Another week of green across the board with the crypto market showing signs of recovering from the major sell-offs earlier this month. Remember how we told you about the billions of dollars worth of Bitcoin being sold on the market by the German government over the last couple of weeks? Well they ran out of Bitcoin last Friday according to ARKHAM intelligence, which means less sell pressure on the market… for now. Market analysts at ARKHAM also pointed out that the Mt. Gox sell-off could be next after over 91k BTC ($5.8B) was spotted moving to new addresses from official Mt. Gox wallets.

We have also seen strong buy pressure in BTC ETF’s with over $860B worth of inflows this week which may be a new record, the traditional finance people are waking up to the magic that is Bitcoin, possibly fueled by the strong support for Bitcoin and the right to Self-Custody by Republican presidential candidate Donald Trump. Rumor is that Trump could announce Bitcoin as a “strategic reserve asset” during a cryptocurrency conference later this month in Nashville.

Looking at our portfolio snapshot from available tokens on Metal Pay we are well and truly in the green, all cryptocurrencies supported are up this week which is a nice feeling indeed if you have been locked in to the market this month. Top performers are XRP, DOGE, BTC, MTL & XPR.

Much anticipated ETH ETF’s are also going live next week, so just like the BTC ETF’s you can expect some institutions and traditional finance to start to take notice of Ethereum and its dominant position in the cryptocurrency market for smart contracts and decentralized finance.

In other news… banks, airports and hotels have all suffered I.T. infrastructure downtime this morning due to a faulty patch deployed by cybersecurity company CrowdStrike resulting in the inability to send money, accept money, or check guests into their flights and hotels. We hope your morning wasn’t too badly interrupted from this outage and remember if you need to send money in a pinch and your bank is offline you can always use Metal Pay!