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BitDigest July 1 · Issue #691

Jul 1, 2020
Author
Gregory Landegger
Gregory Landegger
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  • Crypto markets remain unchanged. Are we returning to the ‘boring bitcoin’ days of 2019?
  • US Senators call for digital dollar to beat bitcoin and the digital yuan
  • The Australian Securities Exchange has delayed the release of its blockchain-backed platform
BitDigest July 1 · Issue #691

Technical Roundup Analysis

Technical Roundup continues to suggest that a range breakout ($10700 upside, $8000 downside) is likely and favors a pop above $9,300 which could spike above $10,000.

BitDigest July 1 · Issue #691

The Headlines

BitDigest July 1 · Issue #691

Senate Banking Committee Remains Open to Digital Dollar

www.coindesk.com
In yesterday’s hearings of the Senate Banking Committee, lawmakers repeated their negative stances against technology companies and warned that a digital dollar could bring risks to the market, but Republican Senators Mike Crapo (R-ID) and Tom Cotton (R-AR) spoke of the need for a digital dollar with Cotton suggesting that “the U.S. dollar has to keep earning that place in the global payments system. It has to be better than bitcoin … it has to be better than a digital yuan.”
BitDigest July 1 · Issue #691

ASX Delays Blockchain Platform for 12 Month

www.s3.cointelegraph.com
The Australian Securities Exchange (ASX) has announced it has pushed back it planned go-live date for its blockchain-based infrastructure roll out from April 2011 to April 2022.
BitDigest July 1 · Issue #691

BIS Expanding Innovation Hub to North America and Europe

www.bis.org
The Bank for International Settlements (BIS) is expanding its Innovation Hub and plans to establish new Hubs across Europe (London, Frankfurt & Paris and Stockholm) and North American (Toronto, and New York through a strategic partnership with the NY Fed) to “create a global force for fintech innovation.”
BitDigest July 1 · Issue #691

FCA Shows Crypto Ownership Increasing

www.fca.org.uk
The United Kingdom’s Financial Conduct Authority (FCA) released a research note on consumer use of cryptoassets and estimate that 3.8% of the general population own cryptocurrencies and many consider it a “gamble” although 75% own less than £ 1,000.
BitDigest July 1 · Issue #691

Bitcoin ETP Launches On Deutsche Börse

www.globenewswire.com
21Shares, formerly Amun, has officially listed its Bitcoin ETP on the Deutsche Börse’s Xetra electronic market place.
BitDigest July 1 · Issue #691

Eliptic Expands Offering to Horizen and Zcash

www.elliptic.co
Blockchain analytics firm Elliptic is launching a monitoring service for privacy coins Zcash and Horizen and believes the risk associated with these assets is actually lower than is frequently assumed.
BitDigest July 1 · Issue #691

IOTA Releases Decentralized Testnet for IOTA 2.0

www.blog.iota.org
Internet of things blockchain IOTA has completed its first milestone and released Pollen, a rapidly developing research testbed where the community, researchers and engineers can test and validate the concepts of IOTA 2.0.
BitDigest July 1 · Issue #691

Augur Readies v2 to Launch

www.augur.net
Prediction betting platform Augur will launch version 2 of its network on the Ethereum mainnet on July 28th and announced that all REP token holders will need to manually migrate their REPv1 tokens to the new REPv2 to participate in the Auguur v2 reporting system.
BitDigest July 1 · Issue #691

Nvidia Files Motion to Dismiss Class Action Lawsuit

www.law360.com
NVIDA (NASDAQ: NVDA) has filed a motion to dismiss its $1 billion class action complaint filed against the graphics processing chip manufacturer based on claims the company misled investors over its 2017 sales.

Market Data

BitDigest July 1 · Issue #691

Coin Metrics' Introduces Free Float Supply Measures

www.coinmetrics.substack.com
Crypto data provider Coin Metrics released a new feature providing a measure to determine on the free float supply of digital assets.
BitDigest July 1 · Issue #691

Bitcoin's New Whales May Not Be New Afterall

www.insights.glassnode.com
Glassnode Insights suggests that while bitcoin’s whale population (entities hodling a balance of at least 1000 BTC) is growing (>1800) this increase may be explained by existing hodlers withdrawing their BTC from exchanges, not by the entrance of new investors buying BTC.

Thoughts on the Ecosystem

BitDigest July 1 · Issue #691

ABA Argues Against FedAccounts and Digital Dollar

www.aba.com
The American Bankers Association (ABA) does not believe the development of a digital dollar could take far too long to have any impact on the COVID recovery and suggests that the use of FedAccounts would undermine bank efforts to provide greater financial inclusion.
BitDigest July 1 · Issue #691

Delphi Releases Thoughts on Institutional Entrants into Crypto Market

www.delphidigital.io
In a newly released “Institutional Argument for Bitcoin” report, crypto research firm Delphi Digital suggests that inflationary pressures will force policy makers to increase their monetary assistance programs thereby compounding the argument supporting bitcoin’s long-term value proposition as a hedge against fiat currency debasement.

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