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[News overview] The dominance of BTC is growing

2 min read

BTC has continued to correct today. This is despite the fact that this month is still very positive from a fundamental point of view. We will summarize in these evening reports important events that await us in the following days and what has happened in the cryptosworld. At the same time, we will look at how dominance of BTC is growing and what this means for the cryptomarket.

The dominance of BTC is growing

BTC’s dominance continues to grow despite its decline. They lose mainly highcap coins. ETH, on the other hand, probably also due to strong fundamentals earlier holds value and during the summer grows faster than BTC. This may be mainly due to a major London update, which we will discuss later in this article. Compared to the beginning of the year, however, altcoins have a significant advantage in terms of appreciation.

Bitcoin dominance
BTC dominance

The new law in the US will have a significant impact on cryptocurrencies

U.S. lawmakers have called for caution in implementing a new tax policy that could have a significant impact on cryptoindustry. Under the proposed amendments, stricter rules on cryptocurrency reporting requirements could provide the government with higher profits of up to $ 28 billion. On the other hand, anonymous exchanges and wallets would disappear completely, as everything would have to be under strict control under the new law.

Polygon and SushiSwap joined forces

The Polygon network announces a significant start to a new collaboration of protocol integration dHEDGE v2 to the popular decentralized exchange SushiSwap. The report was officially announced by Henrik Andersson, a member of dHEDGE, who highlighted in particular the new version so-called Guarded Open Access Transactions (GOAT). This system gives users access to decentralized DApps applications on the dHEDGE platform.

You can read more about this collaboration in this article.

Crypto.com allows USDC users to withdraw USDC worldwide

The Crypto.com digital asset exchange platform has now enabled USD coin (USDC) withdrawals, which means that users can withdraw stablecoins and receive one-to-one US dollars directly to their bank account.

Read more in this article.

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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