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Korean Crypto Market Is ‘’Pretty Dead’’: Dovey Wan

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The Korean crypto market seems to be really out of shape since the Korean traders have given up and the crypto volumes are visibly lower over the last few months. The Kimchi premium is now completely gone and the low volumes have started wiping out the markets for multiple altcoins as we are reading further in the altcoin news today.

DoveyWan, the co-founder of PrimitiveCrypto has commented on the outflow of traders and says that this is one of the reasons why the Korean Crypto market is now in a serious state of problems. The Korean markets led by the Bithumb activity, actually led the BTC prices to their absolute peak and the BTC price even reached above $20,000 so the altcoins that showed up on the Korean markets also got a major boost. For some ICO projects, the Korean markets were an important source of price and without trading, the prices lost more than half of their value.

The Korean traders also led Bitcoin Cash (BCH) to a wild rally above the $2,500 which was followed by a deep crash. This even followed by a prolonged bear market for most of the coins, deleted the previous speculative appetite and during the same time, the South Korean exchanges were also under attack by the Lazarus hack group who works under the North Korean regime. The overall altcoin trading remains subdued but the exchanges are now trying to pivot into new sources of earnings. Binance even saw its volumes drop dramatically and the altcoins previously provided a heightened activity. Now the pairs have remained inactive and are calling for delisting.

Dovey Wan also pointed out that the crypto-related charts are now mostly abandoned or have switched to other topics. There is also little hope that obscure coins will skyrocket and the newest observations point that the loss of hope for another altcoin season is present again. However, there is a significant purge of coins happening and most of the assets have no hope of recovery and no liquidity at all. There is some hope for exchanges as the stablecoins still see growing flows between the platforms. The Korean won fiat-on ramp turned out not to be enough and was limited to locals who can open bank accounts in the country.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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Central Bank Of Russia Finished Blockchain Pilot For Tokenized Assets

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The Central Bank of Russia made the announcement in the second half of December that it will test its state-backed cryptocurrency within a regulatory sandbox. It looks like the test is now over and they have been completed as we are reading further in the following crypto news. According to a local report, the Central Bank of Russia has completed its pilot project for the issuance and circulation of “digital rights”. This gives the opportunity to digitize goods, services, securities, and other assets as well. Utilizing the platform, any organization can issue a digital token. According to the report, this will increase the opportunities for business when the question is attracting capital whilst at the same time creates new convenient investment tools for the consumers. Speaking on the subject was Ivan Bank, Director of Financial Technologies, who said:
“This was one of the largest sandbox projects. We studied in detail the new business model and its relevance to market needs. An important detail of the service is the use of hybrid tokens, which make it easy to adapt to the needs of business and consumers and provide flexible solutions to attract investment. Based on the results of the piloting, the Bank of Russia proposed to include in the draft federal law “On Digital Financial Assets” the provisions necessary for the introduction and development of such decisions in the emerging digital assets market, which were supported by government agencies and businesses.”
 According to the report, the blockchain platform will have the ability to begin its activities as soon as the federal law “On Digital Financial Assets” goes into force. Allegedly, this draft bill is already written. DC Forecasts back in December of 2019 that the Central Bank of the Russian Federation is testing cryptocurrencies backed by real assets in a regulatory sandbox. Then, the head of the bank, Elvira Nabiullina, noted:
“First of all, we need to understand what will be the advantages to our citizens, for business, for example, compared to instant payment systems, because the issue of the digital ruble can have serious consequences leading to changes in the structure of the financial market, deposits outflows, and funds redistribution.”
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Namecoin Market Capitalization Reaches $8.61 Million

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The Namecoin market capitalization reached $8.61 million and more than $3,1333.00 worth of the coins were traded on exchanges in the past 24 hours. Namecoin traded 0% against the US dollar during the one day period which ended on February 16th. One namecoin can now be bought for $0.58 or 0.00005686 BTC on a few exchanges including C-Patex, Cryptopia, and WEX. Over the past few days, Namecoin was trading up 2.6% against the dollar and the namecoin market capitalization reached $8.61 million. Namecoin NMC cryptocurrency started trading 14.2 percent lower against the US dollar during the 1-day period and over the past week, Namecoin has traded 15.4 percent lower against the US dollar. Namecoin has a market cap of $7.23 million and about $7,305.00 worth of coins traded on exchanges in the past day as we are reading more in the Namecoin news today. One Namecoin NMC coin can be purchased now for about $0.49 or 0.0000498 BTC on crypto exchanges including Altcoin Trader, Cryptopia, YoBit, and C-Patex. Namecoin NMC is a proof-of-work coin that uses the SHA-256 hashing algorithm and Its genesis date was April 13t, 2011. The total supply of the coin is 14,736,400 coins and the official Twitter account is @namecoin and the Facebook page is extremely accessible. In the recent altcoin news, we can see that, the popular crypto researcher and analyst Willy Woo posted on Twitter about his opinion on the type of altcoins of interest to investors and regardless how nuanced the altcoins are or manifested as protocol coins, utility coins and non-fungible coins, the only two types that have actual relevance to investors as Degenerators and Oscillators. On the other hand, there are only a few Oscillators and one of the most surprising examples of such a coin is Dogecoin (DOGE). The cryptocurrency was made as a joke and is now ranked at number 30 by its market capitalization and is considered as an Oscillator. Woo says that Dogecoin proves the store of value properties and to qualify, the coins have to keep up with Bitcoin/USD gains. In order to find oscillators, the coin has to oscillate around a horizontal line for at least one full bull-bear cycle which is around every four years but more than one cycle is better.
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Crypto Books Are Still Best Sellers On Amazon For 2020

