It is yet another day that Altcoins are experiencing a boom in their market value as Bitcoin prices remaining stable. However, none is like Dogecoin, which has taken the attention of other altcoins with its market cap, seeing an improvement going up to the 27th place at $540 million. This is a further indication suggesting altseason is here.
DOGE has been booming for the past two days due to the Dogecoin TikTok Challenge that has been trending. The video challenge is encouraging users to buy DOGE until its market price gets to $1. Besides DOGE, Cardano (ADA) has seen its asset price surge by 80% over the last week and is trading today at $0.13.
Read more analysis of altcoins’ daily trends here.
S&P 500 and BTC Price Correlation
Since June, there has been a visible correlation between Bitcoin and S&P 500, especially in increased volatility periods. This week’s beginning saw a positive in the stock market for the two, with S&P 500 having a 1.5% rise from last week’s close to Monday’s close. However, this was short-lived as it saw a 1% drop on Tuesday, nearly crossing the 3,200-resistance line. According to analysts, it is likely to have a negative effect on Bitcoin’s market price. Notwithstanding, some suggest that other factors will bail Bitcoin out.
Read more on the big drivers of BTC price here.
TSC Introduces Crypto Trading Solutions for Bank Customers
“Cryptocurrencies, digital fiat currencies, and digital assets are poised to become viable alternate avenues for investments, hedging, and portfolio diversification. Progressive financial institutions are looking to provide these options to their clientele. We are proud to offer them our robust, secure, and scalable solution for trading, storing, and transfer of these assets.” These were the words of Quartz’s Global Head, R Vivekanand, during the launch of Quartz Smart Solutions by Indian-based TSC.
The project plans to offer financial institutions a chance to provide their users with crypto trading and more.
Find more and other crypto trading stories here.
Tech Giants, DiDi Chuxing to Run First Test for China’s Digital Yuan
DiDi taxi app was the first to test China’s digital currency by PBoC as their payment mode for taxi clients. This would connect Chinese citizens using the hail-ride worldwide, hence the adoption of China’s digital Yuan. Before, DiDi used Tencent and Alibaba-backed Ant Group as payment alternatives, making it a suitable option for Digital Currency Electronic Payment (DCEP).
Get more info on the digital Yuan here.
OneCoin Ponzi’s Alleged Leader Gets Money Laundering Sentence Adjourned
The alleged leader of massive OneCoin fraud, Konstantin Ignatov, has once again had his sentence postponed. The expected sentence day was July 8 but has now been forwarded by four months following a request by Audrey Stauss, the acting US Attorney. She suggested that his cooperation is ongoing according to a court filing on July 7.
Find out more about the backstory of the Ponzi scheme court ruling here.