AI startup Succinct has introduced its PROVE token as part of a new protocol designed to enhance legal contract analysis and verification using zero- knowledge proof technology. Succinct, an AI startup which raised $55 million to build tools that automate and…

Paradigm-backed AI startup Succinct launches token to transform contract analysis

Data of the Bitcoin Stablecoin Supply Ratio suggests investors have stronger 
purchasing power today than during the previous bull rally. Bitcoin Stablecoin 
Supply Ratio Showing Neutral Purchasing Power In its latest weekly report, the 
on-chain analytics firm Glassnode has talked about the latest trend in the 
Stablecoin Supply Ratio (SSR) of Bitcoin. This indicator measures the ratio 
between the Bitcoin supply and the supply of stablecoins. Related Reading: 
Dogecoin Bounces Back With 8% Gain—Is $0.26 In Sight? Stablecoins are 
cryptocurrencies that have their price tied to a fiat currency. The SSR 
specifically measures the supply of the stablecoins tied to the US Dollar 
(USD). As for the role that these assets play in the sector, Glassnode 
explains: Stablecoins have become a critical component of the digital asset 
ecosystem, serving as the primary quote asset for trading across both 
centralized and decentralized venues. Functionally, they represent readily 
available capital, or &#8220;dry powder&#8221;, available for digital asset purchases. As 
such, the SSR compares the Bitcoin supply against this available dry powder. 
In other words, it tells us about how the cryptocurrency compares against the 
investor&#8217;s purchasing power. When the value of the metric is high, it means 
the BTC supply is high compared to the stablecoin supply. In other words, the 
trader&#8217;s purchasing power is weak. On the other hand, the indicator being low 
suggests there is high dry powder available relative to the BTC supply. In the 
context of the current discussion, the SSR itself isn&#8217;t of focus, but rather a 
modified indicator called the SSR Oscillator. According to the analytics firm, 
the metric measures &#8220;how the 200d SMA of the SSR moves within the Bollinger 
Bands BB(200, 2).&#8221; Now, here is a chart that shows the trend in the Bitcoin 
SSR Oscillator over the last few years: As displayed in the above graph, the 
Bitcoin SSR Oscillator has been close to the zero mark during the last couple 
of months, indicating the investor purchasing power is more or less neutral 
compared to the size of the BTC supply. Related Reading: Bitcoin Short-Term 
Upper Bound Is $117,000, Glassnode Says From the chart, it&#8217;s visible that the 
trend was different during the rally beyond $100,000 that occurred late last 
year. Back then, the SSR Oscillator took on a highly positive value, 
suggesting the stablecoin supply was low relative to BTC. The cryptocurrency 
is currently also trading around the same levels as then, yet the SSR is 
showing a different story. &#8220;Despite similar price levels, this shift suggests 
that investor purchasing power has improved markedly, reflecting stronger 
underlying demand conditions,&#8221; notes the report. BTC Price At the time of 
writing, Bitcoin is trading around $109,500, up over 2% in the last seven 
days. Featured image from Dall-E, Glassnode.com, chart from TradingView.com

Bitcoin Latest Rally Backed By Stronger Purchasing Power: Report

HSBC has teamed up with ADX and FAB to introduce the MENA region’s first 
digitally native bond on blockchain, adding to HSBC&#8217;s growing portfolio of 
digital bond issuances on its Orion platform. HSBC has partnered with Abu 
Dhabi Securities Exchange…

HSBC Orion to launch MENA’s first digitally native bond with ADX and FAB

The U.K and and Singapore have agreed to pursue collaborations on several 
areas related to digital finance, including the use of artificial intelligence 
in finance and asset tokenization. During the 10th Financial Dialogue held in 
London recently, representatives from both…

U.K and Singapore agree to join forces on advancing AI and tokenization

Crypto bettors have staked millions on whether the outfit technically counts 
as a suit, while a renowned fashion industry commentator hasn’t helped, 
calling it “both a suit and not a suit.”

How Zelensky’s ‘suit’ became the center of a massive Polymarket fight

Bitcoin may see a spike in short-term price swings as nearly $3 billion worth 
of options contracts approach expiration on July 4. According to data from 
Deribit, the leading crypto options exchange, these contracts are set to 
expire at 08:00…