Bitcoin approached $31.000 on Wednesday, after new data on inflation in the United States was released. This and more news in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
Bitcoin reacts to inflation data
📍Bitcoin price experienced a positive streak on Wednesday, boosted by the US Consumer Price Index (CPI) data. According to CoinMarketCap, the price of Bitcoin has approached $31.000 per unit, rising by almost 2% in less than 24 hours. The rise occurred after good data on inflation in the United States was released.
The Consumer Price Index (CPI), published by the Bureau of Labor Statistics, placed inflation in the United States at 3%, moderating for the 12th consecutive month.
Source: CoinMarketCap
Other cryptocurrencies such as Ethereum, Aave, Tron and Bitcoin Cash also traded higher, responding positively to the new data on inflation in the US market.
1inch and SushiSwap join forces
📍1inch Network and SushiSwap protocols have teamed up to boost the value of DeFi. Both protocols will work on creating and developing new opportunities and solutions that will improve the Web3 ecosystem and offer a more complete experience to users.
The developers of DEX aggregator 1inch Network have announced that they have joined forces with DEX and AMM SushiSwap to bring new value to the decentralized community that is part of the DeFi ecosystem.
1inch Network is a decentralized exchange (DEX) aggregator that makes it easy for users to find the best exchange rates and fees in the decentralized finance ecosystem. SushiSwap, meanwhile, is a DEX protocol and automated market maker (AMM) that makes it easy for users to trade ERC-20 tokens.
According to data published by Messari this week, 1inch Network's user base grew significantly in the second quarter of this year, surpassing 4,5 million usersAs of Q2023 3,3, the DEX aggregator's user base was 36,3 million, representing a XNUMX% increase in three months.
Institutional investors want more Bitcoin
📍An opinion poll conducted by Binance reveals the growing interest of institutional investors in Bitcoin, the world's largest cryptocurrency. According to the results of the poll, 63,5% of institutional investors have positive outlook on Bitcoin in the future.
Over the past year, more than 47% of institutional investors surveyed said they had kept their investments in Bitcoin and other cryptocurrencies unchanged, while 35,6% of respondents said they had increased their allocation to cryptocurrencies over the same period. The survey also revealed that 50% of institutional investors have plans to increase their allocation to Bitcoin and other crypto assets in the next 12 months.
48,1% of respondents also claimed to have more than 5 years of experience in the crypto world.
Another finding revealed by the survey conducted by Binance is that second layer (L2) networks are gaining increasing popularity among institutional investors. A large portion of respondents also showed great interest in decentralized applications and pointed to regulation and the discovery of new use cases as the main drivers of the adoption of Bitcoin, cryptocurrencies, and blockchain technology.
The survey was conducted by the cryptocurrency company between March and May, interviewing more than 200 institutional investors from around the world.
Continue reading: 92% of the world's population has heard about cryptocurrencies, according to Consensys
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