XRP moves into the spotlight as Bitcoin stumbles at $ 47,000

Crypto at a glance

Bitcoin’s rise continued yesterday, despite the fact that the largest cryptocurrency by market cap pulled back a little this morning from highs of nearly $ 47,000. It is down 2% in the last 24 hours at the time of writing, and has changed hands for around $ 45,200.

However, the markets generally remain in a mood of optimism, with the Fear & Greed Index again showing that the market is greedy. It appears that the U.S. Senate’s passage of a $ 1 trillion infrastructure bill this week, with measures that commentators said could be detrimental to the cryptocurrency industry, didn’t affect bullish sentiment.

Elsewhere, overall, cryptocurrency markets have swelled back to nearly $ 2 trillion in market cap for the first time since May. Ethereum has also pulled back 2% following its recent strong performance following its London upgrade last week and is currently trading for around $ 3,100. The rest of the market looks stronger, however, with the majority of the other major cryptocurrencies in the green today. Cardano and Dogecoin continue their strong recent performance and are up another 3% since yesterday morning. However, XRP is stellar today, rising 10% to just under a dollar in the past 24 hours.

The big story yesterday was the Poly Network after the biggest attack in decentralized finance (DeFi) history took another dramatic turn. The hacker began returning the funds as promised yesterday, returning at least $ 342 million in cash to the DeFi cross-chain platform Poly Network.

In a question-and-answer session in which he explained his motives, the attacker said: “When I discovered the mistake, I had mixed feelings. Wonder what to do when you’re this lucky. Politely ask the project team so they can fix the problem? Anyone could be the traitor who was given a billion! I can’t trust anyone! The only solution I can think of is to store it in a trusted account while remaining anonymous and secure. I’d rather stay in the dark and save the world. ”

The Crypto AM London Blockchain & DeFi Summit will take place on September 29th and 30th …

day one takes place in two pavilions that host the Crypto AM City of London Roundtables so delegates can meet and network and learn from great discussions and lectures.

Day two the summit day (streaming and live audience) will be held at the Leonardo Royal Hotel, St.

For lecture opportunities, partnership packages or participation (tickets are strictly limited and on request) please send an email to:

events@cityam.com

with the subject line CRYPTOAM SUMMIT

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All feedback on Crypto AM Daily in collaboration with Luno is welcome by email at James.Bowater@cityam.com 🙏🏻

Yesterday Crypto AM Daily in collaboration with Luno

In the markets

The bitcoin economy

* For definitions and insights, see https://bytetree.com/insights/

Total crypto market capitalization

The total capitalization of the entire cryptocurrency market at the time of writing is currently $1.879.247.217.140.

What Bitcoin did yesterday

We got yesterday, August 11th, 2021, for the price of. closed $ 45,593.64, down from $ 46,365.40 the previous day.

The daily high was yesterday at $ 46,735.63 and the daily low was $ 45,351.71.

Around this time last year, Bitcoin price closed the day at $ 11,584.93. In 2019, it closed at $ 11,382.62

Bitcoin market capitalization

Bitcoin’s market capitalization at the time of writing is $ 846.45 billion. To put it in context, the market cap of gold is $ 11.151 trillion and Facebook is $ 1.014 trillion.

Bitcoin volume

The total spot trading volume reported by all exchanges in the last 24 hours was $ 35,563,826,905, compared to the previous day $ 33,880,177,728. High volumes may indicate that a significant price move has stronger support and is more likely to be sustained.

volatility

Bitcoin’s price volatility over the past 30 days is 54.36%.

Fear and greed index

The market sentiment is today 70.

Bitcoin’s market dominance

Bitcoin’s market dominance is today 45.74, The lowest dominance ever recorded was 37.09 on January 8, 2018.

Relative Strength Index (RSI)

The daily RSI is currently 68.61. Values ​​of 70 or above indicate that an asset is overbought and may be prepared for a trend reversal or price correction – an RSI of 30 or below indicates an oversold or undervalued condition.

Convince your Nan: Soundbite of the day

“I’m not Gilbert, John or Russ … I think I may be the first point guard in DC to lobby senators for Bitcoin.”

  • Spencer Dinwiddie, Washington Wizards launch point guard

What they said yesterday …

It was a pleasure to have you

My rookie year for the #Bitcoin Cyber ​​Hornets is officially over. I want to thank my teammates for the support and coaching they have given me along the way. 🚀 https://t.co/YO3cRXTfog

– Michael Saylor⚡️ (@michael_saylor) August 11, 2021

Interesting discussion

It’s gratifying to see the Space Force MIT guy react to his DoD counterparts. Here is the answer for those who don’t have a LinkedIn account: pic.twitter.com/WuNOdkVVjG

– WhiskySauer (@SauerWhiskey) August 11, 2021

In the Senate

TED CRUZ COMMON SENSE SUPPORT

The U.S. government isn’t often keen on democracy or research, especially on #Bitcoin

So it’s amazing to see a senator actually use common sense and urge the US government to “understand the blockchain before regulating it” pic.twitter.com/YftbEHAIRY

– That martini guy ₿ (@MartiniGuyYT) August 10, 2021

Recommendations of the Crypto AM editor

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The proof of stake gives us a real opportunity for change

Fabric Ventures announces $ 130 million fund to invest in digital assets and decentralization

The US is getting closer to the cryptocurrency tax after the last minute bill

What has to happen to cryptocurrencies so that regulators can more easily accept this industry?

London’s crypto executives book is flying off the shelves

Crypto AM: Longer reads

City AM Markets: What is Aave’s Decentralized Financing (DeFi)

Crypto AM: Conversation with James Bowater

Crypto AM: Market View in collaboration with Ziglu

Crypto AM: Technically speaking, in collaboration with Zumo

Crypto AM: A Trader’s View with TMG

Crypto AM: Tomorrow’s Money with Gavin S Brown

Crypto AM: Mixing in the Metaverse with Dr. Chris Kacher

Crypto AM: Visions of the Future, Past and Present with Alex Lightman

Crypto AM Contributor: Jilian Godsil

Crypto AM: speak legally

Krypto AM: Spotlight

Crypto AM: Founder Series

Crypto AM: Industry voices

Crypto AM: Tiptoe through the Crypto with Monty Munford

Crypto AM: Definitely DeFi

Crypto AM parliamentary special offer

Part one of two 21.-22. April 2021

Part 2 of 2 21.-22. April 2021

Five-part series 8.-12. March 2021

day one

Day two

Day three

Day four

Day five

Crypto AM events

For those of you who missed the Crypto AM DeFi & Digital Inclusion online summit – you can now watch the event in two parts on YouTube

part One

Second part

Warning notices

It is certainly tempting to get carried away with the excitement, but please heed this warning: do your own research, invest only what you can afford, and make good decisions. Hopefully the indicators included in this article will help with that. However, remember The content of this article is for informational purposes only and does not constitute investment advice or any form of recommendation or invitation. City AM, Crypto AM and Luno always advise you to seek your own independent financial advice before investing or trading in cryptocurrency.

All information is correct as of 8:00 AM BST

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