Brand new TradeSanta’s weekly digest is here. Here’s everything you need to know about cryptocurrency and blockchain markets activities:

  • Brazilian government released new requirements for cryptocurrency users;

  • Walmart plans to patent a way to use cryptocurrency tied to fiat money;
  • The Monetary Authority of Singapore has sent out a warning of new BTC scam.

Cryptocurrency Market Stats

Market capitalization rocketed to 291 billion USD, and gained 10% over the last 7 days. Check out this table below and keep up with a fast moving market at a glance:

StatValue (7d change)
Market Cap$ 291 782 677 162 (+10.24%)
Markets19 684 (+0.53%)
Cryptocurrencies2 419 (+1.17%)
BTC Dominance67.7% (+3.2%)

Major Coins’ Price Stats

According to the Coinmarketcap data, cryptocurrencies increased their values during the last week. Bitcoin boosted by 14%, XRP gained 2%, and Ethereum 5%. Here are the results:

 Coin Close 7d Gains 7d High 7d Low
 Bitcoin$10 970.18+14.83%$11 788.92$9 437.34
 XRP$0.319842+2.41%$0.331414$0.307865
 Ethereum$222.67+5.43%$235.64$206.87

Quote of the Week:

Jack Dorsey, founder of Twitter and Square: “We love you, Bitcoin.”

In Case You Missed It:

  • Starting on Thursday, August 1, Brazilian government passed a new law, requiring every citizen to declare transactions made in crypto. According to Cointelegraph Brazil, cryptocurrency transactions, including buying/selling and donations/withdrawal and etc, must be reported to the Brazilian Internal Revenue Service. The new measure applies to cryptocurrency hodlers, companies and brokerages.
  • American giant company Walmart plans to join cryptocurrency industry. According to the report from Bloomberg, the company will patent a way to use a digital coin tied to a traditional fiat currency. This system will reduce the price and provide quick transactions, also, implementing crypto will help to widen the range of loyalty options.
  • The Monetary Authority of Singapore warned cryptocurrency users on new BTC scam. A fraudulent website offers Bitcoin investment using falsified claims by Emeritus Senior Minister Goh Chok Tong. “The site asks readers to make a minimum initial deposit of $250 into a purported trading platform, Bitcoin Loophole, which would automatically initiate trades on one’s behalf. It also requests for credit card or bank account details.” — mentioned in this report. The authority also published a screenshot which shows these fraudulent statements.

That’s all for now. We hope that our digest will be helpful for you. Don’t forget to subscribe, and stay tuned for new blogposts from TradeSanta team!