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🚨 New Video Alert!! 🚨
As you’ll have no doubt seen, the German government has just finished dumping all of its BTC. It’s fair to say this selling was suppressing the markets, evidenced by the fact that as soon as selling was finalised, BTC’s price rallied as the market sighed a collective breath of relief.
The thing is, Germany isn’t the only country in the world that has a stack of BTC sitting on the sidelines. As it happens, many governments around the world are also Bitcoin whales. This raised the question of what they’ll do with it, and how that could affect the crypto market.
That’s why today, we’ll be looking at just how much BTC - and other crypto - some of these governments hold, how they got ahold of it, what they plan to do with it in the future, and how the impact this could have on the price of BTC.
https://youtu.be/t5MAjbLlrZA?si=kkv7xJDuJtb9VKtO
Читать полностью…
🔔 MARKET MOVING NEWS! (27/07/24)
1️⃣ Ledger Reveals New E Ink Touchscreen Flex Wallet ‼️
Hardware wallet manufacturer Ledger has announced the launch of its new touchscreen wallet – the Ledger Flex wallet. The new wallet builds on the design language and E Ink touchscreen interface established with its previous Stax model. Ledger CEO Pascal Gauthier said Flex and Stax “mark the new standard for Ledger devices.” Ledger has also unveiled its new Security Key app, which offers passkey capabilities as an alternative to conventional passwords.
Source
2️⃣ Michigan Pension Fund Discloses $6.6M Investment In Bitcoin ETFs 💰
According to a recent 13F filing with the U.S. Securities and Exchange Commission, the State of Michigan Retirement System owns 110,000 shares worth of ARK 21Shares Bitcoin ETF as of June 30. The value of the shares at the time of filing was $6,597,800 — a small percentage of the fund’s billions of dollars in assets. This makes Michigan the third US state to explore allocating a part of its pension fund to crypto through exchange-traded funds since Bitcoin ETFs were approved in January.
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3️⃣ SEC Approves Grayscale Bitcoin Mini Trust, Awaiting Registration Statement Greenlight 💸
The U.S. Securities and Exchange Commission (SEC) reportedly approved the 19b-4 form for the Grayscale Bitcoin Mini Trust on Friday. The trust, under the ticker symbol "BTC," is intended to be a “spin-off” of the Grayscale Bitcoin Mini Trust (GBTC), with new shares of the mini trust designed to be distributed to GBTC shareholders as GBTC contributes a certain amount of bitcoin to the trust. Grayscale is now waiting for the registration statement to become effective for the Grayscale Bitcoin Mini Trust. This will allow BTC to operate as US spot Bitcoin ETP alongside GBTC and others.
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4️⃣ WazirX Launches Fair Fund Recovery Plan Post $230M Hack ▶️
Indian crypto exchange WazirX has announced a fair and transparent socialised loss strategy for the recovery of users’ funds lost in a recent $230 million cyberattack. The loss strategy will see WazirX opting for a 55/45 approach. This approach allows users immediate access to 55% of their assets while locking the remaining 45% in Tether-equivalent tokens. By socializing the loss, WazirX aims to distribute the impact evenly across all users, preventing any single group from bearing a disproportionate burden. This approach is expected to facilitate a faster and more flexible resolution than traditional methods.
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5️⃣ U.S. Presidential Candidate Robert F. Kennedy Jr. Promises To Issue Bitcoin-Related Executive Orders If Elected 🔍
U.S. presidential candidate Robert F. Kennedy Jr. has promised to issue three executive orders related to Bitcoin if elected. The first order involves a plan to transfer 200,000 BTC held by the U.S. government to the Department of Treasury as a "strategic asset." The second order will reportedly involve directing the U.S. Treasury to buy 550 BTC daily until the U.S. has a reserve of 4 million BTC. The final order will deem transactions between BTC and the U.S. dollar as unreportable and non-taxable.
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6️⃣ Former FTX Exec Ryan Salame Asks To Push Back Prison Date Following Dog Attack 🐶
Former FTX executive Ryan Salame has reportedly asked a New York court to push back his prison time to get urgent surgery after being "mauled" by a dog while visiting a friend's home. Notably, Salame was sentenced to seven and a half years in prison after pleading guilty to criminal charges last year. Salame was scheduled to appear for his sentencing on Aug. 29th 2024, but his lawyers are asking for that date to be pushed to Oct. 13.
