From crypto market analysis to a billion-dollar customer at Ripple, here’s a look at some of the stories breaking in the world of blockchain.
Crypto Rally
Bloomberg is seeing positive signs for a year-end Bitcoin and crypto bull run.
“A technical indicator for an index tracking some of the largest digital currencies suggests the crypto industry could be poised to break out of its recent malaise and rally at year end.
The MACD, or moving average convergence divergence, gauge for the Bloomberg Galaxy Crypto Index entered its first positive divergence in a month. The move corresponds with an upward trend in Bitcoin, which makes up around 30 percent of the fund.”
According to the report, Senior eToro market analyst Mati Greenspan agrees with the analysis.
“The technicals look great and the fundamentals are fantastic. All signs are pointing to a Santa Claus rally in the crypto market.”
Bloomberg Intelligence analyst Mike McGlone has not been on the same page. Late last month, he told CNBC’s Crypto Trader that he believes indicators show the market remains bearish.
EOS and Ethereum
The decentralized crypto platform BancorX now supports Ethereum (ETH) and EOS.
The protocol allows users to convert ETH to EOS and vice versa without having to use a crypto exchange.
Monero, Cardano, Stellar, XRP, Tezos, Decred, Groestlcoin, Lisk, Zencash and Zcash
The hardware wallet Trezor just added a huge list of nine cryptocurrencies to the Trezor Model T, thanks to a new firmware update.
You can check out the details here.
Ripple
SEB, a Swedish financial group and longtime Ripple partner, says it is now moving billions of dollars using Ripple’s xCurrent payment platform.
The firm’s head of transaction services Paula da Silva says,
“Last year, there was only one customer on it then. Now we have all customers of SEB doing inter-company transfers between Sweden and the US on the Ripple platform. So we have a couple billion going through that. We are trying to understand how that goes and what we would need to make it happen even better.”
IOTA
The decentralized car data platform carVertical just released a video showing its latest strategies for implementing the IOTA tangle.
“An OBD [on-board diagnostics] device tracks your car and processes data to the IOTA Tangle. When your vehicle is riding, it’s being constantly checked via GPS. Coordinates, engine status and battery level is stored as an IOTA transaction.
If the vehicle stops in the paid parking zone, carVertical.CITY automatically records parking start time and price in the zone. When you drive away, an app autonomously makes a new IOTA transaction pointing that your parking is finished and defining the services cost.”