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BTC was slightly higher on the day, but ETH was outpacing the largest cryptocurrency by market cap. Bitcoin’s price (BTC) increased 0.3% on Thursday, ending a streak of four consecutive negative days. Average trading volume was larger than average. Prices initially declined 0.5% as U.S. equity markets opened.Ether’s (ETH) price
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On August 8, the crypto exchange and lending platform Hodlnaut announced that the company has paused withdrawals, token swaps, and deposits. Hodlnaut joins a slew of crypto firms that have frozen withdrawals during the last three months, leaving customers little hope that they will see their funds again. Well before
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The exchange, which used to be based out of China, suspended its operations when Chinese regulators made the decision to ban fundraising through initial coin offerings (ICO) in 2017. The move came after the Chinese central bank voiced concerns about the then largely popular and mostly unregulated fundraising method’s use
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The counterparty is not crypto hedge fund Three Arrows Capital, CoinFLEX's CEO said. Source
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The current downtrend of the crypto market has negatively affected financial institutions, particularly those dealing with digital currencies. Currently, some firms are beginning to feel the heat from a different angle. This involves sponsorship deals between these digital currency companies and sports teams. This is particular to the crypto firms that
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Bancor, a decentralized finance (DeFi) protocol often credited as the pioneer of the DeFi space, paused its impermanent loss protection (ILP) function on Sunday, citing “hostile” market conditions.In a blog post on Monday, the DeFi protocol noted that the ILP pause is a temporary measure to protect the protocol and the users.
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The company will also pause its swap and transfer products, according to a blog post. It did not provide a timeline for resuming withdrawals. Source
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Summary: Mike Novogratz believes that Bitcoin will lead the next rally when the US Federal reserve pauses its monetary tightening policy. When Bitcoin rallies, good crypto projects will follow suit. According to Mr. Novogratz, the crypto industry will not go away and is currently adjusting to the popping of the asset bubble caused
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Analysts noticed signs of buyer demand around $38,000 in bitcoin, although it remains to be seen if the cryptocurrency can break above its short-term downtrend. For now, bitcoin appears to be "falling out of the window, but latching onto the windowsill," Alex Kuptsikevich, an analyst at FxPro, wrote in an
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