Krakenโs $3 Billion Bitcoin Distribution to Mt. Gox Creditors ๐
Kraken has started distributing Bitcoin (BTC) and Bitcoin Cash (BCH) to Mt. Gox creditors, ending a decade-long wait for many. Over $3 billion in Bitcoin is being paid out, with numerous users reporting receiving their funds.
Bitcoin (BTC) Stays Strong ๐ช Despite concerns, Bitcoin's price has remained stable, trading at $65,804.18. This stability suggests that the market had already anticipated the impact, demonstrating the resilience and maturity of the cryptocurrency ecosystem.
Bitcoin Cash (BCH) Takes a Hit ๐ Conversely, Bitcoin Cash has dropped significantly, losing over 7% in the past 24 hours. This highlights the liquidity challenges faced by BCH during large distributions.
These repayments mark a significant milestone, providing closure to Mt. Gox creditors and showcasing the evolution of the crypto industry.
Spot Ethereum ETFs Shatter Records with $1 Billion Trading Volume ๐ฅ
Ethereum's Explosive Debut ๐ Ethereumโs new spot ETFs stormed the market, hitting over $1 billion in trading volume on the first day! ๐ This echoes Bitcoinโs ETF debut earlier this year.
In just 15 minutes, trading volume reached $120 million. Despite this, ETH's price remains stable at $3,478.30, up only 1%.
Whatโs Next for Ethereum? ๐ฎ Analysts predict a potential price surge in August, if Ethereum follows Bitcoin's pattern. ETH needs to break the $3,730 resistance for a significant price boom.
Increased market volatility is expected, with traders anticipating potential price swings.
ETH investors, stay tuned โ the future looks bright! ๐ #Ethereum #ETFs #CryptoNews #CryptoTrading #Blockchain
Mt. Gox Bitcoin Transfers: Small Moves Signal Big Changes ๐ธ
Mt. Gox, the defunct crypto exchange, has moved small amounts of Bitcoin (BTC) to Bitstamp. These tiny transfersโ0.02 BTC eachโare likely test runs for a bigger payout. ๐
Test Transactions Before the Big Distribution Early today, Mt. Gox sent 0.02 BTC to eight different Bitstamp addresses. These transfers, worth about $1,400 each, are likely a warm-up for larger transactions.
The trustee handling Mt. Gox's liquidation still holds $6.08 billion in BTC. These tests hint at the final repayment phase, a move that could shake up the Bitcoin market. ๐
Market Impact and Distribution Strategy With 90,000 BTC left to distribute, market watchers are on high alert. The final payouts are expected to influence BTC prices significantly. Exchanges like Kraken and Bitbank are set to help in distributing these funds within the next 90 days. ๐
Stay tuned! This long-awaited resolution could bring both short-term volatility and long-term stability to the crypto market. ๐
๐ BlackRockโs Bitcoin ETF Hits $527 Million Inflows!
BlackRockโs Bitcoin ETF (IBIT) just attracted a jaw-dropping $526.7 million in one day, pushing its market cap beyond $22 billion! ๐ This ETF is now outperforming Nasdaq ETF inflows, making waves in the crypto market.
Bitcoin ETFs on the Rise ๐ Bitcoin ETFs have seen inflows for twelve consecutive days, with total inflows for U.S. Bitcoin ETFs reaching $2 billion in just two weeks. Investors are showing strong confidence in these funds.
Eric Balchunas of Bloomberg highlights that these inflows are driven by growing demand, not just Bitcoin's price. The trend shows that more investors are seeing Bitcoin ETFs as a secure and regulated investment option. ๐ผโจ
A New Chapter for Ether The SEC has approved seven spot Ether ETFs, set to start trading on July 23, 2023. This move is a significant milestone, bringing more legitimacy and accessibility to Ethereum (ETH).
Big names like 21Shares, Bitwise, and Fidelity are in the mix, signaling strong market confidence.
Market Excitement and Potential Analysts predict these ETFs could see inflows similar to spot Bitcoin ETFs, potentially boosting ETH's liquidity and stability.
James Seyffart from Bloomberg expects a 20-25% inflow, while Matt Hougan of Bitwise forecasts up to $15 billion in assets, possibly pushing ETH prices above $5,000. However, unresolved legal questions on Ether staking remain a concern.
Small Transactions, Big Implications The infamous Mt. Gox exchange has stirred the crypto world by signaling possible Bitcoin sales. A recent minor transaction of 0.021 BTC suggests a significant move of its $6 billion Bitcoin stack might be coming.
Historically, such small transfers precede larger fund movements, potentially indicating plans to finally repay creditors. Mt. Gox, which collapsed in 2014, holds 90,344 BTC.
