Analysts predict Ether may soon hit a new all-time high after ETH reserves on centralized exchanges fell by 27% in two days.

NEWS

Image for post
Image for post

The amount of Ether held on exchanges has plunged over the past two days, with CryptoQuant data indicating that just 8.1 million ETH is currently sitting in the reserves of centralized exchanges.

The acceleration of ETH being taken off exchanges was highlighted by Nuggets News’ Alex Saunders, who noted a 10% drop in Ether reserves on centralized platforms on Jan.14 — from 11 million to 10 million over 24 hours. …

Bitcoin whales are selling while buyers in the U.S. are accumulating, who will get the upper hand, and where will BTC’s price go next?

ANALYSIS

Image for post
Image for post

The price of Bitcoin (BTC) achieved a new all-time high above $42,000 on Jan. 8, surging by 9% in merely three hours. At the time, there was a high premium on Coinbase, which meant U.S. buyers drove up the market by aggressively accumulating BTC. But, there is continuous selling pressure coming from Asia, particularly from South Korea.

Bitcoin corrected sharply after rising to $42,000, declining by over 7% in about eight hours. The sell-off coincided with significant whale activity across major exchanges. Trading activity in the altcoin futures market also demonstrated a similar trend. For instance, on Jan. 9, a whale unloaded a big portion of Ether (ETH) longs on Bitfinex, taking profit for the first time since March 12. …

The world’s largest asset manager is looking to fill the role of vice president, blockchain lead.

NEWS

Image for post
Image for post

BlackRock Financial Management Inc., the $7.8 trillion asset manager, appears poised to expand its presence in blockchain and digital assets.

According to a new job posting, the company is recruiting for the position of vice president, blockchain lead for its New York office. The person hired for this role will be tasked with creating and implementing “strategies designed to drive demand for the firm’s offerings,” as well as “enhance the value proposition […] of the firm’s investments and technology offerings.”

The candidate must have at least one year of experience in blockchain business, including “cryptographic hash functions, distributed network consensus mechanisms, and public-private key cryptography.” …

Many have called the long-rumored rules an existential threat to peer-to-peer transactions.

BREAKING NEWS

Image for post
Image for post

The Treasury has released its long-awaited proposal to restrict money services businesses, including U.S.-registered crypto exchanges, from dealing with self-hosted wallets.

In a Friday evening announcement, the Treasury’s Financial Crimes Enforcement Network, or FinCEN, announced proposed rules requiring registered crypto exchanges to verify the “identity of their customers, if a counterparty uses an unhosted or otherwise covered wallet and the transaction is greater than $3,000.”

The rule is currently just a proposal. The Treasury has given stakeholders 15 days to respond with comments.

Rumors of the proposed rules have been circulating for the past month. With Treasury Secretary Steven Mnuchin on his way out the door as a new administration comes in, they have been viewed as a parting shot at crypto. Of the announcement, he…

Twitter, Wikipedia and even Google search activity point to a world still unaware of the best macro asset available to anyone.

MARKETS NEWS

Image for post
Image for post

Bitcoin (BTC) has gained 30% in a week and topped out at $23,777 on Dec. 16 — but hardly anyone in the world knows yet, data suggests.

According to charts tracking public awareness of what Bitcoin has done recently, interest is still a fraction of what it was during its run to previous all-time highs exactly three years ago in 2017.

Twitter sleeping on BTC Outside “CT”

Anyone who regularly reads crypto Twitter, also known informally as “CT,” may have the impression that the entire social network revolves around Bitcoin price action in 2020. …

Malta’s plan to become a”‘blockchain island” appears to have stalled, with few retail banks indicating a willingness to work with crypto firms.

NEWS

Image for post
Image for post

Malta’s Finance and Employment Minister, Clyde Caruana, has revealed that the nation’s plan to become a “blockchain island” is floundering due to the unwillingness of local banks to work with innovative firms.

Speaking to local media outlet Lovin Malta, Caruana noted that few local businesses have been able to secure banking partners, asserting: “Traditional banks have written off blockchain at its early stages.”

“The banks must be convinced that this is something that can really happen; unless banks are on board it will be very difficult.”

Even a nominal investment from insurance firms and pension funds could be significant for Bitcoin.

NEWS

Image for post
Image for post

MassMutual’s $100 million Bitcoin (BTC) purchase shows that the demand for cryptocurrency will be growing further, according to strategists at major investment bank JPMorgan.

In an investor note on Dec. 11, JPMorgan strategists including Nikolaos Panigirtzoglou reportedly suggested that Bitcoin adoption is now expanding from family offices and wealthy investors to bigger investors like insurance firms and pension funds.

As reported by Bloomberg, the experts said that insurance firms and pension funds are unlikely to invest large amounts in Bitcoin, but even a small shift toward crypto could be significant. …

Ethereum price is closing in on $600 and multiple metrics suggest the top altcoin is ready to notch a new 2020 high.

MARKET ANALYSIS

Image for post
Image for post

Ether (ETH) price might have had a disappointing week after its price failed to hold the $600 level, but the fundamentals of the network and cryptocurrency remain solid. Traders are known for having short memories so it’s worth mentioning that Ether price is still 45% higher than it was in the previous month.

To understand whether the recent correction reflects a temporary consolidation or an effective ceiling caused by the lack of adoption, it’s helpful to gauge the metrics which reflect network usage on the Ethereum network. …

CFTC Chairman Tarbert announces resignation, confirms that Ether is a commodity

Over the course of his 18-month term, Tarbert has been a consistent advocate for principles-based regulation of crypto.

NEWS

Image for post
Image for post

In a Dec. 10 public statement, Chairman Heath Tarbert announced that he will be leaving the Commodity Futures Trading Commission early next year.

In listing accomplishments over the course of his term, Tarbert included that: “we have promoted responsible fintech innovation and declared Ether a commodity.”

This tracks with Tarbert’s broader interest in the crypto markets and earlier statements affirming that Bitcoin and Ether should not face regulation as securities.

Tarbert, who joined the CFTC in 2019, has been a noted voice for sound crypto regulation at the federal level. He joins a laundry list of appointed regulators who are leaving their posts to make way for a new administration. …

Image for post
Image for post

Hello again and greetings dear community members,

How are you? We like to take this opportunity to thank you again for your queries related to listings on various exchanges.

P2PS is currently listed on many exchanges along with two exchanges approved by Coinmarketcap (CMC) and Coingecko. P2PS is already listed on Coingecko but we have not yet applied for Coinmarketcap listing which our team intends to do after listing on a couple of more CMC approved exchanges. …

About

P2P Solutions Foundation

WORLDS FIRST SECURE, INTERFERENCE-FREE, COMMUNICATIONS SYSTEM TO PROTECT YOUR PRIVATE DIGITAL ASSETS AND DATA.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store