CoinDesk 20 Performance Update: NEAR and APT Lead as Index Rises 0.2% Source
CoinDesk 20 Performance Update: NEAR and APT Lead as Index Rises 0.2%
Day: July 11, 2024
Bitcoin, Mantra, Notcoin prices rise as US CPI data point to a Fed cut
Bitcoin and other altcoin prices continued rising after the US published encouraging June inflation data. BTC jumped to over $59,000 on Thursday, up from last week’s low of $53,700. Other tokens like Mantra (OM), Notcoin (NOT), AAVE (AAVE), and JasmyCoin (JASMY) rose by double digits. US inflation data Data from the Bureau of Labor Statistics (BLS) showed that the headline consumer price index (CPI) dropped from 0.0% to -0.1% in June, which was lower than the median estimate of 0.1%. The headline CPI dropped from 3.3% to 3.0%, also lower…
Michael Saylor’s MicroStrategy (MSTR) Announces Stock Split as Share Price Triples in a Year on Bitcoin (BTC) Rally
Stock splits are common among public companies whose shares have significantly appreciated. While the split does not change the company’s valuation, it could make the stock psychologically more accessible to smaller, retail investors by reducing the share price even at a time when many retail-facing trading platforms offer fractional shares. Most recently, chipmaker juggernaut Nvidia (NVDA) saw a 10:1 stock split last month after reaching a four-digit share price, tripling in a year fueled by the artificial intelligence-driven (AI) equities rally. Original
Fireblocks Adds First Clutch of Crypto Safekeeping Firms to Its Global Custodian Program
Fireblocks Adds First Clutch of Crypto Safekeeping Firms to Its Global Custodian Program Source
Bitcoin (BTC) Miner Ionic Digital Hires CFO John Penver to Shepherd IPO
Penver was previously CFO of data center service provider TSS (TSSI) and has more than 18 years of data center technology and infrastructure experience, the miner said in a statement on Thursday. “As CFO, Mr. Penver will focus on driving the [public] listing process for Ionic Digital, overseeing the company’s financial operations, including financial planning, analysis, and reporting,” according to the statement. Original
DAO-Specific Legislation Isn’t Needed Yet, Existing Rules Apply, Law Commission of England and Wales Says
“We do not, at least at this relatively early stage in the development of DAOs, recommend the development of a bespoke legal framework for DAOs in England and Wales,” it wrote. “This is largely because there is no consensus on what a DAO is, how it should be structured, or what a DAO-specific entity could or should look like.” Source
Exponential.fi Wants to Make It Easier to Invest in DeFi
“We may move to a fully decentralized platform when we can,” said Labbar, but he added, “We prioritize access, and right now, the easiest way to unlock access and to unlock the promise of DeFi, which is about freedom, is to introduce this layer of centralization.” Source
Bitcoin Price (BTC) Rises After June CPI Turns Negative
Bitcoin has been under considerable pressure over the past weeks since zooming to an all-time high above $73,500 late in the first quarter. The second quarter saw a slowing of inflows and even on occasion sizable net outflows into the U.S.-based spot ETFs. Then in late June into early July, a flood of supply from the sale of government holdings and the return of Mt. Gox tokens sent the price crashing to below $54,000 at one point, nearly 27% below that record high. Original
Crypto Market Rebound Expected in August, Liquidations to Finish By July-End: JPMorgan
The bank’s reduced estimate of $8 billion is comprised of a $14 billion net flow into crypto funds by July 9, Chicago Mercantile Exchange (CME) futures flows of $5 billion, $5.7 billion of fundraising by crypto venture capital funds year-to-date, minus a $17 billion adjustment to account for the rotation from wallets on exchanges to new spot bitcoin exchange-traded-funds (ETFs). Source
XRP Set To Skyrocket 60,000% On Tightest Bollinger Bands Ever
In an analysis shared via X and YouTube, crypto analyst Matt “The Great Mattsby” Hughes highlighted what could be a historic move for the XRP price, based on the Bollinger Bands indicator. Hughes points to an impending squeeze in XRP’s monthly Bollinger Bands, suggesting a potential spike similar to previous rallies where the cryptocurrency saw massive gains. Hughes explained via X: “XRP has one of the tightest monthly Bollinger Band squeezes in its history and in all of crypto right now. The last time it squeezed like that, it shot…