2024

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Aug 27, 2024 #Shorts

BREAKING NEWS

08/27/2024: The Hottest Short Crypto News in 60 Seconds

Crypto Market in Turmoil as Bitcoin Crashes Below $20,000

The cryptocurrency market is experiencing a significant downturn, with Bitcoin plummeting below the $20,000 mark for the first time since 2021. The sudden drop has left investors reeling, with many experts citing a combination of factors, including increased regulatory scrutiny and a decrease in institutional investment.

Dogecoin Soars 30% in 24 Hours, Sparking Fresh Speculation

In a surprise turn of events, Dogecoin has surged by 30% in the past 24 hours, sending shockwaves through the crypto community. The sudden price hike has left many wondering if the meme-based token is finally gaining mainstream acceptance.

Ethereum Classic (ETC) Reaches New All-Time High, Outpacing ETH

Ethereum Classic (ETC) has reached a new all-time high, with its price surging to over $1,200. The surge has led many to speculate that ETC may be poised to overtake its more popular counterpart, Ethereum (ETH).

Tether (USDT) Pegs Slip, Fueling Concerns of Stablecoin Contagion

Tether (USDT), the largest stablecoin, has seen its peg slip, sparking concerns of a potential contagion effect on other stablecoins. The sudden drop has left investors wondering if the entire stablecoin market is at risk.

Binance Faces Backlash Over Recent Hacking Incident

Binance, one of the world’s largest cryptocurrency exchanges, is facing backlash over a recent hacking incident that saw millions of dollars in crypto stolen. The incident has raised concerns over the exchange’s security measures and has led to calls for greater regulation.

Regulatory Updates

The SEC has announced plans to launch a new crypto-focused division, aimed at improving oversight and regulation of the industry.
The European Union has proposed new regulations aimed at curbing the use of cryptocurrencies for illegal activities.

Market Update

Bitcoin: $19,500 (-10%)
Ethereum: $1,300 (-5%)
Dogecoin: $0.20 (+30%)
Ethereum Classic: $1,200 (+20%)
Tether: $1.00 (-5%)

What’s Trending

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The market cap of dollar-pegged stablecoin PayPal USD exceeded $1 billion. PYUSD was issued by PayPal in September 2023. In comparison, the capitalization of USDT and USDC, the two largest dollar-pegged stablecoins, exceeds $118 billion and $34 billion, respectively.
Daily active users on L2 network Base surpassed 1 million, with over 60% growth in active users since early August, according to Dune Analytics. The strong growth comes amid the Onchain Summer event and the launch of protocol Basenames.
Argentina’s Ministry of Education, together with ETH Kipu, included Ethereum in Buenos Aires’ high school curriculum. Educational institutions are also launching an internship program to give students hands-on experience in blockchain.

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