Top Crypto News: 8/11

Bitcoin is trying to break the strong resistance zone of $46,800 and is now trading at $46,158. Meanwhile, the second-largest cryptocurrency, Ethereum, is trading close to $3,230.

Let’s find out some interesting crypto news stories for the day.

1 – Ethereum Trading Volume Flipped Bitcoin on Coinbase

Coinbase has revealed that Ethereum surpassed Bitcoin trading volume for the first time on its platform. As per Coinbase’s second-quarter report, Bitcoin trading volumes dropped sharply from 39% to 24%. Meanwhile, volumes for other crypto assets increased from 40% to 50%.

In addition, Coinbase said that ETH trading volume increased 23% in the second quarter. Interestingly, this is the first in the exchange’s nine-year history that ETH trading volume flipped BTC. Coinbase stated that the surging interest in decentralized finance (DeFi) and non-fungible tokens (NFTs) is fueling the volume of Ethereum trading. Additionally, Ethereum 2.0 staking also spurred its trading on the platform.

2 – Crypto Market Cap Hits $2 Trillion Mark With ADA Exploding 17% In a Day

After the price crash in May, the cryptocurrency market cap hits $2 trillion for the first time. Although, most of the traders are keeping an eye on Bitcoin and Ethereum. However, other coins also witnessed a more significant increase in market cap growth.

The second-largest crypto-asset, Ethereum, is up by 30% within a week after its London hard fork. However, Cardano is the most impressive performer, which has surged by roughly 17% in the past 24 hours and currently stands at $1.83. Bitcoin also made a daily high of $46,800 yesterday, which is the highest price line in the past two months. Its current market cap is roughly over $869 billion.

3 – DeFi Yield Protocol | Coin98 Integration to Empower Users With Multi-chain Options

DeFi Yield Protocol has announced its integration with multi-chain wallet Coin98. Coin98 Wallet is the simplest and most secure crypto wallet to store, transfer, receive, and manage cryptocurrency assets. Hence, this integration will help users to add liquidity to DeFi Yield Protocol’s farming pools with high speed at a low cost.

Coin98 Wallet users will also get access to DeFi Yield Protocol’s Stake, Buyback, and Vault products. In addition, other options, such as a decentralized tool dashboard named DYP Tools and NFT dApp, are also available for all Coin98 Wallet users. Additionally, the Coin98 users will get a chance to trade, hold, and make use of the DeFi Yield Protocol token within the Coin98 Wallet. Furthermore, Coin98 Wallet also reached a major milestone by achieving two million addresses.

4 – e-Money Key Developments Amidst Rebranding & Exciting Features

In the last bit of crypto news for today, we have e-Money revealing its key developments and progress. As per the tweet, e-Money’s native token, $NGM, is listed on top exchanges such as KuCoin. Notably, e-Money completed its rebranding last month with some of the exciting features upgraded as listed below:

  • The team has increased the staking rewards for $NGM token holders from 17% to 27% for long-term sustainable network participation.
  • To empower users, the total supply of its stablecoins will be inflated by 0.5% per year.
  • e-Money will also integrate with Polygon for dynamic scalability in its ecosystem.
  • e-Money has collaborated with NFTrade to uplift NFT farming through its stablecoins.

The e-Money protocol offers a wide range of interest-bearing, currency-backed stablecoins, where each token is backed by a reserve of assets denominated in its underlying currency. Hence, these upgrades would entice new users and grow its platform.

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