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Bitcoin News Roundup for Aug. 13, 2020
With the price of BTC bouncing and ETH miners on the rise, CoinDesk's Markets Daily is back for your news roundup!
Updated Sep 14, 2021, 9:43 a.m. Published Aug 13, 2020, 4:12 p.m.
With the price of BTC bouncing and ETH miners on the rise, CoinDesk's Markets Daily is back for your news roundup!
STORY CONTINUES BELOW
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This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.
Today's Stories:
Bitcoin Recovers From $11.3K Despite Losses in European Stocks
Bitcoin has shrugged off a drop to $11,300 for the third day running, possibly buoyed by gold's recovery on Wednesday.
Daily Profitability for Ethereum Miners Hits Over 2-Year High
The surge in profitability comes after rises in transaction fees and prices of the ether cryptocurrency.
Coinbase to Offer Bitcoin-Backed Loans to US Customers
Coinbase will allow U.S. retail customers to borrow fiat loans against as much as 30% of their bitcoin holdings starting in the fall.
YAM's Market Cap Falls From $60M to Zero in 35 Minutes
YAM’s market cap fell to zero just minutes after the co-founder pronounced the yield farming project dead. A rescue plan is now in the cards.
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- 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’s Deep Correction Sets Stage for December Rebound, Says K33 Research
K33 Research says market fear is outweighing fundamentals as bitcoin nears key levels. December could offer an entry point for bold investors.
What to know:
- K33 Research says bitcoin’s steep correction shows signs of bottoming, with December potentially marking a turning point.
- The firm has argued that the market is overreacting to long-term risks while ignoring near-term signals of strength, like low leverage and solid support levels.
- With likely policy shifts ahead and cautious positioning in futures, K33 sees more upside potential than risk of another major collapse.
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