Crypto Market Overview August 25th | Dex-Trade

Crypto Market Overview August 25th | Dex-Trade

Mark Cuban is excited about Ethereum

American billionaire and Shark Tank star Mark Cuban, in an interview with Fortune, said that he is confident in the successful future of crypto-silver, as the September network update and the transition to Proof-of-Stake were announced to reduce the consumption of coin consumption in 1000 times and this factor can significantly strengthen the position of Ethereum in the market. However, the billionaire has refrained from making any specific ETH price predictions as he does not know exactly how the transition to Ethereum 2.0 affects the value of the coin in the short term. However, Cuban that in the market for emission permits to be put into operation the second largest crypto network. Recall that Cuban has not hidden his warm feelings for Ethereum for a long time, and in November last year he even called himself “Ethereum maxi,” The businessman is convinced that the advantage of the crypto-silver blockchain is its versatility and utility. These “guesses” are partially confirmed by the data of the analytical platform DefiLlama, according to which Ethereum still accounts for 58% of the total value locked (TVL) among all cryptocurrencies. By the way, Cuban is extremely skeptical about Bitcoin and Cardano. Until 2017, he claimed that even bananas are healthier than BTC. About the same way, he “admires” ADA, which, in his opinion, is less useful than Dogecoin — the main meme crypto of the present.


Tornado Cash Developer to Remain in Jail for Another 3 Months

The developer of the US-sanctioned Ethereum-based Tornado Cash cryptocurrency mixer, Aleksey Pertsev, will have to spend at least another 90 days in prison without charge, as a court in the Netherlands denied the businessman bail. Pertsev was arrested by the Dutch authorities in Amsterdam on suspicion of hiding illegal financial flows and allowing money laundering through Tornado Cash. His arrest predictably caused outrage and concern in the crypto community, as most traders and investors believe that such actions by the authorities could have serious consequences for other open source developers. Immediately after the arrest of Pertsev, a wave of protests swept across the country from supporters of cryptocurrencies and developers of open source products, the use of which cannot be directly controlled by its creators themselves. Now anyone who does not agree with the arrest of Tornado Cash can sign an electronic petition demanding his release. In order for the petition to be considered by the authorities, it must collect at least 2,500 signatures, and at the moment this minimum has already been collected. Now about 50 people have gathered on Dam Square in Amsterdam to protest against the actions of the court. If their position is accepted, the court will be obliged to review the measure of restraint for the developer.


People Still Underestimate Crypto Payments: Vitalik Buterin's Opinion

The co-founder of Ethereum, Vitalik Buterin, suggests that the superiority of cryptocurrency transactions and, in general, the possibilities of crypto are often underestimated because they are not considered in comparison with fiat currencies. “People continue to underrate how often cryptocurrency payments are superior not even because of censorship resistance but just because they're so much more convenient. Big boost to international business and charity, and sometimes even payments within countries.” — Buterin tweeted. According to the July Cryptocurrency Payments report by big data analytics platform PYMNTS, 85% of companies with over $1 billion in annual revenue use crypto payments to find and acquire new customers. At the same time, the availability of cryptocurrency debit cards is growing symmetrically. For example, Binance recently partnered with Mastercard to launch prepaid crypto cards for Argentines. Many of these cards, such as Wirex, even reward users with crypto cashback for card payments and make it easier to use several major fiat and cryptocurrencies, as well as withdrawing cash from ATMs. And one of the most illustrative examples of the benefits of crypto for charity is the activities of the Ukrainian charitable foundation Aid For Ukraine. Russian occupation troops have been waging a war of conquest on the territory of Ukraine for half a year, and during this time the fund was able to raise $54 million in donations in cryptocurrency to resolve the humanitarian crisis in the country and help victims of the war.