A smooth week without any “quantum leaps.” Hello everyone, we are back with the Lumi team and our weekly digest. As mentioned above, this week, the prices of currencies have not changed much and we are in the red zone. Let’s talk about the main currencies. Bitcoin is holding around $32-33k, but it is worth noting the “BTC whales” behavior in the market. Now they are accumulating assets again. The number of BTC owned by investors who control wallets from 1,000 to 10,000 BTC has grown by more than 80,000 coins to 4.216 million BTC, reaching its highest level since mid-May.

Some experts note that this is positive news for the market because whales played a very important role in the growth of the first cryptocurrency from $10,000 to $60,000, after which they took the side of sellers.


Crypto News Weekly Digest 3 - 9 July

Ethereum floated between $ 2100-2400k all week. The upcoming Ethereum 2.0 phase update has been fueling the hearts of ETH holders all week. We can see that Ethereum reserves on all exchanges have reached a 2.5-year low. Such a washout is associated with an increase in staking at ETH2.0. You also need to understand that a decrease in exchange liquidity can lead to a rise in volatility.

Crypto News Weekly Digest 3 - 9 July

It’s also worth taking a look at the cryptocurrency rating on Сoinmarketcap. The top 5 cryptocurrencies are closed by Cardano (ADA), overtaking the most popular currency of early 2021 DOGE, and with Ripple, whose litigation has lasted several months.

Note that the LUMI team is considering a Cardano listing soon, so stay tuned for our news.

Crypto News Weekly Digest 3 - 9 July

If we are standing still from an economic point of view, then the news agenda is pushing the cryptocurrency community to new thoughts. It’s time for us to remember what happened this week. We present the main news of the outgoing week. Are you ready? Let’s go!

TOP NEWS

1. Aave launched a DeFi protocol targeting institutional investors. 

2. The Security Council of the Russian Federation will fight against the illegal use of cryptocurrencies. The new edition of the National Security Strategy will resolve issues related to the circulation of weapons. It will also allow fighting against “the use of digital currencies for illegal purposes”. However, no one has specified how this will work and what will be meant by illegal purposes.

3. Elon Musk is not alone in being accused of manipulation. Former Google employee and famous YouTube blogger with 1.1 million subscribers, Patrick Shue, was accused of organizing a Pump & Dump scheme, due to which investors lost about $2 million.

4. Goldman Sachs: Ethereum may surpass Bitcoin as a store of value. Wall Street investment bank analysts reaffirmed their optimistic stance on the second largest crypto asset and said Ethereum currently looks like the digital asset with the highest real use potential. Bitcoin has a stronger brand, however, the first cryptocurrency lacks some of the technical features that Ethereum owns.

5. Binance lock. The British branch of Santander Bank has notified customers that it will block payments to the Binance cryptocurrency exchange from their accounts. Also, the Chinese authorities have blocked the Binance website. In China, the site application has stopped working. Now Chinese users can only use the service anonymously through a VPN.

Plus, it became known about the suspension of accepting deposits in euros through SEPA. Binance CEO stated that Binance is currently “the only crypto exchange that uses a responsible trading program.”

As part of further improving compliance policies, CZ identified three areas:

  • Adapting the business to the requirements of local regulators
  • Expanding the international compliance team
  • Increasing the number of reliable agreements

6. How is Bitcoin changing minds?  Bank of America has bashed the crypto industry, especially Bitcoin, for years. A couple of months ago, he wrote that Bitcoin is “too volatile and impractical.” NOW: BofA has reportedly set up a crypto research team.

7. The deputy of the Parliament of Argentina, Jose Luis Ramon, presented a bill that, if adopted, will allow employees to receive wages in bitcoin and other cryptocurrencies.

8. The Movie “Zero Contact”, which stars two-time Academy Award winner Anthony Hopkins, will debut on Vuele’s non-fungible token (NFT) platform. Now the number of fans will increase at least twice.

9. About 93,000 users paid for 172 non-working Android applications for cloud mining of cryptocurrencies. This was reported by specialists from Lookout. Be careful not to be fooled. How to protect yourself in such a situation and not get caught by scammers can be found in our articles.

10. Let’s slightly dilute the news agenda with a funny case from crypto practice. A new trader is gaining popularity on Twitch: the hamster Mr. Goxx. He has a cage adapted for trading cryptocurrencies. Mr. Goxx has already made 49 orders (34 long positions and 15 short ones) with a total volume of 1,327 euros.

11. Also, do not forget about the news in the LUMI company. This week we added a new token – QUICK and now you can buy PAXG via card or Apple Pay. The main weekly news: LUMI also released a long-awaited article about AppStore.

Stay tuned to our wallet, enjoy the usable interface and transaction security, and check back for updates and news on Twitter, Telegram, Facebook, Redditand LinkedIn. Let’s learn the cryptocurrency market together step by step!