Today with the CryptoPig Channel and we have an explosive number of news to share with you today.
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Now, let’s look at the market. As you guys can see there are mixed reds and greens in the market. We have Bitcoin falling by 0.63%, Ethereum decreasing by 0.27% and Ripple’s XRP increasing by 3.61%. You can see here that Bitcoin SV probably got a bad hit from the negative press lately with a decrease of 8.48%. Moving onto the top 20, you can see here we have a lot of red across the board, but Tezos one of the only greens is actually shooting up to 12.12%.
Let’s move onto the news guys. First up, according to U Today, looks like the case between the SEC and Kik had resulted in Ethereum’s Ether being labeled as a usable currency and not a security. We knew in the past that the SEC does not consider Ethereum a security. However, the recent lawsuit solidified this precedent. The SEC now has a firm stance that Bitcoin is not a security and Ethereum’s Ether is also not one too.
Now, the next news item for today, according to a tweet from Pompliano, ‘74% of Bitcoin mining is powered by renewable energy, as reported by CoinSharesCo. Don’t tell the haters. It will ruin their narrative.’ Now if I go onto the CoinShares Twitter page, you can see here that you can actually gain this report – all you need to do is to put in your name and email to download.
Next up we have Bitcoin mining migrating from China to the United States. While the Coinshares report shows that there is a large number of miners in China, according to Cryptoslate, it looks like Bitcoin mining is gaining a strong foothold in the United States..
And finally, the last news item for today. Binance launched its own stablecoin. According to CCN, Binance is planning to launch a stablecoin in the next few weeks to a month or two. Wei Zhou, the Chief Financial Officer at Binance revealed the news to CCN.
I’m really interested and curious to see what will happen next to the stablecoin market. It looks like China is a major market for Tether, but if we look at the scale of Binance and the network effect it can have over the global cryptocurrency exchange market, I believe the GBP token can be a big game changer in the stablecoin and cryptocurrency market. While Circle and Coinbase released the USDC in October 2018 last year, it doesn’t look like the USDC has done much to take away from the dominance of Tether.
But Binance is much larger than Circle and Coinbase.
What do you guys think of this situation?
First up, do you think Ethereum’s Ether will shoot up in price after the SEC’s declaration that it is a currency and not a security?
And what do you think about the fact that 74% of mining comes from renewable sources?
Are you glad to see companies move from China to the United States when it comes to Bitcoin Mining?
And finally, Are you going to buy the GBP token from Binance? And will it threaten Tether’s dominance in the market?
Let me know what you guys think in the comments below! Also don’t forget to like, comment, and subscribe to go into the draw to win $70 Bitcoin which we will announce tomorrow.
It’s Cindy with CryptoPig, I’ll catch you guys around!