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Cryptocurrencies are our life! Get an Overview of Market News

25.08.[News of the day] • Facebook could include NFT features in the Novi digital wallet and other articles

4 min read

Welcome to today’s overview of crypto news:


BTC has failed to continue growing. On the contrary, it began to lose value, lost $ 50,000 and continued to decline. It has reached $ 47,600 in the last 24 hours. He initially bounced back and added $ 1,000 in a matter of hours, but the attempt was short-lived. The Bears joined the game again, pushing the cryptocurrency south to its current level below $ 48,000.

As is usually the case when there is increased volatility in the market, fluctuations in altcoins are even more impressive. This time, however, they headed south. ETH has fallen by 5% and is currently below $ 3,200.

BTC analysis – a long-term bear pattern is closed within a few days


Holdings of BTC have reached the level of October 2020 while the speed is recovering

According to on-chain data from Glassnode and, indicators signal an impending increase in supply in circulation. However, in addition to a possible increase in supply, most BTC holders become conservative and hold their coins in personal wallets. As BTC holders keep their money in their wallets, the tide in the stock market is growing.

The usually increasing amount of BTCs in personal wallets signals the coming period of accumulation and is usually considered a good thing for the market because traders are not willing to sell the funds and hold them instead. The previous ATH total hold offer was reached in October, when BTC hovered around $ 10,000.

Decreased supply held by long-term investors and increased spending rates may lead to increased market volatility due to high sales volumes and strong purchasing power that are present in the market at the same time. The reason for investor conservatism is not published and cannot be simply defined.

Cardano founder says he “waited a very long time” for the day

Today, the token Cardano (ADA) was first traded on the Japanese exchange, which means that the people of Japan (a country with approximately 126 million inhabitants) can more easily invest in the ADA.

Sebastien Guillemot, technical director of dcSpark and also former Co-VP of Eng. & Cardano PM at EMURGO, said the ADA had finally been approved for listing on Japanese crypto exchanges, and explained why this was such a big deal.

According to Guillemot, it is not easy for crypto companies to obtain regulatory approval for listing on cryptobourses, so only a relatively small number of cryptos have been approved so far. He added that the report is quite important for the Japanese market and its significance roughly corresponds to the fact that the ADA finally got listed on the Coinbase exchange in March.

Banks, cryptocurrency exchanges, companies

Cryptobank in South Korea claims that it is trying to comply with a strict but unclear new law

Sandbank, a South Korean bank for virtual assets, claims that it is currently obtaining the necessary certification to operate legally in the country. However, the tax authorities have not yet decided whether their requirements also apply to crypto banks.

In a announcement, Sandbank told its customers that it considered obtaining information security management system (ISMS) certification as its highest priority. ISMS certification is a requirement for the Korean Financial Services Commission (FSC) for virtual asset companies to become a legitimate business operator. Sandbank has already applied for certification and is awaiting verification.

Facebook could include NFT features in the Novi digital wallet

According to David Marcus, a manager who spoke at Bloomberg TV, Facebook is reportedly considering incorporating NFT features into its digital wallet. Marcus said that Facebook feels it is in a good position to get involved in several ways.

Facebook’s Novi Wallet is a rebranding of the Calibra digital wallet. The company is approaching its financial product anew after the Libra project met with a mostly negative response. Users and regulators have paused to think that Facebook would launch its own asset.

When the wallet is ready to launch, it would be a good time to put some NFTs into operation and take advantage of users’ interests. Payments on Facebook will be free, which the team hopes will encourage their use.

CBDC, Regulation

The Thai SEC is proposing new rules for digital asset managers

On Wednesday, the Thai SEC proposed a set of additional regulations regarding the safekeeping of investors’ cryptocurrency holdings held by digital asset trading operators. The newly proposed rules apply to the safekeeping of fiat money in digital asset accounts, as well as the lending of cryptocurrencies, or the acquisition of interest on cryptocurrencies.

Specifically, the SEC seeks to prohibit crypto companies from using investors ‘assets “for the benefit of another client or other persons” or seek to benefit from both investors’ fiat money and digital assets, including lending digital assets to others. “Seeking benefits from clients’ fiat money is prohibited, except for deposits with commercial banks,” the proposal said.

The SEC could approve ETFs for Bitcoin in October

Bloomberg ETF analysts Eric Balchunas and James Seyffart issued a note to investors on Tuesday suggesting that last week’s abrupt withdrawal of ETH ETF proposals by VanEck and ProShares could lead to BTC ETF approval from SEC parties.

“The rapid withdrawal of ETF futures proposals for ETH by VanEck and ProShares is a good sign for potential ETco futures for BTC, as the SEC has allowed these applications to remain active. The launch could come as early as October, and we believe the SEC should allow several ETFs at once to avoid giving away benefits to the first player. “

-analysts said.

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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