Crypto Recap Feb 7: Lingering Optimism After Epic US Regulatory Hearing

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Top Crypto Headlines

* All headlines below are listed in chronological order and can be found in CoinLive News Terminal.

• HOT! Aliant Payment Systems to Add Litecoin Payment Functionality
• HOT! Key Highlights of the US Senate Hearing on Crypto Regulation
• HOT! Upbit Announces Bold Stance on USD Tether
• HOT! Bitcoin Trading Volume Reaches All Time High
• BIS Chief Wary of Cryptocurrency Threat to Conventional Banking
• Bitcoin Miners Facing a Tough Time as BTC Value Continues to Fall
• Stellar Stack Exchange Is Now Open to the Public
• Electroneum: First crypto to join the GSMA
• Sia Releases a Community Update About Its New-Look Platform
• Indian Govt. to Hand out Degrees Using the Blockchain
• Factom Announces Membership to the Chamber of Digital Commerce
• Power Ledger to Roll out “Hundreds” of Projects Following US Partnership
• Yet Another Game Enables WAX Transactions
• South Korea-based Exchange Coinpia Suspends Deposits and Transactions
• ECB’s Draghi: Cryptos Are Not Subject to a Specific Supervisory Approach
• Taiwan to Consider Regulations on Cryptocurrencies
• RippleNet Partners with LianLian International
• Goldman Sachs: Most Cryptos Never to See Their Recent Peaks Again
• EOS Becomes World’s Biggest Token Sale
• VeChain’s Introduces First Official Public Infrastructural DApp VeVID
• Winklevoss Twins See Positive Impact of Regulations on Cryptos
• Ripple’s Barlinghouse: Revolution of Blockchain to Come from Inside

Market Summary

It is not a frequent occurrence that one cannot find one single top 100 crypto asset in the red for the last 24h of trading activity. Such majestic performance across the crypto-board is a clear reflection of the unequivocally ebullient sentiment in the crypto market after a blockbuster epic endorsement by US regulators (SEC, CFTC) on the merits of blockchain technology. Since the hearing aired, it’s been a one-way street, with investors returning in mass.

How can we tell about the market’s buying commitment back in vogue? No just by the sea of green numbers, but tentative evidence exists checking Bitcoin’s Wed daily candle, which saw the highest volume on record in Coinbase. On the aftermath, Bitcoin has kept making headway, closing above the $8,000 mark, so is Ethereum, breaking through $800. Among the top performers on Wed, we saw Fun, Power Ledger, Syscoin, while Populous, Factom, EOS failed to attract the same amount of buying interest.

The industry as a whole continues to inspire optimism. In India, while the government believes that cryptocurrencies aren’t legal tender, it looks like they are going all in on Blockchain technology after announcing a national blockchain called “IndiaChain”, with its first implementation being the digital certification of education degrees. We also learned that Agility, one of the world’s leading providers of integrated logistics, has joined the project jointly led by IBM & Maersk that aims to create an efficient and secure system to manage and track container shipments utilizing blockchain technology.

We were also glad to report that according to UpBit, the SouthKorean Crypto Exchange announced that they will, no matter what, compensate the same amount of money to customers who have USDT on our exchange if in the future there is a problem. This kind of assurance would garner huge trust among its customers. Also a shout out to Yahoo Finance on hosting a very successful All Markets Summit: Crypto.

Gloomier industry news came through as well, including the repetitious talk of Bitcoin as a gateway to criminals. BIS chief expressed concerns over the threat Bitcoin and cryptocurrency in general poses to the ability of Central Banks in regulating such activities. Also, in South Korea, the cryptocurrency exchange Coinpia announced that it halted all deposits and market transactions after failing to comply with the KYC requirements that were put into action on January 30. Mario Draghi, President of the ECB, said they were not observing a systemically relevant holding of digital currencies by banks and added that EU credit institutions were showing a limited appetite for digital currencies like Bitcoin, despite the high level of public interest.

Scanning through the main headlines of various crypto assets, this is what we uncovered on Wednesday. Aliant Payment Systems confirmed the addition of Litecoin payments functionality after a period of testing. Stellar Stack Exchange, which had been in beta version, finally became open to the public. British Blockchain startup Electroneum announced it became the first cryptocurrency to join the GSMA, a trade body that represents the interests of mobile network operators worldwide. Dash keeps gaining momentum in Venezuela with thousands of conference attendees and dozens of new merchants. PIVX announced that the zPoS development is on its way after successfully validate Proof fo Stake blocks via zerocoin.

In the Bitcoin Cash front, it looks like it will now be possible for someone to send and receive the asset on-chain via Cointext SMS app. Factom announced that they are joining the Chamber of Digital Commerce. Australia based Power Ledger announced a partnership with American not-for-profit energy company Helpanswers, which will allow peer-to-peer energy trading platform to hundreds of sites across North America. OPSkins Marketplace announced that they had added a new game to their space: Battalion 1944; because of this, Gamers now have another game wherein they can trade virtual items using WAX tokens. The CEO of Ripple announced via Twitter that RippleNet is going to partner up with LianLian International. Some tentative evidence on EOS new plans, after the EOS Community Forum tweeted out that Brendan Blumer, Block.One CEO, talked about a social media network that will be integrated into EOS itself. Aion Network started giving beta test-net binary access to people who have signed up for it. Not so good news for Monero, as its mining malware keeps getting worse. According to Coindoo, “thousands of Android and smart TVs were attacked by a Monero mining malware.”

Main Gainers / Losers Top 100 Coins

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