Daily Market Update - July 2, 2020

#BTC 24 Hour High $9,309.75 $BTC 24 Hour Low $9,104.73 $BTC +1.2%

Total Crypto Market Cap $263.3 BN (+1.39%) 24 Hour Volume $57.2 BN (+3.62%) Notable Movers Synthetix Network Token (SNX) (+21.33%) BTC Dominance 64.7% (-0.15%)

Stocks rose on Thursday, as investors cheered the resiliency of a U.S. economy that created nearly 5 million jobs last monthin the throes of the raging coronavirus pandemic. NASDAQ sustained 10k levels for the third day in a row.

The U.S. economy added a greater than expected number of payrolls in June from May, as regions across the country eased social distancing restrictions and allowed more businesses to reopen. The net additions in payrolls topped consensus expectations, and far exceeded ADP’s private payrolls data on Wednesday, which logged a gain of over 2.3 million jobs.

Digital assets market Overall market cap rose to $267B with aggregated digital asset volumes dropping almost 4% overnight. $BTC futures market volume dropped to less than $10M per day during this week, 10.2M short contracts liquidated overnight on $BTC’s move up to $9,250 levels. Currently trading in the bottom range of Bollinger bands with RSI showing slight underbought levels. $BTC looking to take back some market share after $BTC dominance dropped to 64.6 with alt and DeFi coins seeing increased action as of the past couple weeks. Change of appetite as monthly volumes on $BTC Spot and futures dropped while DEXs picked up market share this week. Desk seeing physical traded volumes dip consistent with the market. ETH 2.0 to be able to process 100K transactions per second with Serenity update, $ETH currently at $231, range bound at $225 to $232 over the past few days $ADA continued to move higher off its Shelley upgrade, up 16% over the past 7 days, overnight up 14% to break $0.10. It’s ATH at $1.33 in Jan 2018. Support levels at $0.077 with targets of $0.107. $COMP sliding down since being listed on Binance, from highs of $270 to dropping 25% across five days to its current levels ($202).

A Newly-Disclosed Flaw Found in Several Popular Bitcoin Wallets Could Let Attackers Trick Users Into Thinking They Got Paid A newly-disclosed flaw in the user interfaces of popular wallet services Ledger Live, BRD, and Edge made it possible for attackers to trick users into thinking they had received bitcoin when they hadn't, according to a new report from ZenGo, also a wallet service. ZenGo has characterized the attack as a "double spend vulnerability" — a contention that each of the wallet providers pushed back on when contacted.

Boomer & GenX interest in BTC surged during the pandemic

The older generations have increased their monthly Bitcoin investments by a factor of nine on U.K crypto trading app Mode since the beginning of the pandemic and lockdowns.Mode Banking reported that Baby Boomers (born 1946-1964) and Generation-X (born 1965-1980) investors are investing significantly larger portions of their wealth into Bitcoin since the start of the COVID-19 pandemic. Using February as the baseline, the findings show that investments from these generations increased 2.24x in March, 4.49x in April, and 8.88x in May.

Coinbase Ventures Joins $23M Funding Round for Crypto Custody Firm Curv, a company that provides increased secrecy when it comes to holding crypto assets, has closed a $23 million Series A funding round. Announced Wednesday, the crypto custody tech provider, which uses a technique called multi-party computation (MPC), received investment from CommerzVentures, Coinbase Ventures, Digital Currency Group (DCG), Team8 and Digital Garage Lab Fund.

Decentralized Exchange Volumes Up 70% in June, Pass $1.5B June trading volume on decentralized exchanges set a record high of $1.52 billion, up 70% from May, according to data from Dune Analytics. This double-digit percentage growth is simply "the continuation of a trend dating back to the end of [2019]," Jack Purdy, decentralized finance analyst at Messari, told CoinDesk. Curve and Uniswap control the largest amount of traded volume, recording $350 million and $446 million, respectively, in June. Both protocols are automated market makers that can also function as decentralized exchanges. Balancer, a similar platform, recorded $93 million in traded volume, up 2,460% from $3.6 million in May.

Mt. Gox. Bitcoin Settlement Deadline Pushed to October 2020 The Tokyo District Court grants the Rehabilitation Trustee in the Mt. Gox case another extension for the submission of the reimbursement proposal. The Trustee, Nobuaki Kobayashi, filed for an extension motion on 30th June, 1 day before the submission date. The court has set 15th October as the new deadline. This is the third time the date has been extended, as the previous proposals were rejected by the customers. Earlier this year in March, the court ordered an extension to 1st July 2020 for submission of a new rehabilitation plan.

EU Fund Doles Out $5.6 Million in Grants to Blockchain Startups Today, the European Innovation Council (EIC) has given out grants to six projects from a pool of €5 million (roughly $5.6 million), under the "Blockchains for Social Good" program. "Six winners selected in a call to identify scalable, deployable and high-impact blockchain solutions for societal challenges," the organizers explained. The solutions include blockchain applications focused on fair trade and circular economy, renewable energy and financial inclusion. Upcoming Events July 2 - Cardano Shelly Summit 2020 July 6 - Unitize July 14 - Binance "Off The Charts!" Virtual Conference July 15 - Asia Blockchain Summit 2020 July 21 - Singapore Blockchain Week 2020



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