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Huobi published his report for the week from November 11 to November 18 and is marked by a decline in the prices of digital goods. The report also focused on several other issues, including the industrial application of blockchain technology, the use of cryptocurrencies by risky personalities, the ability to pay taxes using cryptocurrencies and the use of of blockchain technology in the elections. The 25-page report also touched on how the cryptic community interacted on social media.
Market and technical statistics
Most of the digital resources recorded decrease in price. The market capitalization of the first 100 projects fell by 13.98% during the week to $ 175.8 billion. HC recorded the biggest drop of 36.69 percent and was relegated to 100th place. Nine projects entered the top 100 list with FCT increasing by 86.75 percent and claiming 71st place. Other new arrivals include SRN, ODE, DGTX, ELA, BOS, PAY, INB and THETA.
Beginning November 18, Bitcoin was trading at $ 5,563.68, 13.16 percent less than last week's price. Ethereum suffered the same fate as when it collapsed by 19.15% over the same period to trade for $ 170.80. Due to the fall in prices, Ethereum has been overtaken by Ripple's XRP as the second cryptocurrency in the world by market capitalization.
The first 10 cryptocurrencies, which accounted for approximately 86% of the entire cap market, fell by 13.39% from the previous week to $ 157.06 billion. Bitcoin's dominance in the market rose 0.7 percent from the previous week to reach 52.94 percent.
Bitcoin hashrate has increased while that of Ethereum has decreased. The difficulty of Bitcoin extraction remained relatively stable compared to the previous week and that of Ethereum increased by 0.66%. The first 5 Bitcoin mining pools – BTC.com, Slushpool, AntPool, F2Pool and, ViaBTC – accounted for 60.8% of all Bitcoins drawn during the week.
Bitcoin, Ripple and Ethereum, the first 3 cryptocurrencies for market capitalization were the most popular digital resources on Facebook and Twitter.
Weekly news of Blockchain
The West Virginia state reported that the first blockchain vote for foreign-based military personnel in 24 countries in the mid-US elections was a success.
Mac Warner, the Secretary of State of the United States of West Virginia said:
"This is a first project in the country that has allowed members of the services in uniform and foreign citizens to use a mobile application for the launch of a vote guaranteed by blockchain technology".
Yet, with the elections, the Democratic Party, the main opposition party in Thailand has become the first major political party in the world to "carry out primary elections entirely on the blockchain".
The Committee of Finance of the Canadian Chamber has discussed the regulation of cryptocurrency in an attempt to curb money laundering. Cryptocurrencies are anonymous and difficult to trace, making them the preferred choice for some criminal actors. According to iPolitics, criptovalute "I have a history of being used by risky personalities like Edward Snowden and Julian Assange."
The Singapore Monetary Authority, the Bank of England and the Bank of Canada have issued a joint report "It has identified the digital currencies of the central bank as one of the solutions that can be implemented to solve the challenges encountered when making cross-border payments".
Among the peaks in the prices of digital goods, Switzerland has become the first country in the world to launch an exchange-traded product (ETP) that tracks more cryptocurrencies.
The Advisory Council of the Internal Revenue Service believes that taxpayers should be allowed to pay their taxes in cryptocurrencies and this could help "agency strengthens its collection application".
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