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From a spike in Bitcoin trading from players with deep pockets, to a big boost in adoption for Ethereum, here’s a look at some of the stories breaking in the world of crypto.
Bitcoin
The CFO of leading crypto exchange Binance says the company’s over-the-counter (OTC) trading volume is surging. Wei Zhou told Decrypt that Bitcoin’s recent rise above $5,000 triggered a major uptick.
The exchange’s OTC volume has been rising throughout 2019, and helped power a significant boost in company’s first quarter revenue, which jumped 66% to a total of $78 million.
“Last month we saw a lot more volume than, say, three months ago. This was mainly due to the increase in price of Bitcoin and altcoins over the past few months. We’ve witnessed more trading activity – and demand.”
Every trade on the company’s OTC platform must be worth at least 20 BTC, which is valued at more than $104,000 at time of writing.
Ethereum
Big four accounting firm EY says it’s launching an Ethereum-based platform designed to help companies track transactions and products in the supply chain.
The move is especially big for Ethereum because the company is not releasing it’s own in-house, proprietary version of Ethereum’s code, as many companies have done in the past. Instead, EY will utilize Ethereum’s public blockchain directly.
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Ripple and XRP
The CEO of the social trading platform eToro is reiterating his company’s interest in becoming an xRapid partner. In a new tweet, Yoni Assia says he has discussed the XRP-based cross-border payment solution and the importance of banks in the digital economy with Ripple CEO Brad Garlinghouse.
Assia first revealed eToro is exploring a partnership with Ripple back in February.
Litecoin
The number of nodes powering Litecoin’s Lightning Network (LN) has nearly doubled since January.
According to the Lightning tracker 1ML, there are now 184 nodes up and running on the network, up from 100 four months ago. The network capacity is also growing at a rapid rate. At the start of the year, Litecoin’s LN could power just 26 LTC, a number that has now grown to more than 302.
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Tron
After moving its flagship game Bitizens to Tron, the gaming company BitGuild says it’s now planning to migrate PLAT, BitGuild’s utility token, to the TRON network.
“PLAT is the lifeblood of the BitGuild ecosystem. Though it was initially designed to be the sole currency usable on the entire BitGuild platform, we course-corrected once we realized this became a roadblock to our goal of reaching as wide an audience as possible. Now, PLAT works as a measure of the success of BitGuild, and a portion of the revenue of all BitGuild products will be used to buy back and burn PLAT, shortening supply and increasing value.
In the past few months, we have seen several projects gaining traction and liquidity on TRON exchanges — including BitTorrent (BTT), whose extremely successful token sale serves as yet another indication of the massive interest in crypto and TRON in particular. These developments make us confident that PLAT and BitGuild as a whole will see fertile ground to thrive on the TRON network.”
Stellar
The team at Stellar is offering new details on its community fund, which will be used to help boost companies building on the network. The fund is open to both developers and anyone interested in creating a project in the Stellar ecosystem.
“Builders, fear not! The Stellar Community Fund (SCF) has arrived! As we said in its original announcement, one of the major requests we’ve heard has been a method for the community to participate in guiding lumen distribution. We also wanted to make it possible for more than just developers to participate in growing the ecosystem.”
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