News
Stay up-to-date on the most trending topics in crypto with our professional and in-depth news.
PLUS: Chinese Yuan-backed stablecoins are an impossibility.
Crypto investors now effectively lend $614 million to the U.S. government via different tokenized Treasury products, according to real-world asset data firm RWA.xyz.
While July has historically been one of Bitcoin’s strongest months, the largest crypto by market value’s price has remained range-bound so far this month.
Investors committed nearly 20% of all ETH tokens to lock up in staking contracts, according to blockchain data.
Open interest for MATIC trading pairs has risen from $109 million to $160 million in the past 24 hours.
The latest price moves in crypto markets in context for July 11, 2023.
"The dollar index futures act a robust complement to the long-only portfolio from both a thematic and empirical perspective," Marex's Mark Arasaratnam said.
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.
- 17:06Peter Schiff: Someone has already created USAcoin, but I do not recommend buying itGold advocate Peter Schiff posted on the X platform saying: "Someone has actually created USAcoin, my previous post was ironic, so don't buy USAcoin. But the previous view was that if the U.S. government created a similar token and committed to establishing strategic USA coin reserves, it would make more sense than storing Bitcoin, this part is not a joke." Earlier news reported that Peter Schiff tweeted that the United States could save a lot of money by creating USA Coin instead of creating Bitcoin strategic reserves. Like Bitcoin, its supply cap can reach 21 million, but only after upgrading blockchain can USA coin truly be used for payment.
- 17:04Analysis: MicroStrategy's valuation has dropped to twice the market value of its BTC holdings, and its stock price may face a downward trendAccording to Barron's, the Bitcoin premium of MicroStrategy's stock (measured by the ratio of enterprise value - i.e., market capitalization plus net debt - to the company's holdings in Bitcoin) continues to shrink. The company is currently valued at about twice its Bitcoin holdings, which are approximately 439,000 Bitcoins (estimated by Barron's). This ratio has dropped from a peak of 3.5 times in November to the current double, indicating that MicroStrategy's share price has not been able to keep up with the recent surge and subsequent correction in Bitcoin prices after breaking through $100,000. Given that there is still a high bitcoin premium in stocks, MicroStrategy shares may face more downside space. Currently, MicroStrategy has a market capitalization of about $79 billion USD; it holds around $43 billion USD worth of bitcoins and carries $7 billion USD in debt. An excessively high premium could make MicroStrategy shares prone to corrections as premiums continue shrinking.
- 17:03BTC breaks through 96,000 US dollarsBitget market data shows that BTC has broken through $96,000, currently reported at $96,044.43, with a 24-hour drop of 1.4%.
