Latest Market News
Social media platform Twitter appears to be exploring a feature that would allow users to tip each other with Bitcoin via the Lightning Network. A report from MacRumors says that the beta version of Twitter for the iOS platform contains code referencing a Bitcoin tipping option, and a tutorial that will help users get started with Bitcoin and different custodial and non-custodial wallet options.
Offchain Labs, the team behind the Ethereum scaling solution Arbitrum One, has raised $120 million in a Series B funding round led by Lightspeed Venture Partners. The big funding round accompanies the public launch of the Arbitrum One mainnet, which happened yesterday. This means that anyone can now make transactions on the Layer 2 network without having to be whitelisted.
Swiss-regulated exchange, Monetum, is launching soon, offering its users a cost-effective crypto-to-crypto, crypto-to-fiat and fiat-to-crypto exchanges in a regulated and secure environment in order to boost overall crypto adoption.
El Salvador is days away from adopting Bitcoin as legal tender – the country’s Bitcoin law will officially come into effect on September 7. Now, El Salvador’s Legislative Assebly has approved a plan to establish a $150 million fund that will be used for conversions between Bitcoin and the US dollar (which is the country’s only legal tender before the Bitcoin law comes into effect).
The total market cap for exchange tokens is now approaching the $125 billion level with a strong 4% overall price hike in the market cap over the last week. Over the past week, Binance Coin remained stagnant at $480 while Uniswap saw a 15% price hike. OKB saw an 8.3% price increase and FTX Token surged by a strong 18%.
Syndicate, a project creating infrastructure for DAOs (decentralized autonomous organizations), has raised $20 million in a Series A round that was lead by venture capital firm Andreessen Horowitz, but also included over 150 additional participants.
With this much activity in the NFT markets, investors are now looking to participate in a more structured manner. Prominent crypto hedge fund Three Arrows Capital has launched a new NFT fund called Starry Night Capital, which intends to raise $100 million to buy NFTs. To launch the project, 3 Arrows Capital’s Su Zhu and Kyle Davies have partnered with NFT collector “Vincent Van Dough”.
With Bitcoin battling to cross the $50,000 threshold, many altcoins continue their recovery back to their May highs - some have even managed to already set new ATH prices. In this article, we'll be taking a look at this week's top coins to watch, KCS, ALICE, and ZIL, from a technical analysis perspective.
Jack Dorsey has revealed that Square's TBD business will be building an “open platform to create a decentralized exchange for Bitcoin”.
The bull run for Bitcoin seems to have slowed down a bit since hitting the resistance at $50,000 last week. The cryptocurrency attempted to break $50,000 last Monday but failed to hold above the level and ended up heading lower during the week.
