Cryptocurrency News Cast 📮 25-08-2020

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24hours Cryptocurrency Market Cap:

📈MarketCap: $357 B
📊24h Mcap %: -5.90%
⚠️Bitcoin Dom: 59.20%
📌Active Coins: 3,820
📍24h Vol %: 6.20%
💲24h Vol: $95 B

Cryptocurrency News Updates :

• China's Digital Yuan Trials Are Limited To Small Retail Transactions
• NSF International Adopts VeChain For COVID-19 Safety Certification
• Huawei and Beijing Jointly Develops Blockchain Governance Platform
• Binance.US Expands To Florida, America's Third Most Populous State
• Bitcoin Mining Difficulty Set For A New High
• More Than 2,000 Bitcoin Addresses Hold Over 1,000 BTC
• IMF Published Video Specified Cryptocurrency As “A Special Currency”
• Aave's Total Value Locked Takes Over MakerDAO
• BitMEX Grants $40,000 To Developer Working On Bitcoin Scalability

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China's Digital Yuan Trials Are Limited To Small Retail Transactions

China’s central bank has apparently played down rumors of a property transaction settled with its in-the-works digital currency. Per the report, some Chinese internet users claimed that a person in Shenzhen received a large amount of PBoC’s digital currency after selling local real estate. Later, an employee at the central bank reportedly told news source Sina that trials of the digital currency are currently solely focused on smaller retail transactions and that scenarios involving larger-sized transactions are not yet being addressed. Read Full on cointelegraph.

NSF International Adopts VeChain For COVID-19 Safety Certification

VeChain’s (VET) has been chosen by NSF International as the preferred blockchain network for its COVID-19 Safety Protection Certification. NSF International, a U.S.-based organization whose primary objective is to improve global human health, by facilitating the development of public health standards, while also testing, auditing and certifying products and services, has integrated VeChain into its processes. NSF International plans to launch the COVID-19 Prevention Control Practice (PCP) powered by VeChain (VET). Read Full on BTCMANAGER.

Huawei and Beijing Jointly Develops Blockchain Governance Platform

Huawei and Beijing’s municipal government have jointly developed a blockchain directory for use across urban governance. The system, still being trialed, is aimed at improving government services. Interest in blockchain technology forms part of Beijing’s research into smart city approaches to enhance urban innovation and governance. Platform will enable efficient communication and feedback between the citizens and the mayor’s office, road parking services, medical care notably including pandemic response services and utilities provision. Read Full on cointelegraph.

Binance.US Expands To Florida, America's Third Most Populous State

The expansion into America's third-most populous state follows Binance.US’s July procurement of a Floridian money transmitter license under the name “BAM TRADING SERVICES INC.” Binance.US chief Catherine Coley, who grew up in Orlando, told the two-year Florida license grants her exchange access to what is now its second-largest potential market: 12 million eligible traders. Coley said more states will be added as their respective money transmitter licenses clear. Read Full on CoinDesk.

Bitcoin Mining Difficulty Set For A New High

The difficulty of mining bitcoin (BTC) which is the measure of how hard it is to compete for mining rewards, has just reached another all-time high, after rising more than expected during today’s difficulty adjustment. Bitcoin’s mining difficulty ramped up by 3.6% today, the Hike has brought Bitcoin's total network difficulty to a record high of 17.56 trillion. Per data from BTC.com, the next difficulty adjustment, penned for September 7, is estimated to push Bitcoin's network difficulty to another all-time high and past 18 trillion territory. Read Full on Decrypt.

More Than 2,000 Bitcoin Addresses Hold Over 1,000 BTC

According to data site Glassnode, the Bitcoin Rich List or the number of Bitcoin addresses holding over 1,000 Bitcoin (BTC) has reached all-time high. The number of 2,190 bitcoin addresses contain 1,000 or more BTC. The total amount of Bitcoin held in accounts of 1,000 or more was 7,868,823 that amounts to $92.2 billion. The previous record was 2,184 on Sept. 28, 2019. In the wake of the corona-virus pandemic, more investors have been looking into Bitcoin and other cryptos as alternative investments to traditional markets. Read Full on CoinDesk.

IMF Published Video Specified Cryptocurrency As “A Special Currency”

The International Monetary Fund (IMF) has published a video explaining what cryptocurrency is on Sunday that instantly went viral. Referring to cryptocurrency as “a special currency,” the two-minute video attempts to outline its benefits in payments, such as by removing middlemen, lowering costs, and increasing transaction speed. Besides suggesting that cryptocurrency could “completely change the way we sell, buy, save, invest, and pay our bills,” the video states that it “could be the next step in the evolution of money.” Read Full on Twitter.

Aave's Total Value Locked Takes Over MakerDAO

Decentralized lending and borrowing protocol Aave has taken the number one slot in total value locked (TVL), snatching that position from rival MakerDAO. Aave's TVL, or the total amount of crypto assets deposited into the protocol for lending and borrowing purposes, is now $1.45 billion, according to tracker DeFi Pulse. MakerDAO's TVL is a tad lower at $1.44 billion. The yield farming craze in recent weeks has shot up the TVL of almost all DeFi protocols, to currently stand at over $6.9 billion. Read Full on The Block.

BitMEX Grants $40,000 To Developer Working On Bitcoin Scalability

BitMEX's parent company, 100x Group, awarded a $40,000 one-year grant to Calvin Kim, the developer and researcher of Bitcoin (BTC) unspent transaction outputs (UTXOs) scalability solution Utreexo. The one-year grant will help develop a protocol that shrinks the size of Bitcoin’s unspent transaction outputs with no loss of security. Calvin has been working on Utreexo for over a year and was instrumental in the development of the first demonstration release, which was finally announced in July this year. Read Full on Decrypt.