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Bitcoin News Roundup for Aug. 3, 2020
After a flash-crashy weekend, CoinDesk's Markets Daily is back with your quick daily update.
Updated Sep 14, 2021, 9:39 a.m. Published Aug 3, 2020, 4:00 p.m.
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After a flash-crashy weekend, CoinDesk's Markets Daily is back with your quick daily update.
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This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.
Today's Bitcoin News:
Bitcoin Investors Unshaken By Sunday's Flash Crash, Data Suggests
Bitcoin investors look to have shrugged off Sunday’s sudden $1,400 price crash.
First Mover: July Was a Runaway Month for Crypto Returns
Crypto traders didn't have to be choosy to make money in July, when every digital asset in the CoinDesk 20 rose (except, of course, for the stablecoins).
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Bitcoin stuck near $88,000 as gold's and silver's record-breaking rallies show exhaustion signs
"Gold and silver casually adding an entire bitcoin market cap in a single day," wrote one crypto analyst.
What to know:
- Bitcoin is off its worst levels of the weekend, but still near the year's low at $87,700.
- Facing the same news cycle as crypto, precious metals continued to surge higher, but a quick retreat from their highs on Monday suggested a bit of exhaustion was setting in.
- Analysts remain dour on the outlook for crypto prices given the looming government shutdown as well as delays in passage of the Clarity Act.
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