Bitcoin SV [BSV] Price Analysis: Coin finds stability as possible bull run approaches

Bitcoin SV [BSV] struggled to keep its head above the $1 billion mark in terms of market cap, despite the overwhelmingly bullish run the markets enjoyed over the past few days.
At press time, the 12th largest cryptocurrency in the market recorded a market capitalization of $1.51 billion while the price of the coin stood at $65.31 with a 2.75 percent decline against the US dollar.
1-hour
Source: TradingView
Bitcoin SV suffered a significant uptrend earlier this week when the price rose from $63.91 to $71.30. This was followed by a downtrend which saw the price drop from $67.266 to $65.45.
The Bollinger Bands are diverging, suggesting price volatility for the coming week. The Moving Average line indicates a mildly bearish trend, with an expected switch in behavior.
The Fisher Transform indicator points to a convergence between the Fisher and Trigger line in the immediate future while a prominent bearish trend looks set to continue.
The Chaikin Money Flow tool shows that cash in-flow is still very unlikely as the CMF line is below 0.
1-Day
Source: TradingView
The one-day chart for Bitcoin SV indicates a downtrend since the coin hardforked in November 2018. The downtrend extends from $181.98 to $75.013. However, a bullish trend seems to have resurfaced since the week began.
The Parabolic SAR indicates a bearish market throughout the week as the dotted markers are below the candlesticks.
The MACD lines suggest a bull run as well as the blue line is trailing above the orange line.
The Relative Strength Indicator shows that investors are slowly coming into the Bitcoin SV market.
Conclusion
Bitcoin SV has been resilient in maintaining its market capitalization above the $1 billion mark, even when the market was overwhelmingly bearish. However, recent rallies in the cryptocurrency market and the long-term indicators suggest that a bull run may be in the offing.
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Source: AMB Crypto

XRP/Ripple: R3’s Corda Settler dApp to be tested by InstiMatch Global using XRP

The development and extensive adoption of cryptocurrencies across various institutions is a continuous operation. Ripple’s XRP, which is currently the third largest cryptocurrency in the market is constantly cultivating different partnerships and pushing the virtual asset forward for major trade applications.
InstiMatch Global is a networking firm which is trying to digitize the institutional system of allowing borrowers and lenders to establish trade through their own digital network. The company has now established a partnership with the R3 consortium which includes the testing of the Corda Settler platform for high-speed payments.
InstiMatch will test the Corda Settler platform and its ability to conduct large transactions in XRP as part of a pilot project. The testing for the platform is supposed to settle high volume transactions of over $1 billion with XRP in a tie-up with around 50 banks.
R3, a company based on distributed ledger technology for blockchain solutions has an extended platform product which is Corda. The Corda Settler platform is an open-source decentralized application on the R3 network and it was designed to enable large corporations and companies to move virtual currencies and assist in trade settlements and payments.
R3’s official website states that,
“Our money market offering in R3 Corda is a highly secure, GDPR compliant DApp allowing Banks, Family offices, Corporations, Utilities etc. to exchange liquidity amongst each other. This DApp offers the modern alternative to voice broking and replaces our present, centralized database version.”
InstiMatch has been able to tackle the latest settlement API and it has added the option of high-speed payments, which is crucial for the dedicated and quick execution of intra-day trades, via the Corda Settler dApp.
InstiMatch is hoping to have more than 100 counterparties from various sectors of trading and reach a broader region of involvement in the next 12 months.
This is not the first time Ripple’s XRP and R3’s Corda are headlining together. Previously, a major partnership had developed between both the companies and SBI Holdings, which acted as a medium of comprehension.
The President and Representative Director of SBI Holdings, Yoshitaka Kitao recently pointed out that XRP will become a global currency in the near future. He also mentioned,
“You can use R3’s ‘Corda’ for international remittance, but Corda Settler and XRP use this because they have high affinity. That’s why the SWIFT partnership with R3 (Corda) is good news that brings bright materials to the market… What I emphasize is to combine R3 and Ripple to make XRP thoroughly practical useable.”
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Source: AMB Crypto

