๐Ÿ—ž Daily Crypto News, February, 7th๐Ÿ’ฐ

in bitcoin โ€ขย  2 months agoย  (edited)

  • Major DeFi Milestone: Total Value Locked Hit USD 1 Billion ;
  • Twitter, Square Stock 20% Price Surge Boosts Bitcoin Lightning Network ;
  • Ripple Co-founder Jed McCaleb Sold a Billion XRP and Has 4.7B Left ;
  • Chinaโ€™s Coronavirus Whistleblower Is Now Memorialized on Ethereum ;
  • How Blockchain Will Track Taxes (and Tax Cheats) ;
  • ๐Ÿ—ž Daily Crypto Calendar, February, 7th ๐Ÿ’ฐ
  • STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

๐Ÿ—ž Major DeFi Milestone: Total Value Locked Hit USD 1 Billion

We have been reporting for a while now about the massive growth the DeFi (decentralized finance) ecosystem is experiencing, and today, the Cryptoverse saw another major milestone reached - total value locked in DeFi surpassed USD 1 billion, before dropping below this threshold again.

The total value locked (TVL) has been steadily climbing since December 2017, seeing substantial growth in 2019. It has been surpassing new all-time highs one after the other for the entire 2019, displaying an explosive growth of DeFi. Compared to February 2019, the TLV is now 262% higher, according to DeFi Pulse.

Maker still dominates the space in a major way - 59.7% of it - as it currently has USD 597.1 million in assets locked up, and it itself has been reaching new all-time highs since the beginning of February. Prior to that, its highest point was USD 505.4 million in June 2019.

Compared to Maker, the second-placed Synthetix has USD 149.2 million locked up (dropping 1.1% in a day), and third-placed Compound has USD 125 million (rising 3.3% in a day). The rest have less than USD 100 million each.

๐Ÿ—ž Twitter, Square Stock 20% Price Surge Boosts Bitcoin Lightning Network

Perhaps the two most prominent supporters of Bitcoinโ€™s (BTC) Lightning Network have seen their share prices rocket this week as the technology gains fresh recognition.

Data covering the share prices of Twitter and sister company Square, the payment gateway which directly supports Bitcoin, shows both companies sealed major gains in recent days.
Cash flows towards BTC, Lightning

Twitter stock (TWTR) appreciated by close to 20%, while Square (SQ) hit local highs of $81.65, almost 10% up on last week and nearly 25% since Jan. 1. The former recently revealed that it had turned its first quarterly revenues in excess of $1 billion.

โ€œ2020 is now officially an investment year, and in return, investors should expect Square to exit 2020 at an improved growth rate,โ€ investment media outlet Investorโ€™s Business Daily quoted a JPMorgan analyst as saying on Thursday.

๐Ÿ—ž Ripple Co-founder Jed McCaleb Sold a Billion XRP and Has 4.7B Left

Analysis by blockchain monitor Whale Alert suggests that Ripple co-founder Jed McCaleb sold off more than one billion XRP between 2014 and 2019.

In a Medium post published on Feb. 6, Whale Alert estimated that McCaleb has another 4.7 billion XRP left to sell, equating to around 5% of the total supply. At todayโ€™s prices, the hoard is worth more than one billion U.S. dollars, dwarfing the $135 million Whale Alert estimates he has made via XRP sales to date.

McCaleb sold another 19 million, or $5.4 million worth last month โ€” and Whale Alert believes the rate may increase this year as the agreements limiting his XRP sales expire. Specifically:

"At the current rate it would take him around 20 years to sell all of it, however, his activities have been limited by the settlement agreement with Ripple, which is likely to expire sometime in 2020."

๐Ÿ—ž Chinaโ€™s Coronavirus Whistleblower Is Now Memorialized on Ethereum

Someone has just created a smart contract on ethereum with source codes in the shape of a monument in memorial of Dr. Li Wenliang, the whistleblower of China's coronavirus outbreak, who died of the disease.

The source codes of the "Monument" contract, created around 2:30 UTC on Friday, wrote down the biography of Dr. Li in Chinese with a highlighted "R.I.P" and his contribution as a medical expert to alerting others of the danger of the virus as early as Dec. 30 โ€“ only to be reprimanded by local police later on.

The creation of the smart contract, which now becomes immutable and can't be censored on a blockchain, comes at a time when Chinese netizens are showing widespread sadness and furor on messaging application WeChat and social media Weibo.

๐Ÿ—ž How Blockchain Will Track Taxes (and Tax Cheats)

Tomicah Tillemann is the chairman of the Global Blockchain Business Council and, at Davos this year, he was interested in taxes. He spoke to Michael Casey at his council's event at the World Economic Forum.

https://www.coindesk.com/how-blockchain-will-track-taxes-and-tax-cheats?jwsource=cl

โ€œWe were really fortunate yesterday to announce a new collaboration with Ernst & Young and MIT. Together with New America, my organization, we're going to be working together to tackle the very tough challenge of tax around the world,โ€ he said. โ€œTax, obviously, is on its face about the most boring topic imaginable, but it turns out that it powers many of the most fundamental elements of our lives.โ€

๐Ÿ—ž Daily Crypto News, February, 7th๐Ÿ’ฐ

  • Apollo Currency (APL)

"The new Apollo Fintech website will be revealed on February, 7th 2020!"

  • Wanchain (WAN)

"We are closing registration and commencing the $EOS cross-chain testing on Friday."

  • RChain (RHOC)

"Mainnet will launch on Friday, 2/7/20."

  • Nash Exchange (NEX)

"Our quarterly report and AMA for Q4 2019 will be streamed online on 7 February at 18:00 UTC."

  • Bitcoin SV (BSV)

"$BSV perpetual contract will be launched at 8:00 on February 7 (UTC), and the contract market is BSVUSD."

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STEEM Trading Update by my friend @cryptopassion

Here is the chart of my last analysis :

Here is the current chart :

Again today, the STEEM did a nice move just after my analysis and we broke the resistance line at 0.21$. It was a very good news for the STEEM. However, due to the consolidation of the BTC, the STEEM is consolidating also just under the resistance line at 0.21$. Nothing drama as it is not invalidating that nice UP that we just experienced. Let's see how many times the STEEM will consolidate before the next move.

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Last Updates

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Sort Order: ย 
ย  ยท ย 2 months agoย 

Nice update ๐Ÿคฉ

Posted using Partiko iOS

ย  ยท ย 2 months agoย 

Thank you ๐Ÿ™ mate

ย  ยท ย 2 months agoย 

good informations you have shared...

Posted via Steemleo

ย  ยท ย 2 months agoย 

Thank you ๐Ÿ™ my dear

ย  ยท ย 2 months agoย 

Hey! I think you must be smiling non stop!! Feeling so good now!!?

ย  ยท ย 2 months agoย 

A little but I ainโ€™t rich yet ๐Ÿ˜ญ

ย  ยท ย 2 months agoย 

i love your sense of humour

Posted via Steemleo

ย  ยท ย 2 months agoย 

Oh! Donโ€™t worry! Your time will come to shine soon! I am also trying to save up for my project of digging a well on my land! Water is very essential!

You work very hard so the reward will certainly come to you!!

Good luck and lots of wealth!

ย  ยท ย 2 months agoย 

these are wonderful updates...

Posted via Steemleo

ย  ยท ย 2 months agoย 

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