A Short brief of the main cryptocurrency industry news from 01.05-02.05

A Short brief of the main cryptocurrency industry news from 01.05-02.05

1. Dave Ramsden, deputy Governor of the Central Bank of the United Kingdom, said that cryptocurrency cannot be valuable because it is too volatile. Committee on Financial Policy of Great Britain (FPC) made similar statements a year ago. Ramsden only noted, that today the bank`s attitude to this issue has not changed. FPC also added, that cryptocurrencies cannot be used as a tool of exchange, because transaction costs are too high.

 

2. Harris Poll conducted a survey on behalf of Blockchain Capital and found out that 89% of Americans have heard of Bitcoin. In 2017, the rate was 77%, so, despite on the fall of the cryptomarket, the popularity of a new class of digital assets is steadily raising.

 

3. According to another study, which was provided by the research company DataLight, there are the greatest number of cryptocurrency traders in the United States. The basis was taken by the traffic of the 100 most popular cryptoexchanges. The number of entries to these sites from America is 22 million. By the way, Japan ranks second with 6 million entries, which is almost for 4 times less. Surprisingly, Russia takes the third place and there are more than 3 million users.

It should be noted, that there is no China in the rating. This is due to the prohibition of the authorities of China about the trade in cryptocurrency.
Among other countries, the number of traders in digital currencies are Turkey, Ukraine and Mexico.

 

4. In the meantime, the Value Walk news site also conducted a study and found out that 46.7% of users prefer to invest in Bitcoin, rather than other cryptocurrencies. As part of the campaign, respondents answered a few questions, one of which was: «What is your favorite coin?». 46.7% chose Bitcoin, 31.4% chose Ethereum and 21% chose Ripple.

Answering the question «What exchange do you use?»71.3% of survey participants answered that they prefer Binance. Coinbase is on second place, for which 15.5% of respondents voted and the top three are closed by Bittrex – 13.2%.

76% of people answered the question «Has the cryptocurrency winter ended?, that it will come to an end this year.

 

5. Research company Diar reported, that the amount of transactions in the network of the first cryptocurrency is steadily raising. The indicator has already reached the values of April 2017. The researchers argue that, most likely, this is not due to the raise of bitcoin in real life. Trading and speculative coins movement remain the driving force.

Nevertheless, analysts are optimistic about the pricing of the first cryptocurrency, noting that the cryptocurrency market is gradually emerging from the downward cycle.

 

6. CipherTrace conducted a study about losses in the cryptocurrency industry and made a conclusion that a total of $ 1.2 billion was stolen due to fraud and hacking in the first quarter of 2019. This is 71% of the losses for the entire 2018 year. $ 356 million was lost due to hacking and the closure of cryptoexchange, including $ 190 million that the QuadrigaCX exchange`s director general took with him.

This statistic also includes the loss of Bitfinex for $ 850 million. However,it should be noted, that at the moment there is no information if money is lost or it is really frozen, as representatives of the exchange state.

«These thefts are only those that everyone knows about. However, in fact, the number is much higher» noted in CipherTrace.

Researchers believe that this practice is possible due to the lack of proper regulation of the entire industry.

 

7. The TrustToken company, which is the issuer of TrueUSD stablecoin, has announced plans to release a new stablecoin-TrueCAD, which would be tied to the Canadian dollar in a ratio of 1: 1.
TrueCAD is already the fourth stablecoin of the company. Before that, they created TrueUSD, TrueGBP and TrueAUD, which are provided with the corresponding fiat currency.

 

8. The popular service CoinMarketCap, which tracks the cost of cryptocurrency and cryptoexchange activity, has formed an alliance to combat the falsification of market data. It is reported, that at the moment there are already such companies as Binance, Bittrex, OKEx, Huobi, Liquid, Upbit, KuCoin, HitBTC, Gate.io, OceanEx and Bitfinex.

All exchanges, which are listed on CoinMarketCap, will have to provide their trade data and order book to the service. There are given 45 days period for this, otherwise the companies will be removed from the rating.

 

9. It seems that rumors about the creation of the Bitfinex exchange own coin are not rumors at all. Some local Chinese cryptocurrency exchanges began to listing of the futures to Bitfinex tokens, which will go on sale next week, according to preliminary information. Ziyi Zhang, the head of business development Neutral Project, state this.

She says that the proceedings regarding the lost $ 850 million of Bitfinex will be delayed for a long time, so the company has to go to the previously proposed plan and raise $ 1 billion by selling its own token.