Ethereum [ETH] breaches $5.56 billion mark in daily trading volume; highest recorded in over a year

Ethereum, the 2nd largest virtual currency in the market in terms of market cap has been on the wrong side of the bearish trend recently. Unlike some of the top cryptocurrencies, Ethereum has had a few setbacks recently with the mining rewards reaching an all time low due to increased average difficulty and a major drop in block transactions (94%) since last year.
However, according to recent reports by CoinmarketCap, Ethereum has now witnessed the highest day volume in over year.
Day trading volume | Source: CoinMarketCap
According to the data, the amount of ether tokens that was traded over the last 24 hours has eclipsed the level that was reached last year in February. The trading volume heights of last February hadn’t been met since, until today.
CoinMarketCap put Ethereum’s daily trading volume at a yearly high of $5.4 billion. At press time, the value of one ether was placed at $148.81 whereas just a month back, the virtual currency was valued at around $122 and the trading volume was in the range of $2.3 billion. Ethereum also accounted for about 15% of the total market’s value over the past day.
This suggests a high, progressive rate of trading volume going forward for Ethereum as their price valuation has significantly increased since the beginning of 2019.
The Ethereum network also has their highly anticipated and much-delayed Constantinople hark fork around the corner. The block that was initially put forward for the hard fork was #7080000, but that was shutdown on the eve of the scheduled day.
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Source: AMB Crypto

Ripple/XRP could be integrated into our global payments system, says Remitly CEO

The cryptocurrency ecosystem is a sphere of high volatility and experimentation, due to which the involvement of major financial institutions and cooperations do not take place as smoothly. The adoption of virtual assets has been slowly progressing and Ripple’s XRP has been arguably leading the cryptocurrency universe and making a strong case for implementation in banks and other financial sectors for cross-border transactions and settlements.
According to a recent report, Remitly, an international payments company, is interested in Ripple’s XRP and is planning to integrate the cryptocurrency’s blockchain technology into their financial transaction services.
In a recent media conference, Matthew Oppenheimer, CEO, and co-founder of Remitly, said that they are looking into the blockchain technology for improving global transactions via a peer-to-peer system, and indicated that a partnership with Ripple to enable smoother transactions could be a reality soon.
He stated:
“When I thought a lot about Bitcoin, especially as I was building the business, I was like, I always come back to the customers and say, what is the customer value. The customers could be someone like us, like Ripple could be an example, we could integrate with Ripple, that’s the one that we pay a lot of attention to, or the customer could be an end consumer.”
Remitly, which is a fairly new international transaction payments company, was founded in 2011. The organization has been transferring nearly $6 billion a year, which currently makes them the largest independent international money transmitter in the USA.
The company has raised an impressive $200 million in equity and has also been able to generate over $175 million in funds from various industrial leaders such as Stripes Group, Naspers’s PayU, the International Finance Corporation, DFJ, DN Capital, Bezos Expeditions, Founders’ Co-op, QED Investors, and Trilogy Partnership.
Oppenheimer further mentioned:
“I can see how can financial services institutions like us, integrate with blockchain technologies to drive down our costs and therefore make it less expensive for customers, or faster to your ACH point.”
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Source: AMB Crypto

Ethereum [ETH] experiences major drop of 94% in block transactions since last year

