Crypto News Recap: Bullish Market Jolted by Adoption News

Published August 17th, 2020 - 06:30 GMT
Crypto News Recap: Bullish Market Jolted by Adoption News
the crypto sphere resumed the bullish movements with very good adoption news from all around the world. (Shutterstock)
Highlights
Here are the markets highlights for the week.

Last week, the crypto market went through a wild roller-coaster ride! Bitcoin (Trading at $11,828.07 at the time of writing), went through a price correction losing almost $700 in one day.

However, the crypto sphere resumed the bullish movements with very good adoption news from all around the world.

Standard Chartered Bank Conducts 1st blockchain transaction in Bangladesh

In a huge breakthrough, Standard Chartered Bank announced conducting the first successful blockchain transaction, according to Newage.

British multinational bank issued a Letter of Credit (LC) for the trade between garment exporter Viyellatex Ltd and Viyellatex, the whole process was executed paperless via blockchain.

Samsung Crypto Wallet to Support Gemini Exchange

Samsung and Geminin crypto exchange teamed up to provide access to US-based users of Geminin Exchange. Samsung said that Gemini’s crypto wallet is going to be integrated into Samsung’s own wallet. 

Users of Samsung will be able to trade crypto via the New York-based crypto exchange. This new integration will also allow users to use Samsung devices as cold storage for their crypto assets. 

Visa to Launch First Litecoin Debit Card

According to Cointelegraph, crypto fintech platform powered by Terniothe Blockcard is issuing the first-ever Litecoin visa debit card!

This new virtual card is going to be fully supported by Apple pay, Google pay and Samsung pay per the website. Users will be able to trade and convert their Litecoins into 12 different cryptocurrencies plus the USD.

Crypto Exchange OKEx Mulls Delisting Etherume Classic 

Last week, Famous Malta-based cryptocurrency exchange OKEx issued a report of Ethereum Classic 51% attacks that cost the exchange $5.6 million.

According to the report, the hackers performed a double-spend attack on Ethererum Classic on OKEx” from June 26 to July 9, 2020, the attacker(s) registered five accounts in preparation for double-spending ETC”. However, The exchange did repay all affected users.
As a result of the attack, OKEx suspended deposits and withdrawals of ETC to prevent further losses. Moreover, the exchange might even delist ETC if it didn’t improve the security of its chain.

Crypto Market Cap:

 Source: coinmarketcap.com

Events to keep an eye on:

Indonesia Blockchain Week 2020 - DeFi Series (Aug 18, 2020 - Aug 27, 2020)

The 2nd International Conference on Deep Learning, Big Data and Blockchain (Aug 24, 2020 - Aug 26, 2020)


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