US Inflation Rate Slows To 8.5% YoY In July – August 10

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$24,043

Bitcoin price has bounced straight back to the $24,000 level following the announcement of official inflation numbers today.

Top-20 altcoins have also rebounded to where they were Monday, as Ethereum gains 9%, BNB rises 6% and Uniswap rallies 14%.

Top Stories for August 10, 2022 🔥

👉 US Inflation Rate Slows To 8.5% YoY In July

The official Consumer Price Index (CPI) figure has come in at 8.5% in July year-over-year – indicating a slowing of inflation since June.

Chris Kuiper, director of research at Fidelity Digital Assets, stated ahead of the announcement that such a change in the CPI would be viewed as positive for crypto markets, as central banks would have a reason to alleviate rate increases.

Kuiper’s prediction appears to be right thus far, as the crypto market rallies on July’s inflation figure.

👉 Elliptic Introduces Product For Cross-Chain Flow Tracking

Blockchain analytics company Elliptic has announced a new product that can track crypto transaction flows across blockchains, within milliseconds.

Elliptic believes the product, “Holistic Screening”, will be a game-changer for regulatory compliance and tracking stolen funds, which are often routed across blockchains to obscure their trail.

👉 Iran Uses Crypto For $10M Import, Plans Further Transactions

Iran has made its first international import order using cryptocurrency, according to Alireza Peyman-Pak, the Iranian Deputy Minister of Industry, Mine & Trade.

The $10 million deal is the first of many according to Peyman-Pak, who claims that crypto and smart contracts will be widely used in foreign trade by the country by the end of September.