In a significant move for the TrueFiDAO $TRU community, DWF Labs has been in continuous engagement with the platform, providing proposals and actively participating in community meetings.

This collaboration has culminated in DWF Labs becoming the market maker for the $TRU token, a development expected to be officially announced in the coming days.

The timeline of events leading to this partnership is as follows:

1. May 27: A proposal to use DWF Labs as the market maker was initiated on the forum. 2. July 2: The proposal was put to vote on Tally, and by July 10, it was passed unanimously and subsequently implemented. 3. Recent Transactions: Approximately 13 hours ago, address 0xBbc…99E72 received 7.5 million TRU tokens, aligning with the terms of the proposal.

Notable Points Of $TRU Market Making Agreement To Monitor 

The key points of the market-making agreement are outlined as follows:

– Number of Tokens Loaned: 7.5 million TRU – Time Period: 24 months – Yield: DWF Labs offers a 3% annual interest rate, paid every four weeks in stablecoins (USDT/USDC). – Market Making Target: Maintain a bid-ask spread of 35 basis points.

This partnership is designed to enhance liquidity and stability for the $TRU token, benefiting both TrueFiDAO and its community of users. The strategic involvement of DWF Labs aims to ensure that the $TRU token maintains a competitive and efficient market presence.

咦，我发现了什么🤨「DWF Labs 成为 $TRU 做市商」会成为近几天的新闻标题之一吗？

时间线整理1️⃣ 05.27 论坛发起提案，提议由 DWF 作为其做市商2️⃣ 07.02 提案在 Tally 开启投票，07.10 全票通过并执行3️⃣ 地址 0xBbc…99E72 13 小时前收到了 TrueFi 项目方分发的 750 万枚 TRU，与提案数量相符 https://t.co/pH7AMo3lJ1 pic.twitter.com/lXABHGx8Rf

— Ai 姨 (@ai_9684xtpa) July 11, 2024

The engagement with DWF Labs marks a pivotal moment for TrueFiDAO, as it seeks to leverage professional market-making services to optimize token performance and market stability.

This collaboration not only underscores TrueFiDAO’s commitment to enhancing its ecosystem but also highlights the growing importance of professional market makers in the decentralized finance (DeFi) space. As the partnership unfolds, stakeholders will be keenly observing the impact on $TRU’s liquidity and overall market dynamics.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Since its launch on June 26, $BLAST has seen a significant exodus of big investors, resulting in a near 24% drop in Total Value Locked (TVL).

Address 0x663…268c4, linked to @General6316, recently redeemed 1,300 ETH from Blast, depositing it all into Binance, with a value of $4.06 million.

This address began interacting with Blast eight months ago, transferring ETH from Binance at an average price of $2,987. If the recent ETH deposit is sold, the investor stands to make a profit of $170,000.

自 06.26 $BLAST 上线以来，越来越多大户从 Blast 出逃了，TVL 已下降近 24%🏃

地址 0x663…268c4(@General6316) 两小时前收到 Blast 赎回的 1300 枚 ETH 后已全部充值进 #Binance，价值 406 万美金

他从八个月前开始交互 Blast，同期以均价 $2987 从币安转出 ETH，若本次全部卖出将获利 17 万美金… pic.twitter.com/EkgVG2OWwV

— Ai 姨 (@ai_9684xtpa) July 11, 2024

Gotbit Hedge Fund Sees Potential In $Blast Token

Despite this downturn, Gotbit Hedge Fund believes Blast is undervalued. According to Gotbit, the recent price drop is a temporary liquidity withdrawal from airdrop participants and not a sign of Blast’s decline. They are optimistic about Blast’s future, seeing trends that indicate an upcoming price pump.

8/ 👉 Conclusion

A short-term price drop is merely a withdrawal of liquidity from airdrop, but don't think Blast is going out of sight, because it's deeply underrated

We would be happy to invest in Blast Ecosystem cos we see trends for the upcoming pump

— Gotbit Hedge Fund (@gotbit_io) July 11, 2024

“We would be happy to invest in the Blast Ecosystem because we see trends for the upcoming pump,” Gotbit stated.

While the immediate outlook for $BLAST appears shaky, the confidence expressed by Gotbit Hedge Fund suggests that there may be a positive turnaround on the horizon. The current situation may represent a strategic opportunity for new investors to enter the Blast ecosystem at a lower price point before a potential surge in value.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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The post Investors Flee $BLAST, TVL Drops 24%, But Hedge Fund Sees Potential appeared first on The Merkle News.

Despite a market dip, Bitcoin whale and shark wallets are on the rise, while smaller traders sell off their holdings. In July alone, there has been a net increase of 261 wallets holding at least 10 BTC, signaling long-term bullish sentiment among larger investors.

🐳📈 Bitcoin whale and shark wallets are increasing in number while small traders sell off their bags during this dip period. July has seen a net increase of +261 wallets that now hold at least 10 BTC, which should give traders comfort in a long-term bullish future. pic.twitter.com/y0BwKDxNGm

— Santiment (@santimentfeed) July 11, 2024

For over a month, the correlation between Bitcoin and the S&P 500 has broken. While BTC retraced to $54,000, the S&P 500 hit new all-time highs.

It's been over a month since the correlation between #Bitcoin and the S&P 500 broke. While $BTC retraced to $54,000, the S&P 500 hit new all-time highs. Only time will tell if #BTC will catch up! pic.twitter.com/1qyNUuityT

— Ali (@ali_charts) July 11, 2024

The future remains uncertain, but the Bitcoin accumulation trend score suggests a shift in investor sentiment. Following an extended distribution phase since April, many investors are now choosing to accumulate BTC.

The #Bitcoin accumulation trend score indicates a change in investor sentiment, with many now choosing to accumulate $BTC following an extended distribution phase since April. pic.twitter.com/kMSd0Z8P93

— Ali (@ali_charts) July 11, 2024

Adding to the market dynamics, the German government resumed its Bitcoin unloading on July 11, 2024. So far, 2,375 BTC ($138M) has been moved out at an average price of $58,051 today. The government still holds 13,177 BTC ($768M) and is likely to continue offloading more in the coming hours.

The German government has started the #Bitcoin unloading session on July 11, 2024.

So far, the German government has moved out 2,375 $BTC ($138M) at ~$58,051 in the past 15 minutes.

