The turn of the year has already seen dramatic movement in the crypto market. Bitcoin rallied above $4k but wasn’t able to sustain the gain, and a “flash” crash saw its price fall by around $500 in a matter of hours. As usual, the rest of the crypto market followed, with big losses seen in Ethereum, Bitcoin Cash, Stellar and almost all major cryptos.
China to introduce strict Blockchain Regulations
On 15 February China are set to introduce strict regulations for blockchain service providers, who will have to adhere to them if they are to provide blockchain services. China have stated that the regulations are to safeguard national security and public interests.
Ethereum’s (ETH) upcoming Hard Fork
Ethereum is due for another hard fork on January 16 – the much awaited Constantinople upgrade. Unlike Bitcoin’s contentious forks, this will not lead to the creation of new coins/tokens as it is not contested.
The fork/upgrade is set to tackle Ethereum’s rising costs when using the network, and to make smart contracts easier to use.
EOS Tops Blockchain Activity
In the past 24 hours EOS has recorded 38,339,837 operations on its blockchain. Bitcoin has managed 716,866, whilst Ethereum has 476,193 activities. Interestingly enough WAX coin sits in second, a crypto currently in 99th place by market cap is used to buy and sell virtual items. (data taken from blocktivity.info).
EOS, which is seen by many as a competitor to Ethereum, certainly has a large number of users. It is to be seen whether a significant price increase will follow the crypto that came with a lot of hype during its very early stages.
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We are not investment or financial advisors and are here to provide news and our opinions. Please be fully informed regarding the risks and costs associated with trading the financial markets and the Cryptocurrency market, it is one of the riskiest investment forms possible.