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Stable week

Feb 18, 2019

There are still 12 cryptocurrencies with a capitalization of more than $1 billion. It is noteworthy that the capitalization of Cardano (ADA) and Bitcoin SV (BSV) already exceeds $ 1.1 billion. While the 13th cryptocurrency Monero (XMR) is far from the 11th and 12th positions of this rating.  Ethereum (ETH) continues сoming forward Ripple (XRP).

ETH capitalization exceeds XRP by more than 13%. Ethereum team are ready to activate Constantinople which led to a strong increase in the price of ETH.

Ethereum is the leader of growth.

Vitalik Buterin, as well as several leading developers of the platform, noted the absence of a serious security threat in a previously identified bug.

The vulnerability was discovered in the function called Create2,  assigned to EIP-1014. It can replace a self-destructed smart contract, simultaneously changing the rules specified in it, which could potentially lead to loss of funds.

“The one thing we need to keep in mind is more for the future, when thinking about rents and deletion; that’s a way that can lead to contracts being in a state to being not in a state without a self-destruct operation […]. It’s not something we need to figure out in the next few weeks, but it’s still useful to keep in mind when getting the ETH 2.0 sharding to a VM spec very soon.” – stresses Buterin.

This statement increases the likelihood that the activation of Constantinople will be carried out in the earlier appointed period. Therefore, this is very good news for investors and speculators, which provoked another wave of ETH growth.

Bitcoin-ETF after 45 days

After 45 days, the US Securities and Exchange Commission (SEC) may approve the application of the NYSE Arca and Bitwise Asset Management to change the rules for listing Bitcoin-ETF. Traders and investors  discreetly react to this information. This reaction may indicate that not many of them believe in the ability of the NYSE Arca and Bitwise Asset Management to get approval. But the fact that so many large participants in the financial market make such attempts increases the likelihood of approval of one of the submitted applications in the medium term.

Approval of one of the applications for creating Bitcoin-ETF can be a strong long-term growth driver for BTC and the cryptocurrency market. However, before the approval of the Bitcoin ETF, the price of BTC may drop significantly. The longer the SEC will consider applications, the greater the risk of seeing the next wave of sales in the cryptocurrency market.

JPMorgan will destroy Ripple

JPM Coin is capable of destroying Ripple, a company that specializes in cross-border payments, says Joe Weizental,  BloombergTV editor.

“If it turns out that the Blockchain/Coin framework turns out to be a good one for banks transferring money around, then the JPM Coin should absolutely obliterate Ripple”, — Joe Weisenthal.

Is it really so?

First of all, we highlight that crypto trader WhalePanda agrees with Joe Weiszental. At the same time, WhalePanda called JPM Coin “useless shitcoin”.

As for the ability of JPM Coin to destroy Ripple, there is no definite answer. On the one hand, Ripple is the third cryptocurrency with a capitalization of $ 12.8 billion, which has vast experience in the crypto industry.

On the other hand, JPMorgan Chase & Co has a capitalization of more than $ 341 billion and vast experience in the banking sector and, accordingly, status and respect among institutional investors. This advantage will allow JPMorgan to create a quality product, to attract significant investments in a limited time frame.

Brad Garlinghouse, the head of Ripple, also reacted to JPMorgan’s plans. He believes that there is no point in cryptocurrencies issued by banks. He wrote that if banks want to make deals with each other, they will have to exchange their unique digital currencies for fiat.

Garlinghouse stresses that this approach is complete nonsense.

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