The report noted that the news of SpaceX, led by Elon Musk, writing off a portion of its Bitcoin holdings in the previous quarter, played an added role in fueling the correction within the cryptocurrency markets in August.
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The introduction of the Enhanced Dai Savings Rate has managed to partially counteract the decline in the token's market value that had been observed.
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The crypto markets experienced a significant decline on late Thursday, with Bitcoin (BTC) plummeting to as low as $25,000 on the Binance cryptocurrency exchange.
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