The **CoinDesk 20 Index (CD20)**, tracking the top 20 digital assets, saw a positive weekend performance with **NEAR (+7.1%)** and **AVAX (+5.8%)** leading the gains. **Nineteen out of 20 assets** in the index closed higher, showcasing a bullish sentiment across the market. **ATOM (-1.2%)** was the sole laggard, while **BCH (+0.0%)** remained practically unchanged. The overall index climbed by **3.1% (+64.67)** since last Friday's close, currently trading at **2155.7**. This positive performance highlights a growing confidence in the cryptocurrency market, particularly in the **altcoin sector**, as investors continue to seek opportunities for growth beyond **Bitcoin**. 

Over the weekend, NEAR and AVAX lead the CoinDesk 20 with only one asset posting a loss.

MarketsOver the weekend, NEAR and AVAX led the CoinDesk 20 with only one asset posting a loss.By CoinDesk Indices, Tracy StephensJul 1, 2024 at 1:49 p.m. UTCShare on FacebookShare on LinkedInShare on XCoinDesk 20 leaders (CoinDesk Indices)Share on FacebookShare on LinkedInShare on XCoinDesk Indices (CDI) presents its daily market update, highlighting the performance of leaders and laggards in the benchmark CoinDesk 20 Index (CD20).The CoinDesk 20 is currently trading at 2155.7, up 3.1% (+64.67) since last Friday's close.Nineteen out of 20 assets in the gauge are trading higher.Leaders: NEAR (+7.1%) and AVAX (+5.8%).Laggards: ATOM (-1.2%) and BCH (+0.0%).CoinDesk 20 (CD20) is a broad-based index that tracks top digital assets and is investible on multiple platforms.Edited by Stephen Alpher.DisclosurePlease note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.CoinDesk IndicesTracy StephensTracy Stephens is a Senior Index Manager at CoinDesk Indices.Follow @tracysteph_ on TwitterRead more aboutCoinDesk 20CoinDesk IndicesMarkets

CoinDesk 20 Performance Update: NEAR and AVAX Lead

NEAR and AVAX Lead CoinDesk 20 Performance with Strong Gains

### Bitcoin's Resurgence

Bitcoin has made a **remarkable comeback**, bouncing back to **$62,000** amidst a focused economic outlook. CNBC Crypto World provides the latest insights, news, and daily trading updates from the digital currency markets.

### Featured Interview

In today’s episode, **Jeremy Allaire**, CEO of Circle, shares his perspectives on the company’s plans to go public and its strategic positioning in a **low-rate environment**. This discussion highlights the evolving landscape of the cryptocurrency industry and the potential paths for growth and innovation.

Stay tuned for more high-profile interviews, explainers, and unique stories that capture the essence of the ever-changing crypto world. 

![Crypto World](https://www.cnbc.com/cryptoworld/)

CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Jeremy Allaire, CEO of Circle, provides an update on the company's plans to go public and its strategy in a lower-rate environment.

Bitcoin Hits $62,000: Insights from Circle's CEO on the Future of Crypto

## Bitcoin's Rising Popularity

The **cryptocurrency** landscape is witnessing a significant surge in interest, particularly in the state where a mining facility is set to activate approximately **10,000 computers** for its operations. This move is indicative of the growing **enthusiasm** surrounding Bitcoin and its potential.

As Bitcoin continues to gain traction, more individuals and businesses are recognizing its value and potential as a **financial asset**. The increasing number of mining operations points to a robust future for Bitcoin, suggesting that the **market sentiment** is leaning bullish as more players enter the space.

![KIII TV Logo](https://www.kiiitv.com/assets/shared-images/logos/kiii.png)

The excitement around Bitcoin is not just limited to mining; it also encompasses **investors** and **enthusiasts** who are eager to explore the opportunities that cryptocurrency presents. With this growing interest, it's clear that Bitcoin is positioned to play a crucial role in the financial landscape moving forward.

The cryptocurrency has seen large interest across the state with a mining facility here looking to turn on an estimated 10,000 computers for their operation.

Bitcoin's Popularity Soars: A Look at the Growing Interest in Cryptocurrency

### A New Era of Financial Freedom
Senator **Mike Lee** and Representative **John Curtis** recently emphasized the revolutionary potential of **digital currency** during the **Permissionless conference** in Salt Lake City. They argue that it signifies a new era of **financial freedom** and **personal privacy**, akin to the dot-com boom.  

However, they expressed deep concern over the potential for **overreaching regulation** by Washington, which could stifle the burgeoning industry. Lee warned that if the **Federal Reserve** were to create a centralized digital currency, it would be the worst possible outcome for the crypto landscape.  

### The Dangers of Regulation
Lee highlighted that the U.S. dollar's instability, exacerbated by excessive printing, necessitates the existence of cryptocurrencies. He pointed out that the **second worst outcome** would be if the federal government regulated established cryptocurrencies like **Bitcoin** and **Ethereum** into oblivion. He urged for a hands-off approach similar to that taken with the internet three decades ago, allowing innovation to thrive without excessive oversight.  

