Cryptocurrency daily summary:
Hamster Kombat reveals two airdrop plans for the game
Iggy Azalea’s MOTHER Token Rises More Than 50%
Gasp will be airdropped to MGX testnet token holders and the community
Let’s first look at the trading activities of Bitcoin ETFs. According to Farside Investor data, on July 11, Grayscale Bitcoin Spot ETF (GBTC) saw an outflow of US$37.7 million; at the same time, Fidelity Bitcoin Spot ETF (FBTC) saw an inflow of US$32.7 million, Bitwise Bitcoin Spot ETF (BITB) saw an inflow of US$7.5 million, and ARK 21Shares Bitcoin Spot ETF (ARKB) saw an inflow of US$4.3 million.
Hamster Kombat founder reveals two airdrop plans for the game
Hamster Kombat claims to have over 250 million users, making it the king of Telegram-based "clicker" games. However, little information has been provided about its origins and founders. In a recent interview, the founder of Hamster Kombat shared the origins of the game and revealed future development plans.
Unlike other cryptocurrency-based games, Hamster Kombat and Notcoin are very simple to play, requiring only downloading the Telegram messaging app to start the game. Millions of users are already participating, looking forward to the in-game rewards being able to be monetized eventually.
The design of this game was inspired by the success of Notcoin and the popularity of social media games in the 2010s. The founders also mentioned that they were inspired by the GameStop and Reddit stories, which showed the influence of retail investors on Wall Street. The founder said: "Hamster Kombat is not just a game, it is a global family, and we believe in the long-term power of this community."
The first airdrop for Hamster Kombat will take place this month, and the founders say the future of the game is promising. They have already planned a second airdrop and a second season of content, which will be released within the next two years.
While they have chosen to remain anonymous, the Hamster Kombat team describes themselves as having “extensive experience in both gaming and blockchain development” and have been active in the crypto space since 2013.
Iggy Azalea’s MOTHER Token Up Over 50% After Partnering with DWF Labs
Iggy Azalea launched the MOTHER token in late May, which initially attracted little attention. However, the token’s price surged on Thursday after cryptocurrency market maker DWF Labs announced a partnership with her.
Last month, Iggy Azalea said MOTHER token holders might soon be able to buy phones and telecom plans from her planned telecom company.
The cross-chain protocol Gasp will airdrop 3% GASP to MGX testnet token holders, and another 4% will be used for early community incentives
Gasp (formerly Mangata Finance), a cross-chain exchange protocol based on EigenLayer, is launching a cross-chain communication platform designed to provide large amounts of funds and high-speed transactions for enterprises and retail investors. As a native cross-rollup protocol, Gasp aims to facilitate gas-free, MEV-protected and fast cross-rollup swaps.
In April, Gasp announced the completion of a $5 million private placement financing, with participation from Polychain Capital, CMS Holdings and others. This round of financing brought Gasp's FDV to $80 million.
The Gasp platform includes cross-chain liquidity pools and vaults, EigenLayer security, gas-free transactions, a ferry mechanism for instant fund transfers, and MEV protection to prevent front-running and sandwich attacks.
The official recently announced that it would airdrop 3% of GASP to MGX testnet-era holders. It is currently exploring how to transfer LP providers from Mangata to GASP and reserve another 4% of the GASP supply for early community building incentives.
Market analysis: CPI data is positive, but market sentiment remains sluggish
Market Trends
BTC
After the release of the US CPI data last night, BTC briefly surged above $59,500, but then fell back to around $56,800. The inflow of spot ETFs has been greatly reduced, showing the market's cautious attitude towards the current price.
ETH
After a short-term surge above $3,200, it fell back and is currently consolidating around $3,080. The market seems to be waiting for further signals to determine the next move.
Data indicators
-AHR999 Index: 0.69, suitable for fixed investment. AHR999 index below 1 is generally considered to be relatively undervalued and suitable for fixed investment by long-term investors.
-Fear and Greed Index: 25, market sentiment is still in a state of fear. A low Fear and Greed Index usually means that the market is at a relative low point and may be an opportunity for long-term investors.
Macroeconomic factors
-CPI data: The CPI data released last night was better than expected, and market expectations of interest rate cuts have strengthened. This may be a positive for the cryptocurrency market, as a low interest rate environment is usually beneficial to risky assets.
- Performance of US stocks: Despite the positive CPI data, US technology leaders generally fell, with the Nasdaq index falling nearly 2%. Some believe that the plunge in technology stocks may lead to capital outflows and transfers to other risky assets such as cryptocurrencies.
Market Hotspots
1. Meme section
-MOTHER: After a short-term surge of 50%, it fell back. According to community news, MOTHER has reached a cooperation with DWF Labs, a market maker known for its aggressive style. This cooperation may bring more market liquidity and attention to MOTHER.
-MAGA: intraday fluctuations exceeded 15%. US presidential candidate Trump will speak at the Bitcoin Conference on the 27th of this month, and related sectors may have opportunities for capital speculation before and after the conference.
2. New Coin Section
-MOCA: It went online at 18:00 yesterday afternoon and has been rising all the way. The current price is $0.115. MOCA is the underlying token of the Moca Network, which is an on-chain DID protocol incubated by Animoca Brands. MOCA's current market value is $140 million, and its last round of financing valuation was $250 million. The current price has actually broken the issue price.
Summarize
The current market is in a relatively turbulent state. BTC and ETH fell back after a brief rise, indicating that market sentiment remains cautious. Macroeconomic data is better than expected, but the decline in US stocks may cause some funds to flow into the crypto market, providing short-term support. The Meme sector is still worth paying attention to, especially the upcoming Bitcoin conference and related news may trigger market fluctuations.
For investors, the current fear and greed index and AHR999 index show that the market may be at a relative low point, which is suitable for fixed investment and long-term layout.
Macro: Inflation data eased, large technology stocks fell; the yen fluctuated repeatedly due to intervention, and Asian markets are expected to
On July 11, the U.S. Department of Labor reported that the consumer price index unexpectedly fell in June, with the smallest annual increase in a year. The news increased the likelihood that the Federal Reserve would cut interest rates in September. However, the stock market fell, with the Dow Jones closing slightly higher.
Despite easing inflation data, investors have moved out of large technology stocks and into smaller company stocks, causing share prices of companies such as Tesla, Nvidia and Apple to fall sharply.
The three major indexes: S&P 500 fell 0.88%; Nasdaq fell 1.95%; Dow Jones rose 0.08%
Microsoft and Amazon both fell more than 2%, while Meta Platforms fell about 4%. Tesla shares plunged 8.4%, its biggest one-day drop since January, as it delayed the launch of its self-driving taxis. Apple shares fell 2.3%, even though Bank of America Global Markets raised its price target for Apple, predicting strong iPhone sales due to new AI features.
On July 12, Asian markets were generally boosted by expectations of rate cuts. It is worth noting that the yen rose and fell repeatedly in volatile trading, reflecting investors' uneasiness. Earlier, there were rumors that the Japanese government took intervention measures to support the yen after the US inflation report was lower than expected.
The dollar fell 0.05% against the yen to 158.79 yen. In early Asian trading on Friday, the dollar rose more than 0.3% against the yen to an intraday high of 159.45 yen, and then fell 0.7% to a low of 157.75 yen. The euro rose 0.02% against the yen; the pound rose 0.1% against the yen.
In commodities, oil prices rose in early Asian trading on Friday as strong summer demand and signs of easing inflationary pressures in the United States boosted investor confidence. Brent crude futures rose 0.4% to $85.74 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 0.56% to $83.08 a barrel.
Gold prices fell 0.07% to $2,413 per ounce.
