Bitcoin topped $34,000 for the first time this weekend and has since seen a double-digital correction in price. The cryptocurrency’s most recent rally came as the Bitcoin network celebrated its 12th Genesis Block day, on Jan. 3 – the anniversary of when the first bitcoin block was mined in 2009.
Top shelf
CBDC experiment
Ukraine plans to launch a digital version of its hryvnia currency on the Stellar blockchain. This is the latest in a series of projects projects from European governmental and institutional players that have sided with Stellar, including a euro stablecoin effort and a tokenized bond pilot from one of the world’s oldest banks.
Red envelopes
Shenzhen is doubling the amount of digital yuan residents can win in a lottery (up to 200 yuan) meant to test its novel, government-backed payments system. The Digital Currency Electronic Payments (DCEP) platform is the most advanced and visible CBDC experiment to date.
Imminent launch
An Ethereum layer 2 scaling solution expects to mainnet on Jan. 15 (The Block). Edan Yago, a Bitcoin developer, argued in a recent op-ed that the rise of off-chain scaling solutions may portent the demise of alternative tokens.
Quick bites
- MATURITY MINING: Blockchain platform Telos has launched non-fungible tokens (NFTs) called “T-Bonds” that mimic U.S. Treasury bonds. The idea is to allow cryptocurrency projects to sell tokens that are locked until maturity.
- DELISTING, DERISKING: Bittrex will delist monero, dash and zcash in the latest swing against “privacy coins.”
- VENTURE GROWTH: Crypto venture funding grew 32.5% to $5.7 million in 2020, according to The Block.
- BTC AT 12: Forkast gives a rundown of bitcoin’s “three lives.”
At stake
Open interest
Bitcoin climbed from around $19,000 to over $30,000 in the last four weeks of 2020 – a meteoric rise that several industry observers think is likely to continue. Yesterday, the cryptocurrency set a new high of $34,347 before hitting a “much-needed reset.”
The Blockgeni Editorial Team tracks the latest developments across artificial intelligence, blockchain, machine learning and data engineering. Our editors monitor hundreds of sources daily to surface the most relevant news, research and tutorials for developers, investors and tech professionals. Blockgeni is part of the SKILL BLOCK Group of Companies.
More articles
