Key facts of the Day 1.06.2018
Main page Digest, Bitcoin, Altcoins, Bitcoin Cash, Ethereum, Central Banks, Blockchain, Dogecoin, Cryptocurrency
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June 1, 2018
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The New Government of Italy to Implement Blockchain

After months of uncertainty, Italian politicians finally managed to form a coalition government. The new leaders plan to radically reform the economy, and implement the blockchain system both in financial transactions and in the state services sector. Giuseppe Conte, the new Prime Minister of Italy, begun selecting l candidates for ministerial posts: among them representatives of the right-wing radical League of the North and the Five Star Movement (M5S), the left populist party. The Movement plans to introduce a distributed register not only in financial transactions, but also in the public sector of the economy. The party hopes that this detachment will help solve the problem of corruption in state services.

Singapore Millionaire Bought the Japanese Cryptoexchange BitTrade

Singapore millionaire and developer Eric Cheng purchased the Japanese company FX Trade Financial, which owns the FX trading platform and BitTrade cryptocurrency exchange. The deal amounted to $67 million. The new owner intends to make the cryptocurrency exchanges the largest in Japan, and also to scale the business around the world. For this, Cheng plans to expand the package of trade options and services, to improve interface, and strengthen security measures.

To Buy or Still To Buy Bitcoin Now

Dan Morehead, CEO of Pantera Capital, a hedge fund worth $1 billion in cryptocurrency, advised to buy Bitcoin now, because he predicts that its price will not become any lower. Due to the large dive in the price of Bitcoin in the first quarter of 2018, there are relatively fewer new cryptocurrency hedge funds launched this year in comparison to 2017. Morehead forecasts the outlook of cryptocurrency markets optimistically and mentions that there are many promising currencies, even as the initial price of Bitcoin (Bitcoin) dropped in the market, it remains quite active. Regarding Altcoins, Morehead complimented on Augur Token as the next big thing built on Ethereum. Augur will go live with its peer-to-peer oracle and prediction platform.

IMF Official Urges Central Banks to Compete with Digital Currencies

Dong He, a deputy director for the International Monetary Fund's (IMF) Monetary and Capital Markets Department, has said that central banks around the world should offer “better” fiat currencies in order to compete with their digital counterparts. Controversially titled "Crypto assets may one day reduce demand for central bank money", the article argues that state-owned banks should do everything to “stay in the game in a digital, sharing and decentralized service economy.” In particular, He believes that central banks may need to adopt some of the concepts in order to “forestall the competitive pressure … exerted on fiat currencies.” He’s words echo those of Christine Lagarde - in March, the IMF director said that regulators should use blockchain technology in order to “fight fire with fire.”

GMO’s New Mobile App Will Award Bitcoins in Games

Japanese GMO Internet Group will launch a new mobile app called “CryptoChips byGMO” which can distribute cryptocurrency as rewards within games. Bitcoin rewards can be earned by completing missions, collecting items, or players rankings. In August 2018, CryptoChips will be added on the real-time territorial battle game “Whimsical War”. To be able to receive rewards in Bitcoin, players must have their own wallets. Whimsical War is categorized as Real Time Strategy and it’s Free to Play. Game can be downloaded for IOS and Android mobile devices.

Dogecoin Twice Outperformed Bitcoin Cash by Transaction Volume

Interestingly enough, the first mention of this was made by the famous crypto enthusiast @Armin van Bitcoin - in response to another praising message regarding Bitcoin Cash of Roger Vera. “Another day, another lie. Bitcoin Cash’s tx volume is half of Dogecoin. No one uses your shitcoin. It's entire volume is from speculative trading from organized groups that pump and dump it to acquire more Bitcoin?”- wrote Armin in his twitter post.

Reddit of the Day

One of the most discussed topics of the day on Reddit became the news that bitcoins started to be accepted in one of the shopping centers of Pakistan.

Key facts of the Day 1.06.2018

At 21.00 (GMT+1) total cryptocurrency market capitalization stands at $328,7 billion

Bitcoin (EXANTE: Bitcoin) $7 446,36 (-1,58%)

Ethereum (ETH/USD) $571,30 -1,55%)

Ripple (XRP/USD) $0,6133 (-0,51%)

Bitcoin Cash (EXANTE: Bitcoin.Cash) $984,72 (-1,79%)

EOS (EOS/USD) $12,06 (-3,67%)

Theta Token (+10,67%) showed the best growth in the top-100

IOTA (+3,8%) showed the best growth in the top-10

Market Dynamics

The trading volume of cryptocurrencies for the last 24 hours reached to $15,7 billion (-0,1 billion per day)

Mining Profitability

Bitcoin: $ 0,44 for TH/s

Ethereum: $ 0,05 for MH/s

BitcoinCash: $ 0,44 for TH/s

Litecoin: $ 5,9 for GH/s

Dash: $ 0,19 for GH/s

Ongoing ICO:

Expected ICOs:

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By Nadya Astam

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