DailyCoin
Published Aug 23, 2021 11:07AM ET
Updated Aug 23, 2021 11:30AM ET
Crypto Flipsider News – August 23rd – Bitcoin Back on Track, Ethereum, Paypal Crypto Integration in the UK, USDC, Rapper Tyga Launches OnlyFans Crypto-Competitor
Bitcoin Back on Track. Bitcoiners Are Getting Funky. What About Other Coins?
The maxis have been waiting for this number for three months: Bitcoin is back to $50K. Of course, most of the crypto community expected this to happen sooner or later, whether bulls or bears. Having said that, the event is mainly a celebration for maxis and newbies. In case you’re new here, here’s a quick check on what’s happening with other coins:
Flipsider:
Ethereum Doesn’t Stay on Exchanges for Long
The percentage of ETH balances on exchanges has dropped to 12.8%, which is the lowest the number has been for three years. This means that most ETH is going straight to wallets. A casual link to draw between these two facts usually is that it may lead to a price rise.
Since the London hard fork, small amounts of ETH are being burned every day. Data shows that 73K ETH have already been burnt since the update, 9K of which were liquidated on the OpenSea marketplace.
Flipsider:
Paypal Integrates the Ability (OTC:ABILF) to Buy, Hold, and Sell Crypto in the UK.
Flipsider:
USDC Only Backed by U.S. Dollar and Short-Term U.S. Treasuries From September
USDC reserves will be held “entirely in cash and short duration US Treasuries” from September onwards, confirmed the USDC issuer Centre.
USDC is the world’s largest regulated stablecoin to currently be operating under U.S. laws. $27 billion of USDCs are backed by Circle and Coinbase (NASDAQ:COIN), who are the founders of Centre.
In May, Circle expanded its investment portfolio, adding certificates of deposit, commercial papers, and corporate and municipal bonds. Disclosed changes after two months.
Coinbase president Emilie Choi assured that USDC investment will revert back “to a more conservative investment profile by the end of September.”
Earlier in August, Circle revealed its aim to become the first full-reserve national cryptocurrency bank.
Flipsider:
Adult Content Continues: Rapper Tyga Launches OnlyFans Crypto-Competitor
Flipsider:
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