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🔔 MARKET MOVING NEWS! (26/07/24)
1️⃣ Elon Musk’s X Quietly Removes Bitcoin, MAGA Emojis From Hashtags 🤔
Social media platform X (previously Twitter) has reportedly removed the automatically generated emojis accompanying cryptocurrency hashtags. Notably, they had been in use for over four years. X's social media accounts and press pages have not publicly announced the removal, leaving many puzzled and sad.
Source
2️⃣ US Senator Withdraws Support For Elizabeth Warren’s Anti-Crypto Bill 🔍
Republican Senator Roger Marshall has reportedly withdrawn as a cosponsor for the Digital Asset Anti-Money Laundering Act of 2023 - an anti-crypto bill he co-created with Senator Elizabeth Warren in 2022. After Marshall’s withdrawal, 18 senators remain supporting the bill. At the time of writing, it remains unclear why the senator had withdrawn as a co-sponsor of the bill. That said, the seeks to declare a wide range of crypto service providers as ‘financial institutions’, including decentralised wallet providers, validators and miners. It mandates that they be subject to the terms of the Bank Secrecy Act.
Source
3️⃣ Interpol Issues Red Notice for Hong Kong Crypto Promoter 'Coin Young Master' ▶️
According to a South China Morning Post report, the International Criminal Police Organization (Interpol) has issued red notices for two Hong Kong crypto promoters - Wong Ching-kit (aka "Coin Young Master") and his associate Mok Tsun-ting. The red notices were issued at the request of Hong Kong's police force. Both crypto influencers once promoted the beleaguered Dubai-based crypto exchange JPEX, and are currently wanted for theft, fraud, and money laundering.
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4️⃣ TON Blockchain Gasless Transactions Go Live Following Launch Of New Smart Wallet Standard 💎
Gasless transactions are reportedly live on the TON blockchain with the launch of the W5 smart wallet standard. The W5 smart wallet was originally developed by Tonkeeper and subsequently approved as a standard by the TON Core team. It allows users to make transactions using USDT as payment for transaction fees while sending USDT and Notcoin as payment for gas fees when sending Notcoin. As a result, users are no longer required to hold Toncoin to facilitate payments on TON. The new standard also enables advanced parallel processing, allowing users to make up to 255 transactions simultaneously.
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5️⃣ New Jersey Mayor Plans To Invest In Bitcoin ETFs For City’s Pension Fund 💰
Steven Fulop, the mayor of Jersey City since 2013, has revealed that the municipal pension plan of Jersey City, New Jersey, will soon invest in BTC via exchange-traded funds (ETFs). While the mayor did not explicitly state what percentage of the fund would be in crypto, he said it would be similar to the 2% allocated by the Wisconsin Pension Fund. According to Fulop’s tweet, the investment is expected to be completed “by the end of summer.”
Source
6️⃣ VanEck Sees Bitcoin Hitting $2.9M By 2050 💸
In a report published Wednesday, asset manager VanEck stated that it foresees BTC potentially hitting $61 trillion in total market capitalisation ($2.9 million per BTC) in 2050 as a result of massive demand for the decentralised currency as collateral for trade settlement and a reserve for central banks.
Matthew Sigel, head of digital asset research at Van Eck stated,
As we look at the world right now, we see enormous economic imbalances, rising distrust in existing institutions and continued deglobalisation [...] We think many of these distortions stem from ... a massive misallocation of capital since the global financial crisis as G7 governments have abused the printing press, spending borrowed money on impossible goals. Bitcoin ... is the ultimate hedge against this rising fiscal recklessness.
According to data from SosoValue, the nine U.S. spot Ethereum exchange-traded funds saw $133.16 million in net outflows on Wednesday. Specifically, the outflows were led by the Grayscale Ethereum Trust (ETHE) which saw $326.86 million in net outflows. This dwarfed inflows from Fidelity’s FETH ($74.46 million inflows), Grayscale Ethereum Mini Trust ($45.93 million inflows), Bitwise’s ETHW ($29.64 million inflows) and VanEck’s ETHV ($19.84 million in inflows). The spot ether ETFs also generated about $951 million in trading volume on Wednesday, slightly lower than the $1.05 billion in trading volume on Tuesday.
