Markets

The market capitalization of the largest stablecoin – USDT – recently tapped an all-time high of $83.76 billion (according to the crypto analysis firm IntoTheBlock). Other data aggregators, though, showed that the asset had increased well beyond that level earlier this month. Stablecoins have performed quite well lately, and USDT continues to dominate the entire field. The combined market capitalization of the six biggest such tokens spiked last month to almost $125 billion....

The Federal Reserve rose its target interest rate by 25 basis points on Wednesday, in line with market expectations. This brings the central bank’s rate to over 5.25% – one of its highest levels since the lead-up to the 2008 financial crisis. The latest hike marks the Federal Reserve’s 11th rate hike over its last 12 policy meetings dating back to March 2022. The central bank’s mission over the past year has been to quell once rampant inflation, which peaked at 9.1% in June...

Bitcoin whales typically capture the stagnant market conditions to accumulate more coins. This trend continued even during the underwhelming price performance of Bitcoin in recent months, as new analysis suggests a dramatic uptick in whale activity during the period. Glassnode’s latest edition of “The Week On-Chain,” observed that the aggregate Whale balance has declined by approximately 255k BTC since May 30. This was found upon isolating coins flowing between Whale entities...

The low-cap crypto market has seen an uptick in momentum, with an array of new tokens catching investors’ attention. Three of the most talked-about tokens this week are $BITCOIN, $WLD, and $HAMS, all of which are trending on DEXTools. However, crypto investors are also taking note of Evil Pepe Coin ($EVILPEPE), which looks primed to pump once its presale phase concludes. $X Token Rides Elon Musk Hype Train & Surges 287% First up is AI-X ($X) – a new ERC-20 token aimed at...

According to the crypto market data provider Kaiko, Bitcoin’s correlation with the S&P 500 Index has dropped to a two-year low at just 3%, highlighting the asset’s increasing independence from traditional finance.  Some experts have argued over the years that such a development could act as a catalyst and push BTC’s price to a new all-time high. As revealed by Kaiko, the last time Bitcoin’s correlation with the S&P 500 Index stood at 3% was in August 2021. 📈👀...

CoinspeakerAlphabet Records Cloud Unit Growth amid Google AI Plans Sundar Pichai revealed that the company was planning to use new AI models to automate some customer services.  Alphabet Records Cloud Unit Growth amid Google AI Plans

An appeal by the U.S. Securities and Exchange Commission (SEC) against Judge Analisa Torres’ ruling on XRP will affirm the decision, according to Stu Alderoty, the chief legal officer (CLO) of Ripple Labs. During an interview with TechCrunch’s Chain Reaction, Alderoty said the judge’s decision was right as it was a “faithful application of the law.” SEC Appeal to Amplify XRP Ruling Recall that the SEC hinted at a potential appeal to Judge Torres’ decision about a week after...

CoinspeakerUK Judge Asks Craig Wright to Pay Over Half-Million Dollars in Case against Coinbase, Kraken The UK Judge said that Craig Wright won't be able to pay the legal costs while mentioning his previous inconsistent statements about his financial position.  UK Judge Asks Craig Wright to Pay Over Half-Million Dollars in Case against Coinbase, Kraken

CoinspeakerStellantis Sets New Pace with Top Performance in H1 2023 Stellantis reaffirmed its 2023 guidance and raised its growth outlook for Europe, the Middle East, and Africa from 5% to an impressive 7%. Stellantis Sets New Pace with Top Performance in H1 2023

CoinspeakerNBA Star Jimmy Butler Seeks Dismissal from $1B Binance Class Action Lawsuit The NBA star's involvement in Binance's marketing campaign drew significant attention, considering his status as a prominent figure in professional basketball. NBA Star Jimmy Butler Seeks Dismissal from $1B Binance Class Action Lawsuit