“It’s cool to hate Ethereum right now. I bet this ends up looking silly,” Bitwise CIO Matt Hougan remarked as BTC's dominance over ETH rises, with the ETH/BTC ratio dropping below 0.04 for the first time since 2021.
The U.S. Securities and Exchange Commission (SEC) reached a settlement with eToro, a trading platform, resolving allegations that the company failed to register as a broker. eToro has agreed to pay $1.5 million in fines and limit cryptocurrency trading for U.S. users to only BTC, BCH, and ETH.
A solo Bitcoin miner successfully mined block number 860749, earning 3.169 BTC ($180,000). This individual is a member of the Solo CK mining pool, which brings together various standalone miners but only rewards the actual solver of the block.
On August 5, the markets were shaken as BTC dropped below $50,000, and ETH nearly hit $2,100. Throughout the day, over $1 billion in trading positions were liquidated, according to CoinGlass.
American investment bank Jefferies reports a downturn in mining profitability as BTC continues to trade below $60,000, while the hash rate keeps rising. Analysts indicate that in August 2024, daily mining revenues decreased by 11.8% compared to the previous month.
Xapo Bank, a crypto-focused financial institution, received a license in the UK and officially launched interest-bearing accounts in USD and BTC. The Bitcoin account offers an annual interest rate of 1% paid directly in BTC, without the need to lock funds or lend to other users.
On August 2, the U.S. Bureau of Labor Statistics reported an increase in the unemployment rate to 4.3% in July, exceeding expectations of 4.1%.
