Cryptocurrency News Cast For Jun 5th 2020 ?

Cryptocurrency News Cast ๐Ÿ“ฎ 05-06-2020

๐Ÿ“ˆMarketCap:                   $276 B
๐Ÿ“Š24h Mcap %:                   0.79%
⚠️Bitcoin Dom:                  64.80%

๐Ÿ“ŒActive Coins:                 3,163
๐Ÿ“24h Vol %:                      -0.90%
๐Ÿ’ฒ24h Vol:                           $87 B

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1. Bitcoin Trading Growing Rapidly In India
Peer-to-peer Bitcoin (BTC) marketplace Paxful has reported significant increases in Indian trade volume. Paxful CEO Ray Youssef revealed that monthly new user signups have also increased by 28%. The surge in sign-ups from Indian traders has followed the Supreme Court’s reversal of the Reserve Bank of India’s (RBI) ban on banks providing financial services to crypto firms. Indian trade on Paxful has increased by 883% from $2.2 million to $22.1 million when comparing the first five months of 2019 and 2020. Read Full on cointelegraph

2. Bitcoin's Hash Rate Rising Strongly
Despite taking a big hit after Bitcoin completed its third halving back in May, Bitcoin's hash rate is now showing strong signs of recovery. Bitcoin hash rate was slashed by a quarter between May 12 and May 26 as a reward of the recent block reward halving. Currently sitting at around 116.6 TH/s, the Bitcoin hash rate has improved by more than 13.8% in the last 24 hours, continuing a week of solid growth. During this time, the hash rate has climbed up from a low of 90.29 TH/s—equivalent to a gain of more than 29% in a week. Read Full on Decrypt.

3. Walmart Subsidiary Sam’s Club Will Use VeChain to Trace Food Products
Sam’s Club, a China-based subsidiary of Walmart, has partnered with blockchain-based supply chain management platform VeChain (VET) to trace food products sold by the shopping chain. Sam’s Club will utilize a modified version of VeChain’s ToolChain platform to automatically upload data from across the company’s supply chain onto the blockchain. Customers will then be able to access detailed information on the origin of products in-store by scanning QR codes printed on the packaging for Sam’s Club’s goods. Read Full on cointelegraph.

4. Bloomberg: Bitcoin Going On The Major Bull Run In 2020
The latest report from Bloomberg reveals that the company expects Bitcoin (BTC) to retest the record highs from 2017, and may even go as high as $28,000. The report suggests that COVID-19 has accelerated Bitcoin’s maturation as an asset, showing its strength amid declining equities. In addition, it points to the ever-increasing appetite from institutional investors, and Grayscale, or GBTC, in particular, which has been consuming about 25% of the the new supply. Read Full on cointelegraph.

5. Brad Garlinghouse Met With Brazil’s Central Bank President
Ripple is expanding in Brazil, and its efforts in the country are becoming more noticeable. According to the agenda posted to the official website of the Central Bank of Brazil, the bank’’s president, Roberto Campos Neto, met last week with several representatives of the crypto startup behind the third-largest cryptocurrency by market capitalization, including CEO Brad Garlinghouse. Ripple is seemingly aware of Brazil’s stance on crypto and perhaps the potential for the country to act as a catalyst for crypto adoption throughout Latin America. Read Full on Decrypt.

6. Buying Bitcoin Is An Effective Protest Against The “Real Enemy” — Legacy Financial System
Author of the book Bitcoin & Black America Isaiah Jackson says Bitcoin can be an effective protest against financial institutions for those who can’t take to the streets. Isaiah says that people invoking Bitcoin during the protests over the police killing of George Floyd have identified the “real enemy” — a legacy financial system that shuts out African Americans. “Honestly, the perception of Bitcoin in the media has been eerily close to how black people have been perceived,” said Jackson. Read Full on coindesk.

7. Kyrgyzstan's Lawmakers Considering The Bill to Legalize Crypto Mining
Kyrgyzstan’s parliament is deliberating on a tax regime for miners that would be the country’s first regulated framework for crypto activities that seek to increase government revenue by establishing taxation obligations for miners, in addition to establishing clear definitions for ‘virtual assets’ and ‘mining’ within the context of cryptocurrencies. The proposed law would tax miners at a flat rate of 15% of profits generated through the sale of mined crypto assets. Read Full on Cointelegraph.

8. Mark Cuban: Bitcoin Can Be Store of Value
Bitcoin critic Mark Cuban admits BTC can be a store of value. Preston Pysh, the founder of BuffettsBooks.com, has taken to Twitter to discuss the current quantitative easing, UBI and the civil unrest that has turned to mayhem in the US. While saying that Bitcoin is the silver lining in this situation, he gets billionaire Mark Cuban to join the discussion. Further along in the discussion, Cuban admitted that BTC can indeed be a store of value. However, he is doubtful that Bitcoin could replace the current financial system supported by the Fed. Read Full on U.Today.

News Source | cryptocrunchapp.com

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