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Crypto market continues to fall – Polkadot is going down significantly

© Trending Topics

After a short-term high on the weekend, the crypto market suffered a slump on Monday (Trending Topics reported) and the tendency continues on Tuesday (August 3rd). All of the top 20 currencies have depreciated in the past 24 hours. The Bitcoin price has fallen by almost 4%, with a value well below €33,000 and capitalization is just over €600 billion. Polkadot was hit particularly badly. The Ethereum competitor suffered a loss of 7% to the value of less than €15. The capitalization is now below €15 billion.

The Polkadot chart for the past 24 hours. © CoinMarketCap

In addition to Polkadot, things are also looking bad for the currencies XRP, Uniswap, Solana, and Bitcoin Cash at the moment. They have all lost 6% in value. XRP, number six in the crypto market, is now worth around €0,60 with a capitalization of around €28 billion. The value of Uniswap is less than €18, with the capitalization still holding over €10 billion.

Solana is now valued at €18 with a capitalization of €7.6 billion. At Bitcoin Cash, the price has fallen to €445, the capitalization is €8.3 billion. On the market as a whole, capitalization slipped again on Tuesday. While it was €1.347 trillion on Monday, it has now fallen to €1.313 trillion. At the weekend it was still €1.4 trillion.

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TaxBit becomes the new crypto unicorn

After a large round of financing in March, the US startup TaxBit, which develops tax software for crypto traders, has now raised another $ 100 million. This puts the valuation at around $ 1.5 billion, which means that the start-up company has achieved unicorn status. With its concept, TaxBit has even achieved cooperation with the US tax authority IRS and checks crypto transactions for them.

Bitcoin outflows on centralized exchanges at their highest level since the beginning of the year

Bitcoin outflows from centralized exchanges have soared to their highest level since the beginning of the year, according to a new Glassnode report this week. Traders would have withdrawn around 40,000 BTC in the past seven days. The outflows would have accelerated to a rate of over 100,000 BTC per month – only for the third time since September 2019. There was a massive outflow, especially at Coinbase. Currently, only 13.2% of the BTC in circulation is held on exchanges. “This represents an almost complete reversal of the significant inflow seen during the May sell-off,” the report said.

Mastercard develops crypto cards with Exchange CoinJar

The US credit card provider Mastercard is taking another step in the field of cryptocurrencies. Together with the Australian crypto exchange CoinJar, the group is developing its own crypto card, according to Cointelegraph . This should enable the Australian market to issue digital currencies within Mastercard’s Fiat infrastructure. The CoinJar Card should allow users to make crypto purchases “wherever Mastercard is accepted.” The exchange will convert the digital currency CoinJar desired for payment into Australian dollars and thus carry out the transaction.

Disclaimer:

This article is for informational purposes only. We do not recommend any actions based on this information. The material is not to be construed as an offer or recommendation to buy or sell any security, or as investment advice. Furthermore, this information does not represent a guarantee that the systems described here are suitable or useful for a person. Past performance is not an indicator of future price developments.

 

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