BITCOIN – BTC/GBP

We had said in our previous analysis that bears will continue to defend the £31,005 levels aggressively and that is what happened. The failure of the bulls to push the price above £31,005 between July 30 and August 1 attracted profit-booking from short-term traders.  Read more

ETHEREUM – ETH/GBP

We had mentioned in our previous analysis that Ether may rise to the psychological level at £2,000 and that is what happened. The biggest altcoin rose to £1,938 on August 1. The ETH/GBP pair formed an inside-day candlestick pattern on August 2, indicating indecision among the bulls and the bears. If bears sink the price below £1,800, the pair could drop to the 20-day EMA. Read more

RIPPLE – XRP/GBP

The bulls pushed XRP above the 50-day SMA on July 28 but they could not clear the hurdle at £0.53566. This suggests that the bears have not yet given up and are defending the overhead resistance aggressively. The moving averages have completed a bullish crossover and the RSI is in the positive territory, indicating that buyers are in command. If the price rebounds off the 20-day EMA, the bulls will again try to push the pair above £0.53566. Read more

CARDANO – ADA/GBP

Cardano has been trading between the moving averages for the past few days. Though the bulls pushed the price above the 50-day SMA on August 1, they could not sustain the higher levels as seen from the long wick on the day’s candlestick.  Read more

BINANCE – BNB/GBP

Binance Coin has been trading close to the overhead resistance of £236 for the past few days. This suggests that bears are defending this level but the bulls are not giving up.  Read more

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Gold Secured Currency (GSX) is a token on the Apollo blockchain that is backed by an asset trust, which is currently composed of mining alluvial gold. GSX is a combination of stable coin and traditional cryptocurrency. GSX utilises both aspects to have a value that is backed by physical assets in its asset trust and that can grow in the same way as other cryptocurrencies. GSX have rights to minerals and land that is in Southern Africa. Other products will be included to generate income that will support the GSX token and continue its maintenance. Read more

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The Coop Network has adopted the GEOMA DAO COOP model, which is essentially a hybrid and unique economic model that uses the cooperative system in combination with the DAO (Decentralised Autonomous Organisation) model offered by the blockchain technology. Read more

The top holder of ETH is now Ethereum 2.0. Staking means pledging crypto to the blockchain to help secure the network and earn newly-minted coins. Ethereum stakers lock up funds until Ethereum 2.0 is farther along. Ethereum staking now represents the largest allocation of any Ethereum holding. Ethereum 2.0 staking has now reached 6.73 million ETH (worth about $21.2 billion), surpassing the total amount of “wrapped Ethereum” on the network, according to data from blockchain analytics firm Nansen. Read more

The coin will allow investors to earn rewards while supporting the city, according to the team behind the project. Miami’s own cryptocurrency, MiamiCoin, will launch tomorrow. The cryptocurrency will essentially allow people to invest in Miami by buying the coin.
Money raised will be used to fund projects and events in the city. Read more

The global payments platform wants to let British customers trade crypto on its new “super app.” Global payments platform PayPal is looking toward the United Kingdom as the next market in which to expand its crypto trading services. According to the company’s second-quarter earnings call on Wednesday, PayPal has done very well out of crypto trading for the period. CEO Dan Schulman stated that the U.K. is likely to be the next country where crypto trading is offered. Read more

The Central American country became the only nation in the world to accept Bitcoin as legal tender earlier this year. Its since gotten both bouquets and brickbats. US financial services player Bank of America, one of the world’s largest banks, has come out in support of El Salvador’s Bitcoin bill in a note to clients last week. It comes even as the country faces opposition from several global bodies for its decision to allow citizens to officially accept Bitcoin as payments for goods and services, and as outbound remittances. Read more

The crypto exchange has been served with a notice to stop offering its services in the country. Malaysia is the latest regulatory theater to come after Binance as authorities in the country have accused the exchange giant of continuing to operate in the country illegally. According to an announcement released on Friday, the Securities Commission (SC) Malaysia has served a public reprimand against Binance, calling for the exchange and all of its entities to cease operations in the country. read more

Centralized exchanges have experienced their heaviest week of Bitcoin withdrawals since November 2020. Bitcoin outflows from centralized exchanges have surged to their highest level year-to-date, with roughly 40,000 BTC being withdrawn over the past seven days. According to the Glassnode’s August 2 The Week On-Chain report, Bitcoin outflows have accelerated to a rate exceeding 100,000 BTC per month for just the third time since September 2019. The on-chain analytics provider estimates that just 13.2% of circulating BTC are currently held on exchanges — a new low for 2021.  read more

Ether has notched a 12-day winning streak, the longest ever. Ether (ETH, -3.95%) looks to extend its record daily winning streak in the runup to a planned upgrade on Ethereum’s blockchain that could significantly reduce the cryptocurrency’s supply growth. The second-largest cryptocurrency was trading 1.6% higher on the day near $2,600 at press time, having rallied 43% over an unbroken string of 12 straight daily price gains, according to Coinbase data. Read more