Litecoin is one of the first open-source altcoins based on the original Bitcoin code. It was initially a strong competitor to the first cryptocurrency. However, as the cryptocurrency market expanded, Litecoin’s popularity gradually declined.
Bitcoin record, the launch of Free TON, the idea of mining in Ukrainian nuclear power plants
On May 4, the bitcoin rally stopped after the United States’ coronavirus report.
Before that, the rate of the main cryptocurrency reached the rate of $9,203, but subsequently fell again to $8,600, which is probably due to the US accusing the Chinese authorities of concealing information about the coronavirus.
Then, on Thursday, the price of the first cryptocurrency exceeded $10,000 for the first time since February, thus increasing by 7% per day. Following bitcoin, altcoins also rose in price: the increase in ETH was 4.3%, in XRP – 2.1%. The level of capitalization of bitcoin amounted to $182 billion with a dominance index of 67.8%. Since the beginning of the year, bitcoin has grown by about 40%.
The growth may be caused by the interest of investors in alternative currencies against the backdrop of the global crisis and the upcoming halving. For example, trader Tudor Jones views bitcoin futures trading as insurance against helicopter money.
An independent group of developers and PoS validators launched the Free TON blockchain, developed by Telegram, but without its participation.
The Telegram team was unable to launch the project due to problems with the SEC. The Free TON Community includes 150 companies and individuals who have signed the Decentralization Declaration (DOD). There are no US residents among them, since they are prohibited from signing this document. 10% of all Gram coins will finance the development of the project, 5% will be distributed among the validators, and the remaining 85% will be received by users and partners to promote the network.
Pavel Durov has practically no opportunities to implement the TON project within the framework of the law. So that investors could return their funds with a payback of 110%, the Telegram team offered to re-register their investments in a loan at 52.77% per annum.
However, returning funds to US investors is not enough to dismiss the case with the SEC. In addition, Telegram is threatened with lawsuits from investors for an inconsistent change in the investment agreement.
The Ministry of Energy of Ukraine has proposed using excess nuclear electricity for mining.
Due to the coronavirus epidemic, resource consumption has decreased, but nuclear power plants need to maintain the load. Therefore, it is proposed to create a pilot data center in the city of Energodar, Zaporozhye region. In general, the crypto community does not believe in the success of such an undertaking due to the incompetence of the Ukrainian authorities in mining.
Ripple co-founder Jed McCaleb has sold $11 million worth of his coins.
In April, one of the largest XPR holders sold 54 million coins, while still having billions of XRP in reserve. The funds left his wallets within a month in equal installments. According to an agreement with Ripple, Jed has a restriction on the sale of coins.
