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1.5 Times More Bitcoin is purchased by Grayscale Than Daily Mined Coins

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1.5 Times More Bitcoin is purchased by Grayscale Than Daily Mined Coins

Kevin Rooke Self -reliant developer projects Grayscale’s amount to its bitcoin stockpile to a price parallel to 1.5 times of the new BTC mined after the Bitcoin halving.

Cryptocurrency fund manager Grayscale Investments is accumulating Bitcoin at a rate similar to 150% of the new coins generated by miners from the May 11 block reward halving.

Kevin Rooke, self-reliant Grayscale, delivered information that Grayscale has added 18,910 BTC to its Bitcoin Investment Trust since the halving, and from May 11, 12,337 Bitcoins have been mined only.

1.5 Times More Bitcoin is purchased by Grayscale Than Daily Mined Coins 1

CEO, Changpeng Zhao Binance re-released the chart, commenting: “There isn’t enough new supply to go around, even just one guy.”

According to Kevin, Grayscale has bought around 34% of the total mined coins in Q1 if 2020. Grayscale accumulated 60762 BTC over days. The average weekly investment in Q1 2020 is $29.9 million that is more than 800% growth over a year.

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Kevin’s latest data shows that Grayscale has increased the buying of bitcoin by 100% as compared to Q1 2020. The average daily buying in Q1 is 607.62 BTC, which is now increased to 1112.35 BTC daily.

Grayscale Echos Off On CBDCs
The company desired to reproof analogies differentiating to central bank-issued digital currencies (CBDC) in the latest feedback issued by Grayscale.

“CBDCs are sometimes viewed as synonymous to, or as replacements for, digital currencies like Bitcoin, but they represent a meaningful departure from the decentralized protocols inherent to many cryptocurrencies,” the report stated.

Grayscale added :

“CBDCs attempt to upgrade payment infrastructure while Bitcoin is an attempt to upgrade money. If CBDCs gain traction, they may bolster the value proposition for Bitcoin and other digital currencies,”

The report entitled the feeling of economist John Vaz, who just said to Cointelegraph that CBDCs contain “a kind of rearguard action being fought by the central banks because they don’t like cryptocurrency.”

Vaz noticed, “Central bank digital currencies are probably more about tracking money than providing benefit.”

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Terra Casino That Could Burn 24 Billion LUNC within 6 Months Goes Live

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Terra Casino, an online bookie dedicated to burning LUNC tokens, has been launched. Although the transparency of Bookie’s LUNC Burn is still a thing of concern within the Terra Classic community, it has the capability of burning about 24 billion LUNC within six months. The new development was announced via the official Twitter handle of […]

The post Terra Casino That Could Burn 24 Billion LUNC within 6 Months Goes Live appeared first on Times Tabloid.

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Bank of America to Leverage Ripple ODL Services Once XRP Lawsuit Ends, Garlinghouse Affirms

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Ripple, the crypto solutions company which offers cross-border payment services is also known for its On-Demand Liquidity (ODL) merchandise. Whereas numerous fintechs have partnered with Ripple to use its ODL services, the ongoing XRP lawsuit has hindered more enterprises from joining forces with the San Francisco-based crypto firm. Among the financial companies halting their adoption […]

The post Bank of America to Leverage Ripple ODL Services Once XRP Lawsuit Ends, Garlinghouse Affirms appeared first on Times Tabloid.

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Terra Classic (LUNC) Defeats Bitcoin (BTC) in the Binance Showdown Contest

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Terra Classic (LUNC) came out as the winner in the just-concluded Community Showdown contest hosted on Twitter by Binance, the world’s largest digital assets exchange. This goes further to show that support for LUNC remains high, despite the predicament the project experienced in early 2022. Some weeks ago, Binance rolled out a hashtag competition on […]

The post Terra Classic (LUNC) Defeats Bitcoin (BTC) in the Binance Showdown Contest appeared first on Times Tabloid.

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