The past week has been marked by a slight degree of volatility on the cryptocurrency market, given the fact that prices dropped abruptly between the 1st and 2nd of August. However, right after the drop, a slow but steady uptrend began, thus bringing prices back to their previous higher values.
Bloomberg explains some interesting mathematical correlations between Bitcoin and gold and says that Bitcoin price can cross $18,000 while Gold can also reach $3000 per ounce.
The Department of Economic Affairs (DEA) said that the inter-ministerial committee will examine the bill and move a cabinet note in due course.
The Medalla testnet will give an early assessment into how Ethereum 2.0 mainnet will behave with multiple clients.
An independent panel of financial industry leaders submitted a report stating the central banks can take inspiration from Ripple technologies while developing the own CBDCs.
The Bank of England has asked Accenture to build its new RTGS Payments network which also provides support for handling digital currency transactions in case the central bank launch its own CBDC.
Bitcoin had a price peak of $11,354 was reported this week, and its current price is of $11,160. Thus, an uptrend in the value of BTC and other cryptocurrencies was achieved this week, which also influenced the derivatives market as we will later see.
The Shelley mainnet bring new capabilities to the Cardano platform in terms of staking, DApps, smart contracts, and a new guided governance system.
Thailand is seeing a growing number of crypto businesses getting license from the regulators. The crypto businesses are categorized as crypto dealers, brokes, crypto exchanges, and ICO portals.
The People’s Bank of China have accelerated the testing of Digital Yuan as it collaborates with businesses across different industry sectors.