Jens Weidmann, President of the German Federal Bank and member of the Board of the European Central Bank, urged his colleagues to work on developing a cheaper and faster alternative for money transfers in order to prevent the spread of Libra stablecoin. However, he noted that the ECB has no good reason to issue its own digital currency. “I am not a supporter of always appealing to the state immediately. In a market economy, the development of products that meet customer needs is the business of companies” he said in a conversation with the German publication Handelsblatt. Weidman also noted that Libra can gain importance in countries that do not have a stable national currency or a developed payment infrastructure.
The American fintech company Ripple this Friday transferred 900 million XRP to the address of its escrow wallet, according to Whale Alert's Twitter account. On the first day, Ripple received at its disposal another billion XRP ($ 192 million) of the 55 billion blocked in its storage in 2017. What fate awaits the remaining 100 million XRP remaining after these operations, the company did not specify. “2020 Ripple begins with the further release of XRP tokens worth $ 192 million as part of a planned reward scheme. Constant sales of Ripple certainly do not help the price of XRP” Weiss rating agency wrote earlier.
The cryptocurrency mining company Argo Blockchain will install 3,616 Bitmain devices to increase its computing power by 75%. According to the announcement made on Thursday, the new Antminer T17 miners will be put into operation by January 10. These devices are capable of producing 159 petaheches, which is three quarters of the current amount of Argo computing power, the company said. By the end of the first quarter of 2020, Argo intends to install another 6,384 devices and thus increase computing power by 204%.
The air is facing a new wave of sales, as over $ 30 million in ETH have been received on the Huobi crypto exchange over the past seven days. The trader under the nickname CryptoGainz drew attention to this. Altcoin has fallen in price by more than 60% compared with the June figures in 2019, when it jumped to $ 330. The new year 2020 also began for the broadcast with a retreat. Over the past three days, the coin has fallen in price by about 5% to $ 129. At the time of the publication of this material, altcoin's capitalization decreased to $ 14.18 billion. Since the end of last year, an influx of funds has been broadcast on cryptocurrency exchanges. Funds are withdrawn to the exchange for their subsequent implementation, therefore, many experts agree that we are waiting for the preservation of the negative dynamics of the altcoin movement.
Anthony Trenchev, co-founder of the Nexo landing platform, in an interview with Blumberg expressed the opinion that the price of bitcoin can “very easily” reach the $ 50,000 mark this year. According to him, since the advent of the first cryptocurrency, its price has demonstrated patterns unique in its dynamics that cannot be found among other financial instruments. A far more conservative forecast was recently made by Galaxy Digital CEO Mike Novogratz. According to him, the first cryptocurrency will finish 2020 at marks above $ 12,000. We also recall that BitMEX Research experts are confident that this year Bitcoin can reach a maximum of $ 15,000.