Nightly News Digest for August 7, 2024

Bitcoin (BTC) cryptocurrency is struggling to regain key price levels amid market volatility. The digital coin rose to $57,500 yesterday but then bounced back to $55,000. Overnight, the price began to rise again, and by the morning, the digital coin was trading at $57,230. Bitcoin needs to close the week above $59,100 to maintain its bullish momentum, but resistance remains.

ETH Trading Volumes Rise Sharply

According to experts, Jump Trading started selling off Ether (ETH) on August 5. This led to a sharp drop in prices, but an increase in the volume of transactions on the market. The quotes have been successfully recovering in recent days. However, yesterday there was news about the transfer of about $2 billion in ETH from a wallet associated with the Plus Token Ponzi scheme. ETH is currently trading at around $2,430, which is 2.73% lower than yesterday’s figures.

BlackRock Initiatives in Partnership with Nasdaq

BlackRock and Nasdaq have decided to introduce options on ETH ETFs in the U.S. The proposal filed with the SEC aims to amend the rules to make it easier to trade options on the iShares Ethereum ETF Trust. The move could provide investors with additional ways to hedge their portfolios against price fluctuations.

Mox Bank Launches Bitcoin ETF in Hong Kong

Standard Chartered’s Mox Bank Introduces Spot Funds Bitcoin and Ethereum on its platform. It is the first virtual bank in Hong Kong to take such a step.

Wells Fargo to Offer Bitcoin ETF to Select Clients

The company plans to allow its financial advisers to offer Bitcoin ETFs to select clients, following Morgan Stanley’s lead. The move is aimed at meeting growing demand for cryptocurrency investments.

Michael Saylor’s Bitcoin Assets Surpass $1 Billion

Michael Saylor’s BTC holdings have surpassed the $1 billion mark, highlighting his strong commitment to cryptocurrencies despite the recent market downturn. The MicroStrategy chairman has emphasized the long-term value of Bitcoin.

Grayscale Launches Blockchain and AI Trusts

Grayscale has expanded its investment offerings. The company has introduced two new trusts focused on blockchain and AI innovation. Grayscale Bittensor Trust will invest in the TAO (Bittensor) token, while Grayscale Sui Trust will focus on SUI.

IMF acknowledges El Salvador’s progress

The International Monetary Fund (IMF) has declared the strategy of implementing bitcoins in El Salvador a success. Experts noted that the expected risks “did not materialize.”

Hackers Hack Nexera

The Nexera protocol fell victim to an exploit. Attackers stole digital assets worth $1.8 million. This led to a 48% drop in the value of the NXRA token.