POKKET Weekly News: The Week In Crypto (8–14 June)

Altcoin season is accelerating further, while Bitcoin volatility reaches 3-month low as it hovers around $9,500 level throughout the week. It took another shot at $10,000 but was thwarted once again. However, we now have 17 tokens out of 36 earning triple digit interest rates due to increased volatility in altcoins.

In other news, someone paid $5.2 million in transaction fees for two ether transactions totaling $82K, two days apart. Leading to many guessing whether it was intentional or a bug.

We’ve added 1 new token this week, Huobi Token (HT). More tokens are being planned next month. Stay tuned!

While you’re at it, check out our interest rates including our top 10 earning tokens below.

Here are this week’s highlights

Number of Institutions Buying Crypto Futures Doubled in 2020: Fidelity Report

Fidelity Digital Assets said institutional sentiment was improving in relation to cryptocurrencies. “Almost 80% of investors surveyed finding something appealing about the asset class,” it said…

Data Shows Bitcoin Options Markets Are Maturing Much Faster Than Futures

Data from the crypto analytical firm Skew.com shows that bitcoin options are maturing much faster than the futures markets launched in December 2017. Skew’s data shows that the open interest in bitcoin options has risen significantly in the last few months…

Chinese Authority Freezes Thousands of Cryptocurrency Traders’ Bank Accounts

Several thousands of bank accounts belonging to cryptocurrency traders have reportedly been frozen by Chinese police as a result of an extensive crackdown on illicit activities. Frozen accounts are not necessarily involved in wrongdoing and supposedly can be unfrozen if the authority finds no evidence of illicit activities…

Russian Ministry Slams Bill to Ban Crypto — Experts Warn Easy to Bypass, Creates Black Market

Russia’s Ministry of Economic Development has informed parliament of its disapproval of the bill to ban cryptocurrency. Experts say a ban will be ineffective as people can use technology to bypass it, leading to the creation of an “uncontrolled black market”…

Indian Government Reconsiders Banning Cryptocurrency: Report

The Indian government is reportedly reconsidering a plan to ban cryptocurrency and the finance ministry has initiated related inter-ministerial consultations. The move is supposedly spurred by the supreme court quashing the banking ban imposed by the central bank, the Reserve Bank of India (RBI)…

Like POKKET’s news curation?
Follow us on Twitter to get the latest news,
or email us your thoughts.

Copyright © 2020 POKKET