BitDigest July 13 · Issue #698
- Alt-coins increase market cap as bitcoin dominance continues to weaken
- The G20 plans to draw-up a framework allowing its members to accept digital payments
- Singapore releases report on final stages of blockchain roll-out
What I Read This Weekend
- The South American nation of Uruguay was the first nation to explore the viability of a central bank digital currency in 2017 and although they developed it using their local mobile phone network instead of on a decentralized ledger, the system appears to have been successful.
- Ripple’s Executive Chairman has initiated a program to fund the installation of high definition security cameras across San Francisco to enable local communities to monitor and police their neighborhoods.
- In an interview with the US Secret Service, Forbes reports the cryptocurrency is only an ‘element’ of a crime, not its own separate ‘category’, and it is not relevant to the prosecution whether cryptocurrency is involved. only an ‘element’ of a crime, not its own separate ‘category’, and it is not relevant to the prosecution whether cryptocurrency is involved
The Headlines
Market Data
Reports you may have missed
Crypto Receives a Boost from Strong Jobs Print, WULF Sells Hash Rate to Expand AI Capabilities
CRYPTO MARKET UPDATE The crypto market is moving higher today, lifted by stronger-than-expected jobs numbers. The BLS reported 254k jobs added last month, far exceeding the market estimate of 140k, while August's figures were revised up from 142k to 159k. The unemployment rate also dropped to 4.1% from 4.2%. In response, rates rallied, the DXY spiked, and the futures market largely priced out the possibility of a 50 bps rate...
MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC 1.34% falling to $60k and ETH 1.70% approaching the low $2,300s. Aptos (APT -1.11% ) is one of the few gainers in the top 100 tokens as they have strengthened their presence in Japan via an acquisition of HashPalette, a Japanese NFT service provider and developer of Palette Chain. AAVE 4.79% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 1.34% climbing back above $61,000 and SOL 6.39% moving above $145, while ETH 1.70% is lagging, trading around $2,400. Among today's outperformers is SUI 6.04% , which appears resilient despite a $115 million token unlock yesterday. Oil is partially retracing its early rally, gold is lower on the day, and yields are moving higher, suggesting at least a temporary reversal of...
MARKET UPDATE Markets are selling off in the first day of Q4, fueled by geopolitical fears as tensions rise in the mid-east. The SPY 2.07% and QQQ 2.31% have dropped 1.14% and 1.92%, respectively, while the VIX has surged over 17%. XAU and DXY are gaining as investors move towards safe-havens. Crypto assets have also sold off, with BTC 1.34% briefly dropping below $62k and ETH 1.70% below $2.5k. Among altcoins, SUI 6.04% is showing...