According to BlockBeats, 10x Research CEO Markus Thielen said that the spot Ethereum ETF could be approved any time now and is expected to be launched next week. VanEck CEO met with US SEC officials on Monday and has submitted its Ethereum spot ETF application 8-A form. VanEck submitted the 8-A form seven days before the Bitcoin ETF was approved. Based on this time, it is speculated that the Ethereum ETF may be approved next Tuesday, July 2. It is generally expected that the Ethereum ETF will attract about 15-20% ($14 billion) of the Bitcoin ETF's capital volume, which is expected to reach $2.8 billion, so the market is ready for this approval.
According to Wu, QCP Capital recently published a forecast that the options market may see a decline in volatility on Friday, the upcoming end-of-quarter options expiration date. At the same time, market rumors say that VanEck's Ethereum ETF trading is about to start, and if there is substantial progress in the approval process, it may surprise the market. VanEck has submitted Form 8-A and announced that the initial stage of its ETH ETF will be free of charge. In addition, ETH has shown strong support at the 3,200 and 2,800 levels, the latter of which has not been touched for more than four months.
● Analysis: Mt. Gox repayment selling panic is exaggerated
According to BlockBeats, on June 26, a trading report from investment firm Off the Chain Capital suggested that Mt. Gox creditors will receive repayments starting next week, but they may be reluctant to give up the tokens they have held for ten years. Brian Dixon, CEO of Off the Chain Capital, wrote in the report: "Once Mt. Gox is distributed, I believe the market will generally not start selling these assets immediately because I don't see many creditors selling after receiving Bitcoin, as they did when they received Bitcoin a few years ago." He added that BTC has been the best performing asset for 12 of the past 15 years.
● Cryptocurrency Fear and Greed Index drops, market sentiment remains panic
According to BlockBeats, on June 27, Alternative data showed that today's cryptocurrency panic and greed index was 40, down from yesterday's 46, and market sentiment continued to panic.
● USDT supply growth dropped significantly in June, reflecting reduced liquidity in the crypto market
According to BlockBeats, on June 26, USDT supply growth dropped significantly in June, reflecting reduced liquidity in the crypto market. A report from cryptocurrency custodian Copper shows that as of June 24, Tether (USDT) supply increased by less than 1.5% month-on-month, significantly lower than the increase in April and May (more than 5%). Fadi Aboualfa, head of research at Copper, said that as Bitcoin and Ethereum face downward pressure, liquidity flowing into the crypto market is decreasing, while altcoins remain far behind, with little hope of any significant rebound in the short term. USDT trading volume dropped from an all-time high of $767.2 billion on March 11 to $53.5 billion on June 24. With USDT market cap reaching $113 billion, the slowdown in supply growth indicates less money flowing into the crypto market. Additionally, the Bitcoin market has seen a significant increase in daily outflows recently, with more than $540 million flowing out last week. In the past 30 days, the price of Bitcoin has fallen by more than 10%, from $68,000 to $62,000.
According to Odaily Planet Daily, on-chain analyst Yu Jin monitored that Huang Licheng (machi big brother) continued to buy BLAST after BLAST went online. He has spent 1,491 ETH to buy 172 million BLAST (about 4.65 million US dollars), with an average purchase price of 0.027 US dollars, becoming the largest individual holder of BLAST. However, Huang Licheng's investment in FRIEND has suffered a serious floating loss. He currently holds 9.4 million FRIEND, costing about 1.5 US dollars, and now the price of FRIEND is only 0.57 US dollars, with a floating loss of up to 8.74 million US dollars.
According to BlockBeats, on June 26, Federal Reserve Board Governor Bowman reiterated that inflation is expected to remain high for some time and he believes that it is not appropriate to cut interest rates at this time.
● Binance CEO Richard Tang: It is recommended to explore different blockchains, protocols and projects
Binance CEO Richard Tang shared three tips on how to start your crypto journey on the X platform: 1. Understand: Spend time understanding blockchain, crypto, and other basics. 2. Research: Explore different chains, protocols, and projects. The key is DYOR (do your own research). 3. Try: Start small and use reputable platforms. Explore and constantly reevaluate your strategy.
