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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.
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).
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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Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
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