Ordinals on the Bitcoin network have been resilient to the 35% drop that the NFT market experienced in the second quarter of this year. 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.
Interest in NFTs on Bitcoin continues
📍The Bitcoin blockchain remains the second largest in the NFT market today. According to data from CoinGecko, the popularity of ordinals on the Bitcoin network has remained high despite the NFT market suffering a 35% decline in the second quarter of this year.
In his report "2023 Q2 Crypto Industry Report”, the cryptocurrency price monitoring platform highlighted that Ethereum remains the dominant blockchain for NFT trading. However, Bitcoin has displaced other blockchains such as Immutable X, Polygon Network, Solana, and Flow, taking second place as the network with the highest NFT trading volume.
CoinGecko's report also highlights the calm that the cryptocurrency industry experienced between the months of April and May. However, during this period the market capitalization of cryptocurrencies increased slightly by 0,14%, reaching a total value of $1,24 trillion.
On the other hand, the arrival of the Shapella update to Ethereum caused ETH staking to grow by more than 30% in the second quarter.
Société Genérale receives license to offer cryptocurrency services
📍One of Europe's leading banks, Société Genérale, has been authorized to offer its clients financial services in cryptocurrencies. The French Financial Markets Authority (AMF) has granted Société Genérale a digital asset service provider license, which allows the bank to offer services such as buying and selling, custody, trading, negotiation and transfer of cryptocurrencies.
The license was granted to Forge, the bank's crypto trading platform.
According to the AMF, the bank can now hold custody of digital assets on behalf of its clients, as well as offer crypto-asset trading and buying services, manage its clients' digital asset portfolios, provide advice to investors interested in this asset class, and much more.
Currently, France's financial markets authority has granted regulatory licenses to operate in cryptocurrencies to a total of 85 companies and institutions.
Tesla keeps its bitcoins
📍Tesla's Bitcoin reserves remain intact. Tesla, the electric car company owned by Elon Musk, did not report any bitcoin sales in the second quarter of this year. In the presentation of the results, results for the second quarter (Q2)Tesla said it still holds its bitcoins, currently worth $184 million.
Tesla had invested $1.500 billion in Bitcoin in 2021. However, in order to improve its cash flow, the electric car company made the decision to sell 75% of its cryptocurrency reserves during the second quarter of 2022. The news had a major impact on the market and the crypto community, stimulating a slight drop in the price of BTC at the time. However, at the end of 2022 it was learned that Tesla still owned 10.725 BTC.
Continue reading: Investors opt for cryptocurrency-based ETFs
Main image from Bitcoin Magazine
IMPORTANT: The content of this article is for informational purposes only and, in no case, what is written here should be taken as investment advice or recommendations. Bit2Me News reminds you that before making any investment you should educate yourself and know where you invest your money, as well as the pros and cons of the system. We separate ourselves from the actions and consequences that ignorance may entail. If you decide to invest in this or another asset class, you are solely responsible for the consequences that your decisions and actions may have.
