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BPSAA | Blockchain Privacy, Security & Adoption Alliance

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BPSAA (Blockchain Privacy, Security Adoption Alliance) goes live assembling crypto gurus from multiple projects for the good of cryptomanity. BPSAA aims to bring collaboration through BPSAA verified projects in order to enhance Privacy, Security, Adoption for users in the crypto realm.

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Projects in the Alliance:
Pirate Chain (Most Anonymous Crypto) https://bpsaa.vision/pirate-chain
Turtle Network (Interoperable DEX w/fiat) https://bpsaa.vision/turtlenetwork
Ether-1 (Decentralized Storage) https://bpsaa.vision/ether1
Sentinal (Decentralized VPN) https://bpsaa.vision/sentinel

Source: https://cryptocoremedia.com/bpsaa-blockchain-privacy-security-adoption-alliance/?utm_source=rss&utm_medium=rss&utm_campaign=bpsaa-blockchain-privacy-security-adoption-alliance

Blockchain

Bitcoin’s Core Value Is to Be Rationed, Says the Acting US Comptroller of the Currency

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During his appearance on DC Fintech Week 2020, the Acting Comptroller of the Currency Brian Brooks praised decentralized networks, highlighted the expanding role of cryptocurrencies and the necessary regulations, and hinted that central banks could actually become nodes to blockchain networks.

Brooks On Crypto And Regulation

In Brooks’ opinion, banks have treated cryptocurrency assets as “pawn shops or some other kinds of disfavored businesses that can’t be touched” in the past 4-5 years.

He believes that digital assets are widely misunderstood, and even representatives of the financial world have trouble comprehending their role.

Although Brooks admitted that cryptocurrencies contain a certain amount of risk, he noted that global regulators hadn’t done enough to establish a “safe framework, in which banks will feel comfortable to operate in.”

That’s why the OCC issued a letter recently greenlighting US banks and federal savings associations to hold reserves on behalf of stablecoin issues.

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Some of the risks he mentioned included terrorist financing and money laundering. However, he asserted that the OCC is focused on taking the necessary steps to facilitate the usage and enhance user protection.

Acting Comptroller of the Currency Brian Brooks. Source: CNBC
Acting Comptroller of the Currency Brian Brooks. Source: CNBC

Decentralization Is An Unstoppable Force

Brooks further explained that these measures are mandatory for the cryptocurrency industry to reach mass adoption. He outlined that decentralized assets and networks could benefit the entire financial world because they provide multiple benefits:

“We see a future where decentralization is very likely an unstoppable network out there. Decentralized networks, by definition, are cheaper, faster, and more resilient than any kind of centralized structure.

Now that the technology exists to make that possible, it seems not only good but inevitable that those things will rise.”

He also sees a future in which banks and cryptocurrencies co-exist and work together. Furthermore, he expects that “there’s a future where banks will be directly connected to blockchains where they will see it as a payment network. They will become nodes on that network, along with all other companies that are nodes on that network.”

Not All Cryptos Are Equal

By making an analogy with communications apps on smartphones, Brooks said that various cryptocurrencies serve different roles.

“The thesis for Bitcoin is one day it’s possible that America and Europe will adopt monetary policies that look like Venezuela’s monetary policy, and government-issued currencies will have no value. Because they will be debased. At some point, there will be real inflation in the system.

Bitcoin is not supposed to do anything other than be rationed. That’s its core value.”

On the other hand, stablecoins could enable people from all over the world to send funds without worrying that their value will fluctuate during the transfer.

Featured Image Courtesy Of CNBC

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Source: https://cryptopotato.com/bitcoins-core-value-is-to-be-rationed-says-the-acting-us-comptroller-of-the-currency/

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Blockchain

Kraken Daily Market Report for October 21 2020

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Overview


  • Total spot trading volume at $444.6 million, as Bitcoin crossed the $13000 mark. Bitcoin began a positive streak towards the end of yesterdays session and continued through most of the day.
  • Total futures notional ($270.8 million) also over double its weekly high of $117.3 million.
  • In a day of great returns, Filecoin zagged with -14% returns over USD. Otherwise, it was all positive: Gnosis +25%, Link +10%, Litecoin +13%, and Waves (+8.5%).

October 21, 2020 
 $444.6M traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
XBT 
$12843. 
↑7.7% 
$295.8M
ETH 
$392.11 
↑6.3% 
$70.4M
USDT 
$1.0018 
↑0.08% 
$36.3M
LINK 
$10.843 
↑10% 
$14.3M
LTC 
$53.179 
↑13% 
$7.35M
USDC 
$0.9998 
↓0.02% 
$7.04M
XRP 
$0.2516 
↑3.3% 
$6.63M
BCH 
$259.23 
↑7.6% 
$5.77M
DOT 
$4.1424 
↑6.1% 
$3.77M
XTZ 
$2.1335 
↑3.8% 
$3.25M
ADA 
$0.1063 
↑3.9% 
$3.09M
XMR 
$121.61 
↑2.8% 
$2.83M
FIL 
$26.760 
↓14% 
$2.71M
ZEC 
$63.010 
↑9.0% 
$1.41M
EOS 
$2.6143 
↑3.4% 
$1.36M
XLM 
$0.0838 
↑3.9% 
$1.29M
PAXG 
$1936.8 
↑0.9% 
$1.28M
ATOM 
$5.2439 
↑4.4% 
$1.08M
WAVES 
$3.1144 
↑8.5% 
$941K
TRX 
$0.0267 
↑3.1% 
$754K
YFI 
$13341. 
↑2.1% 
$728K
DAI 
$1.0094 
↑0.05% 
$685K
KAVA 
$1.8657 
↑2.9% 
$651K
BAT 
$0.2156 
↑3.5% 
$639K
GNO 
$61.75 
↑25% 
$579K
OMG 
$3.2733 
↑4.5% 
$568K
DASH 
$75.077 
↑6.2% 
$444K
ALGO 
$0.3022 
↑5.3% 
$354K
QTUM 
$2.2923 
↑6.8% 
$275K
ETC 
$5.6145 
↑2.9% 
$269K
SC 
$0.0027 
↑6.4% 
$263K
OXT 
$0.2344 
↑3.3% 
$255K
MLN 
$18.104 
↑3.9% 
$238K
CRV 
$0.3830 
↑6.7% 
$237K
COMP 
$95.575 
↑0.6% 
$215K
XDG 
$0.0026 
↑1.2% 
$205K
SNX 
$3.5252 
↓4.9% 
$205K
UNI 
$2.9444 
↑3.0% 
$177K
REP 
$13.541 
↑3.2% 
$165K
NANO 
$0.8939 
↑1.5% 
$160K
STORJ 
$0.3838 
↑3.4% 
$154K
KSM 
$27.805 
↓0.09% 
$136K
ICX 
$0.3721 
↑4.9% 
$117K
LSK 
$1.1045 
↑3.1% 
$107K
KNC 
$0.9305 
↑7.8% 
$65.5K
BAL 
$12.232 
↓0.9% 
$39.3K
REPV2 
$13.517 
↑4.0% 
$9.3K



