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Justin Sun Clarifies Bitcoin (BTC) Investment Rumors Amid Speculation in Crypto Community

TRON (TRX) founder and Huobi chief advisor Justin Sun publicly responded to the latest allegations regarding #Bitcoin investments. Using his social media channels, he debunked reports claiming that he had taken a long position in Bitcoin at $69,000. This statement corresponded to a tweet from CryptoQuant CEO Ki Young Ju, which suggested that Sun initiated a large Bitcoin position using stUSDT as collateral.
In Ki Young Ju's tweet, it was stated that Sun had a Bitcoin long position of approximately $ 67,000, and these positions were supported by at least $ 420 million collateral. Young Ju highlighted the role played by high-yield stablecoin stUSDT in this transaction, raising questions about the legitimacy and source of these assets. This tweet prompted Sun to publicly respond to these speculations.

Although Sun has denied Bitcoin investment allegations, he has remained silent on separate reports of significant Ethereum purchases. According to Spot On Chain, Sun may have accumulated 362,751 #ETH , equivalent to approximately $1.11 billion, through various wallets as of February 8. This disclosure highlights Sun's active role in cryptocurrency markets and his broad investment strategies beyond Bitcoin.

The story is not limited to #Bitcoin . Sun's allegations of involvement in significant Ethereum purchases point to a diversified investment approach in the crypto space. Detailed blockchain data from reliable sources such as Spot On Chain points to a series of transactions that raised a significant amount of ETH, further cementing Sun's influence and strategic foresight in the crypto market. These actions reveal multifaceted tactics that highlight how high-profile investors are leveraging various digital assets.

Satoshi-Era Bitcoin Wallet Turns Its 400,179 Percent Profit Into This Trending Altcoin: Not Shiba Inu or Dogecoin.

The Satoshi-era Bitcoin whale reportedly made a significant profit of 400,179% on his Bitcoin (Bitcoin) holdings. The Satoshi-era wallet, which has resurfaced after being dormant for nearly 13 years, has become a trending topic in the crypto space. Following its massive success, the anonymous Satoshi-era Bitcoin whale invested a significant portion of his profits into this trending altcoin: ETFSwap (ETFS).

ETFSwap (ETFS) is a new Ethereum-based altcoin that is performing exceptionally well in the crypto market. Read on to learn more.
In a post published on the This price represents a staggering gain of 400.179%, a figure rarely seen in any investment market.
This development, which has been trending on many social media platforms, has since caused a lot of mixed reactions. Some enthusiasts believe that Bitcoin wallets are being hacked, as these cases are becoming more and more frequent. Others think that these investors only remember the opening sentences. But whatever the case, this is an astounding return on investment.

Following this notable gain, the Satoshi-era Bitcoin whale invested heavily in disruptive presale ETFSwap (ETFS) in an attempt to make even better profits. ETFSwap (ETFS) outperforms other popular altcoins such as Shiba Inu (SHIB) and Dogecoin (DOGE) due to its viability, dynamic characteristics, and relative resistance to market fluctuations.

Cryptocurrency market overview | 12 July

🔴 Market cap: $2.11 trillion (-1.41%)
🔴 BTC dominance: 53.44% (-0.08%)
⚡️ Fear and Greed Index: 40 (fear)

💫Compound (COMP) Jayson Hobby announced his resignation and launched a new DeFi protocol, Legendı, with Compound CTO Geoffery Hayes and Compound Vice President of Products Mykel Pereira.

🇺🇸US Producer Price Index (PPI) will be announced today at 15:30.
•Expectation: 0.1% •Previous: -0.2%

💫According to data, the amount of crypto money stolen through hacking increased by 110% in the first half of 2024 compared to 2023.

🇺🇸US Monthly Producer Price Index (PPI) announced:

•Disclosed: 0.2%
•Expectation: 0.1%
•Previous: -0.2%

🚨US Stock Exchanges Opened.

S&P500: +0.22%
Nasdaq: +0.16%
Dow Jones: +0.10%

BlackRock's IBIT Leads with $72.09 Million Raise, Spot Bitcoin ETFs See Strong Inflows.

BlackRock's IBIT ETF leads the way with a massive net inflow of $72.09 million. This strong performance reinforces investor confidence. It also shows the growing popularity of this ETF and its status as a major player in the cryptocurrency investment space, with a trading volume of $725.61 million on Wednesday.
Fidelity's FBTC ETF recorded significant inflows of $32.69 million, signaling strong investor interest. Bitwise's spot Bitcoin fund added $7.53 million in net inflows, reflecting the growing adoption and interest in Bitcoin-related investment vehicles. These inflows demonstrate the confidence institutional and individual investors have in digital assets.
Other notable contributions include ETFs from Ark Invest and 21Shares; In total, they generated additional inflows of $4.31 million. However, not all funds experienced positive inflows. Grayscale's GBTC fund experienced a remarkable net outflow of $37.69 million, indicating that some investors are reshuffling their positions. Six other funds, including VanEck's HODL fund, reported zero net flows on the same day.
On July 11, the total trading volume of spot Bitcoin funds in the United States was $1.31 billion. This figure is significantly lower than the $8 billion volume seen in March. Year-to-date, these ETFs have accumulated a combined net inflow of $15.5 billion, indicating a steady growth trend despite recent trading volume fluctuations.
Continued inflows, especially from major players such as BlackRock and Fidelity, underscore a positive outlook. Although some funds such as GBTC have experienced outflows, the general trend shows that interest and confidence in Bitcoin as an investment asset continues. As the market evolves, these ETFs will play a more important role in both individual and institutional portfolios, enabling wider adoption of cryptocurrencies.

