Cryptocurrency News Cast For Jun 1st 2020 ?

Cryptocurrency News Cast 
๐Ÿ“ฎ 01-06-2020

๐Ÿ“ˆMarketCap:                  $270 B
๐Ÿ“Š24h Mcap %:                   0.80%
⚠️Bitcoin Dom:                 65.20%

๐Ÿ“ŒActive Coins:                 3,152
๐Ÿ“24h Vol %:                      -2.49%
๐Ÿ’ฒ24h Vol:                           $98 B

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1. Art Piece Titled “I Can’t Breathe” Sold For ETH
Crypto artist sold his “I Can’t Breathe” art piece for crypto on a blockchain-backed social network. Osinachi, a self-taught Nigerian digital and crypto artist, has sold his latest “I Can’t Breathe” digital art piece on May 31 for 7 Etherum (ETH), about $1,703 at press time on a blockchain art social network site SuperRare. Osinachi’s piece reflects on the violence that unravelled in an American city of Mediapolis, and was sold in less than six hours at an auction. According to the artist, part of the proceeds will go to a notable cause. Read Full on cointelegraph

2. Total Value Locked In DeFi Is Almost Back To $1 Billion
In the wake of March’s crypto crash, the value locked in DeFi applications crashed to $500 million from well over a billion. However according to data shared by data site DeFi Pulse, decentralized finance has since recovered. There is now $953 million worth of crypto assets locked into DeFi applications, according to the site. This is up nearly 100% from the March lows. Top three on the list that includes Maker, Synthetix, and Compound that are all based on Ethereum now hold approximately $750 million worth of assets. Read Full on NewsBTC.

3. Russia's Central Bank Is Building Blockchain-Based Platform
The Central Bank of Russia is reportedly developing a digital mortgage platform powered by a domestically developed blockchain called Masterchain. According to Olga Skorobogatova, first deputy governor at the central bank, Masterchain has recently started to support digital mortgages, which forms a foundation for the upcoming platform. The financial institution has already submitted the proposal for its digital mortgage project to the government and the Federal Service for State Registration, Cadastre and Cartography. Read Full on cointelegraph.

4. Max Keiser: Nothing Is Better Than Bitcoin
Even still, there remain thousands of projects promising to be the “next BTC”. One of the earliest Bitcoin bulls Max Keiser told, these projects have no intrinsic value. Speaking in a recent interview with London Real, he explained that there is “no coin out there that can do something that Bitcoin doesn’t do already or will be able to do shortly.” He added, Bitcoin’s security, with a majority of the hash power and the majority of the crypto market share, also makes it a better bet than altcoins. Read Full on twitter.

5. Bullish Investors on Ethereum Starts Accumulating Again
After underperforming Bitcoin for weeks, Ethereum saw a healthy rally this week that saw it reach $245 on Saturday — the highest price since early March. Top VC Garry Tan, a Microsoft employee turned early executive of $20 billion startup Palantir and the earliest investor in Coinbase has been made clear that he "Started accumulating $ETH again", adding that he is doing so for the “long term hold” rather than short-term trading due to taxes. Also, he has continually been “stacking sats” as well. Read Full on CryptoSlate.

6. Monetary Instability Will Lead Bitcoin To Replace Gold
As the world turns more digital, crypto's pioneer asset Bitcoin (BTC) could take on gold's store of value role, according to the Mike Alfred, CEO and co-founder of analytics firm, Digital Assets Data. He told, the most compelling use case continues to be in emerging markets where monetary instability and inflation makes it extremely risky to save in the local currency. Venezuela, for example, was hit hard by inflation in recent years. Bitcoin, however, found greater popularity in the middle of such cash troubles. Read Full on cointelegraph.

7. Bitcoin's Stock-to-Flow Model Signals a New Bitcoin Bull Run
Bitcoin is about to enter a new bull market, according to its stock-to-flow model. In a celebratory tweet, anonymous Bitcoin analyst PlanB has just noticed that Bitcoin’s stock-to-flow model has managed to print its first red dot in three years. Those who firmly believe in the accuracy of the controversial model can, however, treat it as the official start of another glorious Bitcoin bull run. Based on Bitcoin’s historic price action, PlanB expects the largest cryptocurrency to reach the make-it-or-break level of $100,000 by December 2021. Read Full on twitter.

8. Report: India Will Witness Massive Crypto Adoption In Next Two years
Cryptocurrency spot and derivative exchange OKEx in collaboration with Coinpaprika studied the Indian cryptocurrency markets and estimated that the global share of cryptocurrency transactions in India will increase significantly in the next two years. India’s growing demand for crypto will be driven by the need for lower remittance fees and a more stable currency to store value. As per report Indians working beyond the borders sent more than $80 billion back home in 2018 and paid as much as $5.67 billion as transaction fees. Read Full on cointelegraph

9. Drop In Oil Prices Give Bitcoin Miners A Competitive and Profitable Edge: Antonopoulos
Bitcoin educator Andreas Antonopoulos sees the recent downturn in oil prices will cause cheaper electricity worldwide because the United States gets 36% of its energy from petroleum. Andreas said, "One of the biggest new Bitmain mining operations opened in the United States in the state of Texas and it probably had a lot to do with the fact that the U.S. had 12,000 barrels per day. Therefore, there may be really good opportunities for cheap power, which would suddenly make U.S.-based miners much, much more competitive, and profitable. Read Full on youtube.

News Source | cryptocrunchapp.com

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