Cryptocurrency News Cast For Jun 7th 2020 ?

Cryptocurrency News Cast ๐Ÿ“ฎ 07-06-2020

๐Ÿ“ˆMarketCap:                   $270 B
๐Ÿ“Š24h Mcap %:                   -1.16%
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1. Former Chinese Central Bank Executive Praises Bitcoin
The former vice president of the People’s Bank of China, or PBoC, Wu Xiaoling, praised what she calls a “commercial success” for Bitcoin (BTC) on June 5. Wu said that Bitcoin is the most successful commercial application of blockchain technology. Bitcoin as a private currency has its market base, but it is also limited to the private currency field. She stated that cryptos would “increasingly” be integrated into social behavior and that people must have a prudent and objective understanding of it. Read Full on Cointelegraph.

2. Zcash Fully Shielded Transactions Hit All-Time High
Private crypto transactions are slowly but surely becoming popular with the amount of fully-shielded ZCash (ZEC) transactions hitting a new monthly all-time high value of 11,218. Data suggests that there has been a sharp increment of private transactions from March 2020. This could be attributed to fears of government surveillance due to the numerous global events that have happened and continue to happen, in 2020. Perhaps this is an indicator that private transactions will be a future feature on all major blockchains. Read Full on ethereumworldnews.

3. Grayscale Accumulated $110 Million Worth of ETH In 2020
While great attention has been paid to the recent enormous accumulation activities of the Grayscale’s Bitcoin Investment Trust, or BIT, the crypto fund manager has also been aggressively growing its Ether (ETH) stash. Coinscrum markets podcast, Grayscale’s director of investor relations, Ray Sharif-Askary, revealed 22% of crypto fund manager Grayscale Investments’ purchases have been Ether throughout 2020 so far, totaling $110 million worth of accumulation. Read Full on cointelegraph.

4. Ripple and XRP Named As Potential Payments Game Changers
The US Consumer Financial Protection Bureau (CFPB) released a final rule that implements a number of consumer remittance protections outlined in the Electronic Fund Transfer Act. Although it’s primarily designed to help regulators enforce the law, the rule also examines the remittance landscape as a whole, and specifically calls out both Ripple and XRP as potentially transformative cross-border payment solutions. CFPB believes Ripple’s payments technologies could give banks enhanced control over the way money moves. Read Full on The Daily Hodl.

5. On-Chain Data Shows Ethereum Usage on Rise in 2020
Ethereum is still down by over 80% from its all-time high, but that hasn't stopped cryptocurrency users from increasingly adopting the asset. Rafael Schultze-Kraft the chief technical officer of blockchain analytics firm Glassnode recently shared the chart that shows that the number of new daily Ethereum addresses with more than one transaction has increased dramatically since the start of the year, reaching levels not seen since 2018. Analysts say that the increasing usage of the Ethereum network is rocket fuel for the cryptocurrency underlying the network, ETH or Ether. Read Full on NewsBTC.

6. Suzhou Is Launching a Blockchain Notary Program
Suzhou wants to implement a blockchain-based pilot program to use real-time notarial tracing functions across the country that aims to help millions of citizens to access legal and government offices via the internet. The network will be called the “Suzhou Notary Chain" to allow the administrative law enforcement unit to use the system for online notarization and will carry out the entire process through shared files on the cloud platform when a dispute occurs. This will guarantee “easy data storage, high security, non-tampering, and traceability. Read Full on Cointelegraph.

7. WazirX CEO: Indian State Government Taking More Interest in Crypto Blockchain ecosystem
Nischal Shetty, founder and CEO at WazirX, an Indian cryptocurrency exchange acquired by Binance, claims that government agencies in the country have begun to take more interest in understanding and even helping to grow the nation’s nascent digital asset and blockchain ecosystem. Shetty pointed out that, he is especially impressed with the direction that the Telangana Government, one of the state in the southern part of india is taking in this sector. Read Full on twitter.

8. IOST Launched NFT Collection Event
IOST, a decentralized enterprise-geared blockchain project has started a year-long Non-Fungible Token Collection event to promote the use of Non-Fungible Token assets. From June 4, 2020, to February 25, 2021, IOST will release 9 highly commemorative official NFT tokens. IOST announced that users who collect all 9 IOST NFT Tokens would win a Mystery Box that includes exciting tangible and intangible goodies from the IOST ecosystem, including, IOST candy, merchandise, physical prizes, staking votes, & offline event tickets. Read Full on medium.

News Source | cryptocrunchapp.com

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