30 Second Cryptocurrency Price Summary
Current Bitcoin Price: $11,936
Bitcoin has catapulted almost 3% today, finding a short-term range just under $12,000 resistance.
Top-20 altcoins have performed very well over the last 24 hours, with Ethereum soaring just less than 11%, and XRP rising 4%. The largest gainers are Tron and NEM, each of which have rallied more than 15% today.
Top Stories for September 1, 2020
Cryptocurrency derivatives exchange BitMEX has officially launched its new mobile trading app in 140 countries around the world.
The app closely resembles the exchange’s desktop trading experience, however does no include the popular “trollbox” chat feature.
BitMEX has the highest open interest of any cryptocurrency derivatives exchange, currently with over $1 billion in active positions.
Members of Congress in the US have sent a request via letter to the Internal Revenue Service (IRS), asking that proof-of-stake rewards be taxed only when sold – rather than when they are received.
The letter explains that treating staking rewards as income is administratively cumbersome, and a burden to both the individual and the IRS themselves.
Three of the four major Australian banks – known as the “Big Four” – are cooperating to create a new company, which will use blockchain to digitize bank guarantees.
The company, called Lygon, will focus on digitizing commercial lease guarantees, reducing time and costs for landlords.
Bank guarantees are contracts between debtors and banks, which are currently paper-based and can take weeks to complete. The new technology will improve this turnaround period to a single day.
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Source: BitMEX Releases Mobile App to 140 Countries Worldwide – September 1