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The SPX index was up by 0.64%, as positive U.S. retail sales data supported the belief that the Federal Reserve will drop rates to reduce inflation. The broader cryptocurrency market was also up, with Bitcoin and Ether rising by 1.47% and 0.33%, respectively, in the past 24 hours.
Today's top performer is DYM, which surged 17.1% after Dymension announced that Dymension Name Service (DymNS) is coming soon.
Dymension (DYM), launched in February 2024, is a blockchain focused on improving the crypto user experience. They have announced the upcoming launch of its Integrated Name Service (DymNS), which is similar to the Ethereum Name Service (ENS). DymNS will allow users to use human-readable usernames instead of complex blockchain addresses, and it will work across multiple blockchains and RollApps under one unified system to improve user experiences across different blockchains and applications within the Dymension network. Set to launch as part of Dymension's upcoming "3D upgrade," DymNS could significantly lower the barrier to entry for new crypto users by simplifying complex wallet addresses into familiar, email-like formats.
FTX has agreed to a $12.7 billion settlement with the Commodity Futures Trading Commission (CFTC) following its collapse last year. The fallout ensued after an alleged misappropriation of customer assets prompted legal action, leading to the company's closure in November 2022. FTX will pay $4 billion in disgorgement fees as part of the settlement. This arrangement clarifies the size of the allowed CFTC claim and helps expedite the Chapter 11 cases toward resolution, potentially leading to faster payouts for other creditors and customers. Known for enabling customers to buy, sell, and wager on future cryptocurrency prices, FTX drew significant attention following the arrest of co-founder Sam Bankman-Fried. The CFTC first raised accusations of fund misuse in December 2022. With the hefty settlement, FTX's major missteps seem nearing resolution.
Check Out the Latest Prices, Charts, and Data of FTT/USDT Spot!
Category | Flow (millions) |
GBTC | 0.0 |
Non-GBTC | 162.3 |
Total | 162.3 |
Bitcoin's recent surge to $65,210 on July 16 can be attributed to a break from heavy selling, as indicated by on-chain data from Glassnode. A significant factor in this rally was the end of a sell-off by the German government, which had largely occurred when Bitcoin's price was around $54,000, preventing it from dropping further. The slump to $53,000 was also influenced by anticipated repayments from the defunct Japan-based crypto exchange Mt. Gox and additional Bitcoin sales by the German government. On July 15, over $300 million was invested in 11 US-based ETFs, reflecting strong market sentiment for Bitcoin.