As January draws to a close, two stories are looming large in the crypto news sky. The first is the much anticipated Ethereum hard fork and the second is the SEC’s ruling on Bitcoin exchange-traded funds. Both hold dramatic consequences for cryptocurrency and for the wider financial world as well.
In the UK this week, the FCA published its latest report on what it calls crypto assets mere weeks after a similar publication was released by the European Banking Authority. The findings of both agencies were tertiary and somewhat tepid but at least indicate the sectors’s increasing profile.
Rumours abound that Samsung is looking to install crypto wallets on their phones with a tech paper reportedly leaking images of the new Galaxy S10 complete with a native Bitcoin wallet.
Speaking of Father Time, Bitcoin is up 0.66% today in the market but down nearly 3% across the week. Perhaps that ETF ruling will have a eye-catching effect on the price of the coin but for now it sits steadily around the 3,480 US dollar (USD) mark.
Bitcoin’s stablemate, Ethereum, has experienced mixed fortunes once again this week, with bearish sentiment dulling its value. The coin is worth 106 USD today and finds itself behind Ripple in CoinMarketCap’s top 100.
Delays to the Constantinople hard fork could have been blamed were it not for Ether’s roundly terrible performance in the market for the last 8 months. Ether’s value continues to flatter Ripple which retained the number 2 spot in CMC’s list despite losing 0.51% of its value in the last 24-hours.
Honourable mentions must go to Sentinel Chain (+254%), Ormeus Coin (+146%) and Beam (+143%) for their stellar performances in the minor leagues.
I’ll round out this crypto news round up with the potentially intriguing gulf between dApps and their centralised cousins. Decentralised applications reportedly generated 6.7 billion USD in revenues in 2018 compared to App Store income of just 4.2 billion USD. These figures will need to be verified but the implications of their veracity would be a sight to behold indeed…