Market Stability Amid Potential Sales Despite this, Bitcoin remains stable at around $67,000. The market has shown resilience in the past to similar large fund movements.
The strategic approach of gradual transfers helps maintain stability, preventing market crashes. This vigilance and Bitcoinโs inherent resilience are key to maintaining this stability.
Shiba Inu (SHIB) Transactions Drop to 1.4 Trillion ๐
๐ Impact of WazirX Hack The Shiba Inu (SHIB) network saw a massive 50 trillion SHIB transaction linked to the WazirX hack. This caused concerns about a potential price crash.
However, market maker Wintermute intervened to stabilize the situation, preventing a severe downturn.
๐ฅ Market Reaction and Stability Following the hack, SHIB transaction volume plummeted to 1.4 trillion. Despite fears, SHIB maintained support levels around $0.00001778, showcasing strong market resilience.
This stability indicates that SHIB can withstand substantial market pressures.
SHIB's ability to hold its support levels is a positive sign for investors, pointing to a robust market structure even after a major disruption.
The SEC abruptly canceled a closed-door meeting with Ripple Labs, sparking panic among XRP holders and causing the tokenโs value to drop.
XRP Holders Flock to RCO Finance ๐โโ๏ธ๐จ In response, many investors are turning to RCO Finance. This emerging project promises high returns and a user-friendly, automated trading platform.
RCO Finance breaks down investment barriers with its Robo Advisor, a tool that personalizes financial advice and automates trading, making it accessible to everyone.
Secure, Simple, Profitable ๐ฐ๐ No need for complex KYC processes. RCO Finance prioritizes security with frequent audits by SolidProof and offers DeFi and debit card integration for easy profit spending.
With tokens priced attractively during the presale, nowโs a great time to join. Use promo code โRCOF40โ for a 40% discount and a chance to win $100,000!
Internal Move Explained In a jaw-dropping internal transfer, Robinhood moved 2.7 trillion Shiba Inu tokensโworth $48.3Mโbetween its wallets.
Initially flagged as a transfer to an unknown address by Whale Alert, Etherscan data later confirmed it was an internal shuffle.
The move puts Robinhoodโs cold wallet holdings at 36.6 trillion SHIB ($652.7M), making it the second-largest holder, just behind Binance.
Shiba Inuโs Market Recovery Shiba Inu (SHIB) is eyeing a recovery from its recent downturn, trading at $0.00001780. Breaking the $0.00002101 resistance level could signal a bullish trend, with potential gains up to $0.00002579.
With Robinhoodโs strategic SHIB management and significant holdings, all eyes are on SHIBโs next move!
๐ CBOE to Launch Five Spot Ether ETFs on July 23 ๐๏ธ
The Chicago Board Options Exchange (CBOE) has set the launch date for five Spot Ether ETFs to July 23. These include the 21Shares Core Ethereum ETF, Fidelity Ethereum Fund, Invesco Galaxy Ethereum ETF, VanEck Ethereum ETF, and Franklin Ethereum ETF.
SEC Approval Pending While the SEC hasn't given final approval yet, optimism is high. The previous Bitcoin ETF launch set the stage, and analysts predict Ether (ETH) might outperform Bitcoin (BTC) post-launch.
Ether's price is already surging in anticipation, currently trading at $3,504 with an 11% rise over the past week.
Ethereum is on fire! ๐ฅ Its price has surged 11%, hitting $3,500 as spot Ethereum ETFs get ready to launch.
๐ Big names like Fidelity, Franklin Templeton, and Invesco are leading the charge, with competitive fees ranging from 0.19% to 0.25%. ๐ Grayscaleโs fee is a bit higher at 2.5%.
๐ Whatโs Driving the Surge? Anticipation for these ETFs is driving the excitement. ๐ Launches are set for July 23 on the CBOE. SEC approval could mean a major boost for Ethereum and the entire crypto market. ๐
Get ready for a potential new era of growth and adoption! ๐๐
WazirX Breach: 5.4 Trillion SHIB Stolen Hackers have hit Indiaโs top crypto exchange, WazirX, stealing 5.4 trillion Shiba Inu (SHIB) and other assets worth $230M. The Heist Unveiled
๐ Lookonchain spotted the breach, tracing the stolen funds to wallet 0x04bโฆ91a88.
๐ The stolen assets include: 5.4T SHIB ($102.1M)15,298 ETH20.5M MATIC240.27B PEPE5.79M USDT135.11M GALA The Aftermath
๐ธ Hackers have already sold $152.24M of the loot, with $77.73M still in the unknown wallet.
๐ฅ SHIB price dropped 9% within 24 hours, impacting the entire crypto market.
