{"id":1122,"date":"2020-05-18T17:20:26","date_gmt":"2020-05-19T00:20:26","guid":{"rendered":"https:\/\/synq.tech\/a\/?p=1122"},"modified":"2020-05-18T17:21:06","modified_gmt":"2020-05-19T00:21:06","slug":"may-2020-weekly-recap-3","status":"publish","type":"post","link":"https:\/\/synq.tech\/a\/2020\/05\/18\/may-2020-weekly-recap-3\/","title":{"rendered":"May 2020 Weekly Recap #3"},"content":{"rendered":"<h1 style=\"text-align: center;\">May Weekly Recap 3<\/h1>\n<pre style=\"text-align: center;\">May 12th - May 18th, 2020<\/pre>\n<p>Welcome to our 3rd weekly recap for May.<\/p>\n<h2><strong>Overview\u00a0<\/strong><\/h2>\n<p><img loading=\"lazy\" class=\"aligncenter size-large wp-image-1123\" src=\"https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/05\/may-3-recap-1024x630.png\" alt=\"\" width=\"1024\" height=\"630\" srcset=\"https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/05\/may-3-recap-1024x630.png 1024w, https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/05\/may-3-recap-300x185.png 300w, https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/05\/may-3-recap-768x473.png 768w, https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/05\/may-3-recap-1536x945.png 1536w, https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/05\/may-3-recap-2048x1260.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h2>Crypto News<\/h2>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li><a href=\"https:\/\/www.coindesk.com\/stablecoin-supply-breaks-10b-as-traders-demand-dollars-over-bitcoin\"><strong>STABLECOIN SUPPLY BREAKS $10B<\/strong><\/a><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: none;\">\n<div id=\"node-1\" class=\"article-pharagraph\">\n<div id=\"node-1\" class=\"article-pharagraph\">\n<p>The value of assets for all stablecoins surpassed $10b on Tuesday, having surged by over 70% in just two months, according to Coin Metrics. Most of the stable coin growth comes from tether, which represents almost 90% of the total stable coin supply. The largest tether markets measured by traded volume are supported by two Asia-based exchanges, Binance and Huobi.<\/p>\n<\/div>\n<\/div>\n<ul>\n<li><a href=\"https:\/\/news.bitcoin.com\/cryptocurrency-hedge-funds\/\"><strong>$2B CRYPTO HEDGE FUND INDUSTRY SET TO GROW SIGNIFICANTLY<\/strong><\/a><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: none;\">\n<div id=\"node-1\" class=\"article-pharagraph\">\n<div id=\"node-1\" class=\"article-pharagraph\">\n<p class=\"text \">Cryptocurrency hedge funds\u2019 assets under management more than doubled in 2019, according to a new survey by PWC and Elwood Asset Management Services Ltd. The data comes from \u201cthe largest global crypto hedge funds by assets under management (AUM).<\/p>\n<\/div>\n<\/div>\n<ul>\n<li><a href=\"https:\/\/news.bitcoin.com\/canadian-firm-hut-8-reports-bitcoin-mined-in-q1-declined-54-due-to-price-volatility\/\"><strong>CANADIAN FIRM REPORTS BTC MINED IN Q1 DECLINED 54%<\/strong><\/a><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: none;\">\n<div id=\"node-1\" class=\"article-pharagraph\">\n<div id=\"node-1\" class=\"article-pharagraph\">\n<p>For the three months to March 31, 2020, the Canadian bitcoin firm, Hut 8 Mining, said it mined 1,116 BTC, down 54% from the 2,405\u00a0BTC\u00a0a year earlier. It blamed the decline on \u201cincreasing network difficulty (that) impacted the company\u2019s production negatively\u201d.<\/p>\n<\/div>\n<\/div>\n<ul>\n<li><a href=\"https:\/\/news.bitcoin.com\/bitwala-bitcoin-interest-account-4-3-annual-rate\/\"><strong>BITWALA LAUNCHES BTC INTEREST ACCOUNT<\/strong><\/a><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: none;\">A court in Shanghai, China, has reportedly ruled that bitcoin is an asset protected by Chinese law in a case that has dragged on for years. The case involves the theft of two different cryptocurrencies, one being bitcoin, from an American. The defendants argued that bitcoin was not recognized under Chinese law; the court disagreed, citing documents by the central bank, the People\u2019s Bank of China (PBOC).<\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li><a href=\"https:\/\/news.bitcoin.com\/crypto-derivatives-exchange-ftx-launches-bitcoin-hashrate-futures\/\"><strong>CRYPTO DERIVATIVES EXCHANGE LAUNCHES BTC HASHRATE FUTURES<\/strong><\/a><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: none;\">On Friday, cryptocurrency derivatives exchange, FTX, launched a hash rate futures tool that allows Bitcoin (BTC) miners to hedge against mining difficulty risk. Hash rate is the amount of processing power dedicated to a Bitcoin network at a given time and determines the strength and security of the network. FTX leverages this mining difficulty that validates bitcoin transactions.<\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<div id=\"node-1\" class=\"article-pharagraph\">\n<div id=\"node-1\" class=\"article-pharagraph\">\n<div id=\"node-0\" class=\"article-pharagraph\">\n<p>&nbsp;<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>May Weekly Recap 3 May 12th &#8211; May 18th, 2020 Welcome to our 3rd weekly recap for May. Overview\u00a0 &nbsp; &nbsp; Crypto News STABLECOIN SUPPLY BREAKS $10B The value of assets for all stablecoins surpassed $10b on Tuesday, having surged by over 70% in just two months, according to Coin Metrics. Most of the stable<\/p>\n","protected":false},"author":4,"featured_media":1124,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":""},"categories":[30,52],"tags":[81,91,92,89,87,88,94],"jetpack_featured_media_url":"https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/05\/forex-trading1.jpg","yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>May 2020 Weekly Recap #3 &bull; SynQ<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/synq.tech\/a\/2020\/05\/18\/may-2020-weekly-recap-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"May 2020 Weekly Recap #3 &bull; SynQ\" \/>\n<meta property=\"og:description\" content=\"May Weekly Recap 3 May 12th - May 18th, 2020 Welcome to our 3rd weekly recap for May. 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