Industry Insights Weekly Updates

Weekly Updates Vol. 8 (12.29-01.04)

January 4, 2019


Weekly Updates Vol. 8 (12.29-01.04)

Weekly Market Review

Market Status quo

As of 17:00 GMT on Friday (January 4, 2019), the total market cap of cryptocurrencies reached 131.37 billion dollars, and transaction volume of cryptocurrencies reached14.639 billion dollars. However, at the end of 2018, the total market value of digital currencies closed at 128.20 billion dollars and 24-hour trading volume closed at 14.064 billion dollars. Compared with last year,the total market cap rose about 2.5%and transaction volume rose about 4.1%.

The price of mainstream is shown in the following table.

  Present price17:00 Compared to end of 2018
BTC $3843.52 1.03%
XRP $0.361 0.28%
ETH $154.20 12.01%
BCHABC $162.02 1.88%
BCHSV $ 88.44 1.92%
LTC $32.57 4.63%

Weekly Industry News

Bitcoin had increased 10 Million Blockchain Wallet Users

Bitcoin finished the year at around $3,745, down roughly 81% from its all-time high of $19,783, and down 72.5% on the year. Despite the market plunge, Bitcoin is ringing in the new year with 10 million more blockchain wallet users than it had at the start of 2017.

Over 900 Retailers Now Accepting Bitcoin Cash

According to a recent Reddit post, crunching the numbers for the latest merchant accepters of Bitcoin Cash, the number of online stores accepting BCH could be over 945 and the number of brick-and-mortar retailers around 670.

The 10th anniversary of the creation of bitcoin blockchain

On January 3, 2019, it is time of 10th anniversary of the bitcoin creation block being dug out. During ten years, bitcoin has been dug out of 556,780 blocks and transferred about 396 million times. Also,Mining awards have been halved twice in 2012 and 2016, and 1,800 BTCS are being produced every day.

Bitcoin Magazine to Return to Print in 2019

Bitcoin Magazine, one of the first print publications specialising in cryptocurrencies, was created by Vitalik Buterin and Mihai Alisie in May 2012. In 2015 it was acquired by a company from Nashville, Tennessee which moved the magazine entirely online. Now, to mark the anniversary of Bitcoin’s genesis block, the company has announced that the first print edition of Bitcoin Magazine in seven years will come off the presses in the summer of 2019.

Dash Adoption in Colombia Speeds Past 300 Merchants

Dash adoption in Colombia has been rapidly increasing and recently passed the threshold of 300 merchants and 25% growth in active wallets.

Policy tracking

RBI shelves plan to launch digital currency

The RBI has shelved its plan to launch a digital currency. The central bank, in April last year, had announced it was looking at issuing its own Central Bank Digital Currency (CBDC) after it tightened the noose on cryptocurrency exchanges operating in the country, forcing several of them to shut shop. It had also set up an inter-departmental group to study the potential advantages and feasibility of the digital currency and submit its findings in June 2018.

A source said,” The government doesn’t want the digital currency any more. It thinks it is too early to even think about a digital currency.”

SEC defers issuance of final rules on ICOs

MANILA, Philippines — The Securities and Exchange Commission (SEC) is still not ready to issue its final rules on initial coin offerings (ICOs), which it was hoping to release before the end of 2018.

This after the different shareholders asked for more time to study the draft ICO rules. The SEC has revised anew the proposed ICO rules, taking into consideration the inputs of the different shareholders.

Government of South Africa tackling cryptocurrency challenge

The government of South Africa has established a crypto assets regulatory working group to investigate all aspects of cryptocurrencies and related blockchain concepts. 

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