Back in the days when workers stood around the watercooler (it wasnt that long ago) the topic of cryptocurrency might occasionally arise. Faced with a conversation that revolved around investing in Bitcoin, Ripple, Ethereum and Stellar Lumen it might have been easier to nod and smile or fake it by saying the good old Canadian dollar was good enough for you.

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Theres plenty of free material to read and enjoy on this website devoted to all things crypto, from news and opinions to instructional videos and podcasts and guides to cryptocurrency mining. What effect has the COVID-19 pandemic had on Bitcoin prices? Find out here.

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The Blockchain Association of Canada puts a maple-flavoured spin on blockchain and cryptocurrencies as it promotes the responsible adoption of blockchain technology by industries and governments across Canada. The association sees blockchain technology as a way to innovate in every sector of the economy maybe you will too. Members can enjoy regular meetups, community hackathons, training programs and solving innovation challenges, but there are plenty of free resources available as well.

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The CryptoCompare website features a free-to-access cryptocurrency ticker that provides live, up-to-date crypto prices on the most popular cryptocurrencies. Is Chainlink rising? Is XRP stable? Is Lightcoin falling? Keep tabs on your Tezos right here.

This story was created by Content Works, Postmedias commercial content division.While Postmedia may collect a commission on sales through the links on this page, we are not being paid by the brands mentioned.

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Talking Crypto: Learn to really understand the world of cryptocurrency - Financial Post

Markets:

BTC/USD is changing hands at $8660, having recovered from the intraday low of $8,535. The first digital coin has lost 4% in the recent 24 hours and 3.6% since the beginning of Monday. Now it is trading within the strong short-term bearish bias amid expanding high.

At the time of writing, ETH/USD is changing hands at $201.00. The price tested area above $210.00 during early Asian hours but reversed sharply to the downside amid increased bearish sentiments. The second-largest coin lost over 6% since this time on Sunday. Now ETH is moving within a short-term bearish trend. The volatility is high.

XRP/USD is hovering at $0.2120. The coin has recovered from Mondays low $0.2075 and lost nearly 4% since the start of the day. From the short-term perspective, XRP/USD is trading within a bearish trend amid high volatility.

Among the 100 most important cryptocurrencies, Holo (HOT) $0.0005 (+25.8%), Zilliqa (ZIL) $0.0071 (+16.6%), Hive (Hive) $0.3831 (+10.2%).

The day's losers are Streamr DATAcoin (DATA) $0.0629 (-15.2%), Hedera Hashgraph (HBAR) $0.0372 (-10.6%), Siacoin (SC) $0.0019 (-10.3%)

Chart of the day:BTC/USD, dailychart

Market

Bitcoin retreated from $9,000 once again amid growing anti-risk sentiments caused by increased tension between the US and China. Traders are anxious that the trade war between the two super-powers may be renewed and prefer to stick to short-term trading. Mike Pompeo, U.S. secretary of state, claimed that the Chinese government concealed the potential impact of Covid-19 with the rest of the world.

We can confirm that the Chinese Communist Party did all that it could to make sure that the world didnt learn in a timely fashion about what was taking place,he said on Sunday.

While Bitcoins correlation to the S&P 500s movements has weakened recently, it is still vulnerable to the downside risks amid a global flight to safety.

Industry

Bitcoins hash rate hit a new all-time record ahead of the halving. According to the data, provided by the research company Glassnode, the hash rate of the first digital coin surpassed 140 EH/s on May 3, which is the highest level on record. Notably, Bitcoins mining difficulty will be adjusted in one day, however, this even is unlikely to change the situation as miners are finding blocks in less than ten minutes.

In this difficulty era (ending in 2 days) miners are generating one block in exactly 10 minutes on average. This means diff adjustment will not change difficulty in two days (if it holds the same avg). (@digitalikNet)

Bitfinex and Tether filed a lawsuit against SunTrust bank in Georgia and Bank of Colorado in Colorado, requesting to return $800 million of customer funds frozen on the accounts of Crypto Capital that served as a payment processor for the cryptocurrency exchange Bitfinex.

As we have said before, Bitfinex is the victim of a fraud and is asserting its rights to funds taken by Crypto Capital through legal measures initiated in various countries,he said through a spokesperson.

Regulation

The District Court of New Jersey dismissed the class-action lawsuit against the mining company Riot Blockchain. The shareholders of the company accused it of manipulating its equity prices. This Colorado-based company was previously known as Bioptix, Inc. It was engaged mainly in biotechnologies. However, in 2017 it changed the name to Riot Blockchain, Inc. And pivoted to distributed ledger technologies and Bitcoin mining.

