Friday, August 7, 2020

Libra’s monopolization concerns, China’s rain wrecks bitcoin mining: Crypto In-Shorts

The Takeaway:

20 August 2019. Are you tired of scouring the web for the latest crypto-updates? Enter the world of Crypto In-shorts on Chaintimes and find all you need!

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Crypto bulletin

Libra is unliberated from global scrutiny. Bloomberg reported the European commission’s antitrust regulators probing into Facebook’s digital currency. Regulators express their concern over Libra potentially monopolizing the market and promoting anti-competitive behavior. Official confirmation was unavailable as both the commission and Facebook’s representatives declined to comment.

Rain wreaks havoc in Sichuan, China, leaves eight people dead and 24 missings. Life and property are adversely affected, and a video captures the demolition of a Bitcoin mining farm. The consequence of this natural disaster on the price of Bitcoin may become apparent as 70% of mining happens in China.

Bitcoin Price

Current Bitcoin Price – $10,161.71

Bitcoin opened at a price of $10,916.35. The fluctuations drove it to the lowest value of $10,618.96 and the highest value of $10,947.04 in 24 hours. Bitcoin closed at $10,763.23 and saw a decrease of 1.40% throughout the day. The crypto coin is still below its all-time high value of USD 20,089.00 by 45.5%.

Ethereum Price

Current Ethereum Price – $186.09

Ethereum opened at $202.81. The fluctuations drove it to the lowest value of $195.62 and the highest value of $203.02 in 24 hours. Ethereum closed at $196.57 and saw a decrease of 3.08% throughout the day.

The crypto coin is still below its all-time high value of USD 1,432.88 by 85.83%.

Bitcoin Market Cap

The day ended with $182,110,285,696 for the Bitcoin Market Cap.

 

Ethereum Market cap

The day ended with $20,217,255,948 for the Ethereum Market Cap.

Bitcoin Trading Volume

The 24-hour trading volume of Bitcoin – $16,896,494,010

Ethereum Trading Volume

The 24-hour trading volume of Ethereum – $7,017,526,792

Whale alerts

Crypto enthusiasts beware of these whales

  1. 5,000 BTC ($51,087,780 USD) transferred from Unknown wallet to Bitmex. Transaction ID: eaf102244fb977df6c649f4c57fb10291dd0b820361d529bdf3a81a757e3e6b9
  2. 190,119 ETH ($37,247,988 USD) transferred from Unknown wallet to Unknown wallet. Transaction ID: 0x7d546bee452020ebf5ae967bdf3168880af252c6aa830539ab55c1ce47bc1d0a
  3. 2,800,000 USDT ($2,806,865 USD) transferred from Unknown wallet to Huobi Exchange. Transaction ID: 0xf2846a4feb0cddfe2637eea88584af14c5fc0031818c2e00283486de446f9095

Crypto controversy

@Bitcoin, after their split with Bitcoin cash, have gone on a twitter cleanse

What to expect today?

Donald Trump signed a budget bill with the Democratic House and the Republican-controlled Senate, adding another $1.7 trillion to the national debt. Will this bill bring down the USD in comparison to bitcoin?

Moscow’s voting system based on Ethereum blockchain cracked down by a French Researcher just a month before the coming elections. Will the issue be fixed before the polls? Will Ethereum become a part of the first-ever blockchain-based election?

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Harry Finnerty
Harry Finnerty
After completing his graduation from Strayer University, Harry started to work in the real estate industry. However, soon he realized that his real interest is in the financial industry and once he came to know about bitcoin and the technology behind it, he dedicated his life to understand and write about it.

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