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Epic Surge Adds 10% ($25bn.) To Crypto Market Overnight

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An epic surge is in the headlines of many best cryptocurrency news sites, adding more than $25 billion to the crypto market overnight as more traders and investors are active and going in again. Bitcoin is in the pole position after nearly touching the $9,000 mark, but other coins are also participating in the massive increase.

All of this managed to send BTC to 12 months high and the total market capitalization has also reached a new 2019 and ten month peak. The epic surge was well accepted in the altcoin news too, especially because altcoins were triggered by BTC’s correction.

Currently trading at above $8,700, it is clear that Bitcoin is on a roll and the main coin which is leading the epic surge. The analysts are now predicting a move to the mid $9,000 because of the strong momentum – and a potential bullish rally to $10,000 which is going to be greatly appreciated by many.

Ethereum, on the other hand, enjoyed the epic surge with a 7% added to its price, making it reach $270 before slightly dropping back. However, the daily ETH volume is back over $10 billion which is definitely good for sending the second largest crypto asset in the world up to $300 in no time.

The latest cryptocurrency news show that the top ten is a wall of green as the altcoins are making moves and recording big gains today. Litecoin is the altcoin that leads the epic surge in this space, adding 11% to its price and reaching $114 which is its highest price since June 2018. As the stats show, Bitcoin Cash and EOS are also strong with over 9% each, reaching $439 and $6.92 respectively.

Justin Sun was also featured in the coming altcoin news, sharing his excitement for TRON and BitTorrent. As the founder of TRON stated:

Something huge and amazing going about and . I will share with you after June 1. I think I have 70% to win and nail it. Fingers crossed!

The FOMO (fear of missing out) is high after the epic surge which resulted in a lot of gains. When markets are on fire like they are now, it is very possible that the rally will continue, analysts claim.

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China-Like Fiat Digital Assets Could End The Dollar Dominance: Analysis

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China-like digital fiat assets could start the fall of the dollar dominance. One of the most discussed topics in the crypto space and the major economies launching state-backed digital coins has started evolving even faster as we can see in the upcoming altcoin news.China’s central bank sped up its plans for the digital currency electronic payment and it could launch in the next 18 months while the European Central Bank is now looking at something similar. In the meantime, Russia has been working on the state-backed crypto ruble for a few years now and Sweden has its new e-krona project. Several countries have got their plans ready including Senegal and the tiny Marshall Islands have got digital coins that are stand alongside their existing currencies as well.These developments will change the international monetary system since today’s systems date to the Bretton Woods conference of 1944 which will create a stable trading environment that the allied nations agreed to set up the International Monetary Fund to enforce the set of fixed exchange rates linked to the US dollar which was also linked to gold at that time. The dollar has been in the middle of the monetary system even since despite the fact that the Bretton Woods has been replaced by free-floating exchange rates when the dollar/gold commitment was abandoned in the 1970s. About 40 percent of international payments and 60 percent of the world’s total foreign exchange reserves are in US dollars.However, the China-like fiat digital currencies could change all that. The financial dominance of America means that the Federal Reserve almost acts as the central bank of the world because the monetary policy committee decides to play with the interest rates and has enormous consequences everywhere. Along with the dollar dominance, there’s the dominance of the SWIFT international payment system. However, with the increased tensions between the world’s major powers, many believe that America plays the system in their own advantage without the proper regard for the consequences ahead.There has been a huge rise in the number of bilateral agreements between banks that allow two countries to swap the currencies directly including China. Germany and the Netherlands have also been repatriating their gold reserves from the US vaults where they have been stored.
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Lisk Laid Off 21 Employees While Staff Experts Quit The Company

