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Bitcoin News Roundup for Aug. 5, 2020
With BTC pushing towards $12,000 and gold at record highs, CoinDesk's Markets Daily is back for your crypto news roundup!
Updated Sep 14, 2021, 9:40 a.m. Published Aug 5, 2020, 4:00 p.m.
With BTC pushing towards $12,000 and gold at record highs, CoinDesk's Markets Daily is back for your crypto news roundup!
STORY CONTINUES BELOW
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This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.
Today's Stories:
Bitcoin Price Rises 3% as Gold Trades Above $2K for First Time
Bitcoin is again acting like a macro asset, drawing bids amid record rally in gold and broad-based U.S. dollar sell-off.
Square Reports 600% Increase in Quarterly Bitcoin Revenue
Jack Dorsey's Square has seen one of the largest quarterly increases yet for its bitcoin business.
Square Crypto, Human Rights Foundation Ramp Up Bitcoin Development Grants
Square Crypto and the Human Rights Foundation are continuing their support for an open-source Bitcoin developer community with new contributor grants.
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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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Crypto Trading Volumes Deteriorated Across Board Last Month as Market Slumped: JPMorgan
Bitcoin, ether and most majors fell last month as spot, derivatives and stablecoin volumes dropped and U.S. crypto ETPs saw heavy outflows.
What to know:
- Spot, stablecoin, DeFi and NFT volumes slumped around 20% month-on-month in November as volatility and selling froze trading activity, according to JPMorgan.
- U.S. bitcoin spot ETFs saw $3.4 billion in net outflows and ether ETPs had their worst month on record, the report said.
- Total crypto market cap fell 17% last month to $3 trillion, with bitcoin down 17% and ether down 22%.
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