Latest price and news from the crypto space
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The price of bitcoin broke through the $12,400 mark for the first time since July 2019, and is now up 72.3% year-to-date against the United States dollar. The cryptocurrency’s price rise has been accompanied by its hashrate, which hit a new all-time high on Sunday, August 16, of 129.075 EH/s.

Cryptocurrency asset manager Grayscale Investments has announced its Bitcoin Cash and Litecoin Trusts are now DTC-eligible, meaning any investors with access to U.S. securities can invest in BCH and LTC without buying the cryptoassets directly.

Popular cryptocurrency exchange OKEx has confirmed it lost approximately $5.6 million in the recent Ethereum Classic (ETC) 51% attacks, and is now considering delisting the cryptocurrency from its exchanges.

Sponsored: Crypto.com Exchange is listing BAT on The Syndicate, where all Crypto.com Coin (CRO) stakers will be able to participate in a discounted sale event for 500,000 USD worth of BAT at 50% off. The event commenced on Tuesday, 18 August 6:00am UTC on the Crypto.com Exchange.

Top stories in the Crypto Roundup today:

  • Bitcoin Breaks $12,400 for First Time Since July 2019
  • Grayscale’s Bitcoin Cash, Litecoin Trusts to Start Trading Publicly
  • OKEx Considers Delisting ETC After Suffering Losses in 51% Attack
  • Sponsored: Crypto.com Exchange is listing BAT at 50% OFF

At the time of writing, bitcoin (BTC) is trading at $12,276.27 (3.35%) with a daily Top Tier volume of $5.62 bn. As for ether (ETH), it is trading at $429.97 (0.21%) with a daily Top Tier volume of $2.33 bn. The MVIS CryptoCompare Digital Assets 10 Index is currently tracking at 4,925.96 (-0.05%).

 
24 hours chart of the price of BTC
 

Bitcoin Breaks $12,400 for First Time Since July 2019

 

The price of bitcoin broke through the $12,400 mark for the first time since July 2019, and is now up 72.3% year-to-date against the United States dollar. The cryptocurrency’s price rise has been accompanied by its hashrate, which hit a new all-time high on Sunday, August 16, of 129.075 EH/s.

Cryptocurrency critics have pointed out that while BTC is making gains, so are other assets. Famous gold bug Peter Schiff commented on Berkshire Hathaway’s purchase of some shares of Barrick Gold (NYSE:GOLD), the world’s largest gold miner, pointing out Warren Buffet’s investment in a precious metal and not a bitcoin miner.

Dave Portnoy, the founder and president of Barstool Sports, who bought $200,000 worth of Bitcoin last Wednesday (August 13) with the help of the Winklevoss twins, tweeted that Warren Buffett should be getting into Bitcoin and not gold, however.

Meanwhile, crypto trader “Crypto Rand” told his over 218K followers on Twitter that he could not see much resistance for Bitcoin until around the $14K level.

 
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Grayscale’s Bitcoin Cash, Litecoin Trusts to Start Trading Publicly

 

Cryptocurrency asset manager Grayscale Investments has announced its Bitcoin Cash and Litecoin Trusts are now DTC-eligible, meaning any investors with access to U.S. securities can invest in BCH and LTC without buying the cryptoassets directly.

Grayscale’s announcement details that shares of both trusts will be available for over-the-counter (OTC) trading under the symbols BCHG (Bitcoin Cash) and LTCN (Litecoin). Until now the trusts were not traded publicly, and were only available to institutional and accredited investors through private placement offerings.

Ahead of the announcement, Grayscale reported accredited investors already held 6,028,000 BCHG shares and 2,500,800 LTCN shares. Speaking to The Block Grayscale’s Managing Director Michael Sonneshein said:

"Grayscale’s products have built-in security and storage, audited financials, and provide tax reporting. They’re titled securities and eligible for investment through tax-advantaged accounts. So, it’s exciting to give investors the opportunity to access Bitcoin Cash and Litecoin directly from their brokerage account or invest from their retirement account.”

