1. Forbes: Argentina Tops Cryptocurrency Adoption in the Western Hemisphere
According to Forbes, Argentina has emerged as the country with the highest cryptocurrency adoption rate in the Western Hemisphere, driven by a staggering 276% inflation rate. However, the use of trusted exchanges remains relatively low.
Key Insights:
- Argentinians increasingly turn to stablecoins like Tether (USDT) to hedge against the depreciating peso.
- Cryptocurrencies offer an alternative means to access dollars, but regulatory gaps and security risks persist.
- President Javier Milei advocates for monetary competition and gradual dollarization, though users must navigate crypto safety independently.
2. DigitalX to Launch Bitcoin ETF on Australian Main Market
Bloomberg reports that DigitalX Ltd. will debut a Bitcoin Exchange-Traded Fund (ETF) on Australia’s main market, marking the second ASX-approved Bitcoin ETF.
Details:
- ETF Code: BTXX (launching July 12).
- Collaborators: K2 Asset Management and 3iQ.
- Follows VanEck’s Bitcoin ETF approval last month.
- BetaShares Holdings Pty also filed for Bitcoin/Ethereum ETFs on ASX.
3. Satoshi Protocol Secures $2M Seed Funding to Expand Bitcoin Ecosystem
Satoshi Protocol, a Bitcoin-native stablecoin platform, announced a $2M seed round led by CMS Holdings and RockTree Capital, with participation from Cypher Capital, Metalpha, and others.
Innovations:
- First overcollateralized stablecoin protocol on Bitcoin.
- Users mint $SAT stablecoins (110% collateralized) using BTC/LST assets.
- Deployed on BEVM and Bitlayer, with testnet integrations (BOB, Omni Network, etc.).
- 0% interest rates to incentivize ecosystem growth.
- Future plans include Runes-based stablecoins and cross-chain interoperability with Ethereum.
4. JPMorgan: Crypto Market Cap Falls 8% in June; Stablecoins Shine
CoinDesk highlights a JPMorgan report showing a 8% decline in total crypto market cap ($2.25T), reversing May’s gains.
Trends:
- Stablecoins outperformed, led by USDT.
- Bitcoin mining stocks surged 19% (boosted by AI-related power demand).
- Spot Bitcoin ETFs saw second-worst monthly flows ($662M outflows).
5. "Attack on Titan" Enters Crypto Gaming via The Sandbox Partnership
Decrypt reveals that the iconic anime Attack on Titan will debut in the crypto world through The Sandbox’s Ethereum-based metaverse.
Collaboration Highlights:
- Interactive "Attack on Titan Land" virtual experience.
- NFT-based land sales for virtual real estate.
- Expected launch: Late 2024.
6. Zodia Custody Partners with Maple Finance for Secure Crypto Lending
CoinDesk reports that Zodia Custody (backed by Standard Chartered, SBI Holdings) will safeguard collateral for Maple Finance’s lending platform.
Integration:
- Enables clients to unlock asset value within Zodia’s ecosystem.
- Launch slated for Q3 2025.
FAQs
Why is cryptocurrency adoption high in Argentina?
Due to hyperinflation (276%), Argentinians use stablecoins like USDT to preserve value amid peso depreciation.
What makes Satoshi Protocol unique?
It’s Bitcoin’s first overcollateralized stablecoin protocol, offering 0% interest to grow the BTC ecosystem.
How did stablecoins perform in June?
They outperformed other crypto sectors, with USDT leading the gains.
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