Bitcoin consolidating lower as list of notable institutional developments continue

12 Jul 2021

???? BTC | $34,157 (+567, +1.7%)

???? ETH | $2,131 (+16, +1.1%)

???? XRP | $0.64 (+0.01, +1.8%)

???? LTC | $132 (+0.0, +0.0%)

Crypto sentiment in South Korea remains cautious thanks to earlier regulatory action, although one of the largest banking groups (Woori Financial) has just announced joint plans with exchange Coinplug to offer cryptocurrency custody services.

The company behind the $25B USDC stablecoin (Circle) is going public through a $4.5B SPAC merger, the same time as Bullish – a crypto exchange company “backed by billionaire investor Peter Thiel”. The catch? Bullish hasn’t actually launched its “more user-friendly cryptocurrency exchange” yet despite its $9B SPAC deal.

The top three auction house such as Christie’s have been seeing a tripling in sales this year thanks to enthusiastic luxury spending. Interestingly, more and more transactions are being done in crypto, with Sothesby’s selling a 104-carat diamond last Friday for $12M in Bitcoin to an anonymous buyer.