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Crypto Outlook

  

-BTC: $27,672.70

-ETH: $1,779.33

-XRP: $0.5096

-LTC: $91.06

The global crypto market cap is $1.16T, a 2.31% decrease over the last day.

The total crypto market volume over the last 24 hours is $33.91B, which makes a 13.52% increase.

BTC: BTC price decreased by 2.77% and 0.17% over 24 hours and in the past seven days. The asset reached a low and high of $27,607.67 and $28,479.05, respectively.

The ZeroSync Association and Bitcoin infrastructure firm, Blockstream have joined forces to facilitate rapid syncing and worldwide accessibility to Bitcoin. By broadcasting zero-knowledge proofs (zk-proofs) from Blockstream’s satellite network, this collaboration employs one of the most talked-about blockchain-tech developments of 2023 to authenticate the Bitcoin blockchain.

The technology eliminates the need for nodes to download the chain’s 500GB of data, allowing for syncing in mere seconds and enhancing Bitcoin’s scalability and global access. The satellite network transmits the blockchain globally, including areas with erratic internet service, making Bitcoin accessible to all. The association intends to leverage zk-proofs to expand Bitcoin’s reach, with the first experimental broadcast expected by the end of the year.

ETH: ETH price decreased by 2.25% and increased by 1.69% over 24 hours and in the past seven days. The asset reached a low and high of $1,765.52 and $1,824.33, respectively.

According to Ethereum’s co-founder, Vitalik Buterin, Ethereum’s verification problem cannot be fully resolved by layer-2 scaling solutions, despite its popularity as a decentralized finance (DeFi) and non-fungible tokens (NFTs) platform.

In a recent blog post, Buterin emphasized the difficulties in verifying mainnet transactions, which could be improved for the platform’s growth. Although many people use the network, only a few can run their nodes, and most rely on trusted third parties and light clients. However, Buterin notes that verifying the adherence of Ethereum validators to established protocol rules is challenging, even with the help of lightweight clients.

XRP: XRP price decreased by 1.45% and increased by 12.85% over 24 hours and in the past seven days. The asset reached a low and high of $0.5063 and $0.5285, respectively.

John Deaton, a cryptocurrency lawyer and proponent of XRP, has shared his opinion on the potential resolution of Ripple’s legal battle with the Exchange Commission (SEC). In late 2020, the SEC filed a lawsuit against Ripple, accusing the company of selling XRP as an unregistered security.

Deaton, a cryptocurrency lawyer and XRP supporter informed his 257,000 Twitter followers via a Twwet that he thinks Judge Analisa Torres, who is in charge of the Ripple case, is not required to follow a specific schedule.

“There is no deadline of today for her to rule. The decision could come out within the next hour, or it could take another 30-60 days. Based on previous cases, Judge Torres has issued her ruling on summary judgment within a couple of months of her Daubert/Experts’ decision.”

Deaton also said that there wouldn’t be any insider knowledge of the case’s final outcome.

LTC: LTC price decreased by 1.98% and 0.36% over 24 hours and in the past seven days. The asset reached a low and high of $90.86 and $94.43, respectively.

In May 2021, LTC reached an all-time high of $412.96, but within six months, the value of Litecoin LTC decreased by over 50%. Litecoin LTC serves as a testbed for enhancements to the BTC blockchain, and the introduction of the Mimblewimble privacy protocol is a significant improvement that seeks to make crypto transactions untraceable, which will boost adoption.

Currently, LTC is trading at around $91, and industry experts predict an imminent price correction for the cryptocurrency. If LTC experiences a price correction, its value could decline to approximately $50. However, on-chain data reveals that large cryptocurrency investors are accumulating LTC in preparation for the August halving.


Vantage does not represent or warrant that the material provided here is accurate, current, or complete, and therefore should not be relied upon as such. The information provided here, whether from a third party or not, is not to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any financial instruments; or to participate in any specific trading strategy. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. We advise any readers of this content to seek their own advice. Without the approval of Vantage, reproduction or redistribution of this information is not permitted.

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