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Reddit Cryptocurrency: Sun’s New Token BTT Raises Over $7 Million in an ICO

What is fresh on Reddit in crypto space? Below are some top news from subbreddits of r/bitcoin, r/ethereum, r/Ripple, r/litecoin, r/tron, r/eos, r/iota.

$190 million worth of BTC still  inaccessible; Ethereum going slow with the number of active addressed; Justin Sun’s new token BTT raises over $7 million in an ICO.  Here are some of the stories picked fresh from Reddit!

Reddit Bitcoin (BTC)

  • Gerald Cotten, CEO and co-founder of QuadrigaCX dies in in India due to unexpected complications. Being the only one holding passwords to several bitcoin investors’ accounts, accounts worth as much as $190 million still remain inaccessible, leaving the account holders in a difficult situation.
  • Stephen D Palley, a lawyer in D.C.  stated that Bitcoin is legal money on the basis of the ruling of a federal court of Michigan. During a money laundering case where several hundreds of thousands dollars worth of Bitcoin were traded on localbitcoin, the defendant’s legal defense claimed that Bitcoin does not count as real money; however,  the US District Court for the Eastern District of Michigan ruled that Bitcoin is in fact, legal money.
  • Bitcoin stays as the only cryptocurrency with over 100,000 daily active addresses. Bitcoin has had over 640,000 active addresses making it the most in-demand cryptocurrency. The number has stayed more or less steady over the crypto bearish market, while the figure for many altcoins has fallen.

Reddit Ethereum (ETH)

  • Paradigm writes a medium blog reporting on Ethereum; lists the major events of Ethereum lasting from 22nd December to 5th January; includes the Ethereum 2.0 development update, Görli Testnet (the first cross-client proof-of-authority network for Ethereum) launch, introduction of Plasma Group among others.
  • The Maker Dao ecosystem built on the Ethereum blockchain grows steadily. It’s total issued debt goes over $76 million DAI, making its held collateral to be over 2 million Ethereum tokens.
  • Dogecoin, Litecoin and some other perform better than Ethereum in terms of daily active addresses.

Reddit Ripple (XRP)

  • Ripple manages to persuade a bank to adopt its XRP token. Based in London, Euro Exim Bank will use Ripple’s xRapid service. In the service, international customer payments can be made in XRP. The service will go functional by the end of the first quarter of 2019.
  • The CEO SWIFT, Gottfried Leibbrandt and CEO Ripple, Brad Garlinghouse tussle in a debate onstage at the Paris Fintech Forum. The fiery debate goes on about which of the two would exceed in making cross-border payments.

Reddit Litecoin (LTC)

  • Litecoin announces that the 2nd annual Mammoth Film Festival will be sponsored by Litecoin. The event is an international film festival that takes place every year in California.  The winning filmmaker will receive Litecoin as a part of the prize. Litecoin’s team members will also attend the event while networking with the celebrities.
  • Litecoin shows more active daily addresses than Ethereum.
  • Blockchain.info, a wallet lists B-Cash, Ether and Stellar, but not Litecoin.

Reddit EOS

  • A new token is introduced for staking  into the EOS Toolkit.

Reddit Tron (TRX)

  • Justin Sun’s newly launched token BTT based on BitTorrent, raised over $150 million. The first session ended in 13 minutes and 25 seconds, distributing a total of 23.76 billion BTT.  The second session ended in 14 minutes and 41 seconds distributing a total of 35.64 billion BTT.  In total, the ICO sold 59,400,000,000 BTT tokens at $0.00012 a pop, raising a total of $7,128,000.
  • In the recent week, Tron received two awards from Golden Finance, which include the Technology Breakthrough Pioneer Award 2018 and Most Influential Public Chain Award. Also 6 of Tron’s DApps made it to Dapp Radar’s top 10 global DApps list.

Reddit IOTA

  • Reddit users go detective regarding IOTA Foundation’s funding as the IOTA grows its number of employees.
  • The IOTA community helped the authority in the arrest of a fraud case.  A 36 year-old was arrested. A fraudulent seed generator website had been in use in collecting seed money for some time. The IOTA community was quick to bring the fraudulent site in notice, thereafter having IOTA and other authorities sprung into action.
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Qirat Ayaz

Passionate about robots and how the robotics is changing everything around us. Writes about startups in the blockchain space. Contact the editor at editor.startups@blockpublisher.com

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