BitDigest August 13 · Issue #720
Aug 13, 2020
Author
- Crypto prices flat, but bitcoin dominance falls below 60%
- Venezuela has approved the payment of taxes with the oil-backed petro
- Coinbase will begin lending customers cash collateralized by bitcoin
Weekly Stock Review
Highlights from the North American listed crypto, blockchain and mining stocks:
- Grayscale Digital Large Cap Fund (OTCQX: GDLC) was the top performing stock in the blockchain and crypto universe, posting a 7.4% return, and the only company that achieved a positive return on the week.
- Marathon Patent Group (NASDAQ: MARA) and Riot Blockchain (NASDAQ: RIOT) both started the week achieving all-time-highs before beginning a gradual decline in price.
- Hut8 Mining (TSX: HUT.TO) announced various operational updates last night including the receipt of 2,000 BTC miners from MicroBT, the signing of its first client for hosting at its Medicine Hat, Alberta facility, and the transfer of Bitfury Clark chips from Drumheller, Alberta to Medicine Hat.
- Grayscale Bitcoin Trust (OTCQX: GBTC) saw a 32% decline in average volume compared to the previous week.
- Grayscale Ethereum Trust (OTCQX: ETHE) and Ethereum Classic Trust (OTCQX: ETCG) were the bottom performers on the week at -31% and -23.8% respectively, and the price to NAV for both tickers declined by approximately 40%. Earlier in the week, ETHE filed a voluntary registration statement with the SEC to register its shares under the 1934 Exchange Act and become a SEC reporting company.
- For the 7-day period bitcoin (BTC) returned -1.4%.