Crypto News #03
Yoann Choux – 16 Jun 2020
Revolut gives its clients access to ownership of their cryptocurrency assets.
The Revolut online bank, 17 million users, is changing its policy on cryptocurrency.
For some time, it had already allowed it to expose itself quite easily to the prices of BTC, ETH, BCH, XRP and LTC, but without its customers owning the crypto currency in question, legally, it was Revolut who owned it.
Now Revolut is taking the next step by giving clients ownership of their assets. Very positive news.
Nevertheless, despite the transfer of ownership Revolut will not allow its customers to take the crypto currency out of its system, such as by sending it to a personal wallet, for example.
EOS in the storm
Over the past year, the number of developers on EOS has dropped by 85% and code updates by 94%.
The activity on dapps is down 70%, and only 9% of the dapps in activity on its EOS.
TRON is also experiencing a decline in popularity, with 50% fewer developers and 96% fewer code updates.
In general, these figures are a good analysis of the technological health of a project.
Conversely, projects such as Polkadot, Cosmos, Theta and Cardano are seeing a sharp increase in activity.
JP Morgan changes his mind about Bitcoin?
The JP Morgan Bank, whose CEO has always been a strong critic of Bitcoin, is partly retracing its steps.
According to an analysis published by its services, the coronavirus crisis proved Bitcoin’s resilience and affirmed its role as an asset that will count in the future.
Nevertheless, the study points out that it is an asset that remains correlated with the most speculative markets.
Financial institutions increasingly interested in cryptocurrency
According to Fidelity, 45% of financial institutions in Europe and 27% in the United States hold crypto products or derivatives.
We are talking about pension funds, hedge funds and family offices.
These data were calculated before the Covid crisis19 and may have increased since then.
What are the incomes for post-halving Bitcoin miners?
366.4 million dollars is the income of Bitcoin miners in May, despite the halving on the 11th of the month.
The halving divided their rewards by two, but their income was not too much affected since it was 412.5 million in April.
One of the explanations lies in the transaction fees, which accounted for 8.3% in May compared to 1.5% in April.
A transaction that raises questions
A transaction of 0.55 ETH ($128) took place this week, with a commission of 10688 ETH ($2.6 million USD). We don’t know if it’s a typo.
The miner of the transaction, Sparkpool, explains that he froze the funds while waiting to find out what was going on.
Some community members believe that the transaction is intentional and that the minor is involved.
Turnaround in India?
India is bipolar.
After the central bank authorized commercial banks to provide banking services to start-up cryptos a few weeks ago, the Indian government plans to plan the introduction of a law to ban cryptocurrency.
However, nothing is enforced, and the process would be lengthy if it were to come into force. To be continued.
The New York Times interested in the blockchain
The New York Times is on the blockchainThe aim here is to improve the system for distributing photos on social networks to allow readers to assess the credibility of photos that go through their news feed.
The company Unstoppable launches a blogging platform
After launching an alternative domain management system on the blockchain, the company Unstoppable domains launches today a blog platform.
The data will be fully stored on a blockchain and on IPFS, a decentralized storage system increasingly used by crypto projects.
In fact, the platform in question, dblogs, should be impossible to censor.
Steve Forbes positive on cryptocurrency.
Steve Forbes believes that no matter what obstacles governments put in place, Bitcoin and the blockchain will eventually be massively adopted.
However, Steve Forbes does not fail to point out certain characteristics that he considers to be flaws, such as:
– The high volatility of cryptocurrencies
– He thinks Satoshi Nakamoto made a mistake in imposing the 21 million Bitcoin limit…
You can find his interview for the Center for Natural and Artificial Intelligence available on Youtube by clicking here.
Nexus Mutual, a smart contracts company, generates enthusiasm
In three months, the smart contract insurance company Nexus Mutual has seen its risk management funds double to $4 million.
The company believes that this craze is due to the upcoming arrival of Ethereum 2.0 and the growing need of investors to protect themselves from the risks associated with emerging technologies.
Bitcoin valued at $106.3 billion, its all-time high
Bitcoin’s realized market capitalization reached its highest level ever.
This analysis method was developed by the Coinmetrics teams.
It designs the capitalization of Bitcoin by aggregating the price of each unit of Bitcoin to its valuation at its last movement.
This takes into account, among other things, the millions of bitcoins that were lost in the early years.
According to this metric, Bitcoin is worth $106.3 billion today, up from $84 billion a year ago.
Record number of “inactive” Bitcoins waiting for a new upward momentum?
The number of “inactive” bitcoins is also at its highest.
60.3% of bitcoins in circulation have not moved for at least a year.
This is a positive sign that the market is optimistic, expecting further bullish momentum.
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