Crypto News : Surge in ‘Bitcoin Halving’ search volume, SaTT facebook’s integration, Binance smart contract blockchain, Etherscan’s ETHProtect and many more stories in this week’s crypto highlights.
Top Stories Of The Week
– Ahead of facebook’s libra, a blockchain advertising company has integrated crypto payment for ads campaigns on four social media giants.
– “Build it, they will come”, the saying still holds true for crypto projects. A recent study had shown a strong correlation between crypto prices and their underlying code.
Despite the recent massive dump in Bitcoin’s price on the 13th of march, the interest in the noble asset keeps breaking records each time. Bitcoin which is currently finding strong support above the $7k mark has received increased attention ahead of its 2020 halving. Data revealed that the search volume for ‘Bitcoin halving’ has surpassed its previous all-time high.
The data captured the top five countries with the most interest in the coming event: Luxembourg, Latvia, Estonia, Switzerland, and Lithuania. A more narrowed result shows that Nigeria, Venezuela, Austria, Portugal, and Czechia were topping the search chart. The Bitcoin 2020 halving event is only a few days away.
SaTT appears in the famous Cointelegraph media in particular about the launch of its advertising product on Facebook and twitter.
In the same timeframe, the company had also announced that Richard Wang, a Partner and established investor At DraperDragon Digital Fund had joined the SaTT team as an advisor and investor. They also confirmed that Mr. Wang will be leveraging his expertise as a renowned VC to assist the project in completing the last phase of its ICO.
Cryptocurrency exchange seems to be doing a lot in the cryptocurrency industry, in the past week, the exchange announced the launch of its second blockchain that will run parallel to its first chain. This comes two weeks after Binance acquired the world’s biggest coin data reporting website, Coinmarketcap.
Binance had made known in its whitepaper that the new contract-enabled chain will use the Ethereum’s Virtual Machine to let its developers build decentralized apps (DApps).
This will enable developers to deploy DApp between the Binance chain and EVM with minimal or no code modification. BNB will be used as gas in this new smart chain and the ecosystem will adopt a Proof-of-stake-like consensus.
Most Bitcoin holders are getting more enlightened with the dangers of leaving their assets on centralized exchanges for a long time. Traders that leave funds on exchanges are likely to be day traders. On April 12, the number of Bitcoin (BTC) exchange deposits hit the lowest point since August 2016, while the amount of Bitcoin held on exchanges is at the same level as the mid-2019 volume.
This trend of Bitcoin holders moving their assets away from exchanges have been around for a while. This has taken a negative toll on the volume of most exchanges while others have been adversely affected. The amount of Bitcoin held by BitMex and Bitfinex has also dropped significantly in the last few weeks.
With increased adoption comes the rapid rise in Crypto phishing and other fraudulent activities. Fraudsters have been on the loose to trick crypto traders into revealing sensitive information that could render their assets vulnerable. In response to this, Popular Ethereum (ETH) block explorer Etherscan has launched a machine-learning powered surveillance engine to flag ETH and wallets that are associated with illicit activity.
In a blog post dated April 14, Etherscan announced its ETHProtect detection system. The software which adopts a high-level machine intelligence will roll out “daily user reports on suspicious fraudulent activities” which will be reviewed and verified by Etherscan’s security research analysts.
Top Adoption Of The Week
Despite the non-existent of a favorable crypto regulation law in China, the Nation’s adoption for Blockchain has been blowing hot in recent times. China and its federal authorities are aiming to form national standards for blockchain and DLT with help from a new technical committee.
The government has drafted an official notice that puts together a technical committee of 15 organizations to devise national standards for blockchain and distributed ledger technology. China so far has been leading in blockchain adoption and holds the highest number of blockchain patents.
These developments precede the just concluded basic functions of its central bank digital currency. The government is already in the process of drafting laws to start circulating the digital yuan.
Top Crypto Market Sentiment
“Build it, they will come”, the saying still holds true for crypto projects. There has been a common trend in most crypto projects that have been declared dead in the past. The majority of which had failed to innovate. A recent study had shown a strong correlation between crypto prices and their underlying code.
Essentially, if developers work on multiple assets, those assets will share similarities in market action. This goes to show that the value or market price of a coin has a lot to do with the quality of developers rallying behind the project. It further reveals that projects backed by quality coding have had the greatest returns for investors. This recent finding could usher in new standards for crypto-asset fundamental analysis.
Bitcoiners will always be like, “Afterall, I am here for the technology!”