The cryptocurrency market had quite the shakeup last week, causing a spike in most digital currencies. On Valentine’s Day, six days ago, JP Morgan announced that it would launch a test for its new JPM coin. This was the biggest crypto news to surface in quite some time. Now, digital currencies seem to have corrected, and most are trading red today.
In today’s crypto news, we’ll discuss Elon Musk’s interview and the details behind him calling Bitcoin “quite brilliant.” Also, we’ll look into Binance’s new testnet they just released.
Crypto News: February 20th, 2019
Elon Musk and Bitcoin
The crypto news that’s been receiving the most buzz this morning has to do with Tesla’s CEO Elon Musk. Musk held a podcast interview with advisory services firm ARK Invest’s and called Bitcoin’s structure “quite brilliant.”
The tech entrepreneur believes that digital currency is a far better transfer of value than paper money. In the past, Musk has been pegged as the creator of Bitcoin. With his background, it could be quite possible, but the tech entrepreneur has since shut down those rumors. Shame, considering we still don’t know who Satoshi Nakamoto really is.
In February of last year, Musk tweeted that he owned zero cryptocurrency, which was a surprise to most.
Not sure. I let @jack know, but it’s still going. I literally own zero cryptocurrency, apart from .25 BTC that a friend sent me many years ago.
— Elon Musk (@elonmusk) February 22, 2018
Despite the major boost Bitcoin got from one of the world’s top tech visionaries in today’s crypto news, the digital currency is still trading red.
>> Cryptocurrency Bull Run: An Improving Economy Encourages Gains
Binance Launches Testnet for Decentralized Exchange
Another big piece of crypto news comes from the world’s most used digital cryptocurrency exchange, Binance.
#Binance Chain and the Binance DEX have now entered public Testnet phase at https://t.co/21Ewda56TO
Check out the below links to help you get started:https://t.co/oZ6K9nwxGi https://t.co/XSR8iBx81g https://t.co/iPIoqeTUc8 https://t.co/DRUAMMALcw https://t.co/DYQ27ltEeU pic.twitter.com/zaGrqqxZoY
— Binance DEX (@Binance_DEX) February 20, 2019
The new decentralized cryptocurrency exchange will be called Binance DEX. Per the press release, the exchange will be powered by Binance Chain and is already available for customers. Binance Chain is a new blockchain and peer-to-peer distributed system. Currently, customers are able to create wallets and start exchanging tokens on the new testnet.
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