Markets
Institutional Money Returns to Crypto
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Binance’s $4.3 billion deal with US regulators marked a major shift in the mindset of institutional adoption of digital assets, which has suffered widespread layoffs from institutional players who qualify assets digital assets of flashy and worthless assets propelled by criminals.
Gradually, the tectonic plates of ideas that shaped the sentiments of these institutional corridors of power shifted. For the first time in decades, digital assets like Bitcoin (BTC) could collide ideologically with a mark of institutional acceptance.
Many innovative ideas are flooding into the cryptocurrency space, creating endless market opportunities. Binance’s collaboration with Signum, which allows large players in the cryptocurrency industry to keep their assets elsewhere, further amplifies many revolutions and will allow institutions to explore digital assets.
Additionally, institutions continued to flock to the crypto market following the spot approval of Bitcoin exchange-traded funds (ETFs), allowing many companies to trade proxies with low management fees and participate to other strategies such as hedging.
These factors attracted a lot of attention and attracted money to the crypto space, as was significantly reflected in Bitcoin’s performance, which reached new all-time highs. Smart money, retailers, families, hedge funds, and corporations have all recently added Bitcoin as a portfolio diversification strategy.
Research has shown that a staggering number $17 billion in institutional capital has flooded the cryptocurrency space this year alone, as institutions continue to allocate a percentage of their investments to digital assets.
The dark side Bitcoin ETF feed shows that big players such as BlackRock, Fidelity, VanEck and other institutional firms have shown great interest in digital assets, with institutional money playing a key role in the current cryptocurrency market buzz .
More than seven in ten institutional investors have shown their desire to diversify their investments in digital assets, and more than five of these institutional investors have taken numerous steps to own these crypto assets.
BlackRock Spearheads Institutional Money Entering Crypto
BlackRock, a leading asset manager and one of the largest institutional giants in the world, has shown great interest in the cryptocurrency ecosystem, leading to many innovations in the tokenization of cryptocurrency assets .
These actions by well-respected financial services demonstrate growing adoption of blockchain technologies among traditional organizations. The incredible benefits offered by the blockchain ecosystem, such as transparency, liquidity, and use cases by different projects, are driving this adoption.
Private companies have initially dominated the blockchain ecosystem, but its mass adoption by institutions could pave the way for greater operational efficiency. Innovative ideas such as the tokenization of digital assets by a crypto startup, Libre, have received a lot of attention from JPMorgan and BlackRock, focusing more on innovation in this space and tokenization of digital assets.
BlackRock CEO Larry Fink sees blockchain technology and the tokenization of crypto assets as a model for one day replicating such great ideas in stocks and bonds to achieve a unified blockchain ledger enabling instant transactions.
Unlocking institutional opportunities
In a rapidly evolving financial world, asset tokenization continues to be rampant among institutional organizations such as BlackRock, JPMorgan, Fidelity and others. It aims to constitute a pivotal force and a very promising transformation for these institutions in the near future.
Recent research from Boston Group Consulting (BGC) and investment firm ADDX shows a clear direction for most institutional firms showing more interest in the cryptocurrency ecosystem, with their interest shifting towards tokenization actives. Asset tokenization is expected to be a $4 trillion industry as it attracts more institutions to the space and could materialize in the coming decades.
This change in the tokenization of assets by financial institutions is not speculative in relation to the trend in the currency market, as it has been concretely manifested by these market participants, who recognize the potential of this industry. The central stage for traditional finance and blockchain technology to bridge its gap would be a moving ball, as it would enable liquidity, efficiency and better accessibility.
As this provides many opportunities for institutional investors, emerging technologies such as artificial intelligence (AI), copy trading, social trading and others have been adopted by many retailers to exploit the infinite money flowing into the crypto space by institutional investors.
Margex Copy Trading helps retailers position themselves better in the market
The idea of traditional finance entering the cryptocurrency market was a mirage. It is only recently that many traditional financial institutions have shown a lot of interest in the crypto space.
Traditional financial institutions entering the cryptocurrency market have many retailers excited. A lot of new money has been injected into the market, suggesting that the current market uptrend is a factor in their presence. Many retailers would like to take advantage of the current market sentiment.
Exchange-traded funds (ETFs) and real-world assets (RWAs) have attracted the attention of institutions. Digital assets falling under this trend have outperformed expectations over the past few months, with the Margex platform ensuring that these high-conviction assets are available for trading.