They still hold 13,177 $BTC ($768M) and may move out more $BTC in the next few hours.

Follow… https://t.co/pSF0WHJK2Y pic.twitter.com/I7bj2BCVGu

— Spot On Chain (@spotonchain) July 11, 2024

Bitcoin ETFs have also seen significant activity. July has witnessed an average daily volume of $1.75B among the seven largest ETFs. This activity picked up significantly after a slow start, with average volume rising from $1.24B (July 1-3) to $2.13B (July 4-10), marking a 72% increase.

💸 The month of July has seen an average of $1.75B in Bitcoin ETF volume per day among the 7 largest ETF's. However, things have picked up after a slow start:

😒 Average volume, July 1st through 3th: $1.24B🥳 Average volume, July 4th through 10th: $2.13B (+72% Rise) pic.twitter.com/Stmcw1e9ay

— Santiment (@santimentfeed) July 11, 2024

Bitcoin BTC ETF Net Inflow Hits $147 Million 

On July 10, 2024, BTC ETF net inflow summed to $147M, maintaining a strong positive trend with net inflows exceeding $100M for four consecutive trading days. Fidelity (FBTC) led the inflows with $57.8M, while BlackRock (IBIT) saw a sharp drop from $121M to $22.2M. Grayscale (GBTC) continued to experience a small outflow of $8.2M.

🚨 $BTC #ETF Net Inflow July 10, 2024: +$147M!

• The net inflow remains larger than $100M for 4 consecutive trading days. Strongly positive!

• #Fidelity (FBTC) led with an inflow of $57.8M yesterday.

• #BlackRock (IBIT) saw a sharp drop from $121M to $22.2M.

• #Grayscale… pic.twitter.com/7keJfWX1Uo

— Spot On Chain (@spotonchain) July 11, 2024

These developments suggest a complex but optimistic outlook for Bitcoin, with larger investors showing confidence even as smaller traders exit their positions. The coming weeks will be crucial in determining whether Bitcoin can regain its upward momentum and align with broader market trends.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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The post Bitcoin Whale And Shark Wallets Increase Amid Market Dip appeared first on The Merkle News.

Staked ETH has surged to an all-time high of 33.3 million ETH, accounting for 27.7% of the total supply, driven by growing anticipation of a U.S. ETF approval by July 26. This increase reflects heightened investor confidence in Ethereum’s future.

STAKED ETH CLOSES IN ON ALL TIME HIGH

Staked ETH has surged to a record 33.3 million ETH, marking 27.7% of its total supply, bolstered by growing expectations for a U.S. ETF approval by July 26.

Polymarket data suggests a favorable outlook for ETH against Bitcoin, yet investors… pic.twitter.com/AaZgACgNd5

— IBC Group Official (@ibcgroupio) July 11, 2024

Polymarket data indicates a positive outlook for ETH compared to Bitcoin, though investors remain cautious about setting new all-time highs.

According to Lookonchain, a significant whale has been active, buying 16,074 ETH ($49.24M) in the past week. This whale has withdrawn the same amount from Bitfinex, Binance, and Coinbase since July 5 and staked 16,000 ETH ($49M) just 30 minutes ago.

It seems that a whale bought 16,074 $ETH($49.24M) in the past week.

This whale has withdrawn 16,074 $ETH($49.24M) from #Bitfinex, #Binance and #Coinbase since July 5 and staked 16,000 $ETH($49M) 30 minutes ago.https://t.co/TFcqJuFu0v pic.twitter.com/FGNKPJRW62

— Lookonchain (@lookonchain) July 11, 2024

Other Notable ETH Whale Transfers To Monitor 

In another notable move, a whale deposited 10,000 ETH ($31.38M) into Binance recently. This whale has deposited a total of 30,000 ETH ($94.13M) into Binance since July 1, while still having 15,329 ETH ($48.11M) staked in ether.fi.

A whale deposited 10,000 $ETH($31.38M) into #Binance just now.

This whale has deposited 30,000 $ETH($94.13M) into #Binance since July 1, leaving 15,329 $ETH($48.11M) staked in https://t.co/TTcCvrW4Ta.https://t.co/rzOIVwT7r1 pic.twitter.com/P2Y01YPNp3

— Lookonchain (@lookonchain) July 11, 2024

Elwood (@elwood_io) has been equally active, depositing 26,811 ETH ($83.17M) into Binance over the past three days. Another Elwood-related address withdrew 24,463 ETH ($75.88M) from Binance in the past two days.

We noticed that Elwood(@elwood_io) deposited 26,811 $ETH($83.17M) to #Binance in the past 3 days.

Another #Elwood-related address withdrew 24,463 $ETH($75.88M) from #Binance in the past 2 days.https://t.co/LvMWpxJMEhhttps://t.co/Y38nXm3wUuhttps://t.co/CdNPeJyKGI… pic.twitter.com/hlNenzEVKk

— Lookonchain (@lookonchain) July 11, 2024

These movements highlight significant shifts in the Ethereum market as whales and large investors position themselves ahead of potential ETF approval. While the market shows optimism, the cautious approach from investors suggests a careful balancing of risk and opportunity in the current crypto landscape.

The coming weeks will be crucial in determining whether Ethereum can break new ground or if it will face resistance in its upward trajectory.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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The SEC has officially ended its investigation into Paxos, concluding that BUSD is not a security. Back in 2022, BUSD was a major player among stablecoins, boasting a market cap of about $23 billion.

However, an investigation by the SEC led Binance to delist BUSD and remove it from all trading pairs.

🚨BREAKING: 🇺🇸 SEC officially gives up on stablecoin issuer Paxos investigation, declares $BUSD is not a security. #Bullish 💯

— CoinEcho (@mycoinecho) July 11, 2024

At a time when interest rates stood at 5.5%, the $23 billion in BUSD could have generated approximately $1.265 billion in a year through US bonds. Yet, the investigation significantly impacted BUSD’s presence in the market.

BUSD “Killed” In The Process

Despite the closure of the investigation, BUSD has been effectively “killed.” Its market cap has now plummeted to just $70 million, and its usage has dwindled to almost nothing. The stablecoin market has seen a surge in competition, with the emergence of PayPal’s PYUSD, Ethena Labs’ USDe, Aave’s GHO, and others.

OMG… Back in 2022, $BUSD was a major player among stablecoins, with a market cap of about $23 billion.

