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Bitcoin News Roundup for Aug. 20, 2020
With bitcoin taking a back seat to the DeFi boom and data platforms aiming for the moon, CoinDesk's Markets Daily is back for your latest crypto news roundup!
Updated Sep 14, 2021, 9:46 a.m. Published Aug 20, 2020, 4:00 p.m.
With bitcoin taking a back seat to the DeFi boom and data platforms aiming for the moon, CoinDesk's Markets Daily is back for your latest crypto news roundup!
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This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.
Today's stories:
Bitcoin Risks Deeper Drop if Dollar Rebounds
Bitcoin's price could pull back even further should the dollar stage a full-blown recovery on the back of the latest Federal Reserve meeting.
OMG Price Doubles as DeFi and Record Ethereum Fees Create ‘Perfect Storm’
OMG has more than doubled in the past seven days as record Ethereum fees lead investors to look more closely at layer 2 solutions.
Russia's New Blockchain Elections Remain Centralized
There will be two blockchain voting pilots for Russia's off-year election next month.
TechCrunch: Moon lander startup ispace raises $28 million and launches a new lunar data platform
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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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