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Estimates from CoinMarketCap indicate that the overall market value of cryptocurrencies has topped $1 trillion, up 3.3% on the day.
News context
According to Mike McGlone, a strategist for the Bloomberg exchange, the successful adoption of the Proof-of-Stake consensus method by the Ethereum network has set the stage for the second-largest cryptocurrency's continuous rise.
A record $1.2 billion in investor assets were lost by ProShares' first US bitcoin futures ETF in the first year of operation. The exchange-traded fund industry's history shows that this was the poorest launch performance ever. Nevertheless, a number of investors continue to believe in Bitcoin; in fact, the ProShares Bitcoin-ETF has experienced net inflows of $87 million over the last six months.
The biggest crypto venture capital firm, Andreessen Horowitz, had a 40% decline in capitalization in the first half of the year, according to the Wall Street Journal.
The Financial Services and Markets Bill was amended by the UK Parliament to require that cryptocurrencies be regulated as financial instruments.
Risk Warning: Trading financial instruments involves significant risk and may result in the loss of your invested capital. Please ensure you fully understand the risks and seek independent professional advice if necessary. This article does not constitute investment advice or a trading recommendation. Past performance is not indicative of future results.
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