Cardano (ADA) became 3rd largest crypto / Polygon acquired Heremez / Krypton filed for an ETH ETF

Plus: Binance restricted its services in South Korea and Malaysia

Inside.com Part of   Network August 13, 2021

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The global crypto market cap is $1.98T 6.60%▲ with a 24-hour market volume of $104.19B 16.63%▼. Bitcoin's dominance is currently 45.04% 0.12%▲. CURRENT PRICES BY MARKET CAP # Name Price 24h % 1 Bitcoin BTC $47,457.89 6.67% ▲ 2 Ethereum ETH $3,268.30 6.51% ▲ 3 Binance Coin BNB $403.79 4.56% ▲ 4 Cardano ADA $2.05 15.68%▲ 5 XRP XRP $1.05 8.00% ▲ *Prices as of 4:30 p.m. ET.

Cardano (ADA) is now the third-largest cryptocurrency by market cap, moving ahead of Binance’s BNB. The jump comes as Cardano moves to implement its Alonzo hard fork upgrade. More: The move has resulted in ADA skyrocketing 20% in the past 24 hours, reaching a high of over $2 for the first time since May. Cardano founder Charles Hoskinson is expected to announce the upcoming launch of smart contracts on Cardano later today. The full integration of the Alonzo hard fork is expected to occur sometime in early October.

Polygon announced the acquisition of Hermez for $250M. The deal will result in a token merge of Polygon’s MATIC and Hermez’s HEZ. More: Hermez network is a ZK-Rollup-based Ethereum scaling solution. Hermez’s 26-person team will join Polygon’s 80-person team under the new name “Polygon Hermez.” The peg of the new token will be 3.5 MATIC : 1 HEZ.

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▲ TOP GAINERS # Name Price 24h % 1 Qtum QTUM $12.46 19.14% ▲ 2 DigiByte DGB $0.07078 16.94% ▲ 3 Cardano ADA $2.05 15.58% ▲ 4 Curve DAO Token CRV $2.33 15.46% ▲ 5 XinFin Network XDC $0.1411 14.44% ▲ ▼  TOP LOSERS # Name Price 24h % 1 IoTeX IOTX $0.1006 21.90%▼ 2 Elrond EGLD $136.48 2.05%▼ *Limited to cryptocurrencies in the Top 100. Prices as of 4:30 p.m. ET.

Delaware digital finance company Krypton filed with the SEC for an Ethereum ETF. The ETF will provide ETH exposure reflective of the actual ETH market price. More: Krypton will hold ETH in a trust to ensure the ETF is an actual representation of the cryptocurrency. The company previously applied for a BTC ETF in 2019 and is still awaiting a regulatory decision. Krypton’s ETH ETF marks the 21st crypto ETF filed with the SEC in 2021.

Binance has restricted its services in both Malaysia and South Korea. The exchange is terminating nearly all services following regulatory issues with the two countries. More: The Securities Commission Malaysia ordered Binance to close all business in the country at the end of last month. South Korea did not directly sanction Binance, but the company stopped services there in anticipation of stricter banking rules. Binance has additionally terminated crypto derivatives services in Hong Kong, Germany, Italy, and the Netherlands.

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QUICK HITS Freelance marketing is now fully mainstream! Read how business leaders structure marketing teams with both full-timers and freelancers.* Axie Infinity (AXS) jumped 3% after its Coinbase listing and 70.4% in the past seven days. Fortune Magazine raised $1.3M in its first NFT sale on OpenSea. Trading volume on OpenSea exceeded $1B in the past 30 days, with 1.18 million transactions on the marketplace. A UK court has ordered Binance to track cryptocurrency transactions resulting from the $2.6M hack of Fetch.ai. Argentina’s president, Alberto Fernandez, said he is open to adopting bitcoin (BTC) as legal tender as a way to fight inflation. FunToken (FUN) partnered with Travala.com to integrate FUN tokens for hotel, airline, and vacation bookings. The newest fortnight upgrade to the Bitcoin network has made BTC mining 7.3% more difficult. Let go of your boomer tech. Contractbook unlocks all the business intelligence in your contracts and enables you to build automated workflows.* * Sponsored Content

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Griffin McShane is a J.D. candidate currently living in Portland, Maine. He is a graduate of Providence College, where he studied both computer science and business. Griffin aspires one day to go to the moon and bring some of his altcoins along for the ride. Editor Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford.

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