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Bitcoin begins to fulfill traders’ downside targets as BTC price action retraces its steps in a crucial macro week.
The CEO of the Dubai-based exchange sees jurisdictions competing for crypto business in a post-FTX world. PLUS: Bitcoin holds near $30,000 amid investor cautiousness.
Next week’s U.S. central bank interest rate decision and the bitcoin options expiry are unlikely to move markets, which have been stuck for weeks.
BTC could suffer its second monthly downturn of 2023, while ether seems headed for its first losing month.
The redemption plan for the protocol appears to heavily favor employees and Parrot’s venture investors.
The lending platform is on track to remove some $7 million of MKR governance tokens from the market in the next month, according to blockchain data.
The latest price moves in crypto markets in context for July 21, 2023.
Some selling pressure may have arisen from a revised U.S. bill that excludes a host of traditional securities from the "digital asset" category, which some say bodes ill for DeFi.
Unlocks are staggered releases of cryptocurrencies that had been frozen to prevent early investors or project team members from selling in large numbers.
Interest on the ETF's cash balances helps offset the cost of rolling from one set of futures to the next, ensuring a low performance discrepancy, the firm said.
- 17:37Messari: Hyperliquid Volume Up More Than 4X Since Last OctoberAccording to Messari, Hyperliquid's monthly volume has grown more than 4x since October 2024, demonstrating the platform's rapid rise in the decentralised trading market. Hyperliquid has cultivated a high-value, consistently active trading user base, making it the only Layer 1 alternative on the market with a clear core user base. Its growth drivers include the introduction of new assets such as BTC in the spot market to expand the trading ecosystem and compete with CEX; HyperEVM's support for more third-party DeFi applications to increase the diversity of the on-chain ecosystem; and the structural accumulation of value through the reinvestment of transaction revenue in the HYPE token by the Assistance Fund (AF), a mechanism rarely found in most DeFi protocols. This mechanism is rare in most DeFi protocols. As the platform further optimises its on-chain order book and attracts more users, its influence in the decentralised trading market is expected to continue to grow.
- 17:36Analyst: Current Bitcoin Price Dependent on Strategy for Support, VC Funding Not Yet MassiveEmpire analyst Jason Yanowitz noted that if we exclude Strategy's (formerly MicroStrategy's) bitcoin purchases, the current cycle may still be in its early stages, with the current bitcoin price relying solely on the more than $20 billion that Strategy has poured into the market since the end of last year. The market is still in a ‘pure player takeover’ (PvP) phase, and venture capital has yet to come in on a large scale. Dan Matuszewski of CMS Holdings agrees, pointing out that the effects of the 2022 bear market are still being felt, and that there is a fundamental lack of liquidity in the market, which is preventing substantial inflows, which have yet to come in on a large scale, with the exception of a ‘select few’. The debate about whether or not the top has been reached will intensify. But regardless of the position in the cycle, we need to recognise that the new regulator is just getting started and its policies could be a catalyst for the future.
- 17:35Forecasts on Polymarket predict probability of approval of spot Solana ETF by 31 July this year falls to 35 per centThe probability of the US SEC approving a spot Solana ETF application by 31 July 2025 has fallen to 35% on Polymarket. The figure is down 41% from the high probability figure of 76% on 8 December last year.