Bitcoin Daily – May 7

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $9,528

Bitcoin price has continued its upward move over the last day of trading, this time breaking through the $9,500 mark.

Top-20 altcoins have entered the red today, in an apparent anticipation of a further Bitcoin rise. Ethereum and XRP are both down 2%, while Dash is the biggest loser with a 4% loss.

Top Stories for May 7, 2020 πŸ”₯

πŸ‘‰ CME Bitcoin Futures Reaches All-Time High in Open Interest

CME Bitcoin Futures have reported an all-time high in open interest today, reaching $400 million. The large value of open trades implies larger volatility may be on the horizon for Bitcoin price, as traders cover their positions.

The previous high for open interest was on February 14th of this year, with $338 million worth of trades open on CME futures.

πŸ‘‰ Tron Receives $2 Million Grant for Coronavirus Relief

According to the Tron network's WeChat channel, the platform has received $2 million in coronavirus relief money from the US government. The money was allocated for salary protection and does not need to be repaid.

The news was translated from Chinese and posted on Twitter by Matthew Graham, CEO of a Chinese blockchain firm, and met with immediate outrage from the American community.

πŸ‘‰ UFC Partner with Blockchain Platform Chiliz

In an effort to boost fan engagement, the Ultimate Fighting Championship (UFC) has partnered with blockchain platform Chiliz.

The partnership will provide UFC fans with rewards and offers, as well as facilitate the potential tokenization of some of the fighters.

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