Hello everyone, I am Ali, from Wujie Club. Wujie Club is a crypto community club focusing on primary projects, secondary transactions, airdrop tutorials and on-chain capture. The club provides market analysis, trading strategies, the latest airdrop information and project investment opportunities, and is committed to helping club members obtain comprehensive information in the Crypto field.
1
Bitcoin is rising rapidly, with a target of $72,000
The Bitcoin market is currently showing strong bullish momentum, with its futures premium reaching a new high in five weeks, highlighting the vitality of the market. On July 22, the price of Bitcoin soared to a nearly 40-day high, hitting $68,518 during the session.
This significant increase is mainly attributed to investors’ optimistic expectations of possible future interest rate cuts by the Federal Reserve, positive news that the German government has stopped selling Bitcoin, and positive changes in the U.S. cryptocurrency regulatory environment. Positive sentiment in the futures market also further confirmed this bullish trend, with Bitcoin futures premium climbing to a five-week high, which is widely expected to push Bitcoin prices back to $72,000. In addition, President Biden's withdrawal from the re-election campaign has increased the possibility of Trump winning the election, and Trump's friendly attitude towards cryptocurrency has also brought optimistic expectations to the market.
Although investors generally expect the Federal Reserve to keep interest rates unchanged on July 31, market expectations for a rate cut before the end of the year have increased significantly. According to the latest data from the CME FedWatch tool, market forecasts that the probability of the Federal Reserve cutting interest rates before the December 18 meeting has increased to 47%, a significant increase from 20.5% a month ago.
At the same time, China, the world's second largest economy, has also faced economic uncertainty recently. The People's Bank of China's move to lower the reverse repurchase rate was interpreted by the market as a "passive" economic stimulus, which further exacerbated the uncertainty of the global economy, and cryptocurrencies such as Bitcoin became one of them.
However, market sentiment is optimistic in the short term. Indicators such as Bitcoin futures premium and options skewness show positive market sentiment, which increases the possibility of Bitcoin price retesting the $72,000 level. Factors driving this trend include geopolitical uncertainty, confidence in the central bank's future economic policies, and positive expectations for the regulatory environment for cryptocurrencies.
2
SEC green-lights ETH, market optimistic about ETH prospects
The U.S. Securities and Exchange Commission (SEC) officially approved the listing and trading applications of several companies for Ethereum spot ETFs on Monday, marking the official entry of Ethereum spot ETFs into the market. Well-known companies including BlackRock, Fidelity, Bitwise, 21Shares, VanEck, Invesco Galaxy, Franklin and Grayscale have all been approved. Among them, Grayscale's ETHE has attracted much attention due to its unique market position and high fees (2.5%). Despite the high fees, the market generally expects that the selling pressure of ETHE will not be as severe as GBTC, mainly due to ETHE's high market recognition, trading activity and the rising trend of Ethereum prices.
The ETHE Trust has accumulated a large amount of Ethereum assets since 2017 and currently holds approximately 2.63 million ETH. Compared with GBTC, ETHE shows higher market potential and attractiveness in many aspects. First, ETHE has greater transparency and liquidity, which makes it more acceptable to institutional investors such as mutual fund managers and pension funds. Secondly, ETHE has gone through a long period of market testing before converting to ETF and accumulated a large investor base, which has provided strong support for its market performance after listing. Although ETHE's fees are relatively high, Grayscale has mitigated this through measures such as the introduction of the low-fee Grayscale Mini Trust ETF. In addition, ETHE is significantly different from GBTC in terms of trading volume and premium rate. Its weekly trading volume exceeds 400 million US dollars, and the premium rate has shrunk to a lower level, further enhancing investor confidence in ETHE.
Although ETHE's listing may face certain challenges and tests, the market is generally optimistic about its future development prospects.
Today’s recommendations are REZ, METIS, STRK, and ETHFI.
1
REZ
REZ coin is the native utility token and governance token issued by the Renzo platform. The project aims to leverage the security and resources of the Ethereum network to provide users with a new and more efficient DeFi (decentralized finance) experience. REZ coin provides token holders with the opportunity to participate in the governance of the Renzo protocol, allowing them to vote on changes, updates and new features of the protocol, thereby influencing the operation of the platform and strengthening the decentralized management structure. As a project on Binance Launchpool, it has received certain attention and recognition from the market, and its future development potential and market acceptance are worth looking forward to. The current price is 0.0751 USD.
2
PUT
METIS is a token based on the Ethereum public chain. It aims to facilitate developers, project owners and community leaders to build applications and communities through the creation, management and development of its decentralized self-organizing company (DAC). METIS is the token of the MetisDAO project. Metis is an open framework built on the Layer2 protocol to support the Layer2 infrastructure of the Web 3.0 economy. The return on investment and market performance of METIS show that it has high growth potential. The current price is $51.36.
3
STRK
STRK is the native token of Starknet, an L2 project that is a benchmark for ARB. Its main function is to serve as a fee payment token on Starknet. Starknet is a permissionless decentralized ZK-Rollup that runs as an L2 network on Ethereum, meeting the growing demand for scalability and privacy in blockchain applications. STRK provides infrastructure for decentralized finance (DeFi) and non-fungible tokens (NFT). As the dApp market continues to expand, the demand for STRK as a means of settlement will continue to increase. The current price is $0.629.
4
ETHFI
ETHFI is the native utility and governance token of the Ether.Fi protocol, a new infrastructure-based staking protocol on Ethereum. ETHFI is the native token of the Ether.Fi project, which allows participants to retain control of their keys when staking on behalf of others. Deposits to Ether.Fi are automatically re-staked with Eigenlayer, which uses staked ETH to support external systems (such as rollups, oracles), build an economic security layer, and increase the returns of ETH stakers. The current price of ETHFI is lower than the historical high, but it has certain investment value. As Ethereum 2.0 advances and the staking market matures, the demand for liquid staking solutions will increase, which may increase the intrinsic value and market demand of ETHFI tokens. The current price is $2.732.
Review of club recommendations
1.【PEPE，WIF】
When the market rebounds, meme coins are always the fastest to take action. After in-depth analysis and research, we recommend entering the market at a price point of 0.0000059, and the performance of Pepe tokens has exceeded our expectations, rising to a maximum of 0.00001208, an increase of 40.13%! The performance of Pepe tokens exceeded everyone's expectations.
WIF is most likely to become Sol's Golden Dog meme. The club recommends a layout around 1.7. The highest was around 2.23, an increase of 31.7%.
2.【RAY】
RAY is also a very good target. At the beginning, the club found this target because it only has spot but no contracts on Binance. Generally speaking, this kind of currency is easier to be pulled up. You can also look for currencies on Binance that only have spot but no contracts and pay more attention to them. Secondly, RAY itself is also a DEX on Solana. Recently, the meme golden dogs on Solana have frequently exploded, which has increased the usage rate of these DEXs, and it is also a big benefit for its tokens. As Solana strengthens, its ecological projects are also worthy of attention. The RAY club recommended that everyone build a position and ambush at 1.5, and the highest price rose to 2.5239, an increase of nearly 70%.
Unbounded Club is a crypto community club focusing on primary projects, secondary transactions, airdrop tutorials and on-chain capture. The club provides market analysis, trading strategies, the latest airdrop information and project investment opportunities, and is committed to helping club members obtain comprehensive information in the Crypto field.
Thank you for reading this. A-li is with you. I wish you a happy life. Good morning, good afternoon, good night, and see you next time. #ETH_ETFs_Trading_Today #Bitcoin_Coneference_2024 #BinanceHODLerBANANA #ETHFI🔥🔥🔥 #STRK✈️
