Crypto News Cast For May 6th 2021 ?

in #bitcoin3 months ago

Crypto News Cast May 6th 2021

Crypto News Cast 📮 06-05-2021

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

24hours Cryptocurrency Market Cap:

📈MarketCap: $2398 B
📊24h Mcap %: 38.20%
⚠️Bitcoin Dom: 44.40%
📌Active Coins: 6442
📍24h Vol %: 2.00%
💲24h Vol: $261 B

Crypto News Updates :

  • UFC Will Use Chiliz blockchain To Launch Fan Token By June
  • Defi Will Lead Better, Transparent Financial System Federal Reserve Bank
  • NYDIG Claims US bank Set To Allow Bitcoin Trading This Year
  • DOGE-made Millionaires Now Above 2000, Doubling Within Two Weeks
  • U.S. Based Kraken Crypto Exchange Fully Launches Cardano Staking
  • PayPal CEO Says Crypto is Positively Producing Amazing Results For PayPal
  • Largest Latin American E-commerce Adds $7.8Million Bitcoin To its Treasury
  • Residents of Argentina Choose Crypto As Hedge Against Inflation

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UFC Will Use Chiliz blockchain To Launch Fan Token By June

UFC plans to launche Fan Token in June and with a maximum supply of 20 million tokens. It will offer privileges such as exclusive content, fan voting, VIP rewards, promotions, competitions to its 625 million fans around the world. The partnership between The UFC and Chiliz gives UFC fans access to use Chiliz’s native token CHZ, this means UFC fan token will be on the Socios app, with no pre-sale anywhere. Read Full on cointelegraph.

Defi Will Lead Better, Transparent Financial System - Federal Reserve Bank

Dr. Fabian Schär wrote in a paper published by the Federal Reserve Bank of St Louis on May 2 about decentralized finance and Ethereum’s impact on it. He applauded Defi in its efficiency in using “smart contracts to create protocols that replicate existing financial services in a more open, interoperable, and transparent way.” Dr. Schär also explained that Defi will lead a better and transparent financial system. Read Full on cointelegraph.

NYDIG Claims US bank Set To Allow Bitcoin Trading This Year

A report by CNBC on Wednesday indicates that US bank would allow crypto trading to customers, New Digital Investment Group will partner with Fidelity National Information Services to make this possible. Most banks in the US have already showed interest, the company also added it'll get the Big Banks on the trend too. The banks is being influenced by the massive revenue gotten from Robinhood and Coinbase platform. Read Full on cointelegraph.

DOGE-made Millionaires Now Above 2000, Doubling Within Two Weeks

Doge recent upward rally doubled the number of millionaire investors in the asset within two weeks. The Data from BitInfoCharts shows about 2,866 dogecoin wallets each had at least $1 million as at May 4, 2021, which was a 116% growth from April 23 with 1,321 wallets. This spike was after Gemini and eToro showed support for doge by listing it. Dogecoin currently has $73.7 billion market cap, above XRP's $63.3 billion. Read Full on Finbold.

U.S. Based Kraken Crypto Exchange Fully Launches Cardano Staking

Cardano’s staking now possible and launched on Kraken, the U.S.-based cryptocurrency exchange. This means that users can now stake cardano and also receive 4% to 6% reward. Payouts are open on weekly base, Cardona is developed for users to able to operate smart contracts and run decentralized applications. ADA becomes the seventh staking options on Kraken, others being Ethereum, Polkadot and Flow. Read Full on CoinDesk.

PayPal CEO Says Crypto is Positively Producing Amazing Results For PayPal

President and CEO of PayPal, Dan Schulman commended the performance of digital assets which has boosted the company positively and helped them achieve amazing results. He also believes crypto and central bank digital currencies will have a very strong impact in producing “a more equitable financial system. PayPal has an roadmap that extensively involves Crypto and many Partnerships with the appropriate government and regulatory bodies. Read Full on cointelegraph.

Largest Latin American E-commerce Adds $7.8Million Bitcoin To its Treasury

Argentinian company Mercado Libre, the largest e-commerce platform in Latin America joins other companies like MicroStrategy and Tesla to acquire $7.8 million in Bitcoin within the first quarter of 2021 according to their report to Securities and Exchange Commission. Mercado Libre is now the first largest Latin American company to acquire Bitcoin for its treasury. The company had made provisions for the use of Bitcoin with their Real estate verticals. Read Full on cointelegraph.

Residents of Argentina Choose Crypto As Hedge Against Inflation

Residents of Argentina turn towards Crypto as a hedge against inflation. In the words of Maximiliano Hinz, Latin American director of Binance: “The number of user accounts for investing in cryptocurrencies has multiplied by ten in Argentina since 2020.” In the past, Argentinians invested in fiat, that is the U.S. dollars in order to combat inflation, but that option is no longer Preferred as Cryptocurrencies have become an obvious solution. Read Full on CryptoSlate.