Ethereum network upgrades could help the crypto staking industry boom to $40 billion by 2025 according to analysts at JPMorgan. Germany has passed a law giving institutional investors permission to hold crypto assets! Read our weekly round up below.
Business Insider: July 2, 2021
The staking industry – in which users earn cryptocurrency by putting up their own tokens to validate transactions – is currently worth around $9 billion, JPMorgan analysts, led by Kenneth Worthington, said in a note on Wednesday.
Decrypt: July 1, 2021
Market experts estimate that up to $415 billion could flow into crypto assets as a result. Germany’s ‘Fund Locations Act’ came into force today, meaning that thousands of institutional investment funds will now be eligible to invest in Bitcoin and other crypto assets for the first time.
BNN Bloomberg: June 30, 2021
Some of the biggest names in the hedge fund industry are wading deeper into crypto. Steve Cohen’s Point72 Asset Management is seeking to hire a head of cryptocurrencies, while the family office of billionaire George Soros has started trading Bitcoin, according to people familiar with the matter.
CNBC: July 1, 2021
Bitcoin had a solid start to 2021, hitting an all-time high of nearly $65,000 in April. But the digital coin closed out the first half of the year down about 47% from its record – and a number of looming risks could result in further pain ahead.
Bloomberg: June 30, 2021
Michael Novogratz, ceo of Galaxy Digital, says Bitcoin is a survivor and talks about the threats facing the crypto sector. He talks to Emily Chang and Sonali Basak on “Bloomberg Technology.”
Business Insider: July 1, 2021
The US is the country most prepared for widespread use of cryptocurrencies, with a study published Thursday showing a high accessibility to and interest in digital currencies within the world’s largest economy.
Decrypt: July 2, 2021
Crypto investment firm ETC Group announced Friday plans to take Europe’s most popular exchange-traded Bitcoin product carbon neutral after Elon Musk stirred demand for environmentally-friendly crypto funds and the European Union clamped down on dirty investments.
Cointelegraph: July 2, 2021
A major dip to $20,000 is not expected, one trader says, but lower levels, in general, are still in the cards going into the weekend. Bitcoin (BTC) retained a key support area on Friday as bidders stepped in to avert another test of $30,000.