Coinbase (a popular crypto platform) has made public that it is exploring to support for eight new digital assets. They are namely: Algorand (ALGO), Cosmos (ATOM), Dash (DASH), Decred (DCR), Matic (MATIC), Harmony (ONE), Ontology (ONT) and Waves (WAVES). In its announcement: “Stablecoins are beneficial to anyone who trades crypto, but also have the potential to materially improve the lives of people in countries where inflation is eroding wealth.”
A cryptocurrency exchange based in Japan, Bitpoint has reportedly restarted its trade services after a major security breach incident worth of $28 million happened in mid-July. The cash deposits and withdrawals in fiat currencies have been opened on August 6th, the margin trading services will be launched on August 9th and also confirmed that the hacked wallet is no longer in use and not under threat anymore.
The CEO of crypto payments firm Circle, Jeremy Allaire, has predicted that macroeconomic turmoil is the major engine behind the bitcoin rally. He stated: “You can very clearly see some macro correlation there. I think the broader theme of, Bitcoin specifically, crypto more broadly participating in these global macro forces is becoming more clear. Rising nationalism, rising amounts of currency conflict, trade wars, these all obviously are supportive of a non-sovereign, highly secure digital store of value.”
Tezos (XTZ) cryptocurrency which has recently seen a surge in market capitalization is now supported by U.K. based traders platform & exchange, EToro. Yoni Assia, CEO of EToro claimed, “As we see financial institutions move more into the world of crypto, it is important that ordinary investors can take advantage of these technological developments, which is why we’re excited to be adding coins like Tezos to eToro.”
The Google Trends has revealed that bitcoin is a more searched term than stocks, this means that more investors and people are turning to using cryptocurrencies. The analysis also broke that especially millennials (born between 1990s to early 2000s) are much interested in blockchain and cryptocurrencies. It’s also worthy to note that since the origin of Bitcoin to Q1 2017, cryptocurrency did not exceed those of stocks search.
The Founder of Zcash and CEO of Electric Coin Company (ECC), Zooko Wilcox has appealed for a new funding model for the development of its Zcash. Wilcox said: “I hope that the community will decide to renew the ‘Dev Fund’ structure, allocating coins from future block rewards for core support functions such as software development, user support, business development, regulatory and government outreach…”
An announcement has been made by the People’s Bank of China (PBoC) regarding their intention to accelerate the development of its cryptocurrency. Apart from that, PBoC has also shared that they should accelerate the research and the development of its digital currency and paying attention to the domestics and foreign currency and strengthen their financial risk remediation.
Samsung has shared that the demand for cryptocurrency mining in its second quarterly report this year. It has also raised its profit target for the coming half as the market for High-Performance Computing (HPC) Chips, especially the ones used for the mining of digital currency has increased. GM of Samsung Foundries earlier revealed that they’re working on designing and the manufacturing of 3nm and 5nm chips for the mining of Bitcoin.
Ovadia (founder and CEO of crypto exchange based in South Africa Ovex) has predicted and made public his opinion that in 10 years everyone will be using cryptocurrency. He commented, “One of the biggest barriers internationally is a lack of education on the nascent technology.” He bats for education to more people to improve the penetration of the technology & pushes for crypto exchanges, which offer a legitimate and secure means to buy and sell cryptocurrencies.
Apple Card, which is developed in partnership with Goldman Sachs and Mastercard which is expected to come out by the end of this month has revealed that users shouldn’t try to use it for purchasing cryptocurrency. Apple explained, “This has no card number, CVV security code, expiration date or signature on the card, which makes it more secure than any other physical credit card.”