Source
🔔 MARKET MOVING NEWS! (24/07/24)
1️⃣ Ethereum ETFs Hit $107 Million Inflows on Debut: 'Very Solid First Day' 🕯
According to data from Bloomberg, U.S. spot Ethereum ETFs received exactly $106.7 million in net inflows and a total trading volume exceeding $1 billion on their first trading day. This is despite substantial outflows from Grayscale’s Ethereum Trust (ETHE) which topped out at $484 million in outflows. ETHE is also the only fund with outflows. Blackrock's ETHA led with $266.55 million in net inflows, followed by Bitwise ETHW's $204 million, Fidelity FETH's $71.31 million, and Grayscale's Ethereum Mini Trust with $15.15 million. SosoValue data shows that the nine Ethereum ETFs have already accumulated over $10 billion in assets under management.
Source
2️⃣ Crypto Custodian Hex Trust Receives In-Principle MPI License Approval In Singapore ⚡️
Crypto custodian Hex Trust has reportedly received in-principle approval for a Major Payment Institution (MPI) license in Singapore. Notably, the MPI license allows Hex Trust to offer crypto custody and over-the-counter trading services in the country. Hex Trust previously obtained a full Virtual Asset Service Provider license in Dubai in November 2023 and has set up an office in Singapore to serve institutional and corporate clients in the region.
Source
3️⃣ dYdX V3 Website Recovers After DNS Attack, Users Warned To Delete Cache ‼️
The team behind the DeFi giant dYdX have successfully restored version 3.0 of its website after an apparent domain name system (DNS) hijacking attempt on July 23. The recovery comes less than 3 hours after the team announced its compromise. dYdX has warned users to delete the cache and restart their browser before revisiting the website. Coincidentally, the DNS attack occurred just a few hours after Bloomberg reported dYdX v3 was up for sale, with interested buyers including major market maker Wintermute.
Source
4️⃣ Coinbase Narrows Demand for SEC Chair Gensler's Crypto Messages 🔍
Crypto exchange Coinbase has reportedly filed a new motion to compel the U.S. Securities and Exchange Commission to produce Chair Gary Gensler’s private emails amid its ongoing legal battle with the regulator. Notably, the new motion only seeks access to Gensler’s private communications during his time at the SEC as Chair from 2021, among other documents. This is a much narrower scope compared to its earlier request for Gensler’s private communications before and during his time as SEC Chair. The new motion comes after pushback from Judge Katherine Polk Failla last week.
Coinbase Chief Legal Officer Paul Grewal stated,
What we're asking for here, ultimately, is transparency into how the SEC has gone about its business. We think government transparency, by and large, is a good thing. When you're sued by that government in a case they chose to bring, we think it's even more important that we have full line of sight into documents that could bear on our case.
🔔 MARKET MOVING NEWS! (23/07/24)
1️⃣ Gate.io to Shift Japanese Customers to Compliant Crypto Exchanges as it Exits Market ‼️
In an announcement posted yesterday, crypto exchange Gate.io revealed that it was terminating services for all Japanese customers due to “compliance requests” from the country’s financial regulator. Gate.io added that it would assist affected customers in migrating their assets to compliant Japanese crypto asset exchange operators. The exchange also stated it would remove Japanese language support from its platform.
Source
2️⃣ US Spot Ethereum ETFs To Begin Trading On July 23 ⚡️
U.S. regulators have approved spot Ether exchange-traded funds (ETFs) to begin trading in the United States on July 23. The US Securities and Exchange Commission (SEC) approved the final S-1 registration statements necessary for the ETFs to launch on stock exchanges, including the Nasdaq, the NYSE Arca, and the Chicago Board Options Exchange. All spot Ether ETFs except the Grayscale Ethereum Trust will offer a base fee between 0.15% and 0.25%.
