Daily update: August 25th, 2021

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Here you will find our daily update, which will provide you with all the main information and events on the crypto markets for the previous day.

Crypto market update

The bearish price development in the crypto market continued for a second consecutive day, with Bitcoin dropping below $48,000. Most altcoins have suffered even more with massive price dumps, and the crypto market cap has lost about $100 billion in a day.

Bitcoin (BTC) Bitcoin is now trading at 48,195 USD (all data from Coingecko.com)

Ethereum (ETH) is now at 3,190 USD

PlatonCoin (PLTC) is now at 0,533 USD

Total marketcap is currently at 2.157 trillion USD

Tip: Coin or token? Do you know the difference?

Daily news update

Bitcoin hash rate tripled: The hashrate for the Bitcoin network has made a remarkable recovery since it crashed following China’s crypto mining clampdown earlier this year. The Bitcoin hashrate has now topped 150 Exahashes, or one quintillion hashes, per second according to data from analytics provider CryptoQuant. On Aug. 24, the metrics provider reported a hashrate of 152 EH/s which has tripled since it bottomed out this year on June 28 at 52 EH/s.

Cardano will comply with AML: The Cardano Foundation has now selected Coinfirm, a leading provider of regulatory technology solutions, to deploy AML/CFT analytics for the Cardano blockchain and all associated tokens. Furthermore, ADA reached the ATH on Google Trends queries, even higher than BTC.

Facebook has approval for Novi: Through a recent blog post, Marcus confirmed the approval for Novi in almost every state in the United States. Also, he revealed that it will not be launched in places where it has yet to get approval. Facebook is also reportedly thinking about including NFT features in its digital wallet, according to David Marcus, an executive who spoke on Bloomberg TV. Facebook’s Novi Wallet is a rebranding of the Calibra digital wallet.

Kraken wants EU licence: Kraken wants to expand beyond crypto and beyond the US. The team is working on getting an European license and probably launching an NFT marketplace.

Coinbase facing complaints: According to a recent study by CNBC, Coinbase users in the United States are sharing complaints about the exchange’s customer service practices after finding their accounts drained. CNBC queried thousands of customers of the popular cryptocurrency exchange and discovered that Coinbase’s customer service is mostly handled via email and most users stated it was incredibly difficult to reach a representative with issues.

Musk and Tesla into NFT: Autographia, an authentic memorabilia company, announced the auction of an authentic Musk-signed Tesla model with a matching NFT. The physical item has a signature from the Tesla creator and authentication from Beckett while the NFT version is an exact digital replication.

U.S. Infrastructure and crypto bill: The controversial $1 trillion infrastructure bill will see a vote in the U.S. House of Representatives without any amendments to the crypto tax provisions by Sept. 27.

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