📊‍ Infographics Alexander Goborov

Today’s Biggest Crypto Winners by Name

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Nakamoto tops the crypto list with $6 billion
Today’s Biggest Crypto Winners by Name

Last week, we looked at The Biggest Crypto Owners in the World by Nation. It turns out that while Turkey’s 18% of the population reportedly own cryptocurrency, it is the United States with its 8% of the population that actually has the largest number of cryptocurrency owners, around 26 million people. That, coupled together with another fact about the US having the most computational power, miners, and Bitcoin nodes, puts the United States far ahead of its crypto rivals.

Today, we bring you the Biggest Crypto Winners by Name, a fresh list that has been put together with an aggregation technique of analyzing data from various online sources. Unsurprisingly, this list is also dominated by the Americans. Almost entirely. But not quite…

 the Biggest Crypto Winners by Name

In 7th place is Charlie Shrem (USA), an interesting character to say the least, one of the biggest Bitcoin pioneers who was at one point under criminal investigation for money laundering with a subsequent two-year prison sentence. Clearly, that did not curb the man’s crypto enthusiasm, and he is now back with a hefty $450 million, according to many sources.

In 6th place is the founder of Digital Currency Group and owner of Genesis, Barry Silbert (USA), with an estimated net worth of over $500 million. In 2014, he bought 48 000 Bitcoins in an auction held by US Marshals due to the shutting down of Silk Road; as a result, he has since been able to reap tremendous financial benefits from Bitcoin’s climb to the top.

In 5th place are the famous Winklevoss Twins (USA) with their supposed combined wealth of $600 million. While Cameron and Tyler were unsuccessful in gaining control of Facebook in the well-publicized legal battle against Mark Zuckerberg, as they were unsuccessful in creating a Bitcoin Exchange Traded Fund (ETF), they did invest religiously in Bitcoin back in 2013. Since then, the crypto exchange rate has skyrocketed and grown more than 20 times the original price making their initial investment very peachy indeed. Well, when you are twins, doubling your money may be somewhat easier.

In 4th place is Michael Novogratz (USA), a hedge fund manager and trader who began investing in cryptocurrencies back in 2013 and four years later created a $500 million crypto fund with over a quarter of that sum coming from his own pocket. Having involved himself with most major cryptocurrencies, most notably Bitcoin and Ethereum, Novogratz continued to buy and sell the various crypto units, quickly becoming a major crypto player on the market. His net worth is now estimated to be over $900 million.

In 3rd place is Tim Draper (USA), a venture capitalist and the founder of the investment firm Draper Fisher Jurvetson. Initially making his fortune through viral marketing and associated investments in such big brands as Skype, Hotmail, and Yahoo, the native Californian purchased 30 000 Bitcoins in the 2014 public auction (the very same one that gave way to Barry Silbert’s vigorous accumulation of wealth). All these well-executed efforts combined have put Draper’s wealth at over $1 billion!

In 2nd place*, we have both Ross Ulbricht (USA) and America’s very own Federal Bureau of Investigation. It must be noted that this place is entirely hypothetical: Ross Ulbricht’s funds have been confiscated. He is currently serving a double-life sentence for being the mastermind behind Silk Road and popularizing Bitcoin usage on his platform for the purposes of decentralized trade. This may sound innocent enough, but the punchline is that his infamous creation, Silk Road, traded and exchanged mainly illegal products, such as illicit substances and firearms, all in the depths of the infamous Dark Web.

In 2013, Ulbricht was arrested and 9 months later charged with money laundering, computer hacking, and drug trafficking. The FBI seized Ulbricht’s Bitcoins and passed them onto the US Marshals, who held an auction and sold them all off to those willing to pay, among them Silbert and Draper (who clearly did the wise thing by buying into them). Ulbricht’s Bitcoins which ended up in the FBI’s hands along with his other funds would have been now worth approximately $2 billion, which, in theory, puts both Ulbricht and simultaneously (though fleetingly) the FBI at our very respectable number 2.

