$BTC 24 Hour High $9,530.52 $BTC 24 Hour Low $9,319.65 $BTC +1.6%
Total Market Cap $284.6 BN (+2.86%)
24 Hour Volume $63.0 BN (+5.00%)
Notable Movers Flexacoin (FXC) (+36.11%)
BTC Dominance 61.5% (-1.13%)
Overdue positive price action on the main digital asset front as $BTC and $ETH finally broke through their trading range. Overall market cap saw 2.3% increase to 288B overnight
$ETH turns 5 years old next week and jumps 7.2% to 262 off the news regarding a “final” testnet on August 4th, igniting $ETH bulls that were previously skeptical that ETH 2.0 would be delayed beyond 2020.
Currently trading on upper Bollinger bands, +9% above 10d SMA, at oversold RSI levels
ETHBTC improved 6.6% from 0.026 to 0.0278 after being range bound in the 0.025-0.026 levels the past 15 days.
$BTC also broke out of its tight 100 USD traded range over the past 13 days, jumping from 9,300 to 9,500.. BVOL dropping to 21.89%
$BTC futures market showing aggregated open positions topping 4B with 34M shorts liquidated on the move up.
All Top 10 Coins in the green; BTC dominance slipping -0.6% to 61.6%
DeFi market cap at 6.4B currently.
$LINK recovering back to 7.7 levels after a couple days of lacking volumes, overtaking $LTC as the 8th largest digital asset. RSI indicators showing oversold levels with 3 consecutive positive trading days. Trading just above middle range of bollinger bands.
$MakerDAO up 8.4% with increasing supply, currently trading at 489 and trading on upper bollinger bands after 12 days of low volumes traded.
Apple co-founder Steve Wozniak and 17 other individuals are suing YouTube and Google for failing to check Bitcoin "giveaway" scams on their platform, as per an announcement Wednesday. The complaint alleges "tens of millions of dollars in cryptocurrency have been lost in this scam," all of which could have been prevented by YouTube.
CoinDesk was informed Wednesday that its primary Twitter account was one of the 36. As of this writing, CoinDesk has yet to regain access to its account. The attackers were not able to see previous passwords, but were able to access email addresses, phone numbers and possible "additional information," the update said.
AVA Labs, the team behind Avalanche, an open-source platform for launching decentralized applications in a highly-scalable ecosystem, recently raised $42M in a 4.5 hour-long token sale last Wednesday. The sale marks one of the largest ICO’s out of the U.S. since 2017. AVA Labs, founded by Cornell Ph.D.’s and led by Professor Emin Gun Sirer, initially completed a $6M Series A in 2019 backed by Andreessen Horowitz, Initialized Capital, Metastable, Polychain, and angel investors, Naval Ravikant and Balaji Srinivasan.
After less than two months in government service, former Coinbase chief legal officer Brian Brooks came through for the cryptocurrency industry in a big way. On July 22, the U.S. Treasury Department’s Acting Comptroller of the Currency published a letter clarifying that U.S. banks and federal savings associations are allowed to provide custody services for cryptocurrencies.
The Office of the Comptroller of the Currency (OCC) today published a letter clarifying national banks' and federal savings associations' authority to provide cryptocurrency custody services for customers.
National and state banks and thrifts have long provided safekeeping and custody services, including both physical objects and electronic assets. The OCC has specifically recognized the importance of digital assets and the authority for banks to provide safekeeping for such assets since 1998. In the letter published today, the OCC concludes that providing cryptocurrency custody services, including holding unique cryptographic keys associated with cryptocurrency, is a modern form of traditional bank activities related to custody services. Crypto custody services may extend beyond passively holding "keys."
"From safe-deposit boxes to virtual vaults, we must ensure banks can meet the financial services needs of their customers today," said Acting Comptroller of the Currency Brian P. Brooks. "This opinion clarifies that banks can continue satisfying their customers' needs for safeguarding their most valuable assets, which today for tens of millions of Americans includes cryptocurrency."
The OCC also recognizes that, as the financial markets are increasingly digitized, the need will increase for banks and other service providers to leverage new technology and innovative ways to serve their customers' needs. By doing so, banks can continue to fulfill the financial intermediation function they have historically played in providing payment, lending, and deposit services.
Today's opinion applies to national banks and federal savings associations of all sizes and is consistent with a number of states which have already authorized state banks or trust companies to provide similar functions. https://www.occ.treas.gov/news-issuances/news-releases/2020/nr-occ-2020-98.html