The cryptocurrency market has been facing a brutal bearish trend since the turn of the year, with a marginal bullish pump last week on 8 February. Most of the top ten virtual assets have been experiencing major market turmoil but, currencies like Bitcoin and Litecoin have been able to encourage users with the integration of Lightning Network and the support of a string of high-profile personalities, keeping the virtual currencies relevant in course of worldwide adoption.
Ethereum [ETH], which is currently the second-largest cryptocurrency according to Coinmarketcap, with a market capitalization of $12.8 billion dollars, has not been on the right side of this optimism however.
Transaction per block per day | Source: Etherscan.io
According to data charts on Etherscan.io, it can be clearly observed that the transaction per block has significantly decreased since the start of the year. The number of transactions recorded on 4 January, 2018 was the highest this year with a total of 1349890 units, with the average difficulty ranging around 1,895.45 TH.
It went through a sharp decline on the chart however as, the transaction on 15 February, 2019, was recorded at 468599 units, with an increased average difficulty of 2,758.
According to reports, the ETH blockchain has actually dropped a significant 94% in block transaction since last year. To get a clearer picture, the blockchain volume has been compared to the exchange data volume.
The chart below compares the volume of transactions on the Ethereum chain to Ether’s exchange volume over the past year.
Blockchain trade volume vs ETH exchange volume comparison | Source: Coinmetrics and CoinMarketCap
We found that before March 2018, trade volume on the ETH blockchain was much larger than the trade volume on exchanges. This indicates that ETH activity was not limited to the act of buying and selling ETH, but also included games and ICOs. Later, as DApp and ICO projects continued to shrink, the volume of transactions on the ETH chain gradually declined.
However on 30 November 2018, a sudden spike in the blockchain trading volume was witnessed, but the spike was not related to DApps or ICOs.
It is evident that the ETH bear market is continuing as the ETH blockchain volume hit a new low point with an average of about $157 million USD per day, which marks a drop of about 96% compared to last year [Feb 15 to Feb 21] when the average daily blockchain volume reached around $4.3 billion.
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Source: AMB Crypto

SEC could include Bitwise’s Bitcoin ETF in federal registers; proposal under review for approval

Since the turn of 2019, the SEC has been prominently involved in the sphere of cryptocurrencies with certain institutions reaching out for Bitcoin ETF approvals. To add to this, the recent remarks made by former SEC Commissioner Robert Jackson Jr, that it was only a matter of time before a Bitcoin ETF gets approval, has stirred a lot of attention towards the independent US government federal agency.
According to reports, the US Securities and Exchange Commission [SEC] have initiated the process of considering a rule change for listing the Bitcoin ETF proposal submitted by Bitwise Asset Management and NYSE Arca on February 11.
The proposal itself was published in the Federal Register on 15 February, which leaves the authorized personnel with 45 days to make the initial decision to approve, reject or further extend the proposal, even though the SEC will, in total, have a duration of 240 days to make the final decision on whether to approve or disapprove the proposal.
The Bitcoin ETF application was first put forward by Bitwise Asset Management in January 2019, but it could not get published in the Federal Register due to the US government shutdown. However, there has been a new turn of events now, as the proposal is now under review by the SEC.
According to the initial registration statement, the ETF would track the Bitwise Bitcoin Total Return Index, which takes the value of Bitcoin and any meaningful hard forks into account.
Moreover, what’s unique about Bitwise’s Bitcoin ETF is that the company wants its fund to be supported with spot prices from exchanges and physically settled futures contracts. This is different from any other BTC ETF that was proposed before, as previous ETFs were supported with cash-settled contracts.
According to the initial formal statement, the Bitwise ETF would track the Bitcoin Total Return Index, which will take the value of Bitcoin, and further significant hard forks into consideration.
Moreover, the company’s BTC ETF would want their fund to be supported with spot prices from exchanges and physically settle future contracts. This sets the company’s ETF apart from the earlier BTC ETFs that were put forward and supported with cash-settled contracts.
Bitwise’s global head of Exchange-Traded Funds, John Hyland, painted an optimistic image and seemed hopeful that the SEC will approve their Bitcoin ETF.
He stated,
“While there can be no assurance that the 19b-4 application will be granted or the SEC will review and ultimately accelerate the registration statement, we are optimistic that 2019 should be the year that a bitcoin ETF launches.”
The SEC has in the past turned down its approval for several Bitcoin ETF proposals. However, since SEC Commissioner Robert Jackson Jr’s statement, Hester Peirce, another commissioner at the SEC has come forward and offered optimism about the eventual approval of a Bitcoin ETF.
The news around Bitcoin ETFs have invited a lot of attention from crypto enthusiasts around the world who hope that a successful ETF will lead to an event which will help take the virtual currency out from the current bearish trend.
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Source: AMB Crypto

