POKKET: Crypto Market Update (July 30)
Bitcoin s flat at $40k and ETH is +3% to $2350. Movers are POWR +61%, POLY +25%, BZRX +18%, FET +16% with nothing on the downside standing out.
Rep. Ted Budd, a member of the Congressional Blockchain Caucus, was a speaker at the ‘Maker Speaker Series’ sponsored by MakerDAO, and said Washington is scared of crypto and DeFi with some calling it “basically a financial 9/11”.
$1.5B in options expires today on Deribit, with the ‘max pain price’ at $35k and Put/Call ratio at 0.86, with bulls looking to gain a bit at expiry.
Robinhood finally debuted overnight at $38, and dropped 9% immediately and closed at $34.82.
PayPal CEO touted their digital wallets could be the way to distribute stimulus payments in the near future.
State Street is now going to offer crypto services for private-fund clients.
Finally, MicroStrategy laid out its macro strategy in their Q2 earnings call, with Saylor Moon saying they plan to buy even more BTC – the company currently hodls 105k BTC.
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