Altcoin

Popular cryptocurrency exchange FTX’s own FTT token stood out as the clear winner among exchange tokens today, after a significant run-up over the past 24 hours that pushed it to a new all-time high. The bull-run for the token comes after the US-based branch of the exchange on Tuesday announced its acquisition of the competing crypto derivatives exchange LedgerX.

August ended up as another great month for crypto investors, with nearly all of the top 100 coins by market capitalization in the green. Over the course of August, however, market participants have increasingly turned their focus away from BTC and over to the world of decentralized finance (DeFi) and non-fungible tokens (NFTs).

Some of China’s biggest commercial banks are looking to pilot digital yuan use cases for funds and insurance-related products – in a major move away from the core functions of the pilot thus far.

Crypto market sentiment had managed to re-enter the positive zone last week - but did not manage to stay there, according to the data provided by market sentiment analysis service Omenics.

After another eventful week in the crypto markets, during which we've seen major rallies as well as major drops, it’s time for a summary of what went well, and what went less well in terms of price performance.

Bitcoin price extended its decline below USD 47,000. Ethereum could test the USD 3,000 support, XRP retested the USD 1.05 support. SOL rallied 15% and it broke the USD 80 level.

Binance coin (BNB) stands among the best performers today. This follows the UK’s financial regulator update that crypto exchange Binance has complied with “all aspects of the requirements” put forward by the regulator, possibly paving the way for the exchange’s potential future comeback to the regulated market in the UK.

The Avalanche network’s native token AVAX dropped sharply in a mostly red crypto market today, following a surge earlier this week fuelled by news that a liquidity mining incentive program has brought major integrations to the platform.

The tether (USDT) that was frozen by its issuer Tether during the recent Poly Network hack have been returned to their rightful owners, Tether announced. However, this has raised concerns that this particular part of the cryptocurrency space is not as decentralized as it claims to be.

Bitcoin price tested USD 47,200 before recovering above USD 48,000. Ethereum is facing resistance near USD 3,200, XRP is still well below USD 1.20. REV rallied 20%, and XTZ is up over 12%.