PRICE CHANGE: WTD/YTD

- BTC ($33,950): +2% / +17%
- ETH ($2,225): +21% / +201%
- XRP ($0.66): +9% / +200%
- UNI ($20): +24% / +308%
- Crypto Market Cap ($1.4T): +3% / +85% 
- BTC Dominance: 45%
- ETH Dominance: 18%

NFT 3M TRADING VOLUMES

STABLECOIN MARKET CAP CHANGE: WTD/YTD

- Tether ($62B): 0% / +198%
- USDC ($26B): -1% / +558%

THIS WEEK IN CRYPTO

- Crypto exchanges saw a 56% decline in volume in June compared to May. In June exchanges posted over $950 billion of volume while in May they posted over $2.1 trillion. As in previous months, Binance was the volume leader accounting for almost 70% of volumes. Coinbase came in second at 8%. Link. 

- Total revenue for bitcoin and ethereum miners declined by 42% and 53% respectively in June. Bitcoin miners made $839 million in June compared to $1.45 billion in May. Ethereum miners saw revenue decline to $1.1 billion from $2.35 billion in May. Only $166 million came from gas fees, while block subsidy payments to Eth miners made up the remainder. Link. 

- Investment banking giant JP Morgan said that staking makes cryptocurrencies a more attractive asset class and could become a major source of revenue for retail and institutional investors. JPM said staking would grow from a $9 billion business to $20 billion following the Ethereum merge and $40 billion by 2025. JPM has notoriously been anti-crypto with Jamie Dimon famously calling bitcoin "a fraud" in 2017. Link. 

- About 46 million Americans or 17% of the adult population own Bitcoin according to a survey conducted by the New York Digital Investment Group. 53% of users said they didn't own digital assets, but 55% of those said they would consider adding crypto to their portfolio. Link. 

- WeNew, the NFT platform founded by Beeple, Guy Oseary and others, held its inaugural auction featuring a collection of "moments" created in partnership with Wimbledon and Andy Murray. A 1 of 1 NFT of a video clip capturing the exact moment Andy Murray won the Grand Slam tennis tournament in 2013 sold to the highest bidder for over $177k, while other collectible moments such as Murray's trophy lift, victory interview, 2012 runner-up speech, and more were sold in packs of 20, 50, 100 and 500 starting at $49. Link. 

- Animoca Brands raised nearly $139 million in its most recent round at a pre-money valuation of $1 billion. The company uses NFTs to give gamers the ability to own or exchange digital assets in video games. Animoca created games such as F1 Delta Time and metaverse Sandbox. Link. 

- 34% of Robinhood's Q1 revenue came from Dogecoin, according to the company's S1. Crypto has become a larger part of Robinhood's business over the last year. In 2020 the total value of crypto assets on the platform totaled $480 million. In Q1 the total value of crypto assets on the platform totaled $11.6 billion. Link. 

- A new German law enables 4,000 institutional funds with almost 2 trillion euros in assets to invest up to 20% of their portfolios in cryptocurrency, including bitcoin. Link. 

- Bitcoin's mining difficulty has decreased by almost 28% due to a massive decline in hash rate largely because of a crackdown on bitcoin mining in China. Lower hash rates led to a slower rate of block production, almost 14 minutes on average compared to the usual 10 minutes. Link. 

- Andre Cronje, founder of DeFi projects including Yearn Finance, announced a new project called Fixed Forex that allows users to mint and exchange various fiat-pegged stablecoins including the US dollar, Euro, South African Rand, Japanese Yen, Renminbi and others. Fixed Forex has incorporated “gentle liquidations,” a mechanism that ensures a users’ collateral does not get fully liquidated during a market drawdown; instead the protocol will liquidate a minimal amount of funds to repay the debt and maintain the collateralization ratio. Blog Post. Link. 

- Artist Jay-Z auctioned off a custom piece of digital art to commemorate his debut studio album "Reasonable Doubt". The NFT was run by Sotheby's and sold for $139,000. The album turned 25 years old last week. Link. 

- US Federal authorities seized over $2.8 million in bitcoin in May 2019 and recently sold that bitcoin for over $19 million, making the US Federal authorities in Ohio more than $16 million profit. Link. 

- Softbank invested $200 million at a $2.1 billion valuation into Brazil's crypto exchange giant, Mercado Bitcoin. Mercado Bitcoin is Brazil's largest crypto exchange with over 2.8 million active users. Link. 

- Grayscale, the crypto investment platform, sold some of its crypto assets to purchase Cardano (ADA). Cardano now represents 4.26% of the firms total crypto portfolio followed by Bitcoin (67%) and Ethereum (25%). Link. 

- Iran is considering a new bill that would prohibit all cryptocurrencies within Iran for payments except for a national central bank digital currency or tokens minted in the private sector. It would also only allow digital currencies that are mined locally. Link. 

- A collection of NFTs from FEWOCIOUS sold for $2.16 million at Christie's. The work was inspired by the 18-year-old artist's experiences as a young, transgender artist growing up in an abusive household. Link. 

- Twitter released 140 free NFTs via NFT marketplace Rarible. The 7 NFTs were released in editions of 20 and were gifted to Twitter users who replied to the tweet. Link. 

- Twitter CEO Jack Dorsey continues his bitcoin-maximalist perspective, tweeting that he would not be buying Ethereum anytime soon. Dorsey even tweeted that HamsterCoin was the biggest threat to Ethereum. Link. Tweet. Tweet.