Then the SEC stepped in. An investigation led to @binance delisting BUSD and removing it from all trading pairs.

With interest rates at 5.5%, that $23 billion could have… https://t.co/5zqus0UF5x pic.twitter.com/78fTJuCjra

— MOIC Digital | Research (@moic_digital) July 11, 2024

The fall of BUSD underscores the rapid changes and fierce competition within the stablecoin market. While BUSD was once a dominant force, regulatory scrutiny and market dynamics have reshaped the landscape, allowing new contenders to emerge and gain traction.

The end of the SEC’s investigation marks a significant point in the regulatory landscape for cryptocurrencies. However, for BUSD, the damage has already been done. As new stablecoins continue to develop and capture market share, BUSD’s decline serves as a stark reminder of the impact regulatory actions can have on digital assets.

In the evolving world of stablecoins, the fall of BUSD highlights the critical interplay between regulation, market perception, and competition. As the market continues to innovate, the legacy of BUSD will remain a case study in how swiftly fortunes can change in the digital currency space.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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$BRETT on the Base network is drawing significant attention from smart money traders today, boasting a cumulative trading volume 15 times higher than its closest competitor.

More than 230 smart wallets have been actively trading $BRETT, highlighting its growing popularity and potential in the market.

According to on-chain reports from icrypto, two wallets have made noteworthy profits with $BRETT. Wallet 0x07cc (icrypto.ai/wallet/0x07cc5…) earned $29.35K, representing a 5% gain in just 5 hours. This wallet has accumulated an impressive $520.3K in profits, reflecting a 52.49% increase with $BRETT trades.

This Whale Wallet Has Made Over $80K In Profits From $BRETT Investment 

Similarly, wallet 0xbb96 (icrypto.ai/wallet/0xbb96a…) earned $13.5K, a 9.7% gain in one day. This trader has realized $80.5K in profits, marking a 38.45% increase with $BRETT. Notably, wallet 0xbb96 still holds $152.7K worth of $BRETT tokens, indicating strong confidence in the token’s future performance.

$BRETT on #Base: Outstanding Volume from Smart Money 😬$BRETT is truly attracting Smart Money today, as its cumulative volume is 15x higher than the 2nd one. 😊

More than 230 Smart Wallets have traded $BRETT, details here: https://t.co/2riaC5aaNa

We noticed:– Wallet 0x07cc… pic.twitter.com/ns5D3rrp2g

— iCrypto | Sentiment & On-chain Analysis (@iCryptoAI) July 10, 2024

The surge in smart money activity around $BRETT underscores its growing appeal among savvy investors. The substantial trading volumes and significant profits realized by smart wallets suggest that $BRETT is becoming a favored choice for those seeking high returns in the crypto market.

$BRETT’s performance today is a testament to its potential as a lucrative investment. As more smart money flows into $BRETT, its market position is likely to strengthen further, attracting even more traders and investors.

The impressive gains reported by wallets 0x07cc and 0xbb96 highlight the profitable opportunities that $BRETT offers, making it a token to watch in the coming days.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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In a strategic move aimed at enhancing liquidity and propelling the next phase of T1 Pursuits, Apu has partnered with Wintermute, a major player in the industry known for collaborating with prominent projects.

This partnership is expected to significantly impact Apu’s growth and market presence.

Hi Frens! 🐸

Today, we are very pleased to share that Apu has teamed up with Wintermute to act as our liquidity provider moving forward!

Wintermute is an absolute titan in the industry who has worked with many of the most prominent projects, and we are very excited to work with… pic.twitter.com/fW2g9kRniS

— Apu Apustaja (@ApusCoin) July 8, 2024

Thirteen hours ago, wallet 0x2c77 (icrypto.ai/wallet/0x2c77D…) transferred 1.2 billion $APU tokens, valued at $592,000, to Wintermute’s wallet 0xc702. This strategic transfer marks a significant step in Apu’s journey toward improved liquidity and scalability.

Wallet 0x2c77 has been a notable participant in the $APU market. The wallet purchased 3.7 billion $APU tokens for $50,000 in March and has held onto them despite a 40x increase in value. Currently, the wallet holds 2.55 billion $APU tokens, now worth $1.20 million.

13hrs ago, Wallet 0x2c77 (https://t.co/SydH3xolBe) transferred 1.2B $APU ($592K) to the Wintermute 0xc702🤩

0x2c77 bought 3.7B $APU ($50K) in March and didn't sell despite $APU increasing 40x. Currently holding 2.55B $APU ($1.20M).

More about $APU: https://t.co/NEOA6XDBet… https://t.co/B1qtgN0HBy pic.twitter.com/Ojl19qNYKK

— iCrypto | Sentiment & On-chain Analysis (@iCryptoAI) July 10, 2024

$APU Price Action Following Recent Happenings To Monitor

Following the announcement of the partnership and the subsequent transfer, $APU has surged 17% in the past 24 hours. This upward movement underscores the positive market response to Apu’s strategic collaboration with Wintermute.

The partnership with Wintermute is poised to enhance Apu’s liquidity, making it easier for traders to buy and sell $APU tokens. This improved liquidity is expected to attract more investors and boost trading volume, contributing to the overall growth and stability of Apu’s market.

As Apu and Wintermute continue to work together, the market will be closely watching for further developments and the impact of this partnership on Apu’s long-term success. With Wintermute’s expertise and Apu’s innovative approach, the future looks promising for $APU and its holders.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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In a significant move today, a whale or institution made notable purchases of AAVE and UNI. This entity deposited 4 million USDC to Kraken and subsequently withdrew 35,983 AAVE (valued at $3 million) and 123,183 UNI (valued at $1 million).

Currently, the whale holds a substantial amount of both tokens: 142,296 AAVE ($12.1 million) and 1.43 million UNI ($11.6 million).

A whale/institution bought $AAVE and $UNI again today.

He deposited 4M $USDC to #Kraken, then withdrew 35,983 $AAVE($3M) and 123,183 $UNI($1M) from #Kraken.

He currently holds 142,296 $AAVE($12.1M) and 1.43M $UNI($11.6M).https://t.co/I5GL4GXr1L pic.twitter.com/7Qj0h3lP0F

— Lookonchain (@lookonchain) July 10, 2024

According to icrypto data, Wofhaley.eth, a prominent trader, has also made strategic shifts in his holdings.