JPM Coin: Ripple CEO Brad Garlinghouse disagrees with use-case of cryptocurrency; says project ‘misses the point’

JP Morgan Chase, the biggest bank in the United States of America, valued at about $340 billion dollars, has announced that it was going to launch its very own stable coin cryptocurrency named JPM, which will be implemented to instantly settle payments between clients. However, competitor Ripple and its CEO had differing opinions to offer on this development.
The investment bank moves more than $6 trillion around the world for massive cooperation payments and settlements business. According to the institution, which is a banking partner to about 80% of the Fortune 500 Companies, only a tiny fraction of payments will initially be transmitted using the cryptocurrency. Even so, the trial represents the first real-world use of a digital coin by a major US bank.
The CEO of Ripple, Brad Garlinghouse, responded to the announcement on Twitter, saying that JP Morgan is missing the point with its new cryptocurrency.
He tweeted:
Source: Twitter
In 2016, when the Utility Settlement Coin was announced, Ripple CEO Brad Garlinghouse had predicted that he believed bank-backed cryptocurrencies would fail, in an Op-ed titled  “The Case Against BankCoin”.
He wrote that:
“A bank-issued digital asset can only really efficiently settle between the banks who issued it. Then, two scenarios can play out. Scenario one: all banks around the world put aside competitive and geopolitical differences, adopt the same digital asset, agree on its rules, and harmoniously govern its usage. Fat chance. Scenario two (the more likely scenario): banks not in the issuing group issue their own digital assets with their own sets of rules and governance.”
He further added:
“The second big problem with the ‘utility settlement coin’ is it seems it’ll be backed by a basket of currencies. Once backed by cash, it’s no longer an asset; it’s a liability. Trading liabilities then ultimately requires moving cash across borders, re-creating today’s system but adding more friction!”
Garlinghouse further put forward the case of XRP being the premiere option for banks to bring independent digital assets into the picture. According to him, XRP is the best shot at truly bringing payment systems into the modern era.
However, Joe Weisenthal, co-host of Bloomberg’s “What’d You Miss?” segment, has said that he fails to see Ripple’s XRP compete with the forthcoming JPM coin. He stated:
“If it turns out that the Blockchain/Coin framework to be a good one for banks transferring money around, then the JPM Coin should absolutely obliterate Ripple. Think about it, let’s say you were in the business of transferring money, why would you take on the exchange rate volatility risk associated with having Ripple as a bridge currency, when you could have a fiat-coin backed by JP Morgan. No brainer.”
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Source: AMB Crypto

Bitcoin [BTC] among cryptocurrencies enabled by new debit card launched by Australian Crypto exchange

The wider adoption of cryptocurrency has taken another major step forward after it was recently announced that parts of Australia will start the process of accepting cryptocurrencies like Bitcoin, XRP, Ethereum, and Litecoin from customers to buy groceries in supermarkets and retail shops.
myCryptoWallet, one of Australia’s leading exchanges, has launched the myCryptoCard which enables consumers to spend cryptocurrency at one million locations and withdraw money at 30,000 ATMs.
The exchange is a digital currency service based in Melbourne, Australia and it provides a number of services to customers which includes fiat deposit, wallet withdrawal services, cryptocurrency debit cards, an online live peer-to-peer digital marketplace and a fast-paced exchange between Australia and New Zealand via digital assets.
The CEO of MyCryptoWallet, Jaryd Koenigsmann, stated after the announcement:
“MyCryptoCard will play a major role in bridging the gap between cryptocurrency and the mainstream. The cards means consumers have the flexibility to use crypto where, how and when they like, and do away with so many of the fees that come about when exchanging back and forth between crypto and fiat.”
MyCryptoCards will be linked to the user’s digital wallet on the exchange which will have the capacity to hold Bitcoin, Ethereum, Ripple, Litecoin and Power Ledger virtual currencies. The initial point of sale purchases in Australian dollars will be automatically converted with regards to the crypto prices at the moment of trade.
According to Koenigsmann, since MyCryptoCard is not just limited to Bitcoin, it will bring higher levels of spending flexibility and allow consumers to trade with their favored cryptocurrency. The card also plans to add 50 news coins to its platform in the near-term and introduce a dozen new digital currencies which will soon hit the mainstream wallet.
There will be no fees associated with spending or withdrawing from MyCryptoCard and the absence of these fees puts the common fees associated with the conversion of fiat to cryptocurrency to bed.
Finally, the CEO has also announced a giveaway of the first 3000 debit cards for free to celebrate the launch of MyCryptoCard.
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Source: AMB Crypto