Margex is a leading cryptocurrency copy platform that allows users to replicate trades from expert traders. This gives users the opportunity to explore digital assets with real-world use cases and better profit potential.
Margex spent over $3 million to redesign its platform, focusing on usability. It introduced a zero-fee converter to allow users to easily exchange tokens without fees. Margex plans to unveil a state-of-the-art wallet that provides users with great asset security and helps them have complete custody of assets within the same platform.
Margex’s design of its copy trading platform gives users an advantage over other platforms. It allows users to copy the best traders with a win rate of over 90% and good risk management of users’ assets. Above all, trades are executed automatically without much oversight.
Exploring Margex copy trading and earning tempting returns through automated trading has never been easier. Here is a three-step process for using the Margex copy trading strategy.
1 Create a Margex account
To create a Margex allows users to access its copy trading.
2 Follow Profitable Expert Traders
Follow your favorite expert trader to automatically replicate all trades and strategies. Margex copy trading rankings provide all the information users need to make the most informed decision about which expert trader to copy.
3. Allocate funds to automate copy trading
All trades executed in real time allow users to copy the strategy or create a plan that suits them after allocating the desired amount to be entered per trade.
The minimum amount required by Margex to participate in copy trading strategies is as low as $10.
Latest Alpha Market Report
Over the past 24 hours, Jupiter and JasmyCoin emerged as the top gainers among the top 100 crypto assets, while Bittensor and Mantra plunged as the top losers.
Top Winners
Jupiter
Jupiter (JUP) led the charge among the biggest gainers on July 27.
At the time of writing, the crypto asset had surged 12.6% in the past 24 hours and was trading at $1.16. JUP’s daily trading volume was hovering around $282 million, according to data from crypto.news.
JUP Hourly Price Chart, July 26-27 | Source: crypto.news
Additionally, the cryptocurrency’s market cap stood at $1.56 billion, making it the 62nd largest crypto asset, according to CoinGecko. Despite the recent price surge, the token is still down 42.6% from its all-time high of $2 reached on Jan. 31.
Jupiter functions as a decentralized exchange aggregator that allows users to trade Solana-based tokens. The platform also offers users the best routes for direct trades between multiple exchanges and liquidity pools.
In addition to being a DEX aggregator, Jupiter has expanded into a “full stack ecosystem” by launching several new projects, including a dedicated pool to support perpetual trading and plans for a stablecoin.
JasmyCoin
JasmyCoin (JASMI) has increased by 12% in the last 24 hours and is trading at $0.0328 at press time. JASMY’s daily trading volume has increased by 10% in the last 24 hours, reaching $146 million.
JASMY Hourly Price Chart, July 26-27 | Source: crypto.news
The asset’s market cap has surpassed the $1.5 billion mark, making it the 60th largest cryptocurrency at the time of reporting. However, the self-proclaimed “Bitcoin of Japan” is still down 99.3% from its all-time high of $4.79 on February 16, 2021.
JASMY is the native token of Jasmy Corporation, a Japanese Internet of Things provider. The platform seeks to merge the decentralization of blockchain technology with IoT, allowing users to convert their digital information into digital assets.
The initiative was launched by Kunitake Ando, former COO of Sony Corporation, along with Kazumasa Sato, former CEO of Sony Style.com Japan Inc., Hiroshi Harada, executive financial analyst at KPMG, and other senior executives from Japan.
Kaspa
Kaspa (KAS) saw a 100% increase in trading volume and an 8% increase in price over the past 24 hours, trading at $0.19 at the time of publication.
KAS Hourly Price Chart, July 26-27 | Source: crypto.news
According to data from CoinGecko, Kaspa now ranks 27th in the global cryptocurrency list, with a circulating supply of approximately 24.29 billion KAS tokens and a market capitalization of $4.59 billion.
Kaspa is a cryptocurrency designed to deliver a high-performance, scalable, and secure blockchain platform. Its unique Layer-1 protocol includes the GhostDAG protocol, a proof-of-work (PoW) consensus mechanism that enables faster block times and higher transaction throughput compared to standard blockchains.
Unlike Bitcoin, GhostDAG allows multiple blocks to be created simultaneously, speeding up transactions and increasing block rewards for miners.
