Weekly Crypto News Roundup - 19th of May - 26th of May

Weekly Crypto News Roundup - 19th of May - 26th of May

By pheonixdown-dee | Crypto 101 | 26 May 2020


Every week, I will be collecting some news stories / opinion pieces that I have found to be interesting in the crypto world and condensing them down into one easily digestible article. All the article and images are taken from a news source that I like to use and an alternative to CoinTelegram called BeInCrypto

BeInCrypto is a news website founded in August 2018 that specialises in cryptographic technology, privacy, fintech, and the Internet — among other related topics. The primary goal of the website is to inject transparency into an industry rife with disingenuous reporting, unlabelled sponsored articles, and paid news masquerading as honest journalism. You can visit their website by clicking here or join their new Telegram Trading channel by clicking here. I am also part of that group and like the content they are discussing. There is a lot of news that came out last week, So let's get started!

 

Justin Sun Allegedly Fixed His Own Poll with Bots to Win Vote Against ETH 2.0

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TRON founder Justin Sun recently held a poll on Twitter where he asked the question: ‘TRON 4.0 vs. Ethereum 2.0: Which one is better?’ The poll had Ethereum 2.0 widely in the lead with 72.2% of the 20,300 votes cast. However, the results were soon flipped on their head. Hours later, TRON was leading with another 30,000 votes cast seemingly out of nowhere.

Many caught on to what was going on and began to accuse Sun of buying votes to sway the results in his favor. To read the full article, click here.

 

Ethereum Address Usage Has Surged Despite Price Slump

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Ethereum prices are starting to weaken again as Bitcoin fails to break over an important resistance. On-chain metrics and fundamentals for the ETH network are still looking positive, however. On-chain market analysis provider Glassnode has delved into addresses on the Ethereum network, identifying a bullish trend. There are now 40 million ETH addresses holding a piece of the digital asset.

It was also noted that this is an increase of 350% since the Ethereum price peak in early 2018. The metrics are a testament to Ethereum’s network growth, increased adoption, and usage. To read the full article, click here.

 

Tether Treasury Has Issued Over 2.2 Billion USDT on TRON

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The Tether Treasury has been issuing USDT in record numbers for the past few months. Much of this USDT has gone to TRON (TRX) which now has over 2.2 billion USDT on its network.

TRON’s controversial CEO, Justin Sun, recently touted the milestone on Twitter. Tether is now the third-largest cryptocurrency with a market capitalization surpassing Ripple’s XRP. What do you think about this? To read the full article, click here.

 

Bitcoin Cash On-Chain Metrics Continue to Tank Weeks After First Halving

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Bitcoin Cash (BCH) fundamentals are still in decline more than a month after its first block reward halving event. At the time of press, the Bitcoin Cash hash rate stands at 2.38 EH/s. This figure represents a 33.5% decline from the network’s pre-halving hash rate. What do you think about this? Click here to read more.

 

Iranian President Orders Govt to Draw Up a National Crypto Mining Strategy

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In a surprising move, Iranian President Hassan Rouhani wants the government to further explore cryptocurrency mining. Rouhani told officials at the Central Bank of Iran that they needed to create a national strategy for cryptocurrency mining. This includes regulations and estimates for mining revenues. The story was first reported by Iranian news site ArzDigital on Wednesday. 

The story is undoubtedly one of the most direct confirmations that the Iranian government is taking cryptocurrency mining seriously. Last year, Iran made headlines for officially legalizing cryptocurrency mining. To read the full article, click here.

 

Three-Time Olympic Gold Medalist Says She Just Bought Some Bitcoin

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Christie Pearce Rampone, a three-time Olympic gold medalist and two-time World Cup Champion, just told her followers on Twitter that she picked up some Bitcoin. In a recent tweet, she relays to her fans that she had a conversation with the CEO of Binance America, Catherine Coley. Because of that conversation, she was convinced to pick up some of the leading cryptocurrency for the first time. To read the full article, click here.

 

Grayscale Bitcoin Fund Assets Grow 10x Year-Over-Year

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Grayscale Investment’s flagship Bitcoin Trust fund has seen a ten-fold increase in assets under management year-over-year. The average weekly investment in Q1 2019 was just $3.2 million, compared to nearly $30 million this year. What do you think about this? Click here to read more.

 

Bitcoin’s Hash Rate Drops to Lowest Level in 2020

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Bitcoin’s hash rate has continued to plummet weeks after its third halving, now at its lowest level thus far in 2020.

Although Bitcoin’s hashrate temporarily peaked before the halving, it seems that any miners are now getting priced out. With mining rewards dropping by half, many are struggling to keep a profit with Bitcoin still being under the $9,000 price point. Click here to read more.

 

Early Bitcoin Miner Signs Message Calling Craig Wright a Liar and Fraud

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An early Bitcoin (BTC) miner has signed a cryptographic message with 145 wallet addresses containing unspent UTXOs calling Craig S. Wright (CSW) a fraud and a liar.

According to Twitter user @Zectro1, CSW’s claim of being Bitcoin creator Satoshi Nakamoto seems to have suffered another blow with an early BTC miner signing a scathing message with 145 addresses, stating:

“Craig Steven Wright is a liar and a fraud. He doesn’t have the keys used to sign this message.”

To read the full article, click here.

 

That is my weekly roundup of the interesting news coming from the crypto world. What do you think about the topics / news stories and what was your favourite article? If you liked the content, please consider following me and tipping the article. Also are you a trader? If you are check out my favourite Telegram Trading chat, where you can discuss and find out more about crypto projects. Click here to start conversations with other crypto traders!


pheonixdown-dee
pheonixdown-dee

I am a social media manager living in Prague. I am an avid crypto enthusiast.


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