These 5 altcoins are resisting Bitcoin (BTC)!

1- Ripple (XRP)
#XRP , which increased by 5 percent in the last 24 hours, ranked first on the list. The major coin, which experienced a lesser decline compared to other altcoins, attracted attention with its rapid recovery. XRP investors seem hopeful that the upward momentum will continue.

2- Tron (TRX)
#TRX , which is currently standing strong despite the market's retreat, has increased by 4.80 percent in the last 24 hours. TRX, which increased its price despite the decrease in network activities, almost winked at the bull season. With the activation of the TRC-20 network, TRX price may continue its rise.

3- Stellar (XLM)
#XLM , which came to the fore with the acceleration of XRP, increased by 4.10 percent in the last 24 hours. XLM, which draws a price structure in correlation with XRP, came on the scene after a long time. As long as the rise in XRP continues, expectations from XLM may increase.

4- Maker (MKR)
#MKR📈 , known for its price movements opposite to Bitcoin, did not surprise this time either. Despite testing BTC's support level, MKR turned its course upward and experienced a 3.80 percent increase in the last 24 hours. Short-term price movements of BTC may be decisive for MKR.

5- Cardano (ADA)
#ADA , which did not have a very effective rise season, became a safe haven in the downturns. The major coin, which remains weaker than most other altcoins, ranked fifth on the list with an increase of 2.90 percent in the last 24 hours.

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Important Bitcoin (BTC) Statements from VanEck CEO, Who Manages 89 Billion Dollars!

Bitcoin (BTC) has been trying to recover in recent days, having experienced a sharp correction to $53,500 due to sell-off pressure from Mt.Gox and the German government.
While investors who suffered huge losses with the last correction now expect an increase, analysts and officials generally say that this correction is healthy.
Speaking to CNBC, VanEck CEO said that the recent Bitcoin correction is perfectly normal and that the fundamentals and factors for BTC's rise still look strong.
Arguing that it is completely normal for BTC to experience corrections during the bull market, the famous CEO stated that BTC will rise by taking advantage of rising factors such as halving and FED's interest rate cut.
“Although the German government's sales and Mt. Although there has been recent selling pressure, including Gox refunds, this selling pressure is short-term and Bitcoin will rise in the long term.
Additionally, these corrections occur in every bull market and are extremely normal. These correction phases should be seen as buying opportunities. There were also purchases in the last correction. “At this point, there has been a noticeable increase in retail investor activity in spot #BTC ETFs.”
VanEck CEO recently emphasized that the appeal of other traditional safe haven currencies such as the Swiss franc, euro and yen has decreased due to various economic weaknesses seen around the world, and said that gold and Bitcoin have become attractive alternatives for investors seeking stability.

🧙‍♂️On July 11, spot Bitcoin ETFs recorded an inflow of $79 million.

•#Grayscale (GBTC) Bitcoin ETF experienced an outflow of $37 million.

•#Blackrock (IBIT) ETF experienced an inflow of $72 million.

•#Fidelity (FBTC) Bitcoin ETF saw inflows of $32 million.

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Germany took back millions of dollars worth of Bitcoin

does

The German government took back $141 million worth of Bitcoin in a remarkable operation. In the last transaction, 2442 Bitcoins were transferred to the state's digital wallet.

The details of this large-scale operation are remarkable. 903 Bitcoins (approximately $52.3 million) were withdrawn from the Kraken exchange. In addition, another 1529 Bitcoins ($88.6 million) were transferred from addresses whose source is not yet clear. 10 Bitcoins ($575 thousand) were purchased from the Bitstamp platform.

This move coincides with the German government's plan to dispose of 50 thousand Bitcoins seized from the pirated movie site Movie2K, which was closed in January. This strategy of the government became the target of criticism in some circles. "The government's decision to hastily sell Bitcoins may have negative consequences in the long term," said Bitcoin advocate and Bundestag member Joana Cotar.

Justin Sun is collecting Ethereum: Will altcoins take off?

SpotOnChain reported that a suspicious wallet of  TRON founder Justin Sun was buying Ethereum (ETH) dips.

SpotOnChain reported that a suspicious wallet from TRON founder Justin Sun was buying Ethereum (ETH) dips.

