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Cryptocurrency News Cast For May 24th 2020 ?

Image Source | Pixabay.Com

๐Ÿ“ฎ 24-05-2020

๐Ÿ“ˆMarketCap:                  $250 B
๐Ÿ“Š24h Mcap %:                  -2.56%
⚠️Bitcoin Dom:                 65.80%

๐Ÿ“ŒActive Coins:                 3,120
๐Ÿ“24h Vol %:                     -3.56%
๐Ÿ’ฒ24h Vol:                          $101 B

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1. Number Of USDT Addresses Are On Surge
Tether, the cryptocurrency market’s top stablecoin use, is growing at an accelerating rate. According to data reported by glassnode, 1850 new addresses holding USDT are being recorded every hour on the ethereum Blockchain. In total, the number of addresses holding USDT is up ten times since late January. Tether’s market capitalization has also exploded in the past few weeks. Just a week ago, the stablecoin surpassed the $9 billion mark and is now the third-largest cryptocurrency. Read Full on twitter.

2. 70,000 Bitcoin are Now Private with CoinJoin in Only 1 Month
A privacy strategy known as CoinJoin has been used to make roughly 70,000 Bitcoin private this month alone. Bitcoin mixers that use the CoinJoin technique, such as Wasabi and Samurai Wallet, have seen a huge growth in recent months, according to Wasabi contributor Max Hillebrand. While the total number is impressive, “Fresh Bitcoins CoinJoined,” or coins that were mixed for the first time, are also on the rise again after peaking last year. “The more peers use CoinJoin, the higher the anonymity set,” he said. “Thus the higher the overall privacy.” Read Full on Decrypt.

3. Ontology to Accelerate Supply Chain Identity Solutions
Ontology recently partnered with German digital identity and cloud wallet provider, Spherity, to collaborate on expediting development on digital identity solutions for products and enterprises. The partnership will see Spherity’s Cloud-Edge wallet integrate with Ontology’s (ONT) blockchain, and allow Ontology to use Spheriy’s Decentralized Digital Identity solutions. They will work together on creating proof-of-concept pilots demonstrating applications for digital identity within the context of supply chain, mobility, and pharmaceuticals. Read Full on cointelegraph.

4. Ethereum Addresses With Over 100 ETH Hits New All-Time High
According to the latest report by ‘Glassnode’, the number of ETH holders with more than 100 Ethereum coins has now reached 47,722 which is a new ATH. It’s important to note that the number of holders with more than 100 Ethereum coins has been increasing since 2016 with barely any downside. In fact, from 2017-18 after the massive bull run, that took Ethereum up to $1,400 the number of holders has increased tremendously from only around 17,000 to 45,000 in early 2019. Read Full on twitter.

5. Investments in Grayscale Bitcoin Trust Grow 10x Year-Over-Year
Grayscale Investment’s flagship Bitcoin Trust fund has seen a ten-fold increase in assets under management year-over-year. The average weekly investment in Q1 2019 was just $3.2 million, compared to nearly $30 million this year. The growth has allegedly been the result of the arrival of ‘institutional money.‘ Long considered the future hope of Bitcoin and cryptocurrencies, large-scale institutional investors would bring massive investment into the space. Interestingly, the $30 million figure represents more than half of all Bitcoin mined each week now. Read Full on Twitter.

6. New Amazon Prime documentary shows how Bitcoin is changing Africa
Africa is a perfect proving ground for Bitcoin, according to a documentary and companion report. The documentary, shot by Tamarin Gerriety, for award winning South African production house Documinute, launches on Amazon Prime on Friday. It explores how Bitcoin pioneers in Southern Africa are surmounting the widespread challenges on the continent—poor infrastructure, mismanaged economies, high remittance fees, and widespread poverty—with crypto. Read Full on Decrypt.

7. Tim Draper: Bitcoin Is Going to Transform Banking
Tim Draper says that Bitcoin, a frictionless and transparent cryptocurrency, has the potential to change the nature of banking. He told, if the government decides to uncontrollably print tons of dollars, your wealth held in BTC won’t be affected by this inflationary explosion, thus making political forces less intrusive. He further added, Bitcoin allows individuals to easily move money from one country to another, it doesn't matter where you are in the world, if you had BTC, you can pull down your Bitcoin and start your life again. Read Full on youtube.

8. Ethereum Holds Four Times More Bitcoin Than Lightning Network
Ethereum may well turn out to be the second layer of bitcoin after a considerable spike recently. That’s because the amount of Wrapped Bitcoin (WBTC) on Ethereum that allows users to make bitcoin-based transactions on a ETH blockchain has suddenly jumped some 4 fold, from about 1,000 bitcoins to now near 4,000. That is significantly more than on the Lightning Network (LN), which for years has been promoted as bitcoin’s solution to scalability, where just about 900 BTC ($8.4 million) is stored. Read Full on Trustnodes.

News Source | cryptocrunchapp.com


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