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💲 Global liquidity rose to $174.67 trillion, a new all-time high
The figure has grown by $1.13 trillion in the past week alone
💡Global liquidity is the total amount of money circulating in the global financial system, including cash, bank deposits, money market mutual funds, and other assets close to money.
🤝 @Cryptocurrency_Inside ✅
💰 Metaplanet bolsters Bitcoin holdings with additional 57 BTC
Tokyo-listed Metaplanet said it increased its Bitcoin holdings with the additional purchase of 57.273 BTC for ¥500 million (around $3.4 million), according to an Aug. 20 statement. The Bitcoin investment firm stated that the latest purchase completes its Aug. 8 announcement to acquire ¥1 billion worth of the flagship digital asset through a loan sourced from MMXX Ventures Limited.
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🪙 Tether expands USDT stablecoin to Aptos blockchain
Stablecoin issuer Tether is launching its main USDT stablecoin on the Aptos blockchain. The integration will allow those using the Aptos blockchain to natively transact with the USDT stablecoin at a lower cost than more expensive networks like Ethereum. "This collaboration underscores our ongoing efforts to lead with innovation and support our users with stable, reliable financial tools," said Tether CEO Paolo Ardoino in a statement.
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💰 Bitfarms boosts production by 33%, increases Bitcoin holdings above 1,000 BTC
Bitfarms said its Bitcoin production and holdings increased last month despite the rising mining difficulty, according to an Aug. 31 statement. The crypto miner revealed a 33.8% rise in Bitcoin production for July, attributed to a higher hashrate. Bitfarms mined 254 BTC in July, up from 189 BTC in the previous month. The firm also grew its hashrate to 11.1 EH/s by the end of July from 10.4 EH/s.
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🇺🇸 Sen. Lummis draft bill allows US states to hold 💰 bitcoin
Sen. Cynthia Lummis' bill lays out a pathway for the U.S. to hold bitcoin and gives states the option to do so as well, according to a draft copy obtained by The Block. The bill is called the “Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide Act of 2024” or shorthand, the "BITCOIN Act of 2024," according to a draft version.
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🇺🇸 Spot ETF Inflows to Have Weaker Effect on Ether Than Bitcoin – CryptoQuant
The first wave of spot Ethereum exchange-traded funds (ETFs) in the United States debuted on July 23, with inflows running above $100 million. While the positive flows signal a strong start for the funds, ether (ETH) may not witness the parabolic uptrend bitcoin (BTC) saw after asset managers launched its ETFs earlier this year.
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🇺🇸 Donald Trump says, “Tomorrow I’m going to be with the #Bitcoin people” for his plans to attend the conference today
🤝 @Cryptocurrency_Inside ✅
📊 Hashdex files S1 for an ETF that holds bitcoin and ether, leaves door open for other assets
Crypto asset management firm Hashdex took the next move in its plan to launch an exchange-traded fund that directly owns spot bitcoin and ether, establishing what could be the first index-based crypto ETF in the United States. Hashdex filed its registration statement, also called an S-1, with the U.S. Securities and Exchange Commission on Wednesday. The fund, called the Hashdex Nasdaq Crypto Index US ETF would own bitcoin and ether, but could later hold more assets depending on how the regulatory landscape unfolds.
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💰 BlackRock continues to eat spot Bitcoin ETF volume share
The iShares Bitcoin Trust (ticker IBIT) has roared to a new all-time high, capturing an impressive 67% of the spot Bitcoin ETF volume market share. This surge surpasses its previous record of 61%, further cementing BlackRock's dominance in the crypto ETF space. Despite this record-breaking market share, IBIT's daily trading volume stood at $1.2 billion, which is only average for the fund. This suggests that while IBIT outperforms its competitors, overall market activity remains steady.
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🪙 SEC issues final approval for spot Ethereum ETFs to begin trading on July 23
The SEC officially issued its final approval for spot Ethereum ETFs on July 22 and the funds’ respective webpages are now live. The ETFs are scheduled to begin trading as US markets open at 09:30 Eastern Time on July 23. The approval confirms rumors from last week and opens up Ethereum to investors seeking regulated exposure. Market experts believe these funds will attract a significant amount of money from investors who have been hesitant to invest in crypto due to regulatory concerns.
