#CryptoCorner: BTC Breaks $9K over Green Weekend, Over 1 Million Daily Active Addresses for BTC, Russia Considering CBDC and OKCoin Partners with Simplex

#CryptoCorner: BTC Breaks $9K over Green Weekend, Over 1 Million Daily Active Addresses for BTC, Russia Considering CBDC and OKCoin Partners with Simplex

Point Roberts WA, Delta BC, June 17, 2019 -  Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.’s  (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and  the Genesis Exchange and Wallet  App bring you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market .

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Stocks discussed: (NasdaqGS:FB)

The crypto market enjoyed a fairly steady incline over the weekend, beginning with a total market cap of around $263 billion USD on Friday and rising to roughy $289 billion at press time, according to data from CoinMarketCap. Bitcoin (BTC) has surged over $1,000 in that same period, growing from under $8,300 on Friday to a present trading price of over $9,300 and a market cap of $166 billion. Leading the altcoins, as usual, are Ether (ETH) and XRP with market caps of $29 billion and $18 billion, respectively.

A piece on CoinDesk identifies the three major factors in this bull run as: the hype around Facebook’s (NasdaqGS:FB) launching of GlobalCoin tomorrow (Tuesday), which has garnered considerable institutional support. A sell-off of exchange giant Binance.com’s native currency Binance Coin (BNB) as a result of the company’s barring of U.S. customers and Litecoin’s (LTC) impending ‘halving’, which “will cut the reward gained from mining the cryptocurrency by half” – are both highlighted as reasons for the green market.

Accompanying this bull run is the fact that Bitcoin once again has over one million daily active addresses, according to data from CoinMetrics.io. Bitcoin first reached this milestone in November 2017. Tech writer Kevin Rooke compared that occasion with the current situation in a tweet:

When Bitcoin first broke 1 million active addresses (Nov 27, 2017), 1 BTC was $9,352 and the median tx fee was $3.23.

Yesterday 1 BTC was $8,230 and the median tx fee was $1.33.

Russia’s central bank is considering the launch of its own digital currency, according to state-backed outlet TASS. Bank of Russia head Elvira Nabiullina said:

“Indeed, the Central Bank Digital Currency cannot be realized immediately, however many central banks, including the Russian Central Bank, are exploring this possibility.”

She went on to explain that trends indicate the digitalization of money and that CBDC’s enable greater privacy:

“If we look, some countries have really become almost non-cash, but in many countries cash is still in great demand. It’s not so much because people want to perform some dubious operations. People often value their privacy, anonymity.”

Cointelegraph reports that fiat-to-crypto exchange OKCoin has formed a partnership with fintech firm Simplex to allow USD deposits for users outside Europe, China and the U.S. using debit and credit cards. According to the piece, “Simplex leverages AI and proprietary detection algorithms to analyze transactions and mitigate the risks of fraudulent card payments”.

Sam Mowers, Investorideas
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