The crypto market continues to trade horizontally, with Bitcoin below $6,400. However, Bitcoin managed to bounce back from $6,350 on multiple instances today. Ethereum, on the other hand, failed to hold on to its support at $210. Also, Bitcoin Cash, after crashing from its high of $635 last week, managed to find its support at $500 and is currently trading at $535.
In other news, Bitfinex has announced the launch of Chain Split Tokens (CSTs) for traders to trade the upcoming Bitcoin Cash fork. Both Bitcoin ABC and Bitcoin SV will be available on the exchange under “BAB” and “BSV” tickers, against BTC and USD. However, margin and leverage will be unavailable. Also, Nouriel Roubini, infamously known as Dr Doom tweeted that it was only a matter of time before the FBI ‘cracks down’ Monero (XMR), a privacy-focused cryptocurrency. A few days ago, he compared cryptocurrencies to North Korea, and Vitalik Buterin as its dictator.
1) Stellar Lumens (XLM) has overtaken EOS to become the 5th largest cryptocurrency by market cap. XLM posted impressive gains over the past two weeks as news of a $125 million airdrop by Blockchain was announced. To date, the altcoin has rallied 27%, and this helped XLM to bump EOS from the top-5. Blockchain planned the airdrop 1-year ago, and Blockchain CEO Peter Smith said that airdrops are “a great way for crypto creators to drive decentralization and adoption for new networks.” Meanwhile, EOS has been at the center of controversy as many holders believe the company operates more like a cloud computing service than a decentralized blockchain. (Read More)
2) With the Bitcoin Cash fork scheduled for November 15, a majority of the network appears to support the Bitcoin SV camp, led by Craig Wright. At least 63% of the hashrate is currently supporting Bitcoin SV, while only 18% support for Bitcoin ABC. CoinGeek, SVPool, BMG Pool, okminer and mempool have announced support for Bitcoin SV. However, on Poloniex’s futures market, BCHABC is trading at $415, and BCHSV is at $115. (Read More)
3) Marshall Islands President Hilda Heine narrowly survived a vote of no confidence over national digital currency plans. Hilda Heine is the only female head of state in the Pacific region, and a no-confidence vote was called after a group of senators challenged her and her plans to support the launch of a national digital currency. The new currency, known as the Sovereign, would be an acceptable form of payment alongside the U.S. dollar. The vote in the legislature split the governing body equally, with 16 votes cast for and against Heine’s removal. Since a majority failed to approve the vote of no-confidence, Heine retains her position. (Read More)
