J.P. Thieriot, a bigwig at the crypto exchange Uphold, is throwing his weight behind Kamala Harris’s run for president. He wants to rally the crypto crowd to support Harris, making sure she gets plenty of backing and cash for her campaign. Thieriot thinks Harris is a better bet for crypto than Trump, who’s been iffy about it but still managed to snag some supporters with vague promises. Thieriot’s setting up a website and starting a crypto fundraiser for Harris. #US_Job_Market_Slowdown #kamalaHarris #PresidentialDebate #BinanceTurns7 #Crypto_Jobs🎯
🗣Solana Outperforms Ethereum in Trading Volume for the First Time
Crypto journalist WuBlockchain reported that in July 2024, the Solana ecosystem surpassed Ethereum in trading volumes on decentralized exchanges, with $55.8 billion compared to $53.8 billion. Colin Wu attributes this growth to the hype around meme tokens based on Solana, particularly ten meme coins with market capitalizations of up to $100 million, competing for investors’ attention.
🗣Polymarket: Poor Bitcoin Forecast for August 2024
Participants on Polymarket predict a decline in Bitcoin's price for August 2024: ● 48% expect it to drop below $60,000; ● with 26% betting on a fall to $55,000; ● 12% to $50,000; ● and 4% to $45,000. Historically, August and September are weak months for BTC. In June 2024, Polymarket's trading volume hit a record $111.5 million, and the platform partnered with MoonPay while raising $70 million from Founders Fund and other VCs. Analysts at Jefferies note that Bitcoin's price correlates with the outcome of the U.S. presidential election on November 4, 2024.
The USA, UK, and Canada are urging their citizens to leave Lebanon on “any available” flight. Those who choose to stay are advised to be prepared for a prolonged stay in shelters. Sweden is temporarily closing its embassy in Beirut. The situation continues to escalate: Israel has conducted an airstrike, killing another Hamas commander and 4 Islamic Jihad fighters, according to Reuters. Interesting times…
The volume of Bitcoin moved by whales from exchanges has reached a 9-year high, with 84,000 BTC added by these large holders in July alone, despite ongoing market volatility based on the data from Glassnode
This represents the fastest pace of Bitcoin movement from exchanges since 2015, drawing parallels to a period when BTC price bottomed around $220.
● Bitcoin is entering a historically challenging period in Q3, with August and September often seeing weaker performance. ● The recent 6% drop in Japan’s Nikkei, mirroring “Black Monday” 1987, adds to global market concerns. ➡️ Will $BTC stay "STRONG" or take a "HIT"?
Missed the news? Here's what's happened over the last 24 hours!
💰 MicroStrategy’s Q2 earnings reveals Bitcoin stockpile now $14.7B 🥷 DeFi protocol removed an important line of code that led to a $212K hack 📈 Ethereum ETF flows flip positive even as ETHE total outflows top $2B ❌ 98.6% of memecoins on pumpdotfun fail to even launch. 📉 Ethereum is facing bearish signals, with its price dipping below the key 200-day moving average. 🚨 The FBI has issued a warning about scammers impersonating crypto exchange employees to steal funds. 🔍 What would you do if you turned $8,500 into $800,000 in just one hour? 🎙️ Decentralized: Unpacking the Crypto Rollercoaster with Andrew Chow 🌚 Bitcoin is entering a historically challenging period in Q3, with August and September often seeing weaker performance. 🚨 Global recession concerns wipe out $2.9 trillion from stocks, marking the worst day since the 2020 COVID crash.
Bitcoin pushes towards $70k - going for a new all-time high
📉 Bitcoin struggling to break above $70K, with lower highs keeping bears in control since the March ATH of $73,800. Traders eye $72K as the key resistance level, while support lies around $63K. "This could just mean the ride upward is a bit more melty and grindy before things get slippery higher.”
● Here's a quick market update! = The US 🇺🇸 government holds over 183,000 Bitcoin, valued at ~$12B, making it the largest geopolitical Bitcoin owner. On July 29, the government moved ~$2B in $BTC to a new wallet. Donald Trump recently announced that, if elected, he would create a strategic national Bitcoin stockpile and ensure the government retains 100% of its Bitcoin holdings. Now, it seems to be significant potential for this bull run!