Market Snapshot
As of June 17, the cryptocurrency market shows predominantly positive trends:
- BTC: $38,678.40 (-0.28% daily)
- ETH: $2,406.478 (-0.43% daily)
- LTC: $169.208 (+1.37% daily)
- OKB: $13.670 (+0.36% daily)
Top gainers on OKEx:
- MASK (+16.20%)
- TRADE (+12.79%)
- KINE (+7.61%)
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BTC contract data:
- Open interest: $1.512B
- Long/short ratio: 1.49
- Elite traders: 40% long, 57% short
Industry Updates
Valour and Arcane Crypto Plan ETP Listing
DeFi Technologies’ subsidiary Valour signed a letter of intent with Arcane Assets AS to explore launching exchange-traded products (ETPs) based on Arcane Crypto’s funds. The ETPs would be the first to use crypto funds as underlying assets, with final agreements expected later this year.
SEC Delays VanEck Bitcoin ETF Decision
The U.S. SEC seeks additional public input before ruling on VanEck’s Bitcoin ETF. Decisions on WisdomTree and Kryptoin ETFs were postponed to July.
Federal Reserve Chair Powell on Inflation
Jerome Powell noted inflation may remain elevated before easing, with potential policy adjustments if expectations rise. The Fed aims for sustained 2%+ inflation.
Zcash (ZEC) Testnet Upgrade
Zcash’s Network Upgrade 5 (NU5) testnet launches July 1, introducing unified addresses and transitioning to Halo’s verification system. Mainnet activation is slated for October.
Panama’s Crypto Legislation
Gabriel Silva, a Panamanian lawmaker, will propose a bill in July to:
- Recognize cryptocurrencies as legal tender.
- Offer tax incentives for crypto businesses.
Silva’s team is consulting lawyers, crypto firms, and government officials to finalize the bill. Panama’s constitution currently prohibits mandating exclusive legal tender, potentially easing Bitcoin adoption.
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FAQ
Q: What is the status of VanEck’s Bitcoin ETF?
A: The SEC delayed its decision, seeking further public comments. A ruling timeline remains uncertain.
Q: How does Zcash’s NU5 upgrade improve usability?
A: It introduces unified addresses compatible with all Zcash pools and upgrades underlying cryptography.
Q: Why is Panama’s bill significant?
A: It could position Panama as a crypto hub by granting legal tender status and attracting blockchain businesses.
Q: What did Fed Chair Powell say about inflation?
A: He expects inflation to stay high temporarily but reiterated the Fed’s commitment to stabilizing prices.
Disclaimer: This content is for informational purposes only and does not constitute financial advice.