Author: Editorial Office CVJ.CH

A summarizing review of what has been happening at the crypto markets of the past week. A look at trending sectors, liquidity, volatility, spreads and more. The weekly report in cooperation with market data provider Kaiko. The last 7 days in cryptocurrency markets: Price Movements: Volatility is predicted ahead of the Grayscale Bitcoin Trust “unlockings”. Volume Dynamics: The number of trades executed on decentralized exchanges is de-correlated from the total volume traded, which has dropped sharply in June. Order Book Liquidity: Bitfinex’s market share of order book depth has increased over the past year relative to other fiat exchanges. Macro…

The world’s first Solana ETP (ASOL) is being launched on the regulated market of the Swiss stock exchange (SIX Exchange). The ASOL ETP will also provide additional yield through staking rewards by validating transactions on the Solana blockchain. Solana (SOL) is a highly functional open source project that banks on blockchain technology’s permission-less nature to provide decentralised finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland headed by developer Anatoly Yakovenko. The Solana Protocol One of the essential…

Bitcoin USD daily basis Bitcoin USD Chart Analysis – Another test of the 30,000 support zone At the beginning of the reporting week, Bitcoin continued the trend of continuously lower daily closing prices, which could be observed from the middle of the previous week. Accordingly, the price once again approached the often visited 30,000 support zone. Monday started right away with the biggest price drop of the week, taking Bitcoin to 31,450 USD at the end of the day. This was followed by another decline on Tuesday, which took Bitcoin to new lows last seen at the end of January…

Since 2019, the Austrian Post has been combining the traditional with novel blockchain technology. With the fourth generation of their limited crypto stamp, they are creating a digital twin as an NFT, and adding a chip to the physical stamp. The “Crypto Stamp 3.0” was created as a non-fungible token (NFT) on the blockchain and comes up with additional features. An integrated NFC chip verifies authenticity and opens a URL on the smartphone that displays the state of the scanned stamp. The current Crypto Stamp was issued in the form of a plastic card in credit card format. In addition…

A summarizing review of what has been happening at the crypto markets of the past week. A look at trending sectors, liquidity, volatility, spreads and more. The weekly report in cooperation with market data provider Kaiko. The last 7 days in cryptocurrency markets: Price Movements: A premium emerged on stablecoin markets as Bitcoin and altcoins trended downwards. Volume Dynamics: Korean cryptocurrency exchanges have undergone an exponential surge in volume despite major regulatory hurdles, with daily turnover at times greater than Korean equities markets. Order Book Liquidity: Spreads for BTC-USD markets have been volatile since January 2021. Macro Trends: The Fed’s…

Spain’s second-largest bank, BBVA, is launching a new business for private banking clients in its Swiss arm that will allow investments in alternative digital assets alongside Bitcoin trading and custody services. The banking giant, which was founded in 1857 and has about $870 billion in assets, first tested the service late last year. Banco Bilbao Vizcaya Argentaria (BBVA) noted “significant demand” among investors for digital assets. Investors are primarily using the asset class to diversify their portfolios, despite volatility and high risk, according to the major bank. Launching in Switzerland for now For now, the services are limited to Bitcoin…

Bitcoin USD daily basis Bitcoin USD Chart Analysis – Renewed rejection at 40’000 USD resistance zone The reporting week started auspiciously for the bulls. On Sunday evening, the series of lower highs formed since May 19 was broken, indicating a change in sentiment. The break came with a close of 39’000 USD on Sunday and was underlined on Monday. Follow-up buying led accordingly to the 40’000 resistance zone and pushed the Bitcoin price to 40’539 USD. On Tuesday, however, Bitcoin lacked the strength to sustainably lift above these resistances, and a slightly lower daily closing price than the previous day…

The University of Basel’s Center for Innovative Finance (CIF) decided to make its introductory “Bitcoin, Blockchain and Cryptoassets” bachelor’s course open access. Some of its courses have been around for years and enjoyed decent popularity among students. The University of Basel (UniBas) has been offering Blockchain courses since 2017. From courses on Bitcoin and Public Ledgers or Smart Contracts to seminars diving deeper on more advanced topics: Students have many opportunities to learn the foundations of this promising technology. UniBas also launched the Blockchain Challenge, where real world challenges from industry partners are tackled by groups of students. Attracting students…

