Looking back at last week’s biggest news, including price analyses for BTC, ETH, and XRP.

Volatility in traditional markets is starting to feel awfully familiar to crypto traders, particularly following the $6T US stimulus announcement. Research from the Block last week showed a startling correlation for an uncorrelated asset, re-igniting the “age-old” debate, is Bitcoin a safe haven asset?

Meanwhile, it’s important not to forget there is a very human toll to the current instability both digital and traditional markets are experiencing. The global coronavirus pandemic continues to wreak havoc in Europe, while many speculate the US is underprepared and China underreported. The term hodl has never been more appropriate.

Below is our weekly roundup of industry and coin specific news. If you’d like to get in touch with us about any of our products or services, we look forward to hearing from you. Just send us a note.

Telegram loses latest round with the SEC; Kik begins the next

• The SEC secured a victory in its latest legal round against instant messaging Telegram on Tuesday, with the judge deciding that Telegram had sold unregistered securities.

• Meanwhile, Canadian messaging platform Kik continued its battle against the SEC, denying the regulator’s accusations of multiple infractions of securities regulations.

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Microsoft files patent for new cryptocurrency and mining system

• Microsoft has made perhaps the most bizarre entrance to the crypto space by publishing a patent titled ‘Cryptocurrency system using body activity data’. The innovative cryptocurrency mining system would leverage simple human activities, eliminating the need for specialised mining machines that consume lots of electricity.

• According to Microsoft, even body heat or brain waves could be enough to mine the cryptocurrency. At this stage, details are scant so it remains to be seen when Microsoft intends on bringing this idea to life.

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CFTC Issues digital asset guidance

• Last week, the US Commodity Futures Trading Commission (CFTC) published its final and long-awaited interpretive guidance regarding retail commodity transactions that involve digital assets. The regulator shared a 35-page document clarifying that physical delivery will involve 28 days which means that the buyer can utilise their bought virtual assets after the expiry of this period.

• The publication comes following several years of public input from exchanges and other stakeholders.

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Latest Coin News

BTC

• Price Analysis: Bitcoin price explores the levels under $6,000 after failing to break above $7,000 resistance zone or hold above $6,200 support

• Tether becomes second crypto to launch on blockchain futures platform

• BitMEX research unveils who funds Bitcoin network development 

ETH

• Price analysis: Ethereum price fell victim to increased selling activities over the weekend session

• Vitalik proposes solution to ‘embarrassing’ lack of Bitcoin-Ethereum bridge

• Ethereum 2.0 audit show possible flaw

XRP

• Price Analysis: Bulls strongly defend $0.1600 support as a reversal ensues towards $0.18 resistance zone 

• Santander and Ripple launching blockchain-powered payment service in Mexico 

• Singapore grants crypto license exemptions to Ripple, Coinbase and Binance

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