Morning update: July 14th, 2021

institutions, 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

During yesterdady afternoon and today, crypto markets turned to red numbers again. All main cryptocurrencies, except stablecoins, took a hit.

Bitcoin (BTC) dropped below 32,000 USD, trading at around 31,900, down 3.5% (all data from Coingecko.com).

Ethereum (ETH), the second-largest cryptocurrency, dropped even further, below the psychological level of 2,000 USD, to 1,890 USD, down 6.1% a day and 18.6% in a week.

Other digital assets from the top 10 are showing similar results, having all lost more than 5% in the past 24 hours.

DeFi tokens follow the trend, despite their seemingly strong rally over the last two weeks. The whole sector is down 6.96% a day and 16.93% over the week.

In case you missed yesterday’s article: Satoshi’s era wallet has been activated with 791 BTC

News update

Ethereum: According to a tweet from analytical company Santiment, the 10 largest Ethereum wallet owners now hold a total of 20.58 percent of the overall ETH supply, which they have been accumulating since May 2017. During the last several weeks, when ETH has dropped from its recent ATH of $4,362, the top 10 ETH whales have bought another 2.12 percent of ETH supply on the dip.

Binance: Binance users in the United Kingdom found themselves unable to withdraw funds in pounds sterling on July 13. The exchange reportedly sent emails to customers affected and informed them of the issue surrounding the Faster Payments Network (FPN). Aside from the email reportedly sent out, no details have emerged from Binance on why GBP withdrawals have been halted or when they may resume again. The exchange only said it was working on a solution and when one arises, it will let users know.

Regulation: France’s stock market regulator, the Autorité des marchés financiers (AMF), presesnted new proposals that could result in a stricter regulation frame for the crypto market. AMF published a note on July 13, saying that it had published main proposals as part of the European Commission’s consultation on supervisory convergence. It described the aim of the proposal as allowing the European Securities and Markets Authority (ESMA) “a greater role in order to achieve harmonized, unified supervision…”

Several months after greenlighting a Bitcoin ETF, Brazil’s watchdog has done the same for a product tracking the performance of the second-largest cryptocurrency – ETH. The fund will be managed by QR Asset Management.

NFTs: Muse frontman Matt Bellamy is tokenizing and selling a song recorded on the same guitar Jeff Buckely used to record his hit album Grace.

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