BitDigest September 14 · Issue #741
- Crypto prices show 24-hour decline but overall market cap up 2.3% since Friday
- European leaders call for regulations around stablecoins
- China explains digital yuan should be considered like cash
Growing focus on Ethereum
Digital exchanges are looking to grow by supporting Ethereum based projects. In recent days both Binance and Kraken have made statements showing their desire to help this ecosystem grow. Binance CEO Changpeng Zhao tweeted he would like to see more DeFi projects moving over to Binance Smart Chain and Kraken has posted a new position to hire an “external advocate” bridging mainstream investors and the Ethereum community.
China’s Public Blockchain Companies Blockchain Not Living Up to Hype
The Blockchain 50 Index, an index of the top 50 public companies affiliated with blockchain technology that trade on China’s Shenzhen Stock Exchange, are not operating as expected with many of the companies not even discussing their blockchain efforts. Out of a larger group of 262 public companies self-categorized as “blockchain companies,” only 23 mentioned live blockchain use cases.
The Headlines
European Leaders Ask ECB to Draw Up Stablecoin Framework
ECB to Define Role for Digital Assets without Hindering Benefits
Digital Yuan to be Considered "M0"
Bank of France Governor Sees Digital Payments Across "Strategic Square"
Seoul Government Proposes Blockchain Voting to Expand the Democratic Process
DAML to Become Exclusive Standard for BSN dApps
Market Data
Bitcoin's Growing Energy Consumption
Exchange, Custody and Product News
Gemini to Start Trading PAX Gold, Amp, and Compound
DeFi Swap Goes Live
Thoughts on the Ecosystem
Japan Does Not Need to Rush with Digital Yen
Apple Not Listening to Coinbase
Reports you may have missed
Crypto Survives Weekend Sell-Off, Hong Kong Approves Spot Bitcoin and Ethereum ETFs
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...
Spot ETH ETFs to Launch in Hong Kong, EigenLayer Launches Actively Validated Services
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...
Uniswap Receives Wells Notice, Bitfinex Announces Tokenized Capital Raise in El Salvador
U.S. equities are finding some relief following this morningâs PPI data, showing both MoM and YoY figures coming in under expectations. The SPY has risen 0.14% to $515 and the QQQ has gained 0.66%, exceeding $441. After showing resilience in the face of yesterdayâs equity sell-off, crypto markets are underperforming today. $BTC (-0.95%) is trading just under $70k and $ETH (-1.03%) is holding around $3,500. Bittensor ($TAO) is one of the...
Headline CPI came in at 3.5%, surpassing the anticipated 3.4%, while the core CPI matched last month's figure at 3.8%, also above the expected 3.7%. This surge was largely attributed to increases in auto insurance and shelter prices. Consequently, rates experienced a sharp rise, with the 10-year Treasury yield climbing by 20 basis points, a situation further intensified by a poor auction outcome today. The DXY has risen above 105,...
