BlackRock’s Larry Fink: Bitcoin Could “Revolutionize Finance” [ Crypto Espresso 7.6.23 ]

It's Thursday and it's also International kissing day well your host Andrew will be responsible and refrain Since that's how diseases spread anyway The ideas of crypto news should be Spread and that's why this is crypto Espresso your teeny tiny daily shot of Caffeinated crypto headlines let's just Go first up BlackRock CEO Larry Fink Previously known to be a crypto skeptic Said in an interview with Fox Business That he believes that Bitcoin could Revolutionize Finance he suggested that If more assets and securities were Tokenized it would change the financial System Fink also noted that Bitcoin Could be an alternative asset for Investors who want to hedge against Inflation and currency devaluation Fink Said Bitcoin is an international asset It's not based on any one currency and So it can represent an asset that people Can play as an alternative blackrock's Eye shares unit recently filed with the SEC for a spot Bitcoin ETF but Fink Couldn't predict whether whether it Would be approved despite blackrock's Track record of getting approvals Despite Fink's bullish comments the Price of Bitcoin didn't really move much Today and remained under thirty thousand Five hundred dollars retracing from the Highs of 31 300 that it hit on Monday Bitcoin miners have earned 184 million

Dollars from transaction fees in quarter Two of 2021 according to coinmetrics the Figure which is more than the previous Five quarters put together is mostly Attributable to the popularity of brc20 Tokens and ordinals BRC 20 tokens are Bitcoin's answer to ethereum's erc20 Token standard while ordinals is a Protocol that enables users to inscribe Data to a single Satoshi in order to Create nft-like assets on bitcoin BRC 20 Tokens which were introduced in March Have seen their market cap soared almost 240 million dollars users must submit a Transaction with a fee in order to Mint Brc20 tokens and their request will be Processed on the Bitcoin Network and Added to the following block of Transactions people started to become Increasingly willing to pay extra for Transactions in exchange for Speed as The hype surrounding brc20 tokens gained Traction in May the amount of money that Miners are receiving from transaction Fees is still considerable especially When compared to previous quarters Despite the fact that payout amounts Related to transaction fees have Decreased as interest in BRC 20s has Faded institutional investors interest In financial instruments giving exposure To bitcoin and ethereum have increased According to a report by crypto data Provider CC data according to the

Research the major cryptocurrencies saw Increases in spot trading volumes Derivatives trading and CME Futures Contracts according to the study June's Bullishness was motivated by the recent BlackRock spot Bitcoin ETF filing which Led to other major asset managers like Fidelity and vesco wisdom tree and Arc Invest to file their very own Applications the volume of Bitcoin Futures traded on the Chicago Mercantile Exchange increased by 28.6 to 37.9 Billion in June while the value of Bitcoin micro Futures increased by 21.1 Percent to 702 million dollars with over 97 000 eth Futures contracts traded in a 10.8 percent increase in June Ethereum-based instruments also Experienced a significant increase the Volume traded valued in USD at 46.8 Billion dollars increased by 24.6 Percent the rise in trade-in speculation May benefit the CME group's newest Offering the ethereum to bitcoin ratio Futures which is scheduled to launch Later this month subject to regulatory Approval DBS Banks China subsidiary DBS Group China has launched a payment System to support China's cbdc the ecny The platform would enable companies to Receive payments from clients in ecny And have settlements instantly placed Into Fiat bank accounts according to the Announcement by the largest bank in

Southeast Asia the technology has Already undergone successful testing With an ecny collection from a Shenzhen Catering company the platform will only Be accessible to Chinese corporate Clients with the cbdc currently being Used in 26 Chinese regions across 17 Provinces since the ecny's introduction In 2019 China has progressively Increased its use across its economy This comes amidst the Crackdown on Crypto trading and Mining by the Chinese Government in past years however the Recent openness of crypto regulations in Hong Kong May signal a changing stance By the authorities DBS bank is also Entering into the world of digital Assets by assisting China in developing Their own digital currency and finally The layer 2 Solutions starknet version 12 developed by Israeli companies Starkware has begun testing it it claims To significantly boost ethereum's Throughput on a level never achieved Previously if the starknet community Votes in favor of the upgrade called who Boy Quantum Leap it will go live on Mainnet around July 13th the enhanced Throughput delivers a similar user Experience to web 2 applications and Makes it simpler for developers to Construct more responsive dapps the Ethereum action fees will be Dramatically reduced thanks to volition

A new starkware product for the Permissionless Stark net Network to the Point where the network will be able to Enable micro payments like bitcoin's Lightning Network to achieve Stark Net's Eventual objective of building an Invisible blockchain where web3 Technology just operates with the speed Performance and features that users have Grown accustomed to with web 2 Applications a high TPS and low latency Combination would be essential and a High engagement feel combination would Also be essential to get you to like This video subscribe to our YouTube Channel and click on that little bell Icon to get buzzed whenever a new crypto Espresso video goes live thoughts on Today's episode just drop me a line in That comment section below but please be Gentle oh gosh those comments just Keep me up at all hours can't sleep Questions about our headlines or crypto In general take that plunge and desk Alex in the description below Alex is Always a great resource for all things Web 3 and the metaverse end that about Does it for today as always I've been Your host Andrew these have been your Headlines and we'll see all of your Beautiful shining faces tomorrow