What’s mooning, what’s shaking, or even shaking out, at the start of this week? Bitcoin had a decent weekend, but let’s take a slightly closer look at what’s been going on.

When we last checked in – at least in an official capacity as a crypto reporter – the bull goose crypto asset was lurking just above and below US$30k, struggling to make up its mind about a push higher.

It did make up its mind, grabbed its pogo stick, just touched US$31k, and for now seems to be bouncing with a little less spring around US$30,500.

How’s the market sentiment tracking? For that, we take a look through the Crypto Fear & Greed Index shaped window…

Sentiment is… reasonably high – but we’ve only started to see those greedy green shoots as of last week when news of the BlackRock Bitcoin ETF filing began to sink in…

Source: alternative.me

The BlackRock filing sparked other big institutional players to come out of the woodwork with their Bitcoin interest, including some who’d previously had their ETFs rejected by the SEC – WisdomTree and Invesco, for instance.

Will this time be different? BlackRock, as the world’s largest asset manager has a hell of a lot of sway, and an overwhelmingly successful track recored in getting their ETF across the regulatory approval line (575 approvals, 1 rejection).

A potential ace in its hole, too, is something called a ‘Surveillance Sharing Agreement’ (SSA). In order to address market manipulation concerns that the SEC has flagged when it comes to the crypto market, BlackRock reportedly (per a CoinDesk article) intends to team with Nasdaq in the SSA – which allows for the sharing of information regarding market trading activity, clearing activity, and customer identification.

 

Blockchain Week

There’s a big blockchain/crypto conference happening in major Australian cities this week, led and hosted by Blockchain Australia and kicking off in Sydney at the ASX today – we’ll aim to cover what we can.

Some of the agendas include: the banking industry here and its relationship with, and importance to, the crypto industry; the future of digital currency exchanges; the power of blockchain payments; surviving the bear market; institutional interest and more.

The new CEO of Blockchain Australia, Simon Callaghan, spoke to the pressing, ever-present issue of regulations, in an early doors Blockchain Week address:

“Regulation by enforcement is the equivalent of having a hammer and seeing everything as a nail. I don’t think that’s the right approach for Australia to be taking.”

The consensus within the crypto industry in Australia is certainly a hope that the Australian government won’t go down the same path as the US has been taking, with hostile enforcement actions from the SEC.

Regulations in the UK, Europe, Hong Kong and Singapore have, to date, proven to be far more open to innovation and working with the crypto/blockchain industry.

 

Top 10 overview

With the overall crypto market cap at US$1.23 trillion, up about 0.6% since this time yesterday, here’s the current state of play among top 10 tokens – according to CoinGecko.

Right then, a quick grab of Crypto Twitter-housed Bitcoin analysis before we move further down the market cap list.

Rekt Capital is positive…

Dutchman Michaël van de Poppe is also seeing better signs in the tea leaves, as well as higher lows…

 

Uppers and downers

Some of the biggest 24-hour gainers and losers at press time. (Stats accurate at time of publishing, based on CoinGecko.com data.)

PUMPERS (11-100 market cap position)

• Aave (AAVE), (market cap: US$993 million) +21%

• Uniswap (UNI), (market cap: US$4.1 billion) +15%

• Synthetix (SNX), (market cap: US$700 million) +14%

• Kava (KAVA), (market cap: US$662 million) +8%

• Lido DAO (LDO), (market cap: US$1.7 billion) +6%

 

Some big DeFi players there (AAVE, UNI and SNX) are surging overnight. Why? Not sure just yet on the whole, but with regards to Aave at least, there is this:

According to blockchain analtics gurus Lookonchain, there has been some significant “whale” accumulation of the AAVE token. An unknown big bagger, “0x5a80,” has accumulated 182,152 AAVE worth US$13.2 million from multiple exchanges in the early hours of June 25.

There is speculation that anticipation for the Aave ecosystem GHO decentralised stablecoin, which is likely to be approved and launched on mainnet soon, is causing a bit of renewed DeFi excitement.

If approved through by AAVE holders, the GHO stablecoin will launch with a borrowing cap of $100 million.

 

SLUMPERS

• Bitcoin SV (BSV), (market cap: US$681 million) -11%

• Bitcoin Cash (BCH), (market cap: US$3.8 billion) -9%

• Ethereum Classic (ETC), (market cap: US$2.6 billion) -6%

• Conflux (CFX), (market cap: US$486 million) -3%

• Decentraland (MANA), (market cap: US$722 million) -2%

 

Around the blocks

Some pertinence and randomness that stuck with us on our morning moves through the Crypto Twitterverse.

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