The U.S. inflation rate as measured by the Consumer Price Index (CPI) slipped to 3.0% on a year-over-year basis in June from 4.0% in May, according to the Bureau of Labor Statistics (BLS), and versus expectations for a dip to 3.1%. On a monthly basis, the CPI was higher by 0.2% in June versus 0.1% in May and expectations for 0.3%. Source
The latest price moves in bitcoin (BTC) and crypto markets in context for July 12, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Original
Coinbase has missed out on “a significant portion of the cryptocurrency market’s upside” and is expected to join this move later, one trader said. Source
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied On-chain data shows that bitcoin (BTC) has entered the accumulation phase over the past few months despite the high price fluctuations. According to data provided by Glassnode, the number of bitcoins on exchanges has been constantly falling since May and recently plunged to 2.2 million coins, marking a five-year low. The BTC balance on exchanges is currently worth $69 billion. The movement shows that investors are transitioning their assets to non-custodial wallets, addressing long-term investments. Moreover,…
The much-anticipated Quantum Leap upgrade by layer-2 scaling protocol Starknet was recently deployed on the Ethereum mainnet, allowing for as much as 90 transactions per second (TPS), boosting the network’s speed. MOARRR TPS DADDY STARKNET MAINNET QUANTUM LEAP 0.12.0 LIVE ON MAINNET pic.twitter.com/RaI1XKcgy7 — Starknet (@Starknet) July 12, 2023 According to Uri Kolodny, the co-founder and CEO of StarWare, this is a momentous day for the Ethereum blockchain as the scaling ceiling has been “smashed.” He explained that “high TPS is finally a reality on Ethereum Mainnet” because of the…
The South Korean government is continuing to develop tighter regulations targeting the cryptocurrency industry with the introduction of new asset disclosure rules. On July 11, South Korea’s Financial Services Commission (FSC) announced a new bill that will require all firms that issue or hold cryptocurrencies like Bitcoin (BTC) to disclose their holdings. According to the announcement, the FSC reviewed related proposals and gave the green light to the exposure draft bill that introduces mandatory disclosure requirements for crypto. The new measures aim to enhance transparency in accounting and disclosure of…
The bank lifted its MicroStrategy price target to $510, representing 24% potential upside, the report said. Source
The social media analytics platform is expanding from a digital asset trading focus to allow users to search for any topic. Source
The dollar value of the unlock amounted to 38% of the cryptocurrency’s average 30-day trading volume and had potential to push prices lower, per one analyst. Source
In advance of required regulations that are expected in a year, the banking watchdog for the European Union asked stablecoin issuers to voluntarily follow certain “guiding principles” on risk management and consumer protection. The European Banking Authority (EBA) released its first set of measures on Wednesday, July 12, for public comment in an effort to clarify the Markets in Crypto Assets Regulation (MiCAR) requirements for the issuance of a stablecoin that would take effect on June 30, 2024. They contain clauses like a perpetual right of redemption and guidelines for…