Almost all cryptocurrency markets rallied last August, but data showed fluctuating earnings in real estate.

The Zhitong Financial APP reported last week that Bitcoin hit the $50,000 mark for the second time in two weeks, extending its after-hours gains that began in May.

Bitcoin has always been in the spotlight for its volatility, but the biggest cryptocurrency rally doesn't seem to be gaining traction among the asset class surges.

Ethereum's exponential growth "steals the show"

Ethereum, the second-largest cryptocurrency by market cap, surged from $2,700 to $3,900 last month as the most financially unreliable and non-fungible token (NFT) emerging market on the Ethereum blockchain. At the time of the press release, Ethereum was listing $3,925.95 each.

Other blockchain-based results like Cardano, the third-largest cryptocurrency, more than doubled last month, while new cryptocurrency Solana more than tripled last month. Cardano and Solana have been rising nearly all the time almost daily for the past two weeks.

And according to the Bitcoin IRA, the company that provided the pension plans for Bitcoin, the company also saw an "all-time high" inflow into the new currency last month.

Chris Kline, COO of the company, said: "There was some data entry in the first quarter before Bitcoin went from $45,000 to $65,000. Today we saw the same thing happen again. “Last month (August) was the same, but about twice. April pruning.

Currently, Bitcoin IRA has around 120,000 active users and around $2 billion in assets. When the platform is not yet strong enough to shake the market, the rise of new funds opened by investors (especially the IRA tax deduction) encourages investors to look for other ways to engage in business. .

Based on rough estimates for each account, Kline says users hold 43% of their Bitcoin data, 27% of their Ethereum data, and another 30% in other cryptocurrencies. In total, the company offers 10 different cryptocurrencies and plans to more than double its crypto offering in the fall.

In May, when Ethereum began to break above its all-time high of $4,000, the company saw a flood of Bitcoin-to-Ether markets and investments. This shows that many company users have moved their data from Bitcoin to Ethereum.

In recent weeks, Kline said the transition has been slow, but likely slow.

Kline explains, "Retailers want higher growth rates," Kline explains. "Bitcoin is dominating, but Ethereum's steady growth and growth has been gaining momentum," Kline says.

Bitcoin's August high of $50,000 is "at a high technical and psychological level," according to Will Clemente, an analyst at Bitcoin mining firm Blockware Solutions.

Clemente said that over the past seven days Bitcoin's value has been in what has become known as the "volatility crisis". This shows that buyers and sellers are equal, reducing the majority of assets.

But that could change quickly, the analyst said. Bitcoin volatility crises usually take a week or two to resolve.

"It's not a sign, it's a sign that Bitcoin is going to change quickly," Clemens said.

Do you work without a permit? Binance trading platform closes Singapore market

Singaporean authorities later said they would break the law in the country. Crypto exchange Binance announced on Sunday that it will delay some operations in Singapore.

Binance announced that it will no longer offer shared marketing and payment options for the Singapore dollar and will remove the app from the Singapore Apple App Store and Google Play Store from Friday. Singapore-based Binance users have asked the company to “avoid any business disputes” by completing all business-related activities by Thursday and removing the industry impact announcement.

"Consumer protection is important to all of us, and we stand ready to help regulators around the world find the best way to create a level playing field," the company said in the statement.

A Binance representative stated that this decision will affect the Binance.com service, but not the Binance.sg service.

According to the Monetary Authority of Singapore, Binance Asia Services, which operates Binance.sg, recently applied for a license and is now exempt from holding a license to provide paid digital token money services. Applications are still being reviewed.

Singaporean financial institutions announced on September 2 that Binance may violate rules for providing payment services to Singaporean residents and request changes without the necessary permissions. . As a result, Binance requested not to provide paid services to Singaporeans.

Binance also said on Sunday that it does not operate Telegram or online communications in Singapore and pledged to establish a policy "for the benefit of all users".