BitDigest July 24 · Issue #707
- Bitcoin posts 4.5% weekly gain but ether’s 17.6% increase pushes BTC dominance to multi-month lows
- India’s Prime Minister recommends blockchain as an investible frontier technology in his country
- Malta formerly launches its regulatory sandbox
The Headlines
Modi Highlights Investment Opportunity in Blockchain
Malta Launches FinTech Regulatory Sandbox
Kenya to Regulate Digital Loans
Czech Central Banker Criticizes CBDCs as 'Helicopter Money'
AntChain Accepting 100 Million Digital Assets Daily
Avanti Planning to Open in October with New Stablecoin Disruptor
Gemini Offers Custody for .crypto Domains
Voice to Open WaitList on August 15th
World Stablecoin Association Launched
Market Data
Bitcoin Option Activity has Left Bakkt for Deribit
Exchange, Custody and Product News
Liquid Dropping Zcash to Assist with Singaporean Approval
Binance Lists Maker and Dai
BitGo Offers Custody for Tezos
Thoughts on the Ecosystem
RUMOR: US Fed Buying Bitcoin to Back USD
Reports you may have missed
Equities and crypto assets are selling off in tandem today as inflation and geopolitical fears have spooked risk assets. The SPY and QQQ have decreased by 0.46% and 0.92%, respectively, while crypto is selling off more aggressively. $BTC (-5.49%) has tested the high $59,000s and $ETH (-4.42%) is trading below $3,000. Among a sea of red, $SUI is showing relative strength, gaining 6.44% on the back of a partnership announcement with...
Risk assets remain under pressure as the DXY's relentless rally has continued, now approaching its 2023 highs, currently at 106.5. Rates continue to move higher, with the 10Y now reaching a new year-to-date high of 4.7%. Gold continues its upward march amid persistent geopolitical tensions. Crypto remains weak in the face of rising rates, geopolitical risks, and tax season. $BTC continues to range between $61K and $63K following yesterday's afternoon...
Crypto prices suffered steep declines over the weekend following news of Iran launching drone strikes at Israel. Bitcoin and Ethereum reached respective lows of $60.8k and $2.85k, while many altcoins saw drops of over 20%. Open interest (OI) across all coins on Friday was $48 billion, and after the rapid price declines, approximately 25% of that was wiped, with total OI of about $36 billion at the time of writing. $BTC...
The subpar consumer sentiment numbers released today likely did not help asset prices, but geopolitics seems to be in the driver's seat today, with rumors of escalation in the Middle East pushing rates lower while driving the DXY and gold higher. Most risk assets, including crypto, have sold off based on these reports. $BTC has retreated from nearly $72k in the overnight hours to $69.5k, while $ETH has dipped below...
