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Review of the most important events of the cryptocurrency industry for February 2019

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Only two months have passed in 2019, and they have already brought significant changes for cryptocurrency. The largest and most anticipated event among crypto investors was the long-awaited activation of Constantinople hard forks on the Ethereum network .

Also, to maintain the stability of the high volatility of the cryptocurrency exchange rate in recent weeks, positive news from the key financial centers of the planet – Wall Street and Switzerland, as well as the latest news about the popular messenger WhatsApp, which is ready to launch its own token in the first half of 2019, are intended. Let us see how these events have affected the cryptocurrency market.

Activation of hardfork Constantinople in the Ethereum network

So many rumors circulated in recent months around the Ethereum hard forks that some supporters have already begun to despair. But finally you can make the number of historical events February 28, 2019, when the update of Constantinople began to act. Note that it should have been held at block 7280000, which was successfully produced this Thursday.

The second in terms of capitalization, the digital currency has been successfully updated this time, in contrast to previous attempts in the fall of 2018 and in January of this year, when activation was suspended due to critical vulnerabilities discovered the day before the planned update. The company ChainSecurity, which is engaged in the audit of smart contracts , has revealed that the activation of hard forks will allow fraudsters to carry out a re-entry attack, in which hackers will be able to withdraw user funds an infinite number of times.

Now, every day, miners produce a maximum of 13,400 ethers, and the reward was reduced from 3 ETH to 2, although even before the very first hardfork Byzantium it was 5 ethers. Note that the reduction of the mining award traditionally resists part of the pool, but in the end, supporters of the further development of the project win. Also in several stages there was a reduction in the time of the extraction of blocks in the ETH network . Now it should not exceed approximately 14−15 seconds.

Since this week, the efficiency and speed of the blockchain has increased, and smart contract developers have received simpler tools. Also on this day, there was an activation of the Casper protocol, which launched the algorithm of the hybrid consensus PoW and PoS , which is not often found in cryptocurrencies, because developers usually prefer to choose one of them. The next step in the development of the Ethereum network is to activate the Serenity protocol, which will allow the blockchain to work even more stable and safer, the event is scheduled for October 2019.

But not only in Ethereum there is a network update. As early as March 10th, the changes should be added to the IOST cryptocurrency networks after the completion of the preliminary preparation, which lasted for almost a year. Thus, the cryptocurrency network will earn its own Mainnet, switching from the Ethereum blockchain, and on the same day the first decentralized applications will be launched on the updated platform. Among their clients are applications with games, crypto wallets , steylcoke and DEX-exchanges . Traditionally, against the background of this event, one can expect great volatility on IOST token quotes in the days coming to launch its own network, but if successful in the future, an increase in quotations may occur.

Facebook and JP Morgan launch their own cryptocurrencies

The social networking site Facebook, the owner of WhatsApp, cannot deny the information about the readiness to list on one or several of the largest cryptocurrency exchanges in the New York Times that appeared in The New York Times. Its launch is tentatively scheduled for the first half of 2019.

Initially, experts assumed that the Facebook bind of steyblcoin would occur to the US dollar, but already now insiders report that it is possible to navigate to several currencies in custodial accounts in banks with the largest social network user.

In previous reviews, we also noted the historic event that many financial media wrote about and shocked Wall Street, namely, the creation of JP Morgan, its largest investment-commercial bank, JPM Coin, its own investment bank . Even the most important crypto skeptic and the head of the organization, Jamie Dimon this week, during an interview with CNBC, noted the prospects for using JPM Coin not only in the interaction between the bank and organizations, but also on the estimated $ 6 trillion market of international payments, but also told about the possibilities of new steyblekoina simple consumers.

This will greatly expand the capabilities of the new product, but this will be the next stage. And in the early stages, ordinary investors will not be able to use the new cryptocurrency. Recall that the generated digital currency will be provided in the ratio of 1: 1 US dollars, which will be sent to the vaults of the bank's customers. And in the coming months, we should expect the beginning of the first payments of the created asset by bank specialists.

