Daily Market Wrap
Crypto market cap: 0.91 trillion, up 4.82%
BTC price stands at USD 20,289, up 5.83%
ETH price stands at USD 1,147, up 7.21%
Top gainer:Convex Finance (CVX), up 19.76%
Top loser: TerraClassicUSD (USTC), down 12.19%
News of the Day
Why it matters:
Argentina saw the price of dollar-pegged stablecoins rise across exchanges on Saturday after the shocked resignation of its Economy Minister
Argentina has long been struggling with rising inflation and the continued decline of the peso (local currency) against the U.S. dollar
Argentineans have been billing using crypto as a means to hedge against the country’s inflation
Crypto Daily Spotlight
Brief introduction: Cardano is a public blockchain platform. It is open-source and decentralised, with consensus achieved using proof of stake. The Cardano blockchain can be used to build smart contracts, and in turn, create decentralised applications and protocols.
Why it matters:
On July 3, Cardano (ADA) successfully conducted a hard fork of its testnet ahead of the upcoming Vasil upgrade
The Vasil hard fork is one of the primary features of Cardano’s Basho phase, which is the fourth in a series of five of the network’s building eras
The previous three were the foundation (Byron), decentralisation (Shelley), and smart contracts (Goguen) phases, while the Basho phase aims to improve Cardano’s scalability
Daily Sector Tracker
Daily News Roundup
Voyager Digital Seeks ‘Strategic Alternatives’ To Its Recent Halted Withdrawals https://bit.ly/3OZ8unP
GBTC’s Discount Saw A New Record Low After SEC Rejecting Its Bitcoin Spot ETF Application https://bit.ly/3OKYOOc
Circle Taps New York Community Bank as its Latest Custodial Provider for USDC Reserves https://bit.ly/3AmYNe
KuCoin CEO Allayed Rumours of Withdrawal Halt on Twitter https://bit.ly/3a8SFMR
Singapore-based Crypto Vauld Halts Client Withdrawals https://bit.ly/3nCAdPI
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