BitDigest July 23 · Issue #706
- Crypto prices jump based on OCC announcement and increasing interest in decentralized finance applications
- The OCC announced that US banks can now offer digital custody services
- Binance forms partnership allowing European users to trade digital assets through a German regulated entity
Weekly Stock Review
Highlights from the North American listed crypto, blockchain and mining stocks:
- Pricing of shares in Chinese bitcoin mining equipment producer Canaan (NASDAQ: CAN) jumped to a 2 month high of $2.93, while both Grayscale Investment’s Digital Large Cap Fund (OTCQX: GDLC) and Reality Shares Nasdaq NexGen Economy ETF (NASDAQ: BLCN) traded at 52-week highs this week at $6.60 and $32.40 respectively. CAN’s move saw a significant increase in average volume, spiking 174% during the week.
- Grayscale Investment announced FINRA had approved new OTC listings for its Bitcoin Cash Trust and Litecoin Trust. It is expected both offerings will begin trading in the coming weeks.
- The premium on Grayscale’s premier offering, the Bitcoin Investment Trust (OTCQX: GBTC) increased 72% this week rising from 7.2% to 12.4%.
- Riot Blockchain (NASDAQ: RIOT) announced it received 1,000 S19 Antminers, approximately one-third of its open-orders, at Coinmint’s upstate New York facility.
The Headlines
Exchange, Custody and Product News
Thoughts on the Ecosystem
Reports you may have missed
Crypto Receives a Boost from Strong Jobs Print, WULF Sells Hash Rate to Expand AI Capabilities
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MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC 1.12% falling to $60k and ETH 1.48% approaching the low $2,300s. Aptos (APT -1.53% ) 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 4.46% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 1.12% climbing back above $61,000 and SOL 6.81% moving above $145, while ETH 1.48% is lagging, trading around $2,400. Among today's outperformers is SUI 4.47% , 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 1.12% briefly dropping below $62k and ETH 1.48% below $2.5k. Among altcoins, SUI 4.47% is showing...
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