Bitcoin continues to be under bearish influence and as long as we are below $29,500, the chances of further decline are high. Sellers are increasingly testing the price of $29,000, but so far without fixing it. Below, the key support level is $28.250.
Unfortunately, investors have been wary of risky assets lately, and the US stock market is under pressure. The US inflation report on August 10 will be a key benchmark this week.
Moody's downgraded the ratings of 10 US banks. Among those whose credit ratings were downgraded by Moody's: M&T Bank, Webster Financial Corporation, BOK Financial, Old National Bank, Pinnacle Financial Partners Inc. and Fulton Financial Corporation. Moody's cited higher funding costs, a potential decline in capital adequacy in the sector, and growing risks associated with commercial real estate loans amid weakening demand for office space in the United States as the reasons for the downgrade of a large number of US banks.
The total amount of ETH locked on the Ethereum network reached a new all-time high of 27.03 million, up 40% from Shapella. Despite the popularity of ETH staking, staking income is declining.
Payments company PayPal on Monday said it is launching its US dollar stablecoin to boost the adoption of digital currencies for payments and transfers. The stablecoin, known as PayPal USD, is backed by US dollar deposits and short-term US Treasuries, according to the company.
Over the past week, Chainlink whales have bought approximately 14 million $LINK worth over $100 million!
Expanding the functionality of the telegram bot Unibot led to an increase in the price of UNIBOT by 22%.
The most discussed topics on social networks in the last 24 hours:#PayPal#Kraken#Stablecoin#moons.
