Bulls largely absent as Bitcoin price slips to the bottom of its range near $32K

Within the past few hours, a fresh wave of selling pushed Bitcoin (BTC) price close to the $32,000 support level as the low trading volume and general disinterest from traders saw the price revisit the lower section of its current range. BTC/USDT 4-hour chart. Source: TradingView The price of Ether (ETH) also fell under pressure alongside Bitcoin as the building momentum ahead of the network’s upcoming London Hard Fork failed to support a price above $2,000, resulting in a daily low of $1,918. Bitcoin’s compression range tightens Some insights into…

21Shares partners with German brokerage to offer crypto ETPs for savings accounts

Investment product issuer 21Shares has joined forces with comdirect, a leading online brokerage in Germany, to bring its cryptocurrency exchange-traded products, or ETPs, to savings accounts.  The partnership means that comdirect’s nearly 3 million customers will be able to integrate physically-backed crypto ETPs into their Spar savings accounts. 21Shares claims this is the first such instance where investors can gain crypto exposure in their savings accounts. Marco Infuso, a managing director at 21Shares, said the new product offering will enable comdirect clients to include crypto in their retirement planning and…

Nonfungible tokens soar even as Bitcoin price drops close to $32,000

Today the wider cryptocurrency market finds itself looking for something to spark some momentum as Bitcoin (BTC) price dropped to $32,300 and altcoins sustained 2% to 5% losses. Data from Cointelegraph Markets Pro and TradingView shows that the top three performers over the past 24 hours are Audius (AUDIO), Axie Infinity (AXS) and Small Love Potion (SLP). Top-performing assets over the last 24-hours. Source: Cointelegraph Markets Pro The multifaceted use cases and applications of nonfungible tokens continue to be a source of strength for the NFT sector as a whole,…

Binance Users Barred from Withdrawing Pounds, Euros

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Ethereum price dragged down below $2K as US inflation hits highest level since 1991

Ether (ETH) perhaps had the most bullish outlook entering the July session, with a key technical update dubbed EIP-1559, promising to make its native token ETH scarcer through the network’s first-ever burning mechanism. But so far into the month, the second-largest cryptocurrency by market cap has vastly tailed its top rival Bitcoin. The positive correlation was visible on July 13, following the New York opening bell, when Ether plunged below $2,000 to hit its two-week low in sync with Bitcoin, which slipped slipping below $32,500. ETH/USD vs. BTC/USD on Coinbase.…

Band Protocol upgrades BandChain network to phase 2

Band Protocol, the cross-chain data oracle provider, announced Tuesday that its BandChain oracle blockchain is in the process of upgrading to phase 2. According to a press release provided to Cointelegraph, the upgrade — which was first proposed back in June 2021 — will be the first data oracle network to allow providers to supply data to the decentralized economy in this manner. The project hopes to allow for access to more data sources and richer data types for traditional enterprises by simplifying access to decentralized apps, or dApps. The…

Uniswap Grantees Slammed for Dumping $10M in UNI

Key Takeaways The DeFi Education Fund has sold half of the UNI tokens it received from Uniswap’s treasury for $10 million. The sale has been widely criticized, with many raising questions over the purpose of the project. Many have raised concerns over Uniswap’s apparent lack of decentralization as a small group of investors have large influence over the governance process. Share this article The controversial DeFi Education Fund, recently voted into existence following a Uniswap governance proposal, has come under fire for selling half of its UNI token grant. The…

BNY Mellon to Assist Grayscale with Bitcoin ETF Plans

Key Takeaways Grayscale Investments has selected BNY Mellon as an asset servicing provider. The move helps prepare Grayscale for converting its Bitcoin trust into an ETF. Grayscale is one of at least nine companies competing to offer the first Bitcoin ETF in the U.S. Share this article Grayscale Investments has selected the Bank of New York Mellon as its asset servicing provider for the Grayscale Bitcoin Trust. The move is part of the firm’s commitment to converting its Bitcoin trust into an exchange-traded fund. Grayscale Aiming for Bitcoin ETF Grayscale…

S&P Dow Jones Grows Crypto Inventory with New Indices

Share this article S&P Dow Jones Indices has doubled down on its crypto play. The data provider has launched five new crypto indices.  S&P Dow Jones Adds Five New Crypto Indices S&P Dow Jones Indices is embracing crypto.  The index provider has launched five new crypto indices, according to a Tuesday press release.  The biggest update is the launch of a new S&P Cryptocurrency Broad Digital Market (BDM) Index, which will track the performance of the crypto market across 240 coins.  The other indices are slight variants of the Broad…

S&P Dow Jones Indices launches new cryptocurrency indexes

S&P Dow Jones Indices, the leading index provider of some of the world’s largest equity benchmarks, has launched a new cryptocurrency index that tracks the performance of the broader digital asset market.  The S&P Cryptocurrency Broad Digital Market Index, labelled BDM, tracks more than 240 digital assets at launch and represents an expansion of the firm’s recently launched crypto benchmarks. In addition to BDM, the company also launched four other crypto-focused indexes on Tuesday, each tracking various components of the broad digital market benchmark. These include: S&P Cryptocurrency LargeCap Index…