Staying updated on the ever-changing cryptocurrency market doesn’t have to be as tough as keeping up with the Kardashians. I’ve rounded up the latest set of news to help y’all stay in the loop.
Here’s a snapshot of how bitcoin and its buddies have fared in the past seven days as of August 31, 12:30 am GMT. All green, fellas!
Bitcoin ETFs still in limbo
Well, at least they’re not in hell, aren’t they?
Crazy Rich Asians Cryptocurrency traders were in a glass half-full mood thanks to the SEC announcement late last week, stating their plans to review their earlier decision to reject a number of bitcoin ETF applications.
As of this writing, the regulator hasn’t made any new announcements yet, keeping investors’ hopes up that this set or the next ones awaiting their ruling around the end of next month might get the green light.
It also helped that data from another U.S. financial watchdog, the CFTC, revealed that bearish bets on bitcoin futures have been on the decline. Although the market is still net short on the cryptocurrency, there has been a more notable shift away from bearish sentiment the other week.
Altcoins take strides
Bitcoin wasn’t exactly hogging the spotlight in the past few days either, as its peers were actually seeing stronger catalysts. Here’s a quick rundown.
First up, as my buddy Big Pippin briefly pointed out in his crypto tech analysis this week, Dash has partnered with Kripto Mobile Corporation (KRIP) to tap into the Latin American market.
Now several countries in this region, like Venezuela and Argentina, have been grappling with hyperinflation and rapidly depreciating currencies. With that, there has been a strong need for an alternative store of value and a better means for facilitating transactions, and Dash is poised to take advantage of this demand.
IOTA has also gotten a considerable boost this week, thanks to backing from Japanese tech giant Fujitsu. In its official notice, the company shared that it will be using the IOTA protocol as an “immutable data storage medium” for audit trails across “industrial production environments and supply chains.”
Meanwhile, Bitcoin Cash is dealing with a bit of drama as major developers Bitcoin ABC and nChain are threatening a split into two rival chains before the scheduled hard fork in November.
Lastly, ethereum is seeing a bit more green on reports that the CBOE is gearing up to launch futures on this digital asset later in the year. But on the “WTH” side of things, dogecoin has spiked more than 20% in value over the past 24 hours as dogethereum (Yes, you read that right) is set for launch on September 5.
Trade BTC, ETH, and LTC on Yahoo Finance
Proving that it’s not (yet) headed in the way of the dinosaurs unlike its messenger platform, Yahoo Finance recently announced the integration of bitcoin, ethereum, and litecoin trading on its iOS app.
ICYMI, Yahoo Finance is now more than just a site or app to check stock market data and company updates as it allowed users to sync their broker portfolios and trade on the platform itself. And now it is keeping up with the cool kids by adding these top cryptocurrencies to the mix.
Stats for other altcoins such as ETC, BCH, and EOS are also viewable on the platform but currently do not have buy or sell options just yet.