Bonk
Bonk (BONK) is the only one coin meme which made it to this list of biggest gainers and jumped 8.6% in the last 24 hours. Trading at $0.000030, the Solana-based meme coin’s market cap has surpassed $2.1 billion, surpassing Floki (FLOKI), another competing dog-themed coin with a market cap of $1.78 billion.
BONK Hourly Price Chart, July 26-27 | Source: crypto.news
BONK’s daily trading volume hovered around $285 million. However, BONK is still down 33.5% from its all-time high of $0.000045, reached on March 4.
Bonk, a meme coin that rose to prominence in 2023, has contributed significantly to Solana’s value increase amid the meme coin frenzy.
Bonk started out as a simple dog-themed coin. It has since expanded its features to include integration with decentralized finance. The project also partners with cross-chain communication protocols, NFT marketplaces, and various other cryptocurrency ecosystems.
BONK trading pairs are now listed on major exchanges including Binance, Coinbase, OKX, and Bitstamp.
The big losers
Bittensor
Bittensor (TAO) was the biggest loser among the 100 largest crypto assets, according to data from CoinGecko.
At the time of writing, TAO, the native token of decentralized AI project Bittensor, was down 5%, trading around $344. The crypto asset had a daily trading volume of $59 million and a market cap of $2.43 billion.
TAO 24 Hour Price Chart | Source: CoinGecko
Bittensor, created in 2019 by AI researchers Ala Shaabana and Jacob Steeves, initially operated as a parachain on Polkadot before transitioning to its own layer-1 blockchain in March 2023.
Mantra
Mantra (OM) fell 6%, trading at $1.13 at press time. The digital currency’s market cap fell to $938 million. Additionally, the 82nd largest crypto asset has a daily trading volume of $26 million.
OM Price Hourly Chart, July 26-27 | Source: crypto.news
Mantra is a modular blockchain network comprising two chains, Manta Pacific and Manta Atlantic, specialized in zero-knowledge applications.
Coat
Coat (MNT) also saw a 2.4% drop in price, now trading at $0.8413. Currently, Mantle has a market cap of around $2.75 billion, which ranks 36th in the global cryptocurrency rankings by market cap, according to price data from crypto.news.
MNT Hourly Price Chart, July 26-27 | Source: crypto.news
Over the past 24 hours, MNT trading volume also fell by 6%, reaching $240 million.
Mantle, formerly known as BitDAO, is an investment DAO closely associated with Bybit. The MNT token is essential for governance, paying gas fees on the Mantle network, and staking on various platforms.
Built on the Ethereum network, Mantle provides a platform for decentralized application developers to launch their projects. It has become particularly popular for GameFi applications, leading to the formation of an internal Web3 gaming team.
Markets
Bitcoin Price Drops to $67,000 Despite Trump’s Pro-Crypto Comments, Further Correction Ahead?
Pioneer cryptocurrency Bitcoin has registered a 1.13% decline in the past 24 hours to trade at $67,400. Despite a strong pro-crypto stance from US presidential candidate Donald Trump at the Bitcoin 2024 conference, this massive selloff has raised concerns in the market about the asset’s sustainability at a higher price. However, given the recent three-week rally, a slight pullback this weekend is justifiable and necessary to regain the depleted bullish momentum.
Bitcoin Price Flag Formation Hints at Opportunity to Break Beyond $80,000
The medium-term trend Bitcoin Price remains a sideways trend amidst the formation of a bullish flag pattern. This chart pattern is defined by two descending lines that are currently shaping the price trajectory by providing dynamic resistance and support.
On July 5, BTC saw a bullish reversal from the flag pattern at $53,485, increasing its asset by 29.75% to a high of $69,400. This recent spike followed the market’s positive sentiment towards the Donald Trump speech at the Bitcoin 2024 conference in Nashville on Saturday afternoon.
Bitcoin Price | Tradingview
In his speech, Trump outlined several pro-crypto initiatives: he promised to replace SEC Chairman Gary Gensler on his first day in office, to establish a Strategic National Reserve of Bitcoin if elected, to ensure that the U.S. government holds all of its assets. Bitcoin assets and block any attempt to create a central bank digital currency (CBDC) during his presidency.
He also claimed that under his leadership, Bitcoin and cryptocurrencies will skyrocket like never before.
Despite Donald Trump’s optimistic promises, the BTC price failed to reach $70,000 and is currently trading at $67,400. As a result, Bitcoin’s market cap has dipped slightly to hover at $1.335 trillion.