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Despite the fact that there’s still no sign for an Amazon cryptocurrency, crypto books are best sellers for 2020 as we are reading further in the coming altcoin news today. Cryptocurrencies are still a major trend in 2020 and the entire market capitalization once again reached $300 billion which was seen six months ago as well. What is most interesting is that it’s not just the price of Bitcoin that is increasing over time since the altcoins are exploding as well. Of course, when the prices of altcoins increase, it increases the retail interest as well. Crypto books are now again in the mainstream while the Google searches are going up as well. Plenty of bitcoin and crypto books are trading and are reaching Amazon’s best-seller list for 2020. Maybe with the ever-increasing popularity, the online retail giant will consider the amazon cryptocurrency again. Amazon is the largest retailer in the world and it is the biggest marketplace for books and e-books. Writers across the world are using this platform to market their writings and to reach a bigger audience. More than 20 percent of the books are related to bitcoin and cryptocurrency. The author of one of the books, Nik Patel, recently ranked #3 on the list but it is also worth noting that the list is updated every hour but the number of books is still notable. This shows that there’s a lot of interest from retail investors as well. As the prices of crypto increase, the interest in investing in crypto also increases every day. These investors are referred to as retail because they don’t have specific knowledge on the matter and they don’t classify as institutions. As per the recent altcoin news reports, the ‘’buy bitcoin’’ key phrase surged to a new high last seen in June 2019 which is a very important price level because it shows interest in buying Bitcoin rather than learning more about it. Bitcoin searches are also increasing and this is only an indicator that people follow the price of the altcoin. Cryptocurrencies are charting a lot of gains since the start of 2020 and they show no signals of slowing down. Most of the major altcoins received double-digit profits since the start of the year.
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CommerceBlock CBT Reached $4,030 In Daily Trading Volume

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CommerceBlock CBT was trading down for 23.3% against the dollar throughout the 24-hour period that ended at 22:00 PM ET on February the 16th as we are reading more in the commerceblock news today. One CommerceBlock CBT token can be at this time bought for around $0.161 or 0.00000160 Bitcoin (BTC) on exchanges like OKEx, Gatecoin, IDEX, and Mercatox. CommerceBlock has a market capitalization of $2.81 million and about $4,030 of CommerceBlock was traded on exchanges the last one day period. In the last week, CommerceBlock was traded down 20.7% against the US dollar. The date of the launch of CommerceBlock was the 19th of December, 2017. The total supply of CommerceBlock is 743,256,686 tokens and the circulating supply is 174,866,686 coins. The official Twitter account of CommerceBlock is @commerceblock. CommerceBlock’s official website is www.commerceblock.com. The Reddit community for CommerceBlock is /r/CommerceBlock and also Github the currency account can be found here. The official message board of CommerceBlock is blog.commerceblock.com. CommerceBlock can be purchased or sold on certain crypto exchanges like Mercatox, Ethfinex, IDEX, OKEx, and Gatecoin. It is at this time common to be unable to buy alternative digital currency like CommerceBlock with U.S. dollars. Those who want to buy CommercBlock coins should purchase at first Ethereum (ETH) and Bitcoin (BTC) as a proxy, utilizing exchanges that use U.S. dollars like Gemini, Changelly or GDAX. Investors can then sell their newly purchased Ethereum (ETH) or Bitcoin (BTC) coins to purchase CommerceBlock coins utilizing one of the mentioned exchanges. In the other altcoin news, There’s a lot of innovation that is happening with bitcoin right now and Ethereum is still the smart contract standard but the developments are also occurring on the BTC network through the integration of TapScript. Most of the reasons by altcoins keep on getting battered are mainly because of the successes of Bitcoin over the past year. The recent report indicates about 99% of the altcoins listed on analytics websites which show no liquidity were it can be seen as untradeable. In the last 30 days, the Tezos price gained more than four times what Bitcoin added in the same period. Even though the Tezos price positions were unexpected for many, the XTZ cryptocurrency made over 60% in gains and the market determining the most dominant coin (Bitcoin) spiked by 17% against the US dollar.
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