Weekly Crypto Report (05-11 August) | What Happened This Week in Crypto

Here you will know about the weekly crypto report of last week regarding bitcoin and other cryptocurrency events happened all around the world. 

1 Amazon Planning To Build a Blockchain Ads Platform

As per the recent news, a job listing by Amazon showed, hiring software engineers to develop an advertising Blockchain. Recently Amazon made a Job listing on LinkedIn for a software engineer for its Colorado-based team, to work on advertising Blockchain. As stated in a LinkedIn post which says, “Our new team in Boulder, 

2 Binance Official Report On Its Users Kyc Data Leaked FUD

The largest cryptocurrency exchange binance published the official report regarding the ongoing binance users KYC data leaked FUD, reported on 07 August 2019. In the report, binance said that an anonymous person or group demanding 300 BTC in exchange for withholding 10,000 photos that bear similarity to Binance KYC data. But binance refused the offer

3 VeChain partnered With winemaker Of Australia Blockchain-Encrypted Wine Bottles

The Blockchain Platform Cryptocurrency VeChain is partnered with Winemaker Penfolds of Australia to deliver the blockchain-encrypted wine bottles, reported on 06 August 2019. The wine bottles are easily available for its customers at the Waigaoqiao International Alcohol Exhibition & Trading Center, D.I.G.’s  Flagship Store and the Sen Lan Shang Du in Pudong New District

4 Technical Analysis: Bitcoin Could Hit $17,000 By the End of August

Bitcoin is again started showing bullish strength after a couple of weekly downtrends. Bitcoin makes a new yearly high of $14000 and shown a quick correction to $9000 levels ($9100 more accurate). Joe Mccan a Bitcoin technical analyst believes that Bitcoin will continue to rise and will touch $17,000 by the end of August.

5 Iran’s New Law Restricted Trading Activities Using Cryptocurrency

The Government of Iran proposed the new law regarding cryptocurrency markets that restricted trading activities in the country using cryptocurrency, reported on 4 August 2019. According to the report, the new bill stated that the government and the banking system would not view the digital coins as legal tender and the Central Bank of Iran would 

6 PayPal’s President Confirm’s To Launch Facebook’s Cryptocurrency By 2020

PayPal’s President Dan Schulman Confirmed the launch of Facebook’s Newly dubbed Libra Cryptocurrency In the Q1 of 2020 and also confirming PayPal to be a part of their upcoming new projects. According to a new report published by Valor, a Brazilian newspaper, Schulman believed Libra Coin to be a stable and inclusive currency

7 Bitcoin Hashrate Made a New All-Time High, Bitcoin Preparing to Break $12,000

Bitcoin network has passed another milestone on 6 Aug as the Bitcoin network hash rate hit a new all-time high. According to Blockchain.info chart, Bitcoin hashrate 79.9 quintillions SHA256 hashes per second on 6 Aug, this is a new record for Bitcoin hash rate. Bitcoin Hashrate Continue the Uptrend Bitcoin hashrate is the total computing 

8 Indian Cryptocurrency Users will Lose Around $13 Billion if Government Bans Crypto

Sidharth Sogani, CEO at Indian Crypto and Blockchain research firm Crebaco Global Inc believes that India would subsequently lose about $12.9 billion worth in market if cryptocurrency is banned in the country. Later sharing the reasons with a news outlet AMBCrypto, Sogani said many of the cryptocurrency founders with Indian CEO’s has already moved offshore

9 Bitcoin Price Doubles In Past 3 Months Correlation With Gold

According to a recent data Digital currency has almost doubled in relation to physical gold, Bloomberg’s report on the 7th of August. These statistics have been released keeping in mind the price correlation between Bitcoin (BTC) and real gold which previously was at 0.496 significantly doubled to 0.837 from the past 3 months. 

10 Bitcoin Taking Advantage of US-China Trade War

Bitcoin is performing as a store of value assets in 2019, as the US-China Trade War rages. Bitcoin and Gold performing similar in this financial situation. Chief Marketing Officer (CMO) of blockchain consultancy Rhythm Technologies, Chris Reinertsen said in an interview with Forbes that investors are pouring into Bitcoin in addition to traditional safe-haven assets. 

11 Binance Announced To Add Three New Assets For Margin Trading

The largest cryptocurrency exchange Binance announced to add USDC, LTC, and ETC trading pairs on their margin trading platform reported on 08 August 2019. According to the report, Binance added the new margin pairs for USDC, LTC, and ETC assets as BTC/USDC, LTC/USDT, LTC/BTC, ETC/USDT, ETC/BTC

12 Walmart Stablecoin Have More Chances to Get a Green Signal from Regulators

Experts believe that Walmart stablecoin (cryptocurrency project) have more chances to get a green signal from regulators. A senior policy analyst at investment banking corporation Cowen, Jaret Seiberg said that Walmart stablecoin should not face as many regulatory issues as Libra, Facebook’s cryptocurrency project. 

13 Binance Announced New IEO- Perlin (PERL) Token

Binance the leading cryptocurrency exchange announced its next IEO (Initial Exchange Offering). The next Binance launchpad project name is Perlin (PERL) token. This is Binance 8th launchpad IEO and the previous IEOs shown good returns. The Perlin (PERL) token sale will follow a new updated lottery & airdrop format. The BNB (Binance Coin) holdings balance