- Bitcoin's price has dropped below $29,000, now at $28,985.
- This represents a 1.21% decrease within a day.
- The market is showing volatility, indicating uncertain conditions.
- Investors are cautioned to be careful and prioritize risk management.
- Glassnode data reveals that the percentage of Bitcoin's supply inactive for three or more years has reached a new all-time high (ATH) at 40.355%.
- This surpasses the previous ATH of 40.352% noted on August 14, 2023.
- Valkyrie has applied for an #Ethereum futures exchange-traded fund (ETF).
- Bloomberg's senior ETF analyst, Eric Balchunas, confirmed the application.
- Previously, Valkyrie filed document 497 to modify its Bitcoin Trust Fund (BTF) to incorporate Bitcoin and Ethereum futures into the ETF.
- Bitcoin's price reached $29,000, its lowest point since August 7.
- Despite the bearish trend, Tom Lee of Fundstrat Global Advisors predicts a potential price surge to $150,000 or $180,000 if a Bitcoin ETF is approved.
- Altcoins such as DOGE, SOL, and MATIC experienced 6-7% declines in the last 24 hours.
- The market saw reduced volatility, decreased leverage, and a decrease in speculative activity.
- f(x) Protocol has outlined its airdrop rules.
- #Airdrop distribution targets #testnet users, Beta users, and token issuance participants.
- The airdrop will involve 0.5% of the overall token supply.
- Injective has implemented token economics updates, significantly increasing the weekly burn of its native token, INJ.
- All dApps operating on the Injective platform can now participate in the INJ burning auction without a cap on burning fees.
- This strengthens the INJ-backed on-chain economy by capturing value from all dApps in the Injective ecosystem.
- The updated #token burn auction collects protocol fees, converts them into aggregate value, and facilitates a weekly burning event.
- Each transactional #dApp contributes 60% of its transaction fee to the auction basket, enabling community members to compete through bidding for the weekly income.
