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Cryptocurrency News for Today May 16

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Cryptocurrency News for Today May 16

Cryptocurrency News for Today May 16
CONTENT

  • Ethereum Gains Popularity Among Large Crypto Investors

  • Government agencies are interested in Libra

  • Interest in Bitcoin will gradually grow

International consortium of news organizations developing transparency standards.

The whales are seriously interested in the ether and, perhaps, they will help it reverse the trend in a bullish direction. The controversial Libra cryptocurrency projectIn June 2019, Facebook announced preparations for the release of the Libra digital currency. The social networking project immediately attracted attention … More from FacebookIn June 2019, Facebook announced preparations for the release of the digital currency Libra. The social networking project immediately attracted attention … More unexpectedly received support from the government investment fund of Singapore. A new partner can increase the attractiveness of the project. Bitcoin never got past the $ 10,000 mark, but the bulls are not giving up. Ultimately, people and governments will appreciate the benefits of the new money. For example, Iran and Venezuela could save good money if they used bitcoin in calculations, and not physical gold..

Cryptocurrency News for Today May 16

Read about how things are in the cryptocurrency market, as well as about the key events that have occurred in the cryptocurrency industry over the past day, in our daily digest..

Bitcoin price and oil: is there a correlation between them

Bitcoin hit a bottom on March 13, while oil made it on April 22. Since then, both assets have been strengthening at a similar rate. Earlier, we have already examined the correlation between the dynamics of bitcoin and the stock index S&P 500. Now it’s oil’s turn. Trader Adam Mancini (@ Adammancini4) shared a chart for oil with his Twitter readers, commenting that price is forming a bullish reversal pattern and may soon accelerate growth. More details

Italy donates € 15 million to create a blockchain-based trade mark system

The Italian government is investing in the development of blockchain solutions to protect the intellectual property of local businesses. According to dGen, a non-profit research institute that studies the development of decentralized technologies in Europe, blockchain could become a key way to protect small and medium-sized manufacturers, as well as the largest brands, through the digitization of goods. Over the past couple of years, Chinese companies have made a significant expansion of their investments in Italy, using the Made in Italy brand on many of their products. More details

Venezuela paid Iran 9 tons of gold to help with oil refining

Iran had to organize a mega-operation and use several planes to collect gold from Venezuela as payment for its services. An equivalent transaction in bitcoins will cost less than three dollars, and no planes are needed. Iran and Venezuela have been friends for many years. Both countries are under US sanctions and support each other through various bilateral agreements. Recently, however, Venezuela has been badly moneyed, so the country has to sell its gold, including in order to pay off debts to Iran. More details

Libra enlists the backing of Singapore government investment fund

Cryptocurrency News for Today May 16

Token As the use of cryptocurrencies grows, new types of tokens are emerging. They can represent value or something intangible like voices. Two … More Libra, which is to become the main payment instrument within the Calibra blockchain, will be backed by the value of four major fiat currencies – the US dollar, the euro, the Singapore dollar and the British pound sterling. This information appeared a month ago, when representatives of the Libra Association presented an updated development plan for the project, in which they abandoned the ambition to create a global currency that could violate the sovereignty of fiat money. More details

Bitcoin is increasingly attracting Ethereum whales

Despite the fact that the world’s second largest cryptocurrency in terms of capitalization, Ethereum, has almost doubled in price, the number of users of ETH tokens has noticeably decreased. According to Glassnode, the number of Ethereum wallets containing 10,000 or more coins dropped to 1,050. This is the lowest level since January 2019. At the same time, the number of bitcoin wallets that contain 10,000 or more BTC has increased rapidly. At the end of April, this figure reached 111 units and became the highest since August 2019. More details

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