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Lisk laid off about 21 employees from its company while the staff experts quit despite the solid backing of the LSK project. The project was one of the most high-profile ICOs in 2016 but now they have a hard time keeping its entire staff as we can read below in the crypto news.Lisk’s team was one of the most important features of the project and the startup had offices in Berlin as well. The long downturn in crypto assets led to a drive to make a leaner operation. The message from the co-founder Max Kordek commented in a Reddit thread:
‘’Today, at Lightcurve, we laid off 21 of our employees and terminated the contracts of three employees who were yet to join. This concludes the recent wave of terminations you may have observed. We are now ready to go completely dedicated into 2020 with a solid team of 31 individuals on the Lightcurve side.’’
The Redditors noted that most of the layoffs were a sign of problems within the project. Lisk laid off 21 employees and lost most of its delegates so now the promising network is seen as a failed project. Lisk was also supposed to become a network to compete with Ethereum but it based its smart contract and dApp functionalities on JavaScript. However, about 100 delegates of Lisk turned the network into an oligarchy and used their coins to solidify their positions. The market price of the project is also precarious despite the major expectations of the price reaching triple-digit prices to rival ETH. The LSK asset reached $32 in early 2018 but now it trades at only $0.64.Lisk made a lot of noise with its rebranding in 2017 and launched a wallet as well. However, the platform didn’t take off quite as expected and got tossed aside by the new platforms with better operations. Now the project is no longer among the top dApp or smart contract platforms. The startup still continues to operate and burn the haul of its BTC coins from the token sale. Lisk had the advantage of raising about $6 million and is now holding sufficient BTC and other assets in the long run.
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Syrian Refugee Is Teaching Cryptocurrency Basics In A Camp In Iraq

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One Syrian refugee has just proved that the crypto industry is best understood through proper education. Despite the obstacles and fact that refugees in refugee camps do not have access to information about cryptocurrency, this refugee decided to teach everyone more about cryptocurrency.Situated in the Arbat refugee camp in Iraq, the 16-year old Yousif Mohammed Nor Aldeen teaches other people about cryptocurrency. As he says, “I want to solve a problem in my community. We have a lot of problems, like corruption."Aldeen still has some of his family left behind in Damascus and is particularly fond of the idea that they could all earn and send money among their social networks regardless of borders or the strict regulations in recent years.
“People really need to know all the things about the internet and their phones and laptops,” the Syrian refugee claims. “We are in an advanced world and we should learn."
Aldeen now owns a small amount of Ether (ETH) which he said he earned through a local education program run by the nonprofit Hello Future. However, as he claimed in the ETH news, his possessions are too little to spend so he is eager to earn more.As we could see from the Hello Future founder Charlie Grosso, most of the students in Aldeen's class think of mobile devices and computers in the same way like old-school Nintendos. They know that they could play games on them but are unfamiliar with Internet or access to global networks.
“The idea of searching to verify information is unknown to them,” she said. “They just don’t have that framework.”
The Syrian refugee is obviously looking to change this and teach them everything about cryptocurrency and the latest crypto news. Even though the learning curve is steep for people in this camp, Grosso is confident that all 44 teens who took her computer literacy class quickly grasped the concept of stateless digital money.
“Two years ago, I got my first phone. Now everyone in my family has a smartphone,” Aldeen said. “I like games like Minecraft because I can build things, design things and improve my English.”
The Syrian refugee also stated that cryptocurrency "might be good for saving money because if you put your money inside a bank, the bank might steal it."
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Sweden Plans To Roll Out Crypto Krona In 2020

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Sweden plans to roll out a crypto Krona as many of the world’s central banks jumped on the crypto train. In our latest altcoin news, we take a closer look at the new plan for the new digital asset.The Swedish central bank wants to make a deal with the multinational professional services company Accenture to start the plot testing for its central bank digital currency, the e-krona. According to the reports, the new partnership is for an initial year-long run until the end of 2020. A statement from the Riksbank states:
 “The primary objective of the e-krona pilot project is to broaden the bank’s understanding of the technological possibilities for the e-krona.”
The cash usage has already started declining in Sweden which is why Sweden plans to launch a crypto version of its national krona. The central bank of the country is now working on this plane since 2017. The Accenture partnership will involve the development of the payment platform with the user interface that will enable the e-krona transactions from cards and smartphones. There has also been no confirmation from the bank that the crypto krona will see any actual use but it is highly likely because of the given circumstances.The industry observer Rhythm Trader linked crypto to the space race of our generation and it still maintained that bitcoin was the king of all crypto. Sweden has been extremely proactive towards the crypto assets than other regional countries and earlier this week the Swedish Financial supervisory Authority approved the Swiss crypto ETP provider Amun. According to the announcements, Amun is the first issuer that will deliver fully collateralized and passive investment products with cryptocurrencies as the base asset. The president of Amun Ms. Ophelia Snyder added:
 “Our mission is clear and that is to help investors more safely, cost-effectively and easily invest in crypto asset classes through our crypto ETPs. We recognize that the regulatory framework in Sweden has been supportive of such initiatives and we welcome its deliberation.”
The company wants to expand in the future especially its product offerings of crypto-asset Exchange-traded products into EU countries. Sweden is also one of the latest countries with a growing list of central banks engaging in CBDC research and development.
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