He recently moved part of his portfolio from LINK to AAVE and SNX. Earlier today, Wofhaley.eth purchased 33.41K LINK (~$428.6K), making LINK the most accumulated token among smart money in the past 24 hours.

However, just 20 minutes ago, he swapped a portion of his LINK holdings for $44.3K worth of SNX and $65.36K worth of AAVE. His return on investment (ROI) with LINK from these transactions is +3%.

Wofhaley.eth just shifted part of his holdings from $LINK to $AAVE and $SNX🤔

His address here: https://t.co/hB1A6oMkKv

He is the one who bought 33.41K $LINK ~ $428.6K 6 hours ago, making $LINK the top 1 accumulated token of smart money in the past 24 hours.

However, 20… pic.twitter.com/RHHgRVaiWV

— iCrypto | Sentiment & On-chain Analysis (@iCryptoAI) July 10, 2024

Other Technical Outlook To Monitor For Chainlink LINK 

Santimentfeed data suggests that Chainlink’s weak hands are beginning to capitulate, releasing significant amounts of LINK. The $60 million in LINK realized losses yesterday points to substantial trader fear, uncertainty, and doubt (FUD), which could indicate a local bottom for the token.

🔗 Chainlink's weak hands have just shown signs of giving up hope and released significant levels of coins. The 60M in LINK realized losses yesterday is indicative of significant trader FUD, and increases the likelihood of a local bottom. 👍 pic.twitter.com/EeC4LFSoQz

— Santiment (@santimentfeed) July 9, 2024

These moves highlight a strategic reallocation of assets among savvy investors, focusing on AAVE, UNI, and SNX while reducing exposure to LINK. The whale’s substantial holdings and Wofhaley.eth’s recent trades reflect a calculated approach to capitalize on current market conditions and potential growth opportunities.

The activity surrounding AAVE and UNI, coupled with the shifting sentiment in LINK, underscores the dynamic nature of the crypto market. Investors are keenly observing these developments, as they could signal emerging trends and potential investment opportunities in the near future.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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The post Whale Activity Sparks Interest In AAVE And UNI appeared first on The Merkle News.

Restaking is an innovative approach to enhancing cryptocurrency security by allowing users to use their assets to protect external services.

By restaking your ETH, LST, or other tokens, you receive a new token called Liquid Restaking Token (LRT). This method not only bolsters security across various networks but also provides users with additional benefits.

According to @intotheblock, restaking has experienced significant growth, marked by a substantial increase in total value locked (TVL) and a rise in the number of unique addresses participating in restaking. This growth underscores the increasing adoption and trust in this new security mechanism.

EigenLayer, a pioneer in restaking, has paved the way for this trend, which is now attracting new players like Symbiotic and Karak. These newcomers are contributing to the evolution and expansion of restaking, further enhancing the security landscape of the cryptocurrency world.

https://twitter.com/PinnacleCrypt/status/1810683159241187347?t=UXpd_Kisyv10r08k58g_aQ&s=19

Restaking represents a game-changer for cryptocurrency security, offering a dual advantage: improved protection for networks and additional rewards for users. By engaging in restaking, users can contribute to a safer crypto environment while earning extra benefits from their staked assets.

The concept is straightforward yet powerful. When users restake their tokens, they essentially lend their security to external services, receiving LRT in return. This process not only incentivizes participation through rewards but also enhances the overall robustness of blockchain networks by leveraging the collective power of staked assets.

In summary, restaking is revolutionizing the way we think about cryptocurrency security. With its rapid adoption and growing popularity, restaking is poised to make the crypto space safer and more rewarding for all participants. Whether you’re a seasoned crypto investor or new to the scene, exploring restaking could offer both enhanced security for your assets and attractive incentives.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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According to rwa.xyz, Ondo Finance now contributes over 34.5% to BlackRock’s $BUIDL fund through its USDY and OUSG tokens, aiming to achieve its $27 trillion goal of tokenizing the entire US Treasury market.

According to rwa. Xyz $ondo finance now contributed over 34.5% to @BlackRock $BUIDL fund by utilizing its $USDY $OUSG – aiming to reach it's 27 Trillion goal of tokenizing the entire us treasury market ⏳️ pic.twitter.com/KOVQpHAUZa

— DEXT COP (@DextCop) July 10, 2024

Just an hour ago, a whale identified by wallet address 0xa555 withdrew 1.24 million ONDO tokens, valued at $1.2 million, from KuCoin. This substantial amount was then transferred to wallet 0x95a5. Notably, this pattern of behavior was observed on May 3 and June 19 as well.

Additionally, wallet 0x95a5 has previously deposited ONDO tokens back into KuCoin twice. If the whale decided to sell on May 11, they would have incurred an estimated loss of $21.77K (2.4%). Similarly, if sold on July 3, the estimated loss would have been $129.21K (6.93%).

1 hr ago, one whale 0xa555 (https://t.co/Nj7zcepT0m) withdrew 1.24M $ONDO (worth $1.2M) from #KuCoin 👨‍💻

This whale then transferred the entire amount to wallet 0x95a5. A similar behavior was also observed on 05/03 and 19/06. 👨‍💻

Additionally, wallet 0x95a5 has deposited ONDO to… pic.twitter.com/R5ZVEWyYu0

— iCrypto | Sentiment & On-chain Analysis (@iCryptoAI) July 10, 2024

Another Notable Whale Deposits 8.6 Million ONDO Tokens To Bybit

Onchain data from @onchaindatanerd reveals that another whale, identified by wallet 0x3D2, deposited 8.6 million ONDO tokens, worth $7.93 million, to Bybit. This whale had accumulated these tokens three months ago at an average price of $0.60 per token. If sold at the current price, this whale stands to earn a profit of $2.84 million.

11 hours ago, a whale 0x3D2 deposited 8.6M $ONDO ($7.93M) to #Bybit.

3 months ago, he accumulated those tokens at avg $0.6.

If sold at current price, he will earn $2.84M.

Address:https://t.co/vHDlLdQhiU pic.twitter.com/fRAqMHGgrv

— The Data Nerd (@OnchainDataNerd) July 10, 2024

These substantial movements in ONDO tokens underscore the growing confidence and strategic maneuvers of large holders within the market. Ondo Finance’s significant contribution to BlackRock’s fund highlights the potential of tokenizing traditional financial assets and the increasing integration of blockchain technology within mainstream finance.

