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NKB Group News Updates

Weekly Crypto Market News Update – 9th July

Welcome to this week’s Crypto market update on The Daily Chain. We are collaborating with NKB Group – a full-service investment bank focused on blockchain technology. These updates will include the top crypto news stories of the week, charts, data, BTC, coin and more.

Market Momentum

After a volatile start to the week, digital assets were stabilising towards the end, with the total market cap ranging in a tight 6% channel. After reaching new yearly highs, BTC has recorded a fairly volatile week too, with spot price falling to $9.6k on Tuesday and the next day recovery to above $12k. BTC is currently sitting just below $11.5k, anticipating a major move from the triangle. The best performing assets from the Top-30 group last week were Tezos (26.7%), Crypto.com Chain (31.5%) and Monero (14.4%).

Top News Stories

TD Ameritrade-backed ErisX Gets Green Light To Settle Futures in Bitcoin

ErisX, which is backed by TD Ameritrade, announced that the CFTC granted it a derivatives clearing organization (DCO) licence, acting as a secondary approval on top of an existing designated contract market (DCM) licence that the exchange already held. The approvals mean the company can now launch crypto futures products under the auspices of the U.S. regulator.

Binance Announces Futures Trading Platform with up to 20x

At the blockchain summit in Taipei, the CEO of Binance has announced that the exchange will be launching a futures trading with leverage up to 20x.

BitMEX to Launch Bitcoin Zero Coupon Bond in the Next Few Weeks

Cryptocurrency derivatives exchange BitMEX is preparing to launch a bitcoin zero coupon bond in the “next few weeks,” its CEO Arthur Hayes told Bloomberg at the Asia Blockchain Summit in Taipei.

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Bitfinex Repays $100m of Outstanding Loan Facility to Tether

Bitfinex has announced that the outstanding loan worth $100m from Tether has been repaid.

CME’s Bitcoin Futures Sees a 30% Increase in Total Client Sign-Ups

More than 2,960 accounts have traded CME Group’s bitcoin (BTC) futures across all client types and time zones since launch, according to new data from the derivatives marketplace. In 2019 alone, there has been more

About NKB

NKB operates as a full-service investment bank focused on blockchain technology. They are a one-stop solution for clients – opening the new world of crypto assets and delivering it via the best practices of traditional finance.

NKB pride themselves on providing high quality investment research comment and analysis in the crypto space.  Their research is authorized and regulated by the FCA in the UK and led by professionals with several decades of investment research experience. Their technological capability in the crypto space is complemented by team members with experience from leading tech companies and deep understanding of the underlying technology.
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