Global

The cryptocurrency market faced significant turbulence as it plunged to its lowest levels in over five months, mirroring broader economic anxieties stemming from Japan's stock market turmoil following a recent rate hike by its central bank.

Senator Cynthia Lummis has introduced a groundbreaking legislative initiative known as the Strategic Bitcoin Reserve bill to the US Congress, signaling a pivotal moment for both the cryptocurrency market and US economic policy.

According to a recent report from on-chain analyst EmberCN, a significant downturn in Ethereum (ETH) prices has triggered a series of liquidations among leveraged ETH whales.

Recently, the Blast stablecoin USDB has shown resilience in recovering to $0.9904 following a period of peg instability. Currently trading around $0.9838, USDB has regained its footing, positioning itself as the twelfth-largest U.S. dollar stablecoin by market capitalization.

On August 5th, the cryptocurrency market witnessed a dramatic downturn as Bitcoin (BTC) plummeted to as low as $52,500, marking a steep 10% drop from its recent high of $58,350 in just under two hours.

The Russian Senate has passed a landmark bill on cryptocurrency mining, paving the way for it to become law pending President Vladimir Putin's signature.