Coronavirus Stimulus Is More Than Twice Crypto’s All-Time Market Cap High

The U.S government recently unleashed a $2 trillion stimulus package to help Americans offset the economic impact of COVID-19. That figure is more than double the amount of all the speculative capital locked up in the entire cryptocurrency market during its 2018 peak.  Cryptocurrency at large — Bitcoin, Ethereum, Litecoin, and everything else — collectively reached its all-time market cap high in January 2018, totaling $831 billion according to CoinMarketCap data. The U.S. stimulus bill in response to coronavirus is 240% larger by comparison. Righting the economic ship Over the…

Crypto Community Is Keeping Itself Entertained While on Coronavirus Lockdown

Nationwide lockdowns have become commonplace in a number of countries across the world as the global community tries to curb the spread of the novel coronavirus. For weeks on end, people have had to hunker down in their homes and practice social distancing in order to “flatten the curve” of COVID-19’s spread. Setting aside the dire consequences this has had on the global economy, the situation has forced people to come up with a wide variety of ways to entertain themselves. While this lockdown may have brought a new meaning…

Insights from Cryptocurrency Sentiment During Coronavirus Turmoil

The first quarter of 2020 was characterized by market turmoil caused by the coronavirus pandemic. How did cryptocurrency sentiment fare during those tumultuous months? Crypto Sentiment Crypto sentiment ratings have been recently released by trading platform eToro, using data from analytics firm TheTIE. Both short-term and long-term sentiment was measured in their report. Short-term sentiment, or daily sentiment, measured 24-hour investor emotion against the previous 20 days. Long-term sentiment measured 50-day sentiment against 200-day sentiment. Both used the level of positivity or negativity in discussions on Twitter as a gauge.…

Baseline Developers Propose DTL-Based Coronavirus Contact Tracing

Developers working on Baseline, an enterprise smart contract and tokenization platform developed by Microsoft, Ernst & Young, and ConsenSys, are working to solve several flaws identified with Apple and Google’s proposal for coronavirus tracking initiatives. Google and Apple propose a contact tracing solution that would add cross-platform APIs that allow health authorities to monitor users. Both brands have discussed rolling out related software updates next month. The plan suggests using a phone’s Bluetooth Low Energy to detect other devices within 30 feet of each other. This would allow infected individuals…

Coronavirus Pandemic Is Reshaping Blockchain Companies’ Roadmaps

The coronavirus pandemic has been affecting more and more aspects of the blockchain and cryptocurrency market. As Cointelegraph previously reported, more than half of the 2020 crypto conferences were either canceled or postponed due to the COVID-19 outbreak, while mining manufacturers had to stop the equipment production in China. At the same time, other companies have been able to master new opportunities by digitizing business processes and moving employees online. Cointelegraph has analyzed how severe the consequences appeared to be for projects working with blockchain technology and cryptocurrencies, and how…

Coronavirus Crisis Accelerates CBDC Race, Cash No Longer Untouchable

The COVID-19 pandemic is pushing the global economy toward a major recession, but there may be a silver lining in all this for the crypto industry: The accelerated adoption of central bank digital currencies. The use of cash seems to be plunging these days — particularly now, as people are increasingly wary of engaging with potentially germ-infested surfaces. Meanwhile, some central banks are reevaluating their strategies in favor of digital currencies, which they believe may carry more benefits than just stopping the virus from spreading further. So, how likely are…

Economic Recovery Hinges on Coronavirus Antibody Tests: That’s a Big Problem

Coronavirus antibody tests offer a potential way to restart the economy without fully eradicating Covid-19. But questions about their accuracy and viability could throw a wrench in those plans. For now, the only plausible way to return to life as normal is a vaccine– and that’s still years away. The race to reopen the global economy is on. Policymakers around the world are looking for ways to restart business activity and avoid further damage without reigniting coronavirus outbreaks. With the prospect of a vaccine looking unlikely for at least 18…

Fear, Greed and the Evolution of Money in the Age of the Coronavirus Pandemic

The COVID-19 pandemic is not going to end soon. Fear and anxiety have skyrocketed, and nearly half of the people in the United States feel the coronavirus has harmed their mental health. People are scared, anxious, depressed, on edge and struggling to sleep through the night. We watched as China took extreme measures to improve the coronavirus crisis there. We watched as Italy locked down the country and people scurried to other parts of Europe. We then watched as California Governor Gavin Newsom took early measures for the U.S. and…

2.7 Billion Workers Impacted By Coronavirus, But That’s Just the Tip of the Iceberg

A new study from the International Labor Organization reveals the staggering rate of global unemployment. Over 2.7 billion workers are currently unable to work due to the coronavirus crisis. Projected workforce losses are expected to far exceed the 2008-09 financial crisis. According to a new study from the UN’s International Labor Organization (ILO), 2.7 billion people are currently unable to work due to the global pandemic occurring. A total 3.3 billion people are in the workforce, so it’s staggering that 2.7 billion are currently out of employment. That is more…

Wrestlemania Success Despite Coronavirus Shows Vince McMahon Isn’t Crazy After All

For the first time in its history, WWE’s flagship show took place in front of an empty arena. Many believed the show would bomb, and that WWE should follow the example of other sports leagues by shutting down temporarily during the coronavirus pandemic. Reports following the event suggest that Wrestlemania shattered viewership records, and set new records for most social media interactions, proving that Vince McMahon was right all along to press on with the show. One by one, the major sporting leagues around the world fell to the coronavirus…