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News recap: bitcoin outperformed all other major assets

Mastercard is set to test tokenised bank deposits, MicroStrategy acquires an additional $347 million in BTC, while Polkadot has connected with Cosmos through the IBC Protocol. Read our News recap to learn more about the main crypto events between 23rd June and 06th July 2023.

Crypto market in numbers

Since 23rd June, the crypto market capitalisation has grown by 3.18% to $1.2 trillion, according to CoinMarketCap. The indicator tried to gain a foothold above this mark, yet failed to do it as of now. The market is consolidating due to the absence of major news events.

Trading activity has not changed significantly. Between 23rd June and 6th July, the average daily trading volumes stood at $35-$40 billion. The indicator rose to $47-$64 billion from time to time, but then quickly fell back into the previous range.

The Cryptocurrency Fear & Greed Index remained in the “Greed” zone. Between 23rd June and 6th July, the indicator fluctuated in the range of 54-65 points. As of 6th July, the index stood at 56 points.

The volatility of cryptocurrencies has decreased slightly. Between 23rd June and 06th July, bitcoin’s 30-day volatility index fell by 9.47%, from 2.11% to 1.91%. The same indicator for ETH decreased by 2.42% – from 2.06% to 2.01%.

Since the end of June, the crypto market has been consolidating. There were almost no important economic dates and no market reaction after the publication of US GDP statistics. Cryptocurrencies are waiting for SEC’s decision on spot bitcoin ETFs since all previously rejected applications have been refiled again.

Bitcoin’s dominance has declined slightly. Over the month, the indicator grew by 9.4%, exceeding 50% for the first time in two years. However, bitcoin’s share of the crypto market has been falling in recent days. Altcoin started attracting inflows from institutional investors, which allowed them to recover slightly. Although, they are still weaker than the first cryptocurrency.

Gainers (23rd June – 5th July)

Coin Opening
23.06, $
05.07, $
BCH 141.15 277.74 96.8%
MKR 773.86 995.85 28.7%
BTG 11.41 14.53 27.3%
DCR 14.23 18.11 27.2%
ZEC 27.20 34.06 25.2%

Losers (23rd June – 5th July)

Coin Opening
23.06, $
05.07, $
SUI 0.84 0.69 -17.0%
IQN 0.24 0.20 -15.5%
VLX 0.02 0.01 -8.1%
DEBT 14.31 13.65 -4.6%
ALGO 0.13 0.12 -4.3%

Easily track gainers and losers within the Simple trade section on EXMO. Check real-time updates in the last 24 hours, week and month.

Most traded coins (23rd June – 5th July)

Coin Trading volumes, $
BTC 21,838,767
ETH 12,688,496
DEBT 5,725,686
XRP 2,437,492
LYO 2,186,236
BCH 2,118,561
LTC 1,676,840
YFI 1,514,275
WAVES 1,045,861
UNI 1,014,902

Top crypto market driving factors

Overall crypto market

▲ 27.06.2023 – According to CoinShares, the eight largest US financial institutions are actively working to provide customers with access to bitcoin and other cryptocurrencies.

▲ 29.06.2023 – Mastercard has recently begun trialing tokenised bank deposits in the UK.

▲ 29.06.2023 – US real gross domestic product (GDP) increased at an annual rate of 2.0% in the first quarter of 2023.

▼ 30.06.2023 – The SEC informed Nasdaq and CBOE that spot bitcoin ETF filings from BlackRock, Fidelity and other asset managers were not clear and comprehensive.

▲ 03.07.2023 – Invesco, Fidelity, VanEck, 21Shares and WisdomTree amended bitcoin spot ETF filings following SEC’s warning.

▲ 03.07.2023 – Joint research conducted by Consensys and YouGov estimated that 92% of participants were aware of cryptocurrencies.

▼ 03.07.2023 – Venture capital investments in cryptocurrency companies have plummeted by over 71.3% over the past year.

▲ 03.07.2023 – Nasdaq refiled BlackRock’s bitcoin ETF application with the SEC.

Bitcoin (BTC)

▲ 26.06.2023 – According to The Block, the Lightning Network’s capacity in US dollars reached an all-time high, exceeding $172 million.

▼ 27.06.2023 – Bitcoin miners sent a record $128 million to exchanges over the past week.

▲ 27.06.2023 – According to CryptoQuant, bitcoin’s bottom is already over. Most market participants sold at a loss in late 2022 – early 2023.