Traders expecting, when Bitfinex returns their frozen funds, they will burn some of their new asset issue.

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1. Dave Ramsden, deputy Governor of the Central Bank of the United Kingdom, said that cryptocurrency cannot be valuable because it is too volatile. Committee on Financial Policy of Great Britain (FPC) made similar statements a year ago. Ramsden only noted, that today the bank`s attitude to this issue has not changed. FPC also added, that cryptocurrencies cannot be used as a tool of exchange, because transaction costs are too high.

 

2. Harris Poll conducted a survey on behalf of Blockchain Capital and found out that 89% of Americans have heard of Bitcoin. In 2017, the rate was 77%, so, despite on the fall of the cryptomarket, the popularity of a new class of digital assets is steadily raising.

 

3. According to another study, which was provided by the research company DataLight, there are the greatest number of cryptocurrency traders in the United States. The basis was taken by the traffic of the 100 most popular cryptoexchanges. The number of entries to these sites from America is 22 million. By the way, Japan ranks second with 6 million entries, which is almost for 4 times less. Surprisingly, Russia takes the third place and there are more than 3 million users.

It should be noted, that there is no China in the rating. This is due to the prohibition of the authorities of China about the trade in cryptocurrency.
Among other countries, the number of traders in digital currencies are Turkey, Ukraine and Mexico.

 

4. In the meantime, the Value Walk news site also conducted a study and found out that 46.7% of users prefer to invest in Bitcoin, rather than other cryptocurrencies. As part of the campaign, respondents answered a few questions, one of which was: «What is your favorite coin?». 46.7% chose Bitcoin, 31.4% chose Ethereum and 21% chose Ripple.

Answering the question «What exchange do you use?»71.3% of survey participants answered that they prefer Binance. Coinbase is on second place, for which 15.5% of respondents voted and the top three are closed by Bittrex – 13.2%.

76% of people answered the question «Has the cryptocurrency winter ended?, that it will come to an end this year.

 

5. Research company Diar reported, that the amount of transactions in the network of the first cryptocurrency is steadily raising. The indicator has already reached the values of April 2017. The researchers argue that, most likely, this is not due to the raise of bitcoin in real life. Trading and speculative coins movement remain the driving force.

Nevertheless, analysts are optimistic about the pricing of the first cryptocurrency, noting that the cryptocurrency market is gradually emerging from the downward cycle.

 

6. CipherTrace conducted a study about losses in the cryptocurrency industry and made a conclusion that a total of $ 1.2 billion was stolen due to fraud and hacking in the first quarter of 2019. This is 71% of the losses for the entire 2018 year. $ 356 million was lost due to hacking and the closure of cryptoexchange, including $ 190 million that the QuadrigaCX exchange`s director general took with him.

This statistic also includes the loss of Bitfinex for $ 850 million. However,it should be noted, that at the moment there is no information if money is lost or it is really frozen, as representatives of the exchange state.

«These thefts are only those that everyone knows about. However, in fact, the number is much higher» noted in CipherTrace.

Researchers believe that this practice is possible due to the lack of proper regulation of the entire industry.

 

7. The TrustToken company, which is the issuer of TrueUSD stablecoin, has announced plans to release a new stablecoin-TrueCAD, which would be tied to the Canadian dollar in a ratio of 1: 1.
TrueCAD is already the fourth stablecoin of the company. Before that, they created TrueUSD, TrueGBP and TrueAUD, which are provided with the corresponding fiat currency.

 

8. The popular service CoinMarketCap, which tracks the cost of cryptocurrency and cryptoexchange activity, has formed an alliance to combat the falsification of market data. It is reported, that at the moment there are already such companies as Binance, Bittrex, OKEx, Huobi, Liquid, Upbit, KuCoin, HitBTC, Gate.io, OceanEx and Bitfinex.

All exchanges, which are listed on CoinMarketCap, will have to provide their trade data and order book to the service. There are given 45 days period for this, otherwise the companies will be removed from the rating.

 

9. It seems that rumors about the creation of the Bitfinex exchange own coin are not rumors at all. Some local Chinese cryptocurrency exchanges began to listing of the futures to Bitfinex tokens, which will go on sale next week, according to preliminary information. Ziyi Zhang, the head of business development Neutral Project, state this.

She says that the proceedings regarding the lost $ 850 million of Bitfinex will be delayed for a long time, so the company has to go to the previously proposed plan and raise $ 1 billion by selling its own token.

Traders expecting, when Bitfinex returns their frozen funds, they will burn some of their new asset issue.

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