August Digest from HitBTC
Our industry experts have prepared a short digest outlining the main news of the crypto market and the latest updates that have taken place on the HitBTC platform!
Cryptocurrency Market:
The beginning of August showed the growth of the main cryptocurrencies, but then they resumed falling.
BTC price on August 31st was $20 259 and showed a 13,88% drop from $23 456 on August 1st.
ETH price showed a smaller drop than BTC. The price of Ethereum, the second largest cryptocurrency by market cap, fell from $1 700 on August 1st to $1 584 on August 31st, or 7,33%.
The best performing altcoins in were:
Toncoin (TONCOIN) has risen from $0.95 to $1.50 after Pavel Durov's statement about the possible launch of the marketplace in the messenger.
Chiliz (CHZ) has increased from $0.14 to $0,21 after announcing an extension of the cooperation with the Argentine Football Association until 2026.
What is new on HitBTC:
- In August, we burned a total of 25,674,890 HIT tokens (about 3.7 million USDT). Transaction Link
- We have added new assets for Staking - CVX, STETH, EMC, MINA, SMART, HYDRA, and AXS with APY up to 40%.
- We have added more tokens and trading pairs to our Margin Trading feature:
Now you can access x5 leverage on EGLD/BTC, EGLD/USDT,CELR/BTC, CELR/USDT, RVN/BTC, ARPA/BTC, ARPA/USDT, ROSE/BTC, ROSE/USDT, GRT/BTC, GRT/USDT, JASMY/BTC, JASMY/USDT, RSR/BTC, RSR/USDT, GMT/BTC, GMT/ETH, GMT/USDT, MINA/BTC, MINA/USDT, ICP/BTC, ICP/USDT, ENS/BTC, ENS/USDT.
- We have added an option to deposit and withdraw USDT, BUSD and USDC stablecoins on the following networks:
- Tether (USDT) is now available on Solana. (USDT) is a stablecoin that mirrors the price of the U.S. dollar and was issued by the Hong Kong company Tether. Pegging the token to the USD is achieved by maintaining the amount of commercial paper, fiduciary deposits, cash, reserve repo notes, and treasury bills in reserves, which in USD value is equal to the number of USDT in circulation.
- USD Coin (USDC) - on Binance Smart Chain (BSC) and Solana. (USDC) is a stablecoin pegged to the U.S. dollar at a 1:1 ratio. Every unit of this cryptocurrency in circulation is backed by $1 that is held in reserve in a mix of cash and short-term US Treasury bonds.
- Binance USD (BUSD) - on Binance Chain (BNB). (BUSD) is a 1:1 USD-backed stablecoin issued by Binance (in partnership with Paxos), approved and regulated by the New York State Department of Financial Services (NYDFS).
New listings on HitBTC:
- Wallex Token (WLXT) is a utility token, part of the Wallex v.3 ecosystem, that allows its users to enjoy the benefits that Wallex provides.
Сrypto wallet App
The HitBTC crypto wallet is a free and simple solution for beginners.
Fees and Limits update
We have recently updated our fees and limits. For the latest updates, please visit the fees and limits section on our website here.
HitBTC Mobile App
Don’t forget that you can trade on our platform from your mobile device. Start today by downloading the HitBTC App on Android and iOS.