Crypto News of the day (7.8.) | Winklevoss twins predict interesting week for BTC • Goldman Sachs is considering developing its own stablecoin • and other news

We have prepared for you an overview of the most important things that happened during the last day in the cryptoworld and crypto market. Welcome to crypto news of the day 7.8.

Markets

Bitcoin has been steadily advancing to $ 12,000 in the last 24 hours. After yesterday’s low of $ 11,580, the bulls took the lead and raised the price of BTC to a daily high of $ 11,910. However, the primary cryptocurrency failed to sustain growth and dropped briefly to $ 11,700. After another unsuccessful attempt to capture $ 11,900 and move to a psychological level of $ 12,000, BTC returned slightly to $ 11,800. Just below ($ 11,750) is the main line of resistance that definitely needs to be overcome if the asset really wants to get above $ 12,000 and start the run to a new annual maximum. If it fails, Bitcoin can count on $ 11,400 in support. Altcoins show more growth, from the top 10 especially BCH, which added over 10%. The dominance of BTC thus fell slightly to 60%.

You can monitor the current prices of cryptocurrencies here.

Last crypto news of the day (6.8.) here.

Cryptocurrencies

Second largest BTC whale sent over 96,000 BTC for $ 3.5

The second largest bitcoin whale has just moved an incredible 96,857 BTC to two separate wallets. Whale Alert reports that crypto giant Xapo sent bitcoins worth about $ 1.146 billion at the time of writing, for a fee of about 0.0003 BTC – about $ 3.55. About 92,857 BTCs were sent to one wallet and exactly 4,000 were sent to another, according to Blockchain.com. Xapo owns off-the-grid bunkers, storing BTC on five continents, including the Swiss Alps. Clients must wait two days before receiving their bitcoins because Xapo manually verifies transactions.

Realized price of BTC reached the new ATH at USD 6,000

According to Glassnode data from the cryptographic analysis, the realized price of Bitcoin has never been higher than today, when it reached a new milestone of USD 6,000. The realized price (as opposed to the current market price of approximately $ 11,800) is derived from realized capitalization, a metric invented by Crypto Data Coin Metrics in December 2018. Among other things, it is intended to compensate for lost coins that are now out of circulation. The realized price is calculated by dividing the realized market capitalization by the number of coins in circulation. ATH could be a sign that investors are now entering the market at higher prices.

Winklevoss twins are predicting an interesting week for BTC, which is fighting for $ 12,000

After several days of horizontal trading, the bitcoin bulls appear to have woken up, pushing BTC back to $ 12,000. The Winklevoss twins, the founders of the Gemini crypto exchange, are now optimistic about further developments. Both Cameron and Tyler write that the bulls are now taking control.

Cryptocurrency Exchanges, Banks, Companies

Goldman Sachs is considering developing its own stablecoin

The American multinational investment and financial company Goldman Sachs is exploring the idea of ​​creating its own stablecoin connected to fiat. In an interview with CNBC, McDermott, Global Head of Digital Assets, spoke about his vision of a blockchain-based financial system:

“In the next five to 10 years, you could see a financial system where all assets and liabilities are native to a blockchain, with all transactions natively happening on chain.

So what you’re doing today in the physical world, you just do digitally, creating huge efficiencies. And that can be debt issuances, securitization, loan origination; essentially you’ll have a digital financial markets ecosystem, the options are pretty vast.”

In the Netherlands, they have developed a new blockchain to monitor cannabidiol deliveries

A statement issued on 6 August by the Dutch Cannabinoid Association (CAN) revealed that it was providing consumers with a free blockchain tool – CanCheck – to track cannabidiol (CBD) products in the EU online. HempFlax, one of the founding members of the group, and Europe’s largest independent grower and processor of industrial hemp, will be one of the first to offer traceable CAN products.

DeFi

DeFi trades clog the ETH blockchain

Transactional spam is one of the many reasons why the average user fee on the Ethereum network has increased by 800% since May, according to Coin Metrics. Ponzi schemes such as MMM and DeFi’s overall growth in 2020 are also to blame. Hofstadt told CoinDesk that algorithmic trading companies have created robotic bots to monitor the Ethereum transaction queue (called a mempool).

These bots are waiting for large stores on DeFi platforms such as Uniswap. After passing, the bots quickly place orders to take advantage of price movements for so-called “backrunning”. However, too many companies already know about this practice. So some companies switched to a different tactic during the spring months to crowd out others. Rough modeling shows that gas charges of $ 5.99 million have been used to implement this business strategy since April 2018.