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3️⃣ Mt Gox Moves $2.8 Billion Worth Of Bitcoin To New Address: Arkham ▶️
According to data from Arkham Intelligence, a wallet address belonging to Mt Gox sent about 42,587.49 BTC ($2.82 billion) to a new address on Tuesday. The movement appears to be part of Mt Gox’s ongoing repayment of BTC worth $9 billion to creditors. The wallet also moved 5,110.16 BTC to its cold storage address ending with “1Jbez” and 2,238.87 BTC (worth $150 million) to Bitstamp. The Bitstamp transfer is likely a sign that the exchange’s distribution of BTC repayments is imminent.
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4️⃣ Kamala Harris Urged by Lobbying Group to Support Crypto and 'Change Perception’ 🔍
The Digital Chamber, a digital asset trade association, has reportedly penned an open letter to the United States Vice President Kamala Harris on July 22 advocating for a more crypto-friendly stance and industry engagement from the potential Democrat nominee, following President Joe Biden’s decision not to seek reelection.
The letter recommends that Vice President Harris foster “open dialogue” with key crypto industry leaders, as well as include pro-crypto language in the Democratic Party’s platform. It also advises Harris to select a pro-crypto running mate in an attempt to repair her party’s rocky relationship with digital asset holders and companies.
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5️⃣ Swan To Cancel Public Listing And Shutter Bitcoin Mining Unit Following Layoffs 💸
California-based, bitcoin-only investment platform Swan Bitcoin is reportedly rolling back its mining business revealed earlier this year. CEO Cory Klippsten also announced the company would be scrapping its plans for an initial public offering “in the near future” following the shutdown of its mining operations. The company revealed that it laid off several employees “across many functions.” Klippsten said he would attempt to assist those downsized employees with new jobs. He also clarified that the company will still offer BTC financial services and free bitcoin education.
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6️⃣ India Keeps Controversial Crypto Tax Rules Unchanged, Finance Minister's Budget Speech 🕯
India's Finance Minister Nirmala Sitharaman introduced the full budget for 2024-2025 yesterday. However, the budget failed to mention cryptocurrencies, leaving the existing tax regulations unchanged. Notably, the primary demand from local crypto advocates was to reduce the controversial tax-deducted-at-source (TDS) policy on crypto transactions from 1% to 0.01%. Instead, the government increased the long-term capital gains tax from 10% to 12.5% and short-term capital gains taxes from 15% to 20%. Whether this will have any impact on crypto trading is unclear.
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🔔 MARKET MOVING NEWS! (22/07/24)
1️⃣ Joe Biden Drops Out Of United States Presidential Race
In a July 21 statement, United States President Joe Biden announced that he was officially ending his re-election bid just four months before election day. While he didn’t cite his reasons for bowing out, he claimed it was in the “best interest of my party and my country.” His absence leaves the Democratic Party without a nominee for the 2024 US presidential election. While no replacement has been officially confirmed many speculate that Vice President Kamala Harris will be the most likely chosen to replace Biden.
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2️⃣ Kamala Harris Meme Coin Soars to All-Time High After Joe Biden Drops Out 🕯
KAMA, a memecoin inspired by U.S. Vice President Kamala Harris, hit an all-time high of 2.4 cents in the minutes following President Joe Biden's announcement that he was dropping his re-election campaign. Meanwhile, BODEN fell by nearly 50% following Biden's announcement. According to bets made on the prediction market Polymarket, Vice President Kamala Harris is now the leading contender for becoming the new Democratic Party nominee for the 2024 race.
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3️⃣ Metaplanet Completes Bitcoin Buying Goal With Another $1.2M Purchase 💸
Japanese investment and consulting firm Metaplanet has reportedly completed its plan to purchase 1 billion yen worth of BTC which it announced in June. At the time, the firm said it would issue 1 billion yen (about $6.26 million) worth of bonds to raise money to buy Bitcoin. The firm’s latest purchase was 20.38 BTC worth about $1.2 million (200 million yen). In total the company was able to purchase 104.91 BTC, paying an average price of 9,531,162 (about $60,700) yen per Bitcoin. This puts the company’s total Bitcoin holdings at 245.99 BTC, worth $16.5 million at current market prices. The consulting firm said its basic policy is to “hold Bitcoin for the long term.”
