Monat: November 2020

Ethereum course (ETH) was invented by Vitalik Buterin and is a large blockchain for smart contracts, dapps and even token creations. The picture shows a metal coin of Ethereum in front of a price curve.
The Ethereum price is currently between $ 440 and $ 470, which corresponds to the price trend in December 2017. Back then, the scenario ended with an incredible upward trend and the altcoin shot towards $ 1,400 at lightning speed.

Currently, in 2020, many investors are aware of this and therefore believe that the Ethereum price could follow a similar price trend. This is supported not only by the similar price level, but also by some important on-chain and technical indicators that reflect the levels of the previous bull run at Ethereum (ETH) . Now let’s take a closer look at what these are and why ETH cops have every reason to hope.

Ethereum price & transaction volume is going through a similar development

On December 10, 2017, the Ethereum price was $ 450. It only took 34 days for ETH to hit its all-time high thereafter. Before this price explosion, the altcoin moved sideways for over two weeks. Should the past repeat itself, some on-chain metrics and historical data suggest that it could happen in the next ten days.

The above comparison of the Ethereum price trend in December 2017 and currently November 2020 illustrates why the latest price movements have awakened investors‘ hopes for the next crypto bull market like the end of 2017. Although the Ethereum price itself is of course an important metric, it does not allow any direct derivation of important on-chain metrics such as network usage and volume.

To assess the scope and amount of daily transactions, Coinmetrics offers customized transactions.

Daily average of ETH transactions (left) vs. Ethereum course (right). Source: Digital Assets Data
The above chart shows $ 1.9 billion of recent wire transfers and transactions. This corresponds to an increase of 46% compared to the previous month. Although the increase in the Ethereum price undoubtedly contributed to the fact that the transaction volume was screwed up, the same effect was also observed at the end of 2017. Therefore, this could be another parallel between the developments around the Ethereum course in 2017 and now.

Funds settled and transferred through the Ethereum network in November 2017 amounted to $ 830 million. This all changed suddenly by the end of the month when the indicator broke the $ 2 billion mark. The same indicator is closely related to the current scenario.

The number of active ETH addresses provides information on network usage

In order to better assess the network activity, you should also analyze the daily number of active addresses. While it should not be interpreted as the number of active users, it is a reliable measure of network usage.

The November data appears to repeat the previous month’s peak of 550,000 daily active addresses. This time around, activity appears to be at a much higher level than it was in late 2017.

The Bitcoin Movement is launching a new collection in collaboration with rapper Zuby, the authenticity of which is registered on VeChain.

On Friday, the online retailer Bitcoin Movement (BTCMVMNT) has a limited streetwear fashion collection brought to market , which brings to each garment one entered on the block chain „proof of authenticity“

The 300-piece collection, which was designed with the help of British influencer and rapper Zuby, consists of 50 hoodies, 125 caps and 125 t-shirts, all of which are adorned with the “21 million” logo. Again, this is an allusion to the maximum amount of Bitcoin in circulation.

Each piece in the collection under the motto “Take the Power Back” has a chipset, which in turn is connected to the VeChain blockchain. Using a smartphone app from Bitcoin Movement, customers can then scan a sewn-in sticker, which means that the Immediate Edge reads product information about the item in question in real time.

In the event that it is a real piece, the message “100% real” is displayed. In addition, the app provides the version number of the garment and the unique transaction ID through which the respective item is anchored in the blockchain.

Daryl Kelly, the founder of Bitcoin Movement explains:

“I wanted our first collection as a Blockchain Limited Edition to capture the philosophy of Bitcoin. It is intended to depict exactly the properties that made Bitcoin so disruptive, successful and attractive for everyone who is looking for truth and transparency. The market-leading blockchain from VeChain fits perfectly with our movement ”.

The new collection is not the first time that limited-edition items of clothing are connected to a blockchain to guarantee their authenticity. More and more fashion designers around the world are using the technology for their supply chains or to prove the authenticity of their pieces.

The well-known brand Alexander McQueen has in turn a new September 3 block chain-based fashion label launched , allows both designers and consumers to register their clothes and resell.

Dagen nadat mediakanalen van over de hele wereld meldden dat de Labuan-tak van de China Construction Bank (CCB) de allereerste blockchain-aangedreven RMB-obligaties van het land had uitgegeven, heeft de bank in kwestie de juistheid van de rapporten ontkend en eraan toegevoegd dat het geen banden heeft met „cryptocurrencies inclusief bitcoin .“

Hoewel de bank het bestaan ​​van de obligaties of het verband met hun uitgifte niet ontkent, wilde ze er wel op wijzen dat het slechts de ‚lead arranger‘ en ‚lead advisor‘ van het project is, waarbij de feitelijke uitgifte plaatsvindt via een bedrijf genaamd Longbond , en verhandelbaar op de Fusang Exchange .

Het Labuan-filiaal van de bank maakte de aankondiging op haar CCB Malaysia- website en vermeldde:

“Het bijkantoor is NIET de uitgever van de obligatie. […] Het bijkantoor accepteert GEEN cryptocurrencies, inclusief Bitcoin Code voor afwikkeling bij een van zijn banktransacties. “

Labuan is een belastingparadijseiland in Maleisië

De uitgifte – die vanaf vandaag zal plaatsvinden – heeft de krantenkoppen over de hele wereld gehaald. En obligatiekopers zullen inderdaad obligaties van $ 100 en hoger kunnen kopen met behulp van USD of BTC – alleen niet via de bank zelf, maar eerder via de beurs waarmee ze samenwerkt. Een totale doelomvang van het programma van 3 miljard dollar.

Maar nieuwsuitzendingen over de hele wereld – waaronder veel in China – hadden, zo leek de bank af te leiden, ten onrechte gemeld dat de CCB zelf de uitgever was.

Deze omvatten de wil van de Financial Times, die liep met de kop: “China Construction Bank offshore obligaties op basis van blockchain te geven”

Volgens een vrijgave van 11 november van Fusang is Longbond een naamloze vennootschap en „een Special Purpose Vehicle voor securitisatie, opgericht met als enig doel het uitgeven van digitale obligaties en het deponeren van de opbrengst bij CCB Labuan.“ De uitwisseling voegde toe dat CCB Labuan zou optreden als de ‚listing-sponsor voor de deal‘.

De aankondiging gaf niet aan door wie Longbond was opgericht. Cryptonews.com heeft contact opgenomen met CCB voor commentaar.

De gepassioneerde aard van de CCB-ontkenning lijkt erop te wijzen dat hoewel de ijver voor alles wat met cryptocurrency te maken heeft torenhoog blijft in China, banken en andere grote bedrijven nog steeds bang zijn om de woede van Beijing in te roepen – dat in september een bijna totale crypto-repressie uitvoerde 2017 en werkt nu aan zijn digitale yuan.