Crypto Outlook

-BTC: $30,650.92

-ETH: $1,946.33

-XRP: $0.4801

-LTC: $112.01

The global crypto market cap is $1.21T, a 0.94% increase over the last day. The total crypto market volume over the last 24 hours is $30.22B, which makes a 12.55% increase.

BTC: BTC price increased by 0.50% and 1.13% over 24 hours and the past seven days. The asset reached a low and high of $30,264.02 and $30,789.11, respectively.

Cameron Winklevoss, the co-founder of Gemini, has accused the United States securities regulator of pushing investors towards risky and unregulated cryptocurrency products over the past ten years.

Expressing his frustration with the U.S. Securities and Exchange Commission (SEC), Winklevoss highlighted the consistent denial of approval for spot Bitcoin exchange-traded funds (ETFs) by the SEC. It has been a decade since the Winklevoss twins first sought approval for their own ETF from the regulatory body.

Winklevoss criticized the SEC, asserting that their ongoing refusal to approve these products has negatively affected U.S. investors, revealing the regulatory authority’s failure.

Due to the absence of an approved spot Bitcoin ETF, Winklevoss argued that U.S. investors had been forced to invest in “toxic” products such as the Grayscale Bitcoin Trust (GBTC).

ETH: ETH price increased by 1.69% and 3.20% over 24 hours and the past seven days. The asset reached a low and high of $1,895.91 and $1,958.16, respectively.

In a recent episode of the Bankless podcast on June 29, Vitalik Buterin, the co-founder of Ethereum, discussed his decision not to stake all of his Ether (ETH) due to the complexities involved with multi-signature wallets.

Buterin explained that when you stake your ETH, the keys needed to access it must be made public on an online subsystem. To ensure security, a multi-signature (Multisig) setup is required. However, setting up Multisig for staking purposes can be challenging and comes with various complications.

This revelation prompted a response from Charles Hoskinson, the co-founder of Ethereum and founder of Cardano, who expressed his surprise on Twitter on June 30. Hoskinson mentioned being “at a loss for words” upon discovering that Buterin only stakes a small portion of his Ether. In contrast, Hoskinson claimed that he personally stakes “all” of his Cardano (ADA) holdings.

XRP: XRP price decreased by 0.68% and 0.85% over 24 hours and the past seven days. The asset reached a low and high of $0.4783 and $0.4915, respectively.

Contrary to rumors circulating within the XRP community, Gary Gensler, Chairman of the Securities and Exchange Commission (SEC), is not resigning. The SEC’s PR team has officially confirmed this, putting an end to the speculations.

Prominent XRP accounts like Documenting Ripple had amplified these rumors, suggesting that Gensler would step down from his position due to an internal investigation. However, such an event would be unprecedented, as no SEC chair has ever resigned before.

Gensler, an experienced figure in public policy and academia, as well as the former chairman of the Commodity Futures Trading Commission, has focused on the growing crypto market during his tenure at the SEC.

Notably, he has been involved in the ongoing lawsuit with Ripple Labs and has taken legal actions against Coinbase and Binance. Given the highly unorthodox nature of Gensler’s hypothetical resignation, the rumors were regarded skeptically within the XRP community.

LTC: LTC price increased by 1.96% and 28.13% over 24 hours and the past seven days. The asset reached a low and high of $109.67 and $114.50, respectively.

As the Litecoin halving event approaches, the asset has generated social media buzz. Based on Litecoin halving data, 29 days, 20 hours, and 45 minutes (1,7682 blocks) remain until the scheduled halving of Litecoin (LTC) block rewards on August 2. After the halving, the block reward will be reduced from 12.5 LTC to 6.25 LTC.

Over the past 30 days, Litecoin has experienced notable growth. Since the start of the one-month countdown to the Litecoin halving, the price of LTC has surged by over 27%. LTC has emerged as one of the top-performing tokens in the past week, boasting a 30.4% gain.

Investors generally anticipate a price increase for Litecoin following the halving event, as the reduced rewards are expected to drive up demand. However, there are other factors to consider as well. One key trend to monitor is the influx of new miners. With a decrease in supply, the long-term value of LTC is predicted to rise, attracting more participants to join a bullish market potentially.

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