Last Week in Crypto – US GDP Falls by Record 33% (How to Hedge Against the USD!)

Cryptocurrency for Beginners: with Crypto Casey

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Show Notes

This is the third episode of a weekly cryptocurrency news series called Last Week in Crypto.

We cover the latest global news stories affecting the cryptocurrency markets July 19th through 25th of 2020.

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We will talk about what happened in the markets, the increasing network fees, Ethereum’s competitors mainnets launching, the dim outlook for the US economy, and what’s going on in China.

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As Ethereum’s network continues to strain under the immense weight of the increased demand in DeFi, two Ethereum competitors launched their mainnets this week, both of which involve proof-of-stake protocols: the same type of solution Ethereum will be transitioning to in the ETH 2 upgrade.

Cardano’s Shelley hard fork, five years in the making, went live this week.

Elrond’s mainnet launched this past Thursday with a new DeFi app and staking opportunities.

The Economy is in reverse: Initial jobless claims rise for a second week, GDP falls by a record 33% - the biggest economic contraction on record dating to 1947.


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