Top Stories This Week
In the unpredictable world of cryptocurrencies, we’ve witnessed some notable events that have sent shockwaves through the market. Buckle up, folks, because here are the highlights that you definitely won’t want to miss!
Bitcoin Premiums in Hong Kong and Argentina
Even as Bitcoin (BTC) sees a price dip back into four figures, many consumers in Hong Kong and Argentina are shelling out extra for their BTC, thanks to local economic turmoil. Investors in Hong Kong recently forked over an additional $300 for their Bitcoin, fueled by political unrest. Meanwhile, in Argentina—where the peso has experienced a dramatic collapse—buyers were reportedly paying an extra $420 on local exchanges. Talk about paying for peace of mind!
Poloniex Cleans House
The popular crypto exchange Poloniex has announced the removal of 23 trading pairs due to low trading volume. Among the affected pairs like LTC/XMR and DASH/XMR, an important message remains: you can still trade these assets independently. It’s like putting your unused gym equipment in the attic; out of sight, but not quite gone forever.
Binance Hints at U.S. Comeback
Binance CEO Changpeng Zhao, affectionately known as CZ, has a prediction that could have some traders doing cartwheels: the exchange plans to resume their U.S. operations within two months! CZ mentioned that efforts are in full swing to comply with regulatory standards, reframing the narrative from uncertainty to optimism. Here’s hoping they mean it and don’t just take us for a joyride!
Barclays and Coinbase Break Up
Just when you thought it was safe to dip your toes back into the crypto pool, Barclays drops a bombshell by reportedly severing ties with Coinbase. The consequences for U.K. users might be severe, slowing down GBP transactions to a crawl. However, the bank insists they don’t block payments to legitimate businesses—sounds like classic corporate double-speak to me!
Bakkt Gets a Launch Date
The much-anticipated Bakkt platform has finally set a launch date for its futures and custody platform—marked for September 23rd. After a slew of delays, we’re hoping this will be a smooth takeoff rather than a bumpy ride!
Winners and Losers
As the crypto rollercoaster ride continues, Bitcoin is sitting at $10,134.51, Ether at $184.93, and XRP at $0.27. The market cap totals approximately $263 billion. Among the altcoin winners are BitBall, CyberFM, and Tellurion, who are probably feeling pretty lucky. On the flip side, Boltt Coin, Skeincoin, and Blockchain.com are left picking up the pieces.
Quotable Moments
“Bitcoin was one of the few assets that we watched that actually predicted that uncertainty ahead of time.” – Nicholas Colas
Whether you’re laughing, crying, or collecting your thoughts, the crypto world is never short on memorable quotes. This week, notable thoughts from experts provide insight into both the market’s possibilities and its pitfalls.
Prediction of the Week
Goldman Sachs has recently turned their sights on Bitcoin, predicting a short-term target of $13,971 based on market psychology. Could it be that they’ve finally joined the crypto club?
The Week’s FUD
A rumor suggests that an alleged $3 billion Ponzi scheme could be at the root of the recent Bitcoin downturn, as it appears to be dumping Bitcoin at a rapid pace. Who knew crypto could be as dramatic as reality television?
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