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Stellar move?

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November 5, 2019
LUMENS ALIGHT: The Stellar Development Foundation has burned 55 billion XLM tokens, more than half the total supply. “We didn’t start by wanting to burn. We started by asking, ‘What do we need?'” CEO Denelle Dixon said at an event Monday. “As much as we wanted to use the lumens that we held, it was very hard to get them into the market.” XLM’s price jumped 18 percent in the last 24 hours. Full story

RICH LIST: The number of addresses holding more than 1,000 BTC has grown 30 percent in the past 12 months, possibly reflecting an influx of high-net-worth investors, according to Coin Metrics data. Full story

CASE TO ANSWER? Ripple’s argument that an XRP holder waited too long to file suit again has no precedent, according to a new legal filing. Bradley Sostack, plaintiff in a putative class-action lawsuit, claimed that Ripple’s three-year limit on when victims can claim alleged wrongdoing does not immunize it from securities laws, due to on-going sales of XRP. As such, the court should deny Ripple’s motion to dismiss, he argued. Full story

DEX COMPLIANCE: Binance Chain transactions are now traceable for compliance purposes. Binance said Tuesday it would utilize CipherTrace’s intelligence tools, bringing anti-money laundering analysis and support to its in-house blockchain, which is both the foundation for the Binance DEX (decentralized exchange) and the exchange’s BNB token. Full story

BOTTLE CHAIN: The IT firm behind Coca-Cola’s bottle supply chain will add 68 new members to its blockchain pilot. Coke One North America says its partnership with software provider SAP is now set to expand from two to 70 manufacturers, which deliver 160,000 bottles of Coke to stores daily. Full story
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STUBBORN RESISTANCE: A four-month falling trendline proved a tough nut to crack during the Asian trading hours on Tuesday, as bitcoin rose from $9,200 to $9,500 to fall again. That’s the fifth time in 11 days the hurdle has capped gains. A rise back to $9,500 cannot be ruled out, as the pullback lacked volume support. Full story

MOBILE IMMUTABILITY: In another move towards blockchain adoption in the automotive industry , startup Block2 unveiled a vehicle service marketplace, reports Ledger Insights. Built on Ernst & Young’s OpsChain Tesseract blockchain, the 2Mota platform lets businesses bid for car maintenance and repair jobs. The service also acts as a place for contractors to hire and vet workers as well as to rent out unused workshops.  

WHO WON #CRYPTOTWITTER
 

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Ron Paul Bitcoin survey / Turkey's CBDC / Coca-Cola and the blockchain

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Market Watch: Industry prices remain relatively unchanged today. Stellar, currently in 10th place, has seen a significant rise in the past 24 hours, jumping over 16 percent in value.

  • Bitcoin: $9,308 (⬆️ 0.73%) // $167.8 billion market cap.
  • Ethereum: $186 (⬆️ 1.05%) // $20.1 billion market cap.
  • XRP: $0.299 (⬆️ 2.15%) // $12.9 billion market cap.
  • Bitcoin Cash: $290 (⬇️ 0.50%) // $5.2 billion market cap.
  • Top 100 Winner: Stellar: $0.080 (⬆️ 16.18%) // $1.6 billion market cap.
  • Top 100 Loser: iExec RLC: $0.617 (⬇️ 9.59%) // $49 million market cap.

Prices are as of 12:30 p.m. EDT.

     

1. Nearly 60 percent of voters would pick Bitcoin as an investment choice for 10 years, according to a survey posted by former U.S. Congressman and former presidential candidate Ron Paul on Twitter. Yesterday, Paul posted a tweet to his nearly 650,000 followers asking them how they would accept a $10,000 gift that they couldn't touch for 10 years. So far, over 70,000 people have cast their vote, with 58 percent in favor of Bitcoin. Gold is in second with 33 percent, followed by a 10-year treasury bond at seven percent and federal reserve notes bringing in two percent. Paul has spoken in a favorable manner regarding cryptocurrencies in the past. In July, during an interview with CNBC's "Squawk Alley," Paul said that he thought cryptocurrencies were "a great idea." Yesterday's survey follows after a Bitcoin gift that he received from Bobby Lee, board member of the Bitcoin Foundation and founder of Bitcoin wallet Ballet Crypto, last week. It's believed to be his first Bitcoin. –@RonPaul