▲ 28.06.2023 – Michael Saylor’s MicroStrategy purchased an additional 12,333 bitcoins for a total of $347 million in cash.

▼ 28.06.2023 – Cryptocurrency miners have sent a total of 33,860 BTC to crypto exchanges since 15th June, which equates to more than $1 billion.

▼ 29.06.2023 – Bitcoin’s mining difficulty dropped by 3.26%. The indicator has shown negative dynamics for the first time since the beginning of May, stopping at 50.65 T.

▲ 29.06.2023 – Bitcoin outperformed popular asset classes, including gold, obligations and stocks, in the first half of 2023, with 83% growth.

▲ 30.06.2023 – July has historically been the best month for bitcoin based on data from 2009.

▲ 03.07.2023 – CryptoQuant noted a “significant upward trend” in accumulation by institutional investors.

▲ 03.07.2023 – Bitcoin reserves on exchanges have dropped by over 30% since March 2020.

▲ 04.07.2023 – According to Santiment, bitcoin whales and sharks have accumulated over $4.7 billion worth of BTC in seven weeks.

▲ 05.07.2023 – BTC addresses holding less than 1 BTC buy about 33,800 BTC per month.

▲ 05.07.2023 – The adjusted bitcoin percent supply in profit reached a value of 72.3%.

▲ 06.07.2023 – According to Glassnode, the bitcoin balance held by exchange addresses reached 2.26 million, the lowest level since 14th March 2018.

▲ 06.07.2023 – Bitcoin miners earned $184 million in fees in the Q2 of 2023 – more than a 270% increase from Q1 of 2023.

Ethereum (ЕТН)

▲ 26.06.2023 – Ethereum ranks first among blockchains in terms of funds raised during public rounds in 2023, with $71 million being raised.

▲ 27.06.2023 – The number of ЕТН in staking exceeded the number of coins available for purchase on exchanges (23,369,497 vs. 23,355,775).

▲ 28.06.2023 – Ordinals-like tokens on Ethereum surged past $1 million in volume.

▲ 29.06.2023 – Compound’s CEO and founder plans to create a bond fund with Ethereum for record-keeping.

▲ 03.07.2023 – Open interest in CME Group’s ether options is at an all-time high, exceeding $254 million in June, according to The Block.

Ripple (XRP)

▲ 27.06.2023 – Unlike many cryptocurrencies, XRP is not currently seeing high profit taking, according to Santiment.

▲ 30.06.2023 – Ripple has launched Crossmark, the next-generation web wallet for XRP Ledger. Its features are comparable with Ethereum’s renowned MetaMask wallet.

▲ 30.06.2023 – Wallets holding between 10 million and 100 million XRP accumulate tokens as XRP’s price falls.

Litecoin (LTC)

▲ 27.06.2023 – The Litecoin network hashrate hit an all-time high of 797.5 TH/s. Over the past year, the figure has almost doubled.

▲ 04.07.2023 – Almost 13% of all Litecoin in circulation hasn’t moved in over five years.

▼ 04.07.2023 – Santiment notes that whales have started selling LTC.

▲ 06.07.2023 – Litecoin halving will take place in 26 days.

Polkadot (DOT)

▲ 30.06.2023 – Polkadot connected to the Cosmos ecosystem through the Inter-Blockchain Communication (IBC) Protocol.

Bitcoin Cash (BCH)

▲ 29.06.2023 – Analysts at IntoTheBlock recorded the largest total BCH transaction volume of the year, exceeding $750 million.

▲ 30.06.2023 – Bitcoin Cash surges by 30% as South Korean crypto exchange, Upbit, sees large trading volumes for the BCH/KRW pair.

Toncoin (TON)

▲ 04.07.2023 – TON blockchain launched an on-chain encrypted messaging feature.

Near (NEAR)

▲ 26.06.2023 – The NEAR Foundation partners with Alibaba Cloud to accelerate the development of Web3 in Asia and the Middle East.

Sui (SUI)

▲ 29.06.2023 – Six Clovers has released Versal Network on the Sui blockchain to enable faster, more cost-effective and secure cross-border payments. news

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Third largest EXM quarterly burn: we burned 150,352,991 EXM worth $1,932,531.

That’s all for this week! Follow EXMO on Twitter, Telegram and Instagram to stay tuned to the main events and trends in the crypto market.