However, this pullback is justified, as Bitcoin price has recently seen significant growth over the past three weeks, which has significantly improved market sentiment. Thus, price action over the weekend could replenish the depleted bullish momentum, potentially strengthening an attempt to break out from the flag pattern at $70,130.
A successful breakout will signal the continuation of the uptrend and extend the Bitcoin price forecast target at $78,000, followed by $84,000.
On the other hand, if the supply pressure on the upper trendline persists, the asset price could trigger further corrections for a few weeks or months.
Technical indicator:
- Pivot levels: The traditional pivot indicator suggests that the price pullback could see immediate support at $64,400, followed by a correction floor at $56,700.
- Moving average convergence-divergence: A bullish crossover state between the MACD (blue) and the signal (orange) ensure that the recovery dynamics are intact.
Related Articles
Frequently Asked Questions
A CBDC is a digital form of fiat currency issued and regulated by a country’s central bank. It aims to provide a digital alternative to traditional banknotes.
The proposal for a strategic national Bitcoin reserve is a major confirmation of Bitcoin’s legitimacy and potential as a reserve asset. Such a move could position Bitcoin in a similar way to gold, potentially stabilizing its price and encouraging other countries to adopt similar strategies.
Conferences like Bitcoin 2024 serve as essential platforms for networking, knowledge sharing, and showcasing new technologies within the cryptocurrency industry.
Markets
Swiss crypto bank Sygnum reports profitability after surge in first-half trading volumes – DL News
- Sygnum says it has reached profitability after increasing transaction volumes.
- The Swiss crypto bank does not disclose specific profit figures.
Sygnum, a Swiss global crypto banking group with approximately $4.5 billion in client assets, announced that it has achieved profitability after a strong first half, with key metrics showing year-to-date growth.
The company said in a Press release Compared to the same period last year, cryptocurrency spot trading volumes doubled, cryptocurrency derivatives trading increased by 500%, and lending volumes increased by 360%. The exact figures for the first half of the year were not disclosed.
Sygnum said its staking service has also grown, with the percentage of Ethereum staked by customers increasing to 42%. For institutional clients, staking Ethereum has a benefit that goes beyond the limitations of the ETF framework, which excludes staking returns, Sygnum noted.
“The approval and launch of Bitcoin and Ethereum ETFs was a turning point for the crypto industry this year, leading to a major increase in demand for trusted, regulated exposure to digital assets,” said Martin Burgherr, Chief Client Officer of Sygnum.
He added: “This is also reflected in Sygnum’s own growth, with our core business segments recording significant year-to-date growth in the first half of the year.”
Sygnum, which has also been licensed in Luxembourg since 2022, plans to expand into European and Asian markets, the statement said.
Markets
Former White House official Anthony Scaramucci says cryptocurrency bull market could be sparked by regulatory clarity
Anthony Scaramucci, founder of Skybridge Capital, says the next cryptocurrency bull market could be sparked by a new wave of clear cryptocurrency regulations.
In a new interview On CNBC’s Squawk Box, the former White House communications director said he and two other prominent industry figures traveled to Washington, D.C. to speak to officials about the dangers of Sen. Elizabeth Warren and U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler’s hardline approach to cryptocurrency regulation.
“Mark Cuban, myself, and Michael Novogratz were in Washington a few weeks ago to speak with White House officials and explain the dangers of Gary Gensler and Elizabeth Warren’s anti-crypto approach. I hope that message gets through…
“Overall, if we can get regulatory policy around Bitcoin and crypto assets in sync, we will have a bull market next year for these assets.”
Scaramucci then compares crypto assets to ride-hailing company Uber, saying regulators were initially wary of the service but eventually decided to adopt clear guidelines due to public demand.
“Remember Uber: Nobody wanted Uber. A lot of regulators didn’t want it. Mayors and deputy mayors didn’t want it, but citizens wanted Uber and eventually accepted the idea of regulating it fairly. I think we’re there now.”
The CEO also says young Democratic voters believe their leaders are making the wrong choices when it comes to digital assets.
“I think President Trump’s move toward Bitcoin and crypto assets has shaken Democrats to their core, and I think very smart, younger Democrats are recognizing that they are completely off base with their positions, completely off base with these SEC lawsuits and regulation by law enforcement, and now they need to get back to the center.”
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