Reddit to Launch Two Ethereum-Based Cryptocurrencies – May 14

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📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$9,637

Bitcoin price has shot back up toward the $10,000 mark today, with price now hovering in the high $9,000s.

Top-20 altcoins are a mixed bag, with Ethereum gaining 3% and XRP gaining 1%, while Crypto.com Coin falls 2%.

Top Stories for May 14, 2020 🔥

👉 Reddit to Launch Two Ethereum-Based Cryptocurrencies

Global online forum, Reddit, is in the process of trialing two Ethereum-based cryptocurrencies in two of its subreddits.

Members of the subreddits, r/Cryptocurrency and r/FortniteBR, are being issued tokens called “MOONS” and “BRICKS”.

The tokens are part of an initiative called Community Points, which is exploring possibilities for encouraging engagement and participation within Reddit forums.

👉 1000 “Wrapped” Bitcoin Were Minted on Ethereum Today

1000 Bitcoins were tokenized on the Ethereum network today, in the form of “Wrapped Bitcoin” (WBTC). The tokens were worth more than the entire value of the Lightning Network.

WBTC is used in decentralized finance platforms on Ethereum, as a way to transact in terms of Bitcoin holdings. Bitcoin is locked up by a centralized third party, then issued as an ERC-20 token on the Ethereum network.

👉 Bitcoin, Tether, Ethereum Now account for 90% of All Crypto Trading Volume

The total share of cryptocurrency trading volume captured by Bitcoin, Tether and Ethereum has reached 90%, up significantly from last year’s figures.

The data, presented by Messari, showed that last year, the three currencies accounted for 75% of cryptocurrency trading volume and has consistently grown since.

 

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