Market Update 1.12.19 – Bitcoin Whales Resuming Activity After Long Dormancy

| Publish date: 01/12/2019
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 Market News

Bitcoin Whales Resuming Activity After Long Dormancy

The number of Bitcoin (BTC) wallets that are active, many of which have been dormant for some time, has suddenly seen a spike. This could, according to market analysts, could lead to some major market changes.

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The information was first reported by Bloomberg, which based its article on data as well as analysis provided by the crypto-analytics company Flipside Crypto. According to Flipside, since October 2018, a large number of Bitcoin holders who have been inactive for a long period have suddenly started transferring their BTCs.

Read more about this story here.

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Pablo Escobar’s Brother Launches Cryptocurrency

After being blocked from the fundraising platform GoFundMe, the late drug lord Pablo Escobar’s brother, Roberto Escobar is now launching a new cryptocurrency. This new crypto has been named ESCOBAR and is based on Ethereum’s ERC-20 network.

The project, on its website, escobartrump.org stated that its new crypto was going to be a stablecoin that would be anchored to the US dollar and is going to use the funds it generates from its ICO towards the impeachment of President Donald Trump. The website states that their GoFundMe account for the Impeach Trump Fund cause had been censored and shut down.

Find out more about this story here.

Wyoming Passes Two New Crypto-Related Bills

The legislature of the state of Wyoming in the US has passed two new House bills aimed at fostering a pro-crypto and Blockchain regulatory environment. At this time, the status of one of the two bills is known. An update on House Bill 62 has been posted on state’s legislature website, showing that it has been placed on general file after the bill was passed 8-1. The status of House Bill 57 is still unknown.

House Bill 62, titled Wyoming Utility Token Act – property amendments, is important as it establishes an asset class for cryptos. In this bill, open Blockchain tokens that show specific characteristics on consumption will be classified as intangible personal property. House Bill 57, which is titled Financial Technology Sandbox, relates to the development of a fintech regulatory sandbox or a testing environment that will provide waivers on certain laws or rules that would otherwise not give room for innovation.

Read more about this article here.

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Total Market Cap: Jan 12

The valuation of the crypto market continues to slip and it is now at $122.69 billion. Trading volumes have also slipped from yesterday to $16.22 billion.

Bitcoin Price Analysis: Jan 12

Bitcoin is down 0.30% to trade at a price of $3677.01 per token. The world’s most valuable digital asset is now worth $64.26 billion and has trading volumes of $5.20 billion.

Ethereum Price Analysis: Jan 12

Ether’s price slipped for another day by 1.39% to trade at $127.62. The virtual currency’s valuation in the market is now $13.31 billion and is experiencing trade volumes of $2.54 billion.

State of the Top 10 Cryptocurrencies: Jan 12

Three of the top 10 in the crypto market are in the green. The biggest jump has been experienced by Bitcoin SV, which has soared by 9.10%. The next biggest gains have been for Bitcoin Cash, which is now up by 1.43%, and then Tether, which remains stable with a 0.05% gain.

  • Bitcoin’s price is $3677.01, sliding 0.30%. The virtual currency is now valuated at $64.26 billion.
  • Ripple’s price is $0.332432, sliding 0.62%. The virtual currency is now valuated at $13.64 billion.
  • Ethereum’s price is $127.62, sliding 1.39%. The virtual currency is now valuated at $13.13 billion.
  • Bitcoin Cash’s price is $134.97, gaining 1.43%. The virtual currency is now valuated at $2.37 billion.
  • EOS’s price is $2.43, sliding 0.36%. The virtual currency is now valuated at $2.20 billion.
  • Stellar’s price is $0.106228, sliding 2.64%. The virtual currency is now valuated at $2.03 billion.
  • Tether’s price is $1.02, gaining 0.05%. The virtual currency is now valuated at $1.97 billion.
  • Litecoin’s price is $32.60, sliding 2.47%. The virtual currency is now valuated at $1.95 billion.
  • TRON’s price is $0.023600, falling 11.18%. The virtual currency is now valuated at $1.57 billion.
  • Bitcoin SV’s price is $81.57, gaining 9.10%. The virtual currency is now valuated at $1.43 billion.
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