Despite the slight downturn, the institutional adoption of Bitcoin continues to increase. Filings with the United States Securities and Exchange Commission show that four wealth management firms have bought shares in Grayscale’s Bitcoin Investment Trust.
A survey of about 42,000 people in 27 countries by product comparison website Finder showed a high adoption rate in Asia. Among the countries polled, Vietnam had the highest adoption rate at 41%, while India and Indonesia had a 30% adoption rate.
OUR BLOG ARTICLES FOR THIS SPECIAL ISSUE ARE
MEET KAIKEN INU: THE HOTTEST MEME COIN ON THE MARKET,
A SNEAK PEEK INTO HYPERSIGN’S DECENTRALIZED IDENTITY AND
ACCESS MANAGEMENT INFRASTRUCTURE
MEET RADIOLOGEX, ONE OF TOP BLOCKCHAIN-BASED HEALTHCARE
The bears pulled Bitcoin (BTC) below the 200-day simple moving average ($45,218) on Aug 12 but they have not been able to sustain the lower levels. The bulls have pushed the price back above the 200-day SMA today, indicating buying on dips.
If buyers propel the price above the resistance line of the wedge, the BTC/USDT pair could rally to $51,500. This level may act as resistance but if bulls do not give up much ground, the uptrend may reach $60,000.
The rising 20-day exponential moving average ($41,743) and the relative strength index (RSI) just below the overbought zone suggest that bulls are in the driver’s seat.
If the price turns down from the resistance line of the wedge, the bears will smell an opportunity. The first sign of weakness will be a break and close below the 20-day EMA. Such a move could open the doors for a further decline to the critical support at $36,670.
Lastly please check out the advancement’s happening in the cryptocurrency world.
Enjoy the issue!
FEATURING IN THIS WEEKS EDITION
– The Coop Network
– Ferrum Network
– World Mobile Token.
– GAIN PROTOCOL
– Dirty Finance
CRYPTO TRADE OPPORTUNITIES
BITCOIN – BTC/GBP
We had said in our previous analysis that a short-term trading opportunity may open up if Bitcoin rebounds off the 20-day exponential moving average (EMA) and that is what happened. Traders who bought on our recommendation may book partial profits and trail the stops higher on the rest of the position. Read more
ETHEREUM – ETH/GBP
In our previous analysis, we had recommended traders buy on a strong rebound off the 20-day EMA. The price did not drop to the 20-day EMA but came close to it on August 4. Traders who bought this bounce would have made quick gains. Read more
RIPPLE – XRP/GBP
The tight range consolidation between the 20-day EMA and the overhead resistance at £0.53566 resolved to the upside on August 7. This triggered the buy recommendation given in the previous analysis. The bulls are struggling to sustain the upward momentum as bears are attempting to pull the price back below the breakout level. Read more
CARDANO – ADA/GBP
Cardano broke above the 50-day SMA on August 3 and has continued its move higher. The rising 20-day EMA and the RSI in the positive zone suggest that bulls have the upper hand. Read more
BINANCE – BNB/GBP
Binance Coin broke and closed above the overhead resistance of £236 on August 6 which triggered the buy recommendation given in the previous analysis. However, the bulls are struggling to build on the breakout as bears are trying to pull the price back below £236. Read more
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PYLON ECO TOKEN – A DEFI GOVERNANCE DEFLATIONARY TOKEN
Pylon Eco Token, DeFi Governance Deflationary project with plenty of ecosystems used in daily life trying to bring mass crypto adoption globally, Supports Open-source developer community with Guaranteed Fund. 99 Million tokens to release in 4 years.
