Zwei australische Steuerexperten weisen nach dem Hack von mehr als 8.000 Solana-Wallets darauf hin, dass die Verluste in einigen Ländern steuerlich geltend gemacht werden können.
Dorseys Pläne gehen noch nicht auf – Bitcoin-Geschäft von Block schwächelt im Q2
Obwohl das Hauptgeschäft von Block Inc. Im zweiten Quartal 2022 insgesamt stark war, verzeichnet der Bitcoin-Handel des Finanzdienstleisters einen deutlichen Rückgang.
XRP, SHIB und AVAX können in Europa ab sofort mit der Binance Card genutzt werden
Die bisher ausschließlich in Europa verfügbare Binance Card wird um drei weitere Kryptowährungen erweitert.
Trillion-dollar investment fund takes an interest in crypto – Which cryptos could reap big?
There has been a lot of negative news around cryptocurrencies in the last few months. Despite this, cryptocurrencies have rebounded, and through the first week of August, the total market capitalization has remained steady above the $1 trillion mark. There is also a lot of good news that could also see the whole cryptocurrency market rally throughout the month.
One of them is that BlackRock, one of the most significant investment funds, is getting into crypto. The institution with more than $1 trillion in assets under management is looking to partner with Coinbase. The partnership aims to create a platform through which institutional investors who form part of BlackRock’s client base can enter the crypto market. Not only is this bullish news for the whole crypto market, but it also creates a perfect opportunity for several large-cap cryptocurrencies to rally within the month. That’s because big money tends to focus on large-cap cryptocurrencies.
If you are looking to bet on large-cap cryptocurrencies, here are a few you would want to keep in mind throughout the month.
Ethereum (ETH)
Ethereum (ETH) is one of the top altcoins that have the potential to rally in August if the BlackRock news positively impacts the market. That’s because, besides the market news, Ethereum has a lot going on. One of them is the upcoming merge that will finally see Ethereum run as Eth 2.0. That aside, Ethereum is one of the cryptocurrencies that BlackRock’s institutional money is likely to buy. That’s because it happens to be one of the most secure cryptocurrencies after Bitcoin. Ethereum is already outpacing Bitcoin in August, so there is a strong chance that the momentum could continue.
Cardano (ADA)
Cardano (ADA) is one of the cryptocurrencies that could see its price move as the BlackRock news filters into the market. One thing that makes Cardano attractive to investors is that it is highly decentralized. After the recent issues affecting high-profile cryptocurrencies, the odds are that decentralization will take centre stage in cryptocurrency investments going into the future. Besides its attractiveness to institutional money, the Cardano developer team has announced some significant upgrades in the short term. This could also play a role in giving Cardano momentum in August.
Bitcoin (BTC)
Bitcoin (BTC), being the largest cryptocurrency, is an obvious choice for institutional money. As such, now that BlackRock is interested in the crypto market, Bitcoin can reap big. Bitcoin is already showing positive signs.
After dropping below $20k not so long ago, it has bounced back and is now holding steady above $22k throughout August. There is also data showing that the majority of the Bitcoin in existence today has been taken off exchanges making the number one crypto highly illiquid.
As such, if institutional investors such as BlackRock take an interest in Bitcoin, its value could go up significantly. Even a tiny order could take BTC to unexpected prices within the month.
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Top 3 cryptocurrencies for a high ROI in August 2022
The market is currently trading sideways after more than 6-months in the red. Bearish sentiment remains strong, too, as macro-economic factors paint a picture of a global economy that could be headed for a recession. However, some factors paint a bullish picture for cryptocurrencies and point to a market headed for a major recovery.
One of them is data showing that 40% of U.S investors are buying crypto now. The data shows that the investors are driven by a need to preserve wealth amidst the ongoing uncertainties in the market.
Not only is this a huge validation for cryptocurrencies, but it could also trigger a rally that could see cryptocurrencies return to their most recent all-time highs. That’s because American investors have the money, a factor that could see them push the market up in August. This possibility is reinforced by the fact that Bitcoin is holding strong above the $20k support despite the market turbulence.
Going by this market potential, here are some top cryptocurrencies to keep an eye on in August.
Binance coin (BNB)
Binance Coin (BNB) has started August with a lot of momentum. When writing this article, BNB was up by 6.8%, outperforming most top cryptocurrencies. This follows a series of good news in the last 24 hours.
One of the most important ones is that Binance has entered the Argentine cryptocurrency prepaid market. With more people in South America using crypto payment cards, the uptake is likely to be huge. Since BNB is the native cryptocurrency for payments in the Binance ecosystem, this move translates to a potential increase in demand.
This potential is reflected in its price, and BNB could remain strong throughout the month. This momentum is enhanced by Binance Coin’s push through the $300 resistance. This could see more buyers gain confidence in BNB in the short term.
Polygon (MATIC)
Polygon (MATIC) is still basking in the glory of last month when it emerged as one of the best-performing cryptocurrencies. This month, upside momentum is likely to remain strong for Polygon. That’s because the Ethereum merge is scheduled for next month, and Polygon, one of the bigger Ethereum layer-2, is likely to benefit from FOMO ahead of the merge. For this reason, Polygon remains undervalued in August, even after its most recent rally.
Flow (FLOW)
Flow (FLOW) is one of the best-performing cryptocurrencies in August so far. Flow’s rally has much to do with the news that Meta, Facebook’s parent company, is supporting it. Meta will support NFTs and other digital collectables on the Flow blockchain.
Given that, FLOW is still trading at massive lows compared to its all-time highs. FOMO around this news could see this cryptocurrency emerge as one of the best-performing cryptos in August. It would also not be surprising if FLOW ends the year as the first crypto to retest its all-time highs.
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