Crypto market update
Bitcoin has another unsuccessful attempt to overcome $59,000, after which it plummeted by a few thousand dollars back to levels around $57,000. Most alts have stalled on a daily scale, aside from Shiba Inu, which has surged by double-digits following its listing on Kraken exchange. The cryptocurrency market cap is now slightly above $2.7 trillion, but it’s still a long way away from the record of over $3 trillion charted a few weeks ago.
Bitcoin (BTC) is now trading at 57,146 USD (all data from Coingecko.com)
Ethereum (ETH) is now for 4,493 USD
PlatonCoin (PLTC) is now for 0,367 USD
Total marketcap is currently at 2.739 trillion USD
Daily news update
Bitcoin and transaction fees: The Bitcoin network’s value settlement efficiency has been improving steadily recently, with more being settled for lower fees. Over the past week, the Bitcoin network has transferred or settled an average of $95,142 of value for every $1 worth of fees. The on-chain settlement efficiency has been gradually increasing since May as more has been moved around the network during the bull cycle. On-chain analyst Dylan LeClair made the observation using data from analytics provider Glassnode. The value is derived by dividing the mean transaction volume by the fees.
Google and cryptoscam warning: Tech industry titan Google is warning users that bad actors are illicitly using cloud computing servers to mine crypto. A new report by Google’s Cybersecurity Action Team finds that badly-constructed cloud instances are being targeted by scammers looking to use cloud resources to mine crypto, run phishing scams and use ransomware.
Pharrel Williams and Bitcoin: Pharrell Williams tweeted to his over 10 million followers yesterday of his intention to play an unreleased Bitcoin song for Satoshi Nakamoto. According to his post, the song was released in 2011, when the asset hit $1 for the first time just 2 years after its creation. According to Pharrell Williams, the song featured Diplo, a top DJ, songwriter, and producer.
Snoop Dogg and NFT: The legend in rap music – Snoop Dogg – collaborated with Coldie (an artist focused on blockchain and crypto art) to release another NFT token. It comes by the name of “Decentral Eyes Portrait Series” and was minted on the NFT marketplace – SuperRare.
Israel and CBDC: Israel is fast-tracking its research and development efforts for its own central bank digital currency (CBDC), Reuters reported today, citing the Bank of Israel governor. Israel wants to be at the “forefront” of central bank digital currency technology, according to the Bank of Israel governor.
FED and BIS cooperate: The Federal Reserve Bank of New York has joined hands with the Bank for International Settlements (BIS) to launch an innovation hub in New York— dubbed the New York Innovation Center (NYIC) — to explore and build financial technology products for the central bank community.