Current cryptocurrency market situation and highlights
The summer period is usually a less active time for investors. The vacation season results in reduced trading on most capital markets. The cryptocurrency market also sees some stagnation. However, in the case of Bitcoin, the turnover is not that low at all, although the price stacks up in a horizontal trend and does not record much change, holding between $19,000 and $24,000 per Bitcoin. In contrast, the Ethereum exchange rate looks slightly better.
Other most interesting news in recent days:
Coinbase enters into a partnership with the well-known Black Rock investment fund allowing its clients to invest in Bitcoin.
Portuguese banks liquidate the accounts of companies related to the cryptocurrency market including the oldest cryptocurrency exchange from that market.
The Sau Paulo club paid for the transfer of a player through USDC or one of the stablecoins.
The U.S. Federal Reserve FED raised rates by 75 basis points.
In general, central banks around the world have been raising interest rates in recent months and weeks, which could be a negative factor for the prices and rates of individual cryptocurrencies. It seems clear that “turning off the money tap” in the form of low interest rates will have a negative impact on the currencies that gained the most in value during the duration of zero interest rates.