POKKET: Crypto Market Update (Aug 24)

crypto news, bitcoin price

Bitcoin is a touch higher and was over $50k at one point overnight but has settled at $49.6k for now, ETH is up +3.8% to $3333. Movers are IOST +18%, ENJ +17%, NKN YFII +15%, BNB +13%, LIT +11%, OMG +10%, CHZ DOCK AUDIO +9%, LRC -11%.

Tether has started its printing press again after a 2mth hiatus by minting $2B in the past few weeks, helping to explain the recent surge in BTC price despite poor transaction volumes in comparison to prior bull moves.

Visa has a “How do you do, fellow kids?” moment as it ape’s into CryptoPunks and buys one for $165k, citing it has entered a new era of commerce. This is a similar move to Arizona Iced Tea’s Bored Ape Comic NFT purchase last Friday for an undisclosed amount.

OpenSea is the first NFT marketplace to surpass $1B in monthly trading volume. To add to the FOMO, a Fidenza NFT from the Art Blocks collection of generative Ethereum artwork sold for $3.3M, which was originally minted on June 11 for the amount of $1400.

FTX continues its infiltration of sponsoring normie activities, this time buying the naming rights of Cal Memorial Stadium at UC Berkeley, which is to be renamed FTX Field.

Binance Singapore has hired a former SGX chief regulatory officer as CEO for the exchange.

Substack, the newsletter platform, announced it will start accepting Bitcoin payments via the Lightning Network.

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