Bitcoin [BTC]: Daily average block size hits an all-time high of 1.3 MB

Bitcoin, the largest cryptocurrency according to market capitalization, has often been under a lot of criticism for its limited block sizes on their blockchain. The disagreement even led to a hard fork within the cryptocurrency, which subsequently led to the birth of two new crypto assets, Bitcoin Cash and Bitcoin SV.
However, according to recent data from blockchain.com, Bitcoin’s daily average block size has reached 1.3 MB, an all-time high.
The blocks of a blockchain act as a digital record book where all the transactions are stored. The independent units are organized into a linear sequence over time as new transactions are constantly being processed and added by miners and the length of the blockchain increases. The higher the number of blocks gets buried in the blockchain, the more difficult it is to remove and make changes in the blockchain, contributing to the irreversibility of Bitcoin’s blockchain.
Average Block size graph | Source: Twitter
According to the chart, the rate of the average block size has been gradually increasing since the turn of the year, after dipping to around 0.80 MB in December 2018.
The blocks mined at press time, which is approximately every 10 minutes, is marginally larger than the previous limit of 1MB which was put in place by the Bitcoin network. The improved block size can be attributed to the introduction of Segregated Witness [SegWit] in August 2017.
Since the introduction of SegWit, the concept of ‘block size’ has been slightly updated to ‘block weight,’ allowing block capacity to be raised up to 4 MB in capacity.  In the current Bitcoin network, around 40 percent of all Bitcoin transactions are using the concept of Segwit.
The implementation of SegWit has also opened the possibility for off-chain scaling of which the Lightning Network is the prime example. The Bitcoin Lightning Network is currently growing at a rapid pace due to the involvement and support of crypto users and high-profile personalities.
Moreover, according to blockchain.com, the implementation of SegWit might have also affected transaction fees and transaction rates on the Bitcoin network as they have approached their all-time low and all-time high respectively.
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Source: AMB Crypto

$2.47 million in cryptocurrency stolen from Turkish firm by hackers communicating through PUBG

Cryptocurrency networks are often exposed to the threat of thefts that loom over the network’s security. It is for this reason that such networks and firms spend a significant amount of capital to fix the critical vulnerabilities and improve the protection quotient.
A Turkish firm failed this test after a group of cyber criminals pulled off an online heist on a domestic cryptocurrency company. The group of alleged hackers has been detained by the local authorities and according to reports, the hackers used the highly popular game PUBG as a medium of communication prior to the cryptocurrency theft.
The Turkish company which has fallen to the vicious attack of the virtual hackers is an Istanbul-based cryptocurrency firm. According to the Daily Sabah, a local news publication, the identity of the firm has not been disclosed, however, it has been suggested that the firm provides digital currency trading platforms.
A reported $2.47 million was stolen in the hack. The police authorities have suspended 24 members involved in the felony, following a nationwide investigation across eight of Turkey’s provinces. However, police raids could only recover $256,000 of the stolen $2.47 million.
The authorities had been informed about the hack by the cooperation itself. In its primary report, it stated that a large amount of Bitcoin, Ethereum, and XRP had been stolen. However, the Istanbul Cybercrime Branch Officer later clarified that not one, but two firms’ cryptocurrencies were compromised, amounting to a total of 13 million lira. The funds were transferred from the company wallets to the digital wallets controlled by the hackers.
The official police report has also confirmed that the felons had been communicating with each other using the popular battle royale video game called Player Unknown’s Battlegrounds, or popularly known as PUBG.
The incident, which highlights yet another case of a firm’s compromised security, has raised a lot of questions and reactions. A Redditor, bitcoin_master, commented:

