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Grin and Beam Both Greatly Outperforming Monero and Zcash

  • Alex Morris
    📊‍ Infographics

    The US, China, and Russia are keen on the new-generation privacy coins


Grin and Beam Both Greatly Outperforming Monero and Zcash
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Harry Potter-inspired privacy coins Grin and Beam, which are both based on the Mimblewimble protocol, managed to score significantly more website views this January than Monero and Zcash. The two projects appear to be even more private and scalable than their already established competitors, but naysayers still scoff at a possibility of them making it big in the cryptocurrency market.


Both surpassing the biggest privacy coins

In January, Beam and Grin both scored more website views than Monero and Zcash combined. Grin, which was only launched on Jan. 14, is in the lead with 621,710 views. The new generation of privacy coins is popular with visitors from the US, China, and Russia.    

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While Beam charges a 20 percent fee to support the network, Grin relies on voluntary participation of its members. On top of that, Grin is ASIC-resistant because of the Cuckoo cycle (Beam uses the Equihash algorithm).  

Not a threat?

As U.Today reported earlier, Zcash Company CEO Zooko Wilcox claimed that the Mimblewimble-based coins are not serious competitors, calling them ‘fragile and limited.’ Nevertheless, he’s still glad that this sector is gradually growing bigger, and he praised the developers and the communities behind Beam and Grin.

Recently, Beam enjoyed a substantial amount of coverage after announcing its forthcoming partnership with Litecoin (the latter also witnessed a 36 price spike due to its foray into the privacy coin niche).  

Cover image via u.today
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Institutional Interest in Bitcoin Continues to Grow: Report

  • Alex Morris
    📊‍ Infographics

    Institutional Bitcoin trading volumes have been on the rise since the beginning of April, but there is only one winner in this game
     


Institutional Interest in Bitcoin Continues to Grow: Report
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According to a new study published by Blockchain research firm Diar, institutional Bitcoin trading volumes are growing for the fourth consecutive month. The fact that the number of CME futures contracts skyrocketed since the beginning of April is the icing on the cake.

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CME’s dominance

 As reported by U.Today, CME Bitcoin futures saw their daily trading volume increase by a whopping 950 percent with 22,542 contracts on Apr. 4. In fact, the sudden rise in Bitcoin price was linked to the expiration of CME futures.  

So far, that level of interest remained steady with 11,873 contracts traded on Apr. 11.


Institutional Interest in Bitcoin Continues to Grow: Report

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The only winner

With CBOE pulling the plug on Bitcoin futures due to its inability to compete with its Chicago-based rival CME, there is a clear winner in this race. While Diar calls CBOE ‘the biggest loser’, Grayscale's Bitcoin Investment Trust (GBTC) is not exactly on the winning side, either. It now accounts for 24 percent of the market, lagging behind CME (a far cry from its 50 percent market share back in January 2018).

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New heights

The dominance of institutional products has been steadily rising since January. As of April, institutional money is responsible for 19 percent of the total Bitcoin trading volume (almost 8 percent more than during the market peak in January 2018). However, it has yet to match its 24 percent market share that was recorded in July.

Cover image via u.today
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