POKKET: Crypto Market Update (Aug 1)

crypto news, bitcoin price

Bitcoin is +1% to $41.8k, ETH is +4.8% to $2525. Movers are YFII +21%, FIS +20%, DEGO +18%, rest are within range.

China reiterates its stance and vows to continue cracking down on crypto and will ‘maintain high pressure on virtual currency trading hype’, in an effort to gear up for its own ICO, the digital yuan.

Meanwhile, cryptwit is increasingly voicing concerns over the $550B US infrastructure bill and the planned $28B tax bill to the crypto industry to help pay for it — the catch-all term ‘broker’ is basically giving the IRS a blank check, as it could be interpreted as anyone having touched crypto.

The Ethereum yield farm token FARM is up 200% over the past week after having listed on Coinbase, solidifying the meme-farming token’s place in the ecosystem.

As previously reported here, Bitcoin mining adjustment took place, increasing difficulty by 6%, a first positive move after four consecutive downward adjustments after China went HAM.

Lastly, Kentucky is now the fifth state to allege BlockFi interest accounts are securities and has ordered the halt of opening new accounts, joining NJ, Alabama, Vermont and Texas.

Check out today’s interest rates at POKKET and earn interest on your crypto with our crypto savings account.

Like POKKET’s market commentary?
Follow us on Twitter to get the latest news, or email us your thoughts.