Coinbase-incubated Layer 2 network – Base – is seeing a significant surge in daily activity thereby suggesting growing interest and adoption amidst an improved sentiment in the broader market. The Base mainnet also saw a recovery in its TVL after nearly two weeks of slump. Base Layer 2 Growth Over the past week, Base has […]
Spot Ethereum ETFs began trading in the United States for the first time on July 23, and the initial picture isn’t pretty for the world’s largest crypto asset manager. As expected, Grayscale’s newly converted Ethereum Trust (ETHE) hemorrhaged $484 million on day one of trading. If the situation mirrors that when Grayscale converted its Bitcoin […]
Investment in digital asset products continued to rise, with inflows reaching $1.35 billion last week, totaling $3.2 billion over the past three weeks. Trading volumes for Exchange Traded Products (ETPs) also saw a significant increase, up 45% week-over-week to $12.9 billion. However, this accounted for a lower-than-usual 22% of the overall crypto market volumes. Bitcoin […]
On July 23, Hong Kong will launch Asia’s first Bitcoin futures inverse product, the CSOP Bitcoin Futures Daily (-1x) Inverse Product (7376.HK). This new exchange-traded fund (ETF) by China Southern Asset Management Co., Ltd (CSOP) is designed to provide investors with an opportunity to profit from declines in Bitcoin’s price. Asia’s First Bitcoin Futures Inverse […]
Ethereum prices dropped more than 3% from an intraday high of $3,540 on July 22 to a low of $3,425 during the Tuesday morning Asian trading session. They have recovered slightly since but analyst ‘Kaleo’ predicted that there is a “high likelihood we see some type of pullback after the spot ETF launches.” He predicted […]
Bitcoin has gained around 17% since last weekend, which equates to around $9,000 over the past seven days or so. The asset was trading below $60,000 last weekend but surged to a six-week high above $68,000 on July 22. What has been driving market momentum for the past week, and will it continue? Bitcoin Is […]
State Street Corp., a Boston-based major player in traditional finance, is exploring the launch of its own stablecoin and tokenized deposits to improve payment settlement using blockchain technology. According to a Bloomberg report on Wednesday, the bank has been actively making efforts to integrate into the crypto space. State Street Is Pushing for Digital Expansion […]
Three individuals have been arrested by the Hong Kong police suspected of defrauding a businessman out of HK$3.11 million, worth around $399,000, in crypto assets by offering him three bundles of counterfeit HK$1,000 banknotes. The officers reportedly confiscated 10,978 fake HK$1,000 banknotes during a raid on the Mong Kok office, where the fraudulent transaction took […]
Kraken Institutional, the specialized division catering to institutional investors of US-based crypto exchange Kraken, has announced the international expansion of its custody services into the UK and Australia. This move marks its first venture following its initial launch earlier this year. Kraken Custody’s Expansion According to the official press release, institutional clients in the UK […]
Singapore-based cryptocurrency exchange – Bybit – has released its 12th proof of reserve (PoR) report, which highlights significant changes in user asset holdings compared to the previous month. The current PoR revealed a Bitcoin reserve ratio of 107%, Ether’s at 105%, and Tether’s at 103%. Bybit’s 12th PoR The report shows that Bybit’s wallets held […]