Trading Market Loves Tether; Charlie Shrem Reddit Bounty; BTC Mining Revenue Fell 47%

TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Tether trading keeps growing to rival bitcoin volumes. Charlie Shrem bitcoin debt bounty posted on Reddit. BTC mining revenue fell 47% after halving. Wrapped Bitcoin mints 1,000 wBTC. AMD launches Robot Cache game market featuring currency mining, and Cryptophyl implements improvements such as dark mode. 

Tether Trading Volumes Rival Bitcoin

Charlie Shrem

A new study of the cryptocurrency trading market by investigative company Messari found trading volumes have concentrated in just two assets in the last months: BTC and Tether. While the interest in Tether, the most popular stablecoin, waned a little in the days leading to the BTC halving, its volumes rose immensely since the start of 2020 compared to the growth of other cryptoassets. Other assets like Ethereum and XRP also have relatively high trading volumes compared to other currencies in the market.

Charlie Shrem $3 Million Debt Bounty Posted on Reddit

Charlie Shrem

A disgruntled Reddit user posted a message offering a bounty of $3 million for a debt incurred by Charlie Shrem, a renowned crypto personality involved loosely with the Silk Road scandal back in 2014. The Reddit user stated Charlie Shrem failed to transact 1,600 BTC in early 2013, when he was contracting services for BitInstant as a sort of payment processor, transacting millions each month. This is not the first time Shrem has been accused in this fashion: the Winklevoss twins also accused him of not buying a part of $1 million they gave him to purchase bitcoin on their behalf.

BTC Mining Revenue Fell 47% After Halving

Charlie Shrem

The situation for BTC miners is worsening every day after the reward halving, and now mining revenues dropped an astounding 47% in just one day. While most miners are betting on a sudden price increase of BTC to maintain their operations, the price has not behaved in that way, at least not in the last few days. Miners will have to rely on a developing fee market (that could also diminish the usage of the network) to sustain their operations or move operations to other SHA-256 based chains to maintain profitability.

Wrapped BTC Mints 1000 wBTC Dwarving the Whole Lightning Network

Wrapped bitcoin, a 1:1 bitcoin-backed token on top of Ethereum, minted 1,000 wBTC, a number that dwarfs the total capacity of the whole Lightning Network, BTC’s second level payment layer. With this move, Wrapped bitcoin now tops $21 million dollars in value, with 2,300 tokens in existence. wBTC’s first function is to provide liquidity to Ethereum based decentralized markets. The project is now the 8th biggest DeFi project, according to DeFi Pulse, leaving the Lightning Network in 10th place with $8.7 million locked.

AMD Launches Robot Cache Game Market Featuring IRON Mining

AMD, the second most important microprocessor company, launched a game market called Robot Cache built on top of blockchain technology and featuring currency mining. The platform claims its blockchain platform allows them to cut expenses and offer publishers 95% of the value of each purchase. The system also features opt-in mining, which permits customers to use their processing power in exchange for IRON, the official token of the platform, for more games in its marketplace.

Cryptophyl Debuts New Look

Cryptophyl, the pioneer SLP token exchange, is making some important changes to its dashboard, modernizing it and making it more useful for traders. The upgrade includes a dark theme, a heavily-requested feature, with a color palette that’s easier for users’ eyes at night. Charts for pricing have also been added, and the site has been completely redesigned to make it easier for traders on mobile devices. Cryptophyl keeps building since its inception, stating there’s still “a lot going on behind the scenes.”

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