Crypto News: What you missed in March 2020
Welcome back to cryptocurrency. You might be joining us again after an intense month of worrying about far more important things, like COVID-19. It would be no surprise if your first thought when checking your cryptocurrency portfolio balance was “where did all my money go?”
The crypto market was hit hard over the last 30 days, so we are here to help break down some of the events that transpired during your absence.
COVID-19
Without a doubt, COVID-19 was at the forefront of everyone’s mind. Not only did the societal lock-down affect traditional businesses, but the ripples were seen throughout the crypto community. It was not all bad news, however. The trying times presented a new frame from which many were able to discuss the future of Bitcoin, stablecoins, DeFi, and privacy.
Flash Crash
The uncertainty surrounding the market was highlighted by one of the largest flash crashes in the history of cryptocurrency. In less than 24 hours, Bitcoin and other cryptos plunged in value by 48%.
Derivatives
There was a lot of discussion on why the market experienced such volatile times throughout this month. One theory involved the important role that derivatives played in the decline of crypto prices.
Greed & Fear Index
The global uncertainty in March led to some of the lowest points ever on the fear and greed index. As Bitcoin stayed at lows that hadn’t been experienced for over a year, the extreme fear led to concerns for the short term growth of the market.
India
After a history of cryptocurrency bans and restrictions, India announced they will be lifting the ban on cryptocurrency trading.
Akon’s Akoins
Akon became the latest celebrity to broadcast their support for a cryptocurrency. Akoins is claimed to be a cryptocurrency designed for African people. Rather than using cell phone minutes and credits as a form of trade, they will be able to use this currency as a way to purchase basic goods.
Hive v. Steem
After controversial moves by Justin Sun to commandeer Steem, a community split produced the new Hive cryptocurrency. After its first week of trading, Hive outperformed Steem, which was seen as a big win for much of the community.
Opera Browser
The market may have been difficult, but crypto adoption has continued to progress. One of the latest integrations this month was that of Opera Browser. Opera added cryptocurrency purchasing options.
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