Source
4️⃣ Bitcoin Price Hits $68,000 After China Unexpectedly Cuts Interest Rates 📈
The price of BTC briefly touched $68,000 early Monday morning. The spike comes after the People's Bank of China (PBOC) surprised markets with an unexpected cut to its short-term policy and benchmark lending rates on Monday. Notably, the announcement arrived as investors were looking ahead to the U.S. Federal Reserve's next Federal Open Market Committee meeting, which is scheduled for July 31. According to the CME FedWatch Tool, roughly 95% of investors are now sure the FOMC will leave interest rates as they are in nine days time.
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5️⃣ Two Animoca Brands Subsidiaries Partner With TON Foundation 🤝
Two Animoca subsidiaries – Mocaverse and MOCA Foundation have reportedly partnered with the TON Foundation to incorporate identity and reputation networks into Moca Network and TON blockchain ecosystems. As part of the strategic partnership, MOCA Foundation and TON Foundation have entered a token-swap agreement between MOCA and TON to encourage bolstered user activity between the two ecosystems.
TON Foundation Council President Steve Yun stated,
TON’s vision of freedom of interaction aligns strategically with Animoca Brands’ focus on digital property rights. This partnership validates that TON has become the platform of choice for games and social apps. The reputation system we co-create will become a powerful opt-in platform through which users can express their identity and values on-chain.
🔔 MARKET MOVING NEWS! (21/07/24)
1️⃣ Fractal ID Data Breach Traced To 2022 Hack Of Employee Who Reused Password ❌
Decentralised identity startup and KYC verification provider Fractal ID has published a postmortem outlining the data breach that the company suffered on July 14. According to the report, the breach has been traced back to a 2022 incident where an employee reused a compromised password. The employee reportedly had administrator-level access to the system. This allowed the hacker to "sidestep" internal data privacy systems before an automated system notified an engineer and allowed them to shut out the attacker 29 minutes after the attack began.
The Berlin-based Fractal ID provides compliance assistance for at least eight crypto protocols including Polygon, Ripple and Near and counts over 250 companies among its clientele. The company said the data breach "may include names, email addresses or phone numbers, wallet addresses, physical addresses, images and pictures of any uploaded documents" of about 6,300 users, or .5% of the users in Fractal ID's database.
Source
2️⃣ TSMC Becomes First Asian Company To Reach $1T As AI Demand Surges 📈
Yesterday, Taiwan Semiconductor Manufacturing Company Limited (TSMC) became the first Asian firm to reach a market capitalisation of more than a trillion dollars. It briefly surpassed Berkshire Hathaway to become the eighth most valuable company in the world. TSMC is the world’s largest semiconductor manufacturer. Its top customers include Apple, AMD, Intel, Nvidia, Intel, and Qualcomm.
Source
3️⃣ Arkham Transfers $487M ARKMs To Coinbase Prime For Tax Compliance 🔍
On-chain intelligence firm Arkham has reportedly withdrawn 304.5 million ARKMs (worth $487.24 million) from its vesting contract and transferred them to Coinbase Prime custody. According to the firm, the team’s tokens were transferred to Coinbase Prime to ensure proper tax payments and regulatory compliance. The transaction also reportedly includes 115.8 million ARKM tokens (worth $185.28 million) owned by Arkham CEO Miguel Morel.
Source
4️⃣ Chainalysis Unveils Operation Spincaster To Fight $2.7B In Crypto Fraud ⚡️
Blockchain data firm Chainalysis has announced the launch of ‘Operation Spincaster’ - an international effort created to fight “approval phishing” scams which have defrauded victims of $2.7 billion in crypto since May 2021. Notably, Operation Spincaster is a global extension of ‘Operation Disruption’ - an operational sprint Chainalysis conducted with the Calgary Police Service back in March. Operation Disruption brought several Canadian law enforcement agencies and crypto businesses together to address crypto-related crime. Since its evolution into ‘Operation Spincaster,’ the program identified thousands of compromised wallets and became a series of operational sprints across six countries — US, UK, Canada, Spain, Netherlands and Australia — with more than 100 attendees, including 12 public sector agencies and 17 crypto exchanges.
