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Latest Article Crypto market hits $2.8tn as US House passes $1.2tn infrastructure bill

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The value of the overall crypto market surpassed $2.8 trillion, according to CoinGecko.com.

It follows a move by the US House of Representatives to pass the $1.2tn Infrastructure Bill which is almost the same value as the entire market cap of Bitcoin.

The bill was signed into law by President Joe Biden, and was designed to enforce new provisions in relation to crypto-tax reporting for all US citizens.

The bill says some obligations for the crypto community must be fulfilled, including all digital asset transactions worth more than $10,000 to be reported to the IRS.

The overall crypto market cap of $2tn was crossed seven months ago while the $1tn cap was surpassed three months before that. It took 13 years – from the publication of the Bitcoin whitepaper at the end of 2008 – until this January for the market to hit the first trillion.

Records reached by Ethereum and Solana helped push the combined market cap of all cryptos above $2.75 trillion for the first time in its history, while Bitcoin alone is now worth more than US behemoths such as Facebook and Tesla with a market cap above $1.19tn.

Crypto market popular with traditional finance institutions

Compared to these numbers, the world’s largest bank – JPMorgan Chase – has a market cap of $503bn that represents $40bn less than that of Ethereum’s.

Together with the rest of the top 12 world’s biggest banks, it gives an overall market cap of just below $2.7tn for the traditional finance leaders who were strongly resisting new digital money.

However, some of the biggest players in the US and Europe started offering crypto trading services to institutional clients.

One of them is Singapore’s DBS Group, which became one of the first to offer the service to wealthy clients. The country’s Monetary Authority (MAS) also said recently there could be “a role” for stablecoins in future finance “that extends beyond pure speculation and illicit finance”.

Australia’s Commonwealth Bank also confirmed its intention to offer a platform for retail customers to trade cryptocurrencies on its mobile banking app.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

TECHNOLOGY

Dynatrace extends Grail to power business analytics

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Cloud Computing News


Software intelligence company Dynatrace has extended its Grail causational data lakehouse to power business analytics.

As a result, the Dynatrace platform can instantly capture business data from first and third-party applications at a massive scale without requiring engineering resources or code changes.

It prioritises business data separately from observability data and stores, processes, and analyzes this data while retaining the context of the complex cloud environments where it originated.

Dynatrace designed these enhancements to enable business and IT teams to drive accurate, reliable, cost-effective automation and conduct efficient ad hoc analytics covering a wide range of business processes. Examples include order fulfillment and bill payments, service activation and customer onboarding workflows, and the impact on revenue from new digital services. Today’s announcement builds on capabilities that Dynatrace launched in October 2022, leveraging Grail to power log analytics and management. The company expects to continue to extend Grail to power additional development, security, IT, and business solutions.

Organisations depend on digital services to drive revenue, customer satisfaction, and competitive differentiation. To optimise these services and user experiences, business and IT teams increasingly rely on insights from various business data, including application usage, conversion rates, and inventory returns. Yet, traditional business intelligence tools lack the speed, scale, flexibility, and granularity required to deliver insights about services built on complex cloud architectures. In fact, according to a study from Deloitte, two-thirds of organisations are not comfortable accessing or using data from their business intelligence tools. Business analytics in modern cloud environments requires a new approach. 

Stephen Evans, head of quality, monitoring, SRE/DevOps technology at PVH, said: “Dynatrace gives us valuable insight into the business impact of our applications’ performance and enables our teams to proactively solve problems, deliver better customer experiences, and drive more value for our organisation.

“This enhanced capability to access and store all of our business data provides the scalability our business needs. It also frees our teams from the constraints of sifting through data to determine what is valuable and what should be stored. Dynatrace’s unique ability to analyze all this data and deliver precise and contextualised answers in real time enables us to improve our digital landscape.”

Bernd Greifeneder, founder and CTO at Dynatrace., said: “To drive digital transformation at scale, organisations need trustworthy and real-time insights from their business data. Existing solutions often rely on stale data, fail to deliver precise answers in IT-context, and require manual maintenance and coding from engineers.

“The Grail causational data lakehouse uniquely positions the Dynatrace platform to overcome these hurdles. By elevating the priority of business data to ensure it arrives unsampled and with lossless precision, even from third-party applications where developers are not accessible, business and IT teams using the Dynatrace platform can now easily access valuable business insights on demand. This has the capability to unlock nearly unlimited business analytics use cases, allowing our customers to instantly answer their most challenging questions with accuracy, clarity, and speed.”

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