• Tesla reports record $1B income for Q2 despite $23M impairment loss on BTC

Tesla’s latest earnings report showed that the firm conducted no digital asset purchases or sales in Q2, but reported an impairment loss of $23 million on its Bitcoin(BTC) holdings. Electric vehicle and clean energy firm, Tesla, has reported $1.14 billion in net income for the second quarter. 

DeFi tokens book double-digit gains after Bitcoin rallies above $39,000

AMP, XVS and RSR price saw strong breakouts after a short squeeze sent Bitcoin price within a hair of the $40,000 level. A renewed sense of optimism has returned to the cryptocurrency ecosystem on July 26 as Bitcoin’s (BTC) recovery above $38,900 has sparked a market-wide rally in the altcoins. 

Ethereum eyes rally to $3K, with 39% ETH price rebound triggering a classic bullish pattern

A falling wedge setup, as well as a rumour of Amazon preparing to accept cryptos, also boosts Ether’s upside appeal. So, it appears, the Ethereum exchange rate is undergoing a bullish breakout confirmed by a high-volumed close above the wedge resistance trendline. The profit-taking target for the current setup is $1,208 above the breakout level, which puts the price en route to $3,257.

Global Crypto ATM installations have increased by 70% in 2021

  • 2021 has seen the installation of over 10,000 new Global crypto ATMs worldwide, with the United States taking the lead. Alongside cryptocurrency’s decade-long adoption drive, the momentum behind the installation of crypto ATMs continues across the globe. Based on Coin ATM Radar’s latest data, crypto ATM installations in 2021 have witnessed a spike of 71.73%.

FTX reduces max leverage from 101x to 20x to encourage ‘responsible trading’

  • Sam Bankman-Fried, the CEO of surging crypto derivatives exchange FTX, has slashed its maximum leverage in a move to promote responsible trading practices. Crypto derivatives exchange FTX has decided to curb risky trading by limiting the leverage available to its users. The reaction from the crypto community was largely positive, with many commenters highlighting the risks associated with high leverage.
  • Will Crypto Adapt To Regulation, or will Regulation Adapt to crypto? Expert respond

BuyUcoin Blog | By Anubha Singh