Last week, Facebook announced ‘Libra Coin’, a coin managed by a private consortium that they have pitched to the world as a cryptocurrency (or something that somewhat resembles one). Facebook has heralded Libra as a panacea for value exchange, but there are a huge amount of hurdles that Facebook and its Libra consortium affiliates will have to surmount before and if Libra ever actually materializes this promise.
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It’s easy to get caught in the constant volatility of the crypto market. Numbers go up. Everyone celebrates. Numbers go down. Everyone capitulates. But understanding the long-term market sentiment around crypto, and measuring the progress of the crypto development, is slightly more difficult. Most investors,
Bicameral Ventures has made a strategic investment in fintech startup Balance, aimed at accelerating its growth. The investment brings Bicameral’s portfolio to nine projects that are targeting challenges in various layers of the technology stack, with an aim of delivering end-user experiences by leveraging the blockchain and associated virtualized technologies.
Libra’s much-anticipated unveiling has generated significant enthusiasm amongst followers of both the digital-asset economy and traditional markets. For an industry grappling with a lack of mainstream acceptance during its formative years, watching Facebook and its consortium of corporate partners enter the fold is sure to be viewed as a vindication of blockchain and cryptocurrency.
The happy days are here again for bitcoin traders and HODLers, as the godfather coin continued its rapid appreciation. BTC has topped the $11k mark on enormous volume, and appears headed higher.
Meanwhile, ether is at $311 at mid-day and also has its own momentum building.
Bitcoin continued on a roll today, rising as high as $9,800 on extraordinarily high volume. Given the momentum, it’s likely the coin may breach the magic $10,000 mark in the next few days, barring some black swan pullback.
The news was equally good among the top ten in alt-coins.
The digital asset landscape has undergone some significant changes since the dramatic price surges of December 2017 as a result from users becoming more interested in blockchain technology. The market turbulence that followed has undercut the perception of cryptocurrencies in the eyes of many, with erosion of the virtues of trust and security taking place due to price volatility and the actions of some illegitimate projects.
Bitcoin is now above the $9,300 mark, up slightly more than two percent on the day and continuing its strong surge. Trading volume was again enormous, as the godfather cryptocurrency appears poised to test the $10,000 mark.
Alt-coins didn’t fare as well. Ether was up less than one percent to $268,
After months of rumors, Facebook today unveiled its plans for its own cryptocurrency, which the company called Libra. The social media network is launching with support from partners including PayPal, Uber, Spotify, Visa and Mastercard and plans to debut Libra sometime in the next six to 12 months.
While the Crypto Winter may be lingering with us into the spring, crypto exchanges are doing just fine. According to CoinMarketCap, there are now 255 major crypto exchanges. That’s a notable increase from a year ago, when there were 208.