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Crypto market development positive – Filecoin is on the rise

There were some corrections on the crypto market on Friday (Trending Topics reported). However, the situation looks better on Monday (September 6th). Almost all of the top currencies have gained in value. Bitcoin has recorded a plus of three percent in the past 24 hours and is therefore worth over 43,000 euros with a capitalization of 822 billion euros. The big climber is currently the currency Filecoin, which is gradually recovering from a low in July. It achieved a whopping 25 percent increase on Monday.

Solana rise remains unchecked – Bitcoin is slipping again

The value of Filecoin is now around 100 euros and the capitalization is ten billion euros. In the past week that means an increase of almost 60 percent. The currency that was launched last year peaked at the beginning of April, at times over 160 euros. However, things went downhill after the market turmoil in May. At a low in mid-July, Filecoin was only worth 35 euros. According to CoinMarketCap, the recent rise is mainly due to the current NFT boom. The payment platform on which the currency is based, produced by Protocol Labs, has specialized heavily in digital tokens.

The Filecoin chart for the last seven days.  © CoinMarketCap
The Filecoin chart for the last seven days. © CoinMarketCap

Chainlink also experienced a strong rise with an increase of 13 percent. The value is now 29 euros with a capitalization of 13 billion euros. Last week, the increase was 35 percent. The situation for Bitcoin Cash also looks good. The currency has achieved a plus of ten percent. Here the value is now 660 euros with a capitalization of 12.3 billion euros. Meanwhile, Solana is still rising, if only by three percent. The value is 123 euros, the capitalization is 35 billion euros. On the market as a whole, capitalization continues to rise. It is now 1.978 trillion euros. On Friday it was 1.88 trillion euros.

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Uniswap in the sights of the US Securities and Exchange Commission

The decentralized crypto exchange Uniswap is facing an investigation by the US Securities and Exchange Commission. The subject of the inspection is, among other things, how investors use Uniswap and how Uniswap is marketed. In recent months and years, the authority has increasingly focused on crypto projects and companies. Companies such as BitConnect, or Poloniex have received heavy fines, and there have been lawsuits against Ripple (Trending Topics reported).

Uniswap: Decentralized Exchange is being investigated by the US Securities and Exchange Commission

Binance is withdrawing offers in Singapore

The world’s largest crypto exchange, Binance, continues to struggle with global regulators. Because of investigations by the authority in Singapore, it is now withdrawing a large part of its offers in the important market. As of September 9, residents will no longer be able to trade in cryptocurrencies or receive payments in Singapore dollars, writes Cointelegraph. The Binance mobile app is also being removed from the Apple and Google Play stores in Singapore.

London upgrade: more than 200,000 ETH burned

In early August, Ethereum finally received the long-awaited London upgrade. This upgrade includes a new fee scheme for transactions, which means that part of the newly created ETH is not distributed to miners, but destroyed. According to Decrypt, the amount of ETH burned has now exceeded the 200,000 mark. At the time of destruction, that’s roughly worth $ 675 million.

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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