Weekly Updates: Latest Crypto News (April 9 — April 15)
1) On April 12 BTC gains more than $1000 in just 35 minutes
On April 12 at 11:04 UTC bitcoin began to grow rapidly and in only 35 minutes gained from $ 1,000 to $ 1,300 on various platforms. The screenshot shows the historical situation on the Bittrex exchange. A similar growth was observed on all platforms. Analysts from around the world can not indicate the exact logical reason for such rapid growth in this period. Many news resources justified this situation by the fact that 22 countries of the European Union signed a partnership agreement on the blockchain-technology development. In fact, this news became public on April 10 and could not become a momentary trigger a day later, as markets always quickly react to such significant events. Someone connects the growth with the aggravated situation in Syria and the possible threat of a large-scale war, during which various risks for fiat money may arise. There is also a version that links the growth and recognition of BTC as money in accordance with Islamic norms. Rapid growth once again proves that everything can change very quickly in the markets. Perhaps it is a harbinger of a new global growth. Those who survived the fall of the first quarter of 2018 will be rewarded.
2) The Chinese fund with $ 1.6 billion cap enters the market
Xiong’An Global Blockchain Innovation Fund is formed with $ 1.2 billion from venture company Tunlan Investment, and $ 400 million coming from the government of Hangzhou. Information about the transaction was announced during the opening of a new blockchain park in Hangzhou. The city is known for investing in innovative projects. One of the most successful investments is an Alibaba. Blockchain Park will be a business incubator for projects that use blockchain technology. The fund already has a manager and advisors. The fund’s manager is the well-known Chinese crypto-investor Li Xiaolai. Among the advisors is Xu Xiaoping, who is the founder of the Zhenfund venture company. The deal is noteworthy not only because new millions of USD are coming into the market, but also because it is done within the framework of state partnership. If at the highest level China cannot yet figure out how to deal with cryptocurrencies, then at the city level we already see local initiatives to finance innovative industries. This once again shows that progress ultimately develops faster than everything and will defeat all the illogical regulations.
Source: https://www.coindesk.com/1-billion-blockchain-fund-launches-with-chinese-government-backing
3) The second largest exchange in Germany will launch an application for cryptocurrency trading
Sowa Labs, the structure of the Stuttgart Stock Exchange, plans to launch an application for the bitcoin, ethereum, ripple and litecoin trading. In the future, the list of available assets will be expanded. The application already has a name — BISON and has its own website with screenshots of the application. The prototype application was demonstrated during the financial exhibition in Stuttgart.
“Bison makes trading in digital currencies easy. It is the first crypto app in the world to have a traditional stock exchange behind it,” — Ulli Spankowski, Sowa Labs’ managing director, said in a statement.
And we once again observe how classical financiers penetrate into the crypto industry through special subsidiaries. Progress again outstrips regulators. Soon, we will see a whole line of similar initiatives from classical exchanges, which already have tremendous experience in traditional trading instruments. It only requires to transfer this experience and best trading practices to the cryptocurrency market and modify them a little. The arrival of new players will gradually stabilize the market, decrease volatility, capitalization will grow, and the rules of the game will become more understandable.
Source: https://www.coindesk.com/germanys-no-2-stock-exchange-unveils-crypto-trading-app/
News on cryptocurrency regulation
- European countries have concluded a partnership on the blockchain development
On April 10, 22 European countries signed a declaration on the establishment of a European blockchain partnership. The goal of the partnership is the cooperation between states to exchange experience and knowledge in the field of technical and regulatory issues in order to launch large-scale European detached projects in the interests of the public and private sectors. The partnership should ensure that Europe will play a leading role in the development and implementation of blockchain technology.
Mariya Gabriel, Commissioner for Digital Economy and Society, welcomed the signature of the declaration:
“In the future, all public services will use blockchain technology. Blockchain is a great opportunity for Europe and Member States to rethink their information systems, to promote user trust and the protection of personal data, to help create new business opportunities and to establish new areas of leadership, benefiting citizens, public services and companies. The Partnership launched today enables Member States to work together with the European Commission to turn the enormous potential of blockchain technology into better services for citizens”.
Such a large-scale partnership in the long term can significantly increase the practical application of developments in the field of blockchain technology. Cryptocurrency will begin to enter into the life of each of us, market capitalization will continue to grow.
Follow the link to see the full text of the declaration.
Source: https://ec.europa.eu/digital-single-market/en/news/european-countries-join-blockchain-partnership
2) Australia continues to license crypto exchanges
Australia has already issued three licenses for the cryptocurrency exchanges operation. In Australia, there is the structure of the Australian Transaction Reports and Analysis Center (AUSTRAC), which regulates the cryptocurrency industry. Australia has followed the path of Japan and South Korea and wants to restore order to the once spontaneously created crypto-exchange platforms.
“It’s recognised that this reform will help protect their business operations from money laundering and terrorism financing, while regulation will also help strengthen public and consumer confidence in the sector,” AUSTRAC CEO Nicole Rose commented.
This news is positive for the industry as a whole. The reform will gradually impose order on crypto-exchanges. The other side of the coin is the regulation of the industry. In the future, we see a synergy of centralized regulated platforms and decentralized exchanges. Centralized platforms can serve as oracles for decentralized protocols for the cryptocurrency assets exchange. It is impossible to completely regulate what is on the network. The regulation of stock exchanges and the development of legal norms will bring institutional investors who will inject new resources into the cryptocurrency sector. The ardent devotees of decentralization and program order will be able to continue using protocol solutions.
The TOP-10 cryptocurrencies this week
All the top cryptocurrencies show a significant growth. The leaders kept their previous positions. The leader of growth was IOTA. Litecoin was an “outsider of growth” with an indicator of + 11.13%.
The Teoz fund’s token increased from $ 1.55 to $ 1.87 (+ 20.65%).
Russian version: https://goo.gl/u3b5kE
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