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Tokens such as AGIX and FET saw modest bump after Musk announced new Artificial Intelligence (AI) company "xAI" to take on ChatGPT.
The latest price moves in crypto markets in context for July 12, 2023.
The bank lifted its MicroStrategy price target to $510, representing 24% potential upside, the report said.
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.
Crypto traders anticipates a big move in bitcoin as Bollinger bands have tightened to the lowest level since early January.
ARK currently owns 11.03 million shares of Coinbase.
PLUS: Chinese Yuan-backed stablecoins are an impossibility.
Crypto investors now effectively lend $614 million to the U.S. government via different tokenized Treasury products, according to real-world asset data firm RWA.xyz.
While July has historically been one of Bitcoin’s strongest months, the largest crypto by market value’s price has remained range-bound so far this month.
Investors committed nearly 20% of all ETH tokens to lock up in staking contracts, according to blockchain data.
- 02:43Base set a record of 106 TPS, and its TVL exceeded 10 billion US dollarsAccording to reports, Ethereum's Layer2 network Base just set a record of 106 TPS, further surpassing Taiko to become the fastest Ethereum Layer2 solution. Its total locked value (TVL) recently exceeded $10 billion. This marks an increase of nearly 28% in Base's TPS since November 23rd. According to Base founder Jesse Pollak, the average TPS for Base was only 4 in January. Data from L2BEAT shows that after breaking through the $10 billion mark on November 15th, Base's TVL has increased to $10.68 billion, making it the second largest Ethereum Layer2 by TVL value, second only to Arbitrum One's $18.3 billion. Previously in June, Arbitrum One surpassed OP Mainnet to take second place. L2BEAT stated that this brings the total locked value of Ethereum Layer2 solutions up to $49.3 billion.
- 02:42K33 Research: Traders are still waiting for the New York Stock Exchange and NASDAQ to launch spot Bitcoin ETF optionsIn an interview with CNBC, Vetle Lunde, Research Director at K33 Research, stated that the Chicago Mercantile Exchange's futures open interest has hit a historical high. This is currently the method most U.S. institutions use to purchase Bitcoin futures contracts. However, many traders have been waiting for spot Bitcoin ETF options from major exchanges such as the New York Stock Exchange and Nasdaq because they can enhance liquidity and provide hedging tools. Vetle Lunde added that market demand for leveraged long exposure to Bitcoin and Ethereum is on the rise, and VolatilityShares' BTC exposure has also previously reached a historic high.
- 02:36Market dynamics on November 26: BTC and altcoins are declining, MicroStrategy's investment effect weakens; U.S. stocks rise, Federal Reserve may slow down interest rate cutsI. Market Dynamics 1. BTC daily line falls, altcoins generally fall. MicroStrategy used $5.4 billion this month, but only pulled the BTC price up by $1000, while previously $4.6 billion pulled it from 70k to over 90k. 2. U.S stocks rise. The United States will impose tariffs on China, Canada and Mexico; Federal Reserve may cut interest rates or slow down. II. Market Focus 1. Public chain ETH rises, ecosystem ENS, LDO, SSV, RPL etc follow suit in rising trend.BTC dominance weekly line drops; altcoins will perform better than BTC in the coming months. 2. Secondary new coin PNUT and ACT stop falling and rebound.New coins still have considerable popularity.PNUT founder launched another one called JUSTICE,but the market did not buy it,similar to previous PEPE. 3. MEME's CHEERS and WHY plummeted.They are all BSC chain MEMEs.
