Bitcoin Addresses With Any Balance Hit All-Time High

According to data compiled by Coin Metrics, a crypto asset market analysis firm, the number of Bitcoin addresses that hold any amount of satoshis reached a new all-time high between October and November 2019. According to the data, more than 28,393,045 addresses held some balance of bitcoin in that period, eclipsing a previously achieved all-time high of 28,384,557 accounts in January 2018. Shared on Twitter by Avon Ventures investor Alex Thorn, this graph hints at a rise in Bitcoin popularity in terms of actual use. Shared on Twitter by Avon…

Blockchain and DLT in International Trade

Distributed ledger technology, colloquially termed “blockchain,” is making a bold promise to help bring the trade industry into the digital age. To help shed light on the intricate workings of the technology and the role that it is playing in the international trade industry, Trade Finance Global partnered up with the World Trade Organization earlier this month to produce a 56-page report titled “Blockchain & DLT in Trade: A Reality Check,” endorsed by the International Chamber of Commerce. David Bischof, deputy director at the ICC’s finance for development hub, shared…

Lithuanian Central Bank Announces Blockchain Collector Coin

The Bank of Lithuania announced that it will release a digital, blockchain-based collector coin in the spring of 2020, according to a press release on Dec. 9. The coin is dedicated to the Act of Independence of Lithuania on Feb. 16, 1918, and its 20 signatories. In homage to the year of the act, the coin will bear a denomination of 19.18 euros, while its size and form will resemble a credit card. Bank of Lithuania board member Marius Jurgilas said they chose the theme because of the significant role…

Bitcoin Price Fills $7.5K Futures ‘Gap’ as Trader Weighs $8K Potential

Bitcoin (BTC) fluctuated around $7,500 on Dec. 9 after a weekend of range-bound movement reduced volatility concerns for traders. Cryptocurrency market daily overview. Source: Coin360 Bitcoin delivers classic futures “bounce” Data from Coin360 and Cointelegraph Markets showed the largest cryptocurrency trading in a $250 corridor since Friday, marking local highs of $7,604 before briefly reversing to $7,395 on Sunday. Since then, the $7,500 boundary has acted as a centerpiece for Bitcoin, which comfortably filled the latest “gap” in futures markets once again as the week began. An increasingly common feature,…

Cryptocurrency Exchange OKEx to Launch Options Trading This Month

Malta-based cryptocurrency exchange OKEx announced that it will launch crypto options trading on Dec. 27. In a press release on Dec. 9, the exchange said that the addition of options makes OKEx the “first crypto exchange to offer C2C, spot, futures, perpetual swap, and options trading under the same roof.”  The options will allow the platform’s users to buy or sell an underlying asset after paying a premium. While real options trading will begin on Dec. 27, simulated trading is scheduled to start in just three days, on Dec. 12.…

China’s Central Bank to Lead Real-World Pilot of Digital Yuan: Report

China is at last planning to conduct the first real-world test of its central bank digital currency (CBDC), fresh reports claim.  According to local news outlet Caijing on Dec. 9, the initial pilot for the CBDC is set for the city of Shenzhen before the end of 2019, and may possibly include the city of Suzhou.  Banks in a digital currency “horse race”  Under the auspices of China’s central bank, the People’s Bank of China (PBoC), four major banks and major economic participants such as China Telecom will test digital…

Gov’t Seeks to Tax Crypto Transactions as Capital Gains

The South Korean government plans to tax capital gains on cryptocurrency transactions. A Dec. 9 report from The Korea Times reveals that a revised bill to introduce the measure will be drawn up by the country’s Ministry of Economy and Finance by the first half of 2020. In parallel, the Korean National Assembly is in the process of advancing a related bill aimed at increasing transparency in cryptocurrency trading. If passed, the new regulations would come into effect one year after the Assembly’s plenary session. While the government’s capital gains…

Bitcoin News Summary – December 9, 2019

   Ethereum successfully upgraded to its latest version, dubbed “Istanbul” over the weekend. The update contains numerous improvements that address Ethereum’s security against DDoS and spam attacks, gas usage costs, and smart contract flexibility. Istanbul also makes Ethereum interoperable with Zcash. While the fork was highly anticipated, the effect on the price of ETH has thus far proven mild. $8.9 billion was moved over Bitcoin’s blockchain within the span of one hour, setting a new hourly record in terms of value transferred. The amount was moved by the Bittrex…

No More Bitcoin for Nordea Bank Employees, Experts Question the Motive

An act of paternalism or a case of generic Bitcoin (BTC) distrust? It is hard to make out the exact reasons for Nordea Bank’s ban on its 31,500 employees trading in Bitcoin or other cryptocurrencies — even on their own time — a prohibition that was upheld on Dec. 2 by a Danish court. In a press release posted by the court following its ruling, Nordea Bank noted that, “Employees are permitted to keep any existing [crypto] holdings,” though it added that they were encouraged to sell them. As reported…

Ethereum Istanbul Hard Fork Get Support From Major Crypto Exchanges

Following the successful Ethereum Istanbul hard fork update, several popular exchanges have announced their official support for the network upgrade. Yesterday, on Dec. 7, the Ethereum’s network saw ample collaboration between node operators and miners to update the software to support the Istanbul hard fork. Some crypto exchanges even sounded their willingness to update a few days prior to the scheduled hard fork. A widely supported hard fork Notably, Binance announced support for the upgrade on Dec. 5 and the day afterwards its U.S. subsidiary did the same. Coinbase also…