From crypto whales moving millions in XRP to a new Bitcoin ETF proposal, here’s a look at some of the stories breaking in the world of crypto.
Ripple and XRP
Three crypto whales just moved 61,346,295 XRP worth more than $20 million. The total fees for all three transactions combined cost less than a penny.
The biggest transaction moved $14 million in XRP from an unknown wallet to the US crypto exchange Bittrex, which indicates a trader may be looking to sell. The other two whales moved XRP from Bittrex to the Korean exchange UpBit.
Meanwhile, Ripple has released a look at how financial institutions can use blockchain technology and cryptocurrency to drive innovation in 2019. The article looks back at predictions made at Ripple’s Swell conference in October, and highlights the importance of fintech in places like Africa and Europe, along with the role and impact regulators can have on the space.
Bitcoin
A New York-based investment firm has submitted a new Bitcoin ETF proposal to the US Securities and Exchange Commission.
Wilshire Phoenix says its proposal would create a “less volatile” way for investors to gain exposure to Bitcoin, by creating a trust that holds Bitcoin, US dollars and short-term US Treasury bills.
“While the Shares are not intended to, nor is their purpose to, replicate a direct investment in bitcoin, they seek to provide investors with exposure to bitcoin with substantially lower volatility than a direct investment in bitcoin and without the uncertain and often complex requirements relating to acquiring and/or holding bitcoin.”
Ethereum
The Ethereum-based development studio ConsenSys has invested in two new crypto startups.
ConsensSys Ventures is investing $1 million in Coinhouse, a crypto trading platform located in Paris, according to CoinDesk. It’s also investing an undisclosed amount in Tenta, which has launched a private and encrypted internet browser on Android.
Stellar
The leading crypto investment firm Grayscale just launched a new fund dedicated to Stellar Lumens (XLM).
Stellar joins eight other single-asset products, including Bitcoin, XRP, Ethereum, Bitcoin Cash, Ethereum Classic, Horizen, Litecoin, and Zcash.
Litecoin
The crypto payment processing company CoinGate says it’s adding support for Litecoin’s Lightning Network (LN). A test run is now underway.
“Litecoin Lightning Network is arguably the most anticipated feature for the Litecoin community to date. And finally, it all comes to fruition as we launch the first Litening Network (LN) pilot run with our own merchants!”
Tron
BitTorrent, the file-sharing platform acquired by Tron last year, says it will incorporate its new Tron-Based BTT Token by July.
According to Tron founder Justin Sun, the token will be utilized in a new system called BitTorrent Speed, and users who share files on the network will be rewarded in BTT.
“With BitTorrent Speed, we aim to strengthen the BitTorrent protocol and then deliver more features that inspire innovation across industries. More than 100 million users soon will have the opportunity to be part of a boundary-free internet that supports personal privacy and connection around the world.”