Bitcoin is trading around the $32400 level. Ethereum rose to the level of $2025, and the price of XRP reached 59 cents. The total capitalization of the digital currency market has increased to $1.33 trillion.
JPMorgan has allowed its consultants to conduct client applications for transactions with cryptocurrency products. According to Business Insider, this is the first major bank to offer such services to customers who are not classified as super-rich. Since July 19, they are allowed to work with five products, including those produced by Grayscale based on bitcoin, Bitcoin Cash, Ethereum and Ethereum Classic. The source claims that the service is available to all JPMorgan clients who apply for investment services, including users of the trading application and consulting service. At the same time, JPMorgan consultants can only conduct voluntary transactions, that is, they do not have to recommend cryptocurrencies to clients, but they can buy or sell an asset on request.
Tether, the operator of the world's largest USDT stablecoin, plans to conduct a financial audit of the token security in the coming months. Tether, as well as other companies that issue stablecoins, are often criticized for the lack of audits. For several years, the company did not even disclose where the fiat currencies are stored, let alone the details of the USDT collateral. It seems that regulatory pressure forced Tether not only to provide data on the assets that ensure the issue of tokens, but also to conduct a financial audit. Tether is backed by assets in the ratio of 1:1, but not all of these assets are US dollars – bonds, safe loans, cryptocurrencies and other investment instruments are also used. At the moment, the capitalization of USDT reaches $ 62 billion. The growth rate since the beginning of the year was 195%. At the same time, the growth rates of competing USDC and BUSD tokens are even higher. Recently, Fed Chairman Jerome Powell said that stablecoins should be regulated like bank deposits and mutual funds.
The forecast expects a decline in the price of Bitcoin to the levels of 32000, 31500 and 31000 dollars. Ethereum will decline to the levels of 2000, 1970 and 1950 dollars, and XRP - to the price values of 57, 55 and 52 cents.