Crypto weekly: Bitcoin breaks freefall
STORY: This is Crypto Weekly, with your top stories on alternative currencies.
Bitcoin has broken its freefall with its best performance since October.
The leading cryptocurrency jumped more than 17% in July and is currently trading around $24,000.
It’s also getting closer to moving in lockstep with traditional tech market the Nasdaq.
But the gains don’t stop there. Ether rose 57%, its strongest monthly gain since January.
And the value of the global cryptocurrency market now tops $1.15 trillion.
That’s a jump of over $255 billion since the end of June, according to data from CoinGecko.
While some are feeling the crypto climax, others are lost in a heist.
Nomad has been hit by a $190 million theft.
The heist targeted Nomad’s bridge – a toll which allows users to transfer tokens between blockchains.
Blockchain bridges have increasingly become the target of thefts, plaguing the crypto sector.
Meanwhile, slowing economic growth is slashing jobs and hiring.
Jobs at technology companies, crypto exchanges and financial firms are feeling the pinch from higher interest rates, red-hot inflation, and an energy crisis in Europe.
A sign of tough times, the United States economy shrank for the second straight quarter.
In the eurozone, business growth slowed sharply in June due to the rising cost of living.
