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Daily Dose: Centralized Crypto?

Bitcoin was able to bounce near $8,400+ level. In the daily, it is evident that there is support near the 10 EMA. Meanwhile, price maintains its sideways structure and is looking to retest its resistance around $9,100. A break of the $9,100 resistance is a possible confirmation of another swing high. Otherwise, price is likely to head down below $8,400 if it fails to break past resistance.

Global market cap is at $241B, while BTC's market cap is at $158B. 

Vodafone, the British telecom giant, has announced its departure from the Libra Association. A company spokesperson confirmed the departure, stating Vodafone's commitment to extending financial inclusion is still intact, but they will now be focusing their efforts on M-Pesa, an African mobile payment option developed by Safaricom.

Vodafone now joins the long list of high profile companies to have departed from the Libra Association, including Visa, PayPal, eBay, Mastercard, Stripe, and Booking Holdings.  

Six major central banks are collaborating to research central bank digital currencies (CBDCs). The central banks of Canada, the United Kingdom Japan, the European Union, Sweden, and Switzerland created a group with the Bank for International Settlements (BIS) to study potential use cases of CBDCs. The group will include senior representatives from the central banks and the BIS.

The official announcement states: "The group will assess CBDC use cases; economic, functional and technical design choices, including cross-border interoperability; and the sharing of knowledge on emerging technologies. It will closely coordinate with the relevant institutions and forums – in particular, the Financial Stability Board and the Committee on Payments and Market Infrastructures (CPMI)." 

Paxos announced a new feature on Tuesday, Jan. 21, 2020 that would allow customers to automatically wire transfer funds from their bank accounts into Paxos Standard or Binance USD stablecoins. Customers will also be able to wire funds automatically to their bank accounts by sending PAX or BUSD to their designated address. 

This Daily Dose is brought to you by our partner SCI News Channel.


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