The trusts have offered investors private placements since March 2018.

 
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OKEx Considers Delisting ETC After Suffering Losses in 51% Attack

 

Popular cryptocurrency exchange OKEx has confirmed it lost approximately $5.6 million in the recent Ethereum Classic (ETC) 51% attacks, and is now considering delisting the cryptocurrency from its exchanges.

The exchange has the highest trading volume of ETC and as such acknowledge removing the cryptocurrency would not be an easy decision to make. Jay Hao, OKEx’s CEO, told CoinDesk:

“Given ETC’s popularity and standing, we are not rushing into delisting. However, they need to implement significant upgrades to the network to reduce the chances of another 51% attack happening.”

The Malta-based trading platform reimbursed its customers all of the lost ETC as part of its user-protection policy, but has suspended all ETC deposits and withdrawals because of the attacks. In a report, the exchange speculated the attackers chose it as its target because of its liquidity.

 
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Algorand (ALGO) is the Daily Mover

 

Algorand (ALGO) a pure proof-of-stake (PoS) public blockchain launched in 2018 dedicated to removing friction from financial exchanges and powering the DeFi wave, is this week’s daily mover features asset.

The ALGO FCAS has moved up 16.8% since the beginning of August, thanks to a 51.24% rise in user Activity. Developer Behavior and Market Maturity also went up 1.04% and 7.18% respectively. At the end of July the Props Project announced it was migrating from a Hyperledger private sidechain to Algorand’s PoS platform.

Props’s network of independent apps uses the Props Token as a reward that gives users a stake in the system and in-app benefits. The Props Project’s network handles over 700,000 transactions a day, at 5 transactions per second. Algorand’s blockchain was chosen as it can handle up to 1,000 transactions per second.

The Flipside Data Cooperative reveals a 618% increase in median ALGO daily transactions in the past 30 days, as well as a 137% spike in median daily volume - which currently stands at 17M USD. The number of median daily unique addresses has also climbed 24% in the past month.

Props’s network, it’s worth noting, includes Dating.com, a conglomerate of 15 international dating apps that have over 73 million registered users between them.

 
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Crypto.com Exchange is listing BAT at 50% OFF

Crypto.com Exchange is listing BAT on The Syndicate, where all Crypto.com Coin (CRO) stakers will be able to participate in a discounted sale event for 500,000 USD worth of BAT at 50% off. The event commenced on Tuesday, 18 August 6:00am UTC on the Crypto.com Exchange.

Allocation:

Each participant’s maximum amount of CRO that can be applied towards the listing event will depend on the amount of CRO staked on the Crypto.com Exchange. 

Subscription: 

  • Participants will be able to subscribe for BAT by contributing an amount of CRO tokens not exceeding their respective maximum allocation 
  • Staked CRO tokens may not be used to subscribe for BAT in the listing event
  • Crypto.com Exchange users will need to trade at least $5,000 USD worth of volume in the past 30 days on the Crypto.com Exchange in order to be eligible to subscribe*

Event Timeline:

  • 18 Aug 6:00am UTC: Sales Begins (BAT/CRO subscription price fixed)
  • 19 Aug 6:00am UTC: Sales Ends 
  • 20 Aug 6:00am UTC: Acceptance Period Begins (unused CRO will be refunded immediately if you reject the allocation)
  • 21 Aug 6:00am UTC: Acceptance Period Ends (CRO refunds will be distributed for forfeited participants)

* The past 30-day trading volume is calculated every day at 00:50:00 UTC; thus, the volume calculated as of 18 Aug 2020 00:50:00 UTC will be used to determine your eligibility. If your trading volume does not meet the requirement at the event start time, you can still continue to trade throughout the day. The trading volume will calculate again the next day at 19 Aug 2020 00:50:00 UTC, and if you meet the volume requirement you can still subscribe before the event ends at 19 Aug 2020 06:00:00 UTC.

Sign up for the Crypto.com Exchange, stake CRO and participate in the BAT sale now!

 
Read more here
 

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