As more evidence of impressive institutionally compliant behaviour shows itself in the crypto world, it’s more juvenile side is exposed as J.K.Rowling inadvertently starts a crypto Twitter storm.
Bitcoin (BTC) trading volume hit a new high for 2020 with an average (on the top ten exchanges only) of US$2-3bn per day through May, but is still struggling to breach back through the US$10,000 resistance level and, at the time of writing, was trading at US$9,675.92 / GB£7,943.85; Ethereum (ETH) is at US$211.20 / GB£173.54; Ripple (XRP) is at US$0.2042 / GB£0.1672; Binance (BNB) is at US$16.50 / GB£13.52 and Cardano (ADA) is at US$0.05390 / GB£0.04433. Overall Market Cap is up circa US$23bn from last week at US$265.92bn / GB£218.12bn (data source: www.CryptoCompare.com)
Before I get into this week’s edition as this is uploaded a major event is taking place online. The ANON Summit 2020 organised by BlockExpo and Cointelligence is taking place, not attended by hordes of people on the ground, but by 8,000 plus registered guests from around the world online for the first test of an established major conference. Headline sponsors are Electroneum (see today’s Crypto AM: shines its Spotlight on Electroneum) I must also offer my congratulations to Cointelligence CEO, On Yavin, on becoming a father again to a healthy baby girl on Sunday.
City AM’s Crypto Insider
What a difference a week makes!
The sun is back and London looks like it is turning the tide against COVID-19 with the Government taking the first tentative steps towards easing the national lockdown. On Thursday I stepped out for my daily walk on the Isle of Dogs but headed west for the first time and just carried on walking until St. Paul’s Cathedral. I have never in my life seen the River Thames so calm and devoid of traffic which was in stark contrast to the Twitter storm that developed on Friday night becoming a full on tempest over the weekend.
J.K.Rowling, author of the Harry Potter books, relaxing at home tweeted “I don’t understand bitcoin. Please explain it to me.” Thirteen hours later Luna, my ten-week old yellow labrador puppy, woke me up at 5:30am. Whilst guarding her outside, I looked at my phone’s Twitter feed with mild astonishment many industry leaders scrambled to welcome her into the cryptocurrency world by answering her question in their own style – Charles Hoskinson of IOHK/Cardano went as far as producing two instructional videos, the second replacing the first because the first attempt had poor telecast – perfectionist to the core (see here). Things turned ugly pretty quickly however, as a shocking number of juvenile ‘trolls’ drowned every well meaning voice out scoring an undesirable and pointless own goal reputationally. It’s all the more disappointing, given the tireless and serious work being done by a number of very bright entrepreneurs who are paving the way for traditional institutional funds to enter the…