Welcome, Crypto enthusiasts!

US regulators have postponed the releases of an ETF that would track the overall crypto market as an index.

In Today’s Blockstreet Journal:

• NASDAQ Crypto Index Postponed

• XRP Begins Stablecoin Testing

• Market Rundown

• Top Gainers & Losers

• Airdrops & More News

Latest News

MARKET NEWS
😤 NASDAQ Crypto Index Postponed 

Word On The Street: U.S. regulators announced that they require additional time to decide whether an ETF designed as a comprehensive crypto portfolio can be listed on Nasdaq’s electronic securities exchange.

The details:

• This filing was a response to Nasdaq’s June request for approval to list the Hashdex Nasdaq Crypto Index ETF on its platform.

• If approved, the Hashdex Nasdaq Crypto Index ETF would become the first diversified spot crypto ETF available in U.S. markets.

• The ETF aims to track the Nasdaq Crypto US Index (NCIUS), which features a broad portfolio of cryptocurrencies weighted by market capitalization.

Why it matters: The holdings include major digital assets like Bitcoin (BTC) and Ether (ETH), as well as altcoins such as Chainlink (LINK) and Uniswap (UNI), according to the ETF’s registration filing.

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ALT COINS
🧪 XRP Begins Stablecoin Testing 

Word On The Street: Ripple Labs announced the first tests for its US stablecoin, Ripple USD (RLUSD), on the XRP Ledger and Ethereum.

The details:

• Ripple Labs stated that the stablecoin would be overcollateralized, meaning each unit of RLUSD will be backed by USD reserves.

• Ripple committed to third-party audits of the underlying cash assets and monthly reports on the reserves.

• The company reaffirmed its commitment to both XRP and RLUSD to serve markets, dispelling rumors that Ripple would abandon XRP.

Why it matters: In the announcement, Ripple Labs highlighted that the stablecoin was currently in beta testing with enterprise partners.

Market Rundown

Fear & Greed Index

The global crypto market cap is $2.12T, a 0.34% increase over the last day.

The total crypto market volume over the last 24 hours is $55.91B, which makes a 37.72% decrease. The total volume in DeFi is currently $2.7B, 4.84% of the total crypto market 24-hour volume. The volume of all stable coins is now $50.83B, which is 90.92% of the total crypto market 24-hour volume.

Bitcoin’s dominance is currently 56.40%, a decrease of 0.09% over the day.

Global Market Metrics

As of now, the cryptocurrency market is in a significant state of activity. Here are the key statistics:

- Total Market Cap: Approximately $2.12 trillion USD

- Total 24h Volume: $55.91 billion USD

- Bitcoin Dominance: 56.40%

- Ethereum Dominance: 14.84%

- Active Cryptocurrencies: 10,072

- DeFi Market Cap: $58.75 billion USD

- DeFi 24h Volume: $2.7 billion USD

- Stablecoin Market Cap: $159.8 billion USD

- Stablecoin 24h Volume: $50.83 billion USD

- Derivatives 24h Volume: $537.39 billion USD

Top Gainers & Losers

🚀 Top Gainers

💩 Top Losers 

Airdrops & More News

DAILY AIRDROP
📦️ Loop Airdrop

Loop is running a points program for its users. The Points Program incentivizes users to lock ETH, or liquid restaking tokens (LRT), into the protocol. Loop has announced that at TGE, 7% of the tokens will be airdropped with a linear conversion among all participants.

Step-by-Step Guide:

1. Visit the Loop website.

2. Connect your wallet.

3. Ensure to have ETH or WETH in your wallet.

4. Now deposit ETH or liquid restaking tokens to start earning points (Quaaloops).

5. You can also refer your friends to earn 20% of the points given to the depositor.

6. At TGE, 7% of the supply will be distributed among the participants depending on the number of points earned.

7. For more details about the airdrop, visit this official announcement.

Other News

IRS updates draft of crypto reporting form for US taxpayers. The latest draft form eliminated asking US taxpayers the time of day a crypto transaction occurred and identifying the “broker type.”

Tether's USDT and Circle's USDC Combined Supply Grew $3B Amid Crypto Market Rebound. Stablecoins serve a key role in the crypto space and their expanding supply is usually a sign of health of the broader market.

Bitcoin as a US reserve asset is ‘great for price’ but poses significant risks. While a strategic Bitcoin reserve may be good for price action, the US Treasury controlling 19% of the BTC supply raises unprecedented centralization concerns.

Bitcoin Miner With Celsius Assets Delays IPO After Losing CEO and Auditor. Ionic Digital's former accountant, RSM, is no longer auditing publicly traded digital asset mining companies.

🫡 Thanks For Reading

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