TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. The US HEROES Act stimulus payments will be distributed by traditional means. 60% of all the BTC has not moved in more than a year. Discovery Science is set to air a Dragonchain documentary. Former Russian Post Office Chief arrested for mining cryptocurrency in his offices. The number of blockchain deals is in decline since last December, and Cryptophyl delivered its DROP airdrop for May.
HEROES Act Will Deliver Stimulus Payments Via Traditional Means
The HEROES Act, planned to be a $3 trillion follow up to the stimulus payments brought by the CARES Act, will deliver these payments via traditional means, ignoring digital payments. The HEROES Act will use direct deposits or paper checks to distribute these funds, even as some of the citizens that have received their payment in these forms have mistakenly destroyed them, believing it was junk mail. The earlier CARES Act examined the possibility of digital dollar accounts, but it was not approved.
60% of All BTC Has Not Moved in More Than a Year
60% of the #Bitcoin supply hasn't moved in over a year, showing increased investor hodling behaviour.
— glassnode (@glassnode) May 29, 2020
Glassnode, a market data firm, revealed that most of the BTC available has not been moved in more than a year, showing “increased investor hodling behaviour,” according to a Twitter post. HODLing (hold on for dear life) has been a behaviour encouraged by a part of the Bitcoin community, even going to the extreme of saying hodling Bitcoin is its main use. According to Glassnode, this could mean good news for the whole cryptocurrency environment, because the last time they saw these levels was before the 2017 bull market.
Discovery Science to Feature Dragonchain in New Docu-Series
Dragonchain, a relatively obscure cryptocurrency created in 2014, will be featured in a documentary produced by Vision Tree Media to be aired on Discovery Science. The series, titled Open Source Money, will tell how this cryptocurrency was created and inscribed in the grander scheme of the cryptocurrency world. “The limited documentary series features the untold, heroic story of Dragonchain,” according to their press release. The film was financed entirely with COIIN, the cryptocurrency issued by Vision Tree Media, the producer.
Former Russian Post Office Chief Arrested for Mining Crypto at Work
The Russian police arrested a former post office chief for using the network of his office to mine cryptocurrencies. The man supposedly used the power grid of the facilities to mine cryptocurrencies for more than six months, using “professional hardware,” heavily suggesting he used ASICS back in September 2019. While the name of the officer was not divulged, he will be charged for “abuse of power,” according to Russian law. The local post office faced losses of almost 30,000 rubles, or $500, according to the investigation.
Number of Blockchain Deals in Decline Since December 2019
The number of blockchain deals made has been in decline since last December, according to data from The Block. Part of this reduction would have to be influenced by the coronavirus pandemic and the decline of the world economy. Despite this, the money invested in dollars has risen, perhaps showing investors could be consolidating their money in big, less risky investments rather than expanding them. The median deal size for last month was $10 million, according to research.
Cryptophyl Completed May DROP Airdrop
We've just completed May's airdrop of 30,045 DROP tokens built on #SLP
~75% of DROP tokens are now in the wild 🐯
We airdropped 9 DROP ($2.50) for every BCH traded, with over $825,000 traded this month. Equals over 1% in negative fees!
— Cryptophyl (@cryptophyl) May 30, 2020
Cryptophyl, the SLP token exchange, completed its DROP airdrop round for May. According to its Twitter post, Cryptophyl airdropped more than 30,000 DROP to active traders last month, 9 drop per every BCH traded. DROP is the official token of the exchange, and it’s airdropped to customers depending on their trading volumes. More than 75% of the DROP created is already in the hands of traders. Cryptophyl recently received a UI revamp that included the introduction of dark mode, among other improvements.
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