August 3, 2021

Cryptocurrency Digest Aug 2, 2021: News, Analysis & Opinions

cryptocurrency digest aug 2 2021

💰 Jihan Wu's Matrixport raised $100 million in investment at a valuation of $1 billion.

⛏ Marathon will buy $121 million worth of mining equipment from Bitmain.

📉 Monthly trading volume on popular crypto exchanges fell 32% to $651.2 billion.

✨ MicroStrategy CEO Michael Saylor said that bitcoin will be the basis of technological innovation at Apple, Amazon and Facebook.

💰 Square made a $55 million profit from its Cash App bitcoin service.

💥 Square intends to buy Australian payments company Afterpay for $29 billion.

👍 Bank of America praised El Salvador's adoption of bitcoin.

〽️ Moody's downgraded El Salvador to Caa1, also because of the bitcoin law.

🚀 Stock-to-Flow (S2F) model author PlanB reported that the BTC price has rebounded from the lows and the forecast of $135,000 by year-end is still valid.

💡 Bitcoin miners generated $972 million in revenue in July, up 13.6% from June.

☝️ Ether miners' revenue was down 2.4% to $1.08 billion.

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Jack Evans

About the author

I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments. 

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