[Odpolední zprávy] • The market is showing signs of recovery and whales are buying Bitcoin • and other articles

Welcome to today’s overview of crypto messages:

MARKETS

Last week has been relatively volatile for Bitcoin. Last Monday, for the first time in more than three months, its price climbed above $ 50,000. As the bulls prepared to rise further and regain more levels, the situation changed and the BTC began to lose value. This resulted in a significant drop to around $ 46,300 on Thursday and Friday.

However, after falling $ 4,000, Bitcoin headed north again, approaching the $ 50,000 mark on Sunday. In vain, however, because he failed to get through in two cases. The subsequent rejection of the second attempt drove him south to the current level of around $ 48,000.

Most altcoins are in the red numbers and on a 24-hour scale. Ethereum failed to stay above $ 3,200 and fell below that level after a 1% decline. [1]

Technical analysis: BTC / USD – weekly candles indicate hesitation, volumes fell again

Kryptoměny

The Russian received a three-year sentence for stealing a friend’s mining rig

Authorities in Russia’s Zavolzhsky district found a 34-year-old local man guilty of stealing a cryptocurrency plant worth more than 1.6 million rubles (nearly $ 22,000).

According to a report shared by the Yaroslavl Prosecutor’s Office, the prosecutor’s office confirmed that a Yaroslavl resident had been caught in February 2021 breaking into his friend’s garage and stealing his mining equipment, which was used to earn cryptocurrencies.

Authorities found the Russian man guilty of a crime, citing large-scale property theft and illegal intrusion, and the culprit was sentenced to three years in prison. [2a]

Whales buy Bitcoin as the market shows signs of recovery

Bitcoin whales devour BTC and fill their wallets as the market gives some signs of a possible rebound from its previous price drop.

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According to a report in the Independent, new data shows that BTC whales are supplying, leading analysts to speculate that another major price rally is “approaching”. Whales (those holding wallets with at least $ 50 million) increased their stakes in bitcoins during June, July and the first half of August.

The report says whales last showed similar activity in the run-up to Bitcoin’s last historic high of $ 64,000 in mid-April, leading many to suspect that further price increases are on the horizon. [2b]

Banks, stock exchanges, companies

Jack Dorsey of Square will build a decentralized BTC exchange

Jack Dorsey, chief executive of technology giants Square and Twitter, announced on Friday that Square’s new decentralized financial division, TBD, plans to build a decentralized Bitcoin exchange.

“We have set the direction for TBD: help us build an open platform to create a decentralized exchange for Bitcoin”

stated on Twitter. TBD project manager Mike Brock also informed about the project on Twitter.

Although the project was originally announced in July, so far very little has been known about it beyond the intention to involve BTC and DeFi. This is the first indication of the direction the project will take beyond this framework. In June, the leader of the social platform also proposed the integration of Bitcoin Lightning Network payments. [3a]

Binance Australia accepts former DigitalX CEO as new CEO

Binance Australia has announced the appointment of Leigh Travers, former CEO of local blockchain technologies and payment company DigitalX, as the company’s new CEO.

Travers has worked for DigitalX for seven years and previously served on the board of directors of a leading local blockchain industry, Blockchain Australia. In June 2014, DigitalX became the first publicly listed blockchain company in the world after completing the takeover of Macro Energy Ltd. listed on the Australian Stock Exchange.

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In a August 28 announcement by Binance, Travers emphasizes that its priority will be to build Binance Australia’s relations with regulators and develop the company’s brand. [3b]

CBDC, Regulation

Three state-owned banks in China publish data on the use of e-CNY

Three major state-owned banks, along with half-yearly reports, have released data on the use of e-CNY, with tens of billions of yuan circulating in their systems.

China Construction Bank said it helped set up 7.23 million e-CNY personal wallets and nearly 1.2 million corporate wallets at the end of June, which, according to its interim report, had transactions worth a total of 18.9 billion digital yuan (2.9 billion USD).

Bank of Communications, another state-owned bank, has set up 1.16 million personal digital wallets in yuan and 130,000 corporate wallets, bringing the total volume of e-CNY transactions to 2.5 billion yuan ($ 390 million), on Friday after the semi-annual results were announced Qian Bin Bank, Executive Vice President of the Bank. [4a]

The Central Bank of Singapore has announced 15 finalists for the Global CBDC Challenge

The Singapore Monetary Authority (LAG) today announced 15 finalists for the Global CBDC Challenge, which aims to develop retail solutions for the central bank’s digital currency (CBDC) to improve payment services and promote financial inclusion.

According to the LAG, more than 300 projects from more than 50 countries entered the Global CBDC Challenge, of which more than half were from Asia. The finalists, which include financial institutions, fintech and technology solution providers, will now go through an “acceleration phase” in which they will develop their solutions and present them at the FinTech Festival in Singapore in November.

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The finalists are: Bitt, a Barbadian blockchain payment company that has launched the DCash digital currency in collaboration with the East African Central Bank; Citibank in Singapore; cLabs; Consensus; Extolabs; Giesecke + Devrient advance52; HSBC Bank; IBM; IDEMIA; Criteo; IOG Singapore; Soramitsu; Standard Chartered Bank; and the Singapore payment start-up Xfers. [4b]

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