🌟 This Week in Crypto - August 9th, 2024
🔍 Metaplanet’s Bitcoin Accumulation:
- 📈 Asian Giant: Metaplanet, the new heavyweight in Asia, has already acquired 203.7 BTC as of July.
- 💰 Expansion Plans: They’ve secured a $6.8M loan to continue buying more Bitcoin, signaling their bullish stance on the crypto market.
💼 Bitcoin on the Move:
- 📊 HODLer Activity: Over the past 30 days, around $22.8 billion worth of Bitcoin (404,448 BTC) has shifted to permanent holder addresses, according to CryptoQuant.
- 🏦 Long-Term Confidence: This trend highlights growing confidence among long-term investors, possibly indicating a positive outlook on Bitcoin’s future price.
🇷🇺 Russia’s New Crypto Mining Law:
- 🏗️ Regulatory Move: A new law in Russia will come into effect in November 2024, allowing crypto mining firms to officially register through a state database.
- ⚡ Mining Surge: This could lead to a boom in crypto mining activities, positioning Russia as a major hub in the global crypto mining industry.
🌍 Valour’s Expansion into Africa:
- 🤝 Strategic Partnership: Valour, a leading crypto ETP issuer, has signed an MOU with the Nairobi Securities Exchange (NSE) and SovFi.
- 📈 African Market: This collaboration aims to introduce digital asset ETPs on the NSE, potentially expanding crypto investment opportunities in Kenya and beyond.
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