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Bitcoin
New research from fintech and crypto data company Digital Assets Data is shining light on the impact of a global economic downturn on the price of Bitcoin.
The research compiled data from the peer-to-peer Bitcoin exchange LocalBitcoins, and found that people in countries like Venezuela and Argentina continued to buy BTC even when the price of the leading cryptocurrency was dropping. Digital Assets Data CEO Mike Alfred told Forbes the results display Bitcoin’s concrete use as a store of value in times of economic turmoil.
“We found that in developing countries and places where monetary policy and banks are less stable, Bitcoin trading volume continued to rise even as the bitcoin price was falling.
While this is currently happening in smaller economies, if there was instability in the developed world, perhaps through a major recession or spike in unemployment, there could be a significant surge in interest in Bitcoin, resulting in a potential positive catalyst for the bitcoin price.”
Bitcoin trading volume reached a new all-time high in Venezuela on LocalBitcoins for the week ending July 20, according to data compiled by Coin.dance.
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Ethereum
A new episode of the Into the Ether podcast is out.
The CEO of Matic Network joins host Eric Conner to talk about Matic’s efforts to dramatically scale the Ethereum network and make it possible to transfer Ether and Ethereum-based tokens in an instant.
The crypto payment processor CoinField says it has integrated with the XRP Tip Bot. The company will use the tip bot, which was created by Wietse Wind, head of the Ripple-backed XRPL Labs, to give away small amounts of the digital asset to Ripple and XRP enthusiasts.
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Litecoin
The latest episode of The Coin Chat features a duo from the Litecoin Foundation.
Project director David Schwartz and ambassador John Kim talk about the latest developments on the Litecoin network and the Foundation’s new partnership with the Miami Dolphins.
Tron
The GLIDE foundation has confirmed that Tron founder Justin Sun’s meeting with Warren Buffet has been postponed and not canceled. But so far, a new date has not been set.
Sun says he’s feeling better and will get back to work toward the end of the week.
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Cardano
Cardano’s commercial development branch Emurgo has posted a progress report on the smart contract platform. The new episode covers Cardano’s marketing strategy, new features on the Yorio wallet, upcoming conferences and more.