A few hours ago, the daytraders saw the decline again on the bitcoin chart. If somebody was hoping that the last week of peace would be the entrance to the oyster and then the bull market, they may feel uneasy today. But what else happened in the world of cryptocurrencies?
EOS a leader?
The new cryptocurrency ranking was published in the Chinese media on January 24. It is part of the monthly cycle prepared by the Center for Information and Development of Industry (CCID) and financed by the Chinese government. The results of evaluations of individual cryptocurrencies may arouse controversy. The first place was taken by EOS – a project that stirs mixed feelings. Ethereum was in the second place. Bitcoin is far beyond the podium – only in the 15th place, and Ripple (XRP) in the 20th position in the ranking.
In the analysis of tokens, cryptocurrencies and entire projects, three factors have been taken into account: technology, its practical application and creativity.
CBOE withdrew its ETF application
According to a letter published by the Securities and Exchange Commission (SEC), CBOE withdrew its request to create an ETF based on bitcoin. It is not yet known whether CBOE will apply again. It could make a tactical decision. Decide to withdraw the application, knowing that it will be rejected anyway, but plans to resubmit it before the SEC. According to market observers, however, this is proof that the ETF will not be created this year.
JP Morgan proposes declines
Bitcoin is the cryptocurrency of the dystopian world? This is what JP Morgan employees think:
“Even in extreme scenarios, such as recession or financial crises, there are more liquid and less complex instruments for transactions, investing and securing [than crypts].”
Bank analysts have also noticed that institutional investors limit their interest in digital currencies. Thus, the market may wait a longer bear market than we originally expected. Bitcoin rates can fall to around $ 2,400 or less – up to $ 1,260. Of course, this is only the opinion of JP Morgan employees …
MIT with its own cryptocurrency
Employees of the Massachusetts Institute of Technology (MIT) have developed a Vault cryptocurrency that requires fewer users to join the network and verify transactions.
– Vault is a cryptocurrency that allows users to join the network by downloading only a fraction of all transactional information. It also includes a system for removing empty accounts that take up unnecessary space and allows you to verify transactions using only the latest data that is shared and shared on the network. In this way, we minimized the size of required [stored and processed] data for individual users – the authors wrote in the report.
What do you think about this project?