Three Arrows Capital co-founder Kyle Davies called it a “shadow recovery process” during a July 3 Twitter Spaces.
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HK crypto ETFs on fire, Binance warns on Maverick FOMO, Poly hack: Asia Express
Hong Kong crypto ETFs’ rise to popularity
During a June 28 interview with Hong Kong’s public broadcast agency Radio Television Hong Kong, Peishan Li, chief executive and board member of Hang Seng Investment Management, disclosed that digital asset ETFs listed in the Special Administrative Region (SAR) of China have now surpassed $12 billion Hong Kong dollars ($1.532 billion) in assets under management (AUM). Li noted:
“At present, there is no clear goal [from our firm] to create an ETF with the theme of virtual assets, but it has paid close attention to the development of related asset classes, and is examining the possibility of deploying virtual currencies in existing investment products.”
According to figures provided by Li, the total AUM of Hong Kong crypto ETFs grew by 80% compared to Dec. 2022, with a daily trading volume of $1.7 billion HKD. This represents 6% of the daily trading volume of all stocks on the Stock Exchange of Hong Kong. The SAR previously allowed the listing of crypto ETFs in July 2022, which initially struggled in traction.
Binance co-founder warns of altcoin rout
On July 2, Binance co-founder and former Chinese television host Yi He warned “please don’t trust the community’s trading signals [that] blindly chase higher prices,” noting the price of major altcoins “have fallen by 80% to 90%” in recent times. The warning came just days after the exchange listed MAV, a permissionless decentralized finance token, and offered perpetual MAV contracts at 20x leverage.
Launched in March of this year, Maverick boasts an advanced automated market maker liquidity provider network, securing a $9 million founding round in June. The protocol is backed by prominent names such as Jump Crypto, Pantera Capital, Circle, and Gemini. Since its launch, the protocol has reached nearly $55 million in total value locked.
HK crypto ETFs on fire, Binance warns on Maverick FOMO, Poly hack: Asia Express
Hong Kong crypto ETFs’ rise to popularity
During a June 28 interview with Hong Kong’s public broadcast agency Radio Television Hong Kong, Peishan Li, chief executive and board member of Hang Seng Investment Management, disclosed that digital asset ETFs listed in the Special Administrative Region (SAR) of China have now surpassed $12 billion Hong Kong dollars ($1.532 billion) in assets under management (AUM). Li noted:
“At present, there is no clear goal [from our firm] to create an ETF with the theme of virtual assets, but it has paid close attention to the development of related asset classes, and is examining the possibility of deploying virtual currencies in existing investment products.”
According to figures provided by Li, the total AUM of Hong Kong crypto ETFs grew by 80% compared to Dec. 2022, with a daily trading volume of $1.7 billion HKD. This represents 6% of the daily trading volume of all stocks on the Stock Exchange of Hong Kong. The SAR previously allowed the listing of crypto ETFs in July 2022, which initially struggled in traction.
Binance co-founder warns of altcoin rout
On July 2, Binance co-founder and former Chinese television host Yi He warned “please don’t trust the community’s trading signals [that] blindly chase higher prices,” noting the price of major altcoins “have fallen by 80% to 90%” in recent times. The warning came just days after the exchange listed MAV, a permissionless decentralized finance token, and offered perpetual MAV contracts at 20x leverage.
Launched in March of this year, Maverick boasts an advanced automated market maker liquidity provider network, securing a $9 million founding round in June. The protocol is backed by prominent names such as Jump Crypto, Pantera Capital, Circle, and Gemini. Since its launch, the protocol has reached nearly $55 million in total value locked.
HK crypto ETFs on fire, Binance warns on Maverick FOMO, Poly hack: Asia Express
Hong Kong crypto ETFs’ rise to popularity
During a June 28 interview with Hong Kong’s public broadcast agency Radio Television Hong Kong, Peishan Li, chief executive and board member of Hang Seng Investment Management, disclosed that digital asset ETFs listed in the Special Administrative Region (SAR) of China have now surpassed $12 billion Hong Kong dollars ($1.532 billion) in assets under management (AUM). Li noted:
“At present, there is no clear goal [from our firm] to create an ETF with the theme of virtual assets, but it has paid close attention to the development of related asset classes, and is examining the possibility of deploying virtual currencies in existing investment products.”
According to figures provided by Li, the total AUM of Hong Kong crypto ETFs grew by 80% compared to Dec. 2022, with a daily trading volume of $1.7 billion HKD. This represents 6% of the daily trading volume of all stocks on the Stock Exchange of Hong Kong. The SAR previously allowed the listing of crypto ETFs in July 2022, which initially struggled in traction.
Binance co-founder warns of altcoin rout
On July 2, Binance co-founder and former Chinese television host Yi He warned “please don’t trust the community’s trading signals [that] blindly chase higher prices,” noting the price of major altcoins “have fallen by 80% to 90%” in recent times. The warning came just days after the exchange listed MAV, a permissionless decentralized finance token, and offered perpetual MAV contracts at 20x leverage.
Launched in March of this year, Maverick boasts an advanced automated market maker liquidity provider network, securing a $9 million founding round in June. The protocol is backed by prominent names such as Jump Crypto, Pantera Capital, Circle, and Gemini. Since its launch, the protocol has reached nearly $55 million in total value locked.
