Morning update: July 16th, 2021

nasdaq Coinbase, update

Start up your day with our morning update, which will provide you with all the main information and events on the crypto markets for the previous day.

Crypto market update

Yesterdady saw another drop of the crypto markets, in spite of several good news.

Bitcoin (BTC) is trading inside its range of 31,300 USD and 40,550 USD, but since yesterday it lost 2.4% and now it is at 31,744 USD (all data from Coingecko.com).

Ethereum (ETH) has failed to break above 2,000 USD, the psychological level, and dropped down to 1,921 USD.

Top cryptocurrencies are in red numbers mostly, except for stablecoins, Stellar and BNB.

Total marketcap is down 2.5% and is currently sitting at $1.349 trillion. Since the beginning of June, the market cap has been stuck in a range between $1.83 trillion and $1.32 trillion.

Tip: You could be also interested in our article about Great Reset. 

News update

Bitcoin: Bloomberg wrote that Tesla’s exposure to Bitcoin is the main reason why the company’s shares have become less correlated with the big tech index.

Cardano: Alonzo hard fork has been successfully deployed. The Alonzo hard fork is a key upgrade, enabling smart contract functionality. The full release should take place in August. It would bring several significant changes to the Cardano network, including the ability to host decentralized finance (DeFi) applications.

Square: Jack Dorsey, CEO of Square, said that the company is working to create “an open developer platform” focused on bitcoin-tied financial services.

PayPal: PayPal announced that it had increased the crypto purchase limit for its customers based in the United States, from $20,000 to $100,000 per week.

Visa and MasterCard: Card payment service providers Visa and Mastercard announced that are still working with Binance despite the cryptocurrency exchange facing increased regulatory scrutiny.

CBDCs: After years of research and development, the Swedish central bank has finally created and established eKrona: world’s first state-backed decentralized currency. The tokens and the currency are available for immediate purchase, sale and use through the official eKrona’s website.

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