🗞 Daily Crypto News, December, 24th💰

E-commerce Giant Rakuten to Let its Customers Swap Points for Crypto;
Chinese Authorities Confiscate Nearly 7,000 Crypto Mining Machines ;
Ethereum Network Draws Developer Ire After Scheduling New Year’s Day Upgrade ;
Bitcoin and Altcoins Reversing Gains With Bearish Angle ;
BitMEX: Crypto IEO ‘Poor Performance’ Sees Investors Lose up to 98% ;
🗞 Daily Crypto News, December, 24th 💰
STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 E-commerce Giant Rakuten to Let its Customers Swap Points for Crypto

Japanese e-commerce giant Rakuten has announced that it will allow customers to exchange their loyalty points for three leading cryptocurrencies.

Per an official statement, details of which were shared by Japanese media outlet Crypto Watch, the business group will let users redeem Rakuten Super Points for Bitcoin, Ethereum and Bitcoin Cash, although they will need to have Rakuten Wallet accounts in order to do so.

Customers will also need to have a minimum of 100 points in their accounts to use the service.

The company has also placed a 100,000 point transaction cap on monthly exchanges, and an individual transaction cap of 30,000.

🗞Chinese Authorities Confiscate Nearly 7,000 Crypto Mining Machines

Chinese authorities have seized nearly 7,000 crypto mining machines, illegally consuming electric power, local news outlet CCTV reported on Dec. 22.

The cryptocurrency mining confiscation came as part of an inspection of more than 70,000 households, 3,061 merchants, 1,470 communities, as well as factories, mines, courtyards and villages in the Kaiping District of Tangshan city. The inspection was carried out by Tangshan police in collaboration with State Electric Power Department and other authorities looking to inspect suspicious electricity use.

During the investigation, which initially started in April last year, the authorities seized 6,890 ASIC miners and 52 high-power transformers. According to the police, crypto miners were stealing electricity from a nearby village. The police also said that Bitcoin (BTC) mining machines were operating 24 hours a day, consuming electricity at rates up to 40 times those of a regular family.

🗞 Ethereum Network Draws Developer Ire After Scheduling New Year’s Day Upgrade

The organization behind ether, the world's second-largest cryptocurrency, is drawing criticism from developers after scheduling an upgrade on New Year's Day – a work holiday in most countries.

The Ethereum Foundation on Monday announced the plan to implement the "Muir Glacier" upgrade on Jan. 1. The upgrade will take place when the ethereum network hits its 9.2-millionth block, said a blog post on the organization's website.

The upgrade would come just less than a month after the network's last upgrade in early December, known as "Istanbul."

🗞 Bitcoin and Altcoins Reversing Gains With Bearish Angle

Bitcoin price is down c. 3% and it is trading below the key USD 7,350 pivot level.
Ethereum is now back below USD 130 and XRP is struggling to stay above USD 0.190.
BCN rallied more than 40% and MAID is up close to 15% today.

Yesterday, we saw a strong upward move in bitcoin price above the USD 7,350 and USD 7,550 resistance levels. However, BTC/USD struggled to gain momentum above USD 7,650 and it is currently (09:00 UTC) correcting lower. The price is trading below the key USD 7,350 pivot level and it is facing an increase in selling pressure.

🗞 BitMEX: Crypto IEO ‘Poor Performance’ Sees Investors Lose up to 98%

Initial exchange offerings (IEOs), which launched in 2019 have lost investors up to 98% of their money, damning new statistics show.

In its latest report on the phenomenon published on Dec. 23, the analytics arm of exchange BitMEX, BitMEX Research, identified twelve major IEOs that launched this year. Of those, eleven are now almost worthless compared to the price at which they first traded on exchanges.

🗞 Daily Crypto News, December, 24th 💰

PCHAIN (PI)

Mainnet V1.2.0 will upgrade on Dec. 24th.

Eden (EDN)

"For 3 days only (12/24-12/26 KST), everyone is a winner at Dorothy! Pick your favorite character and get TEDNs!"

Veros (VRS)

VEROS FP Q1 Roadmap

CoinEx Token (CET), LBRY Credits (LBC)

AMA in CoinEx Telegram from 15:00 - 15:30 (UTC) with LBRY CEO as guest.

Doge Token (DOGET)

"Doge Token (DOGET) will be airdropped to Stellar Lumens (XLM) holders.... Snapshot will be taken on December 25th 2019, 2 PM GMT -5."

STEEM Trading Update by my friend @cryptopassion

Here is the chart of my last analysis :

Here is the current chart :

It looks like it is difficult for the STEEM to stay upper than the support line at 0.138$. It is kinda sad because that line is a major level for the STEEM, as a support but also a resistance level. Let's see if it is not a new little trap to to make weak holder sell their position. It would be nice that the break is invalidated in the coming hours and that we go up again over that line.

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