Cryptocurrency News Digest for the Night of August 20, 2024
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Johny Smith
2024/09/20
3 mins read
Bitcoin (BTC) quotes have risen by 4% over the past 24 hours. The asset’s value exceeded $61,000, but then corrected to $60,850. The digital coin ether (ETH) also gained in price by about 2% and traded at $2,665. Bitcoin-ETF flows were positive and amounted to $62.1 million. BlackRock recorded receipts of $92.7 million.
- Ethereum Gas Price Drop
- Bitwise Expands in Europe
- Gate.io and UAE Launch $100M Fund
- Cryptocurrency Scams in Australia
- Solana faces record outflows
- Increased activity on the TRON network
- Catizen partners with HashKey
- Tether Launches USDT on Aptos Blockchain
- Babylon to Launch Bitcoin Staking Mainnet in August
Ethereum Gas Price Drop
Fees hit a 5-year low due to increased activity on Layer 2 networks. Since the launch of the Ethereum spot ETF in the US, the price of ETH has fallen by 26%, driven by a net outflow of $420.5 million from the ETF and an increase in the supply of coins in the market.
Bitwise Expands in Europe
The platform acquired ETC Group, a London-based issuer of cryptocurrency exchange-traded products (ETPs), bringing Bitwise’s assets under management to $4.5 billion.
Gate.io and UAE Launch $100M Fund
Gate.io and Blockchain Center in Abu Dhabi have launched a $100 million innovation fund aimed at developing decentralized infrastructure and implementing blockchain. The Falcon Gate Ventures initiative is focused on supporting developers.
Cryptocurrency Scams in Australia
Australian financial regulator ASIC has reported on its fight against criminals. Experts have uncovered more than 600 fraudulent schemes last year. Since July 2023, 5,530 fake investment platforms and 1,065 phishing links have been removed.
Solana faces record outflows
The network has experienced significant financial difficulties. About $39 million has been withdrawn from funds SolanaThis comes as information on the Solana ETF filed by VanEck and 21Shares was removed from the Cboe website due to possible disapproval by the SEC.
Increased activity on the TRON network
User activity on TRON’s Sun Pump platform increased this figure by 124%. The Sun Pump token also increased TRX trading volume by 71.56%, pushing the asset’s price to $0.1388.
Catizen partners with HashKey
The developers of the Telegram-based game have announced a partnership with HashKey Group for a joint airdrop. The companies are placing a strong emphasis on developing the TON ecosystem.
Tether Launches USDT on Aptos Blockchain
Tether Holdings representatives announced the exit stablecoin USDT on the blockchain AptsThis move is aimed at expanding access to digital assets worldwide.
Babylon to Launch Bitcoin Staking Mainnet in August
The developers have decided to launch the first phase of the Bitcoin Staking mainnet on August 22, 2024. The project, led by Stanford University professor David Tse, aims to introduce staking into Bitcoin network.
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