Express Crypto News: 60-Second Recap, August 10th 2023

Express Crypto News: 60-Second Recap, August 10th 2023

Time Stamp: August 10, 2023 1:10 AM
Source Node: 2815326

Last week in crypto, the Bank of England’s base rate hike impacted the bitcoin stirling pairing, which has risen above the 25-day and 50-day moving averages. NFT Platform Nifty has closed down, and Israel’s only public stock exchange, the Tel Aviv Stock Exchange has signed an agreement with the digital asset platform Fireblocks to jointly offer a range of new digital asset products and services. 

The Litecoin halving event completed, with block rewards now halved to 6.25 litecoin per block. Litecoin is the 12th-largest cryptocurrency by market capitalization, and sometimes referred to as the silver to bitcoin’s gold. BitPay has reported that as of June, Litecoin surpassed Bitcoin as the crypto of choice for payments, accounting for 35% of transactions. 

Ethereum passed it’s 8th anniversary and the crypto community joined together to celebrate. On July 30th 2015, one of Ethereum’s Founders published a blog post, officially announcing that the network had been rolled out sharing “The vision of a censorship-proof ‘world computer’ that anyone can program, paying exclusively for what they use and nothing more, is now a reality.’ Here at Blockchain.com we gave the equivalent to $5 bonus to all our ETH buyers. 

CoinTelegraph has reported that the adoption of blockchain technology is gaining momentum among farmers in Africa as it offers various benefits to agricultural practices. Blockchain helps to increase transparency and traceability in the supply chain, ensuring fairer prices for farmers' produce and reducing food fraud. Additionally, it enables better access to financial services for small-scale farmers, who often face challenges in obtaining loans due to lack of credit history. By digitizing and recording farming data, blockchain also enhances productivity and efficiency, leading to improved yields. The technology's potential to transform agriculture is drawing interest and investment in the region, supporting sustainable development and poverty reduction efforts.

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