“It is safest for one to protect their Bitcoin and other digital assets by taking responsibility for securing their own financial capital and keep a check of their own private key.”

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Source: AMB Crypto

Bitcoin [BTC]: Lightning Torch gains momentum as Binance’s CZ and Erik Voorhees participate

The cryptocurrency ecosystem has recently been very active in the development and growth of Bitcoin’s Lightning Network. The introduction of Lightning Network has been getting more and more attention due to ever-increasing support for an improved rate of adoption.
Changpeng Zhao, CEO of Binance exchange recently tweeted through his support for the implementation of Lighting Network through his Twitter.
He tweeted:

The wider adoption of Bitcoin’s Lightning Network has been assisted by the ‘Lightning Torch,’ a social experiment that has generated a lot of attention for the network.
According to the LN developers, Bitcoin’s Lightning Network offers significant improvements over major issues that plague common payment systems. The LN is supposed to enable users to transfer capital across the globe without the involvement of a third party, unlike MasterCard or PayPal.
With the help of the social platform Twitter, the experiment has caught enough momentum and people are passing the “torch payment” from one person to another after adding 10,000 satoshis [valued at $0.357 at press time] to the payment, before passing it further forward.
The experiment has got a lot of high-profile personalities to participate in the BLT [Bitcoin Lightning Network] experiment, including the CEO of Twitter, Jack Dorsey who openly participated and by extension, promoted the Bitcoin LN. Jack Dorsey had recently dubbed Bitcoin as the future “native currency” of the internet.
Regarding the experiment he had stated,
Source: Twitter
The Lightning Torch was recently passed on to Changpeng Zhao and the founder of Binance exchange was also happy to engage in the experiment and demonstrate his support for the cause.
Zhao has passed on the lighting torch to the Tron Foundation’s CEO Justin Sun who was delighted to be part of the experiment as well.
He tweeted that,
Source: Twitter
Justin Sun’s shout out and endeavour to pass on the Lightning Torch failed however as Tesla CEO Elon Musk and NBA player Kobe Bryant failed to respond and participate.
The Lightning Torch is now in the possession of Shapeshift exchange’s CEO, Eric Voorhees who recently tweeted on the subject.
He tweeted,
Source: Twitter
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Source: AMB Crypto

Bitcoin [BTC] Core developer proposes reduction of Bitcoin chain’s block size to 300KB

Bitcoin, the largest cryptocurrency in the crypto universe, has facilitated yet another development making use of the Lightning Network as Luke Dash Jr, a Bitcoin Core Developer, has put forward the idea of shrinkage of the Bitcoin’s chain block size down to 300kb.
The concept to reduce the size of BTC’s block chain was introduced by Luke Dash in January 2017. The support for the reduced size block has received more of a consensus than the first time to further accelerate the adoption of Lightning Network.
In January 2017, Dash Jr proposed a Bitcoin Improvement Proposal or termed as a ‘BIP’ which had the following request to reduce the block size to 300kb. The proposal was submitted before the transaction fee had a spike of about $30-$50 per trade.
However, the BIP was quickly dismissed following the scalability debate of the protocol and Bitcoin users were also upset with the rise of the transaction fee.
Luke Dash recently tweeted:
Source: Twitter
The proposal has garnered a lot of attention and Bitrefill’s CCO, John Carvalho, has expressed his support for Dash’s idea.
John Carvalho stated:
“I agree with Luke Dash Jr that the block size should be smaller. I feel more confident to say it now that we have Lightning Network making strides — I’ll run the soft fork,” I could imagine a few, to increase fees (doesn’t even have to be malicious, could be for survival). To move transactions to Lightning Network (maybe miners realize they can make easier money by increasing fees on L2, under the right conditions) and to reduce costs (new network/web conditions).”
A Twitter account named Mark Lamb responded to John Carvalho:
Source: Twitter
However, the reduced blocksize concept has received its fair share of criticism regarding Dash Jr’s idea and John Carvalho’s explanation about higher fees to push more Lightning Network implementation.
One observer on Twitter posted his opinion and commented,
“Smaller blocks simply means less transactions on the chain, purposefully hard-coding a lower limit — It doesn’t make any logical sense.”
Cobra Bitcoin, who is the anonymous owner of Bitcoin.org, also pushed forward with the criticism rally and responded with a tweet. Cobra responded to John Carvalho’s tweet and stated:
Source: Twitter
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Source: AMB Crypto

