🗞 Daily Crypto News, July, 2nd 💰

As Traditional Markets Rally, Bitcoin Gets Boring;
Binance Security Report Sheds Light On Crypto Scams;
Why Bitcoin Bulls Are Betting on Explosive Growth in India;
🔥 CryptoTwitter Emoji War is ON ! #BTC vs #CRO vs #BNB;
Lebanese Pound Falls 50% in Ten Days — Now Worth One Satoshi;
🗞 Daily Crypto Calendar, July, 2nd 💰

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 As Traditional Markets Rally, Bitcoin Gets Boring

Bitcoin broke above $9,250 for the first time since Friday as the leading cryptocurrency continues to trade in a tight range just above $9,000 for several weeks. But cryptocurrency markets have stayed quiet as traders expect a big move. Bitcoin was trading hands around $9,250 as of 20:00 UTC (4 p.m. ET).

Bitcoin at $9,250 as of 20:00 UTC (4 p.m. ET), up 1.2% over 24 hours
*BTC trading range (past 24 hours): $9,000-$9,300
*Ether up 3% in trading, at around $232
*Bitcoin 30-day volatility continues to drop
*Decentralized exchange volume grows 70% in June

Ether, the second-largest cryptocurrency by market capitalization, gained 3%, trading around $232 as of 20:00 UTC (4 p.m. ET), according to Bitstamp.

Despite trading above $9,250, bitcoin is still stuck within a tight range of a few hundred dollars above $9,000. As a result, 30-day volatility continues to decline. In fact, bitcoin’s volatility reached its lowest mark since Feb. 23, according to Coin Metrics.

🗞 Binance Security Report Sheds Light On Crypto Scams

A report released by major crypto exchange Binance illustrates how scams targeting cryptocurrency investors attempt to gain credibility.

In the report published on June 30, the exchange explained that its Binance Sentry risk investigation service observed reports of fraudulent investment schemes promising quick or exponential returns on cryptocurrency investments. The frauds do not just concern crypto but also forex, binary options and contracts for difference (CFDs).

Binance published the report after a Bitcoin (BTC) scam targeted the residents of Winnipeg, Canada, in late June.

Binance Sentry also notes that the global nature of many of the scams, make legal action against them harder. The report explains:

“[Scam] victims are often situated all over the world, living in jurisdictions that are different from the pseudo-services to which they fall victim. [...] As one may expect, this not only results in an increased level of difficulty for law enforcement investigations but also complicates the process of establishing connections between victims.”

🗞 Why Bitcoin Bulls Are Betting on Explosive Growth in India

When India’s Supreme Court overturned the banking restrictions for crypto exchanges back in March, everything changed.

Since then, Binance joined the Internet and Mobile Association of India (IAMAI), which played a key role in overturning the ban, and noted explosive growth via WazirX, the Indian exchange Binance acquired in 2019. A WazirX spokesperson told CoinDesk the exchange saw 150% more signups in many Indian cities from February to May 2020, which boosted local trading volumes by 66%.

“The Supreme Court’s positive verdict has surely helped in creating positivity around crypto in India,” the spokesperson said.

As part of that broader sentiment shift, prominent Indian economist Subhash Chandra Garg argued a “digital rupee will replace physical paper rupee as currency.” As the former executive director of the World Bank and former Indian finance secretary, Garg argued both that bitcoin is a global currency and that India should create a Central Bank Digital Currency (CBDC) that citizens can use with “digital wallets.”

🔥 CryptoTwitter Emoji War is ON ! #BTC vs #CRO vs #BNB

I just found out that Bitcoin is not the only Crypto emoji available on Twitter anymore !

CZ from Binance tweeted about the #BNB Hashtag and his own Binance Coin Emoji !

Quite cool right?

A little bit before on June, 11th Crypto.com through its crypto listed as #CRO has been the 2nd ever CryptoTwitter Emoji !

Rumors are saying Twitter charges at least $1mn !

Some people in the space are also having some question about the CRO business model and their very aggressive Marketing Events (Bitcoin 50% off...). I do not know if some of you have a view on this company or not.

My full article here

🗞 Lebanese Pound Falls 50% in Ten Days — Now Worth One Satoshi

A deepening monetary crisis has seen Lebanon’s national currency plummet a further 50% over the last ten days to reach parity with a single satoshi.

Lebanon’s national currency continues to shed value amid the country’s deepening monetary crisis, with unofficial reports indicating that the Lebanese pound, or lira, has lost 50% of its purchasing power in less than two weeks.

On July 2, local crypto advocate Saifedean Ammous, author of The Bitcoin Standard, took to Twitter to assert that after “having lost half its value in the last 10 days, the Lebanese lira is now worth one satoshi” — comprising a historic low for the currency of roughly $0.000093.