Ron Paul survey shows Bitcoin is the preferred 10-year investment choice
     

2. Turkey's President Recep Tayyip Erdogan has indicated that the government should complete its testing of a central bank digital currency (CBDC) in 2020. According to a report, the blockchain-based digital lira is to be issued by the Central Bank of the Republic of Turkey in line with its 2020 Annual Presidential Program. Turkey is the latest country to explore the potential of a central bank digital currency. China is another, which has said in the past that its CBDC is ready to launch. –COINTELEGRAPH TURKEY

Why it Matters: It is hoped that Turkey's CBDC will strengthen the country's economy while helping make Istanbul a more appealing global financial center.

     
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3. Coca-Cola is introducing a blockchain-based solution developed by German software firm SAP to manage its supply chain. Coke One North America (CONA), which manages the IT services for the bottlers, is in charge of operations involving the manufacturing, bottling, and shipping of 160,000 orders of Coca-Cola products each day, generating more than $21 billion in revenue every year. According to Andrei Semenov, senior manager at CONA, there are several "transactions that cross-companies and multiparty that are inefficient," which go through middlemen and are slow. By turning to blockchain, the company believes they have a way of improving this service and saving money. –BUSINESS INSIDER

Coca-Cola is introducing the blockchain to manage supply chain
     

4. The British Columbia Securities Commission (BCSC) has seized control of the Einstein cryptocurrency exchange. Announced yesterday, the BCSC said that it had filed to take control of the platform and that it was planning to shut it down within the next 60 to 90 days. A court filing states that the exchange owed its customers $12.4 million. The commission had previously received a number of complaints from customers alleging that they were unable to access their funds on the platform. –COIN DESK

     

5. The Stellar Development Foundation (SDF) has burned 55 billion of its Stellar Lumens (XLM) tokens in an effort to become more efficient as it moves forward. Prior to the burn, the foundation had 85 billion tokens that were pegged for SDF operations, giveaways, and partnership programs. It now has 50 billion tokens, taking into consideration the coins already in existence. Since the burn, the market has responded positively to the news, with the token's price rising 16.36 percent in 24 hours to $0.080 per coin. –@STELLAR DEVELOPMENT FOUNDATION/MEDIUM

     

6. Bitcoin Cash advocate and former CEO of Bitcoin.com Roger Ver is giving away $1 and $5 worth of Bitcoin Cash, stating that it could one day amount to $1,000 or $5,000. Ver posted a message on Facebook yesterday with the offer to Facebook and non-Facebook friends to help spread the adoption of the coin. –@ROGER VER/FACEBOOK

     

7. Jet Token is aiming to raise $10 million in a funding round that would enable travelers to use ERC20 tokens to lease private jets. According to the company, the use of crypto would "allow for faster booking confirmation" of chartered flights. Jet Token also believe that travelers willing to pay the money will get access to more options if the market was managed better. –COIN DESK

     

8. Cryptocurrency exchange Huobi Global is to freeze all U.S. customers' accounts from November 13 onwards. In a blog post, the platform stated that as per its user agreement, it prohibits customers in the U.S. from using its trading platform. It goes on to say that accounts in America "have been gradually disabled to prevent any further trading or transferring." –HUOBI GLOBAL

     

9. Gold advocate Peter Schiff has said that a crypto asset backed by gold in China would put Bitcoin at a disadvantage. He was responding to Max Keiser, host of the Keiser report, who argued that he was "an idiot" for thinking gold was better money than Bitcoin. In response, Schiff stated that a crypto coin backed by gold in China would be "bullish for gold and bearish" for Bitcoin. –@PETERSCHIFF/TWITTER

     

10. Business-to-business (B2B) cross-border payments on the blockchain are projected to hit $4.4 trillion by 2024, after reaching $171 billion in 2019. That's according to findings from Juniper Research. According to the study, financial firms will save around $7 billion by 2024 thanks to the blockchain-based systems. The use of the technology is helping to digitally transform financial operations. –BUSINESS WIRE

     

This newsletter was written and curated by Rebecca Campbell. She has been writing and reporting on various industries for the past 10 years, more specifically tech in the last three. Connect with her on Twitter.

 

     
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