$50B Cryptocurrency Moved Out of China Over Last Year – August 21

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $11,765

Bitcoin price has remained in a tight range once again over the last 24 hours, failing to cross the $11,900 mark on a slow move.

Top-20 altcoins have had very mixed results, as Ethereum and XRP remain unchanged, Chainlink falls 9%, and Neo rallies another 11%.

Top Stories for August 21, 2020 πŸ”₯

πŸ‘‰ $50B Cryptocurrency Moved Out Of China Over Last Year

A report has found that $50 billion worth of cryptocurrency has been moved out of China over the last year, possibly as a means of capital flight.

Chinese citizens are limited on purchases of foreign currency, permitted to purchase a maximum amount of $50,000 worth per year.

$18 billion of the total $50 billion has been moved in Tethere’s USDT stablecoin.

πŸ‘‰ Polkadot Unhappy With Exchanges’ Early DOT Listing

Both the Polkadot team and community members are disgruntled following Binance and Kraken’s premature listing of their native curyptocurrency, DOT.

It appears that DOT was meant to go live on exchanges following its 100:1 split today, however due to the early listing, charts will infer a ~99% crash in price – which is not the case.

The move has caused confusion among traders and the community, with further troubles arising from Kraken’s own announcement of an early re-denomination.

πŸ‘‰ You Can Now Stake KAVA and DAI Tokens on Binance

Binance have launched their own DeFi staking program, which has kicked off with staking services for two tokens – KAVA and DAI.

DAI tokens staked through the service will earn interest via Compound, whereas KAVA will be staked via Binance’s validator node, plus airdrop rewards.