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🪙 Ether price may dip after ETF 'novelty' wears off due to surging supply
Ethereum’s price might decline after the initial buzz surrounding spot Ethereum exchange-traded funds (ETF) wears off if its supply continues to increase at the current rate, according to an analyst. “If the supply of ETH keeps increasing by ~60k/month like it has been since April, then by Dec the supply will be back to what it was at the merge,” crypto trader and Into The Cryptoverse founder Benjamin Cowen wrote in a July 19 X post, referring to when the much-anticipated Merge transitioned Ethereum.
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⬜️ OKX ceasing all services in Nigeria by end of August
Global cryptocurrency exchange OKX is winding down services in Nigeria as of Aug. 30, a company spokesperson told The Block in an email. "OKX is committed to adhering to the applicable rules and regulations of all jurisdictions in which we strive to offer services," an OKX spokesperson said in a statement. "Due to local laws and regulations, we notified local customers that we would no longer offer services to customers in Nigeria from August 30."
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🪙 SEC has given ‘preliminary approval’ to at least 3 ETH ETF issuers
BlackRock, Franklin Templeton, and VanEck have reportedly received preliminary approval from the US securities regulator.
🤝 @Cryptocurrency_Inside ✅
💰 Mt. Gox moves over $700 million worth of bitcoin to unknown wallet: Arkham
Mt. Gox appears to have transferred 12,000 to an unknown wallet on Tuesday night, according to blockchain analytics firm Arkham. The defunct cryptocurrency exchange sent the bitcoin worth $709.44 million to wallet address “1PuQB…nWhTb” at around 11:39 p.m. UTC on Tuesday, along with a transfer of 1264.69 BTC ($74.77 million) to address “1Jbez…LAPs6” that is identified by Arkham as a cold wallet belonging to Mt. Gox. The funds have not been further transferred to other addresses yet.
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💰 Bitwise AUM surpasses $4.5 billion, expands to Europe with ETC Group purchase
Bitwise Asset Management has announced the acquisition of ETC Group, a London-based digital asset manager known for creating Europe’s largest physical Bitcoin ETP, BTCE. This strategic move elevates Bitwise’s assets under management (AUM) to over $4.5 billion and enhances its capability to serve European investors with institutional-grade products.
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Franklin Templeton is preparing a new ETF: Bitcoin and Ethereum under one flag!
✔️Asset manager Franklin Templeton has taken a step towards launching an innovative exchange-traded fund by filing an S-1 with the SEC.
✔️The new Franklin Crypto Index ETF will combine Bitcoin and Ethereum in one product, opening up new horizons for investors.
💡Well, it's time to keep your finger on the pulse - this fund promises to be interesting!
🤝 @Cryptocurrency_Inside ✅
💰 Yahoo Finance says #Bitcoin ETF holders have 'diamond hands.' 💎✋
🤝 @Cryptocurrency_Inside ✅
🗣️ Co-founder of BitMEX, Arthur Hayes, believes that for an altcoin season to begin, Bitcoin must surpass $70,000 and Ethereum $4,000.
He also predicts that if these levels are reached, Solana could rally to $250 during the next altcoin season.
What’s your prediction for Solana’s price?
🌚 - $180
❤️ - $250
⚡️ - $350
🐳 - $500
🤝 @Cryptocurrency_Inside ✅
🪙 Tether generates a record $5.2 billion profit in first half of the year
Leading stablecoin firm Tether released its latest quarterly attestation Wednesday, reporting a record net profit of $5.2 billion for the first half of 2024. The company also reached a net operating profit of $1.3 billion in the second quarter, largely due to its yield-bearing investments and reserves, according to its press release. The attestation was conducted by BDO, a global independent accounting firm.
