Yellow Capital Blog/Weekly Crypto Digest/Weekly Crypto Digest for June 19 - June 25, 2023.

Weekly Crypto Digest for June 19 - June 25, 2023.

Monday, June 26, 2023

Bitcoin tested the $31,000 level, SEC Approves First Leveraged Bitcoin Futures ETF, The head of the Fed called stablecoins money and allowed the rate hike, 3 more Bitcoin ETF applications and more.

Bitcoin tested the $31,000 level

On June 21, the quotes of the first cryptocurrency exceeded $29,000. By the end of the day, the price of Bitcoin surpassed $30,000. On June 23, digital gold rose above $31,000, but could not hold this milestone. At the time of writing, the asset is trading at $30,600. Over the past week, Bitcoin has risen in price by 15.2%. 
Most of the top 10 digital assets by capitalization ended the week in the green zone. Cardano (+10.1%) and Solana (+9.2%) went up more than others.

SEC Approves First Leveraged Bitcoin Futures ETF

The U.S. Securities and Exchange Commission (SEC) approved the first leveraged bitcoin futures exchange-traded fund (ETF) on Friday. Volatility Shares 2x Bitcoin Strategy ETF (BITX) is scheduled to launch on the Chicago Board Options Exchange (CBOE) BZX next Tuesday, June 27th.
According to the SEC statement, BITX is “seeking investment results that match the 2x (2x) returns of the Chicago Mercantile Exchange (CME) Daily Roll Bitcoin Futures Index.”
The BITX Fund will be a leveraged ETF. Leveraged funds use debt or derivatives – in this case bitcoin futures – as leverage to increase the performance of the benchmark index. This leverage can mean short-term gains for investors, but it can also lead to significant losses.

Binance.US unlocks withdrawals

The US division of the Binance crypto exchange has announced a solution to the problems associated with the withdrawal of funds in US dollars. The company warned that the situation could change in the near future.

Drive organic growth for your tokens with Yellow Capital's Crypto Market Making services.

Our team of experts specializes in creating a sustainable and profitable crypto market for your tokens through our proven strategies including crypto market makingalgorithmic trading, liquidity provision, token growth, and crypto exchange listing.

Yellow's algorithmic trading infrastructure can connect to over 100 exchanges, and our constantly evolving architecture is compatible with all major Blockchain protocols.

Schedule a Call now with Yellow Capital



The head of the Fed called stablecoins money and allowed the rate hike

The Fed should be involved in the regulation of stablecoins. The head of the department stated this, Jerome Powell, during a speech before the Committee on Financial Services of the House of Representatives.
Powell believes that it would be a mistake to leave the Fed with "weak" powers in the segment and allow the creation of a large amount of private money at the state level. He is confident that his office should take part in approving the issuance of stablecoins in the United States.

The head of the Fed called stablecoins money and allowed the rate hike

The Fed should be involved in the regulation of stablecoins. The head of the department stated this, Jerome Powell, during a speech before the Committee on Financial Services of the House of Representatives.
Powell believes that it would be a mistake to leave the Fed with "weak" powers in the segment and allow the creation of a large amount of private money at the state level. He is confident that his office should take part in approving the issuance of stablecoins in the United States.

Ethereum developers can increase the limit for validators from 32 ETH to 2048 ETH

Ethereum Foundation researcher Michael Noider has several reasons why this should be done. He stated that while the current validator limit promotes decentralization, it deliberately leads to an increase in the size of the set of validators. And increasing the limit can slow down the expansion of the active set of validators. Ultimately, this will improve the efficiency of the network.
In addition, he added that the increase to 2048 ETH will introduce the possibility of automatic rewards for validators. Currently, the income of more than 32 ETH must be redirected to other sources to provide at least some income from staking. However, if the limit is lifted and increased, these rewards can be automatically reinvested, providing validators with an efficient means to earn more from staking ETH.

Following BlackRock WisdomTree, Invesco and Valkyrie applied to launch Bitcoin ETF

Management companies WisdomTree, Invesco, and Valkyrie, following BlackRock, filed applications with the US Securities and Exchange Commission (SEC) to launch spot exchange-traded funds based on the first cryptocurrency.
To date, the SEC has rejected all applications for the approval of a spot Bitcoin ETF. An exception was made for ProShares and Valkyrie, which are based on bitcoin futures on the Chicago Mercantile Exchange.

Following BlackRock WisdomTree, Invesco and Valkyrie applied to launch Bitcoin ETF

Management companies WisdomTree, Invesco, and Valkyrie, following BlackRock, filed applications with the US Securities and Exchange Commission (SEC) to launch spot exchange-traded funds based on the first cryptocurrency.
To date, the SEC has rejected all applications for the approval of a spot Bitcoin ETF. An exception was made for ProShares and Valkyrie, which are based on bitcoin futures on the Chicago Mercantile Exchange.

BOB meme token collapses after Elon Musk's warning about fraud

The Twitter team has suspended the account of the popular AI bot associated with meme-cryptocurrency Explain This Bob after Elon Musk's allegation of a scam.
The bot profile had over 400,000 subscribers. The project was created by Indian programmer Prabhu Biswal and used the OpenAI GPT-4 model to respond to tweets.
The bot has its own ERC-20 standard token - Bob Token (BOB). According to CoinGecko, after the account's suspension, the coin's price fell by more than 30%.

Large investors withdraw $150 million to Ethereum from Binance and Kraken

Over the past week, Lookonchain analysts have recorded three large withdrawals from the Binance and Kraken crypto exchanges for a total of 86,520 ETH (~$150 million):
the first whale transferred 35,860 ETH worth over $64 million from a Binance address;
the second - withdrew 27,000 ETH for $48 million from the largest crypto exchange in terms of trading volume in four transfers;
the third wallet withdrew 23,660 ETH from Kraken, worth more than $42 million, in five transactions.

The IMF questioned the need to ban cryptocurrencies

Over the past week, Lookonchain analysts have recorded three large withdrawals from the Binance and Kraken crypto exchanges for a total of 86,520 ETH (~$150 million):
the first whale transferred 35,860 ETH worth over $64 million from a Binance address;
the second - withdrew 27,000 ETH for $48 million from the largest crypto exchange in terms of trading volume in four transfers;
the third wallet withdrew 23,660 ETH from Kraken, worth more than $42 million, in five transactions.

customer1 png

Hi, I am Alexis Yellow

Chairman of Yellow Capital

Are you ready for a wild career transition? I went from launching rockets into outer space at the European Space Center to helping Token Issuers launch their Crypto Projects!

Yellow Capital provides advisory services, strategic investments, and prime crypto market making.

Join me on this journey as I share my experiences and expertise in the crypto world, and maybe we'll even launch a few successful projects together!

1 png

Investment

Private Rounds

- Early stage pre-listing
- Investment and Incubation

Market Making

Token Issuers

- We are Prime Market Makers for the projects we invest into.

Increase Your Cash Flow

Listed Tokens

- We buy up to $5,000,000

Exclusive For the Projects We Invest In

Get Free Market Making

Our investment strategy involves providing deep liquidity crypto market making to the projects we invest in. This approach allows us to ensure continuous and substantial liquidity in exchanges. By doing so, we aim to increase market efficiency and reduce price volatility. We help to stabilize prices and reduce the bid-ask spread, which can lower transaction costs for traders. This usually attracts more traders to the markets, by making it easier and less risky to trade your token which can help to increase the overall liquidity and trading volumes both for the benefit of traders and issuers. However, we recognize that providing liquidity also comes with potential risks, which we carefully evaluate and manage as part of our investment decision-making process.