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What Moved Global Markets
– Coronavirus update: The number of new coronavirus deaths on the Chinese mainland hit 811 by the end of Feb. 8, the National Health Commission said on Sunday morning, surpassing that of the SARS epidemic in 2002/2003. All levels of China’s government have allocated a total of 71.85 billion yuan ($10.26 billion) to fight the fast-spreading coronavirus, which has now killed more than 800 people and infected more than 37,000, the country’s finance ministry said Sunday.
The funds will reportedly go toward helping citizens afford treatment, a statement on the finance’s ministry’s website said. Chinese health officials have warned of medical equipment shortages as hospitals in the country come under heavy strain and face resources constraints amid the mounting volume of cases.
– U.K. health authorities announced the country’s fourth confirmed case of coronavirus Sunday, said to have been contracted from another British citizen sickened with the disease in France.
– Factories in China have been closed for an extended Lunar New Year holiday and are expected to re-open on Feb. 10. The date is being closely watched because Chinese manufacturing is critical to the electronics industry. Given travel restrictions and potential supply chain problems, products scheduled for the holiday season months away are at risk of being delayed as well, experts said.
Crypto Prices (from CoinMarketCap)
Bitcoin: Up 1.75% to $10,109.13
Total trading volume (24h): $36.82+ billion USD
Ethereum: Up 0.55% to $227.45
Total trading volume (24h): $15.27+ billion USD
3 biggest movers 24 hours
Biggest Mover 1: Bitex Global XBX Coin (XBX) is up 103.29% to $0.002023
Biggest Mover 2: BitcoinX (BCX) is up 96.76% to $0.002857
Biggest Loser: Bazooka Token (BAZ) is down 44.81% to $0.046042
What moved Crypto Markets (i.e. digital assets)
– Meanwhile, Bitcoin price has reached $10K. Interestingly, there is no crucial jump or “ToTheMoon” rapid move – the price has been growing quite steadily since the beginning of the year. Anthony Pompliano, co-founder & partner at Morgan Creek Digital believes that Bitcoin’s price can hit $100,000 at the end of 2021 due to limited supply and increased demand. The government of Australia released a national blockchain roadmap to help drive the adoption of the technology in the country. The 52-page roadmap, issued by the government’s Department of Industry, has noted that blockchain has the potential to create jobs, save companies money and improve Australia’s economic growth.
– In a wide-ranging ask-me-anything session on Feb. 7, Binance CEO Changpeng Zhao announced big plans for the cryptocurrency exchange in 2020. One of the most imminent and least explained was the hinted arrival of a new product called Binance Cloud, which will reportedly be unveiled in the next 10 days. Exactly what Binance Cloud might entail was not explained, as Zhao remained tight-lipped during the AMA.
Other Specialties
Fintech: Insurance firms in China use blockchain to manage coronavirus-related claims amid the outbreak. English-language local news outlet South China Morning Post reported on Feb. 9 that this month Chinese online mutual aid platform Xiang Hu Bao added the coronavirus to the illnesses eligible for the maximum one-time payout of around $14,300 (100,000 yuan).
Healthtech: A new survey polling thousands of international office workers suggests that two in five will opt to search their symptoms online and self-medicate rather than visit a doctor, with the same amount admitting that doing so makes them more nervous about seeking care from a professional. On the flip side, a similar portion of respondents (43%) said they would investigate their condition online and then see a practitioner.
AI: AI is coming for journalism. But rather than simply being used to take jobs from writers, Reuters has now shown that it can enhance the scale and personalization of news in ways previously unimaginable. Today, it has announced a prototype for a world first: a fully automated, yet presenter-led sports news summary system. Developed in collaboration with London-based AI startup Synthesia, the new system harnesses AI in order to synthesize pre-recorded footage of a news presenter into entirely new reports. It works in a similar way to deepfake videos, although its current prototype combines with incoming data on English Premier League football matches to report on things that have actually happened.
Smart cities: Smart Columbus launched two self-driving electric shuttles this week in the Linden neighbourhood of Columbus, OH, as part of what’s said to be the country’s first self-driving shuttle service in a residential area. The Linden LEAP service is a one-year pilot that will be free and open to the public.
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