Monday Market Report | July 3rd - 9th, 2023
📢 Weekly TL;DR
Every Monday, we cover the latest developments and trends in the dynamic and ever-evolving world of cryptocurrency. From price movements, industry news and our favorite resources, we strive to provide our readers with a comprehensive overview of the crypto landscape.
Happy Monday, NDAXers!
For the week’s top headlines, please consult the Community News section below because this week, dear NDAXer, our focus in on one man, and one man only: The Founder, Chairman and CEO of BlackRock (the world’s largest asset manager), Larry Fink.
(Oh and by the way, care to guess which 2 crypto assets you can now stake on NDAX? Log in after this newsletter to find out, and see how to start earning crypto passively in just a couple easy clicks...)
📈 Weekly Moves
Market Summary:
Performance:
Market Trends:
Dear crypto asset investor, a few choice words from Larry Fink on Bitcoin:
“The technology is fantastic.”
“The role of crypto—it is digitizing gold, in many ways. Instead of investing in gold as a hedge against inflation (…) or the devaluation of your currency—whatever country you’re in. Let’s be clear, bitcoin is an international asset. It’s not based on any one currency and so it can represent an asset that people can play as an alternative. I would call that the foundation of Blackrock is about: Hope. You invest for retirement because you believe tomorrow is better than today.”
"We’re a believer in digitization of products. You know, ETFs was a big revolution for the mutual fund industry (and it's really taking over the mutual fund industry) and we do believe that if we can create more tokenization of assets and securities--and that's what Bitcoin is--it could revolutionize finance." The Chairman continued:
“What we're trying to do with crypto is make it more democratized (…) and making it much cheaper for investors” He said. “We hope that our regulators look at these filings as a way to democratize crypto and we'll see in the future how that plays out".
“We work really closely with our regulators, and we want to hear from them what are their issues and how can we fix those issues”.
Larry also touched on ESG, the economy and the banking crisis, adding that he foresaw another four 25bps interest rate hikes, totaling 1%.
Finally, when asked what he thought “the most important thing this country needs right now” Mr. Fink brought it back to what he’d earlier positioned as his firm—and Bitcoin’s—core value proposition, answering “We need to bring back hope.”
Well, sir, we could not agree with you more.
Recommended by LinkedIn
As of 07/10/2023 12:30 AM EST, values in CAD.
Keep an eye on the market here 👉 Cryptocurrency Prices
📰 Community News
In the cryptocurrency community, there's always something going on. Here are a few events and happenings that you might be interested in:
For more new stories, visit our LinkedIn
📅 Upcoming Events
Mark your calendars!
📖 Educational Resources
Looking to learn more about cryptocurrency and blockchain? Here are a few resources that we recommend:
In 2018, Ammous authored The Bitcoin Standard: The Decentralized Alternative to Central Banking, the best-selling book on bitcoin. In 2021, he published The Fiat Standard: The Debt Slavery Alternative to Human Civilization. His latest book is Principles of Economics, a comprehensive textbook in economics in the Austrian school tradition. - Coin Stories w/ Natalie Brunell - Why Capitalism is Good & We Don't Need Inflationary Money. Principles of Economics with Saifedean Ammous
On Wednesday, July 5th, BlackRock CEO Larry Fink gave an interview on Fox that made clear that the Bitcoin ETF initiative was coming all the way from the top. NLW analyses the community reaction and argues that it's even more significant than the hype suggests. – The Breakdown w/ NLW – BlackRock's Larry Fink Gives a Laser-Eyed Bitcoin Interview
💸 Share your NDAX Affiliate link!
Join NDAX's tiered Affiliate Program and start earning passive income today! With a highly competitive commission structure, affiliates can earn up to 10% of the trading fees generated by their referred users. That means you have the potential to earn income simply by referring new users to NDAX's platform.
But that's not all! For every new user you refer, you'll automatically earn $10-$25 CAD. And with a 10% commission on every trade made by your referrals, your earnings can really add up.
Thanks for reading our latest newsletter. Don't forget to follow us on social media for more updates and join the conversation on our forums.
Disclaimer: This article is not intended to provide investment, legal, accounting, tax or any other advice and should not be relied on in that or any other regard. The information contained herein is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of cryptocurrencies or otherwise.