Fidelity Reveals Crypto Strategy, Plus Bitcoin, Ethereum, Ripple and XRP, EOS, Stellar, IOTA, Cardano: Crypto News Alert
From new details on Fidelity’s crypto ambitions to Bitcoin’s surprising lack of volatility, here’s a look at some of the stories breaking in the world of blockchain.
The president of digital asset services at Fidelity says the financial giant won’t be opening up a crypto exchange for retail customers anytime soon.
On the latest edition of the Unconfirmed podcast, Tom Jessop said he believes leading crypto exchanges like Coinbase and Binance are doing a decent job, and right now Fidelity is focused on providing crypto custody solutions for institutional investors.
You can check out the full podcast on Fidelity’s future plans below.
According to Bloomberg, Bitcoin’s recent stability may be a sign that the leading cryptocurrency is finding a bottom.
“The low volatility is ‘a sign of speculation leaving the market and eventually a bottoming process,’ said Bloomberg Intelligence analyst Mike McGlone. ‘High volatility is a major factor lessening most cryptocurrency use cases for anything other than speculation.’
Charlie Morris, multi-asset head at Atlantic House Fund Management in London, echoed that sentiment. ‘It simply means the market is calm and in balance. That implies that speculative interest is low,’ he said in an email. ‘Given this bear market is now 10 months old and is getting tired, I’d be inclined to be bullish for the next major move.'”
EOS and Ethereum
“We believe that any token should be able to move as the developers desire or require as their apps may be best run on different chains at different times.
Typically, the way this has been done is by using what we call the ‘snapshot’ method. 📸 This method is commonly used by token ‘airdrops’ to send to accounts on ETH or EOS chains that match certain criteria such as having an address with at least X balance of the chain’s native token. The EOS native token generation from the ERC20 was a snapshot airdrop. EOS was able to do this by expiring their ERC20 contract thereby making the ERC20 EOS tokens non-fungible.
In the EOS21 protocol, we are providing another option for ERC20 contracts that do not have a built-in pause/expiry function but who want to move their token to another chain. We are calling this action: teleportation. To teleport a token from one chain to another, it will exist on the destination chain, but no longer exist in a fungible form on the source chain.”
Ripple and XRP
The crew at the crypto exchange eToro says XRP is coming to its crypto wallet that was just released in Switzerland, the Netherlands and Austria. Right now, Bitcoin, Ethereum, Litecoin and Bitcoin Cash are supported.
Soon we will support XRP as well
— Yoni Assia (@yoniassia) October 27, 2018
Meanwhile, Ripple continues to expand and hire new employees by the dozen. The latest opening is for a manager of data infrastructure.
You can check out Ripple’s full list of job openings here.
— Jim Chauncey-Kelly (@JChaunceyKelly) October 28, 2018
Monero, Cardano, Stellar, XRP, Tezos, Decred, Groestlcoin, Zencash
Hardware wallet manufacturer Trezor says it will support a long list of cryptocurrencies starting today.
According to its roadmap, the company’s Model T wallet is adding Monero, Cardano, Stellar, XRP, Tezos Decred, Groestlcoin, and Zencash.
TWO IoT, a waste management startup, says it has successfully integrated IOTA’s tangle technology.
The company aims to leverage IOTA’s distributed ledger to lower the cost and improve the efficiency of waste collection.