Daily Crypto NewsEDITION #23, 11 September 2020

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Hey #Moni Maker 👌

Today, in 1609, English explorer Henry Hudson discovered the island of Manhattan. Manhattan later became one of the world trade centers, and after almost 400 years on September 11, the towers of the World Trade Center were attacked by terrorists, which served as a trigger for one of the world's biggest economic crises. The centralization of financial activity leads to the fragility of the world economy, and modern innovations, such as cryptocurrencies and decentralized finance are working to fix this problem.

Watching the development of cryptocurrencies is vital; we are almost 100% sure that they will change the world.

Changpeng Zhao spoke at the "The World of DeFi" summit and announced that Binance will allocate $100 million to try to attract developers to use the Binance Smart Chain.

Successful projects will be able to receive up to $100,000 in funding. If they undergo a security audit and due diligence process, their tokens will be provided with liquidity and listed on the Binance Exchange.

So what?

Previously people dreamed of getting on MTV, soon people will dream of getting on Binance.

Changpeng Zhao has tweeted about the importance of DeFi projects, noticing that they need the support of CeFi projects like Binance to develop them.

Such people won’t rush into dubious things, so you can keep calm. DeFI is OK!

Web traffic of the cryptocurrency exchanges in August increased by 30.5% compared to July, which is the highest indicator since June 2019. A total of 144.3 million visits to website were recorded throughout the month.

So what?

Because of coronavirus people suffered massive panic attacks due to an expected inflation of traditional money. We can even say that this pandemic made a positive impact on the cryptocurrency.

In contrast to 2017, citizens now don’t see crypto as “fast money”, but as a real alternative to the annoying modern economic system.

According to Swiss Info, the Swiss parliament has approved legislative amendments that will establish a legal framework for crypto trading and regulatory principles in this area as a supplement to securities laws. The "Blockchain Law" is expected to enter into force in early 2021.

The amendments will establish principles for cryptocurrency exchanges, define procedures of the return of cryptocurrency and new standards for crypto trading in the context of the fight against money laundering. To this end, several existing laws, such as those on bankruptcy of companies and securities trading, have been amended.

It is estimated that over 900 companies and 4,700 people are currently employed in the Swiss crypto and blockchain industry.

So what?

Regulation by governments isn’t always bad. In this case, such culbits from the authorities will attract new users.

Recent news about the possibility to pay taxes with crypto report that Switzerland has tightly embraced the mass adoption.

God Bless Switzerland!

DappRadar’s report says that the Ethereum network’s activity broke the records this August. The volume of on-chain transactions exceeded $24 billion.

The activity of Ethereum users has almost doubled compared to July. The main reason for the growth in transaction volume was the expansion of the decentralized finance (DeFi) market.

So what?

Previously, it was said that ETH is underestimated. Soon people will say that it is overrated. Okay, let's leave it to the forum nerds.

ETH has shown us that it is possible to outplay Bitcoin in some areas. Who’s next?

According to Bloomberg analysts, companies included in the Blockchain Global Equity Index (BLOCK) from Elwood Asset Management LLP have shown an overall growth of 54% over the last year, even despite the fall of the markets, which particularly hit the shares of technological companies.

According to the Blockchain Global Equity Index, the developing direction of the Blockchain companies has grown by 54% over the last year. The best performance was demonstrated by TSMC, Kakao Corp. and Monex Group Inc.

So what?

The future is right next to you, take it out for a coffee or something;)

It feels like one of the characteristics of the 5th technological revolution will be the mass transition of companies to blockchain.

Well, time will tell.

— Loopring (LRC) will be listed on Coinbase Pro.