Let’s check out TradeSanta’s weekly news. Top stories of the past week in cryptocurrency industry are collected right in our digest:
- Facebook plans to implement GlobalCoin;
- American mobile operator AT&T now accepts cryptocurrency;
- European Central Bank admits that crypto is not a threat to financial stability.
Cryptocurrency Market Stats
The total capitalization of all digital assets in circulation hit $250 billion by the end of the previous week, take a look at the market stats.
|Stat||Value (7d change)|
|Market Cap||271 726 821 709 (+8.95%)|
|Markets||18 701 (+0.63%)|
|BTC Dominance||57.5% (+1.21%)|
Major Coins’ Price Stats
According to Coinmarketcap data, BTC soared by the end of the previous week, alas, XRP slid down and suffer loss. Check them out.
|Coin||Close||7d Gains||7d High||7d Low|
|Bitcoin||8 673,22||+5.80%||8 687,52||7 924,67|
Quote of the Week:
Brad Garlinghouse, Ripple CEO: “I don’t think banks, I don’t think governments will go away. Banks are applying a very important regulatory framework that I actually think is important for society. I personally believe that banks will continue to serve that role, they’re good at it. I think this is a new set of technologies that they can benefit from to grow their business”.
In Case You Missed It:
- The European Central Bank has posted its report on cryptocurrencies and their impact on the financial stability of the region. According to the paper, Eurozone’s financial regulator admits that digital assets weren’t a threat to the economy: “The ICA-TF analysis shows that crypto-assets do not currently pose an immediate threat to the financial stability of the euro area. Their combined value is small relative to the financial system, and their linkages with the financial sector are still limited.”
- Social media giant Facebook officially announced their plans to implement its own cryptocurrency called “GlobalCoin” in 2020, according to a report from the BBC. Mark Zuckerberg asked the officials of the U.S. Treasury and the Bank of England for advice regarding rolling it out and regulatory issues. Facebook also collaborates with Coinbase and Gemini in order to prepare a third-party platforms for GlobalCoin users. It is planned that this cryptocurrency will help Facebook users transfer money and shop online.
- AT&T and the BitPay payment service offered AT&T clients new option: to pay their bills using cryptocurrency. AT&T’s announcement doesn’t specify which cryptocurrencies it will accept. If we take a look at the list of supported currencies on BitPay, we can suggest that 5 cryptocurrencies (Bitcoin, BCH, GUSD, PAX, and USDC) can be available. And while the cryptocurrency community celebrates it as a win, alas, mainstream adoption of cryptocurrenсies is still a long way ahead.
We hope that our digest will be really helpful, and we wish you happy trading!