All kinds of things are happening in the crypto sphere all the time. In this article, we will share with you all the latest news about it that matter.
The 1933 gold ban
Back 1933 the U. S. Federal Reserve banned gold. Every citizen who owned coins or bullion had to sell it to the government. Failure to comply meant ten years in jail.
Well, gold is still around. It’s risen by 4000% in value since then.
And this is relevant to crypto because we could see this happening again, only this time in India. The Indian government is trying to get rid of digital assets and, again, if you fail to comply, you’ll do ten years worth of time.
So maybe, a few decades from now we’ll see all kinds of cryptocurrencies back in circulation in India, with a much higher value.
Dogecoin at Binance
Dogecoin was supposed to be a joke of a cryptocurrency. It’s still is. Not because it’s useless or because it doesn’t have an active community behind it but because it’s supposed to be all about the fun of being part of the cryptosphere.
Binance is laughing at the joke now because it just announced that it would list Dogecoin among its assets.
As it usually happens after Binance announces a new listing, Dogecoin’s price is surging.
XRP and use cases
Yet again another cryptocurrency expert went forward and talked about the importance of use cases for cryptocurrencies.
This time it was Michael Devlin who used his Twitter account to explain that digital assets with utility will outperform those who don’t have any.
We couldn’t agree more. The best example is probably Ripple’s XRP. It was, and remains, a coin born with a purpose. It wants to settle once and for all the problem in international payments by eliminating all friction and cutting down costs dramatically.
Other cryptocurrencies with a purpose are Monero having privacy and anonymity, Litecoin is general-purpose coin without all the hassle in Bitcoin, Ethereum, Tron, and EOS have had an objective of creating platforms for digital apps and smart contracts. Those are just a few. But too many digital coins are just generic and bring nothing to the table. Chances are they will disappear in time, while the useful tokens will be still standing.
UK’s Brewdog brewery
Brewdog is a British brewery. They are now selling the stock for Bitcoin, no less.
This is a company with 110.000,00 shareholders right now, and it’s a successful one, so chances are they know what they’re doing.
You can buy 375 shares for 1 Bitcoin at the current prices.
Six of the world’s most influential banks are trying to launch their own cryptocurrency
The banks in question are MUFG, J.P. Morgan, Goldman Sachs, UBS, Mizuho, Signet and a few more are in the list.
Wall Street bankers, as well as the rest of the world’s most influential financial institutions, are realizing there’s value in cryptocurrencies and they’re trying to create their own in other to enter the market and make a buck.
It’s excellent news for the crypto-verse in general. It means that institutional money is about to arrive in loads, and that could be the driving force behind the next crypto summer.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.
Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.