#####################. Trading Volume by Asset. ##########################################

Trading Volume by Asset


The figures below break down the trading volume of the largest, mid-size, and smallest assets. Cryptos are in purple, fiats are in blue. For each asset, the chart contains the daily trading volume in USD, and the percentage of the total trading volume. The percentages for fiats and cryptos are treated separately, so that they both add up to 100%.

Figure 1: Largest trading assets: trading volume (measured in USD) and its percentage of the total trading volume (October 21 2020)



Figure 2: Mid-size trading assets: (measured in USD) (October 21 2020)



Figure 3: Smallest trading assets: (measured in USD) (October 21 2020)



#####################. Spread %. ##########################################

Spread %


Spread percentage is the width of the bid/ask spread divided by the bid/ask midpoint. The values are generated by taking the median spread percentage over each minute, then the average of the medians over the day.

Figure 4: Average spread % by pair (October 21 2020)



.


#########. Returns and Volume ############################################

Returns and Volume


Figure 5: Returns of the four highest volume pairs (October 21 2020)


Figure 6: Volume of the major currencies and an average line that fits the data to a sinusoidal curve to show the daily volume highs and lows (October 21 2020)



###########. Daily Returns. #################################################

Daily Returns %


Figure 7: Returns over USD and XBT. Relative volume and return size is indicated by the size of the font. (October 21 2020)



###########. Disclaimer #################################################

The values generated in this report are from public market data distributed from Kraken WebSockets api. The total volumes and returns are calculated over the reporting day using UTC time.

Source: https://blog.kraken.com/post/6650/kraken-daily-market-report-for-october-21-2020/

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Blockchain

ETH Price Analysis: As Bitcoin Parties, Ethereum Sheds 25% BTC-Wise Since September

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ETH/USD – Bulls Rebound From 2019 Highs.

Key Support Levels: $364, $355, $345.
Key Resistance Levels: $396, $400, $410.

Over the past week, Ethereum was struggling to break above a very short-term falling trend line. The coin dropped into the support at the 2019 Highs around $364 yesterday which allowed it to rebound higher today.

After rebounding, ETH went on to break above resistance at $375.

ethusd-oct21
ETH/USD Daily Chart. Source: TradingView

ETH-USD Short Term Price Prediction

Looking ahead, if the buyers continue to push above $390, the first level of resistance lies at $396 (bearish .5 Fib Retracement & October highs). Following this, resistance lies at $400, $410, and $416 (bearish .618 Fib Retracement).

On the other side, if the sellers push lower, the first level of support is expected at the $364 level (2019 highs). Beneath this, additional support is found at $355, $345 (100-days EMA), and $336.

The RSI rebounded from the mid-line to show the buyers are refusing to give up their control of the market momentum.

ETH/BTC – ETH Penetrates Beneath Consolidation Pattern.

Key Support Levels: 0.03 BTC, 0.0295 BTC, 0.029 BTC.
Key Resistance Levels: 0.0311 BTC, 0.0315 BTC, 0.032 BTC.

Against Bitcoin, Ethereum was trading within a 1.5-month-old consolidation pattern as it ranged between the two boundaries of a symmetrical triangle. Throughout the week, the buyers defended the lower boundary of this triangle, however, with the recent push of Bitcoin above $12,000 the sellers managed to take over and caused to drop beneath the pattern.

After falling beneath ETH continued to plummet until support was found around 0.0307 BTC – provided by a downside 1.618 Fib Extension level.

It’s worth noting that since September 2nd, ETH has lost just shy of 25% against Bitcoin and the last time its value was as low was on August 2nd.

ethbtc-oct21
ETH/BTC Daily Chart. Source: TradingView

ETH-BTC Short Term Price Prediction

Looking ahead, if the sellers continue lower, the first level of support lies at 0.03 BTC. Beneath this, support lies at 0.0295 BTC (200-days EMA), 0.029 BTC, and 0.0284 BTC (Feb 2020 Highs).

On the other side, resistance first lies at 0.0311 BTC. Above this, additional resistance is expected at 0.0315 BTC, 0.032 BTC (100-days EMA), and 0.0327 BTC.

The RSI has plummeted to oversold conditions which could suggest that the market is slightly overextended and should reverse pretty soon.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/eth-price-analysis-as-bitcoin-parties-ethereum-sheds-25-btc-wise-since-september/

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