“Our goal is to bring mass crypto adoption globally through our wide range of ecosystems used in daily life; further we want to accelerate development by open sourcing the ecosystem projects.” Read more
DIRTY FINANCE LAUNCHES STAKING ON THE 17TH OF AUGUST
Dirty finance is taking the lead when is comes to bringing the hentai world to the crypto space. With the huge release of staking and lp staking on the 17th of August, investors are starting to take notice. Not only do they reward holders with a 2 % burn and 2% redistribution per transaction, increasing the holders market share in two ways constantly, but they also reward their holders with exclusive original artwork NFT’s that are sellable on 3rd party market places, such as opensea.io. This gives the holders a constant passive income on top of the smart contract features (redistribution and burn). Read more
MELD JOINS FORCES WITH WORLD MOBILE
This collaboration builds on a shared set of values to empower individuals to regain financial control by providing them with the tools and services they need to manage their money on their terms. While World Mobile is bringing critical connectivity to Africa, MELD is working towards banking the unbanked. These two visions come together in this partnership to plot a course for a future society. Read more
GAIN PROTOCOL ANNOUNCES CHANGES IN RESPONSE TO BOT TRADING DURING PRE-SALE
Gain Protocol is invested in protecting holders and doing all that is possible to keep the price of GAIN stable and free from nefarious actors. While our initial pre-sale and listing on PancakeSwap was a success and pushed the price of GAIN to all-time highs, bots attacks lead to a subsequent dip in price. The team has done all that is possible to help prevent this from happening in future Toro Rounds and everyday trading. Read more
ETHEREUM 2.0 STAKING TOPS $21 BILLION WITH ‘MERGE’ ON THE HORIZON
The top holder of ETH is now Ethereum 2.0. Staking means pledging crypto to the blockchain to help secure the network and earn newly-minted coins. Ethereum stakers lock up funds until Ethereum 2.0 is farther along. Ethereum staking now represents the largest allocation of any Ethereum holding. Ethereum 2.0 staking has now reached 6.73 million ETH (worth about $21.2 billion), surpassing the total amount of “wrapped Ethereum” on the network, according to data from blockchain analytics firm Nansen. Read more
CRYPTO DEVELOPER WILL LEAD TWITTER’S DECENTRALIZED SOCIAL MEDIA INITIATIVE
The new lead plans on hiring for the Bluesky team and “partnering closely with Twitter and other companies” as part of the next steps towards fulfilling the decentralized social media plan. Jay Graber, a former software engineer for Zcash and blockchain firm Skuchain, will be leading the anticipated decentralized social media initiative first announced by Twitter in 2019. In a Twitter announcement on Monday, Graber said that they would be in charge of the Bluesky project after working closely with “a group of thinkers and builders” from the decentralized social ecosystem. They plan on hiring for the Bluesky team and “partnering closely with Twitter and other companies” as part of the next steps towards fulfilling the decentralized social media plan. Read more
MEET KAIKEN INU: THE HOTTEST MEME COIN ON THE MARKET
Cryptocurrencies are largely community-driven. Meme coins have evolved to represent the internet culture and the power of the crypto community who believe in the future of an alternative decentralized monetary ecosystem. The leading meme coin DOGECOIN has already garnered a very strong and active community with Elon Musk as one of its fans. The culture of meme coins has gained greater significance over the past two years as DeFi protocols see an influx of institutional investors. Read more
BITFARMS INCREASES REVENUES BY ALMOST 400% IN Q2
The crackdown on crypto mining in China has helped the results and outlook for the Canadian bitcoin mining firm. Canada-based bitcoin (BTC, -3.32%) mining company Bitfarms reported Monday that its sales grew 396% year-over-year to $36.7 million in the second quarter. It recorded an operating loss of $2.1 million and a net loss of $3.7 million for the quarter. Shares of Bitfarms were up 0.5% to $6.42 in after-hours trading on Monday following the release of its earnings. Shares are up almost 240% year to date as China has cracked down on crypto mining and the price of bitcoin has increased significantly. Read more
At current burn rates, 2.3 ETH per minute, or $6,600, is going up in smoke. Approximately 2.3 Ether (ETH) is being burnt every minute through the new transaction fee mechanism introduced in Ethereum’s London upgrade on Thursday. The highly anticipated London hard fork went live on Thursday this week, ushering in the Ethereum Improvement Proposal (EIP) 1559 upgrade that adjusted gas fees. Part of that adjustment introduced a mechanism that burns some of the base fees collected. Read more
