Crypto News of the day 25.8. | Bloomberg analyst: BTC to $ 20,000 and gold to $ 3,000 • Difficulty mining Bitcoin at ATH • and other news
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Welcome to crypto news of the day 25.8. We have prepared for you an overview of the most important things that happened during the last day in the cryptoworld and crypto market.
Market
Bitcoin repeatedly tried to reach the $ 12,000 mark, but failed to keep it. It is currently trading around $ 11,500. The largest applications for bitcoins and crypto wallets, including Coinbase, Blockchain Wallet, Crypto.com, BRD and Binance, recorded a record number of downloads in July. The development of the Bitcoin price is increasingly similar to the development of the gold price. The precious metal also tried for $ 1,960, but without success and the price returned to $ 1,930. And while both assets show an increased correlation towards the end of the holidays, stock markets rose yesterday after reports of possible coronavirus treatment. The S&P 500 recorded a new all-time high of 3,330 points after a 1% jump, the Dow Jones rose 1.3% to exceed 28,000 points for the first time since February, and the Nasdaq added 0.6% to 11,380 points.
You can monitor the current prices of cryptocurrencies here.
Last crypto news of the day (24.8.) here.
Cryptocurrencies
Bloomberg analyst: BTC to $ 20,000 and gold to $ 3,000
The bullish commentary on gold came from top Bloomberg Intelligence analyst Mike McGlone, in which he said he expects the trajectory of precious metal prices to accelerate, following a comment on the rise in the price of BTC. The analyst said in an August note that gold is at an early stage in what looks like a long-term bull run. He highlighted the ongoing financial crisis that has led central banks to launch open quantitative easing programs. So far, this has put negative pressure on the US dollar – and “accelerated the upward trajectory of gold.” In an June update, the analyst said the cryptocurrency could reach $ 20,000 by the end of this year, citing increasingly favorable fundamentals and technical factors.
Crypto Exchanges, Banks, Companies
Crypto exchange Coincheck is planning an IEO in Japan
The main Japanese crypto exchange Coincheck will launch an IEO to raise funds using a token utility. According to the announcement from August 25, IEO will work with the Japanese company Hashpalette and the companies will jointly implement IEO for the sale of the Palette Tokens (PLT) on the Ethereum blockchain through the Platform Palette.
DeFi
Total value, locked in Aave, doubled in two weeks and Aave has now surpassed MakerDAO
Aave reported a 170% increase in the total value of locked funds to more than $ 1.3 billion in August. The lending protocol recently added new features such as loan delegation and other news. The price of the Aave LEND Token has increased by more than 3,900% this year. According to DeFi Pulse, Aave’s decentralized finance (DeFi) market has moved ahead of MakerDAO. Aave now has various $ 1.47 billion in crypto assets locked on credit lines, while MakerDAO has a total of $ 1.45 billion in locked assets.
CBDC, Regulations
Fed is quietly experimenting with the digital dollar
According to Bloomberg, the US Fed is already working on a hypothetical digital dollar. In addition, researchers from the Boston Federal Reserve and the Massachusetts Institute of Technology (MIT) have committed to creating and testing digital assets that are designed for central bank use. James Cunha, CEO of the Boston Fed, says the initial phase of the project involves the development of an engine and software that will power the digital asset. Cunha says that due to the size of the United States, the digital version of the dollar can pose a number of challenges, including transaction volume, security and privacy.
Mining
Difficulty of bitcoin mining at ATH
Analyst and creator of the Stock-to-Flow (S2F) model, PlanB, has revealed that the difficulty of bitcoin mining has reached a new all-time high of 17.6 trillion. Mining difficulty refers to the average hashing power that miners need to resolve a transaction block in a bitcoin network.
Attractions
Presidential candidate and crypto investor Brock Pierce names rapper Akon as chief strategist for his campaign
One of the well-known crypto investors, Brock Pierce, announced his candidacy for office as an independent candidate. Now Pierce has also revealed that Akon, an award-winning rapper who is also known for his interest in cryptocurrencies, will be his lead strategist.
Thank you for your time a reading crypto news of the day 25.8.