Bitcoin [BTC]: US Pension Funds To Support $40M Bitcoin Venture Fund, says Morgan Creek Digital CEO

The idea of cryptocurrency’s union with major financial institutions took another major step forward with the announcement that Morgan Creek Digital has initiated the launch of a $40 million cryptocurrency venture fund which will be supported by two prominent public funds. This recent development will mark the first-ever involvement of U.S. pension funds in the virtual currency ecosystem.
Anthony Pompliano, the founder of Morgan Greek Digital recently made the announcement on social media.
He tweeted,
Source: Twitter
According to the announcement, the two largest investors in the multi-million cryptocurrency fund are the Fairfax County Employees and Fairfax County Police Pension Plans.
The two pension funds manage an asset portfolio with a combined net worth of a whopping $1.2 billion dollars. They have also become the first public retirement fund to invest in virtual assets, setting a new milestone in the crypto industry.
According to reports, the importance of these two public pension funds taking this huge step forward can potentially have profound ramifications for the cryptocurrency ecosystem.
Even though there is no public disclosure of the investment terms, Anthony Pompliano did clearly hint that the fund will be for a legitimate special purpose vehicle [SPV]. The reports further indicated that apart from equity investments in crypto-based companies, the fund will retain a portion of its value in major cryptocurrency, favourably Bitcoin.
The rumour mills regarding public pension funds becoming lenient towards the idea of investing in virtual assets started circulating when CNBC news announced the possibility in April of last year.
The founder of Morgan Creek Digital also rallied public pensions to invest and promote the idea of blockchain space with a blog, in which he indicated that Bitcoin has the potential and capability to save the US from its forthcoming pension issues which he termed as an “impending US pension crisis.”
Talking about institutional interest in the industry at a recent Bloomberg interview, he mentioned,
“There’s a belief in the institutional world that if the industry will be around for a long time, it will be very valuable. The smart money is not distracted by price but looks at the long-term trends, and believes they’re betting on innovation as a great way to deliver risk-mitigated returns.”
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Source: AMB Crypto

Bitcoin [BTC]: Lightning Network surpasses 6000 nodes; network capacity up by 15%

