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Crypto News Roundup for July 27, 2020
With BTC breaking out, ETH exploding and gold at all-time highs, CoinDesk's Markets Daily is back with another crypto news roundup.
Updated Sep 14, 2021, 9:36 a.m. Published Jul 27, 2020, 4:00 p.m.
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With BTC breaking out, ETH exploding and gold at all-time highs, CoinDesk's Markets Daily is back with another crypto news roundup.
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This episode is sponsored by Bitstamp and Crypto.com.
Today's Crypto News:
First Mover: Bitcoin at Last Passes $10K, but Why Has It Struggled While Gold Shone?
It's a tricky thing to explain why bitcoin has been underperforming as central bank money printing helps drive gold to a new record.
Ether Leaves Bitcoin Behind With 2020 Gain of Over 100%
Ethereum's popularity with DeFi projects has likely led to a triple-digit year-to-date price rise for ether. Bitcoin lags well behind with a 34% gain.
Crypto Long & Short: Where Fintech Ends and Crypto Begins
Parts of fintech may be embracing crypto, but Noelle Acheson argues that doesn’t mean crypto is fintech – it’s more than that.
MakerDAO Passes $1 Billion Milestone in DeFi First
The total value of ether locked in DeFi's oldest project has surpassed $1 billion for the first time.
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BlackRock exec says 1% crypto allocation in Asia could unlock $2 trillion in new flows
During a panel discussion at Consensus in Hong Kong, Peach pointed to massive capital pools in traditional finance as ETF adoption spreads across Asia.
What to know:
- Even a 1% crypto allocation in standard portfolios across Asia could translate into nearly $2 trillion of inflows, highlighting how modest shifts in asset allocation could transform the digital asset market, according to the head of APAC iShares at BlackRock, Nicholas Peach.
- BlackRock's iShares unit, whose U.S.-listed spot Bitcoin ETF IBIT has rapidly grown to about $53 billion in assets, is seeing strong demand from Asian investors as ETF adoption accelerates across the region.
- Regulators in markets such as Hong Kong, Japan and South Korea are moving toward broader crypto ETF offerings, but industry leaders say investor education and portfolio strategy will be critical to channeling traditional finance capital into digital assets.
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