Overview of the top news in the cryptocurrency industry over the past few days (03.06-04.06)

Overview of the top news in the cryptocurrency industry over the past few days (03.06-04.06)

1. At night, from Sunday to Monday, Bitcoin has fallen below $ 8,000, and traditionally pulling the entire cryptocurrency market with it. The average decrease in the segment is 7-10%.


One of the probable reason of the negative trend is the large transaction of the first cryptocurrency to the American exchange Coinbase. It is about 25,160 BTC ($ 213 million at the rate at the time of the operation). It is assumed that this amount was transferred for liquidation, which provoked a redistribution of supply and demand in a negative direction.

However, the user with the nickname Pyridox108 notes that this transaction was carried out by the exchange itself, so there is no question of any manipulation.

 

2. Binance is testing a new stablecoin on the Binance Chain blockchain. The token will be tied to the British pound and receive the appropriate name-$ BGBP.

Although there is no any official announcements yet, Changpeng Zhao tweeted the information and noted:

«This is just testing. We released 200 pound tokens».

 

3. Another stablebcoin was released on the blockchain «Binance Chain» -USDS.B. It is a token of the BEP2 standard and a variation of USDS-linked stablecoin, which was created by Stably at the end of last year.

The differences of this tool are in the mechanism of issuing new coins. If in similar projects it is produced as the demand for the asset increases, then Stably immediately created and froze 90 billion USDS.B, which users will defrost in exchange for tokens on the Ethereum blockchain.

 

4. There is one more stablecoin UDSK from OKLink -a subsidiary of the cryptocurrency exchange OKEx. UDSK will be tied to the US dollar. For this, a partnership agreement was concluded with the US custodial service Prime Trust.

 

5. LocalBitcoins removed the function of carrying out operations with cash. Many users took this news in a negative way, because it was the main option, which set the service apart from the rest.

«I will search for alternatives. There are the commission is significantly lower on bisq.network or hodlhodl.com than LBC has. I see no reason to stay here» Brokenmusic writes.

The platform itself later commented on the news, recognizing that the company doesn`t this step.

«We recognize that many cannot use other services than exchanging cash. But LocalBitcoins is located in Finland and must fulfill the obligations prescribed in the law «On the identification and prevention of money laundering and terrorist financing». We had to revise the policy of local cash transactions- representatives of LocalBitcoins write. «We apologize to those users who were adversely affected by such measures».

 

6. Bitfinex plans to launch an over-the-counter platform based on Ethfinex Trustless decentralized platform.

Trade will be conducted by tokens standard ERC-20. Transaction fees will be charged at 0.2%. There will be no restrictions. Any ERC-20 standard token can be exchanged, even those which are not on the main platform of Ethfinex.

 

7. Justin Sun, the general director of the cryptocurrency project Tron, won the dinner with Warren Buffett, the billionaire and the famous opponent of Bitcoin for $ 4.57 million. The money will go to charity. The meeting will take place in the Smith & Wollensky restaurant in New York. Several blockchain industry leaders will be invited together with Justin.

 

8. It became known, that the social network Facebook is negotiating with the Commodity Futures Trading Commission of the USA (CFTC) about launching its own digital currency. As it was noted by the head of CFTC, Christopher Giancarlo, the discussion is «in its initial stages». The regulator wants to find out if the Facebook project gets into its area of authority.

 

9. Meanwhile, Esther Pearce, SEC Commissioner, has criticized the US Securities and Exchange Commission’s excessive caution regarding the creation of a Bitcoin ETF.

«They are overly focused on ETFs and thus stifle the development of the industry. They are like children» she said.

 

10. Apple will present cryptographic tools for developers at the Worldwide Developers Conference (WWDC) 2019, which will be held on June 5th.

The toolbox is called «CryptoKit» and will be added along with iOS 13. This toolkit is aimed primarily at developers who can use it to create more security functionality for applications with better support.

 

11. BitMEX announced that it will use Liquid Sidechain by Blockstream to reduce the load on the pool of unconfirmed Bitcoin transactions.

BitMEX representatives noted that the exchanges exert a strong pressure on the first cryptocurrency mempool, so the company began testing several solutions to this problem.

 

12. The Japanese bar has started to cooperate with local crypto-startup «Nayuta» for opening the possibility to pay for drinks by BTC through the Lightning Network.

Here is how payments carry out:

 

13. The amount of futures contracts for Bitcoin is growing rapidly and has got a new record. According to the CME, dated May 28, the total amount of unimplemented Bitcoin futures contracts exceeded 5,000. Thus, the rate has increased by 7%.


14. Analysts from Delphi Digital company conducted a study and found out, that the first cryptocurrency is the most profitable asset this year. Only in May, the rate has increased by 60%.

«An interesting fact is that Bitcoin is growing at the time when traditional assets are under pressure from sellers» the researchers write.

In addition, they noted that at the moment investors are leaving risky assets due to the uncertainty associated with the US-Chinese trade war. However, they didn`t eliminate Bitcoin.
«Of course, it is still premature to sum up the year, but it’s obvious that the first cryptocurrency doesn’t correlate with other assets at all» Delphi Digital analysts write.