Earlier this week, Nasdaq launched the Bitcoin Liquid Index (BLX) and Ethereum Liquid Index (ELX) indices to track the current spot market prices on the most liquid exchanges with a delay of 30 seconds.

Also in the near future, one more liquid Ripple cryptocurrency may begin to be displayed, the index fund for which will receive the designation Ripple Liquid Index (RLX). In the future, this event should attract the traditional capital of large investors who do not trust decentralized sites, but who are ready to invest in more familiar instruments that are traded on the Nasdaq stock exchange having state licenses.

Switzerland continues to integrate cryptocurrency into financial markets

Another series of news close to financial topics came from Switzerland. This country is already ready to donate a hand-built watch with a built-in Bitcoin wallet , and now one of the largest commercial banks, Julius Baer, will provide services in the areas of storage, transactions and investments in cryptocurrency. For this purpose, an agreement was concluded with the blockchain-startup SEBA Crypto AG.

A joint project in the form of a service for banking customers will begin work approximately in the second quarter of 2019. The only deterrent is obtaining a license from the local regulator, the Swiss Financial Markets Supervision Authority (FINMA). This product is designed to facilitate the use of cryptocurrency in everyday life for businesses and individuals, as well as for investment purposes in the near future.

On Thursday, February 28, it became known about the successful holding of Airdrop by another of the major Swiss credit institutions Dukascopy Bank of the eponymous token. This event can be considered one of the very first ICOs with the participation of a regulated bank.

Dukascoin will become a service token based on the ERC-20 standard , which will be received by users of Connect911 banking messenger as a reward for active use and possession of multi-currency accounts.

Also, a message was received from Switzerland about the closure of the $ 22 million round of financing by the Pangea Blockchain Fund, although further plans include an investment of $ 200 million.

The main difference of the Pangea Blockchain Fund from traditional crypto funds will not be investing in cryptocurrency in the hope of their growth, but the search for venture projects in the blockchain area . It is these investments that can further lead to “transformations in blockchain solutions,” as stated in an official press release. Note that one of the key investors was the fund Copernicus Asset Management SA and the owner of Bitcoin.com, Roger Ver.

Technical analysis of cryptocurrency on 03/02/2019

After a brief testing of the target area in the form of resistance levels of $ 3,900– $ 4,000 and $ 4,150, a completely logical correction took place, since this growth has not yet been supported by big capital.

At the time of this writing, the course of the first cryptocurrency rolled back down and is now in the region of $ 3,800. And after a brief consolidation, we can expect a new attempt to develop the movement, which can begin with a preliminary decline to $ 3,600 and a range of $ 3,465– $ 3,500, where a long-term movement had previously developed since the beginning of the year.

Bitcoin

Note that in recent months there is an active accumulation of bitcoins in the wallets of the largest whale investors, which can be seen in the comparative image below.

An increase of nearly 150,000 in the number of accumulated bitcoins in the top 100 wallets indicates that big capital is ready for further growth, which may lead to the achievement of $ 4,100, $ 4,500 and $ 5,000– $ 5,041 in the coming months, which we have previously mentioned. Also, the goals for 2019 in the form of $ 5,280– $ 6,000 values remain relevant.

Ethereum and Litecoin

Aether after activation of hard forks expectedly decreased from the target areas of $ 150 and $ 160 to the support levels of $ 120 and $ 130.

In the short term, it is possible to decline even to levels of $ 100- $ 110, but in the longer term we can expect a breakthrough again upward and growth to $ 160 and $ 170, where the 200-day moving average is held, as well as testing the $ 200 and $ 215 marks in the coming months.

Lightcoin also continued the development of growing dynamics, which led to the achievement of the boundaries of $ 48.50– $ 50, and after overcoming them within the next weeks it is possible to achieve values of $ 60 and $ 65.

Important events of the cryptocurrency market coming up in March 2019

  • An upgrade of the Monero network protocol is scheduled for March 9, when the block 1788000 will be produced.
  • The launch of its own IOST network is scheduled for March 10, which may lead to volatility on the coin course on this day and in the next few days.

