Crypto Market Update – July 2023

August 16, 2023

July has been a pivotal month in the #crypto landscape:

  • PayPal takes a significant leap into the stablecoin arena by launching PYUSD, a dollar and treasuries-backed stablecoin, enhancing its offerings for its vast customer base.
  • Worldcoin makes waves as its Mainnet goes live, introducing the WLD Token to the crypto community.
  • Speculations are rife about Bitcoin’s potential price surge, with analysts predicting a significant rally leading up to its scheduled halving in 2024.

These developments, among others, continue to shape the trajectory of the digital asset market, reinforcing the notion that cryptocurrency remains a dynamic and ever-evolving space.

 

ACROSS THE HEADLINES

PayPal launches its own U.S. dollar-backed stablecoin
“PayPal (PYPL) is entering the crypto space, announcing the launch of its own stablecoin. The coin will be backed by the U.S. dollar, short-term U.S. treasuries, and other cash equivalents.”

Worldcoin’s Mainnet, WLD Token Goes Live
“WLD surged on crypto exchanges, adding more than 20%, according to CoinGecko data.”

Bitcoin could soar to $180,000 before the April 2024 halving as potential BlackRock ETF helps drive demand, Fundstrat says
“The price of bitcoin could soar 521%from current levels to $180,000 before the cryptocurrency’s scheduled halving in April 2024, according to a Monday note from Fundstrat.”

Worldcoin just officially launched. Here’s why it’s already being investigated
“The project is backed by some of tech’s biggest stars, but four countries are probing its privacy practices.”

VegaProtocol Alpha Mainnet: Revolutionizing DeFi and Decentralized Trading
“By leveraging the power of smart contracts and a high-performance blockchain network, Vega’s platform enables users to create, trade, and access a wide range of financial products.”

HouseRepublicans introduce much-awaited US crypto market overhaul
“SeniorHouse Republicans have formally introduced a bill that would change how crypto markets work in the U.S., including mandating that markets regulators issue rules defining “blockchain” and “digital asset” within existing financial laws and create new rules for digital asset exchanges.”

Crypto regulatory bill advances to House floor
“On Wednesday, two separate pieces of legislation achieved something no other crypto regulatory bill had before — a vote in Congress.”

BitcoinTrading in Japan Rises as Yen Turns Volatile
“The share of bitcoin trade volume on Japanese exchanges rose from 69% to 80% in the first six months of the year, data tracked by Kaiko show.”

“That’s Our Two Satoshis” - The Manifestation of Real World Assets (RWAs) in Crypto
“From an investing perspective, tokens backed by RWAs aren’t that interesting yet.“

How can Web3 bring financial freedom closer to reality for freelancers across the globe?
“Web3 platforms can now address major concerns on traditional freelance boards using decentralized technology and crypto.”

Binance completes integration of Bitcoin Lightning Network
“Cryptocurrency exchange Binance has completed the integration of the Bitcoin Lightning Network on its platform for BTC withdrawals and deposits.”

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