Daily Quotes (July 3, 2024 10:00 AM)
ChainDD's market data on July 3rd shows that the combined DD index and CoinMarketCap quotes are:
BTC was at $61,430.44, down about 3.48% in 24 hours;
ETH was at $3,349.23, down about 2.89% in 24 hours;
BNB was at $567.69, down about 1.64% in 24 hours;
DOT was at $6.31, down about 1.45% in 24 hours;
DOGE was trading at $0.1216, down about 1.50% in 24 hours.
Cryptocurrency News
Ripple and Coinbase use Binance court ruling to challenge SEC cryptocurrency regulation
Coinbase and Ripple Labs are using a recent court ruling to challenge the U.S. SEC’s regulatory stance on cryptocurrencies. The court previously ruled that the SEC failed to prove that BNB’s secondary sales were securities in the Binance case, winning legal support for Coinbase and Ripple.
In separate case filings over the past few days, Coinbase and Ripple have cited a lack of clarity in how cryptocurrencies should be regulated.
Coinbase stressed that the SEC needs to conduct rulemaking to clarify the legal status of digital assets, while Ripple pointed out that the ruling shows that handling the crypto industry on a case-by-case basis may not be the most effective approach. The ruling has exacerbated legal uncertainty in the industry, prompting all parties to accelerate their efforts to seek confirmation and guidance from the courts and the appellate process. The SEC's legal disputes with Ripple, Coinbase, and Binance are still ongoing, and future scheduled meetings are expected to have an important impact on the progress of these cases.
Telegram introduces the ability for channel owners to post paid photos and videos that users can purchase with Stars
Telegram CEO Pavel Durov wrote that a recent Telegram update introduced the ability for channel owners to post paid photos and videos, which users can purchase with Stars.
Like mini-program developers, channel owners can redeem the Stars they collect for Toncoin at almost no cost to Telegram.
In addition, the latest version of Telegram includes other features, such as the ability to fold and switch between multiple mini-programs when using them, new tags for public stories, and location search.
Circle: Non-compliant stablecoins will “disappear” from the EU in the short to medium term
Circle said that stablecoins that do not comply with MiCA regulations will “disappear” from the EU market in the short to medium term.
Circle on Monday became the first global stablecoin issuer to be licensed in the European Union.
With the launch of the EU Markets in Crypto-Assets (MiCA) regulation, Circle’s EU strategy and policy director Patrick Hansen and chief strategy officer Dante Disparte expect a “transformative” year ahead for the European crypto market.
On July 2, nine US Bitcoin ETFs increased their holdings by a total of 2,372 Bitcoins
Lookonchain monitors the US spot Bitcoin ETF data on July 2 and shows:
1. Fidelity increased its holdings by about 1,028 bitcoins, worth more than $62 million, and currently holds 168,490 bitcoins, worth about $10.5 billion;
2. Grayscale sold 487 bitcoins, worth about $30.32 million. It currently holds 275,271 bitcoins, worth about $17.15 billion.
3. 9 Bitcoin ETFs increased their holdings by a total of 2,372 Bitcoins, worth approximately US$147.78 million.
President of The ETF Store: Ethereum spot ETF may be launched in the week of July 15
Nate Geraci, president of The ETF Store, posted on the X platform that BBG insists that the Ethereum spot ETF will be issued in mid-July. The revised S-1 will expire on July 8, and the final version of the S-1 may be submitted before July 12. In theory, this means that the relevant ETF will be launched in the week of July 15.
Bloomberg Analyst: Nine Bitcoin ETFs Account for 66% of Total Assets of All ETFs Launched in the First Half of 2024
Bloomberg ETF analyst Eric Balchunas wrote on the X platform that 296 ETFs were launched in the first half of 2024, and the nine Bitcoin ETFs accounted for 3% of the total, but their assets accounted for 66% and their organic traffic accounted for about 75%.
Head of FX and Digital Asset Research at Standard Chartered Bank: Bitcoin may hit a record high in August and exceed $100,000 during the US election
Jeffrey Kendrick, head of FX and digital asset research at Standard Chartered, said that “Bitcoin prices are likely to hit new highs in August and surpass $100,000 by Election Day in the U.S..” Kendrick’s prediction depends on whether Joe Biden continues to run for the U.S. presidency — a scenario that the market sees as favoring a Trump victory. Standard Chartered analysts see Trump as “positive for Bitcoin,” noting that the former president’s chances of being elected are positively correlated with Bitcoin’s price. “The logic here is that both regulation and mining will be treated more favorably under Trump,” Kendrick added.
Binance: Service updates in accordance with Turkey's new cryptocurrency regulations, all direct marketing activities to local users will be stopped
According to the official announcement, Binance announced that it will update its services in accordance with Turkey's new cryptocurrency regulations. All direct marketing activities for local users will be completely stopped, and the Turkish language option of Binance.com services will be gradually closed within 3 months. Binance said that it has been closely following regulatory developments in Turkey and believes that cooperation with regulators is essential to ensure that all users can enjoy a compliant environment. Binance will strongly support the development of a regulatory framework for the industry to protect the ecosystem, so it is taking all necessary measures to ensure compliance with the law in Turkey and globally.