Publication date 02.03.2019
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US SEC Commission: Some Stablecoins May Be Recognized to Securities

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According to Valery Schepanik, senior consultant for digital assets of the United States Securities and Exchange Commission (SEC), the norms of securities legislation may apply to certain types of glasscoins . Reported Decrypt .

According to Shchepanik’s classification, one stablecoin can be tied to real assets like gold or real estate, the other to fiat currency, and the third to use various “financial mechanisms that support price stability.” It is the third category, in its opinion, that can become the object of close attention of the regulator.

“I came across steyblokinoy, the value of which controls a certain pricing mechanism associated with the emission, creation or redemption of another type of digital assets tied to them. Or, it is supported by control over the ratio of supply and demand in order to keep prices in a certain range , ”said the SEC representative.

According to her, if the central side controls the steakblock's price volatility, or if the buyer is promised a guaranteed income or a controlled price, such an asset can be recognized as a security.

She noted that the agency applies equally to all cryptocurrency projects. Shchepanik also emphasized that companies should contact the agency for consultation before the release of the token , and not after:

“We would prefer that people turn to us for permission or advice before they do something, rather than do something first, and then come to ask for forgiveness.”

Publication date 18.03.2019
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Japan will consolidate the rules for cryptocurrency in the category of "cryptographic assets"

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The Cabinet of Ministers of Japan proposed amendments to the laws “On Financial Instruments and Exchanges” and “On Financial Settlements”. Thus, it is planned to consolidate a number of norms regulating the market for digital assets.

The Law “On Financial Instruments and Exchanges” is aimed at ensuring the transparency of markets and the safety of investors. It contains clear requirements for operations with derivatives and securities.

Several points may be added to Japanese law.

So, it is proposed to make cryptocurrency in a separate category – “cryptographic assets”. This is consistent with the definition adopted by the G-20 countries. Companies that deal with their exchange will receive the status of "agents for the exchange of cryptographic assets."

Cryptocurrency exchanges may be required to keep clients' funds in cold wallets. If for these purposes it is necessary to use the infrastructure that is connected to the Internet, then the assets should be provided with their own funds of the exchange.

Margin trading of digital assets is proposed to regulate by analogy with the markets of foreign currencies.

"In addition, cryptocurrency companies can prohibit the use of promotional materials that encourage speculation and indulge in dishonest practices (price manipulation, insider trading, etc.)."

Publication date 18.03.2019
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Ledger Nano S Wallet Receives Certificate of the French Cyber Security Agency

Ledger Nano S was the first hardware cryptograph certified by the French Information Systems Security Agency (ANSSI). Ledger is proud to announce that it is a wallet! The obtained CSPN certificate shows a third-party assessment of security, rather than taking our word for it. Read more here: https://t.co/PYrRcFt15u#DontTrustVerify […]

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Ledger Nano S was the first hardware cryptograph certified by the French Information Systems Security Agency (ANSSI).

As noted in the company's blog, the process of obtaining the first level of a security certificate involves evaluating a product according to several criteria, including "firewall, identification, authentication and access, security of communications and embedded software."

“We are proud to announce that ANSSI has passed independent certification ,” said Ledger CEO Eric Larshevek. “ For Ledger, safety is paramount.”

He also promised that his company would make an effort to certify the rest of its products.

Recall, recently the French manufacturer of hardware wallets Ledger reported vulnerabilities from its competitor Trezor.

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Name Price24H (%)
Bitcoin (BTC)
$3,991.63
0.00%
Ethereum (ETH)
$138.04
-0.80%
XRP (XRP)
$0.313391
-0.96%
Bitcoin Cash (BCH)
$159.34
1.74%
EOS (EOS)
$3.70
-1.26%
Stellar (XLM)
$0.115249
6.31%
Litecoin (LTC)
$59.32
-2.48%
Cardano (ADA)
$0.049676
-0.92%
Tether (USDT)
$1.00
0.04%
Monero (XMR)
$51.56
-0.09%
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