💵 Today's Crypto Updates: March 5th 📈

Today's Crypto Updates:

1. Bitcoin Transaction Volume Hits Two-Year Low, Despite Rock-Bottom Fees
2. What is Tinkering in Bitcoin Core’s Toolbox, Developers Divulge
3. Coinbase Faces Another Lawsuit, Users Allege Platform ‘Kept’ Unclaimed Coins Sent By Email
4. Over $1: XRP Rises As Ripple-Coinbase Rumors Renew

Summary Of Today's News:

Bitcoin transaction volume way down. New Bitcoin developments. Coinbase gets sued again. XRP back over $1 after renewed Coinbase rumors. Read all about it below!

1. Bitcoin Transaction Volume Hits Two-Year Low, Despite Rock-Bottom Fees

Source: https://cointelegraph.com/news/bitcoin-transaction-volume-hits-two-year-low-despite-rock-bottom-fees

Key Highlights:

• "Despite the release of support for Segregated Witness (SegWit) technology by Bitcoin Core and exchanges Coinbase and Bitfinex in February, faster and cheaper Bitcoin transactions appear to interest investors less than overall trading potential."

Crypto Phil's Take:

This is interesting considering Bitcoin's dominance is going up again as of late. But is it really a surprise? There are plenty of other altcoins out there currently that make are cheaper and faster when you want to move funds around. I think the only thing that is really going to cause a big upward spike in transactions is Lightning Network.

2. What is Tinkering in Bitcoin Core’s Toolbox, Developers Divulge

Source: https://cointelegraph.com/news/what-is-tinkering-in-bitcoin-cores-toolbox

Key Highlights:

• "Bitcoin, as the original Blockchain cryptocurrency, is often shrouded with this perception that it is stale and not evolving as other coins spring up around it promising to have made the required improvements."

• “However, there is a constant buzz of improvement that is going on behind the scenes with developers that often does not make it onto the news. Improvements are being proposed, and pushed to happen, however given the environment of Bitcoin development, these improvements take time.”

Crypto Phil's Take:

It's good to be reminded that Bitcoin isn't just lying still, waiting for altcoins to overtake it. It's still the most "battle tested" cryptocurrency out there and there are plenty of improvements coming down the pipeline that should help Bitcoin stay relevant in the future.

3. Coinbase Faces Another Lawsuit, Users Allege Platform ‘Kept’ Unclaimed Coins Sent By Email

Source: https://cointelegraph.com/news/coinbase-faces-another-lawsuit-users-allege-platform-kept-unclaimed-coins-sent-by-email

Key Highlights:

• "US cryptocurrency exchange and wallet provider Coinbase faces a fresh lawsuit, filed March 2, alleging it “kept” funds that its users sent via email, but which recipients never claimed."

• "The lawsuit, which additionally makes accusations of “unfair business practices”, is the second to hit the largest US exchange and wallet provider in the past few days."

Crypto Phil's Take:

A lot of people are not happy with Coinbase as of late. This recent round of lawsuits against the company just showcases that. I'm just hoping that Coinbase can keep ahead of these lawsuits. The last thing we need is this exchange being shut down as it would hurt the markets badly.

4. Over $1: XRP Rises As Ripple-Coinbase Rumors Renew

Source: https://www.coindesk.com/xrp-rises-coinbase-rumors-over1/

• "The price of the third-largest cryptocurrency by total value is up 16 percent Monday, buoyed by speculation it could soon see a major exchange listing."

• "Indeed, comments on social media indicate investors now expect XRP price to extend Monday's gains ahead of an alleged appearance by CEO Brad Garlinghouse on CNBC's "Fast Money" Tuesday."

Crypto Phil's Take:

It's crazy how much markets can fluctuate just on a tiny little piece of news like this. It really is the wild west out here. Things like this excite me because it just shows how much money there is to be made if you make a few smart moves.

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