Rippleโs $1.4B Buyback: A Crypto Game-Changer ๐
Ripple just initiated a massive $1.4 billion share buyback, purchasing shares at $62 each. This bold move signals strong financial confidence and optimism for XRPโs future. Despite ongoing SEC challenges, bullish sentiment for XRP remains high. ๐
Why It Matters: Market Confidence: Rippleโs buyback is a powerful sign of financial health and a vote of confidence in its long-term strategy. Investors are likely to take this as a bullish signal,
possibly boosting XRP prices. Strategic Moves Ahead: Speculations are rife about Rippleโs next steps, possibly including launching a stablecoin or an IPO. The SEC case resolution could be a game-changer.
Ripple's bold buyback could inspire similar strategies across the crypto market, impacting investor sentiment and market dynamics. Stay tuned! ๐
Supporting Pro-XRP Lawyer John Deaton The Winklevoss twins, famous for Gemini, made waves with a $1M Bitcoin donation to John Deatonโs Senate campaign. They aim to challenge Senator Elizabeth Warren's anti-crypto stance.
Tyler Winklevoss criticized Warren on X, calling her "public enemy number one" for the crypto community. He accused her of leading aggressive regulatory measures since the 2020 presidential campaign.
Why Deaton? John Deaton, a pro-crypto advocate with legal and military credentials, champions innovation and economic growth. The twins believe he can shift the Senate's stance on crypto regulation.
๐ Dogecoin (DOGE) Soars Past 90 Million Wallets!
Dogecoin, the iconic meme coin, has hit a massive milestone with over 90 million wallet addresses! This surge shows the growing interest and adoption of DOGE, coinciding with a general crypto market recovery.
๐ Price Surge & Market Optimism DOGE has seen a 15% price boost over the past week, signaling renewed investor optimism. Analysts are predicting significant future price surges, with some seeing DOGE reaching $1-$2.
Influential voices like Kaleo and Javon Marks highlight a potential "supercycle of meme coins," emphasizing DOGE's growing role in the altcoin boom.
With its increasing adoption and market presence, Dogecoin continues to capture the crypto community's attention. ๐
Whale Moves ๐ Ethereum (ETH) is catching big eyes! Major investors, known as "whales," snapped up $126 million worth of ETH this week. This massive buying spree signals strong bullish vibes. ๐๐ฐ
ETF Excitement ๐ The SEC just gave the green light for two spot Ethereum ETFs on NYSE Arca Inc. This move is set to attract huge institutional investments, potentially driving ETH prices even higher. ๐๐
Despite a slight dip today, Ethereum's overall outlook is bright with whales and ETFs boosting market confidence. ๐
Recent Surge ๐ BONK, the popular Solana meme coin, surged 12% to hit $0.000026, with trading volume skyrocketing 67% to $522 million in 24 hours. Derivative trading and Open Interest also saw significant increases.
Mixed Market Sentiments ๐ While spot markets show bullish trends, futures traders remain cautious, indicated by negative funding rates. BONK's future depends on balancing rising trading interest with potential selling pressures.
Ethereum's Recovery ๐ After a shaky start to July, Ethereum has bounced back above the $3,000 mark. ๐ This follows a period of fluctuations, with ETH experiencing a 20% drop since June.
On July 8th, Ethereum began its recovery and now trades at around $3,083.
Market Sentiment ๐ Despite the rise, the RSI shows market sentiment is still recovering. Increased trading volumes and mixed trader sentiments suggest cautious optimism.
ETH's journey back above $3K marks a significant milestone, indicating strong market interest.
Massive Inflows Despite Market Dip Bitcoin ETFs received a staggering $438 million in just two days! ๐ Even though Bitcoin has dipped 20% since June, investors are seizing the opportunity, betting on a rally.
Supply Concerns ๐ The dip follows sales from Mt. Gox and German police, adding supply pressure. Despite these factors, Bitcoin hit an intraday high above $58k on Tuesday. Investors are optimistic, viewing this as a buying opportunity.
Heavy investments show strong faith in Bitcoin's long-term prospects. ๐
Australiaโs Second Bitcoin ETF ๐ฆ DigitalX Ltd is set to launch its spot Bitcoin ETF, BTXX, on the Australian Securities Exchange (ASX) on July 12. This marks Australiaโs second spot in Bitcoin ETF after VanEck's VBTC.
Direct Access to Bitcoin ๐ผ BTXX offers direct exposure to Bitcoin through partnerships with 3iQ and K2 Asset Management. DigitalX CEO Lisa Wade calls this a groundbreaking achievement, providing a secure, regulated way for institutional investors to access Bitcoin. The ETF goes live at 10:00 AM AEST.
This launch signals the growing acceptance of digital assets in traditional markets.