Among the outstanding news of the week is the realization of the second edition of the DescentralizAr event, organized and carried out online by the NGO Bitcoin Argentina. Experts and specialists from the cryptocurrency ecosystem of the South American country participated in the forum where Bitcoin was discussed, focusing on mining, energy expenditure and the price prospects of cryptocurrencies.
The price of bitcoin it surpassed $ 50,000 this week. On average, the pioneer cryptocurrency rose by more than 4.9% over these seven days. At the time of writing, BTC is trading at USD 50,074, as reflected in the market price of Latin America and Spain, according to the CriptoNoticias price calculator.
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These are the most outstanding news:
- This August 19 and 20, the DescentralizAr event was held, which was focused, on its first day, on the issue of money, Bitcoin mining and its energy consumption. Particularly in the panel dedicated to the issue of energy consumption in mining, the participants agreed on their view that the activity it does not consume as much electricity as claimed. They noted that the benefits of Bitcoin outweigh the costs. In the same forum, the financial markets analyst, Carlos Maslatón, predicted that in the remainder of 2021 the cryptocurrency would reach $ 95,000 per unit.
- With the London update of the Ethereum (ETH) network, which included the EIP-1559 improvement proposal, users expected that the costs of transaction fees would be alleviated, after the commission scheme had changed. However, the situation has so far had the opposite effect. What is happening on the Ethereum network is due, in part, to a significant increase in the number of transactions that are being processed, which is mainly due to the rise of non-fungible tokens (NFTs) that operate on the network.
- BlackRock, the world’s leading investment company, is injecting funds into two companies dedicated to mining digital assets. The company, headquartered in New York, disbursed $ 382 million to inject into Marathon Digital Holdings and Riot Blockchain, two US corporations listed on the Nasdaq market. For its part, the cryptocurrency exchange, Coinbase, announced that started investing in digital assets as business policy. The US company made a first disbursement of $ 500 million to acquire multiple crypto assets, including: bitcoin (BTC), ethers (ETH), DeFi tokens and Proof of Stake (PoS) assets.
- The decentralized finance protocol (DeFi), Poly Network, reaches out to the attacker who stole $ 600 million from its platform last week. The hacker, nicknamed Mr. White Hat, was invited to join the company. Poly Network reports that it has been in communication with the attacker, whom they want to make into a “chief security advisor.” On the other hand, the team behind the decentralized financial protocol Luna Yield, allegedly left the project taking more than USD 7 million in assets. Both the website and the social networks of Luna Yield (launched just last August 16) have been eliminated. Everything seems to indicate that it is a new case of exit scam known as exit scam.
- The Spanish National Securities Market Commission (CNMV) issued a new warning against 12 unregistered entities. On this occasion, the regulatory body pointed to platforms that offer bitcoin (BTC) investment and trading services. Meanwhile, in Toledo the police dismantled a Bitcoin mining farm. At the facility, agents located 111 cryptocurrency mining equipment and sophisticated cooling and fume extraction equipment.
- In Venezuela there was a new seizure of Bitcoin mining equipment. The incident occurred in Lara state, in the west of the country. The reports indicate that a group of police officers from the entity raided a warehouse that, according to their information, processed toxic material illegally. What started as an operation for environmental crimes ended with the seizure of 28 computers Bitmain brand. Similarly, but in the city of Caracas, the Bolivarian National Police (PNB) seized 17 equipment to mine bitcoin on August 20. During the proceedings, a person identified as Hung Elizabeth was arrested for alleged smuggling.
If you want to know the meaning of several words in the crypto world terminology, you can consult them in the extensive CryptoNews Glossary.
ATH (All Time High): acronym in English for ‘Historical High’, indicates that the price of a crypto asset reached its highest point ever achieved with respect to another specific currency. For example, Bitcoin reached an ATH (all-time high) of $ 19,000 in December 2017.