The Cryptomarket Reaching All-time lows of 3 years

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With the current movement of Bitcoin (BTC), we can say that trend hasn’t reversed at the moment. Today BTC dropped down to $19k. Ethereum (ETH) has shown a similar movement and dropped as well to $1.05k. NFT market is also down. Even the most notable projects are having their floor prices dropped.

Read on to get an insight into what is happening in the market to have a better understanding of the current market conditions.

Highlights of the Week

The week has been just fine for the crypto market. Following are the highlights:

  • Bitcoin (BTC) has dropped down to touch the mark of $19.2k. At the time of writing, BTC is being traded at the price of $19.3k. The price has overall dropped by almost 4%.
  • Ethereum (ETH), similar to BTC has also shown bearish movement with its price dropping down to $1,052. The price has dropped by almost 7% in the past 24 hours.
  • MakerDAO, the backer of the Dai (DAI) stablecoin, reported that it is deciding on the most proficient method to apportion DAI 500m (USD 500m) of depository assets into interests in US Treasury bills and bonds.
  • Crypto custody solution Anchorage said it launched staking on Ethereum (ETH) for organizations.
  • Crypto bank BlockFi reported that they have accepted their Money Services License in Iowa, USA. This implies that Iowa inhabitants can now exchange stablecoins on their foundation.
  • Marathon Digital declared that, on Tuesday, the organization’s mining tasks in Montana, USA, were passed on without power because of a storm.
  • A well-off ex-pat Salvadoran is set to support a USD 200m sunlight based fueled Bitcoin (BTC) mining office.
  • Michael Saylor’s organization MicroStrategy enjoys taking benefit of the present low bitcoin (BTC) cost by adding another BTC 480 to its balance sheets.
  • TRON client accounts have reached 100,048,526, authoritatively breaking the 100 million roof, as indicated by information from the blockchain program TRONSCAN, as of June 25.
  • Ronin (RON), Ethereum (ETH) sidechain constructed explicitly for the play-to-procure game Axie Infinity (AXS), declared the resuming of its Ronin Bridge after it was stopped following a significant hacking episode in March this year.
  • The assets from cross-chain span supplier Harmony’s Horizon Bridge hack have started to move into the Tornado Cash ether blender, which might imply that the assailant in no way wants to acknowledge the USD 1m bounty.
  • Institutional digital assets information supplier Kaiko brought USD 53m up in a Series B financing round drove by Eight Roads. The returns of the subsidizing will be utilized to grow Kaiko’s worldwide presence, they said
  • KuCoin reported it will offer euro exchanging matches against bitcoin (BTC), Ethereum (ETH), and Tether (USDT) as a feature of its development in the European market, with the new coordinates to open up on the KuCoin spot market that began on June 28th.

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