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Bitcoin News Roundup for Aug. 19, 2020
With bitcoin pulling back from its bull run and the emergence of YAM-inspired “Spaghetti Money,” CoinDesk's Markets Daily is back for your latest crypto news roundup!
Updated Sep 14, 2021, 9:45 a.m. Published Aug 19, 2020, 4:00 p.m.
With bitcoin pulling back from its bull run and the emergence of YAM-inspired “Spaghetti Money,” 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's Bull Run is Slowing – Pullback Now Expected
Some analysts are now predicting further price corrections after bitcoin fell back below the $12,000 milestone on Tuesday.
First Mover: Money Legos Turn 'Exuberant' as Chainlink Stripped of 'DeFi'
This year's growth in the cryptocurrency subsector DeFi has been so remarkable that some analysts are now calling the phenomenon "exuberant."
UK Regulator Grants License to Digital Security Exchange Archax
The U.K. watchdog has granted several licenses to Archax that will allow it to become a "one-stop shop" for the digital security space.
Binance-Owned WazirX Announces DeFi Project With Matic
The Mumbai exchange has opted for Matic instead of Ethereum’s network, which is currently dominating the DeFi space because of "high gas costs."
$200M Staked in YAM-Inspired DeFi Protocol in Under 12 Hours
The DeFi craze continues as investors stake $200 million in a new yield farming protocol that's not even 12 hours old yet.
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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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Bitcoin's bearish turn deepens as 75 out of top 100 coins trade below key averages; Nasdaq resilient
Crypto's bear grip squeezes tighter as 75 of top 100 coins trade below 50- and 200-day SMAs.
What to know:
- 75 of the top 100 coins trade below their 50-day and 200-day simple moving averages.
- Major cryptocurrencies like bitcoin, ether, and solana are underperforming the key averages, denting risk sentiment.
- Only eight of the top 100 coins are considered oversold, indicating that most coins may still have room to fall further.