In 1st place is the crypto household name Satoshi Nakamoto. As a matter of fact, no one knows, or at least no one admits to know, who Nakamoto really is. All that’s known is that this name is a pseudonym used by some man or woman, or possibly even a group of people, who created a pioneering mathematical code which resulted in the first ever cryptocurrency unit. The only other fact that’s known is that Nakamoto owns around 1 million Bitcoins, which roughly translates to the staggering $6 billion or more! That’s one filthy rich Japanese mystery at our number 1.

 the Biggest Crypto Winners

Interestingly, if Nakamoto were to actually sell off his Bitcoins, this would cause panic in the crypto market and consequently drive the price of Bitcoin down, which would leave Nakamoto with a lot less than Nakamoto has in assets right now. Talking about being left holding the crypto bag!

We hope you enjoyed our list. Stay tuned for more.

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USD Coin (USDC), Gemini Dollar (GUSD), Paxos Standard (PAX), and TrueUSD (TUSD) Experienced Significant Supply Reduction This February: Research

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Tether (USDT) and Dai (DAI) are the only major stablecoins whose circulating supply remained unchanged throughout February
USD Coin (USDC), Gemini Dollar (GUSD), Paxos Standard (PAX), and TrueUSD (TUSD) Experienced Significant Supply Reduction This February: Research
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Stablecoins were one of the biggest crypto trends of 2018, but a recently published Diar study shows that might not be the case this year. USD Coin (USDC), Gemini Dollar (GUSD), Paxos Standard (PAX), and TrueUSD (TUSD) all saw their outstanding supply decreasing this February.

The stablecoin market hits a snag  

Overall, the aforementioned cryptocurrencies had a 10 percent net decrease in market capitalization. USD Coin (USDC) is the biggest stablecoin from the pack, currently occupying 23rd place on CMC with a market cap of $247 mln. The circulating supply of Circle’s coin was standing at almost $300 mln at the beginning of February, but now it’s at $244 mln.  

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Nevertheless, the stablecoin ecosystem is getting even more crowded with JPMorgan recently launching JPM Coin, a new dollar-pegged cryptocurrency.        

Tether remains unbothered

Notably, the circulating supply of Tether (USDT), the flagship stablecoin, remains practically unchanged. USDT, despite its numerous controversies, was recently praised by Michael Gronager, the CEO of Chainalysis. Dai (DAI), an Ethereum-collateralized cryptocurrency, also didn’t experience supply reduction.

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Bitcoin (BTC) Transaction Fees Continue Declining Despite Trading Volumes Being on the Rise

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Why are Bitcoin transaction volumes going through the roof while transaction fees continue plunging?
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A new DataLight report shows that the average commission paid for executing Bitcoin transactions has fallen to $0.244 as of Feb. 16. In stark contrast to that, the transaction volume has actually substantially increased.

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No correlation?

Bitcoin fees reached their peak on Dec. 23, 2017, with more than 250,000 transactions being stuck in the mempool. The average transaction fee reached $54.901.  

After that, Bitcoin trading fees fell as abruptly as the price of the coin itself. On Feb. 7, it reached a brand-new low of $0.161 (a world of difference compared to $4.588 a year ago).     

Transaction volumes are skyrocketing   

Meanwhile, the transaction volume has reached its highest peak in two years, almost matching December’s bull run. This is not surprising since major cryptocurrency exchanges saw their volumes spiking in 2018. However, as U.Today reported earlier, their volumes dipped substantially in 2019.     

That can be attributed to the rise in the Blockchain efficiency — as blocks are getting fuller, there is no incentive to pay miners higher fees. The low demand for new blocks results in underwhelming mining rewards.

