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1-year High For Bitcoin

Check out past issues of the newsletter along with more interesting crypto content as well as our rec

Satoshi&Co Daily Crypto Newsletter

May 27 · Issue #184 · View online
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Check out past issues of the newsletter along with more interesting crypto content as well as our recently-launched podcast series with leading crypto industry participants at our newly-launched website

(Listen to our latest podcast here. It is with Sandeep Nailwal of Matic Network, which is a layer 2 protocol working on ETH’s Plasma. Matic Network recently finished a successful launch on Binance Launchpad and is also the first Indian crypto startup to receive funding from Coinbase Ventures).
The crypto market is showing no signs of cooling down, and the price of Bitcoin has rallied up by about 10% today, to reach a new high in 2019 and also record a 1-year high of $8800 today. After having been range bound for a long time, crypto prices in the past one month have skyrocketed to new yearly highs and Bitcoin alone has risen by over 100% in value. The sudden but somewhat anticipated rally in Bitcoin prices can be attributed to the impending block reward halving event, which is scheduled to happen in another year from now. Currently roughly 12.5 bitcoins are mined in each block and 144 blocks a day are mined, bringing into circulation about 1800 bitcoins. After the halving, 6.25 bitcoins will be the reward for mining each block.
Source: Bitcoin Wiki
Source: Bitcoin Wiki
In addition price is also being driven up by the positive news around institutional BTC adoption, such as Fidelity’s foray into crypto, record institutional trading volumes on registered crypto futures exchanges and increasing clarity on the regulatory front that failed to push prices higher previously.   
Bitcoin sentiment as tracked by Sentix sentiment tracker is back in positive territory for the first time in almost a year.  
Meanwhile in Crypto Wonderland....
“Brave Browser To Add Tipping Function For Twitter”
Blockchain browser Brave is testing a new tipping function for social media platform Twitter on its Nightly version, it announced in a tweet on May 23. The post reads that users of Brave Nightly — the testing and development version of blockchain-based browser that blocks ads and website trackers — will have access to the browser’s new feature for tipping tweets with the Brave Rewards program. The feature is designed to award content creators with Brave native digital tokens, basic attention tokens (BAT).
“Hacked Crypto Exchange Cryptopia In Tatters”
Defunct cryptocurrency exchange Cryptopia warned it will take “some months at least” to figure out how to return tokens owed to its users. Cryptopia administrators have also requested “urgent interim relief,” which they say is critical to maintain a single SQL database that stores all of its users’ individual account holdings and contact details. Hackers forced Cryptopia offline in January after they drained $16 million in digital assets from its operational wallets. Following a failed relaunch, the exchange finally commenced the liquidation process with Grant Thornton New Zealand earlier this month.
“Blockchain-based F1 Racing Game Starts Offering Collectibles”
F1 Delta Time, a blockchain-based racing game, has just launched a new line of crypto collectables including “Cars, Drivers, and Components.” The collectables are based on the ERC-271 non-fungible token standard, which allows different attributes for each token. However, “fungible Tokens (FTs) based on the ERC-20 token standard will function as a currency in the game, and will be equally necessary as they will be used in transactions such as paying entry fees and purchasing certain items,” write the creators.
“Yahoo Japan Backed Crypto Exchange To Launch Soon”
The Japanese cryptocurrency exchange Taotao, which is 40% owned by Yahoo! Japan, will begin its work on May 30, iHodl Russia reports. Initially, Taotao will open trading for bitcoin (BTC) and ethereum (ETH), as well as margin trading for litecoin (LTC), ripple (XRP) and bitcoin cash (BCH). In April 2018, Yahoo! Japan bought out part of the BitARG exchange, later renamed Taotao, for an estimated amount of 2 billion yen ($ 19 million).
Tweet of the Day
Balaji S. Srinivasan
I don’t think any crypto can compete with Bitcoin. I do think that public blockchains can help break the power of the new internet monopolies via peaceful, market-based, and above all effective means.
Today's Top Reads / Podcasts
Overnight Performance of Top 10 Currencies
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