🗞 Daily Crypto News, December, 11th💰

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(Edited)

  • Tezos Rally Fizzles After 100% Gain — Likely Top for XTZ/BTC Appears ;
  • MakerDAO Responds to Dev Accusing Network of $340M Vulnerabilty ;
  • China’s SEC May Soon Have a Crypto-Savvy Department Chief: Report ;
  • Chinese City Named as Digital Yuan Testbed Launches Blockchain ID ;
  • Crypto 2020: Technology Trends Next Year and Beyond ;
  • 🗞 Daily Crypto News, December, 11th 💰
  • STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 Tezos Rally Fizzles After 100% Gain — Likely Top for XTZ/BTC Appears

Lately, Bitcoin (BTC) price has been trading in a range that favors bears and this has led traders to shift their focus to altcoins.

Interestingly, there has also been some very volatile price action taking place over the past 24-hours, especially with Binance Initial Exchange Offerings (IEOs) like Matic Network (MATIC) which dropped 60% on Dec. 9. This drop led several other Binance IEO’s to dump and a handful of non-IEO altcoins also followed.

However, one of the most active coins lately is Tezos (XTZ), and its recent 100% rally validates the need for a deeper analysis of the asset’s price action.

Tezos rallies 100% over the past six weeks

Tezos was one of the most energetic performers throughout November and the price rallied from $0.735 to a high of $1.64 a few days ago.

🗞 MakerDAO Responds to Dev Accusing Network of $340M Vulnerabilty

The Maker Foundation has announced a series of governance polls aimed at security after software developer Micah Zoltu explained how any hacker with $20 million at their disposal could stage an attack on the MakerDAO network and steal close to $340 million.

In a Dec. 9 blog post, the Maker Foundation interim risk team announced a series of governance polls into its voting system, with one poll asking the Maker community whether the governance security module (GSM) should be upgraded from 0 seconds to 24 hours.

Earlier on Dec. 9, Zoltu had made the claim that it would cost a hacker around $20 million to attack the MakerDAO network and potentially walk away with $340 million worth of Ether (ETH) locked within the MakerDAO. Zoltu said:

“Maker DAO v2 was supposed to launch with safeguards against a hostile MKR holder stealing all collateral and potentially robbing a good chunk of Uniswap, Compound, and other systems integrated with Maker in the process. Instead, they decided not to.”

🗞 China’s SEC May Soon Have a Crypto-Savvy Department Chief: Report

China's securities watchdog is reportedly setting up a technology regulation bureau and may soon appoint Yao Qian, the former head of China's central bank digital currency initiative, as its new department chief.

According to a report from Chinese business publication Caijing on Wednesday, the China Securities Regulatory Commission (CSRC) has announced Yao's appointment on its internal bulletin.

The markets had anticipated Yao's hiring due to his contribution to the development of the People's Bank of China's central bank digital currency (CBDC) and deep understanding of financial technologies, especially blockchain, Caijing said.

🗞 Chinese City Named as Digital Yuan Testbed Launches Blockchain ID

As China gears up for a major blockchain drive, and the expected launch of its digital yuan next year, the city of Shenzhen and one of the country’s biggest banks – China Construction Bank (CCB) – appear to be playing vital roles.
Per news agency Xinhua and media outlet the Global Times, local authorities in Shenzhen have launched a blockchain-powered electronic ID platform compatible with 24 forms of identification and certification. Residents can access the platform via a mobile app, which operators say is “encrypted, traceable and tamper-proof.”

Xinhua states that the app is named iShenzhen, and is compatible with birth certificates, citizen ID cards, proof of address and criminal background records. They also say that its scope will be expanded as of January 2020.

🗞Crypto 2020: Technology Trends Next Year and Beyond

Crypto is ten years old now, but how significantly has its underlying technology changed since its birth? At the most basic and abstract level, things are still fundamentally the same, in that (real) cryptocurrencies still rely on distributed and cryptographically secured consensus networks to confirm transactions.

However, in terms of the specific protocols used in these networks, and in terms of all the technology surrounding this basic layer, things have been steadily evolving since 2009. Tweaks have been made to the original Bitcoin protocol, new cryptocurrencies with new features have been developed, and new second-layer technologies and platforms are being designed to sit on top of existing coins.

2020 will be no different in this regard, bringing technical advancements that help push crypto that bit closer to widespread adoption. And regardless of whether it will be interoperability standards, layer-2 scaling solutions or entirely new virtual currencies, these will all play their role in making the overall crypto ecosystem more attractive to potential users.

🗞 Daily Crypto News, December, 11th 💰

  • Cindicator (CND)

"New horizons of the CND ecosystem," with "More details to be released" at 14:00 UTC.

  • Cosmos (ATOM)

"Cosmonauts, buckle up & get ready for the hub upgrade to the Cosmos Hub 3 chain. A new proposed date is set for Dec 11 at..."

  • Zcash (ZEC)

Blossom is the third network upgrade for Zcash.

  • Waves (WAVES)

'See you in Berlin on December 11, 2019!"

  • BitTorrent (BTT), TRON (TRX)

"On December 11th 00:00 UTC we will initiate our eleventh $BTT airdrop and reward TRON $TRX holders with 990,000,000 #BTT!"

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STEEM Trading Update by my friend @cryptopassion

Here is the chart of my last analysis :

Here is the current chart :

Very nice surprise on the STEEM. The 0.124$ resistance line has been broken by a nice UP break Out, even with a BTC which is correcting. It didn't happen since a long tme than STEEM is making a UP while BTC is correcting. Let's all enjoy the momentum. We are now testing the next resistance line at 0.138$ and with the current volume, we could really break also that second resistance before doing a pause.

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