Cryptocurrency News Cast 📮 14-07-2020

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Welcome to The Cryptocurrency News Cast: A Complete Cryptocurrency News letter For Today

24hours Cryptocurrency Market Cap:

📈MarketCap: $272 B
📊24h Mcap %: -0.96%
⚠️Bitcoin Dom: 62.40%
📌Active Coins: 3,319
📍24h Vol %: 3.69%
💲24h Vol: $67 B

Cryptocurrency News Updates :

• Grayscale Shifts Focus To Bitcoin and Ethereum
• Fidelity Gets Over 10% Stake in Bitcoin Mining Firm Hut 8
• Vodafone Will Use Blockchain for Roaming Settlement
• Ethereum Dapp Holds More Bitcoin Than The Lightning Network
• Crypto Hodlers Can Donate Cryptocurrency In Charity To Pay Less Tax
• Higher Stablecoin Supply May Lead Higher Bitcoin Price
• Iran Permits 14 Bitcoin Mining Farms
• Bitcoin Mining Difficulty Sets New Record

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Grayscale Shifts Focus To Bitcoin and Ethereum

Grayscale has increased the weighting of Bitcoin and Ethereum in its Digital Large-Cap (DLC) investment fund—at the expense of other major altcoins. Grayscale announced that the composition of its DLC fund had shifted moving into Q2 of 2020. Between March and June, the percentage of Bitcoin in the fund increased from 81% to 81.5%, while Ethereum’s weighting in the fund increased from 9.6% to 11.7%. The presence of three other major altcoins, XRP, Bitcoin Cash and Litecoin in the fund was reduced in the same time period. Read Full on dailyhodl.

Fidelity Gets Over 10% Stake in Bitcoin Mining Firm Hut 8

Fidelity Investment, a Billion-dollar asset management company now holds a 10.6 percent stake in Hut8, a publicly-traded Canadian crypto mining company. Fidelity holds 8,396,138 Common Shares and 2,054,956 common share purchase warrants, as a result of which Fidelity is deemed to hold 10,451,094 Common Shares representing approximately 10.58% of the outstanding shares of that class. Fidelity's investment in Hut 8 is significant since the asset management giant is known to be mining bitcoin since 2014. Read Full on theblockcrypto.

Vodafone Will Use Blockchain for Roaming Settlement

Three global industry leaders in telecommunications — Spain’s Telefónica, Deutsche Telekom, and Vodafone have finalized a trial blockchain solution for the settlement of roaming discount agreements. Developed by blockchain startup Clear, the solution is expected to reduce capital costs for telcos, support faster revenue recognition, and provide more efficient settlement for their inter-company deals. Use of the system enabled Telefónica, Deutsche Telekom and Vodafone to obtain yearly settlement results “within minutes”. Read Full on cointelegraph.

Ethereum Dapp Holds More Bitcoin Than The Lightning Network

A dapp on ethereum would be bitcoin’s scaling solution is something few would have thought about, but the market has spoken. MakerDAO’s dai producing dapp currently holds about 5,000 bitcoins, worth about $45 million. Bitcoin’s own Lightning Network (LN) instead, despite it being hailed as the solution to solve all of bitcoin’s problems, has only 1,000 bitcoins which are worth $9 million approx. Even Aave, launched only a few weeks ago, has more bitcoin than the Lightning Network. Read Full on Trustnodes.

Crypto Hodlers Can Donate Cryptocurrency In Charity To Pay Less Tax

The Giving Block and crypto tax software TAXbit published a guide on how to donate crypto holdings and maybe minimize some taxes. If a taxpayer donates cryptocurrency to a 501(c)(3) qualified nonprofit organization, it is a “non-taxable event for givers and receivers.” This means the donation will not be recognized as income or as a gain or loss. Donors do not have to pay capital gains tax on appreciated crypto, and will qualify for itemized charitable deductions depending on how long they held the crypto asset before the donation was made. Read Full on coindesk.

Higher Stablecoin Supply May Lead Higher Bitcoin Price

Bitcoin is at the cusp of attracting large capital inflows from the neighboring stablecoin market. As per glassnode report, the ratio between the supply of money in BTC and the supply of stablecoins – highlights the theoretical readiness of money to flow into BTC. The more money held in stablecoins, the higher the potential for a large inflow of capital into BTC. While a higher stablecoin supply may lead the BTC price higher. It concluded that more money held in stablecoins increases the chances for Bitcoin to start a new price rally on short notice. Read Full on Bitcoinist.com.

Iran Permits 14 Bitcoin Mining Farms

To combat a growing number of miners smuggling their equipment into the country, the Islamic Republic of Iran has reportedly issued permits for 14 cryptocurrency mining farms, each firm with a capacity of 300 megawatts. In a bid to support authorized cryptocurrency mining, Iran Power Generation, Distribution and Transmission Company (Tavanir) said it will cut up to 47% of the electricity tariff for miners during the peak consumption periods. Crypto miners will soon have to register with the government. Read Full on Bitcoin News.

Bitcoin Mining Difficulty Sets New Record

Bitcoin mining difficulty, a measure of how hard it is to compete for block rewards on the network, just set a new record high of 17.35 trillion around 12:00 UTC on Monday. This marks a 9.89% jump from the previous record of 15.78 trillion posted on July 1, Bitcoin.com’s blockchain explorer shows. The new record comes a little over two months after bitcoin’s halving on May 11, which reduced the block subsidy from 12.5 bitcoin per block to the current 6.25 bitcoin, per the network’s design. Read Full on btc.com.