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Bitcoin reached $ 9,000, but then in a matter of minutes there was a rollback to $ 400

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On May 30, at around 19:00 Moscow time, the BTC cryptocurrency rate for the first time since May 2018 exceeded the level of $ 9,000. Reaching a new maximum, Bitcoin literally lost $ 400 in just a few minutes.

At the BitMEX site, the maximum BTC price indicator was recorded at $ 9,111, at the Coinbase exchange at $ 9,093, at the Binance trading platform at $ 9,074, and at Bitstamp at $ 9,094. So, we can say that over the last week the rate has increased by approximately 14%.

Altcoins also showed a slight increase. For example, the rate of Ethereum, the largest altcoin in terms of market capitalization, increased on May 30 by more than 2%. Over the week, the ETH rate has grown by more than 16% The Ripple coin has been growing since May 27, the XRP price has risen by more than 20% over the past week.

It should be noted altcoin Bitcoin SV. On May 29, the Bitcoin SV rate began to move rapidly upwards, in just a few hours the cost increased by 50%, reaching $ 180, after which the rate rose even more – to $ 240. The most active buyers of Bitcoin SV are Asian traders, in particular, residents of South Korea. Most of the trading with this coin falls on such trading platforms as OKEx, Huobi and Upbit. Dovi Van, co-founder of Primitive Ventures, explained that the cause of the pampas was the fake news that Craig Wright, who calls himself Satoshi Nakamoto, transferred 50,000 coins from the largest BTC wallet to the Binance exchange. This allegedly confirms that Wright is the real Satoshi, which means Binance will return Bitcoin SV to the site and officially apologize.

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Wells Fargo will launch stablecoin for internal settlements

Wells Fargo & Company, an American financial company, will launch Wells Fargo Digital Cash, a pilot blockchain service for internal payments, based on Corda Enterprise. According to a press release, Wells Fargo Digital Cash will provide almost instant international transfers between company branches using digitized funds (tokens). The company has already tested the concept on transfers from the USA to Canada. The launch of the project is scheduled for 2020 […]

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Wells Fargo & Company, an American financial company, will launch Wells Fargo Digital Cash, a pilot blockchain service for internal payments, based on Corda Enterprise.

According to a press release , Wells Fargo Digital Cash will provide almost instant international transfers between company branches using digitized funds (tokens).

The company has already tested the concept on transfers from the USA to Canada.

The launch of the project is scheduled for 2020. Wells Fargo Digital Cash will initially provide dollar payments, but then add support for other currencies.

Recall that previously the largest US financial holding company JPMorgan developed its own stablecoin JPMCoin for making international payments to large customers.

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Wells Fargo is going to present its own stablecoin in 2020

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Wells Fargo, the fourth largest bank in the US, plans to introduce its own stablecoin in 2020, which will be used in cross-border transfers.

The press release said that the new Wells Fargo platform will create an international payment network based on distributed ledger technology. With the help of this system, as well as the Wells Fargo Digital Cash asset, payments will be made. The stablecoin being developed will be pegged to the US dollar. Initially, the network will be used for internal calculations, after which it will be integrated with other applications.

Lisa Fraser, representative of Wells Fagro, noted that DLT technology has many options for use, the company believes that it can also be successfully applied in banking. In addition, Wells Fargo Digital Cash is expected to enable the company to overcome barriers that still hindered effective cross-border payments in real time.

As you can see Wells Fargo followed the example of the bank JPMorgan Chase, which also introduced its own digital currency. It is noteworthy that back in July, Wells Fargo forbade customers to use credit cards to purchase cryptocurrency and its use in transactions.

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In the Bitcoin blockchain, a record of the network hashrate and the share of SegWit transactions

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is set

The volume of computing power in the Bitcoin blockchain this Monday reached a record value above 104 quintillion per second, according to Smartbit portal data.

The record was fixed after approaching the level of 100 EH / s last week and the subsequent small rollback. Before the current growth period, which began in December and accelerated in June, the previous maximum was fixed at 60 EH / s in October 2018.

As noted earlier, over the past three months , about 600,000 new ASIC miners have joined the Bitcoin network, which has led to a rapid increase in the hash rate .

Last week, another message appeared that the authorities of one of the provinces of China are taking measures to close mining enterprises on their territory.

Also today, transactionfee portal announced another record – the share of transactions in the Bitcoin blockchain using Segregated Witness (SegWit) technology for the first time exceeded 50%.

On the main Bitcoin network, SegWit was activated on August 24, 2017. The technology is aimed at solving the problems of blockchain scalability, transaction plasticity, and also allows you to implement other optimizations. After the jump to 38% last May, the spread of SegWit slowed down and until recently ranged from 40-45%.

Casa Bitcoin developer and CTO Jameson Lopp previously spoke of the proliferation of technology that responded to the congestion of the cryptocurrency network:

"Reducing the demand for transactions, improving algorithms for calculating commissions, distributing SegWit and grouping transactions have led to more efficient use of space in blocks and reduced competition for this scarce resource."

At the same time, the price of the leading cryptocurrency , having shown a steady rise in the first half of the year, has remained in a fairly narrow range over the past months and amounts to about $ 10,000.

Publication date 09/17/2019
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Name Price24H (%)
Bitcoin (BTC)
$10,217.99
0.00%
Ethereum (ETH)
$212.48
8.13%
XRP (XRP)
$0.302214
16.23%
Bitcoin Cash (BCH)
$324.23
6.04%
EOS (EOS)
$4.10
1.68%
Stellar (XLM)
$0.065275
11.87%
Litecoin (LTC)
$75.94
4.86%
Cardano (ADA)
$0.050808
7.94%
Tether (USDT)
$1.00
-0.17%
Monero (XMR)
$74.86
0.15%
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