DailyCoin
Published Aug 03, 2021 08:36AM ET
Updated Aug 03, 2021 09:00AM ET
Crypto Flipsider News – August 3rd – Miami Crypto, Digital Asset Investment, Binance, CoinJr, Independent Reserve, NFT Boom
Miami Starts Its Crypto Experiment, Launching the City’s Own Cryptocurrency
The City of Miami is launching MiamiCoin ($MIA) this week. MiamiCoin allows people to invest in Miami by buying or mining the coin. Funds will be converted into US dollars and will be used for the city’s infrastructure or event projects.
MiamiCoin is the first ever CityCoin. CityCoin will provide municipalities with additional fundraising opportunities. Investors will be allowed to stack MiamiCoins and earn rewards through Stacks protocol.
Crypto-friendly Miami wants to become the “Bitcoin capital of the world.”
Flipsider:
Digital Asset Investment Products See Outflows for the 4th Week in a Row
Digital asset investment products have witnessed net outflows for the 4th week in a row, CoinShares reports.
The total outflow amount is up to $19.5 million this week. The total outflow since mid-May has now reached $295 million, which amounts to 1% of the assets under management (AUM).
The outflow of Bitcoin-focused investment products reached $20 million last week, and $24 million the week before. Ethereum has also witnessed lower outflows, at only $9.5 million in the past two weeks.
In the meantime, multi-asset investment products have displayed a different trend, having only recorded inflows this year and attracting $7.3 million over the past week.
Flipsider:
Binance: Suspending ETH and ERC-20 Tokens Deposits, Banned by HSBC
Flipsider:
Australian Exchanges: CoinJar and Independent Reserve
Flipsider:
The NFT Booms Continues: $300 Million in Weekly Trades and CryptoPunks Rent
Flipsider:
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Written By: DailyCoin
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