The shares of the company skyrocketed and then dropped sharply. Angered investors filed three lawsuits against the company stating that it provided false information to conceal the lack of experience in the cryptocurrency area and manipulated its share prices.

Iran licensed Turkey-based company iMiner for operating 6000 Bitcoin mining rigs in the province of Semnan. The capacity of the facility is expected to amount to 96,000 Tera hashes per second (TH/s), approximately 16 TH/s per rig on average. Notably, the Iranian government classified cryptocurrency mining as industrial activities and issued over 1,000 mining licenses both for local and foreign companies.

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Cryptocurrency Market News: Bitcoin and major altcoins live through a Bloody Monday. - FXStreet

Business payment and accounting solutions firm Gilded says companies are now turning to stablecoins as a crypto payment alternative to Bitcoin (BTC) and Ethereum (ETH).

Digital currencies offer a cheaper and faster option to traditional cross-border payment methods but the advantages do not generally apply to businesses that transact large amounts of money. Many companies find the technology too complicated, and the volatility of the crypto market also discourages the use of BTC and ETH.

In an interview with Pyments.com, Gilded chief operating officer Neal Roche says the use of digital currency in B2B payments is changing as stablecoins are easing the transition to the new technology for cross-border transactions. Stablecoins are designed to hold their value against fiat or other stable assets so that they do not fluctuate as erratically as other cryptocurrencies.

Stablecoins have seen a huge influx in the last few months. This is lowering the barrier for traditional businesses to take advantage of digital currency, versus the wild west of cryptocurrency that companies dont want to touch.

Gildeds digital currency payment solution also addresses other concerns that prevent companies from using cryptocurrency for international transactions.

Last month, Gilded announced that crypto data provider CoinMarketCap has deployed its solution for automating invoicing and instant global payments using digital currency.

Gildeds solution eliminates cumbersome setups and expert training. It also integrates credit card and bank wire transfers, so customers who are not yet ready to use digital currencies can opt for their preferred payment method.

Gilded CEO Gil Hildebrand says,

Digital currency empowers businesses to transact globally, while accelerating cash flow and minimizing fees. Our solution puts digital currency payments and accounting on autopilot, so businesses can focus on innovation and growth.

Roche is optimistic that the use of digital currency could become a norm as more businesses explore the benefitsof cryptocurrency for cross-border transactions.

Featured Image: Shutterstock/KeepWatch

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Beyond Bitcoin and Ethereum: International Companies Are Reportedly Turning to Digital Currencies for Cross-Border Transactions - The Daily Hodl

Alex Dovbnya

Russian director Nikita Mikhalkov joins the list of conspiracy theorists who spread falsehoods about Microsoft co-founder Bill Gates

Russian Oscar-winningdirector Nikita Mikhalkov has found an occult link in Microsofts cryptocurrency patent.

In a new episode of his Besogon TV show, Mikhalkov points to the fact that the name of the patent contains the devil's number, which he finds alarming:

Mikhalkov has also jumped on another Bill Gates conspiracy bandwagon about how the billionaire wants to implant microchips in all humans by funding the development of a COVID-19 vaccine.

Gates has become the target of right-wing activists because of a prescient video, in which he predicted a pandemic in 2015.

Big data company Zignal Labs more than one million social media and TV mentions that link the Microsoft co-founder to the deadly virus.

The Microsoft patent, which was revealed in late February, relies on physical activity and brain waves to mine crypto as a form of the proof-of-work algorithm. This futuristic concept has become a breeding ground for a myriad of falsehoods.

As reported by U.Today, right-wing pastor Steve Cioccolanti claimed that Gates wanted humans crypto mined despite the fact that the latter wasnt involved in the patents creation.

Gates left Microsofts board of directors back in March to focus on COVID-19.

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Diabolical Cryptocurrency and COVID-19 Vaccine: Oscar-Winning Director Has Insane Theory About Bill - U.Today

Social media giant Facebook's decision to pick up a minority stake in Reliance Industries-owned Jio is likely to boost the adoption of cryptocurrency and blockchain technology in the country.

According to experts tracking this development, this may result in Reliance Jio piloting a cryptocurrency that can be unilaterally used for discounts or reward points within its telecom, entertainment and e-commerce businesses, once regulatory hurdles are cleared. The behemoth is also expected to look at using blockchain technology for easing supply chain constraints, they said.

