Welcome to this week’s newsletter! We’re diving into the latest market shifts, key developments, and exciting market updates:
Bitcoin experienced a notable slump, dropping below $66,000 and continuing its decline to $62,000, influenced by whale traders adopting a risk-off mode, indicating a bearish market sentiment. According to analysts, this shift signifies increased withdrawals from derivatives exchanges. The Crypto Fear and Greed Index fell to a neutral score of 51—the lowest in 51 days—after Bitcoin slipped below $60,000. Spot Bitcoin ETFs saw significant outflows, with $226.2 million withdrawn on June 13. Despite the downturn, MicroStrategy purchased an additional 12,000 BTC.
Regulatory news included the U.S. SEC closing its probe on Ethereum, a win for the Ethereum community. Stablecoins took center stage, with Tether planning a gold-backed asset class and the market bracing for MiCA’s stablecoin regulations. South Korea reviewed over 600 asset listings, and new evidence emerged against Terra founder Do Kwon. In the U.S., Binance faced regulatory hurdles, including a revoked license and fines. Despite market turbulence, 87% of Bitcoin’s circulating supply remained profitable. Altcoins like Pendle and Toncoin showed significant gains, while Ripple sold 250 million XRP tokens, valued at $122.5 million, amidst regulatory challenges.
Last but not least, Former President Donald Trump now advocates for cryptocurrencies, integrating crypto support into his campaign.
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This week in the security tokens market, the total market cap saw a 1.39% increase, reaching $34,758,412,337.53, with a trading volume of $73,019.95, reflecting a 0.42% rise. Currently, 579 tokens are being tracked across 35 marketplaces. The asset class distribution of active tokens is dominated by real estate at 79%, followed by equity (7.5%), debt (7.0%), pooled investment fund interests (4.2%), and asset-backed securities (1.5%). Notably, tokenized debt continues to be a significant application of tokenization, primarily used for bond issuances by investment banks and municipalities, catering to institutional buyers. In the realm of institutional bonds, Germany leads with a market cap of $3.18 billion, followed by significant issuances in the United States ($2.8 billion) and Thailand ($1.6 billion), driven by major issuances from the Bank of China, Bank of Thailand, and Deutsche Börse. The total issued value in this sector stands at $10,819,471,172.
Following the initial announcement of our partnership with Republic and Watford FC, we’ve seen remarkable progress. To date, this initiative has attracted $6,571,723 in reservations and investments, reflecting strong interest and confidence from fans and investors. We are proud to announce that INX will be the exclusive platform where these security tokens can be traded. As the only US-regulated trading platform that integrates crypto, fiat, and security tokens into a unified marketplace, INX provides a secure and efficient environment for all Watford FC token holders to trade and provide an opportunity to maximize their investments. There are 99 days left to invest.
Don’t forget to review the list of primary and secondary security tokens offered on our platform, each representing a different industry and a unique opportunity.
Last week, we asked you to vote on the top trending security tokens if everything were tokenized. The choices were Real Estate, Sports Clubs, Green Energy Projects, and Intellectual Property. Real Estate emerged as the top choice, showing strong interest in fractional property ownership. Sports Clubs followed, highlighting fans’ enthusiasm for investing in their favorite teams. Green Energy Projects and Intellectual Property also garnered significant interest.
One of our followers suggested BTC mining hashrate as a token, with others agreeing on its transparency and on-chain yield against inflation. What other assets would you like to see tokenized? Share your ideas with us!
INX Academy offers multiple articles and guides to help you better understand this evolving market and the wealth of opportunities it has to offer.
Here are a few recommended guides the academy has prepared for you:
Our Twitter poll on tokenization provided only four options, but the world is wide and the opportunities are endless. We’re eager to hear more of your suggestions on Real World Assets (RWA). For example, tokenized shares could revolutionize the investment landscape by converting shares into digital tokens, enhancing accessibility and liquidity. This approach can allow fractional ownership, crypto purchase of shares, 24/7 trading, and enable a broader range of investors to participate. It also enhances transparency and security, facilitates global investments, streamlines transactions, and reduces costs, democratizing the investment process. What else would you want to see tokenized?
As always, we are indebted to the INX community, our invaluable partners who accompany us on this path toward a new digital economy.
The INX Digital Company inc. is an expert in the field of finance, crypto and digital securities.
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