News summary for the past week!
✅ XRP Leads Altcoins in Trading Volumes in the First Half of 2023
XRP has taken the top among altcoins in terms of sales volume in 2023. Since mid-June, when Ripple Labs secured a partial victory in court against the U.S. Securities and Exchange Commission (SEC), the asset's price has increased by 52%. Bitcoin's dominance in trading volume decreased by 8% in July, dropping from 45% to 27% in 2023 overall, coinciding with a decline in the Bitcoin price to $29,000.
✅ Elon Musk Plans to Transform Twitter into an "App for Everything"
On July 24, 2023, the Twitter platform was officially renamed to X. The changes went beyond just the company logo, as the social media platform eliminated its iconic bird symbol and underwent a fundamental transformation:"The name Twitter made sense when everything revolved around 140-character messages, which flashed among users like bird tweets. But now you can post anything, including long videos. In the coming months, we will add more communication tools and the ability to control the entire financial world. In this context, the name Twitter is no longer appropriate," said Elon Musk.
According to his plans, by the end of the year, the platform will introduce payments, video, and audio calls. Musk stated that X will become the "largest financial institution" in the world.
✅ On July 24, 800,000 Blocks Were Mined in the Bitcoin Network
On Monday, July 24, 2023, the Bitcoin network reached the milestone of 800,000 mined blocks, according to cryptocurrency expert Dylan Leclair. There were 267 days left until the next halving, when mining rewards will be halved.
In total, miners earned 268,700 BTC or $52.59 billion over the years, approximately $65,700 per block. The share of these earnings attributed to transaction fees is only 5.5%, according to analyst Glassnode under the nickname <Checkmatey>.
Over the past 14 years, the Bitcoin network processed 867 million transactions, averaging 1,084 per block. The average amount per transaction stands at $126,400. All this data fits in a storage space of 497 GB.
✅ TikTok Adds Text Messaging Functionality
Social media platform TikTok has introduced the ability to publish text messages. The new feature aims to "expand the capabilities" for content creators and promotion, as stated by the project administration.
Unlike Threads and Twitter, TikTok allows users to attach their location and music to text-based posts, as reported by Cointelegraph. This could become a significant competitive advantage, according to the publication.
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