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Bitcoin-kits continue to increase their cryptocurrency assets, Coinbase data

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While the crypto-investor greed index reaches “extreme fear” levels, and Bitcoin (BTC) for the fourth time since the beginning of the current rally fell below $ 10,000, “whales” continue to buy. The Block analyst Larry Chermak draws attention to this, referring to information from the Coinbase cryptocurrency exchange .

According to the data presented, two-thirds of Coinbase’s major customers continued to accumulate cryptocurrency over the past 24 hours.

“This is curious: according to Coinbase, 67% of customers with large amounts in bitcoins (top 10%) buy, but not sell cryptocurrency in the past 24 hours,” he writes.

In addition, according to Coinbase, 88% of XRP holders, belonging to the 10% largest, also bought cryptocurrency in the past 24 hours, while its rate experienced a 15% collapse and returned to levels that the market has not seen since 2017 rally.

“You can call me“ Mr. Cracker, ”but it is ,” writes Chermak.

The ability to track the actions of the largest cryptocurrency holders on its Coinbase platform was implemented in mid-July.

By the time of publication, Bitcoin managed to recover slightly from its local minimum. Now the leading cryptocurrency is trading around $ 10,100, after yesterday it fell to the level of $ 9,500.

Publication date 08/16/2019
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Wells Fargo Banking Holding creates stablecoin pegged to US dollar

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U.S. financial giant Wells Fargo is working on a cryptocurrency pegged to the dollar. The company announced this in its press release .

According to the company, the future stablecoin will be used as part of its own blockchain platform. Its main focus will be cross-border payments between the company and its partners around the world. Moreover, other companies outside the US will be able to use cryptocurrency to complete transactions between themselves.

The decision to issue cryptocurrency in the company is explained by the need to reduce the cost of payments between different countries, as well as the acceleration of this process. The current mechanisms cannot be called bad, but they are already outdated: high commissions, terms of several days per transaction – all this cryptocurrency can leave in the past.

Wells Fargo assures that their stablecoin will provide almost instant payments, and the process of their implementation will become much simpler. Next year, the company will begin a pilot project during which the cryptocurrency will be tested in test mode. Initially, only dollars will be available for transfers, but in the future it is planned to add support for many other currencies.

Wells Fargo is not the first bank that intends to launch its cryptocurrency, but it is not only one of the largest banks in the world and in the USA, but also one of the most expensive companies in the world. The arrival of such a player will show other companies that without their own digital currencies and blockchain ecosystems, they will have nothing to do in this market.

Publication date 09/19/2019
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North Korea plans to launch its own cryptocurrency

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North Korea is creating a cryptocurrency with which the country will be able to avoid international sanctions.

It is assumed that the cryptocurrency development project is at an early stage. Its goal is the same as that of the Venezuelan project – last year the topic of developing the state’s national digital currency, Petro, was actively discussed. A cryptocurrency that does not yet have a name will be similar to the technology used by BTC or altoins. Currently, the team that is working on the project is studying products that could be tied to cryptocurrency. It is known that the payment instrument will not be exactly supported by the national currency of North Korea.

Experts believe that North Korea has enough opportunities and developments to present a good cryptocurrency. So, we can assume that the state will be able to improve its position in this way.

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The head of the SEC said when Bitcoin will appear on large traditional exchanges

Chairman of the US Securities and Exchange Commission (SEC) Jay Clayton said that bitcoin needs more regulation for listing on large exchanges. It is reported by CNBC. “If investors believe that Bitcoin pricing is as strict as on the Nasdaq or the New York Stock Exchange, then they are very mistaken. We must get to the point where we are sure […]

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Chairman of the US Securities and Exchange Commission (SEC) Jay Clayton said that bitcoin needs more regulation for listing on large exchanges. It is reported by CNBC .

“If investors believe that Bitcoin pricing is as strict as on the Nasdaq or the New York Stock Exchange, then they are very mistaken. We must get to the point where we are sure that trade is regulated correctly , ”he stressed.

We are talking about listing conditions for bitcoin itself, and not derivatives, such as CME futures.

Recall, Clayton said earlier that some progress on Bitcoin ETFs has been achieved. VanEck and SolidX have withdrawn their application.

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Name Price24H (%)
Bitcoin (BTC)
$10,229.36
0.57%
Ethereum (ETH)
$220.08
4.23%
XRP (XRP)
$0.300851
-4.10%
Bitcoin Cash (BCH)
$319.70
-1.65%
EOS (EOS)
$3.94
-3.67%
Stellar (XLM)
$0.081295
0.32%
Litecoin (LTC)
$76.67
-2.01%
Cardano (ADA)
$0.052580
-0.74%
Tether (USDT)
$1.00
0.16%
Monero (XMR)
$75.77
-3.91%
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