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PLUS: Mantle Network is mulling a $200 million ecosystem fund for its new layer-2 blockchain.
Bitcoin Ordinals, a method of generating non-fungible tokens (NFTs) through a process called inscribing, debuted in January, bringing the NFT and smart contract narrative to the Bitcoin blockchain.
The CPI sank to 4% in May and has been trending downward, although the Federal Reserve seems likely to follow through on an intended rate hike later this month.
The head of research for digital asset manager 3iQ wrote that the largest cryptocurrency by market capitalization is still riding tailwinds from multiple spot bitcoin ETF filings and other June events.
Buying for the trust has picked up on hopes the SEC might soon approve a spot bitcoin ETF.
The bank previously said it expected the cryptocurrency to reach $100,000 by then.
The latest price moves in crypto markets in context for July 10, 2023.
China is exporting deflation across the Western world. Ultimately this will be good for risk assets as it relates to the end of the global interest-rate increase cycle, one observer said.
PLUS: The dYdX Foundation's Charles d'Haussy says that dYdX's move away from Ethereum might be the beginning of a broader trend.
- 00:55Hyperliquid will set a strict upper limit for the clearing treasury, and JELLY long users will settle refunds at $0.037555On March 28, Hyperliquid announced that users who hold long positions in JELLY at the time of settlement will be refunded by the foundation at a settlement price of 0.037555. This means that all JELLY traders will settle at a price favorable to them, unless it is a marked address. Hyperliquid is strengthening risk management in various ways, including: · HLP: The liquidation treasury will have a strict upper limit and only account for a small part of the total value of the HLP account. The frequency of rebalancing will decrease and more complex logic will be adopted around backup liquidation. If the loss from the liquidation treasury exceeds certain thresholds, ADL (Auto-Deleveraging) would be triggered instead of automatically transferring collateral from other parts of the treasury. Please note that ADL is not expected to trigger under normal market activities. · Open contract cap: The open contract cap will dynamically adjust according to market value. · Delisting assets: Validators will vote on-chain to delist assets below threshold values.
- 00:34The third fund under the encrypted venture capital Maven 11 has completed a fundraising of 107 million US dollarsAccording to The Block, the crypto venture capital firm Maven 11 has raised $107 million for its third fund, slightly exceeding the initial target of $100 million. The financing was completed about nine months later than originally planned, mainly due to the severe environment in the crypto market and more cautious attitudes from capital providers or limited partners (LPs). Balder Bomans, Chief Investment Officer and Managing Partner at Maven 11 stated that we have observed and experienced an increase in sensitivity from capital providers towards venture capital funds. This is partly due to widespread losses caused by a series of market crashes in 2022.
- 00:33The cross-chain stablecoin Tether USDT0 has been deployed to Optimism SuperchainThe cross-chain stablecoin Tether USDT0 has been deployed to the Optimism Superchain, with Optimism announcing that USDT0 is now live on the OP mainnet. The Superchain is a second-layer chain network designed to expand Ethereum through Optimism's OP Stack. The deployment of USDT0 is expected to attract more leading assets, applications and partners to join the Superchain. (Cointelegraph)