The main news of the cryptocurrency market.

An analyst at Bloomberg predicted a rise in bitcoin to $ 12,000.
Mike McGlone from the Bloomberg analytics team, drew attention to the emergence of a factor that should bring Bitcoin closer to $ 12,000. This expert has repeatedly pointed out the huge potential of the largest cryptocurrency. In early June, McGlown expressed the opinion that by the end of this year BTC will be able to test the values ​​at $ 20,000. This week, a Bloomberg analyst published a review in which he noted the positive value of such a factor as the increase in the number of active bitcoin addresses. He referred to Santiment team data. Platform experts said that the number of daily addresses on the Ethereum network interacting with BTC reached a two-year maximum (1.07 million). The last time around the same number of wallets interacted in mid-January 2018. McGlone noted that the data presented indicates an improvement in the fundamental indicators of cryptocurrency. He also added that increasing the number of active bitcoin addresses is an important signal for the resumption of coin growth. The result of the new BTC rally should be $ 12,000. The analyst also refers to the data of CoinMetrics service, which reported earlier that the number of unique bitcoin wallets has reached an annual maximum. The last time such factors appeared, Bitcoin was able to break out of its “bear paws” and resumed expansion.


Coinbase Custody will add ADA staking after launching the Shelley update.
Coinbase Custody, a custodial division of the Coinbase cryptocurrency exchange, will add ADA (Cardano) cryptocurrency support and its staking.
This was reported by IOHK, the developer of Cardano. Through collaboration with Coinbase Custody, users can safely store their assets in cold wallets. The service will be available this fall after the deployment of the Shelley update.
IOHK CEO Charles Hoskinson said Cardano will open access to financial services and investments to the general public, while Coinbase Custody will provide a storage solution that can be used not only by individuals, but also by organizations. On July 3, IOHK announced the launch of the Shelley update, introduced the Atala PRISM decentralized lending system, and opened a $ 20 million developer fund in partnership with Wave Financial Group. In addition, in April Coinbase Custody planned to add DOT coin staking after the launch of the Polkadot blockchain.

LeadBlock Partners: “Ethereum, Hyperledger and Corda blockchains are leading in Europe.”
According to LeadBlock Partners venture capital fund, most European startups use the Ethereum, Hyperledger and Corda blockchains. At the same time, projects feel a lack of funding.
LeadBlock Partners conducted a survey among 200 European firms. According to the presented report, 27% of young companies use solutions based on the Ethereum blockchain, 20% use Hyperledger technology and 16% - Corda. Less than a third (28%) of the blockchain firms surveyed work in the financial industry. In addition, blockchain is in demand among European companies working in the field of healthcare, energy and agriculture.
Researchers noted that Europe is far behind the United States in terms of financing blockchain-based projects. The amount of assets held by European venture funds investing in blockchain does not exceed 100 million euros. For US funds, this figure exceeds $ 2 billion. According to a LeadBlock Partners report, startups are already experiencing a lack of funding, and for further development in the next 18 months they will need about 350 million euros. Experts attribute this to the fact that most European investors do not see the difference between cryptocurrencies and blockchain technology, and some investors have no idea about the blockchain or are negative about it.

CoinGecko: Spot cryptocurrency trading volumes fell 55% in the second quarter.
Cryptocurrency market capitalization in the second quarter grew by 44.5%, while spot trading volumes fell by 55%. This is stated in the latest report of the analytical service CoinGecko.
The graph below shows the inverse correlation of both indicators:
“Historically, market capitalization and spot trading volumes have been positively correlated. But, most likely, the trend changed in the second quarter of 2020, ”experts say.
In their opinion, there are several reasons for this situation:
- an increase in the number of supporters of long-term asset retention (“hodlers”);
- deterioration in market sentiment after the March "Black Thursday";
- focusing many market participants on the decentralized finance (DeFi) market.
In general, the II quarter was successful for the two largest cryptocurrencies - Bitcoin and Ethereum, whose prices rose by 69.3% and 42.5%, respectively.


CoinGecko introduced a rating of bitcoin exchanges with real trading volumes.

The analytical service CoinGecko introduced the so-called “Trust Score”, which shows the normalized trading volumes of cryptocurrency exchanges. This was reported to ForkLog magazine by service representatives.
The Trust Score methodology involves the integrated use of various techniques, including the analysis of web traffic and order logs (spread between Bid and Ask prices, an estimate of the volume of an order required to move the price by 2%), as well as Bitwise data on ten reliable exchanges.
More details:


Justin Sun called the Oikos project on the Tron blockchain risky.

