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European Central Bank: Crypto Does Not Have Tangible Impact on Real Economy

The European Central Bank (ECB) stated that cryptocurrencies do not have implications on monetary policy or factor into the real economy in a May report. In the report dubbed “Crypto-Assets: Implications for financial stability, monetary policy, and payments and market infrastructures,” ECB looks into the potential impact of digital currencies on economic developments and monetary policy.

 

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Why Is Bitcoin Surging? Alternative Data Shows It’s Grown-Up

Indexica, an alternative data provider, built a custom index based on natural language processing of thousands of textual documents to try and explain Bitcoin’s 28% run-up throughout the month of April. What they found pointed to a coming of age for the cryptocurrency.

 

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Bitcoin Miners Are Currently Earning 8x More in Fees Than All Other Cryptocurrencies Combined

According to information presented on Messari.io’s OnChainFX rankings, Bitcoin accounted for nearly $580 thousand USD in fees in the last 24 hours. On May 10, 2019, at 9:50 am UTC, Bitcoin miners earned more than eight times the transaction fees than the combined total of all other cryptocurrencies listed on the site.

 

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Above $6,000: Bitcoin’s Price Spikes to 6-Month High

Bitcoin’s price rose above $6,000 on most cryptocurrency exchanges for the first time today in nearly six months. At 00:57 UTC on Thursday, the world’s largest cryptocurrency by market capitalization, which accounts for more than half of all other cryptocurrencies combined, picked up a bid and saw its price reach as high as $6,076.

 

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