Copper’s Weekly Update – 13 July 2020

Highlighting what went right, and what went wrong, in this week’s crypto news analysis.

Copper

Looking back at last week’s biggest news, including price analyses for BTC, ETH, and XRP.

We didn’t think 2020 could get any more weird. We were wrong.

Last week, the price of spoof cryptocurrency Dogecoin – which began as a joke and trades for less than half a penny – spiked hard all week thanks to a viral challenge on social media platform, TikTok. The trend was even addressed by the official Dogecoin Twitter account Wednesday morning, urging followers to ‘be smart’ and warning against impulsively joining the viral challenge.

Brock Pierce, co-founder of stablecoin Tether, declared that he is is running for president of the United States. While his run isn’t getting as much hype as that of rapper Kanye West, Pierce says that Americans need to embrace a future filled with technological advancements and that he can help guide the country toward 21st-century technology practices.

On Tuesday, Binance made public its acquisition of Swipe, the London-based provider of Visa crypto debit cards. However, the value of the deal was not disclosed. Meanwhile, Binance Labs – the venture arm of the exchange giant, made its first investment this year, backing decentralised privacy startup HOPR.

Below is our weekly roundup of industry and coin specific news. If you’d like to get in touch with us about any of our products or services, we look forward to hearing from you. Just send us a note.

Copper now enables funds to create complex crypto-backed securities

Last week, Copper unveiled its Catalyst platform – a next-generation framework designed to bridge the gap between traditional financial markets & the emerging crypto investment space.

With Copper Catalyst, institutional and sophisticated investors can create and trade securitised versions of sophisticated strategies without trading or holding the digital assets themselves.

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Crypto exchange Coinbase readies landmark stock market listing, sources say

Coinbase is reportedly preparing to list on the US stock market sometime in early 2021.The SEC would have to approve Coinbase’s listing application and should it be approved, Coinbase would be the first crypto exchange to go public in the US.

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Bakkt volume soars by 17% as institutional interest in crypto flourishes

According to new data, trading volume on Bakkt has been rocketing higher in recent times. Over the past week, the institutionally aimed platform has seen a 17% rise in its total futures volume, as well as an 18% climb in its total open interest.

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Latest Coin News

BTC

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  • Price Analysis: 3 Reasons why a wild BTC move is anticipated very soon Read more
  • Bitcoin reaches record high correlation to S&P 500. Read more
  • Bitcoin options data shows investors betting on $50K BTC price in 2021 Read more

ETH

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  • Price analysis: Ethereum may see its most important breakout since 2018: all eyes on $240 Read more
  • Nearly $60M in Bitcoin moved to Ethereum in June Read more
  • Centre freezes Ethereum address holding $100K USDC Read more

XRP

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  • Price Analysis: Uptrend intact in XRP above $0.19 Read more
  • Santander adds several available regions for app in partnership with Ripple Read more
  • Ripple executive confirms XRP remittance platform live in Europe, with additional corridors in Asia likely this year Read more

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