![]() ![]() The crypto jumped 8% on July 24 after Tesla (TSLA) and X CEO Elon Musk changed his bio on the popular social media app to include the Dogecoin symbol. ![]() Popular meme cryptocurrency Dogecoin was a top performer in July. In addition to the crypto-specific bills, the Senate approved a massive defense spending bill that included measures to help the Treasury Department crack down on the use of cryptocurrency to finance illicit activities. The HFSC also advanced a comprehensive bill establishing a framework for cryptocurrency regulation, including a clear set of rules to determine whether a digital asset should be classified as a security or a commodity. Current Cryptocurrency LegislationĬongress took steps forward with several pieces of major cryptocurrency regulation legislation in July as investors seek further clarification on industry oversight.įor starters, the House Financial Services Committee advanced a bill that would establish rules surrounding payment stablecoin issuance. The crypto has a market capitalization of roughly $267 million. In its first week of trading, WLD tokens traded in a range of between $1.66 and $3.58, according to CoinMarketCap. ![]() investors, but New York, San Francisco and Miami are among the 30 global cities where people can get their Worldcoin eye scans. WLD tokens are currently unavailable for U.S. Worldcoin’s cryptocurrency began trading under the ticker WLD on July 24, and users who participated in eye scans received free tokens as a reward. Worldcoin’s critics have raised concerns about major security and privacy risks associated with collecting biometric data. The goal of the project is to solve the increasingly difficult problem of determining whether a person posting or interacting on the internet is a real human or artificial intelligence software. The Worldcoin project is focused on assigning users World ID “digital passports” by using iris-scanning biometric imaging devices. Worldcoin was founded by Sam Altman, the CEO of ChatGPT maker OpenAI. Controversial Worldcoin LaunchĬryptocurrency Worldcoin successfully launched in July, and the new crypto is making big waves in the industry. Investors saw the court’s decision in the Ripple case as a positive for Coinbase in its own legal battle with the SEC over allegations Coinbase has been operating as an unregistered exchange and broker. However, the judge found Ripple’s institutional sales of XRP were securities transactions.įollowing the court ruling, popular cryptocurrency exchanges Coinbase (COIN) and Kraken reinstated XRP trading on their platforms.Ĭoinbase’s stock price also jumped following the Ripple ruling. The judge ruled XRP was not a security when it came to sales made through trading algorithms, exchanges or other distribution methods, such as employee compensation. In the new ruling, a judge in the Southern District of New York ruled XRP is “not necessarily a security on its face.” The ruling sent the price of XRP and other altcoins soaring, but the decision wasn’t a definitive victory for Ripple. The SEC had sued Ripple back in 2020, alleging the company breached securities laws by selling its cryptocurrency XRP without properly registering it as a security. XRP Court RulingĬrypto investors got some good news on July 13 when a judge awarded Ripple a partial victory in its legal battle against the SEC. In comparison, Bitcoin’s limited supply and increased mining difficulty over time may support the idea of Bitcoin as a long-term store of value and as an alternative to gold,” DaCruz says. “Central banks around the world have ushered in unprecedented growth in money supply, effectively eroding their currencies’ purchasing value. Kyle DaCruz, director of digital assets product at VanEck, says Bitcoin’s limited supply and scarcity create long-term value for investors. Simultaneously, we are about 9 months away from the next Bitcoin halving event, which historically has always propelled the price up dramatically,” Froehler says. “We are almost done with the interest rate hike cycle, so the current macroeconomic headwinds will soon begin to fade. Morpher CEO Martin Froehler says the 2023 Bitcoin rally could resume in the months ahead. The industry’s market cap now stands at just $1.1 trillion heading into August. ![]() The total market capitalization of the global cryptocurrency market peaked at over $2.9 trillion in November 2021, but it took a big hit during crypto winter in 2022. Ethereum prices are also up 55% so far in 2023. Bitcoin was the worst performer of the month but remains one of the best-performing major cryptos of 2023.īitcoin has gained 75% so far in 2023, putting it on track for its best annual performance since 2020. Among the 10 largest cryptocurrencies by market capitalization, Solana (SOL) was the best July performer with a 56% gain. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |