Ethereum’s network has been displaying bullish indicators, recording its highest level of transactions for a full year this month. As American regulators provide guidance on staking and define it, more Ether will be locked in the Ethereum network.
BitcoinBTC( ), meanwhile, is experiencing a downturn, as the currency’s trading has dropped over 5% during the last thirty days. The flash crash of August 24 was triggered by a whale trading transaction worth $2.7 billion.
Bitcoin Treasury countries are continuing to sell debt in order to finance their largest Bitcoin purchases. Metaplanet and Strategy purchased 5,370 BTC together in August.
State regulators in the US are working closely with seniors advocacy groups to limit crypto ATMs that are used for fraud. In the past month, two states introduced legislation.
This is August in numbers.
Ethereum stakes hit a record high of 36,000,000 ETH in August.
The Ethereum network reached a new high of 1.8 millions transactions on August 5, when it processed the blockchain.
Ethereum has been setting new records in Ether.ETHThis large number of staked Ether indicates that investors are hunkering down. Ether is being staked in large numbers, indicating that investors are getting tense. It’s more rewarding to stake your investments and get rewards on exchanges than it is to sell.
Related: Spot Ether ETF staking could ‘dramatically reshape the market’
US Securities and Exchange Commission issued a press release defining and clarifying its position on liquid stakes. Some took it to mean an Ether ETF (exchange-traded funds) that allows staking.
A whale sells $2,7 billion worth of Bitcoins and causes a massive meltdown
The Bitcoin market experienced a crash on Aug. 24 when a Bitcoin Whale sold over 24,000 BTC, worth $2.7 billion. QCP says the crash occurred on August 24. liquidated Over the course of a minute, some $500 million was leveraged.
Bitcoin traded in a tight range before the sale. Ether, on the other hand, had reached new highs. In August, Bitcoin’s dominance dropped from 60% to just 57%. QCP stated that although Bitcoin is well ahead of where it was during the altcoin seasons in 2021, the approval of Ether ETFs allowing staking could fuel the narrative that ETH would outperform shortly.
Bitcoin ATMs now banned in 13 US states
In August the US states of Wisconsin and Rhode Island introduced laws regulating crypto-kiosks, increasing to 13 states that have such regulations. The US states of Wisconsin and Rhode Island introduced legislation regulating crypto kiosks in August, bringing the total number of such rules to 13.
Most ATM scams are aimed at senior citizens who do not understand new technology like Bitcoin and Crypto. A number of state laws have been written under the guidance and support of the American Association of Retired Persons. This interest group is focused on issues that affect people aged 50 or older.
Metaplanet acquires 1,859 BTC; Strategy nabs 3,511 BTC
Strategy, a leader in Bitcoin treasuries and a leading firm, purchased 3,511 BTC during August. Strategy bought a total of $407.2 Million worth of Bitcoin in August at an average Bitcoin price $116,000 per coin.
Metaplanet, a Japanese investment firm, also bought more Bitcoins to add to its vaults. It purchased 1,859 BTC. According to the average Bitcoin prices, Metaplanet’s total Bitcoin purchases for August are worth over $215.6 Million.
Hackers earn $53 million in August from DeFi exploits
DefiLlama data shows cybercriminals stole over $53 million in decentralized finance exploits (DeFi) during August. This includes the hacking of BtcTurk, a Turkish cryptocurrency exchange that was hacked for $48,000,000. making up the lion’s share.
Hacks are on the rise and crypto companies have been working hard to stop them. Some industry professionals aren’t as optimistic. Ronghui Gu is a professor at Columbia University, and the co-founder of CertiK’s blockchain security platform. said during a Cointelegraph Chain Reaction Daily live X Spaces Show,It’s an endless warHackers and Security Experts
Bitcoins now account for 1,7% of all global cash supply
A report released by the Bitcoin financial services firm River in August found that Bitcoin accounts for 1,7% of global money supply.
It arrived at this conclusion after comparing Bitcoin’s market cap against $112.9 trillion worth of fiat money and $25,1 trillion dollars in hard currency, excluding silver, platinum and rare metals.
River’s research assumed Bitcoin had a $2.4 trillion market cap. BTC has a market cap of $2.21 billion at time of publishing, making Bitcoin’s contribution to global money close to 1.6%.
Magazine: The one thing these 6 global crypto hubs all have in common…
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Source: cointelegraph.com