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Zcash (ZEC), Litecoin (LTC), and Dash (DASH) Had Biggest One-Year Increase in Circulating Supply

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Circulating supply is one of the main factors one should consider before investing in a certain cryptocurrency
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New DataLight study reveals what cryptocurrencies had the biggest one-year change in the total number of coins. Zcash (ZEC) leads the pack with a whopping 80.31 percent increase.

Zcash is in the lead

At press time, the total circulation supply of ZEC currently stands at 5.8 mln. For comparison, it had only  3.2 mln coins at the same point in 2018. Still, even with the above-mentioned increase, that’s a very low coin supply, and one of the leading privacy coins has plenty of room for growth.

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Just like Bitcoin (BTC), ZEC has a fixed circulating supply of 21 mln. BTC, the world’s flagship cryptocurrency, saw its number of coins grow by 4 percent. Bitcoin’s circulating supply exceeded 17 mln back in April 2018.

Meanwhile, Monero (XMR), the main competitor of Zcash in the privacy coin niche, is expected to have 18.4 mln coins in circulation by 2022. With a 6.85 percent yearly increase, there is currently 16.7 mln XMR.

Less is more in the world of crypto

Litecoin (LTC) and Dash (DASH) are in second and third places with their circulating supply growing by 9.52 percent and 9.49 percent respectively. Tron (TRX), for comparison, only witnessed a 1.4 percent gain, but it already has the biggest coin supply on the list with 66 bln TRX.

A small circulating supply creates more demand, which is why the likes of Bitcoin and Zcash can be considered scarce assets. Subsequently, many investors are shooed away by cryptocurrencies with mammoth-size supply, but the coin’s market cap is the only thing that matters in the end.  

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LocalBitcoins Trading Volume Increases Exponentially in Venezuela as Political Crisis Escalates

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According to a new DataLight study, the popularity of Bitcoin, the top-of-the-line cryptocurrency, has skyrocketed in Venezuela amidst the ongoing political turmoil. On Feb. 2, the trading volume on LocalBitcoins reached a brand-new peak of 17.33 bln Venezuelan bolivars, which equals roughly $5.2 mln.     

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Bitcoin comes to the rescue  

Notably, Venezuela is also responsible for 20 percent of the LocalBitcoins traffic. As trading volumes are increasing, more people are visiting the exchange, with a 40 percent increase in January. It’s one of the most popular websites in the country that is being plagued with food shortages, political crisis, and riots in the street.   

For comparison, the country’s top stock exchange had a minuscule trading volume of $8,117 USD on Feb. 11, which signifies how much of a non-factor the bolivar has become here.

Bitcoin revolution in Latin America

The rapid surge in trading volume comes amidst the news about the Venezuelan government imposing limits on cryptocurrency remittance services. U.Today reminds readers that President Nicolas Maduro has tried to push his own oil-pegged cryptocurrency (the Petro), which was supposed to shore up the country’s struggling economy, but his plan failed miserably.    

Latin America remains the stronghold of Bitcoin adoption. For instance, it’s the second market for Dash (DASH), whose white paper was blatantly copied by the Petro.

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Bitcoin Fees Greatly Depend on Your Time Zone, New Study Shows

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It’s all about the timing

As the graph shows, those who send BTC at night have to pay 15,000 satoshis less, but getting your transaction confirmed at 1 PM will result in a much higher fee — almost 30,000 satoshis. Since EST and CST are five and six hours behind UTC respectively, it’s the best bet for Americans to avoid making Bitcoin transactions early in the morning. Meanwhile, Japanese Bitcoin owners will have to pay much more at 10 PM.  

Forking out big fees (not anymore)

As U.Today revealed earlier, all unconfirmed transactions go to a memory pool (mempool) where they remain in limbo before being validated by miners. Miners are obviously incentivized to pick transactions with the highest fees. During the peak of the crypto craze, more than 200,000 transactions were stuck in the mempool, and the fees went through the roof. However, the Diar report also shows that Bitcoin fees dropped to their lowest level in 4 years despite the current transaction count nearly matching the bull market peak.

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