Bitcoin's average transaction fees have continued to rise following the Bitcoin Halving on May 11.

Crypto Twitter responded en masse to Harry Potter author J.K. Rowling's question about Bitcoin, unfortunately leaving the author none the wiser.

A report from TheBlock has found that of the $1.2 billion invested in 'institutional infrastructure and client services', $552.4 million was invested in derivative trading firms.

Top stories in the Crypto Roundup today:

• Bitcoin's Average Transaction Fees Rise Post-Halving
• J.K. Rowling Finds Explanations of Bitcoin From Crypto Twitter Confusing
• Derivatives Trading Infrastructure Raised $552 million in Investments Since 2014

At the time of writing, bitcoin (BTC) is trading at $9,777.72 (3.05%) with a daily Top Tier volume of $4.86 bn. As for ether (ETH), it is trading at $213.53 (6.16%) with a daily Top Tier volume of $1.28 bn. The MVIS CryptoCompare Digital Assets 10 Index is currently tracking at 3115.35 (1.02%).

Bitcoin's Average Transaction Fees Rise Post-Halving

Bitcoin’s average transaction fees have continued to rise after the halving. Data from Bitinfocharts shows that the average transaction for Bitcoin hit $5.16 on May 14th, a high not seen since June 2019.

Bitcoin transaction fees have been surging in 2020, soaring particularly in the run up to the halving, which saw enormous BTC volumes on spot exchanges. With Bitcoin seemingly on the cusp of another bull run, it remains to be seen whether we will see new transaction fee highs in 2020.

J.K. Rowling Confused by Explanations of Bitcoin

On Friday (May 15), when Harry Potter author J.K. Rowling asked for an explanation of Bitcoin, she probably didn't expect to see such a huge response.

Individuals from all over the crypto space tried their best to explain what bitcoin is and how it works in 240 characters or less. Unfortunately however, no one managed to explain it to her in a way she could understand. Elon Musk chimed in and agreed that an explanation of the technology behind Bitcoin can sound like Greek to most people, but lauded the cryptocurrency for its role as a hedge against central bank monetary inflation.

Derivatives Trading Infrastructure Raised $552 million Since 2014

A report from TheBlock has found that of the $1.2 billion invested in 'institutional infrastructure and client services', $552.4 million was invested in derivative trading firms.

The report found that the majority of the money however, came from two deals conducted by Bakkt, with $482.5 million of the $552.4 million stemming from these two alone. Before 2018, the report notes, 89% of all investment in institutional solutions went towards custody or derivatives, but has since expanded to other verticals such as lending and brokerage services.

State of the Crypto by Top Tier Exchange Volume

Build your project with CoinDesk Data

Terms | Privacy

13 Charles II St, SW1Y 4QU

London, UK

This email may include advertisements by third parties. None of the advertised or promoted products and services have been verified or approved by us and this email is not any endorsement by us of the third party or of their products or services.