HK crypto ETFs on fire, Binance warns on Maverick FOMO, Poly hack: Asia Express
Hong Kong crypto ETFs grow 80% since December, Binance co-founder warns against FOMOing into MAV with leverage, Poly Network hacked again.
HK crypto ETFs on fire, Binance warns on Maverick FOMO, Poly hack: Asia Express
Hong Kong crypto ETFs grow 80% since December, Binance co-founder warns against FOMOing into MAV with leverage, Poly Network hacked again.
HK crypto ETFs on fire, Binance warns on Maverick FOMO, Poly hack: Asia Express
Hong Kong crypto ETFs grow 80% since December, Binance co-founder warns against FOMOing into MAV with leverage, Poly Network hacked again.
HK crypto ETFs on fire, Binance warns on Maverick FOMO, Poly hack: Asia Express
Hong Kong crypto ETFs grow 80% since December, Binance co-founder warns against FOMOing into MAV with leverage, Poly Network hacked again.
TON blockchain launches on-chain encrypted messaging feature
The Open Network (TON) has released an on-chain encrypted messaging feature, according to a July 3 announcement from the network’s developer, TON Foundation. The new feature allows for private messages to be sent between TON users.
TON is a blockchain network forked from code created by the Telegram instant messaging app team. Telegram abandoned the project in July 2020, before a mainnet was ever launched. However, it open-sourced TON’s code before leaving, allowing others to continue building upon the work it had done.
The current network, called “TON,” was built by the TON Foundation. The foundation claims that the network provides greater scalability and transaction throughput than other options in the Web3 ecosystem while also remaining decentralized.
TON has always allowed users to send messages in transactions. But in the past, these messages were completely public. The new feature allows users to encrypt these messages end to end, making them readable only by the intended recipient.
TON core developer Anatoly Makosov claimed the feature was created to allow for the “personalization” of transactions:
TON blockchain launches on-chain encrypted messaging feature
The network previously allowed users to post on-chain messages but only in an unencrypted, completely public way.
Price analysis 7/3: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC
The United States equity markets have witnessed a solid year so far. The Nasdaq Composite has soared 31.7%, its best first-half performance since 1983. Similarly, the S&P 500 Index’s (SPX) 15.9% gain is its best first half since 2019. This suggests that risky assets remain in demand.
In the cryptocurrency markets, Bitcoin (BTC) has led the recovery from the front, rising 20% in Q2 2023. An encouraging sign is that the rise has not tempted the Bitcoin hodlers to book profits. Glassnode’s Illiquid Supply Change metric is near cycle highs, indicating hodler conviction.
Daily cryptocurrency market performance. Source: Coin360Usually, the leader is the first to emerge from a bear market. If the rally sustains, the sentiment among the traders improves and they start looking at other buying opportunities. After Bitcoin’s rally, the altcoins have started to show signs of life. If the trend continues, several altcoins may rally over the next few weeks.
Will the U.S. equities markets continue their march higher? Could Bitcoin and the major altcoins continue their recovery? Let’s analyze the charts to find out.
S&P 500 Index price analysis
The S&P 500 Index bounced off the breakout level of 4,325 on June 26, indicating that the bulls have flipped the level into support.
Price analysis 7/3: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC
The bulls are trying to nudge Bitcoin above the critical resistance of $31,000, which may start a broad-based crypto rally.
Price analysis 7/3: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC
The bulls are trying to nudge Bitcoin above the critical resistance of $31,000, which may start a broad-based crypto rally.
EU finalizes Data Act with a kill switch for smart contracts: Law Decoded, June 27–July 3
European Union lawmakers have agreed to move ahead with the controversial European Data Act, which has previously drawn criticism from the crypto community.
'A lot of the bad actors have been shaken out of the market' — Bitvo CEO
Bitvo president and CEO Pamela Draper spoke with Cointelegraph at the Collision Conference in Toronto on the firm almost being acquired by FTX and Canada's regulatory environment.
Bitcoin traders torn between breakout and $28K dip as BTC price stalls
BTC price action keeps everyone guessing, while Bitcoin casually marks a major achievement on monthly timeframes.
Bitcoin traders torn between breakout and $28K dip as BTC price stalls
Bitcoin (BTC) lingered below $31,000 at the July 3 Wall Street open, with bulls still in need of a catalyst.
BTC/USD 1-hour chart. Source: TradingViewBitcoin price: Sink or swim at $30,000
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD acting in a tight range following the weekly close.
BTC’s price performance remained firmly sideways into the new week, punctuated only by modest attempts at attacking the $31,000 mark.
More optimistic market participants hoped that nearby resistance levels — and not only for Bitcoin — would soon fall.
“The more frequently a resistance line is tested, the weaker it becomes,” trading team Stockmoney Lizards argued.
UK Law Commission recommends 'distinct' legal category for crypto
The U.K.’s Law Commission highlights four major recommendations to reform laws relating to cryptocurrency use and ownership.
Singapore to require crypto firms to put user assets into trusts by year-end
MAS is also working to restrict crypto service providers from facilitating lending or staking for retail customers, but not for institutional ones.
Singapore to require crypto firms to put user assets into trusts by year-end
MAS is also working to restrict crypto service providers from facilitating lending or staking for retail customers, but not for institutional ones.