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Cryptocurrencies are our life! Get an Overview of Market News

10.08.[News of the day] Cardano creator wants to hold a cryptocurrency proponents rally in Washington and other articles

4 min read
Cardana
Source: Pixabay.com

Welcome to today’s overview of crypto news:

MARKETS

Following frequent reports from the US, where attempts to tax the digital assets industry continue, the price of BTC has passed the roller coaster in recent days. Over the weekend, it rose from less than $ 38,000 to over $ 44,000, but retreated slightly on Monday, when a congressional vote was scheduled to take place. BTC thus sank below $ 43,000.

After this decline, however, the asset began to grow further, affecting $ 46,500. A few minutes later, however, it fell below $ 45,000. Again, a few minutes later, it climbed to over $ 46,700, the highest price tag since the mid-May crash. Since then, BTC has calmed down slightly and is currently hovering around $ 46,000.

The Altcoins underwent a strong correction yesterday, but have since reversed the trend. On a 24-hour scale, ETH is one of the best. From its own multi-month high of $ 3,200, it fell to just over $ 2,900 in one day, but rebounded quite well and is currently at $ 3,150.

Technical analysis: BTC

Cryptocurrencies

The creator of Cardano wants to hold a rally in Washington to support cryptocurrencies

After the US Senate disappointed the crypto industry, IOHK CEO Charles Hoskinson now wants to take to the streets. The creator of Cardano informed on Twitter about calls to hold a meeting in Washington.

Senators Richard Shelby (R-AL) and Bernie Sanders (D-VT) blocked the amendment because they could not agree on military spending. Hoskinson did not take napkins and called the legislature “living fossils”:

“These senators, these 87-year-old living fossils, have shown the world that they are willing to sell off the future of our country’s economy if they don’t get their pork.”

The billionaire says he has no intention of living in a “dying empire,” but he is not willing to move to another country.

The total market value of cryptocurrencies exceeds $ 1.9 trillion for the first time since May

The cryptocurrency market continued its solid bullish trend in early August, with a total market capitalization approaching $ 2 trillion. According to the cryptographic data aggregator CoinGecko, the total market capitalization of cryptocurrencies exceeded $ 1.9 trillion on Monday and retouched for the first time since May 18.

Since July 19, crypto market have seen a remarkable increase, with the market value rising sharply by nearly $ 700 billion. With a record high of $ 2.5 trillion on May 11, the market has been falling by about $ 700 billion.

Banks, crypto exchanges, companies

The world’s largest cinema chain will start receiving BTC

AMC Entertainment, the largest chain of cinemas in the world, will start accepting BTCs for cinema tickets in all its branches in the USA. Speaking on the company’s results, CEO Adam Aron said that the necessary technology to enable this feature would be in place by the end of 2021. However, it is not yet clear exactly how AMC will allow BTC payments.

The company’s move to cryptography could be related to the stock mania driven by Reddit memes, which caused a sharp rise in AMC shares earlier this year after they became the target of shorts. Aron says a lot of retailers who are interested in yolo (you only live once) stocks are also excited about cryptocurrencies.

India has its first crypto-unicorn

Today, the Mumbai-based crypto exchnage CoinDCX announced that it has received $ 90 million from a number of international investors in the C-Series funding round and has become the newest unicorn technology company in India worth $ 1.1 billion. Investors in this round included B Capital Group, Facebook co-founder Eduard Saverin, Coinbase Ventures, Polychain Capital, Block.one and Jump Capital.

The company plans to use the funds to attract more Indians and “make cryptoactive assets a popular class of investment assets in India,” said Sumit Gupta, co-founder and CEO of CoinDCX, in a press release announcing funding. He added that part of these funds will go to strengthen the company’s workforce.

The USDC issuer Circle will become a digital currency bank with full reserves

At a time of growing regulatory interest in stablecoins, Circle, a digital payments company issuing USDC, the world’s second largest stablecoin, has announced plans to become a national digital currency bank with full US reserves.

In a post on the company’s blog, CEO and co-founder Jeremy Allaire said the company was ready to operate under the supervision and requirements of the US Federal Reserve, the US Treasury and other government agencies.

Circle, with a market capitalization of nearly $ 30 billion and backed by Goldman Sachs, said it is implementing the plan in collaboration with regulators working to develop large US dollar digital currencies in the private sector and learn how to manage their risks and opportunities.

CBDC, Regulation

The Securities and Exchange Commission is asking Ripple to provide more information about Slack

The U.S. Securities and Exchange Commission (SEC) has asked Ripple to provide additional information regarding reports in Slack’s history, which it believes is unique and crucial evidence.

The United States Securities and Exchange Commission (SEC) has filed a request requiring Ripple to provide a history of its Slack. The SEC asked Judge Sarah Netbrun of the Southern District of New York to order the company to locate and present relevant communications among its employees.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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