Cardano price is hot, but data shows pro investors haven’t warmed up yet
ADA has gained 57% in the past 3 weeks but derivatives data shows pro investors aren’t bullish yet. Cardano (ADA) has been in the spotlight lately and this is partly because of its early 2021 price performance and the fact that it’s a huge fan base.
Dogecoin and Shiba Inu fetch 50% gains as altcoins rally
New use cases and a massive token burn signal that the dog days of summer could be over for DOGE and SHIB. The growing optimism has also translated into a bounce in dog-themed meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB), which have both seen their prices rise by more than 55% over the past three weeks.
Total crypto market value breaks $1.9T for the first time since May
Crypto markets have recorded a notable rise, surging $700 billion, or 58%, over the past 21 days. The cryptocurrency market has continued a solid bullish trend in early August, with the total market capitalization nearing $2 trillion. The total crypto market cap broke the $1.9-trillion mark on Monday, retouching this level for the first time since May 18.
MicroStrategy and Bitcoin mining stocks rally as BTC price rebounds
The price of MARA, RIOT, MSTR, and other publicly listed companies with exposure to Bitcoin has nearly tripled in the last three months. The price of Bitcoin (BTC) soared to a three-month high at $46,293 after bulls confirmed that they intended to take full control of the market. While crypto traders may have returned to the green and pro traders are looking to add larger leveraged positions, not every class of investors has obtained direct exposure to Bitcoin.
Cryptocurrency mining under proposed US policy changes
The impact of tighter crypto reporting requirements in the digital asset provision of the Infrastructure Investment and Jobs Act will concentrate on cryptocurrency Mining. First, miners — at least those located in the United States — would be subject to significantly enhanced requirements for reporting to the Internal Revenue Service. The cost to miners of complying with such requirements is likely to be large and largely fixed.