📮 19-03-2020

📈MarketCap:                  $173  B

📊24h Mcap %:                  19.10%

⚠️Bitcoin Dom:                 64.70%

📌Active Coins:                2,897

📍24h Vol %:                    35.20%

💲24h Vol:                    $157  B  

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1. Venezuela's P2P Bitcoin (BTC) Trading Surges

The coronavirus pandemic has literally crippled the world economy in recent weeks however daily Bitcoin trading volume of Venezuelan peer-to-peer (P2P) exchanges has been on the rise over the past two weeks, as President Nicolas Maduro has ordered the nation to go into quarantine as part of measure towards coronavirus pandemic. In the past week, bitcoin trading volume on LocalBitcoins rose from its February high of 491 BTC to 540 BTC. Read Full on BTCMANAGER.

2. Binance Launches P2P Crypto Trading in Latin America

Binance, the leading global cryptocurrency exchange by trading volumes and users, announced starting today, users can directly buy and sell BTC, ETH, USDT, BNB and BUSD, on its peer-to-peer platform using Brazilian Real (BRL), Argentine Peso (ARS), Colombian Peso (COP), Mexican Peso (MXN) and Peruvian Sol (PEN). Binance Co-Founder and CEO Changpeng Zhao (CZ) said Latin America is one of the most active regions for cryptocurrency trading, and peer-to-peer trading is widely used in the Latin American community. Read Full on binance.

3. BitMEX Research Suggests Issuance of CBDCs May Lead to Inflation

BitMEX Research suggests that central banks can have two approaches to the issuance of the CBDCs. They can either ban all cash, or instead, allow “the general public to make electronic deposits at the central bank.” If the former path is chosen, it “removes the one remaining liquidity constraint on the banks, allowing them to expand credit and create new money, almost at will.” If the latter approach is taken, it “provides an extremely powerful way for people to exit the commercial banking system, which is likely to heavily constrain the banks’ ability to create credit.” Read Full on Cointelegraph.

4. Russian Central Bank Admits It Can't Ban Bitcoin

Alexei Guznov, The Director of the Bank of Russia’s legal department has admitted that Bitcoin and other cryptocurrencies cannot realistically ever be banned in the country. When asked whether the Bank of Russia wants to ban residents from converting crypto into local fiat currency, the Russian ruble, or a foreign currency, Guznov reiterated his stance that the central bank opposes institutions issuing cryptocurrencies, adding that the bank would be unable to impose certain limits on transactions in Bitcoin. Read Full on cointelegraph.

5. Hawaii launches regulatory sandbox for digital currency issuers

Hawaii unveiled a regulatory sandbox for digital currency firms on Tuesday. The state announced the establishment of its "Digital Currency Innovation Lab" a two-year initiative that allows digital currency issuers to do business in Hawaii without a state money transmitter license. The governor's statement said it hopes to gain more perspective on digital currency and its activities through the two-year period, with an eye towards crafting legislation. The insights attained will be used to determine the future of digital currency in Hawaii. Read Full on hawaii.

6. BitMEX: Financial Crash Is Bitcoin’s Biggest Test

BitMEX, the world’s second largest crypto exchange by daily trading volume as of press time, believes that amid the ongoing global coronavirus crash, Bitcoin faces its biggest challenge and the opportunity to prove its potential during the global financial crisis. Pointing out that inflation is likely to reveal “one clear winner” under a new global financial regime, BitMEX Research emphasized that Bitcoin created in 2009 as the first ever cryptocurrency now has its biggest chance to purportedly prove its worth. Read Full on Cointelegraph.

7. Ripple New Partnership with DeeMoney to Broaden Its Global Presence

Fintech firm DeeMoney, headquartered in Thailand, has announced its partnership with Ripple. DeeMoney conducts international payments and is now going to make them through RippleNet. DeeMoney is the first financial company in Thailand to use Ripple that does not offer banking services. DeeMoney has started using the benefits of RippleNet to provide payments to Thailand from surrounding countries – South Korea, Indonesia and Singapore, as well as Israel and the Middle East areas – offering lower fees for remittances. Read Full on Twitter @Ripple.

8. Willy Woo: Bitcoin is Bullish as BTC Starts Decoupling from Traditional Markets

The financial recession and the COVID-19 pandemic continue to hold traditional markets and the Bitcoin price low. However, some analysts expect BTC to reverse in the short term. Trader Willy Woo says that, among other factors, one key event is necessary first – decoupling from the conventional markets. He shared several bullish BTC charts from various areas. The first one shows that Bitcoin and gold may have started delinking from one of the biggest conventional market indexes – S&P500 – three days ago. Read Full on twitter.

9. Square Obtains Conditional FDIC Merchant Lending License

The U.S. Federal Deposit Insurance Corporation (FDIC) has granted conditional approval for Square to function as an Industrial Loan Company (ILC). The FDIC Board approved Square’s deposit insurance application to create a “de novo industrial bank.” The bank, Square Financial Services, Inc., will originate commercial loans to merchants that process card transactions through Square, Inc.’s payments system. Square Financial Services, the company’s banking subsidiary, is expected to launch in 2021. Read Full on coindesk.

10. Bitcoin Rises Above $6,000 Mark In Massive Price Surge

The price of Bitcoin broke through the $6,000 mark, rising $1,250 today. At present, the price of Bitcoin is $6,320, up 20% in the last 24 hours. This follows Bitcoin's biggest price drop in the last seven years. Over the past week, Bitcoin's price fell from $9,000 to $4,500. The crash was aided by congestion on the Bitcoin network, and extreme price volatility on some crypto exchanges. It posed a big question for Bitcoin miners, who were betting on a big Bitcoin bull run to lead them through the halving. But on today's revival, the narrative swiftly changed. Read Full on Decrypt.