Here’s a lowdown of the biggest events in the crypto world last week:
Bitcoin Crosses $108K, But Sellers Are Fighting Hard 😬
Bitcoin fell below $100K the other week, but the story quickly changed some days after, as the Bitcoin price crossed $108K briefly on Friday 🚀. Even though I personally don’t have 1 BTC to my name (yet 😅), the possibility of a new bull run sounds exciting.
But hey, the sellers aren’t giving up without a fight. As the bulls intensify their buying efforts, the bears are throwing serious volume in the opposite direction, taking the BTC price down to around $107K 📉. This has left many wondering what the next Bitcoin move would be — higher up or lower down 🤔.
But, history says July has a bullish vibe to it. Over the last decade, Bitcoin has gained by an average of 11% in July, with 7 out of 10 months showing positive returns. Signs show gains could be higher this year, but stay sharp and don’t YOLO your entire capital into BTC ⚠️.
Altcoins Brace for New ETFs 📊
If you predicted that altcoins would go up alongside BTC, you’re spot on ✅! Last week was a reawakening for most alts, with virtually all of them now back in the green zone. Ethereum (ETH) crossed $2,500 during the week, and other top tokens like Ripple’s XRP, Solana (SOL), and Hyperliquid (HYPE) have increased by nearly 12%, 16%, and 15%, respectively, within the last 7 days 📈.
But many altcoin investors are excited about the possibility of their assets surging, as the US Securities and Exchange Commission (SEC) has a decision to make about Grayscale’s bid to launch a full crypto index exchange-traded fund (ETF) 🏦.
Unlike a Bitcoin or Ether ETF that allows you to invest in one asset, the Grayscale index ETF will include small fractions of altcoins, including XRP, SOL, and Cardano (ADA). That means more institutions can invest in these tokens and drive up their prices. The approval deadline for Grayscale’s demand is July 2. Will it be a yes or no? Fingers crossed 🤞.
A US Company Got Approval to Sell Blockchain-Based Shares 🇺🇲
Dinari, a tech startup in the US, became the first company to offer blockchain-based US stocks to American investors. The company secured a broker-dealer registration and has beaten crypto companies like Coinbase and Kraken to selling tokenised stocks called dShares 💹.
Dinari is working with the US SEC before going live with its offering, so it’s aiming to make its tokenised stocks available in the coming months 🚀.
Disclaimer: This content may cause extreme FOMO (Fear of Missing Out). Side effects of investing include sudden wealth (or, you know, the opposite 😢).
Please do your own research (DYOR) or speak to your financial advisor before making any decisions.
