Today's Focus: Central African Republic Launches "Sango" Crypto Hub
The Central African Republic (CAR) officially launched its "Sango" crypto hub during the "Sango Genesis Event" on Sunday. This government-backed initiative aims to:
- Attract global crypto talent and businesses
- Enhance local Bitcoin adoption
- Develop a regulatory framework for cryptocurrencies
- Build infrastructure, including a "Crypto Island" and the "Sango Coin" (CAR’s official digital currency)
President Faustin-Archange Touadéra stated:
"Citizens will benefit from a thriving economy with job opportunities and low-cost virtual transactions, bypassing traditional banking bureaucracy. This technology will reduce costs across Africa—we can’t afford to wait."
Today’s Chart: OpenSea’s June Trading Volume Plummets 73%
NFT marketplace OpenSea saw a 73.2% drop in monthly trading volume (June: $697M** vs. May: **$2.6B)—the lowest since July 2021.
Crypto Market Snapshot (July 4):
| Asset | Price | 24h Change | Key Insight |
|-------------|------------|------------|----------------------------------|
| BTC | $20,218 | +5.47% | Bulls held $19,600 monthly support |
| ETH | $1,145 | +7.14% | Buyers emerged below $1,000 |
| SOL | – | +9% | Outperformed majors |
| SAND | – | +8% | Gaming tokens rallied |
👉 Why Ethereum’s rebound matters for altcoins
Influencer Quote: Peter Schiff Warns of "Severe Recession"
Peter Schiff, CEO of Euro Pacific Capital, tweeted:
"This recession will be the worst yet. Prolonged low rates created massive imbalances needing correction."
Trending News (July 4–5)
Regulations & Hacks
- UK Army’s social media hacked to promote crypto scams
- Singapore’s central bank considers stricter retail crypto safeguards
- China’s tech giants (Alibaba, Tencent, Baidu) enforce NFT buyer ID checks
Corporate Moves
- CoinShares acquires France’s Napoleon AM
- US power company explores Bitcoin mining
- Meitu reports $52.3M loss from crypto holdings
DeFi & Blockchain
- Polkadot adds 3 execs to core leadership
- Solana’s Crema Finance loses $8.8M in exploit
- Vauld halts trades, seeks restructuring
FAQs
Q: Why did BTC and ETH surge on July 4?
A: Thin holiday trading volume amplified bullish momentum after holding key support levels.
Q: What’s Sango Coin’s purpose?
A: To streamline payments and boost CAR’s crypto economy, backed by government initiatives.
Q: Is OpenSea’s decline a sign of NFT market collapse?
A: Not necessarily—broader crypto winter and competitor growth (e.g., LooksRare) contributed.
👉 How to identify crypto market reversals
Author: Gate.io Researcher Peter L.
Disclaimer: Not investment advice. Gate.io retains all rights.
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