XRP whales accumulate as small holders capitulate

Swiss State Bank BancaStato launches regulated cryptocurrency trading and custody services through Sygnum and Avaloq systems, serving customers in the canton of Ticino, Switzerland. Customers can buy, sell, and hold Bitcoin, ETH, LTC, and SOL through web and mobile applications. Sygnum's B2B platform has been used by over 25 financial institutions, with banking partners including Societe Generale FORGE, PostFinance, and VZ Depotbank. Sygnum announced in late June that its Liechtenstein subsidiary Sygnum Europe AG has obtained a license as a cryptocurrency asset service provider under the MiCA framework.

CryptoQuant analyst Darkfost stated that BTC short-term holders have been experiencing losses for approximately nine consecutive months, with a cost base of approximately $68800 for short-term holders. At present, Bitcoin is trying to hold above $65000, and this group is experiencing a loss of about 4%. $68800 is the key level that Bitcoin should be able to recover from.

The Financial Services Commission (FSC) of South Korea will submit the second phase legislation of the Digital Asset Basic Law, which plans to include digital asset custody in independent business regulation and provide access mechanisms for traditional financial institutions to apply for virtual asset service provider (VASP) licenses, following the EU model. The Financial Supervisory Commission of Korea (FSC) takes a cautious attitude towards forcing exchanges to divest their custody business and tends to prevent conflicts of interest through improved behavior regulation.

The Iranian Revolutionary Guard attacked a US base in Jordan, destroying a radar of the US THAAD missile defense system, hitting and destroying a Patriot system and a C-RAM radar, and igniting the fuel depot at the base.

According to Bloomberg data, the EPS Guidance Momentum Score for companies in the S&P 500 index has risen to its highest level in history, with the proportion of companies raising their profit expectations setting the largest positive deviation on record.