Data: Institutions are now more involved with Bitcoin than ever before
BTC $11,220 (+2.2%) • ETH $321 (+1%) • XRP $0.247 (+6.7%)
|CryptoSlate||Jul 29|| 2|
Bitcoin’s price has been caught within a strong uptrend throughout the past week. It appears that the fundamental strength the crypto has established over the past few months is starting to be reflected in its price.
Its latest push higher comes about against an unprecedented backdrop of loose fiscal policies from governments across the globe, as well as strong uptrends seen across multiple markets – including equities and commodities.
Bitcoin – like gold – has many of the hallmark traits of being a “hard asset” and as such, investors appear to be adding exposure to it as the global economy enters uncharted waters.
Data shows that institutions, in particular, are becoming increasingly involved with the crypto markets, as trading activity on the CME has reached levels never seen before.
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The Shelley hard fork of Cardano (ADA) set to happen later today could send the price of ADA spiraling upwards.
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Litecoin — long heralded as the “digital silver” to Bitcoin — led gains in border crypto market this week as the DeFi boom, poor economic outlook in traditional markets, and the rise of gold sparked somewhat of a crypto run.
The DeFi market has exploded in recent times, bringing back ICO-like returns on some projects.
Ethereum’s much-awaited validator testnet was launched yesterday, as per a release on the site’s official blog.
Blockchain platform GamerHash said it is integrating Chainlink data feeds for fair pricing, according to a partnership announced Tuesday.
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