Ethereum is the only major crypto in the green today as the Constantinople hard fork looms.
The fork takes place at block height 7,080,000, which should fall between the 14th and 18th January.
First off the mark to support it are the OkEX and Binance exchanges.
The fork will reduce block rewards and pave the way for the introduction of proof of stake consensus, which was eliminate the current prohibitive mining overhead and dramatically increase network throughput.
ETH is currently trading at 148 on Kraken, with heavy resistance ahead.
And while we are on the subject of fork support, Coinbase has still not distributed the BSV coin from the Bitcoin cash fork in November. Coinbase customers are not happy about that, as CCN’s report based on an anonymous informant reveals.
Bitcoin SV (Satoshi’s Vision) is getting it in the neck from its detractors for its logo. The similarities with the original BTC logo have not been lost on the bitcoin community, which has been quick to label the BSV effort as a shoddy rip-off aimed at confusing the difference between the two assets.
Weiss has published its predictions for the year ahead in crypto and is not enamoured with either Bitcoin Cash or Bitcoin SV, declaring that neither bring anything new to the table, saying that both are destined to disappear without a trace.
“Many cryptocurrencies are going to disappear for the simple reason that they bring virtually nothing new to the table. Even among the top 10 by market cap, several fit this description, including Bitcoin Cash, Bitcoin SV, and Litecoin. There is no innovative use case for them. They’re likely to fade away over time.”
Its other six predictions are:
- “Bitcoin will be increasingly used as a store of value.”
- “The price of Bitcoin will rise again and head for new all-time highs.”
- “Select altcoins will rise from relative obscurity to as much as 20 times their previous all-time highs.”
- “A select group of cryptos will compete to build a new kind of internet.”
- “Another select group of cryptocurrencies will disrupt the world of banking.”
- “New coins will rocket to the top 10.”
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The launch of the DX exchange has been widely applauded as a bold move in the direction of tokenisation.
The exchange is making waves by tokenising the shares pf leading tech companies, providing access to markets that are out of reach for some around the globe and proving 24/7 trading on the stocks.
Each token will be backed by a share held in segregated custody.
From the DX website:
MPS MarketPlace Securities, Ltd, under the supervision of the Cyprus Regulator, CySEC, purchases real world stocks, in accordance to token demand in the DX.EXCHANGE platform. They generate smart contracts, ERC20 tokens created on Ethereum’s network to represent those stocks. The tokens offered for sale are be based on leading public company shares listed on the biggest exchanges like NASDAQ, NYSE, Hong Kong Exchange and Tokyo Stock Exchange. Each Dx.exchange customer, interested in Digital Stocks, is asked to go over an additional small approval form with Term & Conditions, MIFID 2 compliant, where he will need to approve to enter into an agreement with MPS for buy/sell of Digital Stocks. MPS MarketPlace Securities, Ltd is the trust holder of the stocks on behalf of the token holders. Since Digital Stocks are not like CFDs with leverage, there are no carrying costs for the token holders. Each token is backed 1:1 by one share of real stock. These shares are held in a segregated account.
DX says there will be no trading fees for volumes transacted under the value of $50,000, but rise thereafter in the following schedule:
|Monthly Volume||Standard Account||DXCash|
Gary has been writing about cryptocurrencies since 2013 and currently works as the cryptocurrency analyst at interactive investor, the UK’s second-largest online investment platform. Gary contributes for Coin Intelligence News in a personal capacity and none of his commentary should be considered investment advice. Gary is the winner of the ADVFN International Financial Awards 2018 Cryptocurrency Writer of the Year. Contact Gary on twitter at: @gary_mcfarlane