Syz the moment

Following a U.S. federal judge’s ruling that #XRP—the #token powering the #Ripple network—is not a security in certain contexts, a sea of green has emerged across popular #altcoins, with top coins up double-digit percentages over the past 24 hours. XRP itself is up a colossal 62% as of writing upon the news–which has seen an uproar from the self-proclaimed “XRP army” all throughout Twitter—trading above $0.76, according to data from CoinGecko. Select other altcoins, some of which were previously deemed securities by the U.S. Securities and Exchange Commission (SEC), have also benefited from the rising tide. Solana (SOL) has roared upwards with a 17% gain on the day, marking a sizable 32% increase on the week, changing hands at around $26, according to CoinGecko. Source: Decrypt

The total value of staked ether (ETH) continues apace, reflecting positive signs of growth and stability for the world’s second-largest digital asset. Following Ethereum’s critical PoS upgrade in April, the amount of ETH that has been deposited to the ETH 2.0 contract now stands above 25.6 million. Yield on staked ether is currently around 4.5%, paid in ETH. Participants continue to bank on the value of the Ethereum network, with those holding the underlying becoming more hesitant to relinquish their assets as they anticipate future demand.

Source: Blockworks

"The monetary policy is set in code and unlikely to ever change. Simply put, Bitcoin's monetary policy is not dependent on or impacted by politics or external economic factors." Source: Documenting bitcoin

Bitcoin HODLers remain in a regime of accumulation, continuing to absorb coins at a rate of +27.1K BTC / Month. Only 11.5% of Bitcoin supply left on exchanges, lowest in over 5 years. Source: Glassnode

Bankrupt crypto lender Celsius has accused StakeHound of failing to hand back $150 million worth of various tokens which it had entrusted to the liquid staking platform. In a complaint filed as part of Celsius’s ongoing bankruptcy proceedings, lawyers also alleged that StakeHound had violated bankruptcy rules by commencing an arbitration proceeding against the business in Switzerland. At the heart of the case are $120 million worth of Ethereum (ETH), $30 million in Polygon (MATIC), and Polkadot (DOT) tokens worth $300,000, based on recent prices.

Source: Decrypt

Everything you need to know about the spot bitcoin ETF race in one beautiful table by ⁦JSeyff thru Eric Balchunas

ETF euphoria is still wafting through both the crypto and finance space, and would-be Bitcoin investors are holding their breath ahead of what they hope will be the first approved exchange traded fund for spot markets. Their spirits were lifted after regulators gave their blessing to 2X Volatility Shares to start trading the first ETF in leveraged Bitcoin futures on June 23.

Donald Verilli, one of the lawyers representing Grayscale in its battle with the SEC, argued that approving the Volatility Shares ETF ran contrary to its own stance against any fund dealing with spot markets.

Source: Decrypt

Central banks interested in exploring “some form” of a central bank digital currency (CBDC) rose to 93%, according to a 2022 Bank of International Settlements survey. Eighty-six banks responded to the BIS survey. However, a June survey from the Atlantic Council found that around 130 countries are exploring CBDCs. “Work on retail CBDC is more advanced than on wholesale CBDC: almost a quarter of central banks are piloting a retail CBDC. More than 80% of central banks see potential value in having both a retail CBDC and a fast payment system, mostly because a retail CBDC has specific properties and may offer additional features,” the BIS wrote.
Source: Blockworks