Huge congratulations to our CEO at eToro Yoni Assia who is set to join some of the most influential people in the crypto world at a unique lunch with the most influential investor in the traditional markets, the Oracle of Omaha, Warren Buffett.
The event will take place this Thursday at Quince Restaurant in San Fransisco. Justin Sun, the Founder of the Tron Foundation who donated $4.57 million to charity in order to organize this event has the option to bring up to seven people with him.
As I mentioned to Justin on Twitter and he retweeted, Yoni is an excellent choice to bring along because a main goal of eToro has been to bridge the gap between the world of crypto and traditional markets.
Yoni will be joining Sun, along with Charlie Lee the founder of Litecoin, the CEO of Circle the crypto exchange owned by Goldman Sachs, and Helen Hai the head of the Binance Charity Fund. By this count, there may be another three announcements coming in the next 48 hours.
Would like to wish them all the best of luck and success. This will undoubtedly be the most difficult sale you’ve ever had to make but could possibly be the most rewarding if you’re able to bring the sage around.
@MatiGreenspan – eToro, Senior Market Analyst
- New UK PM
- Libra Sentiment
- Crypto Volumes Lagging
Please note: All data, figures & graphs are valid as of July 22nd. All trading carries risk. Only risk capital you can afford to lose.
As the Fed is now in blackout mode ahead of their July 31st meeting and the markets quite certain that they will cut their interest rates on that date, there’s little in the way of market drivers at the moment.
There’s also a lull in earnings announcements today with very few major companies reporting. So it may be a good day to hit the beach really.
Global stock indexes are pretty flat at the moment, as are commodities and currencies across the board. Even crude oil has barely reacted to the news that a British Oil Tanker was hijacked in the Persian Gulf.
One catalyst that has been moving the markets for a few weeks is set to come to a head tomorrow morning when the new Prime Minister of the UK is announced.
The British Pound has been struggling to hold the lows on the anticipation that Boris Johnson, a hard-line Brexiteer who has vowed to leave the EU by the end of October with or without a deal, is set to win the top spot. However, Parliament has already taken measures to deter him from taking such a drastic step once he’s in power. So we can see the GBPUSD is holding for now.
It seems like everyone is weighing in on project Libra and there are so many opinions floating around out there. So, in true eToro fashion, we decided to crowdsource it. Last week we ran a poll of 600 internet users that was designed to be a rough representation of the population of the United States and asked them what they think about project Libra.
Even just finding out how many Americans are familiar with the project is quite interesting and made for some splashing headlines.
Yup, that’s right. In just one month since being announced already 16% of Americans have heard of Libra, which is more than the 12% who know what Ethereum is. Bitcoin is still king of course, with 58% brand name recognition, which still seems pretty low if you ask me.
Things get even more interesting when you break it down into demographics. Here we can see the various responses to the question “How likely are you to try a secure payment service from Facebook”?
As you can see the responses are broken down by gender, age, familiarity with crypto, and if they’re active on Facebook. From this, it’s quite clear that people who have already used crypto and people who already use Facebook are much more likely to try it.
Bitcoin Volumes Lagging
There’s been some very positive news regarding the coming institutional adoption of bitcoin recently, but it doesn’t seem to be inspiring much excitment among cryptotraders today.
Number one is an application from the global asset management firm Fidelity, which if approved will give them a far greater reach into the digital assets market.
The second is from Wall Street’s newest crypto service Bakkt…
Still, volumes and price action today is lackluster to say the least. Messari’s real 10 bitcoin volume is giving a sluggish reading of less than $1 billion. Volumes on the CME Group’s bitcoin futures have been in steady decline lately as well. But the kicker is coming from the blockchain itself where the transaction rate has plunged to 3.65 TPS and the estimated volume at $1.4 billion is the lowest it’s been in more than a month.
So, the crypto table is set, we’re just waiting for the main guests to arrive shortly.
About the Author: Mati Greenspan is a Senior Market Analyst at eToro Connect with Mati on…. eToro: http://etoro.tw/Mati Twitter: https://twitter.com/matigreenspan LinkedIn: https://www.linkedin.com/in/matisyahu/ Telegram: https://t.me/MatiGreenspan Office Phone: +44-203-1500308 (ext:311)
Disclaimer: The opinions expressed in this article do not represent the views of NewsBTC or any of its team members. NewsBTC is neither responsible nor liable for the accuracy of any of the information supplied in Sponsored Stories/Press Releases such as this one.