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Bitcoin News Roundup for June 18, 2020
With an Austrian app that aims to track COVID-19 now including blockchain, CoinDesk's Markets Daily Bitcoin news roundup is back!
Updated Dec 6, 2022, 6:28 p.m. Published Jun 18, 2020, 4:00 p.m.
With an Austrian app that aims to track COVID-19 now including blockchain, CoinDesk's Markets Daily Bitcoin news roundup is back!
STORY CONTINUES BELOW
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This episode is sponsored by Bitstamp and Ciphertrace.
Today's stories:
Bitcoin Still Undervalued After Q2 Rally, Price Metric Shows
Bitcoin's Mayer multiple indicates the cryptocurrency is undervalued despite having rallied by over 40% this quarter.
Trump Told Treasury Secretary to 'Go After' Bitcoin, Bolton Book Reportedly Claims
Former national security adviser John Bolton is said to have revealed the conversation in his book, scheduled for publication next week.
Austrian Government Funds Development of Blockchain-Based COVID-19 App
Austria's economic affairs ministry awarded a $67,600 grant to a project called QualiSig, which uses the Ardor blockchain to verify COVID-19 testing.
Russia's Ministry of Justice Latest to Criticize Proposed Crypto Ban
Russia's Ministry of Justice is the latest government authority to oppose a proposed crypto ban, seeing inconsistencies in the bill's stipulations
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
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- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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KBW upgrades TeraWulf to outperform, sees AI pivot as catalyst for sharp growth
The bank raised its its price target on the shares to $24 from $9.50.
What to know:
- KBW upgraded TeraWulf to outperform from market perform and lifted its price target from $9.50 to $24.
- The bank said AI and HPC leasing will eclipse bitcoin mining as the company's main earnings driver.
- Rapid EBITDA growth and valuation upside is expected as lease revenues scale.
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