Bitcoin has recently been on the positive side of news, and is one of many cryptocurrencies surging in the ecosystem. On the back of the recent bullish pump which saw the price valuation of all top cryptocurrencies experience positive movement, Bitcoin witnessed a low of $3400 and then surged to a high of $3700, before settling at the current price of $3650.90 at press time.
With this recent development in value and also a week of tremendous Twitter spotlight, Bitcoin’s Lightning Network is hitting new highs and records across the board in terms of mainframe implementation. Specifically, in the case of Lightning Torch, a relay transaction being bounced between nodes has already gained active support from Twitter CEO Jack Dorsey in what became a widely-publicized event last week.
According to data released from the monitoring resource 1ML.com, the website confirmed that the number of active nodes, channels and overall transaction capacity experienced over the month on the Bitcoin’s Lightning Network, are all higher than ever in its thirteen-month since its inception.
In the past 30 days, the network has seen impressive growth in terms of numbers which are as follows,
Number of Lightning nodes: 6,085; up 14.55%
Number of Lightning channels: 24,647; up 27.2%
Network capacity: 656.94 bitcoin (BTC); up 15%
The numbers can be further explained better with the help of charts regarding the network active traffic.
Nodes with and without channels | Source: bitcoinvisuals.com
The blue demographic column in the graph explains the number of nodes with channels the Lightning network has witnessed and the green column the number of nodes without channels.
With channels, the number of active nodes is 3051, whereas without channel it is only 62.
Channels per Node | Source: bitcoinvisuals.com
The graph above demonstrates the number of active channels per node where the blue line indicates no. of channels active in the 90th percentile strength which is at a number of 30 whereas the violet indicates the average strength overall and the number of channels being at 16.
The increase in network size comes as Bitcoin’s “layer 2” payment protocol Lightning Network (also known as “Lightning” or “LN”) continues to grow at a very rapid pace and gain publicity beyond the Bitcoin technical community to be a more user-driven interactive network to get the people familiarized with how the system works.
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Source: AMB Crypto

Litecoin [LTC] vs Bitcoin Cash [BCH]: BCH claims to be most viable transaction option

Cryptocurrency ecosystem has always been competitive as tokens look to solidify their legitimacy and reach worldwide adoption. At press time, the total market capitalization of cryptocurrencies stood at $121 billion and the market volume over the past 24 hours has been about $25 million, after witnessing a large price valuation pump this year.
However, this hasn’t stopped the constant difference surfacing between the digital assets and a twitter account name Bitcoin recently tweeted comparing the transaction fees of Litecoin and Bitcoin Cash.
Bitcoin tweeted:
Source: Twitter
Bitcoin Cash was a result of a hardfork which took effect in August 2017, when a group of developers wanted to increase the block size limit of Bitcoin and developed a code for it. This caused a case of conflict and as a result, the Bitcoin blockchain was split into two.
The group of developers also included Roger Ver, who is one of the current lead proponent of BCH. Roger Ver recently tweeted regarding the Bitcoin block size limit and stated:
Source: Twitter
The Bitcoin tweet mentioned the difference in transaction rates of Litecoin and Bitcoin Cash, driving home the fact that Bitcoin Cash is a more viable and cheaper option than Litecoin, which is supposedly the cheapest alternative in the cryptocurrency market.
According to bitinfocharts, it can be clearly seen that the average transaction fee for Litecoin is 0.0259 USD as compared to Bitcoin Cash average transaction fee, which is only 0.0004 as of on February 8, 2019. This chart also validates the tweet and further solidifies BCH’s claim of being the cheapest option.
Source: Twitter
However, if we observe the transactions per day chart, we can notice that Litecoin is still the preferred option for transactions than Bitcoin Cash as it recorded a total number of 31.023K transactions to BCH’s 10.038K.
Source: Twitter
A Redditor named lubokkanev commented on the tweet and stated that:
“That’s an absurd comparison. A chain either has full blocks or not. BCH won’t have full blocks until a lot of people use it, hopefully never. LTC currently doesn’t have full blocks but it doesn’t want to have big blocks, thus it’s not suited for a global cash system on chain.”
The primary Redditor named OlavOlsm who posted the tweet replied:
“Thats the point. The blocks are more full on LTC than on BCH so the fees are higher. This was way worse 1 year back. Bitcoin had way more fee than Litecoin at that time but Litecoin also had way more fee than Bitcoin Cash. Bitcoin Cash never had full blocks and experience the so called fee market and to avoid a fee market is the goal because the fees always have to be as small as possible. When the price go up enough the minimum fee per byte will be reduced I am sure. But for Litecoin, that is not the case.”
The post Litecoin [LTC] vs Bitcoin Cash [BCH]: BCH claims to be most viable transaction option appeared first on AMBCrypto.
Source: AMB Crypto