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Cryptocurrency News Cast For May 21st 2020 ?

Image Source | Pixabay.Com

๐Ÿ“ฎ 21-05-2020

๐Ÿ“ˆMarketCap:                  $248 B
๐Ÿ“Š24h Mcap %:                 -6.24%
⚠️Bitcoin Dom:                 66.50%

๐Ÿ“ŒActive Coins:                 3,119
๐Ÿ“24h Vol %:                      0.59%
๐Ÿ’ฒ24h Vol:                         $121 B

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1. Ethereum's Topaz Testnet Hits 1 Million ETH Milestone
An Ethereum testnet running a version of the Ethereum 2.0 upgrade has hit a big milestone. Topaz, the testnet run by Prysmatic Labs, now has 29,300 validators staking more than 1 million ETH. If that was real Ethereum, it would be worth $214 million. Preston Van Loon, CEO of Prysmatic Labs told, "We are delighted to see the amount of community support and activity on Topaz. This is the first large scale ETH2 testnet where the community controls a majority of the validators." Read Full on Decrypt

2. Amazon, IBM Urges US Military To Utilize Blockchian
The U.S. Department of Defense can’t afford to lose the global military blockchain race to Russia and China, warns a new white paper by Amazon Web Services, IBM, Deloitte and others. The report highlights, the two superpowers that pose the greatest threat to the U.S. are both heavily investing in both the research and development of blockchain technology and U.S. needs to similarly bootstrap its blockchain and DLT warfighter readiness, and it stands to benefit as soon as it does. Read Full on coindesk.

3. 50 Bitcoin Mined in 2009 Moves For The First Time
Almost 50 Bitcoin have just moved for the first time since it was mined way back in 2009, causing some to speculate that Satoshi Nakamoto has returned. Back then, the Bitcoin network was very small, and its pseudonymous creator Satoshi Nakamoto was one of just a handful of active miners. Yep, that’s old Bitcoin, but it’s hard to prove this is really Nakamoto. It’s important to note that there’s currently no direct proof linking the mysteriously absent Nakamoto — who some believe still sits on roughly 1 million BTC — to this transaction. Read Full on Twitter.

4. France Central Bank Completes First Successful Test Of Digital Euro
The French central bank Banque de France has announced the first successful test of a digital euro operational on a blockchain. The bank says it tested a sale of securities for central bank digital currency (CBDC) on May 14, signalling the beginning of more robust testing. The current pilot program is focusing on wholesale rather than retail uses for a digital euro. A wholesale CBDC would be the province of banks and institutional players as the French central bank says. Read Full on cointelegraph.

5. Max Keiser: Bitcoin Mining Is the Most Green Industry in the World
Prominent trader and Bitcoin permabull Max Keiser stated that all the allegations regarding Bitcoin mining damaging the environment are false. Many Bitcoin critics say that Bitcoin mining consumes a great amount of electricity, thus harming the environment. Max Keiser reckons that BTC mining is actually quite environment-friendly since miners prefer to work in the regions with the lowest prices on power. He said, 70-75% of the energy used to mine bitcoin is renewable energy, which makes it the most green industry in the world. Read Full on U.Today.

6. People Are Removing the Most Bitcoin From Exchanges Since 2018 Bottom
Exchange reserves hit an 18-month bottom while miners keep selling despite lower revenues after the halving. Compiled by monitoring resource CryptoQuant, the figures show that over the past five days, combined outflows from BTC mining pools spiked 600% — from 1,066 BTC to 7,426 BTC on May 20. Total exchange holdings fell dramatically on March 12 during Bitcoin’s crash but kept falling as the price recovered. As of Wednesday, reserves across 17 major exchanges totaled 1.18 million BTC — the lowest value since November 2018. Read Full on cointelegraph.

7. CashApp and Grayscale Now Have 50% of all New Bitcoin Mined in Q1
Two major firms that deal in crypto assets, Square's CashApp and Grayscale, bought up a combined amount of Bitcoin equivalent to more than half of all Bitcoin mined in the first quarter of 2020. Combined, they have bought up approximately 85,000 Bitcoin, worth $695 million. During the same time period, 163,800 Bitcoin was mined. This is over double the amount bought in the fourth quarter of 2019, when the equivalent of 23.14% of all Bitcoin mined went to the two firms. Read Full on twitter.

8. Coldplay's Bassist Invested In Crypto Payment App
Scottish fintech Zumo, which is aiming to bring cryptocurrencies to the masses with a new mobile wallet and payments app, counts Coldplay bassist Guy Berryman among its investors. Zumo’s app and wallet, which launched today, allow users to send and spend crypto and other currencies anywhere in the world. Notably, it also gives users control of their private keys, unlike many rival wallets. Users don’t need a bank account to use Zumo. The platform already allows users to trade and hold Bitcoin and Ethereum. Read Full on Decrypt.

News Source | cryptocrunchapp.com

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