Cryptocurrency Market News: Bitcoin considered ‘money’ under Washington, D.C., Money Transmitters Act, climbs to $9,600


Here is what you need to know on Saturday, July 25

BTC/USD is currently trading at $9,600 after a notable price boost thanks to good news coming from the U.S.

ETH/USD bull rally continues surprising and has taken the digital asset above $280, eying up the 2020-high at $288. 

XRP/USD remains flat but above $0.20. The resistance level located at $0.21 is still the most important in the short-term.

Seele-N is up 100% in the last 24 hours, an impressive price boost but with only $143,584 in trading volume. Voyager Token is the second gainer touching $0.12. VeThor Token also has experienced a significant value lift with a ton of trading volume.

Chart of the day: ETH/USD daily chart

ETHUSD

Market

The South Korean government just announced a 20% crypto tax aimed at income generated from cryptocurrency trading. According to the tax code, gains from cryptocurrencies are taxable income but only if it’s greater than 2.5 million won ($2,500). 

Industry

A new exchange aims to stabilize Dai’s unpredictable interest rates. Delta Exchange is a crypto derivatives platform that allows users to enter interest swaps on the Dai Savings Rate. 

Pankaj Balani, CEO and founder of Delta Exchange said, IRS is also for traders who do not have any exposure to these rates but just want to speculate on rates rising or falling over time.

ESPN Global aims to launch the future of e-sports gaming platform thanks to blockchain technology. ESPN has already integrated a game based on Blockchain named Satoshi’s Treasure and has promised $1 million divided into 1,000 fragments in prizes.

As per a research done by 3EA Limited, a global strategic management consulting group, e-sports and online gaming is a $140 billion global industry driven predominantly by digital micro-transaction economies, which we believe will benefit immensely from the integrity and resilience of the Blockchain technology, said Mr. Chris Parker, one of the Directors of ESPN Global

Quote of the day

Online identity and reputation will be decentralized. We will own the data that belongs to us.

– William Mougayar

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