ETH might reach its all-time high earlier than BTC in the long term

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Weekly Market Summary

Binance has hired Greg Monohan, a former US government cybercrime expert and investigator, to head the exchange’s anti-money laundering requirements.

The exchange stated in a prepared statement that his specific role will be as a Global Money Laundering Reporting Officer (GMLRO).

The move comes amid a series of strings of disagreements between the cryptocurrency exchange and financial services regulators around the world.

Binance CEO CZ said: “We have always held Binance to the highest standard to safeguard our users’ interests, and to that end, we are always expanding our capabilities to make Binance and the wider industry a safe place for all participants.”

Because of China’s constant changes in their attitude towards crypto, their logic remains a mystery. Well-known journalist Colin Wu has reported that Binance “resumed the registration of Chinese mobile phone numbers after suspending for two weeks”. The suspension was a result of China’s regulations and pressures, but now the Communist Party has changed their mind and allowed it again.

Just yesterday, however, the Chinese Central Bank branch in Shenzhen ordered 11 tech companies to stop illegal cryptocurrency-related activities, signaling a further escalation in the crackdown on digital assets. So, what do they think of crypto, really? No-one can tell.

Quick weekly news:

• In Latest Crypto Crackdown, Spain Warns Huobi Is Unlicensed
• Australian regulator issues warning about unlicensed crypto businesses
• El Salvador’s Bitcoin Law Endangers Local Companies
• DAO Maker published a compensation plan

Other notable events include:

• Buy A Tesla With Dogecoin or Other Cryptocurrency
• Ethereum might reach its all-time high earlier than Bitcoin in the long term

Buy A Tesla With Dogecoin or Other Cryptocurrency

Bots Inc (OTCMKTS: BTZI), a Puerto Rican technology company, specializing in Blockchain-based solutions such as decentralized finance applications for the financial industry, cybersecurity solutions, crypto mining, consulting, mining equipment repair and insurance, is accepting Dogecoin as a form of payment for pre-owned Teslas.

Local auto dealerships may now take DOGE and other cryptocurrencies as payment, according to the company’s press statement.

Bots said it moved to offer Dogecoin merchant services after seeing demand from car dealers and manufacturers.

As cryptocurrencies like Bitcoin and Dogecoin gain in popularity, many car dealers and manufacturers have recognized this as an opportunity to reach new customers. BTZI will be offering Dogecoin merchant processing services to Pre-owned TESLA EV dealers and individuals first.

Ethereum might reach its all-time high earlier than Bitcoin in the long term

According to a recent analysis, Ethereum’s native token, Ether (ETH), may surpass Bitcoin (BTC) on a new all-time high level.

Ki Young Ju, CEO of on-chain analytics service CryptoQuant, tweeted on Wednesday “Higher demand, lower supply. ETH sell-side liquidity crisis still intensifies, while BTC exchange reserve stopped its downward trend in May.” It may give ETH the upper hand over BTC because the accumulated Bitcoin reserve on the crypto exchanges overall is low. This might signal that the Bitcoin market is preparing for the bull-trend sentiment in the near future

Despite attention focusing on Bitcoin reclaiming $50,000, optimism over Ether remains high following its successful London hard fork deployment earlier this month.

Thanks to the supply changes pushed through via the hard fork, a liquidity shortfall might eventually help propel ETH/USD to new record heights before BTC/USD manages to do the same.

• Spot trading: At the spot trading front Bitcoin (BTC) and Ethereum (ETH) have become new favorites. Cardano (ADA) and Polygon (MATIC) were disposed to third and fourth places.
• Derivatives: Solana (SOL) and Bitcoin (BTC) have become the most traded currencies as to trading derivatives. Polygon (MATIC) is following these two head to head with Cardano (ADA) and Axie Infinity (AXS) taking fourth and fifth places.

New Listings on CoinbasePro:

• TrueFi (TRU/USDT, TRU/EUR, TRU/BTC)
• Request (REQ/USDT REQ/BTC, REQ/EUR & REQ/GBP)

New Pairs on Binance:

• QuickSwap (QUICK/USDT)
• Orion Protocol (ORN/BUSD)
• Alien Worlds (TLM/TRY)

New Listings on Kucoin:

• Cirus (CIRUS/USDT)
• Project TXA (TXA/USDT TXA/USDC)
• Request (REQ/USDT)
• GALAX (GALAX/USDT)
• IoTeX (IOTX/USDT)

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!

 

We have prepared top-performing coins of Aug 19 for you.

Avalanche has managed to become the best performing asset among TOP-100, gaining 40.07% within the last 24 hours.

Ravencoin was the worst-performing asset among TOP-100 (again), losing 5.43% 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

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