### A Vision for Innovation
During the conference, Curtis, who is favored to win the upcoming Senate race, echoed Lee's sentiments. He discussed the future of **Bitcoin mining** and highlighted the need for **light regulations** to foster innovation in Utah, a state he believes is primed to lead in the crypto sector due to its history of **entrepreneurial spirit**.  

### Legislative Efforts
Both lawmakers are seen as **crypto champions**; Curtis has co-sponsored bills aimed at preventing the Federal Reserve from issuing a central bank digital dollar and ensuring transparency in cryptocurrency technologies. They also condemned regulatory overreach from the **Securities and Exchange Commission** and expressed a commitment to protect the interests of Utah’s **600,000 cryptocurrency owners**.  

### The Privacy Debate
Lee introduced the **Saving Privacy Act**, which aims to prevent federal databases from collecting personal financial information without Congressional approval. He warned of a trend among politicians to push for heavy regulation of significant industries, including cryptocurrencies, which could threaten individual freedoms.  

Both Lee and Curtis believe that if cryptocurrency can be safeguarded from excessive federal intrusion, it can become a bastion of **free market** principles and privacy.

Sen. Mike Lee and Rep. John Curtis said the government should limit crypto currency regulation at the Permissionless conference in Salt Lake City. 

Senators Champion Cryptocurrency as Key to Financial Freedom and Privacy

It's been a **volatile week for the crypto markets**, with significant movement in major cryptocurrencies. As of 4 p.m. ET on Friday, **Bitcoin (CRYPTO: BTC)** has surged **5.6%** in just 24 hours, while **Ethereum (CRYPTO: ETH)** has climbed **3.9%**. In a notable rise, **Dogecoin (CRYPTO: DOGE)** has jumped **6.3%** today.

### Understanding the Market Dynamics
The recent market fluctuations were driven by **inflation data** released on Thursday, which indicated that consumer prices have risen **2.4%** year-over-year. Excluding volatile items like energy, core inflation showed an increase of **3.3%**. This sparked fears that the **Federal Reserve** might not cut interest rates as aggressively in 2024 as previously hoped.

### Crypto and Interest Rates
Despite being marketed as an alternative asset, **crypto** has been trading in correlation with **growth stocks** for some time. The inflation data is crucial as it influenced the Fed's rate-hiking cycle that began in 2022, adversely affecting both growth stocks and crypto. The recent inflation report dampened hopes of a return to lower rates, particularly since the core inflation rate exceeded the Fed's target of **2%**.

### Legal Battles in the Crypto Space
In a notable legal move, **Crypto.com** has filed a lawsuit against the **SEC** following a **Wells Notice** it received in August, challenging the SEC's authority and procedures. This comes after several legal victories for crypto exchanges and token developers, especially as prominent tokens like **Solana** and **ADA** were identified as securities in the SEC's notice.

### The Future of Crypto
The week has been characterized by volatility, influenced by factors similar to those affecting the stock market. However, the long-term outlook for crypto may be challenged if **blockchain innovations** primarily utilize **stablecoins** for transactions. A recent tracker from **Visa** reported **$1.6 trillion** in stablecoin transaction volume over the last month, indicating a potential shift away from traditional crypto tokens like Bitcoin and Ethereum.

### Investment Considerations
Before investing in Bitcoin, consider that the **Motley Fool Stock Advisor** analysts have identified **10 top stocks** for investors, with Bitcoin not making the list. Historical performance shows that stocks recommended by the service have significantly outperformed the S&P 500 since 2002.

![Crypto Market Surge](https://s.yimg.com/ny/api/res/1.2/Bv_zGPm7A0KGr79XADTCzg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTU0MDtjZj13ZWJw/https://media.zenfs.com/en/motleyfool.com/2ed928e701cf8a22cb9e648da20e388f)

Thursday's panic has passed, and the bulls are back in control.

Crypto's Remarkable Resurgence: Bitcoin, Ethereum, and Dogecoin Rally Amid Market Turbulence

## MicroStrategy's Ambitious Goal

MicroStrategy (**MSTR**) stock soared over **15%** on Friday as co-founder and executive chairman **Michael Saylor** revealed the company's aspiration to achieve a **$1 trillion valuation** as a **Bitcoin (BTC-USD)** bank. This bold statement came during a discussion with analysts from **Bernstein**, who currently hold an **Outperform rating** on MicroStrategy with a **price target of $290** per share.

### Insights from Analysts

Saylor's remarks have stirred significant interest in the market, particularly as institutions increasingly recognize the potential of cryptocurrencies. Bernstein's positive outlook reflects a growing confidence in MicroStrategy's strategic direction and its focus on Bitcoin as a core asset.

For more expert insights and analysis on the latest market action, check out more on **Market Domination**.

