators have been raising concerns with the Libra project fearing that Facebook will have immense power on money issues around the world.

In the past, Le Maire has categorically stated that France will never allow Libra to operate in the country as it is a threat to the EU’s financial systems among other risks.

According to CoinDesk, Le Maire, the EU needs to move faster and come up with innovative cross border payment systems as well as central bank-issued digital money to counter Libra’s threat. He explained that China should not be left to be the only player in the market on the issue.

Read Original/a>
Author: Joseph Kibe