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Ethereum (ETH) Price Inching Closer to $200, Up More Than 15 Percent Since Fred Wilson's Doom-Laden Blog Post

  • Alex Dovbnya
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    Ethereum continues to post green updates with its price moving closer to the $200 mark despite gloomy predictions

Ethereum (ETH) Price Inching Closer to $200, Up More Than 15 Percent Since Fred Wilson's Doom-Laden Blog Post
Cover image via www.forbes.com

Ethereum (ETH), the biggest altcoin by market capitalization, has registered a modest 1.79 percent price increase over the last 24 hours that pushed it closer to the psychologically important $200 mark. At press time, it is sitting at $198.2, according to Coin Stats data.

Top coins by market capitalization
Image by coinstats

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ETH is up by more than 15 percent since American venture capitalist Fred Wilson announced that he had changed his stance on the top altcoin. As reported by U.Today, Wilson, who earlier predicted that Ether’s market cap would surpass that of Bitcoin, acknowledged that Ethereum suffers from scaling issues in his lengthy blog post entitled “Some Thoughts On Crypto.”

While its tempting to assume that these green price updates could be a sign of another alt season, Ethereum’s short-term rival might be attributed to the first-ever Ethereal Summit and the recent BitPay addition.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Nationwide Blockchain of China Finally Preparing for Launch

  •  Denis Sinyavskiy
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    China launching nationwide blockchain service in beta mode until March 2020. It must push forward digital economy and smart cities

Nationwide Blockchain of China Finally Preparing for Launch
Cover image via www.123rf.com

China continues to take steps toward the digital economy and smart cities by officially releasing a nationwide blockchain service network, XINHUANET says.

Blockchain service network expectations

UnionPay, State Information Center (SIC), China Mobile and three other organizations worked on a system that will help China lead the blockchain technology market. Blockchain beta testing has already been announced and will last until March 2020, and all content and services will be available for free till that date.

BSN is expected to accelerate the development of digital technology and smart cities, as well as foster the development of new technology and industries.

What about CBDC?

Earlier, U.Today reported, that China has come close to creating its own cryptocurrency and may even launch it this fall, but then there was information that the national digital currency will appear later.

But China will not become the first country to introduce a national cryptocurrency. The Kingdom of Bhutan has already done it this month, as we already reported.

So, what do you think? Does the launch of China's national blockchain mean that the country will become a leader? Write what you think about this in the comments section!

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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