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Cryptocurrency News Cast For May 22nd 2020 ?

Image Source | Pixabay.Com

๐Ÿ“ฎ 22-05-2020

๐Ÿ“ˆMarketCap:                  $256 B
๐Ÿ“Š24h Mcap %:                  4.29%
⚠️Bitcoin Dom:                 66.00%

๐Ÿ“ŒActive Coins:                 3,120
๐Ÿ“24h Vol %:                      5.86%
๐Ÿ’ฒ24h Vol:                         $112 B

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1. Coinbase Custody Allows Cosmos Staking
Coinbase Custody, the cryptocurrency custodial service designed to store large amounts of cryptos, now supports Cosmos (ATOM) staking. Coinbase Custody says its users will be able to take advantage of its existing offline storage systems to earn rewards through staking activities and vote without having to put their funds at risk. The firm says ATOM holders will be able to specify how much they would like to stake as well as whether to delegate their assets to a third-party validator or Coinbase Custody. Read Full on coinbase.

2. Tyler Winklevoss Expects Governments to Abandon Gold in Favor of Bitcoin
Tyler Winklevoss, the CEO of the Gemini exchange, has just suggested that governments could choose to ditch gold in favor of Bitcoin. The startling prediction made by one of the ‘Bitcoin billionaires’ was related to the news about the Bank of England (BoE) refusing to release Venezuela’s $1 trln worth of gold reserves, which they claims to be needed to fight the deadly virus. Winklevoss apparently believes that Venezuleula’s legal spat with the BoE could make government ‘rethink’ their gold strategies in favor of Bitcoin. Read Full on twitter.

3. Cardano Working On A Microchip To Allow Crypto Transaction Without Internet
Cardano is working on a crypto-native microchip that would enable crypto transitions without the internet access. Charles Hoskinson elaborated on the crypto-native chip that IOHK is working at its blockchain lab at the University of Wyoming that may lead to many groundbreaking use cases, including a cash-like experience for cryptocurrency. Hoskinson stressed that all the work being done on the chip will remain open source and will not only benefit Cardano alone, but rather the entire crypto community. Read Full on cointelegraph.

4. Iranian President Calls for National Crypto Mining Strategy
Iranian President Hassan Rouhani has ordered the government to draw up a renewed national approach for the emerging crypto industry. Rouhani told officials from the Central Bank of Iran (CBI), energy department and information and communication technology ministries that they needed to devise a new national strategy for crypto mining, including regulation and mining revenue. Iran currently has a 4% share in bitcoin’s total hashrate, more than double what it was at the beginning of September 2019. Read Full on CoinDesk.

5. Grayscale Director: Institutional Investors Are Flooding into Crypto at Rapid Rate
The widespread money printing that has come about as a result of the Coronavirus pandemic is eventually leading to massive inflation rates for fiat currencies. Although the crypto market’s participants have long seen digital currencies as a way to escape the impacts of this, it now appears that “smart money” is taking notice as well. According to the managing director for Grayscale Investments Michael Sonnenshein, Family offices, RIAs, hedge funds, and others are flooding into crypto at a rapid rate since the COVID pandemic. Read Full on twitter.

6. Happy Bitcoin Pizza Day: First Time When Bitcoin was Used as a Medium of Exchange
Bitcoin Pizza Day, when the first “real-world purchase” in bitcoin took place in 2010 (10,000 bitcoins for two “supreme” pizzas). The tenth-ever Bitcoin Pizza Day is today: ten years ago, developer Laszlo Hanyecz exchanged 10,000 bitcoins for two pizzas; the toppings are rumoured to have been tomato slices, green peppers, onions, pepperoni, salami, olives, and sausage. At the time, these 10,000 BTC were worth a total sum of $28; today, 10,000 BTC is worth $90.7 million. Read Full on bitcointalk.org.

7. Central Banks Interest In Digital Currency Is Growing
The Official Monetary and Financial Institutions Forum (OMFIF), an independent global think tank for central banking and economic policy, announced the launch of its Digital Monetary Institute earlier this month. The Institute intends to build bridges between the worlds of digital currencies and traditional banking, and has a focus on payment instruments in wholesale and retail markets, and central bank digital currencies (CBDC). OMFIF’s head of fintech research said, there will be more central bank digital currency projects in the next few years. Read Full on cointelegraph.

8. Bitcoin Moved 46,835 BTC for Just $2.50 in Fees
Bitcoin has proved its superiority to the banks as a means of making massive value transactions once again. This time, $400 million worth of the digital currency was transferred for a total fee of just $2.50. The huge transaction was reported earlier today by YouTuber Ivan on Tech via Twitter. Posting a screenshot of a blockchain explorer showing a completed transaction of more than 46,835 BTC (with a fee of ~0.000322 BTC), the cryptocurrency analyst added, Banks are doomed… Read Full on twitter.

News Source | cryptocrunchapp.com

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