Daily Market Wrap
Crypto market cap: 1.04 trillion, up 0.45%
BTC price stands at USD 21,599, up 0.30%
ETH price stands at USD 1,686, up 0.71%
Top gainer: Theta Fuel (TFUEL), up 25.09%
Top loser: Lido DAO (LDO), down 10.25%
News of the Day
Why it matters:
In partnership with Mastercard, crypto giant Binance is launching its pre-paid card, offering cryptocurrency “rewards” on customers’ purchases
According to Mastercard’s CEO, Michael Miebach, the Binance Argentina Card will support fourteen cryptocurrencies: BUSD, USDT, USDC, BTC, BNB, ETH, ADA, DOT, SOL, MANA, SXP, XRP, SHIB, and AVAX
Users may swap cryptocurrencies instantaneously for fiat at the point of sale, earn up to 8% in crypto cash back on qualified transactions and pay no fees for ATM withdrawals
Crypto Daily Spotlight
Brief introduction: Ethereum is a smart-contract enabled Layer-1 blockchain. Its execution layer, previously known as ETH 1.0, uses Proof-of-Work (PoW) to validate transactions, which contributes to its scalability issues. Recently, the Merge is set to transition Ethereum to its next phase (formerly known as Ethereum 2.0) as the network’s entire blockchain moves to a new system called proof-of-Stake (PoS), which proponents say will make it more efficient, sustainable and scalable.
Why it matters:
According to a Wednesday blog post by the Ethereum Foundation, the long-awaited Merge upgrade will now be fully completed between September 10 and 20
The Bellatrix upgrade, which is responsible for setting the rest of the Merge process in motion, will activate on the Beacon Chain on September 6
At the Terminal Total Difficulty (TTD) of 58750000000000000000000, the second upgrade named Paris will be triggered, expected between September 10 to September 20
TTD is a measure of how difficult it is for miners to mine a block. It also specifies the end of Proof-of-Work (PoW) and the beginning of Proof-of-Stake (PoS)
Daily Sector Tracker
Daily News Roundup
Coinbase Introduces Liquid Staking Token cbETH Ahead of Ethereum Merge https://bit.ly/3TfcFir
Youtuber BitBoy Crypto Drops Defamation Suit Against Atozy https://bit.ly/3Rc0KQL
Tether Will Not Freeze Sanctioned Tornado Cash Addresses Without US Regulators’ Request https://bit.ly/3T8uxeK
Alameda Research Co-CEO Sam Trabucco Steps Down https://bit.ly/3PTJmyR
Pavel Durov Suggests Telegram May Launch a Toncoin-powered Marketplace https://bit.ly/3KjONGd
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