This Week in Cryptos: All Eyes on Sun- Buffet Lunch While Bitcoin Dominance Grows


Key highlights

  • Its less than a week for Sun- Buffet Lunch
  • 5 Top Cryptos are now dead
  • Grin executed first hard fork
  • ZCash conducts “friendly fork”
  • Bitcoin now over 65% dominance

Its less than a week for Sun- Buffet Lunch

The upcoming lunch between Tron CEO Justin Sun and billionaire Oracle of Omaha Warren Buffett has grown further. After inclusion of Litecoin creator Charlie Lee and Jeremy Allaire, the CEO of Circle, Helen Hai, Founder of Made in Africa Initiative, Head of Binance Charity and Goodwill Ambassador, UNIDO Regional Office has accepted the lunch invite. Sun seeks to help Buffett, a vocal Bitcoin skeptic, see the light for cryptocurrency’s ability to impact the world positively, as well as an asset class worth exploring


5 Top Cryptos are now dead

The “Survival of the Fittest” has come to cryptos and a lot of coins that came in the frenzy of 2017 are dying slowly. A report by leading media house has noted five tokens pronounced “dead” for a variety of reasons. The list includes Emercoin, NEM, Bitconnect, Bitcoin Diamond, and Universa, for reasons running the gamut from theft, Ponzi Schemes (you know which one this is), low liquidity, and lack of liquidity.

Grin executed a first hard fork

Grin has already gained a lot of limelight due to its privacy features. This week, it added another milestone as the coin -Grin executed first hard fork. With the backward-incompatible fork, the company blocked the possibility of mining the coin with Application-Specific Integrated Circuits (ASICs), along with the integration of “bulletproof rewind scheme” for its wallets. Grin developer John Tromp revealed that the decision to execute a hard fork was taken even before the launch of the digital currency in January.

ZCash conducts “friendly fork”

Another privacy coin, another fork story but this time a friendlier one. This week, the privacy-oriented cryptocurrency Zcash spawned a new blockchain network called Ycash. This fork is the first of its kind to boast a near-identical codebase to the Zcash blockchain but function as a separate network and de facto competitor. First announced in April, the effort is spearheaded by long-time Zcash supporter Howard Loo.

Bitcoin now over 65% dominance

Bitcoin Dominance has been on the rise this week as the dominance number sits above 65%. Even though many cryptocurrency enthusiasts and investors are still hoping for an altcoin bull season, the data shows that BTC market dominance is not showing any signs of slowing down. What this shows us is that investors have been betting heavily on Bitcoin and are not so sure about altcoins – even major ones.

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