CoinMarketCap Daily, July 20: OpenSea Becomes a Crypto Unicorn
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CoinMarketCap Daily, July 20: OpenSea Becomes a Crypto Unicorn

1 year ago

Today in the crypto markets, Bitcoin seems to be sinking while OpeanSea gets a large funding round.

CoinMarketCap Daily, July 20: OpenSea Becomes a Crypto Unicorn

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Bitcoin Falls Below $30,000 💔

Bitcoin has fallen below $30,000 for the first time in almost a month. Tuesday’s painful 24-hour losses of 5.4% have contributed to a seven-day decline of 10% — and as is normally the case, the sell-offs are even worse among altcoins. BTC’s decline may be linked to Grayscale Bitcoin Trust unlocking a large chunk of shares over the weekend. Read more.

Institutions Still Interested? 🧐

Some 70% of institutional investors expect to gain exposure to cryptocurrencies within the next five years, according to Fidelity Digital Assets. This could be through buying BTC directly or snapping up the stock of a company in the sector. One limiting factor with the research lies in how the poll was performed between December 2020 and April 2021. Here's the latest.

Digital Yuan Fears Raised 🇺🇸

Three U.S. senators are calling for American athletes to be forbidden from using China’s digital yuan at the Winter Olympics in Beijing next year. This is over concerns that it allows the government "to know the exact details of what someone purchased and where." Beijing has hit back — telling them to "stop making sports a political matter." Check out our story.

OpenSea Is Crypto 'Unicorn' 🔥

The NFT marketplace OpenSea has closed a $100 million Series B funding round. This means it now has a valuation of $1.5 billion — achieving the status of "unicorn." The platform's CEO Devin Finzer said: "We think NFTs are really one of those once every couple-of-decades paradigm shifts that is just incredibly exciting." Find out more here.
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