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1. At night, from Sunday to Monday, Bitcoin has fallen below $ 8,000, and traditionally pulling the entire cryptocurrency market with it. The average decrease in the segment is 7-10%.


One of the probable reason of the negative trend is the large transaction of the first cryptocurrency to the American exchange Coinbase. It is about 25,160 BTC ($ 213 million at the rate at the time of the operation). It is assumed that this amount was transferred for liquidation, which provoked a redistribution of supply and demand in a negative direction.

However, the user with the nickname Pyridox108 notes that this transaction was carried out by the exchange itself, so there is no question of any manipulation.

 

2. Binance is testing a new stablecoin on the Binance Chain blockchain. The token will be tied to the British pound and receive the appropriate name-$ BGBP.

Although there is no any official announcements yet, Changpeng Zhao tweeted the information and noted:

«This is just testing. We released 200 pound tokens».

 

3. Another stablebcoin was released on the blockchain «Binance Chain» -USDS.B. It is a token of the BEP2 standard and a variation of USDS-linked stablecoin, which was created by Stably at the end of last year.

The differences of this tool are in the mechanism of issuing new coins. If in similar projects it is produced as the demand for the asset increases, then Stably immediately created and froze 90 billion USDS.B, which users will defrost in exchange for tokens on the Ethereum blockchain.

 

4. There is one more stablecoin UDSK from OKLink -a subsidiary of the cryptocurrency exchange OKEx. UDSK will be tied to the US dollar. For this, a partnership agreement was concluded with the US custodial service Prime Trust.

 

5. LocalBitcoins removed the function of carrying out operations with cash. Many users took this news in a negative way, because it was the main option, which set the service apart from the rest.

«I will search for alternatives. There are the commission is significantly lower on bisq.network or hodlhodl.com than LBC has. I see no reason to stay here» Brokenmusic writes.

The platform itself later commented on the news, recognizing that the company doesn`t this step.

«We recognize that many cannot use other services than exchanging cash. But LocalBitcoins is located in Finland and must fulfill the obligations prescribed in the law «On the identification and prevention of money laundering and terrorist financing». We had to revise the policy of local cash transactions- representatives of LocalBitcoins write. «We apologize to those users who were adversely affected by such measures».

 

6. Bitfinex plans to launch an over-the-counter platform based on Ethfinex Trustless decentralized platform.

Trade will be conducted by tokens standard ERC-20. Transaction fees will be charged at 0.2%. There will be no restrictions. Any ERC-20 standard token can be exchanged, even those which are not on the main platform of Ethfinex.

 

7. Justin Sun, the general director of the cryptocurrency project Tron, won the dinner with Warren Buffett, the billionaire and the famous opponent of Bitcoin for $ 4.57 million. The money will go to charity. The meeting will take place in the Smith & Wollensky restaurant in New York. Several blockchain industry leaders will be invited together with Justin.

 

8. It became known, that the social network Facebook is negotiating with the Commodity Futures Trading Commission of the USA (CFTC) about launching its own digital currency. As it was noted by the head of CFTC, Christopher Giancarlo, the discussion is «in its initial stages». The regulator wants to find out if the Facebook project gets into its area of authority.

 

9. Meanwhile, Esther Pearce, SEC Commissioner, has criticized the US Securities and Exchange Commission’s excessive caution regarding the creation of a Bitcoin ETF.

«They are overly focused on ETFs and thus stifle the development of the industry. They are like children» she said.

 

10. Apple will present cryptographic tools for developers at the Worldwide Developers Conference (WWDC) 2019, which will be held on June 5th.

The toolbox is called «CryptoKit» and will be added along with iOS 13. This toolkit is aimed primarily at developers who can use it to create more security functionality for applications with better support.

 

11. BitMEX announced that it will use Liquid Sidechain by Blockstream to reduce the load on the pool of unconfirmed Bitcoin transactions.

BitMEX representatives noted that the exchanges exert a strong pressure on the first cryptocurrency mempool, so the company began testing several solutions to this problem.

 

12. The Japanese bar has started to cooperate with local crypto-startup «Nayuta» for opening the possibility to pay for drinks by BTC through the Lightning Network.

Here is how payments carry out:

 

13. The amount of futures contracts for Bitcoin is growing rapidly and has got a new record. According to the CME, dated May 28, the total amount of unimplemented Bitcoin futures contracts exceeded 5,000. Thus, the rate has increased by 7%.


14. Analysts from Delphi Digital company conducted a study and found out, that the first cryptocurrency is the most profitable asset this year. Only in May, the rate has increased by 60%.

«An interesting fact is that Bitcoin is growing at the time when traditional assets are under pressure from sellers» the researchers write.

In addition, they noted that at the moment investors are leaving risky assets due to the uncertainty associated with the US-Chinese trade war. However, they didn`t eliminate Bitcoin.
«Of course, it is still premature to sum up the year, but it’s obvious that the first cryptocurrency doesn’t correlate with other assets at all» Delphi Digital analysts write.

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