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Cryptocurrencies are our life! Get an Overview of Market News

16.08.[News of the day] • Microsoft wants to use the blockchain ETH in the fight against piracy • and other articles

4 min read
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Welcome to today’s overview of crypto news:

MARKETS

BTC fell yesterday after several consecutive days of price growth. Immediately after crossing the $ 48,000 mark for the first time since mid-May, it fell by almost $ 3,000. As a result, he tested $ 45,500, but the bulls strengthened at the moment and reversed the trajectory. In the following hours, BTC gradually began to restore its value.

He initially climbed above $ 46,000 before regaining $ 47,000. BTC reached $ 48,000 again, but the subsequent rejection drove him down several hundred dollars. However, currently BTC is still trading above $ 47,000.

The market-wide retreat on Sunday lasted only a short time and the altcoins are on the offensive again. ETH jumped about 3.5% in one day and its price is just below $ 3,300.

BTC analysis – the price encountered resistance of $ 48,000. Are we waiting for a decline?

Cryptocurrencies

Solana leads the altcoin rise, the price has reached a new all-time high and turned Uniswap

Solana is leading the rapid growth in the cryptocurrency market, with the price of the SOL token rising 41% today to a new all-time high of $ 64.48.

Solana’s price has risen by more than 65% in the last seven days with the launch of Wormhole, a communication bridge between Solana and other top decentralized financial networks that allows existing projects such as Terra, ETH and Binance Smart Chain to seamlessly move tokenized assets across blockchains and leverage so high speed and low cost Solana.

Today’s increase in the SOL price by more than 41% can probably be attributed to the successful launch of a new NFT project hosted on Solana’s blockchain – “The Degenerate Ape Academy NFT”. During its weekend launch, the NFT project sold out a collection of 10,000 unique NFT monkeys in eight minutes.

Banks, cryptocurrency exchanges, companies

HIVE buys additional cryptocurrency equipment from Bitmain and complements the agreement with Canaan

Vancouver-based cryptocurrency mining company HIVE Blockchain Technologies is buying 1,800 machines from Chinese mining equipment manufacturer Bitmain to expand its mining operations.

HIVE said it had ordered 1,800 Antminer S19j Pro mining machines from Bitmain, and the company said, according to Friday’s statement, the new machines should deliver a total hashing capacity of 180 petahashes per second. The purchase of new machines is part of HIVE’s purchasing plan for 2022 and is to be delivered from January 2022 to June 2022.

Walmart is looking for a leading crypto product to manage its digital currency strategy

North American retail giant Walmart is looking for an experienced cryptocurrency expert who can create and manage an ambitious digital currency strategy and product plan.

In an advertisement for this position, Walmart states that it is looking for someone who has experience in running and expanding businesses and at least 10 years of experience in managing products / programs and commercializing technology-based products. The ideal candidate should have expertise in cryptocurrencies and blockchain-related technologies and in-depth knowledge of the cryptosystem and its main actors.

Walmart indicated the focus of its future digital currency strategy, stating that it already offers its customers a “wide range of payment options” – although not yet in cryptocurrencies.

Microsoft wants to use the ETH blockchain to fight piracy

Microsoft, a developer of the Windows operating system and Office, is working hard to implement anti-piracy measures. In a new report published by Microsoft’s research department with researchers from Alibaba and Carnegie Mellon University, the Redmond software giant studied a blockchain-based incentive system designed to strengthen anti-piracy campaigns.

Microsoft’s new Argus system: A Fully Transparent Incentive System for Anti-Piracy Campaigns, relies on the transparency aspect of blockchain technology. This system, built on the ETH blockchain, aims to provide an incentive mechanism while protecting data collected from an open anonymous population of whistleblowers.

CBDC, Regulation

South Korean CBDC will appear on Samsung Galaxy smartphones

Samsung has joined a South Korean pilot program to test the digital currency of the central bank (CBDC), which is under development in the country. Digital currency will soon be available in Samsung’s flagship smartphone line, the Galaxy line.

The currency, being developed by the Central Bank of Korea, launched its pilot program on July 28, 2021 and is working on it in collaboration with Ground X. It is linked to the popular Cocoa messaging platform.

The main platform for the CBDC will be Klaytn, developed by Ground X. In general, officials have shown some appreciation for the CBDC, but not so much for the cryptocurrencies themselves.

The US Treasury Department is easing concerns about crypto reporting requirements

The welcome news for the US crypto industry is that the Treasury Department will clarify that only crypto companies that meet its definition of “brokers” will have to meet the new tax reporting requirements set out in the $ 1 trillion bill for land infrastructure, according to Bloomberg. .

Referring to an anonymous source from the Treasury, Bloomberg said miners, developers and other crypto industry entities would not face increased reporting requirements unless they acted as brokers under current Treasury definitions. No block exemptions will be granted on the basis of how companies are defined, but will relate to their actual behavior.

The guidelines are due to be published next week, well before the vote on the bill is expected in the House of Representatives to become law. Although the possibility of further changes to the wording of the law remains, given the nature of the law, which is tied to the success of other legislation, the likelihood that changes will be made before the vote remains small.

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.
BlackRock (IBIT), the Grayscale Bitcoin Trust (GBTC), Fidelity (FBTC), Ark Invest/21Shares (ARKB), Bitwise (BITB), Franklin (EZBC), Invesco/Galaxy (BTCO), VanEck (HODL), Valkyrie (BRRR), WisdomTree (BTCW), Hashdex (DEFI)

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