Crypto Market Update 08-03-24

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Happy Friday everyone!

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The good times keep coming, this is your weekly recap 😎📰

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Last 7 Days Market Performance 

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Bitcoin is up 11.3%, now at $ 69,220.00 📈

Ethereum is up 15.1%, now at $ 3,940.00 📈

Total crypto market cap: $ 2.78 Trillion

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Fact for the week 🤔:

⌚ Rolex's unparalleled dominance in the luxury watch category continues to strengthen, selling 1.24 million watches for a record-breaking $11.5 billion in 2023—an 11% increase from the previous year and surpassing the combined sales of its three closest competitors. This "unprecedented" 30% market share underscores its unmatched supremacy, so no wonder we chose the Rolex Daytona as our first tokenized watch. ✅
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Onto this week’s updates 🚦

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🔴 SEC Delays ETH ETF 🤚

The US Securities and Exchange Commission (SEC) has once again postponed making a decision on whether BlackRock can start an Ethereum ETF, which is a type of investment fund that follows the price of Ethereum, the second largest digital currency. This delay comes after BlackRock asked to create this fund last November, and if allowed, it would let people invest in Ethereum without directly buying the cryptocurrency. 📉
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🟡 Spain Halts Worldcoin 👁️

Spain has blocked Sam Altman's Worldcoin project, criticizing its use of eyeball-scanning technology for personal data collection and demanding the cessation of data gathering and usage already obtained. This move, spotlighting concerns over privacy and minors' data, marks a significant challenge for Worldcoin amidst global scrutiny and regulatory setbacks, questioning its methods and the exchange of personal data for cryptocurrency. 🤫
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🟢 Bitcoin Tops $70,000 🚀

Bitcoin surged to a new high over $70,000 in a volatile trading session, driven by investor enthusiasm for new U.S. crypto ETFs and expectations of falling global interest rates. This rally, buoyed by significant ETF inflows and upgrades in the crypto infrastructure - the Bitcoin halving event -, underscores the growing institutional interest despite the market's unpredictable swings. 🔥

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🎬 As said last week, the bull is on the loose and no one seems to stop it 🐂 Crazy times are coming and expect extreme volatility 🎢

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Meanwhile you can always find us at lympid.io ✅

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Lympid: Crypto interests on a trusted, regulated platform

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Talk next week 👋