USDC becomes MiCA compliant ❗️

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📅 Today

🔍️ Market Outlook

• Overall Bias - Neutral 📈 

• BTC is trying to re-test it’s $60,000 support zone, which is in confluence with a daily horizontal support and ~the 200 Daily Moving Average

• The next important support zone to focus at on the higher time frames is at $ $56,700 to $57,700.

• So far, the price has respected the initial support level. Usually, buying in spot with a very long term perspective on the 200 Day MA has never been a bad idea.

• $64,500 & $66,200 are crucial levels that need to be broken on the upside to protect the support zones mentioned above.

• A breakdown of BTC dominance below it’s 200 Daily Moving Average could indicate a trend reversal, and alts could see some relief if BTC holds the support level at $60k while simultaneously dominance falls below it’s 200 DMA. However, this is more of a medium term possibility, rather than a short-term one.

Circle Secures EU Crypto Compliance 🙏 

Circle, known for issuing the USDC stablecoin, has received an e-money license from France’s banking regulator, ACPR.

This makes Circle the first global stablecoin issuer to comply with the EU's new MiCA regulations.

With this license, Circle can now issue USDC and EURC stablecoins across the EU under MiCA's strict guidelines.

Robinhood plans to launch futures trading for crypto 📈 

Robinhood is set to offer crypto futures in the US & Europe, following its $200 million purchase of Bitstamp In Europe.

It plans to use Bitstamp’s licenses to provide perpetual futures for Bitcoin and other tokens. In the US, the focus will be on launching futures for Bitcoin and Ethereum via the CME.

Although there are no immediate launch plans, discussions suggest strong potential for these offerings.

The demand for crypto derivatives is growing rapidly, with $3.69 trillion in monthly trading volume in May, offering a significant opportunity for the company to expand it’s business.

📕 Educational

Why is Kaspa outperforming BTC & other altcoins ❓️ 

👉 In a market where most altcoins are down 50-70%, Kaspa hit a new all-time high on June 30th. This surge is linked to Marathon Digital, which began mining Kaspa $KAS in September 2023.

👉 Kaspa is an open-source, decentralized, Layer-1 protocol similar to Bitcoin but uses a BlockDAG instead of a linear blockchain. This allows it to process multiple blocks simultaneously, resulting in faster transactions—one block every second.

👉 Since September, Marathon mined 93 million $KAS tokens valued at $16 million and aims for up to 95% higher margins from advanced Kaspa mining machines. They've acquired 60 petahashes of Kaspa mining equipment, with half already operational.

👉Over the same period, Marathon mined 9,761 BTC. Compared to this, Kaspa mining has contributed a smaller part to Marathon's total earnings.

👉 Kaspa is now the 5th largest proof-of-work cryptocurrency with a market cap of $4.1 billion and has over 85% of its 28.7 billion $KAS tokens in circulation.

📊 Stats

📈 Chart of the day

• Rationale & Confluences :

  

  Dydx/Usd - Weekly - Spot Buy

• Macro Daily Horizontal support

• Bullish divergence on Daily & 4H RSI

• Daily Discount Zone

• Weekly Horizontal Support.

• Multiple bullish divergences on 4H.

• Source : Cointraction 

• Note : None of the content mentioned in the newsletter is financial advise. This is for educational purposes only.

🤣 Meme of the day

Accurate 🤣 

That concludes our update for today!

We appreciate you joining us for the latest news. Our aim is to provide insights and highlights that keep you well-informed and ready. Remember to follow us on social media for additional updates and giveaways. Happy trading, and see you next time!

Disclaimer : None of the content shared in the newsletter is financial advise. Always do your own research before investing.