Latest News on CryptoCurrency
June 7, 2021.
- The Dogecoin miners Generate a $6 Million Revenue Daily
Apart from dogecoin investors, the meme cryptocurrency miners are also reaping millions for generating new coins and confirming transactions amid the 2021 rally.
Data provided by crypto intelligence platform Coinmetrics indicates that between May 23 and June 23, dogecoin miners have earned at least $6 million daily. Furthermore, between January 1 and June 3, the dogecoin total 30-day average mining revenue stands at $259.33 million.
The mining revenue correlates with dogecoin’s 2021 rally that has resulted in demand for the coin. On a year-to-date basis, dogecoin has surged 9,400%, benefiting from the general crypto market price movement. In addition, the meme coin has received massive support from Tesla (NASDAQ: TSLA) CEO Elon Musk through supportive tweets.
The surge in DOGE’s value has also resulted in millionaire investors. According to our previous research, as of May 4, 2021, about 2,866 dogecoin wallets each had a value of at least $1 million. The figure represented a growth of 116% from April 23 when 1,321 wallets had doge with the value of at least $1 million.
2. Tony Hawk Says He First Bought Bitcoin In 2012 And Is Still Holding Bitcoin
Professional skateboarder Tony Hawk announced that he had first purchased Bitcoin in 2012 after discovering how it worked on Silk Road. The skateboarder spoke about how bitcoin grabbed his attention as a means of exchange, saying “it was very fast and international. For me, it was the future of finance.”
The skateboarding legend did admit that he had not sold any bitcoin as of yet. Hawk said bitcoin had risen in popularity much faster than skateboarding had.
3. Texas Government Creating A Legal Framework For Crypto And Blockchain
Texas Gov. Greg Abbott (R) signed into law a measure creating a legal framework for cryptocurrencies and blockchain in the hopes of making his state a magnet for the industry, the way Wyoming has become, and what Miami Mayor Francis Suarez is trying to do with that city.
The new law amends the state’s Uniform Commercial Code to better adapt commercial law to blockchain and digital assets formally define virtual currencies and offer individuals and businesses a legal environment for crypto investment.
4. Litecoin’s MimbleWimble Will Be Activated By The Year-End
The Litecoin protocol of MimbleWimble is set to go live by the end of the year on LTC mainnet as reported by the Company’s lead developer David Burkett. He added that a lot of upgrades and changes have taken place since it was first submitted on Github. As reported by Burkett, they are looking for developers who are Knowledgeable about cryptography and reviewing C++ code to assist in the project, this information was passed across on their Twitter handle
5. China Blocks Several Cryptocurrency-Related Social Media Accounts Amid Crackdown
crypto-related accounts in China’s Twitter-like Weibo platform were blocked over the weekend, as Beijing stepped up a crackdown on bitcoin trading and mining.
More actions are expected, including linking illegal crypto activities in China more directly with the country’s criminal law, according to analysts and a financial regulator. Last month, China’s State Council, or cabinet, vowed to crack down on bitcoin mining and trading, escalating a campaign against cryptocurrencies days after three industry bodies banned crypto-related financial and payment services.
Over the weekend, access to several of widely followed crypto-related Weibo accounts was denied, with a message saying each account “violates laws and rules.”