"It certainly is a significant development considering that both the giants have a massive interest in blockchain and cryptocurrency. It will only be a matter of time before we see the two forces join to bring in some blockchain or cryptocurrency-based payments into the already thriving digital payment space in India," said Ashish Singhal, co-founder and CEO of Cruxpaya cryptocurrency exchange aggregator platform.

Singhal also said the Mukesh Ambani-led conglomerate may use blockchain technology for tracking inventory of Kirana stores and thereby also use of a stable coin like Libra or other crypto assets for payments. This comes as Jio Mart has already started interacting with customers of Kirana stores on the use of WhatsApp for grocery orders in Navi Mumbai, Thane and Kalyan in Mumbai.

ALSO READ: Six-fold increase in food grain transport by South Central Railway in April

"When Facebook and Jio combine, it's an obvious next step for them to explore blockchain crypto-related initiatives in India. Both are highly innovative companies and I dont think that they would sit on the sidelines while the world moves ahead in crypto," said Nischal Shetty, founder of WazirX, a cryptocurrency exchange backed by Binance. Binance is the world's largest cryptocurrency exchange in terms of trading volumes.

"WhatsApp trying to crack payments market in India also brightens the chance for crypto initiatives emerging from this partnership," Shetty said, adding that a crypto loyalty token that can be used in Facebook and Jio properties would be a good first step to attract users for early adoption.

"Another possibility could be deploying a centralised closed-system, a unidirectional cryptocurrency that could be used only in the Reliance universe of Jio phone, Ajio e-commerce store or JioMart," said Ashim Sood, a Supreme Court lawyer, who appeared for the Internet and Mobile Association of India (IAMAI), which had obtained a favourable ruling last month in the case of the Reserve Bank of India's ban on cryptocurrency.

ALSO READ: Steel output slumps 13% in March due to Covid-19, steepest fall in 8 years

It is similar to a reward points system or video-game points that can be exchanged for discounts which will have a straightforward valuation and which could limit speculation.

Last week, Facebook announced it would invest Rs 43,547 crore ($5.7 billion) in RIL's wholly-owned subsidiary Jio Platforms to expand its presence in India for a 9.9 per cent stake in Jio. This transaction also marked the largest foreign direct investment for a minority investment in India.

Last August, Mukesh Ambani announced to build the world's largest blockchain networks in the world with tens of thousands of nodes, at the company's annual general meeting.

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Jio-Facebook deal likely to boost adoption of crypto-blockchain in India - Business Standard

The Bitcoin market rose by more than 20 percent on its year-to-date timeframe, beating Gold, Oil, the S&P 500, and every top traditional asset. But the cryptocurrencys surplus inflows failed to match the ones attracted by money-market funds.

Data provided by EPFR Global showed that cash and cash-based instruments drew about $91.5 billion in 2020, bringing its total YTD above $1.1 trillion. The institutional data aggregator further noted that funds into the bond market went over $10 billion three weeks in a row, adding that flows into the European bond funds hit a 30-week top.

Money market funds pitted against other fund groups | Source: EPFR, FT

At the same time, net inflows into the U.S. and global market bonds boomed.

The vast capital inflow appeared as investors shunned risk assets amid concerns about the deadly coronavirus pandemic and its impact on the global economy. Analysts at Bank of America ran a survey in April 2020 that showed institutional investors now hold more cash than they did after the 9/11 terrorist attacks.

Bitcoin, a modernly perceived safe-haven asset, was to pose as an emerging competitor to traditional hedging assets. But the cryptocurrencys sudden price crash in March led it to swap the haven narrative for that of risk-on. It had since followed the S&P 500 index to its falls and rebounds.

The bitcoin market capitalization rebounded alongside the U.S. benchmark from their March lows on optimism about expanding stimulus aid. But even with a $28.6 billion YTD turnover, the cryptocurrency failed to beat money-market funds.

Bitcoin market cap | Source: TradingView.com

The $63 billion difference between the net inflows in the bitcoin and money-markets appeared extraordinarily polarized for an asset that claims to be a safe-haven.

Edward Moya, a senior market analyst at foreign-exchange brokerage OANDA, noted back in March that cash stockpiling erased value out of the cryptocurrencys market cap.

He meanwhile added that even with a recovery in risk appetites, mainstream investors would stay away from bitcoin.

I think the big problem with bitcoin is that the regulatory pressures are not going away any time soon and youre just seeing a lack of confidence in risky assets, Mr. Moya told Money.

Some top analysts within the cryptocurrency space, meanwhile, see cash as a short-term hedge for investors. They argue that the US dollar and in fact, every national currency, carries the risks of inflation. Its oversupplied status leads investors, especially millennials, towards deflationary alternatives.

