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Bitcoin News Roundup for Aug. 17, 2020
With bitcoin’s hashrate reaching record highs and litecoin hoping to Mimblewimble its way into new users' wallets, CoinDesk's Markets Daily is back with your latest crypto news roundup!
Updated Sep 14, 2021, 9:44 a.m. Published Aug 17, 2020, 4:00 p.m.
With bitcoin’s hashrate reaching record highs and litecoin hoping to Mimblewimble its way into new users' wallets, CoinDesk's Markets Daily is back with your latest crypto news roundup!
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This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.
Today's stories:
Litecoin Gets Bullish Speculation, at Last, as Upgrade Approaches
"The upcoming privacy upgrade would leave litecoin valuations around all time highs," one industry analyst said.
Bitcoin Price Holds Below $12K Even as Hashrate Hits All-Time High
Bitcoin's hashrate has soared to record highs, some analysts say it might kick the price out of its rut.
Crypto Long & Short: The Surprisingly Sunny Outlook for Crypto Hedge Funds
Bitcoin returns are beating crypto hedge funds, but other recent developments point to more favorable tailwinds for those funds in the long term.
Ex-Prudential Securities CEO Calls Bitcoin a 'Safe Haven'
George Ball, who claimed to be a Bitcoin and blockchain opponent, said bitcoin or other cryptocurrencies are “very attractive” both in the long term and short term.
For early access before our regular noon Eastern time releases , subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica or RSS.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Bitcoin trades near key price safety net that Strategy already breached
The safety net is the 100-week average, which has stalled the downtrend.
What to know:
- Bitcoin trades near a critical 100-week simple moving average, a key support level for bulls.
- Strategy shares have already fallen below this average, signaling potential bearish trends for bitcoin.
- Bulls must defend this support to prevent further declines similar to Strategy's recent losses.
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