Bitcoin hashrate triples since June 28 in recovery from China syndrome

Hello everyone, this is our weekly crypto digest. Here you’ll find everything from a weekly market summary and top news to the hottest new listings on exchanges, and even memes to cheer you up. To get these updates as soon as we post them, follow us on Twitter.

Weekly Market Summary

One of the largest U.S.banks, Citigroup, is gearing up to trade CME Bitcoin futures on the Chicago Mercantile Exchange (CME), CoinDesk reported.

According to a source within the bank who asked to remain nameless, Citi is now actively recruiting people to join the cryptocurrency team in London, adding:

“The team is likely to win approval to begin trading CME bitcoin futures first and then bitcoin exchange-traded notes (ETNs).”

Payments technology company Visa announced Monday that it bought CryptoPunk as it enters into the world of non-fungible token (NFT) commerce.

Visa bought one of 3,840 female punks, CryptoPunk 7610, for around $150,000 last week.

“We felt that CryptoPunks would be a great addition to our collection of artifacts that can chart and celebrate the past, present, and future of commerce,” Visa’s head of crypto, Cuy Sheffield, told in The Block interview.

Quick weekly news:

• Axie Infinity players must pay tax on income from the game
• Bitcoin Lobby Fails to Sway House
• New Study Finds U.S. Leads DeFi Adoption
• Bitcoin hashrate triples since June 28 in recovery from China syndrome

Other notable events include:

• Kraken Hunting New EU License After Brexit
• El Salvador’s Bitcoin adoption may transform remittance in Central America

Crypto Exchange Kraken Hunting New EU License After Brexit

The second-largest cryptocurrency exchange in the United States by trading volume, Kraken, negotiates with European regulators to get a license to join the European market by the end of 2021.

According to a Kraken spokesman, the exchange is already formally present in Europe, however, currently offers access to its European clients through an organization registered with the Financial Conduct Authority of the United Kingdom (FCA).

“We are working on a license in an EU country,” Kraken’s founder and CEO Jesse Powell said in an interview with German business publication Handelsblatt.

While the negotiations are still underway, there hasn’t been an official decision yet.

El Salvador’s Bitcoin adoption may transform remittance in Central America

According to the Central American Bank for Economic Integration (CABEI), remittances are an important aspect of El Salvador’s Bitcoin (BTC) adoption policy.

The regional development bank expects other Central American countries to pay careful attention to Bitcoin’s impact on remittance costs in El Salvador, aссording to Reuters.

The executive president of the Central American Bank for Economic Integration (CABEI), Dante Mossi said as follows: “Everyone is watching if it goes well for El Salvador and if, for example, the cost of remittances drops substantially … other countries will probably seek that advantage and adopt it,”

According to the CABEI CEO, El Salvador’s Bitcoin adoption strategy is an “out of this world experiment” that may contribute to greater financial inclusion in the country.

In theory, Bitcoin offers a quick and cheap way to move money across borders without having to rely on established channels.

• Spot trading: At the spot trading front Bitcoin (BTC) and Ethereum (ETH) have become new favorites. Audius (AUDIO) and Cardano (ADA) were disposed to third and fourth places.
• Derivatives: Bitcoin (BTC) and Solana (SOL) have become the most traded currencies as to trading derivatives. Binance Coin (BNB) is following these two head to head with Raydium (RAY) and Ethereum (ETH) taking fourth and fifth places.

New Listings on Binance:

• Tribe (TRIBE/BTC TRIBE/USDT TRIBE/BUSD TRIBE/BNB)
• WAX (WAXP/BNB WAXP/BUSD WAXP/BTC WAXP/USDT)

New Pairs on Binance:

• Stafi (FIS/BRL)
• Aavegotchi (GHST/USDT)
• ForTube (FOR/USDT)
• Request (REQ/USDT)
• TrueFi (TRU/RUB)

New Listings on Kucoin:

• pNetwork (PNT/USDT PNT/BTC)
• Oddz (ODDZ/USDT)

New Pairs on Kucoin:

• Terra (LUNA/ETH)
• QiSwap (QI/BTC)

By the way, our PRO plan includes new Exchange Listing alerts for all 27 exchanges in our app. Become a PRO and receive an instant notification when a new coin is listed on Coinbase Pro, Binance, or an exchange of your choice!

Axie Infinity is a blockchain-based trading and battling game that is partially owned and operated by its players. Axie Infinity is inspired by popular games like Pokémon and Tamagotchi and allows players to collect, breed, raise, battle and trade token-based creatures known as Axies. Each Axie is a non-fungible token (NFT) with different attributes and strengths and can take various forms.

To help control the population of Axies, each one can only be bred a total of seven times, unlike some other blockchain-based battling and breeding games.

AXS token holders will soon be able to stake their tokens to receive regular rewards. Unlike some other stakeable assets, however, AXS holders will have to vote and play to receive their rewards.

Recent announcements:

Why has Axie Infinity (AXS) grown 750x in just one year
Wault Finance to Lend 25 Users Axie Infinity NFTs Through Wault Scholarship Program

🔥DYOR:

Website
Twitter

 

We have prepared top-performing coins of Aug 26 for you.

Tezos has managed to become the best performing asset among TOP-100, gaining 12.17% within the last 24 hours.

Avalanche was the worst-performing asset among TOP-100 (again), losing 14.90% within the last 24 hours.

To get up-to-date reports on gainers and losers during the week, follow us on Twitter.

 

Top cryptomeme of the week

NFT madness

We hope you found this digest useful and informative! If you want to be the first one to receive new crypto insights and stay up-to-date with the market, follow us on Twitter. Happy trading with the Good Crypto app!