DailyCoin
Published Aug 05, 2021 10:15AM ET
Updated Aug 05, 2021 10:30AM ET
Crypto Flipsider News – August 5th – DeFi Boom, Ripple’s CEO Given Access to records on Binance, First EU-Regulated Bitcoin ETF, Chainlink, Axie Infinity
The DeFi Space Boomed in Q2
The DeFi space broke it’s record in the second quarter of 2021, reports blockchain software company Consensys. The number of unique Ethereum addresses in DeFi increased by 65% compared to in Q1, and now stands at 161 million in total. Trading volumes on DEXes exploded in May with $173 billion ATH, and this totaled $343 billion in Q2. Institutional money discovered DeFi. DeFi itself provides access to institutional finance.
Flipsider:
Ripple’s CEO Has Been Given Access to XRP’s Transaction Records on Binance
The court granted Brad Garlinghouse’s request to access all XRP transaction records on Binance. The records may be used to prove that XRP sales were made outside of the U.S, which would serve as new evidence in Ripples’ ongoing case vs. SEC.
The SEC alleges that Ripple sold XRPs as unregistered securities, which violates the Securities Act, profiting by $1.3 billion.
Flipsider:
The First EU-Regulated Bitcoin ETF Is Launching in France
French investment firm Melanion Capital is launching an EU-regulated Bitcoin ETF. The fund will track an index of 30 crypto-related companies, with almost 90% of them correlating with BTC’s price.
The fund will be the first of its kind to be regulated by the European Union. This means it will comply with EU standards (Ucits), which are the international gold standard of fund regulation.
Flipsider:
Chainlink Updates: Memenopoly and AccuWeather
Flipsider:
Here Comes the Money: Axie Infinity is Overruning Bitcoin and Ethereum in Terms of Revenue
While the other cryptos are napping through the summer lull, gaming tokens are peaking amid waves of hype. The blockchain gaming industry is undeniably gaining momentum.
Axie Infinity, an NFT game which uses Ethereum-based AXS tokens, generated higher revenue throughout July than either Bitcoin or Ethereum, reaching more than $240 million. Of course, its market capitalization is much smaller than the crypto titans, with Axie Infinity still ranked at 44th, but the sentiments of its community are palpable.
Flipsider:
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