Table of Contents
Welcome to today’s overview of crypto news:
MARKETS
BTC is facing problems. Failed to stay above $ 49,000 over the weekend as the Bears returned to the game. Over the next few days, the BTC first sank below $ 47,000, tried to regain some ground, and pumped back to nearly $ 49,000 before being pushed south in the last 24 hours.
This resulted in a multi-day low of $ 46,500, reached a few hours ago. To date, BTC has recovered by approximately $ 1,000 and is currently above $ 47,000.
It can be said that most altcoins have outperformed BTC in the last few weeks. For example, ETH fell below $ 3,200 on Monday. Since then, however, the second largest cryptocurrency has added more than $ 300. As a result, it has exceeded the $ 3,500 mark and is still trading above that level.
BTC analysis – dominance decreases and price continues in sideway structure
Cryptocurrencies
Dogecoin breeds more puppies with Doge NFT
Dogecoin still breeds puppies and this time it could be a real litter. Another spinoff of the industry’s largest meme crypto is for sale today the fractionated NFT ownership of the original Shiba Inu image, which started Dogecoin, in the form of $ DOGE tokens, according to Bloomberg.
Ownership is tokenized by NFT owner Dogecoin, PleasrDAO, which paid ETH 1,696.9 (which is a meme number in itself) for the NFT in June, or $ 4 million, a record amount for the NFT meme. However, PleasrDao, a team of decentralized finance executives, will retain majority ownership. The starting price of $ DOGE will be less than $ 1 to target retail investors.
The auction will start on the DeFi Miso protocol, which will distribute tokens to participants. It will be possible to resell the tokens, in many cryptocurrencies, not only in Dogecoin, on the decentralized exchange Sushi Swap .
The survey found that 77% of Russian investors prefer BTC to gold and forex
According to a new survey, cryptocurrencies such as BTC are becoming increasingly popular among Russian investors and are likely to crowd out traditional investment products.
The Russian Association of Forex Dealers (AFD), a local self-regulatory organization focused on the foreign exchange market, conducted a survey of 502 Russian investors to find out the mood of local investors regarding cryptocurrencies. The survey, which was published on August 31, ran from August 4 to 24, 2021.
In a survey, almost 77% of respondents said cryptocurrencies such as BTC, ETH and LTC are the “most promising” investments. Only 8.8% of respondents said they consider gold to be the best investment, while 14% prefer “well-known national currencies”.
Banks, crypto exchanges, companies
Cream Finance will repay the stolen ETH and AMP through protocol fees
The DeFi protocol Cream Finance will return $ 18.8 million to its users after a hacker attack on flash loans in August 30.
Cream promised to replace the stolen ETH and AMP by allocating 20% of all protocol fees until the debt was fully repaid. Cream will also pledge to the relevant parties to AMP and its creators, the Flexa digital payment network, to secure the debt.
According to report, the exploit was the first direct exploit that Cream Finance suffered, losing 462 million AMP tokens and 2,800 ETH. With the help of blockchain security firm PeckShield, Cream found that the exploit was caused by a bug in the way AMP was integrated.
CBDC, Regulation
The Reserve Bank of India will soon launch CBDC tests
The Reserve Bank of India has announced that the first digital currency tests may begin in December 2021. Central Bank Governor Shaktikanta Das said in an interview that the central bank’s digital currency (CBDC) has been under discussion for some time and that authorities remain caution regarding its scope.
The RBI examines the security and financial aspects of the CBDC, along with identifying how it could affect the country’s monetary policy. Currently, in the context of digital rupee, authorities have to choose between a centralized ledger and distributed ledger (DLT) technology.
The Australian Consumer Protection Authority is issuing warnings to cryptoinvestors
Against the background of the ongoing Senate hearings in Australia on cryptocurrency regulation, the Australian Securities and Investment Commission (ASIC) has issued an unusual warning to investors calling on them to be “prudent in investing in crypto financial products through unlicensed entities.”
The wording and timing of the issue has aroused some upheaval in a country where crypto-exchanges, if they do not offer a financial product, may not have a license. The ASIC also does not consider any cryptocurrency or token to be a financial product.
The ASIC states that the warning was issued in response to the authority receiving a “series of complaints” from Australians who used unlicensed platforms to trade in financial services such as options and futures and recorded “significant losses”. Some people in the industry wonder if issuing a general warning through a press release was the best solution.
