Crypto “Reserve Currency,” Tether (USDT) Hits a $10 Billion Market Cap

Weeks ago, NewsBTC reported that the market capitalization of leading crypto stablecoin Tether (USDT) was on track to $10 billion. This week, after a large minting of coins, the milestone was reached. Related Reading: A Hacker Just Drained $500k in Ethereum & Altcoins From a DeFi App Crypto’s “Reserve Currency” Hits $10 Billion Market Cap According to Messari analyst Ryan Watkins, the market capitalization of USDT passed 10 billion on June 30th. It is the third cryptocurrency currently in this 10-figure range.” At the start of the year, the market…

China Highlights Blockchain in Pandemic Preparedness Strategy

Chinese authorities are trying to strengthen their epidemic preparedness and have identified blockchain as a key component of the response.  The Chinese Circular of the National Health Commission released its plan on June 30 on how to ramp up its information technology support amid future pandemics. One component of the strategy is the use of blockchain technology for enhancing data sharing among medical institutions. Data sharing is key  The Commission is urging local health departments to promote data sharing and collaboration between online hospitals and physical medical institutions. It says that…

Bullish Case for Bitcoin Grows as BTC Whale Population Tops 3-Year High

Recently published data from glassnode shows there are currently more than 1,800 Bitcoin (BTC) whales. From a macro perspective, this increase in the number of whales can be considered bullish. The term whale is used within the crypto industry to describe an individual investor that holds a large amount of BTC. Typically, whales are early Bitcoin investors or wealthy individuals that newly enter the cryptocurrency market but as institutional investors enter the market perhaps the boundaries of the term will expand to include new entities. The number of Bitcoin whales…

Bitcoin Dominates Crypto by Brand Recognition, Says FCA Survey

Key Takeaways The UK Financial Conduct Authority (FCA) has published a report on cryptocurrency adoption About 5% of the UK population owns cryptocurrency, and 78% of the population has heard of Bitcoin Bitcoin is the best-known coin. Surprisingly, Libra came in at second among altcoins Share this article By far, Bitcoin has the strongest brand recognition among cryptocurrencies, according to a new report from the UK’s Financial Conduct Authority. The report surveyed over 2,200 consumers and 658 cryptocurrency owners to find out about people’s crypto investment habits. Bitcoin Leads the…

Allegedly Fraudulent Crypto Exchange Shut Down by UK High Court

The UK High Court has appointed the Official Receiver as liquidator of the cryptocurrency trading platform, GPay Ltd. According to an announcement published by the UK Insolvency Service on June 30, the crypto exchange showed signs of being “nothing but a scam”. Fake statements abound The firm, also known previously as XtraderFX and Cryptopoint, advertised its services online and through social media channels. The Insolvency Service claims that the ads falsely alleged the service was endorsed by entrepreneurs who appeared in an unnamed UK primetime TV show and a high-profile…

Survey Shows 42% of Investors Expect a $15K Bitcoin Price in 2020

A survey conducted by major crypto custodian Bitcoin IRA revealed that 42% of the platform’s customers expect Bitcoin’s (BTC) price to exceed $15,000 by the end of 2020. According to a June 29 announcement, Bitcoin IRA surveyed over 300 of its customers who answered their questions on a voluntary basis. A staggering 57% of the respondents also said that they buy and hold cryptocurrency as a long-term investment. Bitcoin IRA has high hopes for Bitcoin Bitcoin IRA’s head of marketing, Mike Schrobo, told Cointelegraph that all respondents were retail investors.…

Investors Defrauded by South Korean Pyramid Scheme

South Korean authorities are investigating a complaint filed by 950 investors who claim to be victims of a crypto-related ponzi scheme. According to TV Chosun, police are looking into reports that over 160 individuals are believed to have operated the alleged scam, known as Futurenet. The Futurenet team is also suspected of stealing almost 20 billion won ($16.66 million) from investors and transferring the money via cryptocurrency. Victims bought using crypto Victims state that they were tricked by buying an “advertising pack” initially using crypto. No ads were ever acquired…

Cardano’s ‘Shelley’ Mainnet to Launch Soon

Cardano (ADA) is upgrading from “Byron” over to “Shelley”. According to an announcement from the project: “We’ve been successfully running node v 1.14.2 on the Shelley public testnet for over a week now. And we can confirm that we’ll deploy the new node to the Cardano mainnet… today, 30th June as per the first date in the rollout plan.” Shelley offers greater decentralization and lays the groundwork for Goguen, which will introduce smart contracts. The Shelley version of Daedalus wallet has been released as well. This story is currently developing.…

3 Reasons Why Bitcoin Price Recorded Its Third Best Q2 Performance Ever

The price of Bitcoin (BTC) recorded its strongest Q2 performance in history following a massive plunge on March 13 when the price dropped below $3,600 before eventually pushing above $10,000 over the next three months. Researchers at Skew said: “Bitcoin is having today its third best quarterly close in its young history.” Quarterly performances of Bitcoin throughout the past 6 years. Source: Skew Three key catalysts that fueled the historic Bitcoin rally from April to June were: the May 11 block reward halving, demand for BTC at a multi-year low…

Iota Enters First Phase to Become ‘Fully Decentralized Network’ by 2021

Iota, a major blockchain project designed for the Internet of Things, or IOT, has entered the first phase in its roadmap for upgrading the network to IOTA 2.0. According to a June 30 blog post, users can now download the new Pollen release in the first fully decentralized IOTA test network. The release is the first phase in Iota’s IOTA 2.0 transition roadmap, released on June 29. In the roadmap, Iota Foundation laid out three phases to reach the so-called “Coordicide”, an event that will envision the permanent removal of…