BitDigest June 11 · Issue #677
Jun 11, 2020
Author
- Bitcoin failed another attempt to break $10,000 last night and has fallen back to $9,800 levels
- The Bank of Korea identified blockchain and the development of a CBDC as a top priority in its new 10-year plan
- Russia’ Minister of Economic Development believes a regulated and controlled crypto market would operate better than a straight out ban
Weekly Stock Review
Highlights from the North American listed crypto, blockchain and mining stocks:
- Interest in Canaan (NASDAQ: CAN) has jumped 47% this week, with the average volume braking 1 million shares.
- The premium to NAV on the Grayscale Bitcoin Trust (OTCX: GBTC) increased 28% while the premium on the Grayscale Ethereum Trust (OTCX: ETHE) is nearing 850% after gaining 7% this week.
- Hut 8 Mining (TSX: HUT.TO) filed a preliminary prospectus last night in connection with an overnight marketed public offering to raise $7.5 million at a price of $1.45 per Unit
A Very Expensive Mistake?
The crypto market was surprised yesterday when a seemly small ether transaction of $130 suddenly had a transaction fee of $2.6 million. Everyone started providing their thoughts on the transaction. Was it a mistake: confusing the transaction amount and fee, a fat finger error, maybe even an attempt to launder the crypto in partnership with a miner? Fortunately in this case, the mining pool associated with the specific block froze the transaction so it was not processed.