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🔔 MARKET MOVING NEWS! (20/07/24)
1️⃣ Five Spot Ethereum ETFs, Including Fidelity, Will Launch On July 23, Exchange Cboe Says In Notices ▶️
According to recent notices posted by exchange Cboe, five spot Ethereum exchange-traded funds (ETFs) will begin trading on July 23. Specifically, the five ETFs are the Fidelity Ethereum Fund, the Franklin Ethereum ETF, the Invesco Galaxy Ethereum ETF, the VanEck Ethereum ETF and the 21Shares Core Ethereum ETF. The notices are procedural ahead of product launches.
Source
2️⃣ WazirX Launches Bounty Program To Recover Stolen Assets ❓
Indian crypto exchange WazirX, which recently faced a significant cyberattack, has announced the launch of a bounty program to freeze and recover stolen assets. This program is part of their strategy to enhance their efforts in tracing the stolen funds. The exchange has reportedly taken several immediate actions in response to the cyberattack, including filing a police complaint and reporting the incident to the Financial Intelligence Unit (FIU) and CERT-In. WazirX’s co-founder Nischal Shetty also made a separate post stating that the exchange is reaching out to over 500 exchanges to block the identified addresses associated with the stolen funds.
Source
3️⃣ Liminal Blames Compromised WazirX Devices For Hack, Claims UI Not Responsible 🔍
MPC wallet provider Liminal has reportedly released a post-mortem report on the July 18 WazirX hack, claiming that its user interface was not responsible for the attack. According to the report, the hack occurred because three WazirX devices were compromised.
The report reads,
There is no breach in Liminal’s infrastructure, wallets and assets. Unfortunately three of the victims machines have been found injecting malicious payloads into the transaction indicating a sophisticated, well planned and targeted attack on one specific Gnosis Smart Contract Multi-Sig wallet.
I’ve decided to step aside from my operating CEO role at Messari and transition to the role of Senior Advisor. This was a decision I did not take lightly and one I was very close to making last month, as I considered the problems I was most passionate about tackling in society at large.
🔔 MARKET MOVING NEWS! (28/07/24)
1️⃣ ‘Never Sell Your Bitcoin’: Trump Vows to Establish 'Strategic BTC Stockpile’ 🔍
At the Bitcoin 2024 conference in Nashville on Saturday, former U.S. President Donald Trump promised to build a “strategic Bitcoin stockpile” for the United States. He also promised to fire SEC Chair Gary Gensler and reiterated promises he had made in the past to commute Silk Road founder Ross Ulbricht's sentence and stop the U.S. government from further developing a Central Bank Digital Currency (CBDC).
He stated,
As the final part of my plan today, I am announcing that if I am elected, it will be the policy of my administration, the United States of America, to keep 100% of all the Bitcoin the U.S. government currently holds or acquires into the future […] This will serve in effect as the core of the strategic national bitcoin stockpile...It's been taken away from you.
Bitcoin is a great store of value. Over the last four years or so it has increased about 55% per year. During the same period, the U.S. dollar has declined in value and we’ve seen increasing inflation. So it would be of value, in my opinion, to have a hard asset that backs the U.S. dollar and that grows in value instead of declines in value.
My view is Bitcoin, like gold, should be free to trade everywhere in the world and as the largest wholesaler in the world we are going to do everything in our power to make it so. Bitcoin should trade the same as gold everywhere in the world without exception and without limitation.
🚨 New Video Alert!! 🚨
Donald Trump is scoring goal after goal with crypto-minded voters in the United States. His days of bashing bitcoin are history, and it seems like every day now he’s throwing us another rhetorical bone.
This begs the question: what exactly would another four years of President Trump mean for the crypto markets? Could he make our wildest dreams come true? Or would the serenade stop once he’s in office?
Join us as we investigate Donald Trump’s record on crypto, and what crypto policy could look like under a second Trump administration.
🔥 Rally Report 🔥
JUPITER
The price of JUP has rallied by 13% in the past 24 hours.
WHY?!
