Crypto This Week: India Cryptocurrency Legalization, Institutional Players Joining In 2019 And More

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INDIA CRYPTOCURRENCY LEGALIZATION

The Indian government might be on their way to legalizing cryptocurrencies, but with strict measures attached. According to an article published on Wednesday by the New Indian Express, an interdisciplinary committee set up by the government in April 2017 to investigate cryptocurrencies, is not in support of an outright crypto ban which was recommended by the committee back in October.

An unnamed official who attended the committee’s meetings stated that they have already had several meetings where they agreed that cryptocurrencies cannot be written off as completely illegal. He went on to say that deliberations are still on regarding the direction to take.

“We have already had two meetings. There is a general consensus that cryptocurrency cannot be dismissed as completely illegal. It needs to be legalized with strong riders. Deliberations are on.”

The second iteration of the group is expected by February 2019 with a new solution to be presented to the country’s finance ministry. It only remains to be seen, if the current situation will change in the next few months.

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MORE INSTITUTIONAL PLAYERS IN 2019

Henri Arslanian, the Asia fintech and crypto leader of PricewaterhouseCoopers (PwC) Hong Kong, has predicted that many institutional players will enter the crypto industry in 2019.

When asked about his thoughts on cryptos for the coming year, Arslanian stated that “there’s a lot of exciting things that the crypto ecosystem is looking forward to in 2019.” He went on to elaborate that he expects the next year to be different from 2018 because of the increasing regulatory clarity. Arslanian also declared that he expects the industry to experience “institutional level expertise which will allow “many more big banks” to enter the crypto space, some by launching their own solutions, others by partnering with or investing in crypto companies.

Announcements have been made by major institutions, backing up Arslanian’s claims. For instance, Nasdaq — the world’s second-largest stock exchange — has confirmed its plans to launch Bitcoin futures in the first half of 2019.

CRYPTO MARKET ANALYSIS

The cryptocurrency market appears to be wounded again, and it continues to bleed. Most cryptocurrencies are struggling to sustain the growths that we witnessed last week. Bitcoin [BTC] – has taken another hit, the world’s largest cryptocurrency has dropped below the $4,000 mark. On the other hand, Ethereum [ETH] slipped by a little on December 25th after growth of 19.26% over the past week. At present time, the third largest cryptocurrency by market cap is down again by 7.54% in the last 24 hrs.

As for the rest of the altcoins are all in the red except for TRON, the 10th largest cryptocurrency by market cap with about 0.92% in the green in the last 24hrs. The general market Market Cap is $127 billion dollars with a 24h Vol of about $15,8 billion while Bitcoin [BTC] still has market dominance of 52.1%.

And this week’s airdrops, Weave and Ternion

Weave (WVR)

Weave is created to promote the latest and greatest VR content to as many people as possible. They created the only completely independent app store within the virtual and augmented reality ecosystem and community. Weave is airdropping up to 100 WVR tokens the equivalence of $ 10 to airdrop participants. The current Token Price is 1 Weave equaling 0.10 USD and will last till 1st January 2019.

How to join Weave airdrop?

1. Register for the Weave airdrop.
2. Join Weave on Telegram.
3. Follow Weave on Twitter.
4. Like Weave on Facebook.
5. Submit your details to the airdrop form.

Ternion (TRN)

Ternion aims to build a reliable bridge to connect modern financial realities with the blockchain-based finance systems of the future, creating a tangible path for innovation crypto finance. Ternion Airdrop is worth up to 2 TRN tokens the equivalence of $ 7 to the first 5.000 participants. Share your referral link to earn 0.2 TRN tokens equivalence of 0.65 USD for every referral. ICO Price is 1 TRN equaling 3.25 USD.

How to join Ternion Airdrop?

1. Go to the Ternion Airdrop form. 
2. Register for the Ternion platform.
3. Join Ternion on Telegram.
4. Follow Ternion on Twitter & Like/Retweet.
5. Follow Ternion on Facebook & Like/Share.

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