First week of June, a pretty calm week despite Bitcoin's multiple fluctuations and few interesting news. Right now we are getting closer and closer to the release of Ethereum 2.0 (expected by the end of 2020) which will surely change a lot of things in the cryptocurrency world , it might be the major event of this year (with Bitcoin's halving of course).
Today we are talking about interesting news, facts, statistics and more. Let's dive into it.
1. LG & Samsung are intensifying their cryptocurrency exchanges :
Indeed during recent weeks these big companies have multiply their activities regarding cryptocurrency. Last week it was Samsung who made official the integration of Gemini in their new Galaxy smartphones, which allows these phones to have cryptocurrency exchanges functions available. And after Samsung, it's LG's turn because they recently joined the HBAR's governance council and they also decided to manage a node of the network.
As you might have noticed these partnerships and collaborations between big enterprises and cryptocurrency project are increasing, the reason is that cryptocurrency technology offers new possibilities for these companies in terms of development. It appears that the COVID-19 crisis is accelerating this process, indeed for many investors and developers crypto and its blockchain technology has a lot of potential and stands as a major solution in the future.
2. Statistic now, 4 exchanges share the majority of Bitcoin's volume :
Bitcoin number of exchanges are increasing a lot since the halving a month ago, some people are making a lot of analysis and try to determine some interesting statistics. This week one of these statistics concerned exchange platforms, it appears that 4 of these platforms share about 90% of the total volume. Namely Coinbase, Bitfinex, Kraben and Bitstamp.
What is more interesting about this fact is that this volume is only getting bigger and bigger each day, despite a "small" volume in comparison to the stock market and the forex. This growth seems to follow a sustained pace and some estimate that with this rhythm cryptocurrency could seriously compete with these bigger markets.
3. $1.4 billion in cryptocurrency have already been stolen in 2020 :
I have discussed about this fact earlier in the week, this high number of $1.4 billion stolen in only 5 months reveals that despite the many ways put in place in order to stop these "thefts". The COVID-19 crisis had a lot to do with that, indeed because people were confined at home, hackers also so they had nothing else to do and they unfortunately manage to find new ways to steal these assets.
We are talking about scams hide in emails or messages, the victims were attracted outside the traditional platforms and every time a people tried to trade or buy crypto those assets were unfortunately redirected directly in the hacker wallet. This number reveals that you shouldn't forget that we are never to careful, try to secure your assets by the double authentication factor, stronger passwords, backup phrase and more.
4. Let's finish with a last Bitcoin fact, the mining difficulty dropped again :
It's not a surprise for anyone since the Bitcoin halved last month the least profitable miners decided to stop mining because the reward they now obtain is almost equivalent to the money they paid in electricity to mine. This big departure wave brought down the hashrate of the entire network, as a result the mining difficulty dropped because it has to compensate this decrease.
These adjustments are made every 2016 blocks (around 2 weeks), and during the last two a rare phenom happened, the mining difficulty dropped twice in row, because it last happened in 2018. Even if a third drop occurs during the next adjustment it will normally don't affect the network and Bitcoin's growth won't be weakened, but let's keep an eye on it and see what the future stores for us.