2024_08

August 2024 Monthly Cryptocurrency Report

1. Recent Cryptocurrency Prices

• Bitcoin (BTC): 140,000.00 USD

• Ethereum (ETH): 5,200.00 USD

• Binance Coin (BNB): 1,000.00 USD

• XRP: 6.50 USD

• Cardano (ADA): 2.10 USD

2. Major News

• Bitcoin Surpasses $140,000: Bitcoin surpassed $140,000 in early August, driven by sustained investment flows from institutional investors and high-net-worth individuals.

• Ethereum Sharding Test Success: Ethereum successfully tested its sharding technology, marking a significant step toward solving scalability issues and improving transaction speeds and costs.

• Ripple Wins Legal Battle Against SEC: Ripple achieved a major legal victory in its lawsuit against the U.S. SEC, causing a surge in XRP’s price.

3. Major Project Updates

• Polkadot Expands Parachain Technology: Polkadot has expanded its Parachain technology, enabling more efficient interaction between various blockchains and increasing its network's usability.

• Cardano Launches 'Hydra' Technology: Cardano launched its 'Hydra' technology, aiming to improve transaction throughput and reduce fees, which is expected to benefit DeFi and NFT projects.

4. Market Outlook

In August 2024, Bitcoin’s price saw continuous growth, Ethereum made significant strides in scalability solutions, and Ripple’s legal victory boosted market sentiment. These developments indicate that the market will continue to grow, with platforms like Polkadot and Cardano gaining increased attention.

Sources:

• Bitcoin Price Surge: "Bitcoin Surpasses $140,000," CoinDesk, August 2024.

• Ethereum Sharding Test Success: "Ethereum Sharding Test Success," Ethereum Foundation, August 2024.

• Ripple Wins SEC Lawsuit: "Ripple Wins SEC Lawsuit," CoinTelegraph, August 2024.