Latest Market News
An XRP wallet owned by Ripple and Stellar co-founder Jed McCaleb has practically ran out of XRP after multiple years of continuous selling. The “tacostand” wallet, which is infamous in the XRP community for “dumping” millions of XRP on the market every day, now only has a balance of about 47.69 XRP.
Crypto is still new technology, and that is one of the reasons it has been marred by many unsuccessful projects in 2022. Some were intentionally designed to be fraudulent, while most simply failed because of incompetence, not being unique enough or because of hacking. Obviously, there are also a myriad of highly successful and trending crypto projects.
Last week, we saw strong performances from certain altcoins, while Bitcoin mostly stagnated. Let’s take a quick look at the 3 cryptocurrency and blockchain projects that will be the most interesting to follow in the next few days.
StarkWare says that they will be launching StarkNet Token, a governance token for the StarkNet layer 2 network.
Cryptocurrency lender Celsius and several of its subsidiaries have filed for Chapter 11 bankruptcy in New York roughly a month after freezing withdrawals from its platform. According to the filing, Celsius has between $1 and $10 billion in assets, and the company’s liabilities are in the same range.
The Bureau of Labor Statistics published a report on the Consumer Price Index (CPI) for the month of June on Wednesday. According to the agency’s findings, consumers paid on average 9.1% more for food, energy, and other essentials in June 2022 compared to the same period last year. The Bureau commented on the record-breaking CPI levels:
Animoca Brands, a Hong Kong-based company that’s focusing on using blockchain and NFTs in gaming and metaverse applications, has raised $75 million at a valuation of $5.9 billion.
As the uncertainty in the cryptocurrency market continues, many projects are still working hard on new products and implementations. Let’s take a look at three crypto and blockchain projects that will be especially interesting to follow in the next few days.
Cryptocurrency mining and blockchain infrastructure company Core Scientific sold 7,202 BTC in June for a total of $167 million. This represented the majority of the company’s Bitcoin holdings, as Core Scientific held “just” 1,959 BTC on June 30.
Cryptocurrency investment products have seen $61 million in inflows last week, according to a report by crypto asset management firm CoinShares. While the fact that crypto investment products recorded inflows last week seems like a bullish sign for crypto at face value, CoinShares highlighted that $51 million of inflows went into the ProShares Short Bitcoin Strategy product, which is an ETF providing short exposure to Bitcoin.
