Bitcoin Hits Several Highs Amidst Record-Low Volatility

Plus everything else you need to know this week about crypto.

By: Zack Abrams

June 26, 2023

This week: Bitcoin’s price continues to climb amidst record HODLing, more crypto victories in international jurisdictions, and the crypto firm whose projected earnings surpass BlackRock.

Listen to Coinage’s host Zack Guzman discuss these stories with Web3 attorney Ariel Givner above.

In Bitcoin…

Bitcoin hit its highest price in a year on Friday before modestly retreating. Despite that achievement, the volume of bitcoin that hasn’t moved in a year keeps increasing. Also setting records: the Lightning network hit an all-time high in bitcoin and USD capacity, while bitcoin futures markets are seeing the largest money flows since the Terra collapse. 

Unfortunately for Ethereum, Bitcoin is leaving it in the dust, most likely because Ethereum’s regulatory status remains unclear.

In International Markets…

HSBC Hong Kong, the biggest bank in the special administrative region, now lets customers trade bitcoin and ether ETFs from its investment platform. Spain, meanwhile, is embracing as a virtual asset service provider. 

In search of friendly jurisdictions, Binance is eyeing the UAE while Gemini eyes Singapore. The IMF, in a blog post, discouraged Latin American governments from banning crypto, imploring them to “...instead focus on addressing the drivers of crypto demand, including citizens’ unmet digital payment needs.”

In Tether…

The world’s biggest stablecoin may make more money in 2023 than the world’s largest asset manager, BlackRock, according to analysts. Tether is gaining market share over its biggest rival, Circle’s USDC, which faced a number of setbacks this year. In case you missed it, several crypto outlets recently dug into documents which describe Tether’s banking relationships following a public records request.

In Other Headlines…

That’s everything we’re taking a look at this week! If you missed us discussing these stories live on Twitter, subscribe to our newsletter to catch the latest updates!

If you haven’t heard, Coinage is expanding from the show you know and love to an entire media operation, posting and curating news on our site. If you have a Digital Membership Pass (NFT), you can even help us out by submitting stories you’d like to see highlighted on our site.

If there’s something we missed, come chat with us in our Discord, and keep an eye on our YouTube channel for this week’s episode!


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