As Ondo Finance continues to play a crucial role in this ambitious tokenization goal, the movements of major token holders will likely continue to attract attention and potentially influence market dynamics.

Disclosure: This is not trading or investment advice. Always do your research before buying any move-to-earn crypto coins.

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The post Ondo Finance Powers BlackRock’s Ambitious Tokenization Goal appeared first on The Merkle News.

$MOG on Ethereum continues to demonstrate notable strength compared to other meme coins and altcoins.

The token’s market capitalization has returned above $500 million, accompanied by a 15% gain in the past 24 hours.

Recent actions by smart DEX traders underscore the growing confidence in $MOG. Wallet 0xe99b, a seasoned trader on icrypto.ai, has reported profits of $1.27 million from trading $MOG.

Approximately four hours ago, this wallet purchased an additional 42.94 billion $MOG tokens, valued at $66,010, bringing its total holdings to 56.48 billion $MOG, worth $84,600.

$MOG – Update from Smart DEX Traders' actions 🤔🤔

Wallet 0xe99b (https://t.co/c9dEaHIy5y)– Made $1.27M profits from $MOG, – Just bought more 42.94B $MOG ($66.01K) around 4hrs ago– Total holding 56.48B $MOG ($84.6K).

Another smart wallet 0x1492 (https://t.co/BmqFdTpSjr)-… pic.twitter.com/Sgb0xajcVv

— iCrypto | Sentiment & On-chain Analysis (@iCryptoAI) July 9, 2024

More Wallets Makes Strategic Moves On $MOG

Another strategic move comes from wallet 0x1492, which bought 53 billion $MOG tokens at a price of $0.00001521, amounting to $79,900. This wallet now holds a total of 66.09 billion $MOG tokens, valued at $100,000.

These transactions highlight a significant interest in $MOG from sophisticated traders, reflecting the token’s potential for substantial returns. As $MOG’s market cap grows and more smart money flows in, the token’s resilience and appeal continue to rise, setting it apart in the competitive landscape of meme coins and altcoins.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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After Bitcoin’s retracement to $55.4K, a very bullish signal is becoming evident. Traders active in the past year have averaged returns of just +1.8%, the lowest level since BTC surged past $20K in March 2023.

This low average return indicates potential for a significant upward move.

🤯 After Bitcoin's retrace to as low as $55.4K, a very bullish signal is within reach. Average returns of traders active in the past year are only +1.8%, the lowest level since BTC bounced above $20K for good back on March 11, 2023.

One of the top signals for all of crypto that… pic.twitter.com/Ve33dMgbeH

— Santiment (@santimentfeed) July 8, 2024

The network currently has 54.09 million non-empty Bitcoin wallets, a decrease of 566,000 since June 15th. This reduction suggests that impatient investors are exiting, potentially marking a FUD-driven bottom similar to January’s market behavior.

👋 There are currently 54.09M non-empty Bitcoin wallets on the network, dropping by a net of 566K since June 15th. Patient bulls should be pleased with this, as self-liquidating wallets from impatient non-believers is a sign of FUD-causing bottoms, just like we saw in January. pic.twitter.com/h2jK9YvCf9

— Santiment (@santimentfeed) July 9, 2024

Sentiment analysis on social platforms like X, Reddit, Telegram, 4Chan, and BitcoinTalk shows the most bearish outlook in a year. Historically, such high levels of fear often precede a rebound, catching the majority off guard.

😒 Bitcoin sentiment among traders on X, Reddit, Telegram, 4Chan, and BitcoinTalk are showing the most bearish narratives this week in a year. When the crowd shows FUD at this level, the chances of a rebound to catch the majority off guard is at its peak. pic.twitter.com/JLOhNB77n7

— Santiment (@santimentfeed) July 9, 2024

In the short term, Bitcoin is trading within a parallel channel. With BTC near the channel’s lower boundary, the TD Sequential indicator has flashed a buy signal, suggesting a potential rebound to around $58,300. According to analyst Ali Martinez, if Bitcoin hits $58,400, $16.81 million worth of positions on Binance will be liquidated. Bitcoin is currently trading at $57.4K.

On lower time frames, #Bitcoin is currently trading within a parallel channel. As $BTC hovers near the channel's lower boundary, the TD Sequential indicator flashes a buy signal, suggesting a potential rebound to around $58,300! pic.twitter.com/qe05Y6M0BY

— Ali (@ali_charts) July 9, 2024

$16.81 million will be liquidated in @binance if #Bitcoin surges to $58,400! pic.twitter.com/rosIr5ouOp

— Ali (@ali_charts) July 9, 2024

Yesterday, the German government accumulated 3,673 BTC ($207 million), reversing its recent outflows. After moving out 16,039 BTC (~$1 billion) last night, causing Bitcoin’s price to drop, the government’s quick reaccumulation suggests a strategic move.

🔴 The German Government accumulated back 3,673 $BTC ($207M) ~7 hours ago.

After moving out 16,039 $BTC (~$1B) last night and causing the #Bitcoin price to plummet, the German Government has already accumulated back 3,673 $BTC.

These on-chain activities raise several questions:… pic.twitter.com/sFTXUxOx1h

— Spot On Chain (@spotonchain) July 9, 2024

Bitcoin ETFs Records Massive Inflows 

Meanwhile, Bitcoin ETFs saw significant inflows. On July 8, 2024, US Bitcoin ETFs recorded a net inflow of $295 million, the highest in 21 trading days, despite the $1 billion outflow from the German government. Notably, no US Bitcoin ETF, including Grayscale, experienced outflows yesterday. BlackRock’s IBIT ETF saw a single-day inflow of $187 million, the highest in 20 trading days.

🚨 $BTC #ETF Net Inflow July 8, 2024: +$295M!

• This is the highest net inflow by the 10 US Bitcoin ETFs in the past 21 trading days, which came despite the $1B worth of $BTC outflows from the German government.

• No US Bitcoin ETF, not even #Grayscale, saw an outflow… pic.twitter.com/kzJglkSShG

— Spot On Chain (@spotonchain) July 9, 2024

Overall, despite current market fear, several indicators point to a potential bullish reversal for Bitcoin.

We're witnessing the highest level of fear in the #crypto market since January 2023! pic.twitter.com/DhArw0Vbgm

— Ali (@ali_charts) July 9, 2024

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any stocks.