The Travel Rule Protocol Working Group, a global independent industry body of leading virtual asset service providers (VASPs) dedicated to creating standards that adhere to the Financial Action Task Force’s (FATF) “Travel Rule” recommendations, is launching version 2 of its protocol. The free, easy-to-use standard for communications between VASPs encourages mainstream adoption of virtual assets by enabling compliance with anti-money-laundering (AML), counter-terrorism-financing and know-your customer (KYC) protocols in line with the FATF’s Travel Rule recommendations. Version 2 of compliance protocol The new Travel Rule Protocol (TRP) update builds upon the previous version 1.1.0 adding a simplified workflow for end users…

Thailand has recently imposed restrictions on cryptocurrency trading. The South-east Asian nation’s Securities and Exchange Commission (SEC) has implemented a ban on various types of blockchain currencies such as meme tokens and NFTs. According to the Thai SEC, the new rules aim to protect traders and users from cryptocurrencies that have “no clear target or substance” and whose prices are influenced by social media trends and influencers. This includes Dogecoin (DOGE) in particular, whose volatility is heavily driven by tweets from Elon Musk. In addition to Dogecoin, non-fungible tokens (NFTs) were also the talk of the town earlier this year.…

A summarizing review of what has been happening at the crypto markets of the past week. A look at trending sectors, liquidity, volatility, spreads and more. The weekly report in cooperation with market data provider Kaiko. The last 7 days in cryptocurrency markets: Price Movements: Markets trended downwards last week following several volatility-inducing macro events. Bitcoin is currently the only top 10 asset with positive returns since the start of June. Volume Dynamics: June trading volume is but a fraction of May’s all time highs despite persistent volatility. Order Book Liquidity: Price slippage for Ethereum and Bitcoin markets is now…

The Swiss National Bank (SNB) is continuing its experiments in the field of central bank currencies (CBDCs). “Project Jura” is investigating cross-border payment processing in cooperation with the central bank of France. The G20 has prioritised the improvement of cross-border and has submitted a multi-year timeline to coordinate efforts in this regard. The current experiment contributes to this work. “Project Jura” is designed to explore how wholesale CBDCs could increase the speed, efficiency, and transparency of cross-border use cases. The Bank for International Settlements (BIS) supports central bank experiments on public goods in technology. Experiments by the Swiss National Bank…

Bitcoin USD daily basis Bitcoin USD Chart Analysis – Approaching Resistance Zone 40’000 USD During the reporting week, consolidation continued in the new area after the May 19 sell-off. On Monday, declines led the Bitcoin price to the 33’600 USD, below the respective lows of the previous week. This prompted a retest of the 30’000 USD support zone established over the last 25 trading days on Tuesday. The daily low came about just below 31’000 USD, however, the price recovered again to 33’372 USD by the close of trading. Due to the fact that on the renewed test of the…

Social media in China is blocking recent search results, and suspending the accounts of popular crypto-related content creators. If the situation continues, then this appears to be the latest step in Beijing’s increasing censorship of cryptocurrency information over the Internet. Searches for the Chinese or English names of Huobi, Binance and OKEx have recently been censored in China. For example, the Google-like search engine Baidu does not return results when searching for one of Asia’s leading crypto exchanges. In addition to other measures in the field of Bitcoin mining, the censorship indicates a tougher crackdown by China. Crypto censorship on…

A summarizing review of what has been happening at the crypto markets of the past week. A look at trending sectors, liquidity, volatility, spreads and more. The weekly report in cooperation with market data provider Kaiko. The last 7 days in cryptocurrency markets: Price Movements: May was one of crypto’s worst performing months on record, with Bitcoin down 37% and most top crypto assets in the red. Volume Dynamics: For the first time ever, the volume of Ethereum traded throughout the month was greater than the volume of Bitcoin. Order Book Liquidity: Market depth and spreads have made a full…

Bitcoin is to officially become a currency on par with the US dollar in El Salvador. Through partnerships, the president of the Central American country wants to quickly build a modern financial infrastructure to use Bitcoin as a network and means of payment. At a conference in Miami, the president of El Salvador announced that he wants to make Bitcoin a legal tender. The bill he will send to Congress would promote Bitcoin to an official currency. This could make El Salvador the first country in the world to formally adopt a crypto-asset as a means of payment. Update 09.06.2021:…