🆕24h Crypto Market Overview

⏰Wednesday, August 21, 2024

♨️Overview:

Bitcoin had a sideways trading session, DOM decreased slightly but most Altcoins remained in place. The entire market was almost unchanged as Wall Street waited for the Fed's minutes. Yesterday, the market witnessed a positive cash flow of $62M from BTC ETF funds. ETH still witnessed negative cash flow as Grayscale continued to be the strongest seller despite the selling pressure decreasing. More generally, Graycale has sold nearly $2.5B since ETH ETF was allowed to trade.

Recent macroeconomic data shows that the FED is unlikely to cut interest rates by 50 basis points in September. According to CME, the rate of the FED cutting interest rates by 0.25% is 75%.

♨️ETF Updating (20/08/24):

💰Bitcoin ETF Spot: 🔴$-19.3M 

🔹Etherium ETF Spot: 🔴-33.3M

🎯Weekly Highlights:

▪️Wednesday: Release of the minutes of the July FED FOMC meeting.

▪️Thursday: Initial jobless claims data

▪️Friday: Fed Chairman Jerome Powell's speech at the Jackson Hole conference

▪️Italy's 2nd oldest and largest bank Banca opens crypto trading service to 1.3M customers.

❇️Top Gainers/Losers:

🟢$BTT    17%         🔴 $SUI     4%

🟢$BRETT   16%        🔴 $OM     4%

🟢$BNX   13%     🔴 $FET    3%

🆕Hot News:

- Tether mints another $2B in less than 1 day👉WhaleAlert

- Binance introduces Dogs (DOGS) as its 57th Binance Launchpool project👉Binance

- YeagerAI raises $7.5M led by North Island Ventures👉TheBlock

- Paradigm leads $7.5M seed round for Sorella Labs to solve Ethereum's MEV problem👉ThebLock