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Ethereum has surged to $3.1K today, marking a 3% uptick in value. This increase comes as the crypto market shows signs of stabilization following a standard correction.

The total cryptocurrency market capitalization appears to have bottomed out, bolstered by the recent filing of final documents for Ethereum ETFs, which are set to launch in less than a week.

Early Monday, VanEck filed an amended S-1 registration statement for its spot Ethereum ETF, incorporating minor changes to custody details.

This was soon followed by filings from other major players like 21Shares, BlackRock, Fidelity, Franklin Templeton, and Grayscale. Trading is expected to commence around July 15, sparking optimism among investors.

VanEck filed an amended S-1 registration statement for its spot Ethereum ETF early Monday, mainly including minor changes to custody. Other companies such as 21Shares, BlackRock, Fidelity, Franklin Templeton and Grayscale also filed later in the day. It is expected that trading…

— Wu Blockchain (@WuBlockchain) July 9, 2024

Some Whale Sells Off His Ethereum Holdings Making Some Profits 

On-chain reports reveal that a prominent whale has liquidated his Ethereum holdings, securing a substantial profit. The whale, identified by the address 0x99E…dFCaB, had accumulated 13,140 ETH at an average price of $2,075 from February 2021 to January 2024. Over the past four days, these assets were transferred in batches to the address 0x957…eb794, with the final transfer of 3,960 ETH completed today.

Currently, all 13,246 ETH have been deposited into Bybit, valued at $40.17 million, with an average deposit price of $3,033. This move has netted the whale an estimated profit of $12.68 million, showcasing the lucrative potential of strategic crypto investments.

又一个过去三年建仓 $ETH 的巨鲸清仓离场了，预计获利 1268 万美金！🐋

地址 0x99E…dFCaB 在 2021.02 – 2024.01 期间以均价 $2075 建仓了 13140 枚 $ETH，过去四天内分批转移至地址 0x957…eb794，最后一笔 3960 枚于一小时前完成转移

目前这 13,246 枚 ETH 已全部充值进 #Bybit，价值 4017… pic.twitter.com/aVp4DizSWz

— Ai 姨 (@ai_9684xtpa) July 9, 2024

As the Ethereum ETF launch date approaches, market participants are closely monitoring these developments, anticipating further bullish momentum. The filing and potential approval of these ETFs are seen as significant catalysts that could drive Ethereum’s price even higher in the coming days.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Covalent ($CQT) has experienced a significant rebound, with its value surging by 25% in the past 24 hours and a 70% increase in trading volume.

This uptick comes as Covalent announces a pivotal Governance Proposal to transition from $CQT to $CXT tokens.

The Governance Proposal outlines several key changes: 1. Token Ticker Change: The proposal aims to change the token ticker from CQT to CXT. 2. Staking Contracts Migration: Staking contracts will be migrated from CQT to CXT on the Ethereum blockchain. 3. Future Governance Migration: Future governance will also transition from CQT to CXT on Ethereum. 4. Token Distribution: All current CQT holders will receive an equivalent amount of CXT tokens. 5. Improved Token Liquidity: The transition is expected to enhance overall token liquidity.

1/ The moment you’ve all been waiting for: DAY ZERO of The New Dawn is upon us 🌅

🚨 We're excited to announce a Governance Proposal for a crucial transition from Covalent Network’s existing token, CQT, to CXT. This is the most significant step of our journey thus far and marks…

— Covalent (@Covalent_HQ) July 8, 2024

CQT and CXT 1:1 Token Migration And Trading

The Covalent team has assured stakeholders that the tokens will remain secure throughout this transition. All token holders, operators, and delegators will have their CQT positions automatically migrated to CXT on a 1:1 ratio, ensuring a seamless transition.

Trading for CQT will cease on July 9, 2024, at 00:00 UTC. Following a successful governance vote and migration, trading for CXT will resume. Major exchanges, including OKX, Gate.io, Crypto.com, and KuCoin, have expressed readiness to support this transition.

This governance proposal marks a significant step for Covalent, aiming to enhance the ecosystem’s efficiency and liquidity. As the market reacts to these changes, the recent price surge reflects growing confidence in Covalent’s future prospects.

Covalent’s proactive approach in upgrading its tokenomics and governance structure positions it well for continued growth and adoption within the crypto space. The community and investors alike will be closely watching the upcoming governance vote and the subsequent migration process.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.

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Polygon’s Q2 2024 financial report reveals a mixed bag of outcomes. While some metrics from the income statement have shown a decline compared to the previous quarter, the overall performance of the network and ecosystem demonstrates strong growth and resilience.

Increasing Polygon MATIC Holders

One of the standout figures is the continuous rise in the number of MATIC holders, showcasing an impressive 76% year-over-year (YoY) growth. This indicates growing confidence and interest in the Polygon network among investors and users.

$MATIC Network Metrics

The network’s activity remains robust. In Q2 2024, Polygon recorded over 370 million transactions and saw the creation of 28 million unique addresses. These figures represent significant growth, underscoring Polygon’s expanding user base and increased transaction volume.

.@0xPolygon Q2 2024 Financial Report

Statistics from Polygon Q2 Income Statement saw some declines compared to the last quarter

Nevertheless, the number of MATIC holders continues to increase overtime, with ~76% YoY growth pic.twitter.com/iIsjRijtup

— Coin98 Analytics (@Coin98Analytics) July 8, 2024

Polygon Ecosystem Metrics

Polygon’s ecosystem metrics also reflect positive trends. The total value locked (TVL) in the network closed at approximately $820 million. This substantial figure highlights the growing trust and usage of Polygon’s decentralized finance (DeFi) services.

In the realm of non-fungible tokens (NFTs), Polygon saw the creation of over 41 million new NFTs in Q2 alone. Additionally, the number of unique NFT buyers grew by 40% YoY, signaling a vibrant and expanding NFT marketplace on the Polygon network.

Conclusion

Despite facing some declines in specific financial metrics compared to the last quarter, Polygon’s overall performance in Q2 2024 illustrates a network in growth mode. The increase in MATIC holders, high transaction volumes, and significant activity in the NFT space highlight Polygon’s strong position in the blockchain ecosystem.

