Hi there! Here is the latest TradeSanta’s weekly digest.

  • The International Monetary Fund predicts that central banks may issue digital currencies in the near future;
  • Mike Novogratz predicted Bitcoin price and revealed his thoughts about Facebook’s Libra cryptocurrency;
  • Bitrue exchange was hacked and $4.2 million in different assets were stolen. 

Cryptocurrency Market Stats

Total market capitalization of all cryptocurrency assets slid down to 326 billion USD. Check the last week’s main results in the table below. 

StatValue (7d change)
Market Cap$ 326 205 011 965 (-0.02%)
Markets19 106 (+0.38%)
Cryptocurrencies2296 (+0.79%)
BTC Dominance61.4% (+2.3%)

Major Coins’ Price Stats

According to the CoinMarketCap data, top-3 cryptocurrencies slid down during the last week. XRP dropped by 15.34%. Check results of the previous week right in our table. 

 Coin Close 7d Gains 7d High 7d Low
 Bitcoin$10 817.16-0.35%$13 796.49$10 491.85

Quote of the Week:

Changpeng Zhao, CEO of Binance, commented on the quickest BNB transaction with the lowest fee: “This transaction: cost $0.015 USD in fees, took 1.1 seconds, and $1.2 BILLION in value transferred. The future is here.”

In Case You Missed It:

  • According to the report, produced on June 27 by the International Monetary Fund (IMF), central banks may issue digital currencies in the future. IMF also noted that several central banks from different countries plan to implement Central Bank Digital Currency and evaluate its potential impact on financial stability. Uruguay has launched e-Peso, and Sweden and China are close to implementing new currencies. Central banks want to find an alternative to cash, because of its reducing frequency of use. Moreover, implementing digital currencies will lead to cutting bank costs, and attract more customers to banks.
  • Mike Novogratz, Galaxy Digital founder, has predicted that BTC will be between $10 000 and $14 000. He also told CNBC about Facebook’s Libra Project, predicting that initially it won’t be decentralized, butFacebook team will reach this goal over time. Novogratz added: “What is tricky is the Facebook wallet which is where they will make their money. It will probably be a large part of commerce that is done on that blockchain.”
  • Cryptocurrency exchange Bitrue announced on Twitter that it was hacked, and $4.2 million in different assets were stolen. The hacker moved 9.3 million XRP and 2.5 million ADA to different exchanges. Bitrue promised to refund all users who have suffered from the hack, and conduct an emergency inspection. Bitrue team tweeted that the platform will be running normally again “as soon as possible.”

That’s all for now. We hope that our digest is helpful. Stay tuned for more blogposts, and as usual, we wish you a successful trading!