BTC is currently trading around $20,300 and ETH around $1,550. Notable gainers in the last 24 hours are FLOW, LDO, and CAKE. The global crypto market cap is $1.03T, up 2.8% over the last day. DeFi Total Value Locked is ~$77b and BTC dominance is around 40%.
Risk markets are reversing the recent trend and moving upward on seemingly minimal new information. Equities and crypto are up, while bonds are mixed globally. U.K. bond yields continued to increase, and bond prices are on course for their largest monthly fall in nearly three decades as higher energy prices push up inflation. ETH is a standout performer within crypto, bouncing more than 11% off yesterday’s low.
Notable news includes: a Central African Republic court said its new $60,000 citizenship-by-crypto-investment program is unconstitutional; Iran introduced rules allowing businesses to use crypto for import trade transactions; South Korea’s Science Ministry released key ethical principals for growth and participation in the metaverse; individuals in Argentina’s Mendoza province can now pay government fees and taxes with crypto; CBDC alternative FedNow is expected to launch next summer; Fireblocks launched support for Solana-based applications; Indonesia’s largest tech firm GoTo acquired a local cryptocurrency exchange; FTX denied plans to acquire Huobi; CME added euro-denominated ETH futures ahead of The Merge; L2 scaling solution Arbitrum revealed it will launch its highly anticipated Nitro upgrade on August 31st; the Aave community proposed temporarily suspending ETH lending before The Merge to mitigate risks; Polkadot parachain Moonbeam integrated with cross-chain messaging protocol LayerZero; Texas’ grid operator ERCOT has slowed the issuance of new mining permits; mining pool operator AntPool revealed it will not support new proof-of-stake Ethereum assets citing censorship risks; Solana NFT project DeGods soared aheads of its upcoming y00ts launch; Art Blocks launched a new product for teams to create their own generative art; Meta introduced NFT cross-posting between Facebook and Instagram apps, supporting Ethereum, Polygon, and Flow NFTs; Reddit co-founder Alexis Ohanian is reportedly raising a ~$178m fund to directly invest in crypto tokens; crypto investment product volumes hit their lowest level since October 2020; Singapore state-owned investment firm Temasek joined a $100m round for Animoca Brands; Lightnet Group raised $50m to expand blockchain technology for remittances; blockchain gaming platform Xterio raised $40m; Cardano’s parent IOG funded a $4.5m blockchain research hub at Stanford University; and, OptiFi, a decentralized options trading protocol on Solana, permanently locked up ~$660k by accidentally shutting down its mainnet.
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