Everyone wanted to visit London or Miami this week, but not because of the weather. Let’s start the new chapter of the crypto digest and find out what this week will be remembered for.
We went in circles this week. We started at $41 thousand in the middle of the week, BTC dipped to $37 thousand, and then it recovered in price on Friday in 18 minutes. And now its price is almost $44k and is breaking out even higher. The dominance of BTC in the market is 46.8%.
In July, Bitcoin miners earned $972.6 million, increasing their revenues by 16% from last month. Ethereum miners earned $1.08 billion. And for three months in a row, ETH has overtaken the first cryptocurrency in this statistic.
By the way, Bitcoin is back in the Top 10 assets ranked by Market Cap. The capitalization of BTC is greater than that of market giants such as Tesla, Visa, Mastercard, Samsung, PayPal and Alibaba.
At the time of writing, Ethereum is $3.1k. Throughout the week, the price of the second cryptocurrency has been growing in connection with the update – the London hard fork. The current Market Dominance of ETH is 20.4%.
There are some interesting highlights around ETH besides the news of the week. Pantera Capital CEO: DeFi and Ethereum 2.0 will help the second cryptocurrency surpass Bitcoin.
And of course the SEC wants to regulate DeFi.
Gary Gensler is worried about the ways in which new investors are entering the crypto market. Of particular interest to the head of the SEC is the DeFi sector and “peer-to-peer lending” – when the exchange takes place without intermediaries.
Gensler believes that decentralized exchanges (DEX) can be viewed as mutual funds, which will allow the SEC to fully monitor and regulate their activities.
So guys, let’s now introduce the news this week!
1. He was supposed to fight evil, not join it! The police discovered a mining farm, which was organized at the Warsaw Police Headquarters.
An IT specialist who worked at the police station equipped his work PC with video cards, installed specialized software, connected to the power grid and mined cryptocurrency with the help of this.
2. Bitcoin will be at the core of technological innovation at Apple, Amazon and Facebook – the CEO of Microstrategy. Michael Sailor believes that billions of users will use the network of the first cryptocurrency in the future, which is why MicroStrategy’s bet on Bitcoin is the strategy with the highest growth potential and lowest risk that the company can now implement.
3. Miami released its own cryptocurrency MiamiCoin. August 4, the crypto-friendly city of Miami released its own digital currency, MiamiCoin, which will be used to fund infrastructure projects and other city events. It is also known that investors can be rewarded in BTC by staking MiamiCoin.
4. The latest news about TON. In response to an open letter from the developer community, the Telegram team agreed to transfer the ton.org domain and GitHub repository to the TON Foundation community. Recall that last year, after all the litigation, Telegram entered into an amicable agreement with the SEC, and Pavel Durov publicly announced the termination of work on TON.
Nevertheless, developers from all over the world united in an open source community and continued to work on the technology.
5. Since August 3, Google has lifted the ban on advertising of cryptocurrency exchanges and wallets in the United States – such services will again be able to promote their services through the search engine.
The document was submitted back in June and stipulates that “exchanger and wallet advertisers” targeting US consumers can advertise their services and products if they meet certain requirements.
6. Lionel Messi will release his own NFT collection. Now you can not only join football fans, but also fans of timeless and modern pictures!
7. LUMI news. You can now buy MATIC in the app. And we released an interesting article about DeFi! When choosing one cryptocurrency or another, you probably have questions: “Is this a scam?” “What are its advantages?” And hundreds of other questions any sane person who doesn’t want to “get into a hole” would ask themselves. In our last article you can find the top 10 DeFi Projects whose security is not worth doubting. How did we check this? Find out by reading the article!
We also talked about the main changes on the Ethereum network. If you have not read the article yet, then you simply have to look into it. There are no complicated terms. Everything is simple and straightforward, like 2+2 = 4.
8. The US is tightening the screws on cryptocurrencies. Just read these headers:
“Senators file crypto broker amendment to infrastructure bill after industry backlash”CNBC
“White House backs senators pushing for stricter crypto reporting rules”Forbes
And now Mike Novogratz stands on the defense of Crete, which accused US politicians of misunderstanding cryptocurrencies
Sometimes it is not clear what exactly the authorities want to achieve: a ban or approval of cryptocurrencies. But only time will tell how the situation will develop with the adoption of the new financial world. In the meantime, this is all the news that we wanted to share! See you next week!
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