Bitcoin price slumped slightly
According to CoinDesk, Bitcoin today is trading around $30,279, down 0.62% over the last 24 hours. Bitcoin failed to break through the $31,000 threshold yesterday and showed bearish signs after the US published June’s inflation data.
Bitcoin’s market cap today dropped to nearly $590 billion, accounting for 49.9% of the entire crypto market. The total market cap is $1.181 billion, down $4 billion over the last 24 hours. However, the 24-hour trading volume increased to $31 billion, 14.84% higher than on July 12.
Among the 100 coins with the largest market cap, only 29 coins increased in price in the last 24 hours. In which, the strongest gain is Conflux (CFX), up 9.1% and the cryptocurrency that suffered the most is Kava (KAVA), with a drop of 9.5%.
EU Banking Authority called for early adoption of stablecoin standards
According to Reuters, EU banking authority has asked stablecoin issuers to voluntarily follow “guiding principles” on risk management and consumer protection before the regulation takes effect on June 30,2024. EBA officials anticipate a surge in stablecoin issuance over the coming months once the regulatory framework has been approved. The agency also called on issuers to follow the MiCAR for better risk management.
Crypto crime was down in the first 6 months of 2023
According to analytics firm Chainalysis, crypto crime has declined in the first six months of 2023. Chainalysis said the inflows to known illicit services were only $2.8 billion, down 65% from the $8 billion in the same period last year.
However, this figure does not include entities that have been sanctioned or those subject to special measures. Chainalysis reported that transactions involving sanctioned entities account for 44% of the total $20.1 billion in crypto criminal activities recorded in 2022. There are more and more victims of impersonation scams. Ransomware attackers made $449.1 million in the first half of 2023, up $175.8 million from the same period last year. According to Chainalysis, this group of criminals is targeting large institutions.