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Crypto market highlights – Aug 24

Posted on
August 24, 2024
by
moneysmart-girl

Crypto Market Highlights
  • Tether has decided not to launch its blockchain due to market saturation and strategic concerns.
  • Fetch.ai is opening a hub in San Francisco to advance artificial intelligence technology.
  • According to Arkham Intelligence, El Salvador has continued accumulating Bitcoin, purchasing one daily since March 16.
  • Upbit has temporarily suspended Near Protocol deposit and withdrawal services due to a network upgrade.
  • Australia’s federal court ruled in favor of ASIC against Bit Trade, the operator of Kraken’s crypto exchange in Australia.

 

Industry News
  • Kamala Harris to back measures to help grow the digital assets industry [Read more]
  • Mercado Libre launches USD-pegged Meli Dollar stablecoin in Brazil [Read more]
  • Polymarket odds of RFK Jr. dropping out of US presidential race soars [Read more]
  • Web3 oracle provider Stork Network raises $4 million in seed funding [Read more]
  • Coinbase will enable 1:1 conversions between the euro and MiCA-compliant stablecoin EURC [Read more]
  • Spot bitcoin ETFs see fifth day of consecutive positive inflows [Read more]
  • Tether plans to launch a UAE Dirham-pegged stablecoin [Read more]
  • Mt. Gox sends $75 million in Bitcoin to crypto exchange Bitstamp [Read more]

🚀 Projects
  • Fanton, a fantasy football platform on Telegram, raises $1M in seed funding [Read more]
  • Crypto infrastructure startup Conduit is launching a marketplace platform aimed at helping rollup teams increase scalability [Read more]
  • Bitcoin staking platform SatLayer raises $8 million in pre-seed funding [Read more]
  • Tron-based meme coin generator SunPump flips Pump.Fun in daily revenue [Read more]
  • Tron’s Sundog token pumps 25% amid SunPump hype [Read more]
  • Base DeFi protocol BSX raises $6.2 million ahead of token launch [Read more]
  • ZKsync’s daily revenue plummeted to a mere $6,800 last week [Read more]
  • A16z leads $80 million Series B for Story Protocol, a Layer-1 IP blockchain [Read more]

🎨 NFT/Metaverse
  • NFT marketplace Magic Eden will adopt the forthcoming utility token ME [Read more]
  • Law enforcement will use NFTs to reach out to victims impacted by fraudulent activity from the founder of crypto project CluCoin[Read more]

 

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