Bitcoin Financial News

 

If you bought Monero [XMR] at its August top so far, you would be down by roughly 11.5% at its $153.55 press time price.

Bitcoin was able to hold the $21,000 mark, to which it plunged after disappointing inflation numbers in Europe. Top crypto tokens were trading higher on Monday. BNB rose more than 5 per cent, whereas Solana, Shiba Inu and Polygon gained 3 per cent each. Dogecoin was the only altcoin in red. The global cryptocurrency market cap was trading marginally higher at the $1.02 trillion mark, rising more than a per cent in the last 24 hours. However, the total trading volume tumbled over 18 per cent, close to $59.37 billion.

Bitcoin (BTC) has dropped by more than 13% this week and has failed to hold support at $22,000 after successfully breaching $25,000 in the interim. Ethereum (ETH) has dropped 18% weekly and is now trading near $1,600. Total crypto market cap is now hovering near $1 trillion. Given September is traditionally a red month for Bitcoin and crypto markets, investors are anticipating further pain before the final bottom is discovered. With Ethereum’s Merge scheduled for mid-September, the possibility of ‘sell-the-news’ event wiping out monthly gains in ETH is strong. As this bear market plays out, we look at some positives in terms of adoption and other stories of the week below.Buenos Aires to deploy Ethereum validator nodes Buenos Aires (capital of Argentina) is set to become one of the first public entities in the world to help run Ethereum’s network infrastructure. In 2023, the city will work with private enterprises to install validator nodes, which are machines running the Ethereum client software. The validators are responsible for storing data, processing transactions, and adding new blocks to the blockchain, which will become part of the proof-of-stake (PoS) network consensus system being implemented in conjunction with the Merge which is anticipated to take place in mid-September.

Stablecoin issuers like Tether (USDT) and Circle have accumulated a significant share in the United States Treasury market, outperforming major traditional finance players.

The correlation between the performance of Asia's equity markets and crypto assets has increased as investors from that region piled into crypto in recent years, according to a blog from the International Monetary Fund (IMF).

Bitcoin and other major cryptocurrencies plunged back last week on Friday, wiping almost $200 billion from the combined market after a serious collapse warning.

Celsius Network LLC used more than $40 million in cash on its startup mining operation in the first two weeks after filing for bankruptcy, according to a report from the Wall Street Journal (WSJ).

The average transaction fee for Bitcoin (BTC) fell below $1 due to falling market prices and lower mining difficulty.

Bitcoin (BTC) starts a new week fresh from a new multi-week low amid a return of highly nervous sentiment.

The average transaction fees on the Bitcoin (BTC) blockchain fell below $1 for the first time in over two years, further strengthening its use case as a viable mainstream financial system.

Sudden crypto drop sends bitcoin to three-week low

The hackers behind the $625 million Ronin bridge attack in March have since transferred most of their funds from ETH into BTC using renBTC and Bitcoin privacy tools Blender and ChipMixer. 

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice

The S&P 500 ended its four-week-long recovery last week after minutes from the Federal Reserve’s July meeting hinted that the central bank’s rate hikes will continue until inflation is under control. Members of the Fed said there was no evidence that inflation pressures appear be easing.

Bitcoin, again, went on a steep downtrend on 18 August after seeing steady uptick following its massive decline in June. In fact, for a brief while, the king coin also managed to cross the $24,000-mark, which gave hope to investors for a further surge before moving south. 

The crypto-market just concluded a bearish week and it is only natural for investors to expect some relief. ApeCoin [APE] is perhaps one of the few cryptocurrencies that might be best suited in case of another bull run and here’s why.

The price movement of Bitcoin [BTC] has not been to the delight of its investors lately. Since a $25,000 hit on 15 August that sent investors into jubilation, BTC has now only yielded to the reds. 

crypto industry too unfortunately has had long-standing gender inequities. The number of women in crypto, whether that be for investing or as founders, has always lagged behind men. One of the main pillars of crypto has always been a decentralized and democratized financial system. But the male-dominated crypto industry has never really been seen as a space for women and has always been contrary to its founding principles. Thankfully, this is changing. Recent data from exchanges and other crypto companies in India provides a glimmer of hope. It is reported around 20 per cent of crypto investors in India are women, but the numbers still show a significant gender gap. However, the interesting fact in all of these reports is that in terms of new investors, women seem to be giving men a run for their money and most platforms have seen a phenomenal increase in the number of women registering and investing on these platforms.

Since the massive plunge in June, Ethereum [ETH], the largest altcoin in the world, gained a steady northbound movement. Over the last two months, ETH has consistently registered higher lows, suggesting bullishness as the date of the much awaited Ethereum Merge comes closer. 

Sharing a statistically significant positive correlation with Bitcoin [BTC], the price of Ripple’s XRP has been impacted by the price decline suffered by the king coin in the past seven days. Exchanging hands at $0.3422 at press time, the price per XRP dropped by 12% within that period. So far this month, the token has declined by 14%. This comes after XRP’s price rallied by over 15% in July.