The Latest News in Cryptocurrency Developments: August 18th 2020
Our weekly news roundup is here! Where we discuss the latest happenings in the crypto and blockchain space. A highly successful week for the crypto market as Satoshi Nakamoto’s vision comes into reality, investors turn to bitcoin as a safe haven amongst COVID-19 chaos. DeFi market cap makes gains, LINK overtakes BCH market cap, and corporations start to use crypto to reserve capital. Let’s jump into a closer look in this week in crypto.
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You Can Almost Smell Satoshi’s Pride
The cryptocurrency market booms in the last few months, despite current economic uncertainty caused by Covid-19. Bitcoin breaks through the 12k barrier, hitting a record high for over a year. It’s in these times that Satoshi Nakamoto’s vision to revolutionize an economic crisis and put the power back into the individuals’ hands comes into play. Read more.
Another Week, Another Billion
Defi locks a further billion-dollars’ worth of crypto in under a week. Bringing the total amount of crypto locked in smart contacts to 6billion dollars. Outstanding growth for decentralized finance as the entire DeFi market cap surpasses 15billion dollar mark. Read more.
Chainlink (LINK) officially overtook bitcoin cash (BCH) as the fifth largest crypto asset by market capitalization. LINK shot up by 32% on a 24-hour basis: Read more.
Bitcoin Used for Capital Reserve?!
So it begins! MicroStrategy, the first of what’s assumed of many businesses to use bitcoin as a capital reserve, they bought up to 21,454 bitcoins and quoted “Bitcoin … is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash.” Who will be next in the world of business to buy bitcoin to store value? Read more.
What did you think of this week’s developments? Which story sparked your interest the most? See you next time for our weekly low down on crypto and blockchain growth. We look forward to discussing the week ahead.