Google Cloud is building a blockchain, BTC idles, and Ethereum up again
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📈 Ethereum ETFs - drew $444M in inflows on Monday, more than double Bitcoin ETFs.
🚀 Solana jumped - 6% overnight and 11% over 7 days, outpacing peers.
🏦 Adam Back’s BSTR to list on Nasdaq - with 30,000+ BTC.
☁️ Google Cloud is building - it’s own blockchain for finance.
There’s been a slight uptick in risk-on markets, with green daily candles across both US stocks and crypto. Bitcoin (BTC) is marginally in the green and mostly sideways overnight, while Ethereum (ETH) has recouped more than 3% of yesterday’s losses. Among the top 10 in market cap, Solana (SOL) has shown strength, gaining over 6% overnight and 11% over seven days. Several smaller-cap altcoins also posted strong moves, and with Bitcoin flat over the past week, “altcoin season” evangelists may be watching closely. Adding weight to that view, Ethereum ETFs saw $444 million in daily inflows on Monday, more than double Bitcoin ETF inflows, according to The Block.
On the institutional side, Adam Back’s company, Bitcoin Standard Treasury Company (BSTR), is preparing to list on the Nasdaq with over 30,000 BTC on its balance sheet, with 25,000 BTC contributed by Back himself. The company is also raising up to $1.5 billion through a private placement, both in fiat and Bitcoin, positioning it to become the fourth-largest publicly traded bitcoin holder, with ambitions to exceed 50,000 BTC. Meanwhile, Google Cloud is launching its own blockchain for the financial sector, Google Cloud Universal Ledger (GCUL). “Besides bringing to bear Google’s distribution, GCUL is a neutral infrastructure layer,” said Rich Widmann, Google Cloud’s Web3 Head of Strategy. Interesting times.
In the markets…
🌍 Total crypto market cap ↗️
The global crypto market cap is approximately $3.85 trillion, up 1.42% over the past 24 hours.
🟠 Bitcoin (BTC) ↗️
Price: $110,729 up 0.43% in the last 24 h.
Daily high: $112,279
Daily low: $109,526
📈 S&P 500 ↗️
SPY is currently up about 0.41% since yesterday’s close.
📈 Nasdaq 100 ↗️
The Nasdaq 100 is up about 0.43% overnight.
😐 Fear & Greed Index
The Crypto Fear & Greed Index stands at 47/100, in Neutral.
📊 Bitcoin Relative Strength Index (RSI) (14)
The 14-day RSI for BTC is approximately 45, sitting in neutral
Data is correct as at 27 August, 08:14 GMT.
Cautionary Notes
It's definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.
