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Cryptocurrency News for Today May 6

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Cryptocurrency News Today – May 6th – All you Need to Know About Cryptocurrencies – Crypto News

Cryptocurrency News for Today May 6

Cryptocurrency News for Today May 6
CONTENT

  • Before halving, nothing at all – what will happen to bitcoin?

  • Another cryptocurrency exchange is suspected of an exit scam

  • Ethereum 2.0 could be launched this summer

International consortium of news organizations developing transparency standards.

There are less than 1000 blocks left before the Bitcoin halving, and it’s time for miners to think about how to hedge the risks associated with this event. Coin Metrics experts offer a couple of solutions. In addition, the editorial staff of BeInCrypto has prepared a brief historical note on how the price of bitcoin behaved in previous halvings. Perhaps the history lessons will help the reader better understand what to expect this time. Meanwhile, the Ethereum team may release their global update 2.0 in the summer, and the ExtStock exchange appears to have completed an exit scam.

Cryptocurrency News for Today May 6

Read about the situation 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..

Halving Bitcoin halving cuts the number of new coins created and earned by miners in half. This happens about every four years and … More Bitcoin: What Affects Cryptocurrency Growth

There are only a few days left until the biggest Bitcoin event, but does the decline really affect the price of the asset so much? The third halving of bitcoin will take place in 1000 blocks. Presumably, the reduction in the reward to miners from 12.5 to 6.25 BTC per block will come already ~ May 11-12. Many cryptoinfluencers like to attribute the explosive rise in the price of bitcoin to halving, since it is after the decline that exponential growth in price is usually observed. More details

Cryptocurrency exchange ExtStock is suspected of exit scam

The British cryptocurrency trading platform lures traders with attractive rates and then does not return their money. Exit scams are common among cryptocurrency projects. This time, a user on the Reddit platform writes that the ExtStock exchange may have been hacked or escaped with customers’ money and provides information that the company EXCHANGE CLOUD LIMITED, which operates the trading platform, is registered in the UK, while its entire capital is limited to one pounds sterling and it does not conduct business. More details

Ethereum 2.0 may start in July 2020

With no further delays, new research has shown that Ethereum’s long-awaited upgrade could begin as early as July this year. In the course of research, BitMEX has carefully studied the Ethereum 2.0 update, which will herald a long-awaited migration from Proof of Work protocol to Proof of Stake consensus. The study also showed that the launch itself may not be as important an event as economic activity will be conducted on the original blockchain, which will run in parallel with the new platform. More details

Bitcoin geography: who invests in cryptocurrencies

Cryptocurrency News for Today May 6

According to Coin.Dance research, in April 2020, 3847 bitcoins were stored in Russia, which in dollar terms exceeds 34.5 million, which is 22% of all local bitcoins in the world. Russia is followed by Venezuela, which holds 2358 BTC or $ 21.2 million or 13% of all local bitcoins. The top 5 also includes the United States – 1990 BTC or 11% of local bitcoins, Colombia – 1489 BTC (8%), England – 1126 (6%). More details

Bitcoin miners will start hedging risks due to halving

The upcoming halving of bitcoin for the cryptocurrency market is nothing more than entertainment, but for miners, the reduction plays a vital role. According to Coin Metrics, as reward cuts and large investors come from the traditional market, mining companies will be forced to look for ways to hedge their risks. Now miners do not know how to calculate the hash power in such a way as to effectively reduce the risks, but also to maintain the profitability of mining. More details

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All information contained on our website is published in good faith and objectivity, and for informational purposes only. The reader is solely responsible for any actions he takes based on the information received on our website..

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