Cardano and Nervos will launch cross-chain bridge, Kraken launches new app

Hello everyone, this is our weekly crypto digest. Here you’ll find everything from a weekly market summary and top news to the hottest new listings on exchanges, and even memes to cheer you up. To get these updates as soon as we post them, follow us on Twitter.

Weekly Market Summary

Public chain projects Nervos and Cardano said they plan to enable interoperability across their platforms within the next six weeks. 

The Force Bridge, as it’s known, will allow users to interchangeably transact Nervos or Cardano’s native currencies (CKB and ADA). It will also enable participants to create their own wrapped tokens – cryptos that are pegged to the value of another – and do so across both chains, according to the release.

The bridge is expected to lower  transaction costs on both platforms  and unburden the users who use different wallets to access  both networks. 

Cryptocurrency exchange Kraken has launched a new mobile app for retail traders from the U.S. The app is available on both Android and iOS and is designed for those new to crypto trading and investing. 

Kraken has in the past been criticized for not being the easiest exchange to navigate for beginners.  The new “pro app” is aimed at experienced traders and has a much easier-to-use interface.Investors can get started with buying as little as $10 of Bitcoin or other cryptocurrencies using it.

Quick weekly news:

• Investors cautiously re-enter crypto funds while ETH vehicles show strength: Read more here.

• Elon Musk tweets again, sending shares of ‘Baby Shark’ investor soaring: Read more here.

• Norton 360 antivirus will soon mine cryptocurrency: Read more here.

• Dogecoin surges more than 25%, market cap grows to $54 billion on Coinbase listing this week: Read more here.

Other notable events include:

– ECB warns countries against the impact of cryptocurrency

– Ethereum mining revenue topped Bitcoin in May 

Crypto

In a stark warning, the European Central Bank (ECB) said that governments opting out of introducing central bank digital currencies (CBDCs) may face threats to their financial systems and monetary autonomy. CBDCs are digital versions of fiat currencies, which in the case of the European Union, would be a digital version of  Euro.

One risk of failing to introduce a CBDC comes from concerns of “foreign tech giants potentially offering artificial currencies in the future.”

Mining

Ethereum miners took in record revenues in May, allowing them to earn more than Bitcoin miners for just the second time in the last year.  

Monthly mining revenue on the Ethereum blockchain reached $2.35 billion in May, according to statistics from Coin Metrics, compared to $1.45 billion for Bitcoin. Ethereum’s May dominance is a byproduct of the price of ETH itself—it hit a record high of $4,164 on May 10—as well as high transaction fees on the congested network.

 

The month of May was very unpredictable and now it’s over. We’ve packed together the most demanded coins among Good Crypto users. So it goes:

• Spot trading: The best cryptocurrencies and the absolute leaders to buy were Ethereum (ETH) and Bitcoin (BTC), given the way their prices fluctuated. Altcoins did not go unnoticed either, with the most popular ones being Cardano (ADA) and Polygon (MATIC).
• Derivatives: Aave (AAVE) drew level with the leaders and went straight to number three. It should be noted that users liked meme coin Dogecoin (DOGE) and thanks to their trust, it secured a position in the Top 5 ranking of the month’s most traded coins.

Here are the hottest exchange listings of the last week: 

New Listings on CoinbasePro:

– Dogecoin (DOGE/GBP DOGE/USDT DOGE/USD DOGE/BTC DOGE/EUR)

New Listings on Binance:

– Livepeer (LPT/USDT LPT/BNB LPT/BUSD LPT/BTC)

New Pairs on Binance:

– SHIB/BRL SOL/EUR ETH/UAH MATIC/BRL

– AGIX/BTC

New Listings on Kraken:

– Mina (MINA/USD MINA/BTC MINA/GBP MINA/EUR)

New Listings on KuCoin:

– Jupiter (JUP/ETH JUP/USDT)

– VEED (VEED/BTC VEED/USDT)

– Apollo Currency (APL/USDT APL/BTC)

– Prometeus (PROM/USDT PROM/BTC)

New Pairs on KuCoin:

– PDEX/BTC

– DIVI/USDT

– FCL/ETH

– ELON/USDT

– XCAD/USDT

By the way, our PRO plan includes new Exchange Listing alerts for all 27 exchanges in the app. Become a PRO and receive an instant notification when a new coin is listed on Coinbase Pro, Binance, or your exchange of choice!

 

MonaCoin is a Japanese cryptocurrency which is based on a Japanese ASCII art character that looks like a cat. MonaCoin describes itself as a cryptocurrency that “continues to be maintained and built not by a core development team, but by its enthusiastic user base.”

The community around MonaCoin does not view the project as a speculative investment. Rather, users believe that MonaCoin is a viable payment solution. This notion was given a significant boost when the Japanese government allowed MonaCoin to be accepted by vendors, with many stores – both online and physical – now accepting the cryptocurrency.

MonaCoin shares similarities with Dogecoin in that it doesn’t take itself too seriously and allows the community to have fun with cryptocurrency.

📈Indicators 

Day +3.26%

Month +1.24%

Volume 24H: $54.9M

Market Cap: $167.4M

🔍DYOR

Twitter

Website

Zcash (ZEC) is a cryptocurrency that focuses mainly on private transactions in an open blockchain. Zcash, originally a fork of Bitcoin, was created in 2016 with the goal of placing more emphasis on anonymity and selectively offering transparent transactions. Zcash encrypts these transactions using a zero-knowledge proof-of-concept called zk-SNARK. This system is used to ensure complete security and anonymity of both parties involved in the transaction. 

Zcash can be used with several internet services. Several companies have already implemented Zcash as a payment method on their website. Zcash can also be used to store value or send value to other users anywhere in the world.

 

We have prepared for you top-performing coins of June 3.

OKB has managed to become the best performing asset among TOP-100, gaining 28.89% within the last 24 hours.

Mdex was the worst-performing asset among TOP-100 (again), losing 4.32% within the last 24 hours.

To get up-to-date reports on gainers and losers during the week, follow us on Twitter.

 

Top crypto meme of the week

It’s not as easy as it looks 😎😏

We hope you found this digest useful and informative! If you want to be the first one to receive new crypto insights and stay up-to-date with the market, follow us on Twitter. Happy trading with the Good Crypto app!