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Bitcoin News Roundup for June 30, 2020
As Zimbabwe embarks on its fifth bout of hyperinflation in modern history, CoinDesk's Markets Daily is back with another bitcoin news roundup.
Updated Dec 6, 2022, 6:28 p.m. Published Jun 30, 2020, 4:30 p.m.
As Zimbabwe embarks on its fifth bout of hyperinflation in modern history, CoinDesk's Markets Daily is back with another bitcoin news roundup.
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This episode is sponsored by Bitstamp and Ciphertrace.
Today's stories:
Bitcoin Still Up 27% This Year Despite Dismal June Performance
Bitcoin is still outperforming the top traditional financial assets so far in 2020 – even after a dour performance this month.
Witnesses Will Vouch for Stablecoins, Digital Dollars in US Senate Hearing Tuesday
Witnesses will discuss stablecoins and tokenized dollars during Tuesday's Senate Banking Committee hearing on the digitization of money.
NYT: India Bans TikTok and Dozens of Other Chinese Apps
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LUNC Surges Over 160% in a Week as Do Kwon Sentencing and Token Burns Draw Traders
The rally is driven by speculation that a final verdict could bring clarity to the project, as well as technical factors like token burns.
What to know:
- Terra Classic (LUNC) surged 74% to $0.0000072, up 160% in the past week, on exploding trading volume, ahead of Terraform Labs founder Do Kwon's sentencing on Dec. 11.
- The rally is driven by speculation that a final verdict could bring clarity to the project, as well as technical factors like token burns, with 849 million LUNC destroyed in the past week.
- The token's momentum is also fueled by Binance's pause on LUNC withdrawals ahead of the Terra Chain's v2.18 upgrade, which aims to improve network stability, despite the token remaining volatile.
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