Crypto News of the day (3.8.) | Wild weekend for crypto market • Winklevoss: Not owning BTC in 2020 will be worse than not investing in Amazon in 2000 • and other news

We have prepared for you an overview of the most important things that happened during the last day in the cryptoworld and crypto market. Welcome to crypto news of the day.

Crypto Market

After weeks of stagnation, Bitcoin has finally come to life. At the end of the working week, the largest cryptocurrency in the world climbed to a new high for 2020. Bloomberg published a half-yearly report that predicts that BTC could soon rise above $ 12,000. Hodlers did not have to wait long for another increase. As the weekend began, BTC beat $ 11,600 for the first time in 12 months. Another excitement came when Bitcoin rose sharply to $ 12,000 – but unfortunately the market drama was not over for the bulls. On Sunday, Bitcoin fell 13% in a matter of minutes, to $ 10,550. The Fear & Greed Index reached 80, indicating “extreme greed.” The Altcoins followed the market leader.

You can monitor the current prices of cryptocurrencies here.

Cryptocurrencies

Hashrate BTC has reached a new ATH

The total hash rate of the bitcoin blockchain network reached an all-time high, 124.8 EH / s, which indicates an optimistic development after halving. The third historic halving of mining rewards occurred on May 11, 2020. Immediately afterwards, the hashrate dropped from 121 million terahashes per second (TH / s) to 90 million TH / S.

ETH transaction fees reached level of the year 2017 due to DeFi

The total value locked in decentralized financing (DeFi) exceeded $ 4 billion. As a result, transaction fees in the Ethereum network have reached the highest level in the last three years. Data from YCharts shows that the average Ethereum transaction fee rose to $ 1.59. For transactions involving smart contracts and token swaps, fees have risen to $ 5-15.

Winklevoss: Not owningBTC in 2020 will be worse than not investing in Amazon in 2000

Cameron Winklevoss believes that not owning bitcoins is a “worse decision” than not investing in Amazon. Shares of Amazon raised their price from approximately $ 250 to $ 3,160. Winklevoss said: “Not owning bitcoins today will be a worse investment decision than not investing in $ APPL, $ GOOG, $ AMZN and $ MSFT in early 2000.”

Cryptocurrency Exchanges. Banks, Companies

YouTube continues its campaign against crypto-channels

Aaron and Austin, two brothers who run the popular crypto news channel Altcoin Daily, found that YouTube had banned their channel for allegedly “encouraging illegal activity.” The two bitcoin supporters have filed an appeal on YouTube and are now trying to find support from the cryptocommunity on Twitter to persuade Youtube to reconsider its decision.

Tencent built a blockchain for the oldest Chinese wine producer

Chinese technology giant Tencent has unveiled its plan to create a blockchain-based wine traceability platform in collaboration with Changyu, China’s largest and oldest wine producer.

CBDC

China: CBDC can reshape monetary structures

Wang Yongli, a former vice president of the Bank of China and director of the Haixia Blockchain Research Institute, said digital currencies can certainly be a substitute for cash, but according to the Global Times, this should not be limited to that. Wang said digital currencies can reshape monetary structures. This includes the establishment of “basic accounts” for all social entities on the central bank’s digital currency platform. This allows the bank to oversee digital currencies without significantly impacting the current financial system. He added that the digital currency increases the effectiveness of monetary policy, because excessive spending of physical, paper money will be prevented.

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