A SNEAK PEEK INTO HYPERSIGN’S DECENTRALIZED IDENTITY AND ACCESS MANAGEMENT INFRASTRUCTURE
Today’s digital landscape is rife with privacy and data violations. Either implicitly or explicitly, our identities have been handed over to social media platforms and big tech, or outright stolen by bad actors. Privacy is quickly becoming a quaint ideal of the past rather than the fundamental right it deserves to be. Read more
UK DETECTIVES SEIZE USB STICK WITH $9.5 MILLION IN ETHEREUM IN ALLEGED CRYPTO SCAM
Detectives in the United Kingdom have reportedly seized a USB stick with $9.5 million in Ethereum (ETH) that was believed to be stolen through an alleged crypto scam. In a statement, the Greater Manchester Police (GMP say that their specialist officers from the Economic Crime Unit retrieved the USB stick after tracking down two alleged operators of a fake savings and trading service. The scheme reportedly targeted victims in the UK, US, Europe, China, Australia and Hong Kong who deposited their money and life savings into the alleged fake service using smart contract platform Binance Smart Chain. Read more
MEET RADIOLOGEX, ONE OF TOP BLOCKCHAIN-BASED HEALTHCARE INITIATIVES
The adoption of blockchain technology in the healthcare industry requires a consensus among multiple parties to promote end-to-end operability, connectivity, and scalability. The adoption of blockchain-enabled healthcare solutions can be fostered across the industry to facilitate the delivery of true innovation that will benefit patients as well as industry professionals. Read more
CHIPMAKING GIANT INTEL BUYS A SMALL STAKE, NOT EVEN WORTH A MILLION DOLLARS, IN COINBASE (COIN)
Cathie Wood meanwhile continues to buy COIN shares, making it the fund’s 4th largest holding worth more than $1 billion. The chipmaker giant, Intel Corp. has disclosed a small stake in the US cryptocurrency exchange Coinbase. The stake, however, is really small and not even worth a million dollars. On Friday, the chipmaker reported holding about 3,014 shares of Coinbase’s Class A common stock as of June 30 in a regulatory filing. This makes their stake at just under $800,000, with COIN shares trading at $261.25, down over 39% from its all-time high of $429.54, hit briefly on its debut day. Read more
ARGENTINA PRESIDENT WEIGHS BITCOIN LEGALIZATION. BUT HIS GOVERNMENT DOESN’T AGREE
While Argentinians keep fighting the racing hyperinflation, the authorities keep displaying mixed feelings on the Bitcoin adoption subject. In a recent interview, the President of Argentina Alberto Fernandez said he sees no reason to push against crypto, but in contrast to his openness, the head of the country’s Central Bank, Miguel Pesce, prepares for a crackdown on the industry. Already in April, the Central Bank of Argentina instructed local banks to scrutinize clients that hold cryptocurrencies and engage in business or trading activities involving crypto, but just last month, a member of the National Congress José Luis Ramón submitted a bill that would allow salaries in Bitcoin and muscle the country’s adoption process. Read more
AMERICA’S LARGEST RETAILER, WALMART, IS HIRING A “CRYPTOCURRENCY PRODUCT LEAD”
With this crypto move, the eCommerce company aims to enable a broader set of payment options for its customers. After e-commerce giant Amazon, multinational retail corporation Walmart is the latest company to hire a crypto lead. Less than 24 hours back, the company posted a job for a digital currency and cryptocurrency product lead. For this job, Walmart requires someone passionate about Digital Currencies and would be responsible for developing the digital currency strategy and product roadmap at the company. Read more
US STATE DEPARTMENT OFFERS UP TO $10 MILLION IN CRYPTO REWARDS TO WHITE HAT HACKERS
The United States is offering crypto assets to incentivize white-hat hackers to uncover state-sponsored actors and potential terrorists on the dark web. The United States government is offering rewards in cryptocurrency for information relating to the operations of enemy state-backed hackers or suspected terrorists. The U.S. State Department’s new “Rewards for Justice” platform allows informants to submit anonymous tips and information in return for rewards in digital assets. The platform was promoted at the Black Hat USA event — which ran from July 31 to August 5 in Las Vegas — with users able to submit tips via an unsecured Wi-Fi network called #Rewardsnotransoms. The open network was purposely set up to encourage attendees to log in and access the RFJ website, according to CNN. Read more