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  • The number of bitcoin whales and ether holders is growing – market overview
Overview of the cryptocurrency market.

The number of bitcoin whales and ether holders is growing – market overview

Forbes Founder: Cryptocurrencies are the best defense against a troubled economy

Steve Forbes called bitcoin and cryptocurrencies in general a way to protect against inconsistent economic policies of states. In an interview with the American Center for Natural and Artificial Intelligence, the editor—in-chief of the world edition also noted the disadvantages of bitcoin – high volatility and limited emission. He also believes that in order for cryptocurrencies to win over states, it is necessary to focus forces on popularizing the use of cryptocurrencies right now.

The volume of bitcoin options trading on CME has updated the historical maximum.

The Chicago Mercantile Exchange recorded an increase in volume to $373 million, which is more than 10 times more than last month ($35 million). The total share of the exchange in the bitcoin options market is 20%, second only to the Deribit exchange. In general, the market for these options grew by 50% over the month to $ 1.5 billion.

Mass layoffs and the USА stock market

The international hotel chain Hilton plans to cut 2,100 employees, and the leading UK bank NSBC will cut costs by $ 4.5 billion, in connection with which 35,000 employees will be laid off.

Many companies have not fired people since the outbreak of the coronavirus epidemic, but given the long quarantine and the deplorable state of the economy, they are forced to cut costs.

In the USA, 1.5 million unemployed people appeared in a week, 160 million loans did not receive payments on time. Despite the current situation, key stock market indices have increased, presumably due to information about the effectiveness of dexamethasone in the treatment of patients with severe coronavirus (CNBC data).

Due to the gradual easing of quarantine, the administration of Donald Trump will stop payments to the unemployed after July.

Glassnode: The number of bitcoin whales has grown by 8.9% in a year

The number of those who own at least 1000 BTC has grown significantly since the beginning of the March collapse of bitcoin. This suggests that whales are accumulating cryptocurrency even during serious fluctuations.

There are also those who own at least 10,000 BTC — there are currently 110 wallets.

In addition, the number of wallets with a balance of 0.1 BTC is growing rapidly – 3,057,754.

Ether Miners Accumulate Coins

Analysts of the Santiment platform report that the miners of the largest altcoin have significantly increased their reserves over the past two weeks by another 15,000 ETH, after which the ether switched to the consolidation phrase. In history, this trend has led to the strengthening of the coin. On the other hand, a decrease in network activity may lead to a lack of new investors and a drop in prices.

The commission of 10,668 ETH will be divided between miners

The sender of transactions with abnormal fees did not get in touch with mining pools, so the Ethermine pool decided to distribute a commission of 10,668 ETH ($2,385 million) between miners.

PeckShield analysts found out that two small transactions with record fees totaling $5.2 million were sent from the account of a South Korean p2p platform called Good Cycle. The Good Cycle pyramid has become popular in a short time due to the promises of high profitability with a minimum entry threshold of $100.

#Crypto #crypto news

Disclaimer: the site publishes third-party content and opinions. Does not constitute financial advice. May contain sponsored content.

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