How Did 12 July Crypto News Impact the Market?

3 Must-Read Topics from 12 July Crypto News

On 12 July crypto news, Bitcoin price, IREN share prices, and Partior’s Series B funding were among the highlights. Bitcoin continued to trade at a certain level of resistance despite volatile market conditions, while IREN shares plummeted. On the other hand, blockchain-based payment platform Partior had a successful Series B funding round, strengthening its position in the industry and increasing its future growth potential.

• The value of XRP expressed in bitcoin (XRP/BTC) is rising for the third day in a row and is at an all-time high.
• The introduction of indexes and reference rates for XRP and Internet Computer (ICP) was announced on Thursday by CME and CF Benchmarks.
• The benchmark reference rates will increase institutional adoption, according to Brad Garlinghouse, CEO of blockchain payments company Ripple Labs Inc.

Bitcoin Fails to Break the $60,000 Threshold: Price Falls 2.4%, CD20 Declines 2.3

After retreating from the $60,000 barrier level on Thursday, the Bitcoin price had a 2.4% decrease from the previous day and was trading at over $57,000 in the European morning. 2.3% was lost by the CoinDesk 20 Index (CD20). The inability of Bitcoin to continue rising amid encouraging macro news points to further price declines in the near future.

IREN Shares Fall 14% After Culper Research Report: Texas Facility Not Ideal for AI

Even though experts have found that Iris Energy‘s Childress, Texas facility is not ideal for AI, Bernstein claimed in a research that the site is well suited for the company’s focus on bitcoin mining. Following a Culper Research short-selling research that highlighted the site’s shortcomings as a possible hub for artificial intelligence (AI) and high-performance computing (HPC), IREN shares plunged nearly 14% on Thursday.

World’s Three Largest Banks Raise $60 Million Series B Funding for Partior

The three largest banks in the world—JPMorgan, DBS, and Standard Chartered—have partnered to create Partior, a blockchain payment platform, and have raised $60 million in Series B funding. Peak XV Partners oversaw the investment, and Jump Trading Group and Valor Capital Group also contributed. Partior wants to create uniform interbank payment rails for quick clearing and settlement using blockchain technology.

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