CoinMarketCap Daily, August 2: Square Users Go Bananas for Bitcoin
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CoinMarketCap Daily, August 2: Square Users Go Bananas for Bitcoin

1 year ago

Today, CryptoPunk prices are going through the roof, while Ethereum is seeing some new (old) heights.

CoinMarketCap Daily, August 2: Square Users Go Bananas for Bitcoin

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Square Users Spent Almost $3B on Bitcoin 🤑

Digital payments company Square released its Q2 earnings report for its Cash App — and it turns out that its customers are definitely hungry for Bitcoin. In Q2 2021, Cash App users spent $2.72 billion worth of Bitcoin, which is three times up year-over-year. Even with this multi-billion revenue, Square did only see $55 million in profit — let’s see what happens to Square’s revenue if the bull market returns in full. Check out more here.

CryptoPunk Listed for $90.5M 🤯

A rare CryptoPunk has been listed for sale — for a cool $90.5 million. CryptoPunk 3100 depicts an alien with a headband (clearly worth almost $100 million then, right?!), and was purchased for about $7.6 million in March from its previous owner, making its new listing price more than 10 times its last sale price. While no one has accepted this astronomical offer as of press time, it’s clear that appetites for CryptoPunks are running high — an anonymous investor spent $5.5 million on 88 CryptoPunks yesterday….Read more here.

Ethereum Going Up? 🌝

The second-largest cryptocurrency reached over $2,600 yesterday, a place it hasn’t been since early June. With the London hard fork coming up this week, all eyes are on Ethereum to see how the coin reacts to a series of new changes coming to its network. Find out what to expect on August 5 when the London hard fork takes place.
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