MicroStrategy (MSTR) stock took off on Friday, rising by over 15% as co-founder and executive chairman Michael Saylor told Bernstein analysts the company is currently aiming for a $1 trillion valuation as a bitcoin (BTC-USD) bank. Bernstein has an Outperform rating on MicroStrategy with a $290 per share price target. Julie Hyman and Josh Lipton report more on Saylor's comments. To watch more expert insights and analysis on the latest market action, check out more Market Domination&nbsp;here. This post was written by Luke Carberry Mogan.

MicroStrategy Aims for a Groundbreaking $1 Trillion Valuation as a Bitcoin Bank

As the **S&P 500** reached a record high, marking its two-year bull market anniversary, it’s crucial to compare this momentum with **Bitcoin’s** staggering performance. While the S&P 500 has climbed **60%** to around **5,800 points**, Bitcoin has soared **220%**, jumping from approximately **$20,000** to over **$63,000**.

The **Nasdaq composite** has also performed well, rising **78%**, while the **Dow Jones Industrial Average** increased by **43%**. However, these figures pale in comparison to Bitcoin’s massive gains.

Despite Bitcoin's struggles to reach new peak prices recently, analysts point to various factors that link its performance to major stock indices, including macroeconomic influences and innovative products that allow traditional investors to gain exposure to Bitcoin without directly buying it.

After hitting a low of **$14,750** in November 2022, following the FTX exchange collapse, Bitcoin briefly surged to **$73,000** in March. Currently, it trades at **$63,250**, about **14%** below its peak.

Some analysts, like **Ryan Lee** from Bitget Research, speculate that Bitcoin’s price could range between **$50,000** and **$80,000** by year’s end, influenced by the upcoming U.S. presidential election.

The correlation between Bitcoin and the S&P 500 can be attributed to the **Federal Reserve’s** balance sheet expansion, which has reached over **$7 trillion** since the 2008 financial crisis. This liquidity has benefitted both asset classes.

Experts like **Brian Rudick** from GSR suggest that while both Bitcoin and the S&P 500 have experienced overlapping bull runs, the causes differ. The S&P’s rise is linked to increasing corporate profits, while Bitcoin’s surge is significantly impacted by the launch of **spot Bitcoin ETFs**, which have attracted **$18.6 billion** since January.

Historically, Bitcoin’s correlation with equities has been low, but increased institutional participation is shifting this dynamic, causing Bitcoin to behave more like traditional asset classes in the future.

The S&P 500 is up 60% over the last two years, but Bitcoin's price jump during the same span has crushed that mark.

Bitcoin's Explosive Growth: Outshining Wall Street's Bull Run

### Warning from Lauderdale County Sheriff’s Office

The **Lauderdale County Sheriff’s Office** has issued a **warning** regarding a **Bitcoin scam** where individuals are impersonating deputies. This fraudulent scheme involves scammers contacting victims, claiming to be law enforcement officers, and requesting payment in **Bitcoin** to resolve supposed legal issues.

### How the Scam Works

In this scam, victims receive calls or messages from individuals who claim to be deputies. They are then instructed to pay in **Bitcoin** to avoid arrest or to settle fines. It is crucial for residents to understand that law enforcement will **never** demand payment in cryptocurrency.

### Protect Yourself

- **Do not engage** with these scammers. If you receive such a call, hang up immediately.
- Always verify the identity of individuals claiming to be law enforcement by contacting the **Sheriff’s Office** directly.
- Report any suspicious activity to local authorities to help prevent others from falling victim to these scams.

Stay informed and vigilant to protect yourself from potential fraud.

NEAR and AVAX Lead CoinDesk 20 Performance with Strong Gains

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Other Latest News

Bitcoin Hits $62,000: Insights from Circle's CEO on the Future of Crypto

Bitcoin's Popularity Soars: A Look at the Growing Interest in Cryptocurrency

Senators Champion Cryptocurrency as Key to Financial Freedom and Privacy

Crypto's Remarkable Resurgence: Bitcoin, Ethereum, and Dogecoin Rally Amid Market Turbulence

MicroStrategy Aims for a Groundbreaking $1 Trillion Valuation as a Bitcoin Bank

Bitcoin's Explosive Growth: Outshining Wall Street's Bull Run

Beware: Bitcoin Scam Impersonating Lauderdale County Deputies

Other Latest News

Bitcoin Hits $62,000: Insights from Circle's CEO on the Future of Crypto

Bitcoin's Popularity Soars: A Look at the Growing Interest in Cryptocurrency

Senators Champion Cryptocurrency as Key to Financial Freedom and Privacy

Crypto's Remarkable Resurgence: Bitcoin, Ethereum, and Dogecoin Rally Amid Market Turbulence

MicroStrategy Aims for a Groundbreaking $1 Trillion Valuation as a Bitcoin Bank

Bitcoin's Explosive Growth: Outshining Wall Street's Bull Run

Beware: Bitcoin Scam Impersonating Lauderdale County Deputies