EOS Finally Announced Their GREAT Social Media! + Bitcoin IMPROVEMENTS!! + $70 GIVEAWAY!!!
This Monday, I have four pretty cool news items to share with you.
First up, we have the new Bitcoin improvement proposal, and how it could reduce transaction bandwidth by 75%. Then we have reports that the institutions are not just coming, they are finally here. Bitcoin Futures Volume begins to hit new record highs. In addition to this, we have Justin Sun announcing a super big win – with more details revealed on June 3rd, which is helping BTT and TRX surge like crazy. And finally, the massive EOS reveals – Block.One is launching a social media platform on the EOS Blockchain.
And now let’s announce the winner of the $10 IOTA draw from Saturday. Guys as you can see, on James’ video, I will copy and paste the Youtube Link, and then I will paste it into the Youtube Random Comment Picker website. And guys, now I am going to click on get Youtube comments and begin to start the Raffle and pick out the winner. As you guys can see, the winner is Talal Alreyati. Talal if you can please reach out to us we would be happy to reward you with your $10 in IOTA. Now for this week, we are doing a $70 giveaway in BItcoin. We will announce the winner this Saturday, by drawing out a video from this week and then drawing the winner from that video. All you need to do is to like, comment, and subscribe! And you could be the lucky winner. But that’s not it guys. We are also giving away a SafePal Hardware Wallet and also giving away $300 worth of Bitcoin tokens! All you need to do is to jump on the comments area and click on the Twitter link for the instructions.
The Market Today
And now off to the markets. You can see here that we have a pretty even mix of greens and reds. We’ve got Bitcoin increasing by 1.36%, Ether by 1.19%, and finally XRP with some nice gains of 5.33%. Notable mentions to Bitcoin SV who has managed to not only shoot up to the top 10 but stay there the last week and continue gaining by 17.14%. Moving on to the top 20, you can see here that all mostly greens across the board. Tron has slipped back into the top 20, while Cosmos is gaining by 10.94% and Ethereum Classic increases by 8.72%.
New Bitcoin Improvement Proposal Created
Moving onto the news. According to CryptoGlobe, a new Bitcoin Improvement Proposal created by prominent Bitcoin Core developers Dr Pieter Wuille and Greg Maxwell, contributions from Gleb Naumenko could reduce the “transaction brandwidth” size used by the Bitcoin network. The Bitcoin Improvement Proposal, also known as an Erlay, will supposedly lower the amount of bandwidth required to process Bitcoin transactions by approximately 75%.
Naumenko mentioned to Coindesk that:
“The main idea [behind Erlay] is that instead of announcing every transaction to every peer [on the Bitcoin network], announcements are only sent directly over a small number of connections (only 8 outgoing ones). Further relay is achieved by periodically running a set reconciliation protocol over every connection between the sets of withheld announcement in both directions.” In addition, implementing the new BIP will also save half of the bandwidth consumed by Bitcoin network nodes. It will also increase connectivity almost for free and as a side effect, it will also better withstand timing attacks.”
CME Bitcoin Futures Volume has hit all-time new Record Highs
Moving on, we have reports that the institutions are here. According to Bitcoinist, it looks like CME Bitcoin Futures Volume has hit all-time new record highs. If we look at CME’s data sheet for May 28, 2019, there is an open interest of 5,190 for Bitcoin Futures which is an increase of around seven percent from the figures published the week prior to that. Looks like there is definitely a bullish comeback with the Bitcoin token. In 2019, CME BTC futures have continued to post record figures. The Bitcoinist also reported that trading volume for CME BTC future had reached $1.3 billion. May is also a big month for the cryptocurrency industry.
According to the May 2019 Bitwise report, regulated futures trading has grown to become approximately 48% of the spot market since April 2019. So, guys, that means those record trading number form CME BTC futures only reveals one part of the picture when it comes to the bullish institutional BTC interest.
Justin Announces Big Win – BTT and TRX Surge
Moving on, we have Justin Sun here announcing this Big Win and Helping BTT and TRX Surge. Now I know we have mentioned this earlier in our videos. Sun mentioned last week that something huge and amazing could be shared and noted that he had a 70% chance to win and nail it. Justin Sun recently revealed:
I did it! Big win for the #blockchain community! Big reveal June 3. Stayed tuned!
I really can’t wait for Sun to tell us what it is. According to CryptoGlobe, some people believe that the upcoming announcement referred to the release of the BitTorrent File System (BTFS) protocol that allows users to receive and host storage and their computers with other individuals and businesses. While no one really knows what Sun is keen to announce, the BTT and TRON token has surged in the last few days.
EOS Team Announces Big Surprise: Launches Social Media Platform Voice
And last but not least, we have the announcement from Block.One. And guys remembered when we were all pondering, what is this big news EOS is going to reveals. And there’s this tagline that I love from Coindesk that I want to share with you: While Facebook pursues crypto, crypto is pursuing social media. So Block.one the startup that built the EOSIO platform is now looking to social media. On Saturday the EOS team announced that the new platform is called Voice.
The CEO Brendan Blumer mentioned that:
Our content. Our data. Our attention. These are incredibly valuable things. But right now, it’s the platform, not the sure, that reaps the reward. By design, they run by auctioning our information to advertisers, pocketing the profit, and flooding our feeds with hidden agendas dictated by the highest bigger. Voice changes that.
Blumer added that Block.one’s new social media product would not let algorithms decide what dominates and that everyone would have an equal chance of being heard.
Everyone – the user, the platform, the contributor, plays by the same rules.
And there you have it guys! That’s the news wrap for today.
What are your thoughts on this situation?
Do you think the Bitcoin Improvement Proposal will help Bitcoin gain more use in the larger public?
Are you excited that CME’s Bitcoin Futures have hit all-time highs?
What do you think about Justin Sun’s announcement? Is it going to send shockwaves through the TRON ecosystem?
And finally, are you excited for EOSIO’s voice to come out?
Remember guys, please don’t forget to like, comment, and subscribe to go into the draw to win $70 worth of Bitcoin, and if you’re feeling like you want to win Big, you could really go into the draw to win a safepal hardware wallet and $300 Bitcoin tokens, just jump on the comments area and click on the Twitter link below. It’s your girl Cindy with CryptoPIg. I’ll see you guys tomorrow.
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Disclaimer: Cryptopig content is written by a team of blockchain passionate people. We are not registered as investment advisors. Don’t take the information in this post as investment advice and make sure you do your own research before investing. Cryptocurrencies are a very risky investment, never invest more money than you can afford to lose.