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💰 Solana overtakes Ethereum in weekly fee revenue for the first time
Solana surpassed Ethereum in total fees and MEV tips for the first time in a weekly timeframe since its launch. According to Blockworks Research, Solana generated approximately $25 million in revenue during the week of July 22, edging out Ethereum’s $21 million. SOL was trading at $185.8 as of press time amid the wider market downturn after hitting a high of $193.8 earlier in the day, based on CryptoSlate data.
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💰 Cantor Fitzgerald CEO announces $2B Bitcoin financing business, defends Tether at Bitcoin 2024
Cantor Fitzgerald CEO and Chairman Howard Lutnick announced on stage at Bitcoin 2024 that the global services firm plans to establish a Bitcoin financing business with $2 billion of initial financing to provide leverage to investors who hold the digital asset. "We are going to welcome Bitcoin into the financing family of the global financial markets and Cantor Fitzgerald is going to be your sponsor," Lutnick announced.
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💰 ETF issuer Jan VanEck has ‘way over 30% of his portfolio in Bitcoin’
On stage at the Bitcoin Conference 2024 today, Jan van Eck announced that way over 30% of his portfolio is in Bitcoin. Van Eck, CEO of the investment management firm VanEck, frequently compares Bitcoin to gold, viewing it as “digital gold” and a potential store of value. In an environment where global monetary stimulus erodes purchasing power, van Eck suggests that Bitcoin could outperform traditional currencies. Furthermore, he emphasizes Bitcoin’s role as an uncorrelated asset in investment portfolios, offering diversification benefits.
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💰 Kamala Harris will not be speaking at Bitcoin Conference 2024
Despite rumors circulating that the Democratic frontrunner for the US Presidential Election 2024, Kamala Harris, will be speaking at the Bitcoin Conference in Nashville this week, David Bailey has confirmed that she will not attend. David Bailey, CEO of BTC Inc. and organizer of The Bitcoin Conference, confirmed this decision comes amid ongoing discussions about the Democratic Party’s stance on Bitcoin, crypto, and blockchain technology.
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🇺🇸 ETHEREUM ETFs TO START TRADING TODAY
🤝 @Cryptocurrency_Inside ✅
🪙 DOGE open interest up 19% amid price 'breaking out' to monthly high
Traders are ramping up their positions on Dogecoin as its price "breaks out," reaching its highest monthly level on July 20. However, not all are convinced that the bullish pattern is confirmed just yet. “DOGE is breaking out and looks primed for an aggressive up move,” pseudonymous crypto trader Shelby wrote in a July 20 X post. They reiterated that Doge’s price breaking out has previously been “a catalyst” for other altcoins to follow, including Floki (FLOKI) and Shiba Inu, which have increased 37% and 3.89% respectively, according to CoinMarketCap data.
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🟠 Binance.US secures court approval to invest $40 million in US Treasury bills
A US court has granted Binance US permission to invest certain customer fiat funds, currently held at BitGo, in US Treasury Bills. Earlier this week, the exchange requested court approval to invest about $40 million in $10 million increments over four weeks. On July 19, Judge Amy Berman Jackson approved the exchange to invest its customer fiat funds, provided it maintains enough funds on its platform to meet all expected customer withdrawal requests and updates its terms of use to notify customers accordingly.
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🪙 Bitwise CIO predicts Ethereum ETF inflows will push ether prices to all-time highs above $5,000
Matt Hougan, Chief Investment Officer at crypto asset manager Bitwise, said spot Ethereum exchange-traded fund inflows could have a bigger impact on ether upon launch than the equivalent products did for bitcoin. He said he expected the first few weeks once the Ethereum ETFs go live to be “choppy” for the second largest cryptocurrency by market cap as funds potentially flow out of the $11 billion Grayscale Ethereum Trust (ETHE) after its conversion to a spot ETF.
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🇪🇺 Stripe enables Bitcoin, Ether and Solana crypto purchase options in EU: report
Financial technology company Stripe has expanded its crypto integration into the European market, enabling shoppers to buy cryptocurrencies, including Bitcoin, Ether and Solana, using a credit or debit card. The decision by Stripe, founded by Ireland-born brothers Patrick and John Collison, is part of a move to make it easier for “normal transactions” to occur using digital assets, the Irish Independent reported on Tuesday.
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