What Changed in Crypto Markets While You Were Sleeping — July 12

What Changed in Crypto Markets While You Were Sleeping — July 12

BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.

Bitcoin update

BTC decreased slightly during the week of July 7-12. It proceeded to reach a low of $32,077 before rebounding slightly and closing at $34,258.

It has been trading above the $32,400 horizontal support area since May 19. While BTC created several long lower wicks below this area, it has not managed to reach a close below it. Therefore, the support area is still intact.

Despite this occurrence, technical indicators are bearish. The MACD is negative and decreasing, the RSI has fallen below 50, and the Stochastic oscillator has made a bearish cross.

The 0.618 Fib retracement support level is located at $27,050.

Altcoin movers

The total cryptocurrency market cap is up nearly 3% on the day, returning to the $1.47 trillion level. Since the beginning of July, the market cap has mostly been moving sideways in a range between $1.39 trillion and $1.5 trillion. Both bitcoin (BTC) and Ethereum (ETH) are up 2% on the day.

While the majority of altcoins in the top-100 are in the green today, Telcoin (TEL) is the best performer. TEL has gained nearly 21% in the past 24 hours. Despite this positive short-term movement, TEL is still down by more than 22% in the past week.

Stacks (STX) is the day’s biggest loser at the moment. STX has lost 8% in the past 24 hours. However, this appears to be just a retracement, as STX is still up by nearly 50% in the last week. STX has rebounded to the $1.30 level after plummeting to a local low of $0.60 on June 22.

In other crypto news

LINE, a high-profile South Korean communications company, has launched the LINE Financial Blockchain to foster central bank digital currency (CBDC) use in Asia.

Circle CEO Jeremy Allaire announced that the USDC stablecoin would become transparent, with a summary of USDC reserves and attestations to be published as the company prepares to go public.

Cryptocurrency Prices Today on July 11: Bitcoin down, Dogecoin sees biggest slump at -4.14%

The global cryptocurrency market cap is $1.40 trillion, a 0.98 percent decrease over the last day. (Image: Reuters)

The cryptocurrency market is in the red on July 11 (today). The global cryptocurrency market cap is $1.40 trillion, a 0.98 percent decrease over the last day. The total crypto market volume over the last 24 hours is $58.12 billion, which makes a 21.23 percent decrease.

The volume of all stable coins is now $43.97 billion, which is 75.66 percent of the total crypto market’s 24-hour volume. Bitcoin’s price is currently $33,639.50 and it is 45.24 percent, an increase of 0.15 percent over the day.

Dogecoin fell the most, down 4.14 percent, followed by Uniswap which is down 3.22 percent. On the other hand, Tether and USD Club both rose 0.10 percent.

This comes even as the market capitalisation of meme crypto coins and token has reached around $33 billion.

Name Price 24h% 7d% MarketCap Volume(24h) 1 Bitcoin BTC $33,658.22 -0.41% -2.29% $631,284,157,103 $21,856,374,632 2 Ethereum ETH $2,118.58 -1.44% -3.51% $247,341,028,189 $16,770,223,438 3 Tether USDT $1.00 0.10% 0.10% $62,258,171,606 $38,397,630,236 4 Binance Coin BNB $317.44 0.00% 8.17% $48,741,333,726 $1,151,803,140 5 Cardano ADA $1.34 -0.39% -3.40% $42,893,144,308 $1,073,616,122 6 XRP XRP $0.6265 -1.76% -6.14% $28,965,895,771 $1,704,787,123 7 Dogecoin DOGE $0.2137 -4.14% -12.38% $27,894,671,919 $1,105,538,145 8 USD Coin USDC $1.00 0.10% 0.11% $26,116,108,654 $1,568,077,648 9 Polkadot DOT $15.39 -1.44% -0.90% $14,763,985,827 $618,918,154 10 Uniswap UNI $20.38 -3.22% -7.30% $11,960,020,289 $272,941,107

As of 7.35 am on July 11, these the prices of the 10 largest cryptocurrencies (data from https://coinmarketcap.com ):You can also find cryptocurrency prices on CoinDesk and Coinbase.

Crypto prices today: Bitcoin below $34,000; ether, dogecoin also fall

Cryptocurrency prices were trading lower today with Bitcoin declining over 3% to $33,275.4, data by CoinDesk showed. Ether, the coin linked to the ethereum blockchain network, was down 3% to $$2,262. Dogecoin also slipped as it was trading around $22, down 5%. Other virtual tokens like XRP, Litecoin, Cardano, Uniswap also fell more than 2% over the last 24 hours.

EU documents showed on Wednesday showed that the European Union will propose a new authority to crack down on money laundering and new transparency requirements for transfers of crypto-assets, as reported by Reuters.

A separate proposal would introduce new EU requirements for service providers in crypto-assets to collect and make accessible data concerning the originators and beneficiaries of transfers in those assets.

Separately, a report by Kraken Intelligence showed that price performance of the cryptocurrencies may have been lackluster over the past month, but some of the industry developments have lifted animal spirits, and optimism may be gradually returning to the crypto market after May’s crash from all-time highs.

The report highlighted that last month was the third most volatile June when looking as far back as 2011, second to 2019 (100%) and 2011 (278%), and was 10 percentage points more volatile than usual.

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