Daily Crypto NewsEDITION #48, 10 October 2020

The $ Printer

Hey #Moni Maker 🥳

Today, in 2006, the VKontakte social network was launched. Much has happened since, and Mr. Durov had enough time to fight with the SEC and blow his TON project. Obviously, the creation of a decentralized payment system is not an easy task, so it is also important for us, investors, to always be alert.

Can't imagine how hard it would be to keep an eye out without #Moni digest 😉

The Federal Reserve has printed $9 trillion to stimulate the economy: The Fed's 2020 printing press has eclipsed two centuries of USD creation.

Studies show that since September 2019, the Federal Reserve has pumped over $9 trillion to primary dealers through REPO operations. A recently released investigation report shows that the U.S. central bank provides a daily credit report, but the Fed will not provide the information on the recipients. It is estimated that in 2020 alone, the U.S. created 22 percent of all dollars disbursed since its inception.

So what?

Inflation is on my mind....

We really want the banks to peacefully resign and hand over the supremacy to crypto. But it seems that it can't be done without a terrible crisis, hunger, unemployment, unrest, and other things. Only after that mankind will lean towards crypto finally (not the blogger).

The report of the British analytical company CryptoCompare says that in September, Binance bypassed Huobi and OKEx and became the largest exchange of crypto derivatives by trading volumes.

The total trading volume for the month was $164.8 billion at Binance, $156.3 billion at Huobi, and $155.7 billion at OKEx. BitMEX was ranked fourth with a volume of $56.4 billion.

So what?

Binance is good at pretty much everything. No scandals, no hype trains - they just quietly do their thing, that's it.

Good bros!

The processing power of the Bitcoin network (hashrate) exceeded the last historical maximum, having passed the 170 EH/s mark.

Since halving, the hashrate has grown by more than 40 percent, which may indicate that, despite the block subsidy's halving, more and more miners are joining the Bitcoin network. Miners increase overall network security and investment attractiveness.

So what?

Just a year of records and anti-records. Mining, probably, will soon find a new breath... we bet on 2021. Buy GPUs! (not financial advice!)

According to the report of The Block, in the third quarter, the volume of bitcoin transactions increased by 25% compared to the previous period. The amount of value transferred over Bitcoin increased from $180 billion to $225 billion.

So what?

Volumes are growing, and our Bitcoin has already passed 11k! Goooood!

On this positive note, we will finish the Digest and wish you a good weekend! See you on Monday 😉.