Crypto Flipsider News – Aug 12 – $ 2T Market Cap, Neuberger Berman, Logan Paul, Stellar Blockchain, Cardano and XRP Price By DailyCoin
Crypto Flipsider News – Aug 12 – $ 2T Market Cap, Neuberger Berman, Logan Paul, Stellar Blockchain, Cardano and XRP Price
- Market Sentiment: Back to $ 2T,, XRP,
- China will apply stricter regulations across multiple sectors over the next four years
- Investment managers seek exposure to crypto: Neuberger Berman, Valkyrie Investments
- Stellar Blockchain was used to set up a remittance corridor between the European Union and Thailand
- Another creepy introduction to crypto: Logan Paul and Dink Doink Scam Coin
Market Sentiment: Back to $ 2T, Cardano, Ripple XRP, Bitcoin
- The total crypto market cap is back to $ 2 trillion. Of course, it’s nowhere near the May 12 record, which was $ 2.555 trillion. In addition, it quickly dropped to $ 1.9 million.
- Cardano rose to its two-month high in anticipation of the smart contract’s announcement. They are due to be released tomorrow, claimed Charles Hoskinson.
- Bitcoin encountered resistance in the $ 46,800 to $ 47,800 range.
- Ripple’s XRP price hit $ 1 again after GME Remittance joined RippleNet. GME is one of the largest non-bank remittance providers in South Korea.
- The market is waking up from the summer lull? It could either be early fall or a fake warning. We will see!
China will apply stricter regulations across multiple sectors over the next four years
China released a new 5-year plan this week. The document shows that the government has grown to more stringent regulation in broader sectors, including national security, technology, education, and monopolies.
More pressure is being put on the digital economy, internet finance, artificial intelligence, big data and cloud computing.
The move comes right after the crackdown on the cryptocurrency sector. There are concerns that this is just the beginning: the raids on the world’s second largest economy will continue and intensify.
- The government’s thirst for power grows. Meanwhile, Chinese company stocks continue to fall. They saw the sharpest decline since the 2008 financial crisis due to multiple crackdowns in the technology and education sectors.
Investment managers seek exposure to crypto: Neuberger Berman, Valkyrie Investments
- Investment firm Neuberger Berman has filed with the SEC to add the option to invest in Bitcoin and futures. The company would like to add crypto exposure to its commodity-oriented fund. Neuberger Berman currently manages over $ 400 billion in assets.
- Alternative asset management firm Valkyrie Investments has filed a Bitcoin futures ETF with the SEC.
- Earlier this month, SEC chairman Gary Gensler pointed out the possibility of approving crypto ETFs that exist under the Investment Company Act of 1940. The law regulates funds and offers specific investor protection.
- Since Gensler’s speech, three other companies have entered the cast of crypto ETFs (ProShares, Invesco, VanEck).
- SkyBridge, Fidelity and VanEck have filed for Bitcoin and Ethreum ETFs, but the SEC has so far been quiet and has not given the green light.
Stellar Blockchain was used to set up a remittance corridor between the European Union and Thailand
As competition in cross-border payment transactions intensifies, companies are polishing blockchains in various areas. Velo Labs, together with Tempo Payments and Bitazza, is launching a $ 17 billion corridor on the Stellar blockchain between Southeast Asia and all European countries.
Unfortunately, a month ago scammers used the company’s name and website to create a fake airdrop which caused some confusion.
- Velo tokens on the Stellar blockchain are a brand new thing. Its market capitalization so far is $ 15,869,563, which puts the coin in the 2500th position among other cryptos.
Another creepy introduction to crypto: Logan Paul and Dink Doink
Logan Paul never avoids getting into trouble. After the big scandal with YouTube about his film material from the Japanese forest and his boxing career, the influencer decided on crypto. His choice of favorite coin, however, was made with a fairly acquired taste: Dink Doink, which has already been dubbed a scam coin by the crypto community.
In addition, Logan’s tweet expressing his love for crypto was already tagged with the tag “Tweet is from a blocked account” and is no longer available.
- Crypto-cringy train is widespread! This is an even bigger gig than Kim Kardashian promoting Ethereum-Max. Let’s check out the hatred of the crypto community that lands on his head after a while. It is possible that Jack Dorsey personally ordered the removal of the tweet, which is good given Logan’s young audience.
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