Cryptocurrency News Cast 📮 02-08-2020
Welcome to The Cryptocurrency News Cast: A Complete Cryptocurrency News letter For Today
24hours Cryptocurrency Market Cap:
📈MarketCap: $335 B
📊24h Mcap %: -4.10 %
⚠️Bitcoin Dom: 61.20%
📌Active Coins: 3,448
📍24h Vol %: 35.89%
💲24h Vol: $132 B
Cryptocurrency News Updates :
- Plan B: Bitcoin Is On The Track To $100K
- Bitcoin Miners’ Revenue Increased By 7% in July
- XRP Becomes Highest Gainer Among Top 20
- Cameron Winklevoss: "Buckle Up" For Bitcoin's Next Bull Run
- Decentralized Exchange Volumes Surged To $4.3 Billion In July
- Americans Trade Depreciating Dollars For Bitcoin
- Russian President Vladimir Putin signs Russian Crypto Bill Into Law
- Bitcoin Breaks $11,700 For The First Time In This Year
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Plan B: Bitcoin Is On The Track To $100K
PlanB, the well-known creator of the contested stock-to-flow (S2F) model, believes Bitcoin (BTC) is now well on track to reach $100,000 as the price has risen to yearly highs. The optimistic sentiment coincides with the shift in momentum from alternative cryptocurrencies, or altcoins, to BTC. Altcoin declined particularly in the past 72 hours when the price of Bitcoin started to rally. At the same time, the price of Bitcoin has increased by 17% this week, as it broke through a major three-year trendline. Read Full on cointelegraph.
Bitcoin Miners’ Revenue Increased By 7% in July
Bitcoin miners enjoyed a 7% increase in revenue during July, driven by higher network fees and increased transaction volume as Bitcoin (BTC) rallied to new yearly highs above $11,400. BTC miners generated an estimated $300 million in revenue in July, up from $281 million in June, and the first monthly rise in miner revenue since April, as per Coin Metrics data. Revenue estimates assume miners sell their BTC immediately. Fees generated $25 million in July, eclipsing the previous 12-month high of 8.3% fee revenue in May. Read Full on CoinDesk.
XRP Becomes Highest Gainer Among Top 20
XRP HOLDers are delighted to see XRP in top gainers list in the past 24-hour period. According to data from CryptoCompare, around 19:05 UTC on Saturday (August 1), XRP broke through the $0.2900 resistance level for the first time in over five months on its way to an intraday high of $0.2905. Currently, XRP is trading at $0.2916, up 14.26% against USD in the past 24-hour period, which makes it the highest percentage gainer vs USD among the top 20 cryptoassets by market cap. Read Full on CryptoGlobe.
Cameron Winklevoss: "Buckle Up" For Bitcoin's Next Bull Run
Gemini CEO and co-founder Cameron Winklevoss believes that the next Bitcoin bull run coming up will be "dramatically different,” due to the innovative financial resources that crypto investors have access to nowadays and to the current economic infrastructure. Compared to previous bull markets, the billionaire crypto philanthropist said that with the rise of infrastructure, the influx of capital, and better projects at hand, Bitcoin (BTC) is set for its next bull run. Read Full on twitter.
Decentralized Exchange Volumes Surged To $4.3 Billion In July
Data collected by The Block shows that the total volume for decentralized exchanges hit $4.3B billion in July, surpassing the previous record in June. The volume surge represents a 174% increase over the $1.5 billion performance in June. July represents the first time on record that DEX volumes have risen past the $4 billion mark. Automated market maker protocols Uniswap and Curve represented the bulk of July's activity. Uniswap led the pack with 41% of the volume, followed by Curve with 24% of the volume. Read Full on The Block.
Americans Trade Depreciating Dollars For Bitcoin
Bloomberg article post that the dollar is rapidly depreciating against other leading fiat currencies. In fact, as per Financial Times, July is the dollar’s worst month in a decade. Because of the COVID-19 lockdown, the personal savings rate in the U.S. is at a historic high. The yield offered by the financial institutions on savings accounts, however, is close to zero. At the same time, assets as Bitcoin, equities, and gold, all have made double-digit gains since March. This is making them an attractive option for investors. Read Full on cointelegraph.
Russian President Vladimir Putin signs Russian Crypto Bill Into Law
Russian President Vladimir Putin signed the first of two bills on digital assets into law on Friday, according to Russian media. The bill, approved by the country's parliament last week, says companies can issue digital securities on a blockchain if they are properly registered with the Bank of Russia as issuers and satisfy certain criteria. Decentralized cryptocurrencies are considered a type of property, which should be reported for tax purposes and cannot be used to pay for goods and services. Read Full on CoinDesk.
Bitcoin Breaks $11,700 For The First Time In This Year
As per data of CryptoCompare, at 06:20 UTC on August 1, Bitcoin (BTC) broke through the $11,700 level (before reaching an intraday high of $11,740 for the first time since 30 June 2019. This move came after BTC closed July at $11,337, which is its second highest monthly close ever. Bitcoin advocate Anthony Pompliano, Co-Founder and Partner at Morgan Creek Digital Assets, believes that macroeconomic factors are behind Bitcoin’s rally, and implies that it would be kind of foolish not to be bullish on BTC in this environment. Read Full on CryptoGlobe.