CryptoCodex: Ethereum Rival Solana And Dogecoin Are Suddenly Soaring, Walmart Is Shopping For A Bitcoin And Crypto Lead, And Biden’s CFTC Chair Pick
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The summer sizzle
As the weather's heated up, so has the cryptocurrency market. The combined value of the 11,000 cryptocurrencies listed on CoinMarketCap has climbed further over $2 trillion during the weekend with some major coins making huge moves.
But bitcoin isn't one of them, with the world's largest cryptocurrency failing to make a break above $50,000 over the last couple of days. $50k is very much still in play, however, with some traders and investors eyeing even bigger prizes.
Ethereum has continued to run victory laps since its early-August upgrade, with its price now firmly above $3,000. Ethereum's biggest rivals are though painting a mixed picture, with cardano and Binance's BNB making low single-digit percentage gains. Meanwhile, polkadot, up 10%, pales in comparison to solana's near-40% rally over the last 24 hours that's pushed it into the crypto top ten by value, as measured by CoinGecko.
Solana, a blockchain trying to win market share from ethereum, has close links with the FTX crypto exchange—FTX's sister company Alameda Research is an investor in solana, and FTX also operates its own decentralized exchange called Serum on the solana blockchain.
Now watch this: FTX chief executive Sam Bankman-Fried (who has donated $450,000 to a nonprofit that supports bitcoin developers) on what can we expect from the crypto market
Elsewhere, the meme-based dogecoin has climbed over 10% during the last 24-hour period as traders cheer support from billionaires-turned-crypto influencers Mark Cuban and Elon Musk—both of whom reaffirmed their support of the memecoin over the weekend.
Good to know: Cybercriminals have built their own blockchain analytics tool
Walmart shops for a crypto hire
Same-day delivery: After news broke in July that online "everything store" Amazon was in the market for a crypto hire led to a confused market pump, we may see something similar again this week.
LinkedIn leak: Walmart, the backbone of U.S. retail, is now shopping for a cryptocurrency product lead, according to a job ad posted to LinkedIn on Sunday. The news was first reported by The Block.
Move fast: The ad has already attracted over 65 applicants, according to LinkedIn.
Break things: The successful candidate "will be responsible for developing the digital currency strategy and product roadmap," the ad said. "As an expert in digital currencies/cryptocurrency and blockchain-related technologies, you will drive the vision for the product and capabilities roadmap."
Other appointments: Twitter's decentralized social network project, Bluesky, will name a lead this week, according to Twitter CEO Jack Dorsey.
Biden's looming CFTC chair pick
Now read this: CFTC commissioner Rostin Behnam on regulating crypto futures and derivatives (2019)Source