Justin Sun reportedly purchased 1,614 ETH at $3,097. Sun spent approximately 5 million USDT to make this purchase. This is a notable development for ETH becausei.

-SpotOnChain revealed the TRON founder's constant purchase of ETH. Allegedly, 362,751 ETH have been purchased since February 8. Three different budgets were allocated to purchase these coins at a daily level of 3,047. The estimated cost of these ETH purchases is approximately $1.11 billion.

It looks like Justin Sun isn't done with Ethereum yet. According to SpotOnChain, he recently deposited approximately 45 million USDT to crypto exchange Binance. This move suggests that he can use this amount of USDT to buy more Ethereum within days. These potential buys are expected to boost ETH

As mentioned above, significant purchases by market leaders like Sun can have a positive impact on a coin. In the case of Ethereum, Sun already has a large asset because it can buy more coins. This could  have a positive impact on the ETH price and the broader crypto market in the long run.

At the time of writing this article, Ethereum was trading around $3,126.54, up 1.5 percent in the last day. Although this is a minor uptrend, it is still a positive move as it appears that ETH is trying to start a recovery.

JPMorgan's August Forecast for Cryptocurrencies: The Wind Will Reverse!

Banking giant JPMorgan shared a report for August for the cryptocurrency market.

In their current report, JPMorgan analysts led by Nikolaos Panigirtzoglou shared that the cryptocurrency market will recover starting from August.

Analysts predicted that the declines and liquidity clearings would gradually end as of this month.  The bank also lowered its year-to-date crypto net flow forecast to $8 billion from $12 billion previously.

Focusing on the production cost of Bitcoin (BTC) or how high it is compared to the price of gold, the bank noted that it is skeptical that the previous estimate of $ 12 billion will continue for the rest of the year.

The number of Bitcoins on exchanges is falling

While it was stated that the number of Bitcoins in the exchanges decreased last month and this month, the climate of fear created by Mt.Gox and the German government was cited as the reason for this.

The decline in the amount of Bitcoin on exchanges was interpreted as a positive factor for recovery:
The decrease in estimated net flows is largely due to the decline in Bitcoin reserves on exchanges over the past month.

💥US Annual CPI announced:
•Announced: 3.0% •Previous: 3.3% •Expected: 3.1%

💥US Monthly CPI announced:
•Announced: -0.1% •Previous 0.0% •Expected: 0.1%

🇺🇸US June annual inflation was 3.0%.

🇺🇸US Unemployment Benefit Applications have been announced.

•Declared: 222K
•Expectation: 236K
•Previous: 238K

💫Following the CPI data, the probability of interest rate reduction in September increased from 70% to 85%.

🚨 JPMorgan says the crypto market will recover in August.

🚨 SEC withdraws Paxos investigation and rules that BUSD stablecoin is not a security.

🚨Reminder:

🇺🇲US Consumer Price Index (CPI) will be announced today at 15:30.
•Expectation: 3.1% •Previous: 3.3%

🇺🇲US Unemployment Benefit Applications will be announced today at 15:30.
•Expected: 236K •Previous: 238K

New Delist Statement from Binance!

A new delist announcement came from the cryptocurrency exchange Binance. Binance announced that it will delist 3 trading pairs. Binance made the following statement regarding the issue:
“To protect users and maintain a high-quality trading market, Binance periodically reviews all listed spot trading pairs and may delist selected spot trading pairs due to many factors such as poor liquidity and trading volume.

The removed trading pairs are as follows:

ALGO/ETH, DYM/FDUSD, SXP/BNB

“Once delisted, the value of the token will no longer be displayed in your wallet. To view your holdings after transactions are completed, please make sure you do not select the “Hide Small Balances” option in all your wallets.”

BNB Zincir Füzyonuna hazır olmak için varlıklarınızı taşımak için yalnızca 3 gününüz kaldı!

BEP2 varlıkları ve stake edilmiş BNB dahil tüm varlıkların Beacon Zincirinden BNB Akıllı Zincirine taşınması gerekiyor, hazırlanmak için ne yapmanız gerektiğini aşağıda görün 👇

🔶 Stacked BNB:

BNB'yi stake ettiyseniz bunun taşınması gerekir. 14 Temmuz'dan önce taşınmazsa otomatik olarak kaldırılacak ve 2 hafta içinde hesabınıza iade edilecektir.

Daha sonra şu adreste yeni delegeler bulabilirsiniz:
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doğrudan veya aşağıdaki gibi LSDFi seçeneklerini değerlendirin:
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🔶 BNB ve diğer BEP2 varlıkları:

Bunların ayrıca Beacon Chain'den BNB Smart Chain'e taşınması gerekecek. Varlıklar taşınmazsa 15 Ağustos'tan sonra taşınamaz hale gelecektir.

Varlık taşıma işleminizi henüz tamamlamadıysanız lütfen bu işlemi 14 Temmuz'dan önce tamamlayın.

İlgili tüm kılavuzlar için aşağıdaki bağlantıya bakın 👇
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