📈 The rally comes after the project’s co-founder tweeted that the upcoming week is important for the project. The project is expected to see major development activity, voting, and discussions over the week, including a vote to reduce the supply of the JUP token on Wednesday.
☄️ The project also unveiled a new user interface for its trading platform yesterday. The interface allows users to swap, set up DCA/VA or Limit Orders, while interacting with a price chart or viewing their trade history.
If you want to buy or trade JUP, we have an exclusive $100K Airdrop Bonus Promo on Blofin as well as 70% fee discount!
🔗 https://www.coinbureau.com/deals/trading/blofin-cb/
Looking for a Blofin guide?! 👇
🔍 https://www.coinbureau.com/review/blofin-review/
🔥 Rally Report 🔥
AAVE
The price of AAVE has rallied by 15% in the past 24 hours.
WHY?!
🕯 The rally comes after March Zeller (founder of Aave Chan Initiative) posted a ‘temperature check’ governance proposal for the potential introduction of a fee switch and token buy-back program.
⚡️ The proposal comes as Aave explores new safety modules that are more cost-efficient.
If you want to buy or trade AAVE, we have an exclusive $100K Airdrop Bonus Promo on Blofin as well as 70% fee discount!
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🚨 New Video Alert!! 🚨
How are we into the second half of 2024 already? Time sure does fly when you’re having fun. To say that the last 6 months have been eventful would be an understatement. We’ve seen ETF approvals, an All-time high for BTC, memecoins of various animals wif hats going parabolic, and much more besides.
In fact, it’s been that wild that sometimes, it’s been hard to keep up. No matter though, because the folks over at CoinMarketCap have us covered. They’ve thrown together a report for the first half of this year, offering their unique insights as being one of the leading crypto tracking platforms out there.
That’s why today, we’ll be breaking down this report, giving you all the best bits, and tell you what this could all mean for the market.
🔔 MARKET MOVING NEWS! (25/07/24)
1️⃣ Mt. Gox Creditors To Start Receiving Bitcoin And Bitcoin Cash From Bitstamp On July 25 🔍
Crypto exchange Bitstamp has reportedly started the process of returning digital assets to Mt. Gox creditors. Notably, the exchange had received a large transfer of bitcoin, bitcoin cash, and Ethereum from the Mt.Gox trustees a day earlier. Approximately 20,000 former users of Mt. Gox are set to receive over $9 billion worth of bitcoin, bitcoin cash, and Ethereum as part of the restitution process. Bitstamp also alerted some creditors that the transfers could take up to "one week." It added that customers in the UK "will not be included in the first tranche of distributions," but should expect to receive their funds "within the next few months."
Source
2️⃣ Stablecoins Signal Crypto Ecosystem Buoyancy as Market Cap Jumps to $164B 🔼
Stablecoins are reportedly experiencing a surge in growth after months of stagnation. According to data from DeFiLlama, the aggregate market capitalisation of the stablecoin sector has jumped to over $164 billion for the first time since the collapse of Terra in May 2022. Until now, it had been staying stagnant around the $160 billion mark. Notably, many interpret this renewed capital influx into the crypto market as a sign of “growing investor optimism, underpinning a bullish outlook."
Wintermute said in a note shared with CoinDesk,
The increase in stablecoin supply indicates that money is being deposited into on-chain ecosystems to generate economic activity, either through direct on-chain purchases that can catalyse price appreciation or yield-generation strategies that could improve [market] liquidity. This activity ultimately fosters positive on-chain growth.
From 24 July 2024, HSBC will block payments from bank accounts and credit cards that we reasonably believe are being made to cryptocurrency exchanges, for your protection […] If you wish to make payments to cryptocurrency exchanges, you’ll need to make alternative arrangements.
🚨 New Video Alert!! 🚨
Do politicians need us?
Because at the moment, they’re sending very mixed messages. Donald Trump is desperate to prove his crypto credentials, while the Democratic party is split between the Gensler-Warren-Biden crypto opp axis and powerful rebels like Nancy Pelosi and Chuck Schumer. The result is an open goal left for Republicans, and they are shooting their shot.
But just how big is this goal anyway?
Do presidential candidates need to appeal to crypto-minded voters now?
Or is the ‘The Crypto Vote’ still a hopium-fuelled myth?
