Hello everyone, this is our weekly crypto digest. Here you’ll find everything from a weekly market summary and top news to the hottest new listings on exchanges, and even memes to cheer you up. To get these updates as soon as we post them, follow us on Twitter.
Weekly Market Summary
Scotland Yard has seized cryptocurrencies worth £180 million (almost $250 million). The Met confiscated £114 million ($158 million) worth of cryptocurrency late last month, making this the second significant seizure in recent weeks.
The total value of the crypto seized in the two hauls is £294 million (almost $408 million).
Since the beginning of the year, hackers behind ransomware assaults have made roughly $33 million in Bitcoin.
If Russian-speaking cybercrime organization REvil receives the $70 million it demanded from 200 US firms struck by a major ransomware assault earlier this month, this amount can rise dramatically.
At $30,000, Bitcoin (BTC) is experiencing a “reset” in investor behavior, and if the trend continues, the price will rise.
On July 13, on-chain monitoring resource Ecoinometrics stated that the only way is “up” for BTC/USD if hodlers continue accumulating coins.
Quick weekly news:
- Bitcoin rebounds from $33K support as US dollar inflation comes back into focus: Read more here.
- DeFi Lending: 3 Major Risks to Know: Read more here.
- OK Group to help China combat money laundering with blockchain: Read more here.
- Dogecoin Down 36% Over Past Month In Ongoing Slump: Read more here.
Other notable events include:
– Uniswap launches Optimistic Ethereum L2 scaling in Alpha
– Coinbase Wallet Adds Support for Ethereum Scaling Solution Polygon
Optimistic Ethereum L2 scaling
Developers claim transactions will be confirmed instantly (0.6 transactions per second), and users’ expenses for conducting transactions through the exchange will be reduced by up to 10 times.
Though deposits from the first level of the Ethereum network in Optimism are confirmed instantly, the reverse operation will take seven days until an appropriate service is developed.
Support for Ethereum Scaling Solution Polygon
Coinbase has announced that decentralized apps (dApps) based on the Polygon (MATIC) blockchain are supported in both the mobile and desktop browser versions of its digital wallet from now.
According to the announcement, Coinbase’s clients would be able to perform transactions faster and cheaper, as well as gain easy access to Polygon-based dApps.
It’s well known that making a profit on cryptocurrency markets depends on the understanding of price formation trends and mechanisms. Concepts such as Bitcoin bid-ask, order book and spread play an important role in the vast majority of trading strategies. In our article “Digital gold. How to calculate the liquidity of Bitcoin”, we will discuss the importance of measuring liquidity, as well as how to calculate the liquidity of Bitcoin and what volatility has to do with it.
This is what you can find in the article:
– What is Bitcoin’s key parameter?
– Is Bitcoin an unstable asset?
– How to determine Bitcoin volatility?
– What is true value of Bitcoin?
– Can volatility become your trading assistant?
- Spot trading: There are two favorites at the spot trading front: Bitcoin (BTC) and Ethereum (ETH). Two top dogs have overtaken Enjin Coin (ENJ) and Dai (DAI) to push them to third and fourth places.
- Derivatives: Bitcoin (BTC) and Ethereum (ETH) have also become the most traded currencies as to trading derivatives. Solana (SOL) is following these two head to head with THORChain (RUNE) and Dent (DENT) taking fourth and fifth place
Here are the hottest exchange listings of the last week:
New Listings on Kraken:
– Chiliz (CHZ/USD CHZ/EUR)
– Perpetual Protocol (PERP/EUR PERP/USD)
– Origin Protocol (OGN/EUR OGN/USD)
– Axie Infinity (AXS/EUR AXS/USD)
New Listings on Kucoin:
– NEAR Protocol (NEAR/BTC NEAR/USDT)
– ZORT (ZORT/USDT)
– OpenOcean (OOE/USDT)
– Dfyn Network (DFYN/USDT)
New Pairs on Binance:
– PancakeSwap (CAKE/BRL)
– Polkadot (DOT/AUD)
– The Graph (GRT/TRY)
– Internet Computer (ICP/RUB)
By the way, our PRO plan includes new Exchange Listing alerts for all 27 exchanges in our app. Become a PRO and receive an instant notification when a new coin is listed on Coinbase Pro, Binance, or an exchange of your choice!
PIG is a token on Binance Smart Chain with a variety of spectacular features. It is the first token with a Black Hole design that exponentially cuts the total supply in circulation by massive amounts. PIG combines this with an ingenious Auto-Liquidity function that rapidly improves the token’s liquidity. Finally, PIG has a level of decentralization that is rarely common in other coins.
🔍DYOR
Filecoin is a decentralized data storage network that allows users to sell their extra storage on an open market. IPFS (InterPlanetary File System), a peer-to-peer network for storing and sharing data files, uses it as an incentive and security layer.
Filecoin transforms IPFS into an “algorithmic market,” in which users pay storage providers in Filcoin’s native token, FIL, for storing and distributing data on the network.
😋Recent announcements:
Outlier Ventures launches new accelerator for projects leveraging Filecoin
As Miners Leave Bitcoin in Droves, Space Allocation Dedicated to Filecoin and Chia Surges
🔥DYOR:
– Website
We have prepared top-performing coins of July 15 for you.
The Sandbox has managed to become the best performing asset among TOP-100, gaining 64.15% within the last 24 hours.
Celsius was the worst-performing asset among TOP-100 (again), losing 7.61% within the last 24 hours.
To get up-to-date reports on gainers and losers during the week, follow us on Twitter.
Top cryptomeme of the week
If Harry Potter were a trader… 😂😎
We hope you found this digest useful and informative! If you want to be the first one to receive new crypto insights and stay up-to-date with the market, follow us on Twitter. Happy trading with the Good Crypto app!