Bitcoin price remains range bound as equities, gold and US Treasuries offer competitive rates with reduced risk. This week’s CPI report could shake things up.
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Reddit community tokens soar on Kraken listing
The tokens are part of the Reddit Community Points initiative to create cryptocurrencies that would incentivize content creation.
Reddit community tokens soar on Kraken listing
Moon and Brick, two tokens created by users of social media platform Reddit, are up 48% and 443%, respectively, in the past week after being listed on cryptocurrency exchange Kraken.
In an Aug. 7 announcement, Kraken announced the listing of Moon and Brick for spot trading and perpetual futures. At the time of publication, users could only deposit the two tokens via the Arbitrum Nova network.
Moon is a community token created for the r/CryptoCurrency subReddit. Tokens are given as rewards for users' comments and posts. Users can also exchange Moon for badges and emojis for use within in the subReddit. The token also grants voting rights for r/CryptoCurrency community polls.
Meanwhile, Brick is a community token created for the namesake Battle Royale Game's subReddit r/FortNiteBR. Bricks are stored in Reddit's native crypto wallet, Reddit Vault, and distributed to users based on their Karma, or reputation points, every four weeks. Bricks can then be exchanged for special memberships and unlock features within r/FortNiteBR.
At the time of publication, Moon has a fully diluted market cap of $44.3 million, while Brick has a fully diluted market cap of $17.0 million. The r/CryptoCurrency subReddit has 6.6 million members compared to 2.7 million for r/FortNiteBR.
USDC issuer Circle launches MPC wallet beta for Ethereum, Polygon, Avalanche
The stablecoin issuer launched a service and API that allows developers to create customized wallets for their users.
USDC issuer Circle launches MPC wallet beta for Ethereum, Polygon, Avalanche
The stablecoin issuer launched a service and API that allows developers to create customized wallets for their users.
Can Cardano whales stop ADA price from falling 20%?
The price of Cardano (ADA) risks falling by over 20% in August as it enters a breakdown stage of a classic technical pattern that could be offset by some promising fundamentals.
ADA price risks falling to June lows
Dubbed Bump-and-Run-Reversal (BARR), the pattern develops when excessive speculation drives the prices higher quickly, eventually leading to a "bull trap" situation. As it forms, the price trend undergoes three stages — Lead-in, Bump, and Run — as shown below.
Bump-and-Run-Reversal illustration. Source: Warrior TradingThe Lead-in stage sees the price trending upward in an orderly fashion — without any excess speculation. But the Bump stage witnesses a sharp advance in prices, followed by a complete wipeout of the spike.
In the Run stage, the price breaks below the support from the Lead-in trendline. Currently, Cardano appears to have entered the Run phase of its BARR pattern, as shown below.
ADA/USD daily price chart. Source: TradingViewIf the pattern is confirmed, BARR's downside target is measured after subtracting the breakdown point at the support line from the pattern's maximum height. That brings ADA's price target near $0.22 in August or early September, down 20% from current levels.
Coinbase begins $150M debt buyback at 36% discount
The cryptocurrency exchange's 2031 Senior Notes, which have a coupon rate of 3.625%, have $1 billion in outstanding principal.
Free Bitcoin on Zaps experiment — but what are Zaps?
Why a Canadian Bitcoin advocate is giving out free Bitcoin tips, or Zaps, to people around the globe–and why the Zap trend is catching on.
Obligatory license for stablecoins? What do the latest FSB guidelines mean
FSB starts from the definition of “global stablecoin”, which serves as a means of payment and storage and has the potential for adoption across multiple jurisdictions.
Should you just wait for October to trade Bitcoin?
The months of August and September haven't been the best for Bitcoin price historically, and with volatility at historic lows, traders may want to wait it out.
Japanese startup to use stablecoins and CBDC to link Asian countries
Soramitsu is developing a cross-border payment system that uses Cambodia’s CBDCs and targets Japan, India, China and Southeast Asia.
Bitcoin phone home: Use crypto to buy sim cards in 140 countries with Bitrefill
Bitcoin and crypto travelers can bid farewell to telco woes with Bitrefill’s eSims, now available in 140 countries.
How Self-Sovereign Identity helps users own their data
SHIB’s lead developer Shytoshi Kusama recently unveiled plans to integrate Self-Sovereign Identity into Shiba Inu projects.
Bank of England will get more power in regulating stablecoins
The United Kingdom government could rebalance the power between the Bank of England and the country’s principal financial regulator, the Financial Conduct Authority.
Brazilian CBDC gets official name and logo
Previously commonly referred to as “digital real”, Brazilian central bank digital currency gets its official brand name.
Binance sold USDC for BTC & ETH after Silvergate bank collapse: PoR report
Binance’s depleting USDC reserves has become a hot topic in the crypto ecosystem, especially after Coinbase CEO’s quip during the company’s Q2 earning call.
Binance sold USDC for BTC & ETH after Silvergate bank collapse: PoR report
Binance’s depleting USDC reserves has become a hot topic in the crypto ecosystem, especially after Coinbase CEO’s quip during the company’s Q2 earning call.
Bitcoin bears 'in control but exhausted' as BTC price retakes $29K
Bitcoin stages a recovery toward key resistance but fails to break through, but BTC price action is giving some cause for optimism.
Bitstamp crypto exchange to raise funds for global expansion: Report
One of the world’s oldest cryptocurrency exchanges, Bitstamp, is trying to scale its operations with new fundraising advised by Galaxy.
PayPal stablecoin launch sparks wave of fake PYUSD tokens
Less than 16 hours have passed since the launch of PayPal’s new stablecoin (PYUSD), and opportunists, degens and potential scammers are already attempting to cash in on the hype with their own copycat tokens.
According to data from decentralized exchange scanner DexScreener, nearly 30 new token pairs sporting the ticker “PYUSD” have cropped up in the 16 hours since the announcement.
The look-alike tokens have been minted on a variety of different chains including Binance Smart Chain, Ethereum and Coinbases’ newest layer 2 Base.
It’s important to note that the real PayPal USD token was created in November last year, and can be verified at the following contract address.
PayPal explicitly stated that PayPal USD could only be sent between verified PayPal and other compatible wallets, making it extremely unlikely that any of the tokens listed with the same ticker on UniSwap or any other decentralized exchange are the real thing.
