BTC Price: $7,678
Last 7 days: + 21.1% MTD: +26.3% YTD: +181.4%
BTC resistance at $6,180 was broken which resulted in a number of triggered buy orders and upward price movement.
BTC trading volume:
16th July, $4,024,751,045 (price of BTC $6,599)
23rd July, $6,132,079,405 (price of BTC $7,690)
+52% in trading volume in the 7 days
Last 7 days: +3.1% MTD: -0.73% YTD: +100%
ETH price currently stable and no real price actions to note. Broad expectations are for ETH to trade between $440-$540 respectively over July and August
Split of Overall Market Cap (Dominance)
Other Alt-Coins 39.7%
Past Week Talking Points
- BTC saw gains of over 20% meaning next level of resistance is $8.000
- South Korea’s Financial Services Commission to set up department dedicated to crypto/blockchain regulation
- Maltese blockchain framework is still not in place, however this is expected in the near future
- Raiden test network released. (Raiden is a payment channel network for ethereum, developed to help scale token transfers)
- Nervos Network raises $28m in Series A funding
- Civic buys identity.com
- IBM launches new blockchain research center at Columbia University
- IBM teams up with USD stable coin developer “Stronghold”
- Augur prediction market see 51% increase in activity
- Deloitte, EY, KPMG and PwC to trial blockchain tech for auditing public companies
- Chinese search giant Baidu has launched a token “off blockchain” that incentivises users for photo validating and sharing. The aim being to improve copyright disputes
- South Korean government considering tax breaks for companies that develop blockchain tech
- European Parliament study states that centralised cryptos provided by banks could see needed competition in the space
- Liverpool aims to become a climate positive city by implementing blockchain tech in the exchange of tokenised carbon credits to offset its effect on the environment
- BTC market dominance increases by 3.5%
- Bank of Canada study states that “double spend problem” not likely to be an issue in proof of work verification.
The Week Ahead
- Possible squeeze on BTC to next level of resistance at $8k?
- ETH to hit $480?
- G20 to publish framework on monitoring cryptos
- MLB (Major League Baseball) to launch dapp game off the Ethereum blockchain
- BlackRock looking at exposure to crypto market
- STASIS based in Malta, € pegged stable coin, partners with institutional client
- Boeing looking at blockchain tech to track unmanned air vehicles
- Peter Thiel and Bitman invest in Block.one the publisher of the EOS blockchain protocol
Have a good week.