August 7-13 all top crypto news in one blog

August 7-13 all top crypto news in one blog

August 7-13 all top crypto news in one blog. our picked crypto news with a Twitter post is given below:

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Elon Musk: US ’past peak inflation’ after Tesla sells 90% of Bitcoin.

With Tesla now selling 90% of its Bitcoin holdings during the bear market, Elon Musk says the U.S. economy is “past peak inflation” and predicts that only a “mild to moderate” recession could be incoming.

“We sort of have some insight into where prices are headed over time, and the interesting thing that we’re seeing now is that most of our commodities,

most of the things that go into a Tesla — not all, more than half the prices — are trending down in six months from now,” Musk said at Tesla’s 2022 Annual Meeting of Stockholders.

Coming sooner: ETH devs move up the date for Merge

The long-awaited Merge looks ahead of schedule, with Ethereum core developers Tim Beiko and Terence Tsao agreeing on a developer call Thursday to tentatively set the Merge date for Sept. 15.

The previously estimated date from Beiko was Sept. 19, which suggested that the final preparation work would go smoothly after the final Goerli testnet merge went off without a hitch this week.

Coinbase posts $1.1B loss in Q2 on ‘fast and furious’ crypto downturn

Major crypto exchange Coinbase posted a whopping Q2 loss of $1.1 billion, citing a “fast and furious” crypto downturn during the quarter. The firm noted that Q2 was a “tough quarter” as trading volume and transaction revenue fell 30% and 35%, respectively.

t marks the second consecutive quarter of loss for the company this year. “The current downturn came fast and furious, and we are seeing customer behavior mirror that of past down markets,” the firm wrote in a shareholder letter posted on Tuesday.

Decentralized apps on Polygon hit 37,000, rocketing 400% this year

The number of DApps on Ethereum scaling platform Polygon topped 37,000 this week, marking a 400% increase since the start of 2022.

The project provided a breakdown of DApp projects built on Polygon, showing that “74% of teams integrated exclusively on Polygon, while 26% deployed on both Polygon and Ethereum.”

Polygon also stated that its ecosystem had seen more than “142 million unique user addresses and $5 billion in assets secured,” with around 1.6 billion transactions processed on the network.

Anonymous user sends ETH from Tornado Cash to prominent figures following sanctions.

One day after the U.S. Treasury sanctioned crypto mixer Tornado Cash over its alleged role in money laundering operations, intervals of 0.1 Ether transactions began being sent from the smart contract to prominent figures such as Coinbase CEO Brian Armstrong and American television host Jimmy Fallon.

The move appears to be a critique or satirical commentary on the U.S. government’s current policy of sanctioning addresses that interacted with Tornado Cash.

At the end of the week, Bitcoin (BTC) is at $23,840.93, Ether (ETH) at $1,882.20 and XRP at $0.37. The total market cap is at $1.13 trillion, according to CoinMarketCap.

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Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Celsius (CEL) at 93.85%, Ankr (ANKR) at 46.99% and Decred (DCR) at 26.34%.

The top three altcoin losers of the week are ApeCoin (APE) at 9.03%, Curve DAO Token (CRV) at 5.01% and Kusama (KSM) at 4.53%.


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