The Block
A local bottom has been potentially reached for bitcoin, and the derivatives market indicates that the digital asset’s price is beginning to stabilize, according to Bitfinex analysts.Bitcoin’s price has traded flat over the past 24 hours, holding above the $57,000 mark, according to The Block’s Price Page.
Quick Take The total market supply of PayPal’s PYUSD stablecoin surpassed half a billion tokens. In the past month alone, the stablecoin’s supply has risen from 270 million to over 533 million. The growth in PYUSD’s supply follows its expansion to the Solana network in May.
Quick Take Tron founder Justin Sun says his legal victory in China demonstrates a growing acceptance of crypto in the country.
Quick Take The global crypto exchange said that bitcoin remained the most traded crypto in Australia between May 2023 and May 2024. The popularity of newer memecoins, such as Pepe and Wif, is on the rise, the exchange found.
Quick Take Paxful’s co-founder pleaded guilty to not implementing a sufficient AML program. He faces a maximum prison sentence of five years.
Quick Take The German government continued to send and receive thousands of bitcoins from crypto exchanges and market makers on Tuesday. The government currently holds 22,846 bitcoins, less than half of the 50,000 bitcoins it seized from Movie2k in January.
Quick Take The partnership will see Maple Finance utilize Zodia Custody as a preferred custodian for global lending arrangements. The integration between Zodia Custody and Maple Finance is expected to go live by early Q3 of this year.
Quick Take Hut 8 has entered into an agreement for a site in West Texas with 205 megawatts of immediately available power capacity and land. The deal is the first transaction in Hut 8’s development pipeline of 1,100 megawatts of exclusive energy capacity.
The DigitalX spot bitcoin ETF is set to start trading on ASX, Australia’s main stock exchange, on July 12.The stock exchange listed its first spot bitcoin ETF last month.
Spot bitcoin ETFs in the U.S. recorded a net inflow of $295 million on Monday.BlackRock’s IBIT led inflows with $187.21 million.
