POKKET: Crypto Market Update (July 4)
Bitcoin is slightly up +2.5% to $34.5k, ETH is also 2.5% to $2200. Movers are AXS +34%, GRT +14%, OMG +11%, AAVE SAND +10%, nothing on the downside stands out.
Bitcoin mining difficulty fell by 28% overnight, the largest drop in history as the impact of China’s recent crackdown echoes through.
Spot volumes on Coinbase are close to the low levels recorded back in Dec20 in USD terms; under 8k BTC traded in past 24hrs – worth noting Tether has not printed anything in the past month.
Newsflow and volumes are also low partly due to July 4th weekend celebration in the states.
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