Crypto News of the Day (21.07.) | Bitcoin reaches $ 9,300, volatility returns • USDT has the potential to subdue Bitcoin • and other news

We have prepared for you an overview of the most important things that happened during the last day in the cryptoworld. Welcome to crypto news of the day.

Markets

Bitcoin today brought back much-needed volatility to crypto market, adding over $ 200 in a matter of hours. Around midnight, Bitcoin traded at a comfortable support level of $ 9,150, is now hovering around $ 9,350 and appears to retain $ 9,300 as its new level of support.

Cryptocurrencies

Messari: USDT has the potential to subdue Bitcoin and become the dominant cryptocurrency

Although stablecoins are a relatively new invention in cryptospace, they have become quite popular among those who use cryptocurrencies for payments. Most advantageous of all is Tether, the USDT, which analysts at Messari say may have the potential to replace bitcoins as the dominant currency for public blockchains.

The number of daily transactions is growing rapidly and has almost reached the number of bitcoin transactions. The USDT’s cash base grew by $ 2.4 billion to more than $ 8 billion. It grew another $ 3.8 billion in the second quarter, bringing the total base to more than $ 12 billion. USDT contributed the most to the total volume of stablecoin transactions.

Cryptocurrency exchanges, Banks

Coinbase and other crypto exchanges are developing a P2P network to share user data

A working group including US crypto-exchanges is working on a joint solution to comply with the Financial Action Task Force (FATF) rules for sharing customer information.

The effort was reportedly launched by the Coinbase crypto exchange, which led to a plan to exchange data via a “peer-to-peer” bulletin board. According to Coinbase, a so-called white paper on the proposed solution will be published in the coming weeks.

Grayscale Investments has been licensed to offer services to LTC and BCH

Grayscale Investments will now be able to offer clients the ability to exchange and handle Litecoin (LTC) and Bitcoin Cash (BCH), some of the largest and most popular cryptocurrencies in the world. The information was officially released by Grayscale Investments in a July 20 press release.

Blockchain, Technology

Samsung Ads adds support for the blockchain VR game Decentraland

The Ethereum platform allows users to monetize and build a virtual world using non-fungible tokens (NFT) or collectable crypto items. According to the platform’s announcement, Samsung now supports native Decentraland, LAND and MANA tokens in the Blockchain Wallet App.

Regulations, CBDC

The French central bank has selected 8 candidates for the digital currency experiment

The Banque de France, France’s central bank, revealed on Monday that it had selected eight bidders as part of an extensive effort to test digital currency solutions. In a statement issued on July 20, the central bank said the experiments would cover a number of areas and begin “in the coming days.” The list of candidates includes several major banks and companies, such as HSBC or Accenture.

Russia postpones plans to criminalize cryptotransactions

For the time being, Russia has removed references to administrative and criminal liability for the trading in bitcoins (BTC) from the proposed law on digital financial assets (DFA), which is to pass the second reading in the Russian parliament.

Thank you for your time and reading our crypto news of the day.