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!
Kris Humphries, a former professional basketball player, has praised Chainlink on Twitter as “the only solution to bring data into smart contracts.”
There are quite a few players in the sports world who have voiced their support for cryptocurrencies in the past year. For example, Russell Okung, offensive tackle for the LA Chargers, has been a prominent Bitcoin bull for some time now. However, we seldom hear about professional athletes throwing their weight behind altcoins. It seems that he has come around to fully supporting the cryptocurrency industry—and he didn’t mince words recently in voicing his support for Chainlink. To read the full article, click here.
As per a longstanding agreement, Stellar’s founder and Ripple’s former co-founder is set to receive another 63M XRP. In 2011, Jed McCaleb founded Ripple. Embroiled in multiple lawsuits, McCaleb has been restricted from selling his entire stash of over 4.7 billion XRP. His stunningly-high holdings have been a constant thorn in Ripple’s side and have also made McCaleb one of the richest individuals in the world. For years now, McCaleb has been receiving XRP on a semi-consistent basis — and it seems like he’s just received a fresh batch of XRP tokens.
According to reports, McCaleb has received another $12.3 million worth of XRP from his settlement. Some 63.7M XRP was transferred to his wallet. To read the full article, click here.
Large withdrawals from exchanges are being recorded today that may offset the potential for a future sell-off. Tracking the movement of whale wallets can often be used as an indicator for general market sentiment. As of today, there have been some large withdrawals from exchanges. To read more about this bitcoin movement away from exchanges, click here.
More people are sending DOGE now than just a month and a half ago, on-chain metrics say. For some strange reason, there’s been an increase in people using DOGE amid this global crisis. For an unknown reason, there has been a steady increase in transactions with DOGE. On Feb. 20, DOGE had some 24,000 daily transactions. That number has risen to 32,400 daily transactions as of April 12. That’s an increase of 35%. To read more, click here.
Bitcoin Cash’s halving event took place last week and, despite a small bump in price, the gains have completely evaporated. Even worse, miners are leaving the ecosystem resulting in a crash of the network’s hashrate. The drop in hashrate for Bitcoin Cash (BCH) has been nothing short of drastic. Since April 6, it has fallen some 60% to lows not seen since April 2019. To read the full article, click here.
Bitcoin SV’s roadmap now requires a password to access it for reasons that are still unclear. If you were interested to read Bitcon SV’s roadmap, you now officially can’t unless you have the key. The roadmap has been password-protected without any clear reason. What do you think about this? You can read the full article by clicking here.
For some reason, Bitfinex longs for Ethereum are dominating. Almost 90% of all margin traders are longing ETH on the exchange. The overwhelming amount of longs for ETH has some speculating that we could see a massive long squeeze shortly—or maybe these traders know something the rest of us don’t. There is confusion over why Bitfinex margin trading is skewing so overwhelmingly towards margin-longs. To read the full analysis, click here.
The recent scheme involving the Duke and Duchess of Sussex has been floating around on the internet and luring in victims. Fake quotes from the royal couple mention a ‘wealth loophole‘ which involves cryptocurrency trading. [Mirror] The claims say that the loophole can ‘transformed anyone into a millionaire within three to four months.’
The scam was promoting a scheme called Bitcoin Evolution, which the endorsement claims is an auto-trading program and the royals’ ‘number one money-maker.’ You can read the full article by clicking here.
A whale has just moved 49,342 BTC, worth $361M, for a measly fee of $0.50. However, some have noticed that identical amounts have been circulating around various wallets recently. A transaction valued at hundreds of millions of dollars has just been processed on Bitcoin’s blockchain. The reasons for the move, however, are unclear. The BTC seems to be cycling through many different wallets almost immediately after it is received. Click here to read more.
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!