- Binance faces increased regulatory pressure.
- MicroStrategy expands its Bitcoin holdings.
- Axie, a blockchain game, enjoys increased public interest.
- BTC rides bullish waves above $42K
The crypto space has seen wild movements in July. From Binance’s regulatory concerns to Axie’s massive surges, let us review what the crypto market had over January.
Binance Exchange Regulatory Issues
The month started with Barclays blocking its customers from using their cards to transact in Binance. The bank’s decision took effect immediately on 5 July. As a result, the UK FCA announced that BML (Binance Markets Ltd) operates illegally in the United Kingdom market. However, Binance declared that BML, being a separate entity, doesn’t offer services or products on Binance.com. That way, the FCA ruling couldn’t affect the exchange.
Meanwhile, the latest news suggests the Binance’s CEO wants to step down amid increased pressure by regulators. The crypto platform experienced massive attacks from nations like Malaysia, Japan, Cayman Island, and Thailand.
MicroStrategy Expands Its BTC Holdings
MicroStrategy, a mobile software company, shared its Q2 2021 financial stats. Its BTC holdings caught attention among other discussed topics. Michael Saylor, the firm’s CEO, expressed his joy when talking about his company’s digital asset implementation. The executive admitted that their recent capital gains allowed the company to expand its digital holdings, exceeding 105,000 BTC at the moment. Saylor recorded a video elaborating his opinions concerning digital assets and humanity. He believes that BTC will solve financial hurdles in the future.
Axie Infinity Upticks
Axie Infinity, a blockchain game, continues to make headlines with its amplified public interest. The ETH-based NFT game attracted crypto enthusiasts with its Pokemon theme. Remember, AXS had its value rising by 45% as we start this August. Also, the altcoin managed to claim its ATH in one night. Online gamers can play the game using iOS, Android, Windows, and Mac.
Bitcoin Rises Above $40K
Bitcoin has recovered gradually after the unpredictable swings that saw it dropping to $28,000. The leading crypto had enough bullish strength to break the resistance at $32K and $35K.
Bitcoin managed to secure its spot above $40K as July ended. While writing this, BTC trades near $41,631.
Feel free to add anything that happened in the crypto market in July.