30 Second Cryptocurrency Price Summary
Current Bitcoin Price: $11,422
Bitcoin has plunged back down to the low $11,000s today, less than a day after breaking the $12,000 mark. Prices reached as low as $11,232 before finding a range.
Top-20 altcoins have taken a big hit, as Ethereum falls 5%, XRP drops 4%, and EOS takes a 7% tumble. There were two winners, however, with Binance Coin rising almost 4%, and TRON defying all odds with an 18% jump.
Top Stories for September 2, 2020
Bithumb, South Korea’s largest cryptocurrency exchange, has reportedly has its headquarters raided by police.
Sources say that the reason for the raid was a $25 million token sale on Bithumb, which resulted in the loss of millions of investor dollars.
Bithumb chair, Lee Jung-Hoon, has been accused of fraud and moving money internationally in an illegal manner.
24-hour Ethereum mining revenue reached $17 million yesterday, a new all-time high for the network.
The new record was hit amidst skyrocketing fees, triggered by a continuation of the recent DeFi craze, as total fees more than tripled the highest figures from the December 2017 crypto boom.
Bitcoin’s single-day record still sits at $21.4 million, which also occurred in 2017.
Yet another new DeFi platform has landed several hundred millions of dollars in total value locked, as KIMCHI attracts $500 million from yield farmers.
The figure was hit within just hours of the platform’s release – a clone of the SushiSwap platform which took inspiration for the Uniswap decentralized exchange.
Since the $500 million peak, total locked value has retreated to about $150 million, a hefty figure despite the smart contract not yet being audited.
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Source: South Korea’s Largest Crypto Exchange Raided by Police – September 2