Bitcoin, with its 8,000 percent-something bull run in a decade and a definite supply cap, could, therefore, behave a long-term hedge for anybody who wants averse risks from its investment portfolio.

Even a portfolio with 90% garbage that goes down, and 10% Bitcoinwill do well, asserted finance broadcaster Max Keiser.

So far, bitcoin is doing well albeit lesser than cash.

Photo by Dmitry Demidko on Unsplash

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Bitcoin Attracted $63 Billion Less Than the Money Market YTD, What Does This Show? - Bitcoinist

According to a new study, the total trading volume of cryptocurrency derivatives has increased dramatically by over 300%.

At the same time, BitMEXs leadership position in the field has been challenged by Huobi, OKEx, and Binance.

And amid the most apprehensive days of uncertainty prompted by the eventual aftermath of the COVID-19, the cryptocurrency market went through a substantial losses. Most assets plunged by as much as 50% in mid-March.

During these times of hyper volatility, however, trading volume was surging, especially on cryptocurrency derivatives trading platforms.

According to the report compiled by TokenInsight, in Q1 2020 alone, the total futures trading volume in the industry reached $2,1048 trillion, an increase of 314% from Q4 2019.

The graph above also demonstrates the yearly interest growth in futures trading. The total market turnover in Q1 2020 is approximately eight times higher than Q1 2019.

The average daily trading volume of the whole market in this quarter was roughly $23.3B, which is a 274% increase from last year.

As the price was going down at unprecedented rates, however, so did liquidations. BitMEX alone saw just shy of $500 million worth of liquidated positions in less than a few hours.

Over 90% of the futures market volume came from three major asset contracts. Bitcoin was accounted for 78% of the market share, while Ethereum has 9%. A bit surprisingly, EOS took the 3rd spot with 3%.

In terms of trading volume by exchanges, the paper concluded that BitMEXs leading position has been taken.

The data from Q1 2020 indicated that several exchanges had total futures turnover exceeding $100B. Those included the new leaders in this category Huobi DM ($428B) and OKEx ($417B). BitMEX ($310B) and Binance Futures ($222B) were holding the 3rd and 4th positions.

In this exchange ranking, the top three exchanges accounted for 56% of the market volume, and the top six accounted for 81%, the report outlined.

However, fully regulated exchanges have not developed significantly. CME and Bakkt trading volumes came to about $6.83B, and $1.51B, respectively. Of course, its worth noting that both of them are oriented towards institutional clients which require a lot more oversight and control.

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Bitcoin Accounts For 78% Of The Cryptocurrency Derivatives Market In Q1 2020, Study Finds - CryptoPotato

Cryptocurrency prices surged on Thursday, led by a big jump in bitcoin.

The entire market capitalization or value of cryptocurrencies jumped $35.3 billion in 24 hours as of 2.19 p.m.Singapore time, according to data from CoinMarketCap.com.

Bitcoin, which accounts for most of that movement, was at $9,388.30 or up 18.57% in the last 24 hours as of 2.03 p.m. Singapore time, Coindesk data showed. That's the highest level since March 7.

Cryptocurrencies saw two major bouts of selling in Marchamid the broader plunge in equity markets. But they have now recovered that ground.

Industry participants attribute this to two factors central bank monetary policy as well as an upcoming event known as bitcoin halving.

Major central banks around the world have unveiled huge stimulus packages to cushion the economic fallout from the coronavirus pandemic. They have also signaled their willingness to do more. This has been a factor behind the recent rise in stock markets in past few days, and has filtered through to bitcoin and other cryptocurrencies.

"My sense is that overall markets are not reflecting reality on the ground though, but this is also the result of the Fed in the U.S. being extremely clear that they will do anything to make sure there is economic stability," Vijay Ayyar,head of business development at cryptocurrency exchange Luno, toldCNBC.He was referring to the U.S. central bank that pledged tokeep its benchmark interest rate near zero until the economy recovers.

"We could be seeing a lot of money flowing into equities and crypto as well, as a result of the new money printing."

An eventknown as bitcoin "halving"is happening in May and it's to do with a pre-programmed change in part of bitcoin's underlying technology known asblockchain.

The bitcoin world works with so-called "miners" with high-powered computers competing to solve complex math problems to validate bitcoin transactions. Whoever wins that race gets rewarded in bitcoin.

Currently, miners are rewarded 12.5 per block mined.The rewards are halved every few years to keep a lid on inflation. By May 2020, the reward per miner will be cut in half again, to 6.25 new bitcoin.

