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On August 4, the precious metals firm Kitco Gold announced the launch of a gold-backed stablecoin which will leverage an audit process via Cohen & Company with monthly attestation reports. Kitco has partnered with Tradewind Markets, First Digital Trust, and Stably, an asset tokenization provider. The gold-backed ERC20 tokens called “kitco gold (KGLD)” “represent one […

On-chain data shows that shortly after crypto exchange Binance observed Bitcoin inflow of around 12k BTC, price fell by almost 5%. Huge Bitcoin Inflow To Binance As pointed out by a CryptoQuant post, inflow of around 12k BTC was seen on Binance, the largest crypto exchange by market volume. The Bitcoin inflow is an indicator that shows the total amount of BTC transferred to a crypto exchange from a personal wallet. As investors usually send their crypto to exchange wallets for cashing out, altcoin purchasing, etc., the indicator’s value going up would imply there is some selling pressure in the market. A strong increase in the inflow metric can have direct effects on the price, which usually shows as a drop just a few hours later. Related Reading | Fear And Greed: Sentiment Turns Neutral As Bitcoin Stagnates, What To Do? Now, here is a chart that shows the trend in the value of the BTC inflow for Binance: The BTC inflow for Binance shot up earlier today | Source: CryptoQuant As the above graph shows, there was a sharp spike in the Bitcoin inflow for the crypto exchange Binance. This inflow’s value was around 12k BTC, worth around $470.6 million at the current rate. The chart also displays the curve for  BTC’s price. It looks like just a few hours after this spike occurred, the crypto dropped in value by about 5%. Related Reading | How A Hammer & The Golden Ratio Could Mean 6 More Months Of Bullish Bitcoin And it makes sense as movement of 12k BTC is quite significant, and a spike like this might mean there is some short-term selling pressure in the market. While this inflow was quite significant, another indicator, the Bitcoin all exchanges netflow, shows that there was outflow of about 19k BTC from all exchanges. This more than makes up for the inflow to Binance, hence the exchange reserve overall still looks to be down. After plummeting, the Bitcoin exchange reserve continues to be down | Source: CryptoQuant BTC Price At the time of writing, Bitcoin’s price floats around $k, down % in the last 7 days. Over the past month, the cryptocurrency has amassed % in gains. Below is a chart that shows the trend in the price of the coin over the last 6 months. BTC’s price zig-zags below the $40k resistance level | Source: BTCUSD on TradingView After enjoying a refreshing period of prolonged uptrend, Bitcoin’s price fell down after peaking at $42k. Now, it seems to be range bound below the $40k mark as the coin can’t seem to break it again. It’s unclear where the price will head from here. It could either continue to be stuck in this range bound environment below the $40k level, or perhaps it will have a breakthrough soon, and a bull run will ensue as hinted by the Bitcoin bullish crossover.

Hopes of an eventual BTC ETF approval and a rebound off a key support level pushed Bitcoin price well above the $40,000 level, but can the bulls sustain the current volume?

Melanion Capital has received approval to list an ETF that tracks a basket of bitcoin-related stocks, an EU Ucits first.

The Federal Financial Monitoring Service of Russia is going to start tracking cryptocurrency transactions. The agency has already selected a contractor to develop the platform. The entity is affiliated with one of Russia’s largest financial institutions, Sberbank. Rosfinmonitoring to Keep Record of Cryptocurrency Wallets Used for Illicit Purposes Russia’s financial watchdog, Rosfinmonitoring, has selected a […

Cardano (ADA) has recently secured another win in its long repertoire of wins lately. The native coin of Cardano, ADA, has now been approved to be listed in Japan, which features one of the hardest listing requirements in the world. Only a handful of coins have been able to receive approval to be listed on exchanges in Japan, and ADA just became one of them. Japan has always been crypto-friendly right from the beginning. But that does not mean they have lax laws when it comes to cryptocurrencies. The coins that are listed on exchanges in Japan are carefully screened to make sure that they are good projects for its citizens. This means ADA getting approved makes the coin even more valuable now. Related Reading | Cardano (ADA) Launches Crypto Charity Platform With Rwanda-Based NGO Sebastien Guillemot, CTO and Co-Founder of dcSpark made the announcement on his Twitter profile, outlining that Japan has extremely strict rules for getting listed on crypto exchanges. Cardano was finally listed in Japan! 🇯🇵 $ADA Japan has extremely strict rules for crypto exchange listings. Only a small number of tokens can be listed in Japan, and ADA is now on that list! 🎉🎉 https://t.co/n2oxPHKa36 — Sebastien Guillemot (@SebastienGllmt) August 3, 2021 A Very Important Listing Listings like these do not happen all the time. Cardano (ADA) now joins the likes of Bitcoin, Ethereum, and Litecoin to be amongst coins allowed to be traded on Japanese exchanges. The importance of this listing cannot be overemphasized in the growth of Cardano (ADA) going forward. Guillemot went on to add another tweet that compared the approval in Japan to the listing of the digital asset on Coinbase back in March for the Japanese crypto community. Because while the listing on Coinbase was big news for the rest of the market, Japanese users were still mostly cut off from it. Owing to the strict regulations around cryptocurrencies in the country. Related Reading | Cardano (ADA) Launches Connector For DApps Integration Although the Cardano ICO had taken place mostly in Japan back in 2015, the asset never got listed on any Japanese exchange, until now. This opens access to Cardano (ADA) to a wider customer base who were previously cut off from the market. The listing will allow investors in Japan to finally buy into Cardano (ADA) using exchanges in their own country. Cardano (ADA) Price Reaction The news of the listing has not provided any significant boost to the price of Cardano (ADA) so far. Coin price continues to trend around $1.35, not showing much improvement over the last 24 hours following news of the listing breaking. ADA price remains sluggish | Source: ADAUSD on TradingView.com ADA price remains low momentum despite the market showing continuous bullish trends over the past week. Posting small recoveries, only to dip back down and continue slow movement as time passes. The price of the digital asset is currently trading at $1.357, with a 0.47% gain and a $43.6 billion market cap.

Chris Waller’s comments come after Jerome Powell said the Federal Reserve would be issuing a discussion paper on CBDCs.

The Invesco Bitcoin Strategy ETF may “at times” invest in Bitcoin ETFs listed outside of the United States.

Marathon Digital Holdings has published the company’s bitcoin production and mining operation updates for the month of July and bitcoin production increased 66% month-over-month. Furthermore, the financial services giant Fidelity Investments purchased a 7.4% stake in Marathon in July, spending around $20 million for the shares. Fidelity Investments Scoops Up Shares of Marathon for $20 […

CeDeFi presents a new financial system and it should be built by using the best of each other, with DeFi leading and CeFi contributing.

Architects of Paraguay’s Bitcoin legislation argue that its regulatory framework is the best way to foster a mining industry in the country.

The U.S. government has seized cryptocurrencies worth $1.2 billion so far this year, according to an Internal Revenue Service director. This is a significant increase from $137 million in crypto seized the previous year. $1.2 Billion in Cryptocurrencies Seized Jarod Koopman, director of cybercrime at the Internal Revenue Service (IRS), shared some information on cryptocurrencies […