As the network continues to develop and attract more users, its future looks promising, with a solid foundation for continued expansion and innovation.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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The Re-Staking ecosystem is experiencing rapid growth, with Eigen Layer at the forefront. As of June 14, 2023, Eigen Layer boasts a total value locked (TVL) of $15.03 billion, dominating the market with 69% of its TVL in WETH.

Its early launch and successful $150 million fundraising have solidified its market position.

A newcomer to the scene, Symbiotic, launched on June 11, 2024, has already raised nearly $1 billion in TVL. This meteoric rise is fueled by $5.8 million in fundraising, with WSTETH accounting for 74% of its TVL. The rapid growth of Symbiotic underscores its potential and the increasing user trust in the protocol.

Karak, another recent entrant launched on April 9, 2024, is showing steady growth with a TVL of $798 million, supporting 38 tokens. WEETH is its largest asset, representing 16% of its TVL. Karak’s diverse token support highlights its solid performance in the competitive re-staking space.

#ReStaking ekosistemi hızla büyüyor ve #EigenLayer buna öncülük ediyor.

EigenLayer, 14 Haziran 2023 itibarıyla 15,03 milyar $'lık bir TVL'ye sahip ve TVL'sinin %69'unu WETH olarak kullanarak piyasaya hakim durumda. Erken lansmanı ve 150 milyon dolarlık bağış toplaması konumunu… pic.twitter.com/cNJpH6DPXK

— Baykuş (@KriptoBaykusV2) July 6, 2024

Overall Re-Staking Ecosystem Hits A TVL Of $16.82 Billion

The overall re-staking ecosystem has surged to a TVL of $16.82 billion as of July 6, 2024. This impressive growth is driven by key players such as Eigen Layer, Symbiotic, and Karak, reflecting increasing adoption and trust in re-staking mechanisms.

As of July 6, 2024, 5.59 million ETH have been staked, representing 0.18% of total staked ETH and 0.05% of all ETH in circulation. This indicates a growing interest in putting ETH back into circulation, despite it constituting a small share of the overall market.

In conclusion, despite shaky market conditions, the re-staking ecosystem is on a steady rise. With strong foundations and increasing user trust, these growth trends are likely to continue, signaling a promising future for re-staking platforms.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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This month, Trondao continues to lead the blockchain space in terms of daily active users, boasting over 1.9 million users.

This impressive figure surpasses other notable blockchains such as Polygon (1.3 million), Ronin (980,000), Solana (974,000), and BNB Chain (751,000), cementing Tron’s position as a dominant player in the industry.

This month, @trondao continues to be the blockchain with leading amount of daily active users, with over 1.9M users pic.twitter.com/Xosz07MMqK

— Coin98 Analytics (@Coin98Analytics) July 7, 2024

In addition to its user growth, data from IntoTheBlock revealed a significant movement in Tron’s native token, $TRX. Yesterday, $13.1 million worth of $TRX was withdrawn from exchanges, marking the largest single-day withdrawal in over a month.

This substantial outflow indicates a trend of accumulation, suggesting that investors are increasingly bullish on $TRX.

$13.1 million worth of $TRX was withdrawn from exchanges yesterday. This is the largest in over a month, signaling accumulation. pic.twitter.com/kq8mUV6xgr

— IntoTheBlock (@intotheblock) July 8, 2024

Justin Sun Confirms New Development Of A Gas-Free Transaction Solution For Stablecoins 

Adding to the momentum, Tron’s founder Justin Sun announced the development of a gas-free transaction solution for stablecoins. This innovative service, aimed at enhancing user experience by eliminating gas fees, is expected to be operational by Q4 of this year. Initially, the solution will be implemented on Tron, with plans for compatibility across other EVM networks.

📢 ICYMI: @justinsuntron, founder of Tron, a smart contracts-enabled blockchain, has announced that his team is developing a gas-free transaction solution for stablecoins.

The service is expected to be operational by Q4 and will be implemented by Tron first, featuring… pic.twitter.com/g63hX8hEFG

— BNB Swap (@BNBSwap) July 8, 2024

Tron’s consistent user growth, significant accumulation signals, and forward-thinking developments like the gas-free transaction solution highlight its robust ecosystem and potential for future expansion. As the blockchain landscape continues to evolve, Tron’s proactive approach to user engagement and technological advancements positions it well for sustained success.

In conclusion, Trondao’s leadership in daily active users and significant $TRX accumulation are strong indicators of its growing influence in the blockchain space. With innovative solutions on the horizon, Tron is poised to maintain its upward trajectory and continue attracting a broad user base and investor interest.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Despite recent fluctuations in Bitcoin’s price, a significant majority of holders remain in profit. Data from IntoTheBlock indicates that 82% of Bitcoin holders are still in profit, even after the latest price drop.

According to @intotheblock 82% of Bitcoin holders are still in profit, even after the recent price drop of $BTC. Do you think these holders will take profit out of fear or buy more?https://t.co/yvijWHJ9tP pic.twitter.com/AWF44mluTF

— 🪶ALTCOIN DADDY 🇹🇹🇳🇬 {A.D}𓃵 (@Altcoin_daddy) July 8, 2024

This resilience is highlighted by the unrealized profit-to-loss ratio per coin, which shows that paper gains are 8.2 times larger than paper losses. Historically, only 18% of trading days have seen a larger relative value, all of which occurred during euphoric bull market phases.

Assessing the ratio between the #Bitcoin unrealized profit/loss per coin, we can see that the magnitude of paper gains held is 8.2x larger than paper losses.

Only 18% of trading days have recorded a larger relative value, all of which are within Euphoric bull market regimes. pic.twitter.com/ltejMiq2Ml

— glassnode (@glassnode) July 8, 2024

In an intriguing development, the German government has been actively moving its Bitcoin holdings.

According to on-chain reports from Spotonchain, the German government transferred out another 1,000 BTC (approximately $55.8 million) just 20 minutes ago. Of this, 500 BTC ($27.9 million) was deposited to exchanges Bitstamp and Kraken.

This is part of a broader trend since June 20, during which the government has moved a net amount of 11,033 BTC ($669 million) at an average price of $60,669.

The German Government Now Holds 38,826 BTC, Valued At $2.16 Billion At Current Price Level

Currently, the German government holds 38,826 BTC, valued at around $2.16 billion. These movements by such a significant holder are closely watched by market participants, as they can influence market sentiment and price dynamics.

