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.
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.
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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