$BTC 24 Hour High $12,359.06 $BTC 24 Hour Low $11,806.70 $BTC -4.15%
Total Market Cap $384BN (+2.40%)
24 Hour Volume $119 BN (+22.68%)
Notable Movers yearn.finance (YFI) (+45.03%)
BTC Dominance 59% (+1.03%)
Satoshi’s argument supporting the emergence of bitcoin (free of political wrangling) is going viral (again) as $BTC reaches new yearly highs.
$BTC rises to 12K and maintains its foothold after a 4% move over the three days prior. It rejected 12,500 and currently range bound between 12,300 and 12,400 on overbought RSI levels and trading in the upper Bollinger bands
$BTC futures volume topped out at 20B with the movement, nearly half of the 40B volumes in comparison to July 27th when it broke 10K.
82.7M short contracts liquidated on the 12K move up, with open interest at 5.8 on a sharp incline towards 6B
$ETH seeing some residual volatility with ETHBTC dropped 6% during the three day $BTC run from 0.037 to 0.035. ETHUSD ended the day unscathed off the $BTC momentum, currently trading at 432 on neutral RSI levels and at the middle of Bollinger bands. $ETH Devs fixed a bug that took down its 2.0 Medalla testnet with issues surrounding validators unsyncing.
Likely factoring into yesterday’s price drop amongst other indirect reasons — other DeFi coins getting the attention, $BTC going up, FOMO.
$DOT - Polkadot releasing into the wild tonight.
Societal Value Favored Over Shareholder Value; Bitcoin Favored Over Cash
Since introducing the concept of the four types of digital assets, we have spent a disproportionate amount of time educating investors on the three least well known categories (protocols/platforms, asset-backed tokens, and pass-thru securities). We don’t intentionally gloss over “Money/Cryptocurrencies”, but we spend much less time on it simply because it’s the least interesting bucket from an investing standpoint (Bitcoin plus a handful of what we consider to be inferior competitors). However, corporate finance departments around the globe are about to make cryptocurrencies much more interesting in the coming months and following years.
Ethereum co-founder Vitalik Buterin said he would "freely admit" that Ethereum 2.0 is "much harder" to implement from a technical perspective than he had expected. Read more. "I definitely freely admit that Ethereum 2.0 is much harder than we expected to implement from a technical perspective," Buterin said. He continued: "I definitely don't think that we discovered any fundamental flaws that make it impossible, and I do think it will be finished. It's just a matter of time, and it's actually been progressing quite quickly lately."
Alt and DeFi:
$LTC made a solid move, up 6.8% overnight to 67
$XRP regaining usage momentum, volumes up 49% with its market cap up 6.7% overnight. Trading at 0.31 after moving 8% over the last three days.
$TRX up 17% to 0.031, up 5 days straight, hidden under the shadows of $BTC, $ETH and DeFi. Traded majority of July below 0.02, and slightly above 0.02 in August. Up total of 60% during these five days.
$YFL up three days straight, from 5,404 to 8,826 after dropping as low as 3,000 levels on Aug 13th
$LINK down to 17.50 levels during the BTC push, down two days straight with support levels at 16.55 and 15.38, around 5% and 11% away from these support levels. Trading at oversold RSI levels and looking to rebuild momentum to challenge resistance at 19
After a strong 40 percent correction after garnering a listing on Binance, Yearn.finance (YFI) is back in the spotlight as the decentralized finance altcoin has more than doubled in approximately three days. The Ethereum-based coin trades at an all-time high price of $9,200, up 30 percent in the past 24 hours alone. YFI’s surge comes as the decentralized finance space has continued its ascent, spurred by the launch of Curve’s native token based on Ethereum, CRV.
In the tech sector Huawei and ZTE continue to face restrictions on their 5G products in the USA as Sino-US talks stall
Tesla reaches 1800 off an 8% upswing with its 5-1 stock split intentions