Copper’s Weekly Update – 29 June 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.

Bitcoin and Ethereum just saw their largest respective options expiry ever on Friday, marking a major milestone for the cryptocurrency market. Analysts had been forecasting intense volatility but so far, the markets have been sailing the calm seas.

crypto.com is temporarily suspending its Europe and UK issuances of MCO debit cards after its former card operator — the troubled German payments giant Wirecard — slipped into bankruptcy and filed insolvency this week. crypto.com CEO Kris Marszalek informed CoinDesk that the company will be refunding 100% of customer funds.

And finally, the Bank for International Settlements (BIS) released a special chapter from its annual report on digital payments concerning central bank digital currencies (CBDCs). It reveals an uptick in positive statements regarding CBDCs.

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.

Grayscale will own 3.4% of all BTC by January

Grayscale Investments has added 19,879 BTC to its Bitcoin Trust in the last week, purchasing faster than the tokens can be mined. The investment firm’s total Bitcoin holding currently stands at 400,000 BTC.

At this rate, Grayscale will own 3.4% of all Bitcoin in circulation by January 2021.

Read More

SEBA bank launching Bitcoin product that generates yield

Zug’s SEBA bank, a crypto-focused and Swiss license financial institution, announced a new Bitcoin-centric structured product yesterday called Dual Currency Certificate.

The product allows holders to passively bet on BTC prices in the short term.

Read More

Major Chinese tech companies come together to announce the Distributed Identity Alliance

17 Chinese firms across sectors founded the Distributed Identity Alliance to drive innovation through blockchain.

Baidu, Tencent Cloud, WeBank, JD com and UnionPay are among the big names that are part of the collaboration.

Read More

Latest Coin News

BTC

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  • Price Analysis: BTC/USD on the verge of free-fall to $8,000 – confluence detector Read more
  • US blockchain firm buys 17K Bitcoin mining rigs from Bitmain Read more
  • Ebang hits Nasdaq IPO running with ambitious expansion plan Read more

ETH

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  • Price analysis: ETH/USD bearish pattern spotted as $215 beckons Read more
  • Surge in stablecoin and DeFi growth bring Ethereum fees to 2-year high Read more
  • Price of Grayscale Ethereum Trust has fallen 65% from its June high Read more

XRP

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  • Price Analysis: XRP/USD claws back ground above $0.1700 Read more
  • Ripple and SBI looking to roll out XRP liquidity solution this year  Read more
  • XRP users may see extended use of Uphold with XRPL labs and Ripple Read more

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