Cryptocurrency events
The beginning of July was marked by bitcoin’s correction to $53 thousand. Altcoins also reacted with a 20% to 40% drop. However, during the month bitcoin managed to recover and reach $70 thousand.
In the upcoming U.S. elections, there is a tendency to loosen regulatory restrictions on cryptocurrencies. Representatives of government agencies and political parties are increasingly expressing positive assessments of cryptoassets.
For example, the chairman of the Commodity Futures Trading Commission (CFTC) expressed the opinion that 70-80% of cryptocurrencies are not securities.
The easing of regulatory requirements and approving statements of influential government agencies may become a factor contributing to the further development and growth of the crypto industry on the eve of significant political events in the United States
The Fed also noted that inflation has fallen to 3%, the previous figure was 3.3%.
The SEC gave permission to trade spot ETH ETFs to funds such as BlackRock, Franklin Templeton and VanEck. On launch day, trading volume exceeded the $1 billion mark.
Analysts note that meme tokens became the main agenda in the crypto market in the second quarter of 2024. They took the leading positions, leaving such trends as tokenization of real assets (RWA) and artificial intelligence technologies in the second and third places.
Veles Platform News
Traditionally, we start with general figures for the past month.
The total trading volume made on Veles platform exceeded $900 million. These results once again confirm the stable dynamics of our service development.
The total profit received by users in July totaled $3.5 million. The highest profitability was recorded on July 15, when users earned 360 thousand, having executed 106 thousand trading transactions.
Added the ability to track the number of executed orders in backtests. Also added cumulative profit chart, which reflects the cumulative result of all executed deals for a selected period of time.
Favorite backtests for PRO plan subscribers are now displayed in cards on the testing page.
A new method of funding Veles platform is available – now you can make payments via Arbitrum One and Optimism!
Added the ability to close a position by indicator signal with PnL greater than 1%.
Launched a joint promotion with Bybit – We are giving away a pool of funds of 20 000 USDT. Top 20 traders will share the total prize pool.
Added a new pair to the Bybit spot: PIXFIUSDT
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Thank you for being with us and we wish you maximum profit!
Best regards, Veles team.