Tron CEO Justin Sun refused to support the Oikos project, developed on the basis of the Tron blockchain, and urged investors to refrain from buying OKS tokens.
Sun wrote on Twitter that this Defi project was developed by members of the Tron community, and the Oikos smart contract has not been officially audited, so investing in this project can be very risky due to the threat of hacking. Sun added that neither he nor the Tron Foundation are responsible for any losses that users may incur while working with Oikos. It is reported that this project has already become popular among the Chinese crypto community.
After placing on the and MXC exchanges, including following Justin Sun's recommendations, the OKS token exchange rate quadrupled over the course of several days. However, due to Sana’s recent comments, OKS's value has dropped by 30% in minutes.
Oikos management, in turn, said that Sun changed his attitude towards the project after unsuccessful negotiations on the sale of OKS tokens on his Poloniex cryptocurrency exchange. According to the conditions put forward by San, Oikos was supposed to sell 10 million OKS at a minimum price of 0.025 USDT per token. This situation did not suit the leaders of Oikos, so they were forced to refuse to cooperate with San. This incident sparked heated discussion among Chinese cryptocurrency users. Some are convinced that Oikos has circumvented Justin Sun's project - Just - and now Sun requires "payback."

The correlation of Bitcoin and the S&P 500 has reached a historic high.
On June 30, the correlation of the price of the first cryptocurrency with the "barometer of the American economy" with the S&P 500 index reached a historic maximum at 66.2% after several months of growth.
According to the analytical portal Skew, the figure is still above 65%.
Before its rapid take-off for 12 months, the indicator ranged from -30% to 50%. The annual correlation reached above 37%, also the highest in the entire history of observations.
“Bitcoin remains a risky asset in every way. And while some compare its fundamental characteristics with gold, BTC has not yet proven to be a hedging or safe asset during periods of increased risk, ”said Stack co-founder Matthew Dibb.
According to him, the increasing correlation between BTC and the stock market is a bullish signal for cryptocurrency, as "global markets benefit from unprecedented monetary incentives."
“After halving, many long-term holders are sure that the median price of bitcoin should be above current levels. Because of this, there is a tendency to long-term asset retention until the market starts to accelerate again, ”said Wayne Chen, head of fintech company Interlapse Technologies.


Bitcoin and Ethereum provide 99% of the income of all miners.
Bitcoin and Ethereum account for more than 99% of the commissions received by all miners. This was reported by the research company Messari. Over the past 24 hours, the total amount of commissions in the bitcoin network has reached $ 407,571. Ethereum has a much higher rate of $ 814,082. Analysts added that using most blockchains is “virtually free”.
In third place is NEO, where the daily commissions amounted to $ 1800. For Litecoin, the fourth position, this figure was $ 376.
The problem of high commissions on the Ethereum network is noted by many analysts. The median has increased 10.3 times in the last three months, reaching $ 0.337.
In the Bitcoin network, in contrast, there is a decrease in the cost of the commission. If on May 20 the median reached $ 3.915, now this figure has dropped to $ 0.875.
Recall, on June 30, at block # 637 056 in the bitcoin network, the planned recalculation of mining complexity took place. The indicator has undergone the most insignificant change since March 22, 2010, having decreased by only 0.0033%

Since 2013, a total of 134 M&A transactions have been conducted within the blockchain sector, with a reported total value of approximately $2.7 billion.

More than $180 billion in bitcoin was transacted on-chain during 2020's Q2
As shown in the chart below, in the second quarter of 2020, users transacted more than $180 billion in bitcoins. That amounts to an average of $1.98 billion per day.


Total USDC supply crosses 1 billion after token supply surge in June.
The total supply of stablecoin USDC surpassed 1 billion on July 1, network data shows. The stablecoin, issued by the CENTRE consortium backed by Coinbase and Circle, experienced a supply surge in June when its total jumped 37% from 730,920,001 to 1,002,228,740. The number also represents a 93% increase from the beginning of the year.


Monthly volumes for DEXs soared past $1.5 billion to hit all-time high in June.


Decentralized exchanges saw their busiest month ever in terms of trade volume, according to new market data.
The raw figures, collected from Dune Analytics, show that DEXs posted a monthly volume of $1.51 billion for June. This represents a month-over-month increase of 70%
Decentralized exchanges saw their busiest month ever in terms of trade volume, according to new market data.
The raw figures, collected from Dune Analytics, show that DEXs posted a monthly volume of $1.51 billion for June. This development represents a month-over-month increase of 70% – compared to May's $894.2 million – and a 46% increase over the previous all-time high in March, which came in at $1.03 billion.
As the data shows, June's volume data represents the second time that trade activity surpassed the $1 billion mark. By comparison, June 2019 saw a DEX trade volume of $325.9 million.


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