Five top managers of the CoinMarketCap tracker, including interim CEO Karilyn Chan, have left the company. Spencer Young, Vice President of Product Jeremy Seow, Project Manager Matthew Lipple and Event Manager Jared Chin have resigned along with Chan, The Block reports.
CoinMarketCap CEO Leaves Company
US Stocks To Close For Greater August Earnings Than Bitcoin
While Bitcoin expects August to rise for the first time in three years, the cryptocurrency is still lagging behind US stocks in a month.
Bitcoin is still down 40% from its all-time high of $ 20,000 and looks relatively undervalued compared to US stocks, which are trading at all-time highs even amid the ongoing coronavirus epidemic.
According to Joel Krueger, currency strategist at LMAX Digital, a potential stock correction still poses risks for bitcoin.
Bitcoin lags behind US stocks
Opinion: Explosive DeFi Growth Could Lead To A New Economic Bubble
The developers of the protocols associate the boom in DeFi with the actions of speculators who buy management tokens for their further resale.
The founders of the popular DeFi protocols are concerned that the explosive growth of the decentralized finance industry is driven by trivial greed, which could lead to a market bubble. According to the Decrypt portal, the developers talked about this at the annual Smart Contract Summit 2020.
Opinion: Implications of DeFi Growth
New madness is served on the DeFi table, competing with Uniswap – sushi
A new item has appeared in the table of decentralized finance – SushiSwap.
While some see this as a potential threat to the Uniswap decentralized exchange protocol, others expect it to disappear. However, it records good performance in terms of daily trading volume and total locked value.
Regarding this new item, one commenter described it as “essentially Uniswap, but with its own governance token issued by the LP that generates income from trading fees.”
New Madness – SushiSwap
South Africa May Introduce Tighter Cryptocurrency Tax Rules
Analysts say South Africa’s tax office may impose stricter taxes on crypto asset holders in the country.
Vihann Olivier, partner in the audit arm of Mazars’ international accounting and tax consulting firm in the South African subsidiary, said the country’s tax authorities intend to introduce a number of measures that will attract the attention of crypto traders.
Taxation of cryptocurrencies in South Africa
The cryptocurrency market recorded the longest drop in the share of Bitcoin dominance
In the cryptocurrency market, the concept of the “share of dominance” of Bitcoin may disappear, this parameter dropped to 57% in 2020.
Analysts predict that in 2021 the capitalization of Bitcoin will cease to occupy a dominant position; after 2022, the main cryptocurrency will no longer rise above 50%.
Investors are paying more and more attention to altcoins and Ethereum tokens, in the wake of the development of the decentralized finance industry. Zero rates of the central banks of developed countries force them to look for other, safe ways to place funds in order to make a profit.
Falling share of Bitcoin dominance
Bitcoin whale prepares to crash cryptocurrency on Kraken
Unknown whale deposited over 10,000 bitcoins on Kraken
An unknown large cryptocurrency holder bitcoin transferred almost $ 150 million in a digital asset to the Kraken cryptocurrency exchange in a day
This sharp replenishment of the exchange’s balance is the largest in the summer of 2020.
In the cryptocurrency community, such a sharp inflow of assets is usually regarded as a signal for an upcoming increase in volatility.
Sharp influx of bitcoin on Kraken
Malaysian authorities arrest miners for stealing $ 600,000 of electricity
Officials in the Malaysian state of Johor have shut down two crypto operations.