Crypto News Round-Up December 6
ADOPTION
Seven EU States Sign Declaration To Promote Blockchain Use
Seven southern EU countries have established a group called the “Mediterranean seven” for the promotion of Distributed Ledger Technology (DLT) in education, transport, mobility, shipping, land registry and healthcare.
REPORT
Pump and Dump Schemes Create $7M Volume a Day
At least someone is making money out of this bear market — it’s those scammers organising pump and dump schemes. They’re creating $7 million a day of worthless volume, according to researchers at the Massachusetts Institute of Technology (MIT). The researchers analysed coins like BVB which skyrocketed to a peak in 18 seconds of manic buying, and then fell below its opening price 3.5 minutes later. Don’t get suckered in — the people who provide the initiators of the schemes profits are the 95% of participants who buy at inflated prices and sell too late. Beware low volume, and low market cap cryptocurrencies, that see unexpected trades in an unexpected period.
NUCLEAR WINTER
VC Jim Breyer Still Bullish on Crypto
Early Facebook investor and venture capitalist Jim Breyer is still bullish on crypto despite the recent market meltdown. Speaking at the 2018 Global Tech Forum in Guangzhou, he said the tech is too big to be dismissed despite the fact we’re “close to a nuclear winter right now with cryptocurrency”. Breyer, who is in VeChain, Circle and Ethereum, noted the current market situation is not rare at all and has happened numerous times.
RIPPLE
R3 Adds Ripple As First Crypto For Its Payment
Distributed ledger technology provider R3 has announced that Ripple (XRP) will be the first cryptocurrency supported on its new universal payment settlement platform, Corda Settler. Richard Gendal Brown, CTO at R3 declared that “This is an important step in showing how the powerful ecosystems cultivated by two of the of the world’s most influential crypto and blockchain communities can work together.”
POSITIVE
Grayscale Owns 1% of All Bitcoin
Grayscale, an investment firm, has accumulated thousands of BTC for its in-house Bitcoin Investment Trust (GBTC). Their Bitcoin holdings increase from 30,600 BTC to 203,000 in total since the beginning of 2018, now accounting for more than 1% of the asset’s total circulating supply. Despite the under-performance of the current market, institutions are still positive about the future of crypto.
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Originally published at nauticus.exchange on December 6, 2018.
