CoinGecko Weekly News Highlights – Pit Stop
Thank you for watching this week’s Crypto Weekly Highlight brought to you by CoinGecko, let’s take a look at some big news over the week.
Pit Stop
The week didn’t exactly ended the way we hoped it to. While Bitcoin (BTC) started the week with a peak of $10,500. It traded in a tight range before taking a $1,000 plunge to end the week below the $9,500 mark.
Ether (ETH) traded within similar range as well, fluctuating between $185 to $195 before plunging and ending the week below $170.
News featured:
📜 Bithumb will Review Listings and Delist Failing Coins
Bithumb will start reviewing its cryptocurrency listings on a monthly basis,
According to local news agency Yonhap , the reviews will be undertaken by the newly formed Listing Eligibility Deliberation Committee, starting from September.
A few criteria have been established for possible delisting, including;
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low trading volume,
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low Market cap,
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lack of developer support,
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associations with illegal activities
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requests from governing bodies, among others.
💈 Binance Launches "Binance Lending" with up to 15% APR
Binance is launching a lending business in its bid to attract customer deposits.
Users will be able to lend Tether (USDT), Ether Classic (ETC) and Binance Coin (BNB) for a 14-day fixed maturity term to earn an interest.
Binance Lending will be available for customer subscription starting from 6:00 UTC on Aug. 28, on a first-come, first-served basis.
📤 Telegram plans to release its Gram tokens ahead of Oct. 31 deadline
Messaging giant Telegram is reportedly planning to get its native tokens Gram out in the market ahead of its scheduled date of Oct. 31.
Although not released, Gram token IOU (GRAM) have been traded on various exchanges.
Telegram reportedly raised $1.7 billion dollars last year in what was the largest private token sale to date.
Decred (DCR), the cryptocurrency project focused on governance, has added a privacy-focused feature to its cryptocurrency.
The feature is based on CoinShuffle ++, a peer-to-peer coin mixing protocol, which uses “simple code and proven cryptography,” Decred added.
Asides from improved privacy, Decred expects a 12 times increase in on-chain transaction storage.
🍷 Portugal exempts VAT for Cryptocurrency Trading and Mining
Portugal’s Tax and Customs Authority has clarified that both cryptocurrency trading and payments in crypto are exempt from VAT in the country.
The agency reportedly provided the clarification to a local crypto mining company by publishing an official ruling document.
Cryptocurrency revenues from token were also exempt from the Income Tax for Individuals (IRS).
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