The German Government transferred out another 1,000 $BTC ($55.8M) 20 minutes ago, of which 500 $BTC ($27.9M) has been deposited to #Bitstamp and #Kraken.

Since June 20, they have moved out a net amount of 11,033 $BTC ($669M) at an average price of $60,669.

Currently, the German… https://t.co/cDc6TJsUm7 pic.twitter.com/hmq1zcYcJn

— Spot On Chain (@spotonchain) July 8, 2024

The substantial unrealized profits, coupled with the active management of holdings by entities like the German government, underscore the complexity of the current Bitcoin market. While recent price drops have raised concerns, the overall profitability of holders and strategic moves by large stakeholders suggest a nuanced picture. The market’s resilience, as evidenced by the high percentage of profitable holders, indicates underlying strength, even amidst volatility.

In conclusion, Bitcoin’s market dynamics continue to be shaped by a mix of long-term holder profitability and strategic asset movements by significant entities. As the market evolves, these factors will play crucial roles in determining future trends and investor sentiment.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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The post Bitcoin Holders In Profit Despite Market Volatility: Analyzing Unrealized Gains And Government Movements appeared first on The Merkle News.

Avalanche has reported impressive growth in its Q2 2024 financial and network metrics, signaling strong performance and adoption.

During this quarter, Avalanche’s fees and revenue totaled $3.5 million, reflecting the platform’s increasing utility and engagement.

Meanwhile, AVAX trading volume surged to $42.5 billion, marking a remarkable 165% increase compared to the same period last year.

The network metrics for Q2 2024 highlight Avalanche’s expanding reach and activity. Over 101 million transactions were conducted, and 2.3 million new addresses were created across all subnets. This growth brings the total number of unique addresses to over 21 million, representing a 92% increase year-over-year.

. @avax Q2 2024 Financial Report

Avalanche’s fees and revenue in Q2 reached a total of $3.5M

Meanwhile, AVAX trading volume saw an impressive $42.5B, a more than 165% increase compared to the same period last year pic.twitter.com/GsVEWp2C7n

— Coin98 Analytics (@Coin98Analytics) July 8, 2024

Remarkable Milestone To Monitor On The Avalanche Ecosystem 

Avalanche’s ecosystem metrics also showcased significant milestones. The total value locked (TVL) on the platform reached $710 million by the end of Q2. NFT sales volume exceeded $28.3 million, a tenfold increase compared to the previous year, underscoring the burgeoning interest in Avalanche’s NFT marketplace.

Additionally, the total stablecoin market cap on Avalanche hit $1.6 billion, with USDT and USDC growing by 10.1% and 4.4% quarter-over-quarter, respectively.

These figures reflect Avalanche’s robust growth and its increasing appeal to users and developers alike. The significant rise in trading volume, transaction count, and new addresses indicates a thriving network with a strong user base. The surge in TVL and NFT sales volume further emphasizes the platform’s expanding ecosystem and its potential for continued growth.

In conclusion, Avalanche’s Q2 2024 report highlights substantial progress in both financial and network metrics. The platform’s impressive performance and growing adoption underscore its position as a leading blockchain in the industry, poised for further success and innovation in the coming quarters.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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The Ethereum market witnessed a notable downturn with a 7% drop in the past 24 hours, prompting strategic moves from savvy traders and projects alike.

Two prominent traders capitalized on the bearish trend by selling off a substantial amount of ETH, totaling 13,680 ETH, equivalent to approximately $41 million.

One of these traders, smartestmoney.eth, deposited 6,440 ETH (approximately $19.5 million) to Binance about 21 hours ago, incurring an estimated loss of $2.65 million from their latest ETH trade. Despite this loss, their cumulative profit from ETH transactions stands at an impressive $20.6 million.

Another trader, inactive whale 0x742, deposited the remaining 7,240 ETH ($21.4 million) to Kraken just 4 hours ago, reaping an estimated profit of $12.83 million, reflecting a gain of 149% since holding these tokens for over 1.5 years.

As #Ethereum price dropped 7% again (24H), two smart traders went bearish and unloaded 13,680 $ETH (~$41M)!

1. smartestmoney.eth deposited all 6,440 $ETH ($19.5M) to #Binance ~21 hours ago.

• Est. loss from the latest $ETH trade: $2.65M (-7.74%).• Cumulative profit from… pic.twitter.com/iKbZgmT2uO

— Spot On Chain (@spotonchain) July 8, 2024

In parallel, Golem (@golemproject) executed significant sell-offs, totaling 24,400 ETH ($72 million) across Binance, Coinbase, and Bitfinex over the past three days. Despite these transactions, Golem still holds a substantial 127,634 ETH, valued at approximately $372 million. Golem initially raised 820,000 ETH through an ICO in November 2016, when ETH was priced at just $10.2, highlighting the project’s long-term strategic asset management.

Golem(@golemproject) has sold 24,400 $ETH($72M) on #Binance, #Coinbase and #Bitfinex in the past 3 days, and currently holds 127,634 $ETH($372M).

Golem raised 820,000 $ETH through ICO in November 2016, when the price of $ETH was only $10.2.https://t.co/6c9yw07Sce… pic.twitter.com/wHHCRoQMEz

— Lookonchain (@lookonchain) July 8, 2024

Possible Ethereum ETFs Launch This Week Per Predictions 

Meanwhile, Matrixport has unveiled plans for an Ethereum ETF launch, anticipating SEC approval as early as this week. This development could inject optimism into the market, similar to previous Bitcoin ETF rallies. Analysts at Bernstein have set a bullish target for ETH at $6,600, buoyed by the potential approval and historical market movements. Currently, ETH is trading at $3,068, showing a modest 2% increase in the last 24 hours.

🚀 Matrixport reveals Ethereum ETF launch timeline, predicting SEC approval this week! 🗓️ They expect swift progress on S-1 approvals. Bernstein targets ETH to surge to $6,600, citing similarities with previous Bitcoin ETF rallies. ETH price currently at $3,068, up 2% in 24…

— Collin Brown (@CollinBrownXRP) July 8, 2024

These developments underscore the dynamic nature of the Ethereum market, where price fluctuations trigger strategic responses from traders and projects alike. As regulatory milestones and market sentiments evolve, ETH’s trajectory remains closely watched for potential shifts in investor sentiment and market dynamics.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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