#CryptoCorner: Green Market Opens Week with BCH and ETC Surging, Julius Baer (OTC: $DMGGF) Announces Digital Assets Service
#CryptoCorner: Green
Market Opens Week with BCH and ETC Surging, Julius Baer (OTC: $DMGGF) Announces
Digital Assets Service
Point Roberts, WA, Delta BC January 27,
2020 - Investorideas.com, a leader in crypto and blockchain investing news
brings you today’s edition of the Crypto Corner podcast and commentary on
what’s driving the cryptocurrency market .
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Stocks discussed: (OTC:ETCG) (OTC:JBAXY) (OTC:DMGGF)
The crypto market
is looking quite green as we enter a new week. According to data from CoinMarketCap, Bitcoin (BTC) has witnessed a
growth of about 3.43 percent in the last 24 hours at press time, making for a
current trading price of $8,750. The same level of growth can be seen from the
top two altcoins by market cap, Ether (ETH) and XRP, which are valued
at $169 and $0.23, respectively.
Two altcoins,
Bitcoin Cash (BCH) and Ethereum
Classic (ETC), have seen more
impressive growth, however, surging 11.3 and 17.5 percent, respectively. The
bull run of Bitcoin Cash may be connected to recent news that crypto company
Mecon Cash has integrated it into the latter’s M.Pay payments platform that
boasts over 13,000 ATMs in South Korea, according to Bitcoin.com. As for Ethereum
Classic, its growth could be linked to news from CoinDesk last week that
Grayscale ETC Trust (OTC:ETCG) has committed to
donating “one-third of the management fees” to the ETC Cooperative each quarter
through 2021. At press time, the stock for Grayscale ETC Trust itself is up
13.91 percent. Quoted in that article, ETC Cooperative executive director Bob
Summerwill said:
“It is a big vote of confidence which we deeply
appreciate. This funding allows us to continue our support of the ETC protocol
and ecosystem. We will provide grants for key projects, as we have through 2018
and 2019."
Swiss banking and
financial manager giant Julius Baer (OTC:JBAXY) has announced the launch of a
digital assets offering that includes services like secure storage and
transaction solutions. This is the product of the firm’s partnership with
Switzerland-based and FINMA-licensed digital asset bank SEBA Bank AG, which was
announced almost a year ago. According to the news release, Julius Baer “is
able to offer access to a select group of cryptocurrencies, chosen for their
tradability, safety, and technical reliability.” On the day following the news
release, January 22, Julius Baer stock did see a modest uptick of about 2
percent.
DMG Blockchain
Solutions Inc. (OTC:DMGGF) recently revealed that it “has been
engaged to host over 1,000 GPU rigs (approximately 9,000 individual GPUs) for a
GPU client.” The press release distinguishes GPU mining from Bitcoin-oriented
ASIC mining, indicating that “GPUs can be used to mine multiple alternative
cryptocurrencies (i.e. not Bitcoin) depending on the profitability of each one
at any particular time.” Though DMG generally focuses on mining Bitcoin, GPUs
provide additional value in their capacity to be repurposed for High
Performance Computing (HPC). Dan Reitzik, DMG’s CEO, said:
“The Company is exploring ways to capitalize on its
flagship data centre and HPC is a great way for us to start down the road to
augmenting our revenue streams to include non-crypto income.”
DMG’s stock
actually took a dip following this latest news release, but has skyrocketed
this morning with a gain of 25 percent. This may be connected to the general
surge in the wider crypto market discussed above.
And lastly the
World Economic Forum (WEF) announced on Friday (Jan 24)
the formation of a “Global Consortium for Digital Currency Governance.” The aim
of this is to develop “innovative regulatory approaches” and a “set of guiding
principles” “to support public and private actors exploring the opportunities that
digital currencies present.” Klaus Schwab, Founder and Executive Chairman of
the World Economic Forum, commented:
“Digital currency, a cross-cutting topic that requires
input across sectors, functions, and geographies, is a key area of interest for
the Forum. Building on our long history of public-private cooperation, we hope
that hosting this consortium will catalyse the conversations necessary to
inform a robust framework of governance for global digital currencies.”
This will be an
important and interesting story to watch, even as crypto and blockchain
continue to develop and disrupt in the private sector.
Sam
Mowers, Investorideas
For
investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain
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