Amid the looming Ethereum London hard fork, Pantera Capital CEO Dan Morehead predicted that the upcoming upgrade would likely help Ether (ETH) outpace Bitcoin (BTC) as the largest cryptocurrency.
The most popular privacy coin monero (XMR) appears to have been largely unaffected by the news of the extradition of its former lead maintainer Fluffypony – who will face fraud charges in South Africa.
The peer-to-peer non-fungible token (NFT) marketplace, OpenSea has skyrocketed in just a month, from 90.5 percent ETH transfers in June to 96.3 percent in July. The company has seen an exceptional market share value of over 90 percent, placing it at the top of the NFT marketplace. Chinese journalist, Colin Wu reported the hike in stats on Twitter today.
After climbing to $42,000 over the weekend, it appears like Bitcoin is losing pace once more. As of press time, the world’s largest cryptocurrency was down 3%! Bitcoin is currently selling at $38,591 with a market capitalization of $724 billion.
Crypto whales moved hundreds of millions of dollars worth of Tether (USDT) on and off exchanges over the weekend as Bitcoin soared to its highest prices in more than a month.
The Security and Exchange Commission in the US has maintained that it would work towards greater investor protection plans in the coming days. Gary Gensler during an interview with Bloomberg revealed that his deep interest in the subject won’t come in the way of necessary regulatory oversight. Gensler was expected to have a crypto-friendly approach because of his deep understanding of the subject, but his early testimonies and actions indicate that he would maintain a similar stance to his predecessor.
Payments behemoth PayPal is expanding their crypto personnel. The company is reportedly hiring over 100 crypto-related employees as consumer crypto demand continues to grow. Over the past week, PayPal has been in continued conversations around growing it’s crypto services.
Independent Reserve, an Australian crypto exchange founded in 2013, has become the first cryptocurrency exchange in Singapore to receive an “in-principle approval” to operate as a fully regulated virtual asset service provider (VASP).
India’s Ministry of Finance has answered some questions regarding the status of cryptocurrency trading in the country as well as crypto regulation and investor protection. The minister of state for the finance ministry has indicated that the recommendations in the draft bill proposed by the interministerial committee are still being considered.
The cryptocurrency industry keeps growing remarkably. In an outstanding development for the space, multinational financial services firm Wells Fargo has rolled out Bitcoin and other crypto services for its wealthy clients.