This essentially reduces the supply of bitcoin coming onto the market. Halving is an event that happens every four years. Previous halving events have preceded big price increases in bitcoin.

"While part of this rebound may be explained by a renewed 'risk-on' attitude of global investors, it is also clear that bulls have been triggered by the upcoming halving event and the anticipated appreciation in value in the wake of it," said Matthew Dibb, co-founder of Stack, a bitcoin index fund provider.

"For those buying into bitcoin now, many see this as an opportunity to buy BTC at bargain basement rates before a price pop post halving."

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Cryptocurrency market value jumps $35 billion in 24 hours led by a surge in bitcoin - CNBC

Venture Capital firm Andreessen Horowitzannounced that it was creating a second fund dedicated to cryptocurrency investments.

General Partners Chris Dixon and Katie Haun, in a joint statement, said that the firm, better known as "a16z," will focus on next-generation use-cases of cryptocurrencies and blockchain, including in payments systems, "decentralized finance," "Web 3," and content monetization.

a16z launched its first cryptocurrency-specific fund in June 2018 with an investment of $300 million.

Dixon and Haun said they see blockchain networks as better alternatives to established payments systems like PayPal Holdings Inc. (NASDAQ: PYPL) as they don't require banking infrastructure to transfer the money, but "the bits and bytes" being transferred "are themselves the bearer instrument."

The venture capital firm also sees Bitcoin (BTC) as a potential replacement of gold as a safe haven away from fiat. The cryptocurrencies also provide a better avenue of monetization for content creators, according to the investment firm.

"Rather than engaging audiences through centralized gatekeepers that charge high rents and create self-serving rules, creators can use token models that bypass gatekeepers and give their fans a direct stake in their success," Dixon and Haun said.

Blockchain networks also providean opportunity to move the web away from the control of few corporate-owned networks, like those of Facebook Inc. (NASDAQ: FB) and Twitter Inc. (NYSE: TWTR), according to a16z.

"Blockchains enable the creation of decentralized networks that make strong commitments baked into the architecture of the network itself as to how control and money will be distributed among network participants" Dixon and Haun noted. "Don't be evil' is replaced by can't be evil.'"

a16z has been investing in cryptocurrency and related businesses going as far back as 2013when it invested in exchange desk Coinbase.

Bitcoin traded 2.04% lower at $8,846.27 at press time on Thursday. The shares dropped after having crossed the $9,000 mark earlier in the day, in anticipation of miner reward halving due in two weeks.

Other cryptocurrencies traded similarly lower. Stablecoin Tether (USDT) was slightly up at $1.01.

2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Andreessen Horowitz Creates Second Cryptocurrency Fund With $515M Investment - Benzinga

Cryptoassets are not relenting in the fight to start the month of May on a positive note. The cryptocurrency market is mainly in the green led by NEO (4.8%), IOTA (4.36%), Ripple (3.82%), and Ethereum (3.52%). Bitcoin is lagging recovery after testing $8,400 support following a reversal from April highs at $9,500. The granddaddy of digital assets is trading at $8,774 after adding 1.73% to its value.

According to Vitalik Buterin, the co-founder of Ethereum, issuance of ETH 2.0 will be reduced by a large margin. Buterin was speaking in a podcast interview with POV Crypto referred to as Internet of Money. He also touched on the features that distinguish Ethereum from Bitcoin as well as the reasons why the network is moving to a Proof of Stake algorithm.

One of the reasons why were doing Proof of Stake is because we want to greatly reduce the issuance. So in the specs for ETH 2.0 I think we have put out a calculation that the theoretical maximum issuance would be something like 2 million a year if literally everyone participates.

The ongoing testnet is recording the issuance of about 100,000 ETH per year compared to 4.7 million a year in the current Ethereum network. On the other hand, ETH 2.0 is expected to have the issuance of between 100,000 ETH and 2 million every year.

The research at Fundstrat, a global research boutique in a note to clients predicted that Bitcoin will rally to $17,000 in six months. The prediction comes after Bitcoin crossed above the key 200-day moving average in April. As long as the price remains above this moving average, BTC/USDD uptrend will remain intact.

The co-founder of the firm, Tom Lee was bullish earlier in the year when Bitcoin was trading above $10,000. He predicted that BTC will rally to $40,000 in 2020. However, the rally was intruptedby the COVID-19 pandemic. The cross above the 200-day SMA means that Bitcoin has a second shot at the rally.

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Cryptocurrency Market Update: Bitcoin rally to $17,000 in 6 months, Ethereum 2.0 issuance to reduce to 2 million - FXStreet