Securitize Begins Issuing Tokenized Securities in Europe and Blackrock Starts 'Digital First' Investment in India
Market Update
- $BTC and $ETH were each flat today, declining 0.11% and 0.14%, respectively. Most altcoins have had a relatively uneventful day as well, apart from a few standouts. One of these is on chain analytics protocol Arkham Intelligence ($ARKM), which has risen 6.08% after declining the past week following its airdrop of 30 million tokens to ~65k wallets. $DOGE also continues to outperform, rising on speculation that Elon Musk could integrate the memecoin into Twitter (now named "X"). Equity markets continue outperforming crypto - SPX has risen 0.69%, and NDQ has risen 1.56% after the release of strong GDP numbers and Meta earnings results.
- BlackRock, the global investment giant, is expanding its presence in India through a strategic collaboration to introduce a "digital-first offering" in the country. On July 26, BlackRock officially unveiled a joint investment initiative with Jio Financial Services (JFS), a division of Reliance Industries led by Indian tycoon Mukesh Ambani. Both companies intend to invest up to $150 million in a 50:50 joint venture. Dubbed "Jio BlackRock," this venture seeks to offer "tech-enabled" access to affordable and innovative investment solutions to millions of investors across India. The project will leverage BlackRock's expertise in investment management and JFS's market insights, digital infrastructure, and execution capabilities.
- Securitize, a crypto firm focused on tokenizing real-world assets, has begun issuing tokenized securities in Europe, representing equity in the Spanish real estate investment trust, Mancipi Partners. These shares will be tokenized on the Avalanche blockchain, and secondary trading is scheduled to commence in September. The launch follows the recent approval by Spain's General Secretariat of the Treasury and International Finance, allowing the company to deploy digital asset securities to a select group of businesses and investors under closely supervised "sandbox" conditions. In six months, when the sandbox period concludes, Securitize intends to proceed with issuing and trading tokenized securities in Spain and across the broader EU.
Daily Technical Strategy
Mark L. Newton, CMT
Head of Technical Strategy
$YGG has begun to show signs of joining the rally seen in many coins over the past week. Daily charts of Yield Guild Games managed to break out of the lengthy six-month downtrend from February peaks. This resulted in price turning sharply higher and volume has been supportive of this rise. Thursday's lift above 0.178 is resulting in price reaching the highest levels since early June, and bodes well for upside follow-through to $0.238, and then $0.275 which signifies a 50% retracement of the entire downtrend from February. While daily charts showed prices consolidating near former lows from late December, Thursday's gains help prices break back above the former lows from late last year, which is thought to be bullish. Overall, gains look likely into August and dips should prove temporary, finding support at $0.15-$0.165 before likely pushing higher.
Daily Important Metrics
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All metrics as of July 27, 2023 1:16 PM
All Funding rates are in bps
Crypto Prices
| Symbol | Market Cap | Last Price | Daily Change | Year to Date | Relative to BTC YTD |
 BTC | $569B | $29,270 | ↓ -0.09% | ↑ 77% | |
 ETH | $225B | $1,868 | ↑ 0.47% | ↑ 56% | ↓ -21% |
 ADA | $11B | $0.3089 | ↑ 1.55% | ↑ 25% | ↓ -52% |
 SOL | $10B | $25.27 | ↑ 2.52% | ↑ 155% | ↑ 79% |
 MATIC | $6.7B | $0.7225 | ↑ 1.32% | ↓ -5.20% | ↓ -82% |
 DOT | $6.4B | $5.24 | ↑ 0.71% | ↑ 21% | ↓ -56% |
 LINK | $4.3B | $7.98 | ↑ 6.33% | ↑ 44% | ↓ -33% |
 NEAR | $1.3B | $1.37 | ↑ 2.22% | ↑ 7.39% | ↓ -69% |
 DOGE | $0.0000 | $0.0001 | ↓ -26% | ↓ -100% | ↓ -176% |
Exchange Traded Products (ETPs)
| Symbol | Premium to Nav | Last Price | Daily Change | Year to Date | Relative to BTC YTD |
| GBTC | ↓ -27% | $18.81 | ↓ -2.34% | ↑ 127% | ↑ 50% |
| BITW | ↓ -49% | $12.91 | ↓ -1.41% | ↑ 141% | ↑ 64% |
| ETHE | ↓ -39% | $10.82 | ↓ -1.77% | ↑ 127% | ↑ 51% |
| BTCC | ↑ 0.16% | $5.35 | ↓ -0.93% | ↑ 77% | ↓ -0.12% |
News
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