Tune in to today’s video to find out, as we investigate voter attitudes and the influence of Big Crypto in the 2024 US presidential election.
🔥 Rally Report 🔥
CAT IN A DOGS WORLD
The price of MEW has rallied by 18% in the past 24 hours.
WHY?!
📈 Part of a larger rally seen among Solana meme coins, especially cat-themed meme coins.
🐈⬛ Interestingly, the rally coincides with a recent X post that saw cat-themed memecoin developers declaring the current period of time as the “global cat season.” The post noted how leading fashion and cultural brands such as Skims, Gucci, Goyard, Givenchy, Vogue, TIME, LVMH, and Bottega have highlighted cats in their 2024 campaigns.
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🚨 New Video Alert!! 🚨
The moment is upon us...
The Ethereum ETFs are about to launch and everyone is wondering what potential inflows we could see. Some seem to think that it could be a massive "sell the news" event that sends it lower. While others believe that it could kick off a massive ETH rally.
In our video today, we break down all the estimates that are out there for the inflows from a number of sources. We analyse the potential price impact and where we could see ETH going in the coming months.
This is a video you can't miss!
🔥 Rally Report 🔥
STARKNET
The price of STRK has rallied by 7% in the past 24 hours.
WHY?!
📆 Starknet has officially confirmed the dates for the testnet and mainnet launch of its upcoming Starknet v0.13.2 upgrade. Testnet launch is scheduled for August 5th and mainnet launch is scheduled for August 26th.
⚡️ Starknet v0.13.2 is expected to introduce parallel execution, and much faster confirmation and block times.
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🚨 New Video Alert!! 🚨
It’s time for another weekly crypto review. Last week’s price action seems to have been driven primarily by the spot Bitcoin ETF investors buying the dip and short traders getting squeezed.
It seems that this week’s price action will be defined by the spot Ethereum ETFs which are expected to list tomorrow. Trump’s crypto antics could also serve as a tailwind to BTC, ETH, and altcoins.
Last but not least, the Fed seems to be raising its voice about how it’s going to lower interest rates. While rate cuts have historically been bearish for stocks, they could be very bullish for crypto.
All that and more in today’s video!
🔥 Rally Report 🔥
CAT IN A DOGS WORLD
The price of MEW has rallied by 45% in the past 24 hours.
WHY?!
📈 Part of a larger rally seen among Solana meme coins, especially cat-themed meme coins.
🐱 Notably, this recent shift from dog-themed to cat-themed memecoins appears to be led by the success of MOG on Ethereum.
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🚨 New Video Alert!! 🚨
If you’re a fan of macro, you’ve probably been keeping up with the headlines about the prospect of a BRICS currency. If that’s the case, you probably heard about the US-Saudi oil deal expiring recently.
Well, it turns out that this was fake news – the petrodollar isn’t at risk, at least not from a 50-year-old deal. However, it certainly is at risk because of a new payment system that was launched by the BRICS.
Believe it or not, but just a few days before the supposed Saudi-oil deal was set to expire, a brand new BIRCS focused payment system was launched, with Saudi Arabia coming on board.
This is a video you cannot miss!
🔥 Rally Report 🔥
CORE
The price of CORE has rallied by 9% in the past 24 hours.
WHY?!
💸 The 2024 Bitcoin Conference is scheduled to happen on July 27th in Nashville. CORE’s rally could be due to speculation surrounding a pump in the price of BTCFi tokens ahead of the conference.
📈 The TVL on CORE has also seen a massive rise this month. As of today, the TVL on CORE has hit a new all-time high, standing at nearly $150 million.
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🔥 Rally Report 🔥
SEI NETWORK
The price of SEI has rallied by 16% in the past 24 hours.
WHY?!
📈 The TVL on SEI has been hitting new all-time highs over the past few weeks. Notably, TVL on the Sei network is currently at $98 million, just $2 million away from achieving the $100 million mark.
⚡️ Most of the influx in assets and subsequent rise in TVL seems to be led by Yei Finance – a fork of Aave and also Sei’s first borrowing and lending protocol. It currently features SEI, USDT, and USDC for borrowing and lending.
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