BitDigest July 23 · Issue #706

Jul 23, 2020
  • 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
BitDigest July 23 · Issue #706

Weekly Stock Review

BitDigest July 23 · Issue #706

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

MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC 0.96% falling to $60k and ETH 1.36% 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 4.41% is also showing slight gains following...

CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 0.96% climbing back above $61,000 and SOL 5.29% moving above $145, while ETH 1.36% is lagging, trading around $2,400. Among today's outperformers is SUI 3.44% , 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...

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