Bitcoin Holds Steady Above $58,000 in Americas Trading
The latest cryptocurrency prices are as follows: the CoinDesk 20 Index stands at 1,849.02, showing a 0.94% increase. Bitcoin (BTC) is currently priced at $58,248.56, reflecting a 0.33% rise. Ether (ETH) is valued at $2,369.12, up by 0.95%. Other market indicators include the S&P 500 at 5,595.76, exhibiting a 0.75% increase, and Gold at $2,567.76, showing a 0.37% rise. However, the Nikkei 225 is at 36,581.76, down by 0.68%.
Bitcoin’s price has remained relatively stable, fluctuating between $57,800 and $58,200, with a 0.33% increase over the last 24 hours, reaching $58,250. This stability suggests a pause in the momentum of the largest cryptocurrency after its recovery from $53,800 a week earlier. The broader digital asset market has seen a 0.9% uptick, with XRP leading the gains with over a 5% rally. Grayscale’s introduction of a trust offering exposure to XRP has provided a boost to the token, potentially paving the way for it to become an exchange-traded fund, similar to Grayscale’s BTC and ETH products.
Research from crypto exchange Binance reveals that the market value of tokenized real-world assets (RWAs) has surpassed $12 billion. Major financial players like BlackRock and Fidelity have entered the RWA space alongside crypto-native projects such as Securitize and Polymath. Tokenized treasury funds, digital representations of U.S. Treasury notes, have exceeded $2.2 billion in market value, with BlackRock’s BUIDL holding nearly $520 million. Franklin Templeton’s FBOXX, with a market cap of $434 million, is the second-largest tokenized Treasury product. Binance Research attributes the rapid growth of the tokenized Treasuries market to elevated interest rates in the U.S.
Starknet token holders have voted to implement staking on the layer-2 network, a proposal under consideration since July, in a significant governance election on Snapshot’s new decentralized Snapshot X platform. The vote, which saw a high level of support, passed with 98.94% in favor of staking implementation, while 0.45% abstained and 0.61% opposed it. The new staking mechanism on Starknet will allow holders of more than 20,000 STRK tokens to stake on the network starting in the fourth quarter of this year.
The Chart of the Day showcases the distribution of trading activity in decentralized exchanges (DEX) across various blockchains over the past 11 months. Arbitrum has accounted for more DEX volume than Binance Smart Chain, despite Arbitrum’s ARB experiencing a 60% decline this year, while Binance Coin (BNB) has surged by 75%. The data source for this chart is IntoTheBlock.
These developments in the cryptocurrency market reflect the ongoing evolution and diversification within the digital asset space.
– Omkar Godbole
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