Dear Teroxx Community,

This week we saw a digital asset market that was able to record upswings once again, and altcoins in particular were able to take advantage of this for price jumps.

Weekly overview

As usual, we are also providing detailed videos for those who want to delve deeper into the subject.

Latest crypto news

Bundesbank board member Burkhard Balz sees the initiative for a digital euro as a declaration of war on private cryptocurrencies. Compared to private currency projects, a digital euro would have the decisive advantage that it would be central bank money. Balz argues that “in the past, we’ve seen that one bank or another has gotten into trouble and had to be wound up.”
Since a central bank cannot go bankrupt, “the digital euro would be a safe additional means of payment,” the Bundesbank executive promotes the role of central banks in issuing means of payment.
Businesses would hope for a quick launch of the digital euro, Balz revealed. They would be able to process important business transactions such as sending invoices or making payments much more easily with a digital euro. Technically, “almost anything is feasible” in this regard, but one has to see what is politically desired.

The major software developer’s new plan to combat piracy relies on the transparency of blockchain technology. Windows operating system and Office productivity suite have always been top performers on any software piracy platforms. So, it’s no wonder that Microsoft, the developer of both products, works hard to establish anti-piracy measures.
In a new paper released by Microsoft’s research department, with the participation of researchers from Alibaba and Carnegie Mellon University, the Redmond-based software giant studied a blockchain-based incentive system to bolster anti-piracy campaigns.
As the title of the research, Argus: A Fully Transparent Incentive System for Anti-Piracy Campaigns, suggests, Microsoft’s new system relies on the transparency aspect of blockchain technology. Built on the Ethereum blockchain, Argus aims to provide a trustless incentive mechanism while protecting data collected from the open anonymous population of piracy reporters.

New filings from the U.S. Securities and Exchange Commission (SEC) show that four major asset management firms have purchased shares in Grayscale’s bitcoin investment trust, further demonstrating increased institutional interest in the crypto industry.
As MacroScope reported on Twitter, the four investment firms disclosed their equity stakes in the “Grayscale Bitcoin Investment Trust” (GBTC) as part of its June 30, 2021 quarterly report.
Clear Perspective Advisors: 7,790 equity stakes in GBTC.
Ancora Advisors: 13,945 shares
The other two investment firms that also chose to buy GBTC are Boston Private Wealth and Parkwood. The former increased its holdings from 88,189 shares to 103,469 shares, while the latter increased its holdings from 93,000 shares to 125,000 shares.

Technical term of the week

Decentralization: Describes the exchange of assets without intermediaries or central settlement points. Decentralized applications and platforms have found a large community and application areas in recent months (years).

Crypto Market

Last week we saw market moves that stabilized bitcoin at high levels and formed support at ~$44,000.The entire market continues to be on the upswing. Bitcoin was able to form a new local high and has now established this zone as a resistance zone. This has occurred at ~$48,000. With simultaneous support formation at ~$44,000, the positive market upswing is supported. Clearly visible now is the gap to the areas of the consolidation phase ($30,000-$42,000), providing further fertile ground for positive developments. The market capitalization increased by ~10.2% last week.
Some altcoins were able to outperform bitcoin and saw double-digit percentage price jumps.


Bullish outlook: $50,000 seems to be a psychologically important resistance, should it be broken in the long term, this would beefinluss the market very positively.

Bearish outlook: A sustained formation of the resistance zone at ~$48,000 could lead to sell-offs, so that the support levels at ~$44,000 are tested.