Daily News | Tesla Deleted BTC Field, the World's First Blockchain Satellite Was Successfully Launched, DAI Surpassed BUSD to Become the Third Largest Stablecoin

Crypto Daily Digest: the world’s first on-orbit visual blockchain satellite was successfully launched, LTC halving event countdown to 10 days, and DAI surpassed BUSD to become the third-largest stablecoin

According to the Red Star News, at 5:07 am (UTC) on July 22, the “Tai’an” (Star Times-16) satellite was successfully launched into orbit at China’s Jiuquan Satellite Launch Center, carrying the sixth Ceres 1 carrier rocket. This is the world’s first on-orbit visual blockchain satellite, which also marks the completion of the 12th space mission of NationStar Aerospace, and the networking process of the Star Age AI Satellite Constellation will be steadily promoted in 2023.

It is understood that the “Tai’an” (Star Times-16) satellite uses the ADASAT-30 lightweight intelligent satellite platform developed by NationStar Aerospace, and configures high-performance hyperspectral remote sensing payload. Meanwhile, it is equipped with the on-orbit blockchain ADAChain payload and satellite screen innovatively developed by NationStar Aerospace for the first time and will implement the world’s first visual blockchain on-orbit certificate storage and commercial services, and launch a series of space computing content applications such as the world’s first space digital life social platform (Interstellar Immortal Passenger).

OpenSea in the NFT market has announced the launch of Deals, a peer-to-peer NFT exchange feature that helps traders add favorites and interact directly with other collectors. Deals will allow collectors to trade NFTs with each other, including WETH, which is supported by OpenSea’s native NFT protocol, Seaport.

OpenSea added that the goal of thE product is to make the NFT exchange process trustworthy and avoid users being deceived by counterfeit third-party websites or links during transactions.

According to the Tesla car purchase payment interface, the Bitcoin field in the source code has been deleted. It is reported that Tesla announced its support for Bitcoin payment for car purchases on March 24, 2021, and withdrew its support on May 13 of the same year.

Data shows there are still about 10 days (5,868 blocks) before the Litecoin (LTC) block award is halved. The halving is expected to occur on August 2, and the block award at the session will be reduced from 12.5 LTC to 6.25 LTC.

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According to CoinMarketCap data, the market value of the stablecoin DAI has surpassed BUSD to become the third largest stablecoin. At the time of writing, the market value of DAI was $4.598 billion, second only to Tether ($83.8 billion) and USDC ($26.8 billion), while the market value of BUSD was $3.85 billion, ranking fourth in the current market value of stablecoins.

On July 24, Worldcoin, a cryptocurrency company founded by Sam Altman, CEO of OpenAI, posted a picture on social media and wrote “It’s time. 24.7.23,” it implied that important news would be released today.

Today’s Main Token Trends

BTC

The market is currently oscillating in a consolidation phase with no clear direction. It has been unable to break above $30,480 USD and remains supported above $29,500 USD. Utilize the high-selling and low-buying strategy for opportunistic entries. If a breakout occurs, potential targets are $36,000 USD and a top around $40,500 USD. If it falls below $26,500 USD, the possibility of ending this year’s rebound increases.

ETH

The short-term trend has fallen below the first key support in the ascending structure. A conservative approach is to wait for a breakout above $2,036 USD as a bullish signal. The medium-term target is set at $2,358 USD, and breaking above $2,036 USD would signal a turn to a bullish stance.

LTC

Monitor whether LTC can stabilize above $93.39 USD for a potential short-term position. The short-term outlook is a mix of bullish and bearish sentiments.

Macro: Inflation is slowing down, and a 25 bp interest rate hike has become a consensus; Focus on important data this Wednesday and Thursday

According to data, Federal Reserve policymakers are preparing to raise interest rates to their highest level in 22 years on Wednesday, while maintaining a tightening trend, indicating that further action may be taken later this year.

The Federal Open Market Committee (FOMC) is expected to raise interest rates by a quarter of a percentage point to 5.25% -5.5%, which is the 11th interest rate increase in the past 16 months.

The interest rate hike in July was carried out after a pause in June, to slow down the pace of rate hikes when interest rates approached a sufficient level to bring inflation back to the 2% target over time.

Nevertheless, Powell and other policymakers still hope to show a resolute attitude and reserve the option of raising interest rates again to avoid another price surge.

James Knightley, chief international economist of Netherlands International Bank, said: “Inflation is slowing down, but it is not fast enough for the Federal Reserve; as the job market remains strong, officials will not take risks.”

On Wednesday, July 27, 2023, at 19 pm (UTC), the Federal Reserve decided to raise interest rates. The market expects or has agreed that this rate hike will be 25 basis points.

After raising interest rates at 19:30 pm (UTC) on the 27th, Powell will hold a press conference at 19:30 pm (UTC). Many of his speeches are expected to have been partially digested by the market, such as raising interest rates by 25 basis points, but he will be hawkish in emphasizing that the economy is still overheating and will continue to judge whether to raise interest rates in the future or how many times based on data.

Thursday (July 28) is a busy day, with interest rates raised at 19 pm (UTC) and unemployment benefit data for the week released at 13:30 pm (UTC), with a previous value of 22.8. In addition to unemployment data, data such as the initial annual GDP rate for the second quarter will also be released.

This Wednesday and Thursday are crucial days, so it is important to monitor market fluctuations.