Crypto Sunday analysis: August 16, 2021

Cryptoacets continued to grow last week, and Cardano (ada) has been outstanding. The island started the week at $ 1.41 but has since risen, rising to more than $ 2.24 on Saturday, a 96% increase. At the time of writing, cryptoasset was trading around $ 2.14.

Bitcoin remains in the background towards the $ 50,000 mark as it continues its sustained recovery. After starting the week below $ 44,000, BTC sometimes traded above $ 48,000 as the rally continued with some volatility. It is currently trading at $ 47,431.

Ethereum is trading confidently above $ 3000 after its highly anticipated London hardfork two weeks ago. The ETH started the week at about $ 2950, but despite Friday’s rise, it has not fallen below $ 3,000 since. It is currently trading at $ 3284.

US Infrastructure Act passed

The $ 1 trillion infrastructure bill passed by the U.S. Senate last Tuesday means tax revenues from crypto assets could soon help fund U.S. ambitious infrastructure needs, with a $ 28 billion increase planned over the next 10 years.

The bill includes new rules for crypto companies in the U.S. and extends the definitions of what determines crypto brokerage to exchanges, which would create new higher requirements for users to report taxes. The bill is currently going to the House for further investigation.

As rumours of Future Market Regulation persist, the Federal Reserve continues to encourage accelerated payments by developing its own digital currency, tied to the US dollar, highlighting enthusiasm for digital payments.

Messi’s groundbreaking new contract paves way for more cryptography to emerge

Footballer Lionel Messi’s move to Paris Saint-Germain has caused a stir in the crypto world. Part of his salary will be paid in some form of cryptocurrency, a move other clubs could follow.

Messi to be rewarded with fan tokens issued Socios.com, allowing owners to vote on a number of decisions relating to the club. Although it is usually relatively

Join the Discussion

  • BrokerEUR/USD
    OANDA 1.3pips (variable) margin: 3.33%
    ETX Capital 0.6pips (variable) margin: 3.33%
  • Back to top