The 11th Hashtag Campaign #GravityAlphaMainnet Introduction:
This campaign is supported by @Gravity

Gravity — a Layer 1 omnichain smart contract platform designed to deliver a more efficient, scalable, and secure mechanism for managing complex cross-chain interactions with minimal friction.
With this integrated and streamlined solution, Gravity is poised to elevate interactions for users and developers within Web3 while supporting the complexity and scalability needed for mass adoption.
G is the native token on Gravity and the utility token for both Gravity and the Galxe ecosystem. G powers transactions as the gas token and will soon secure the network through staking. As the primary utility token across both ecosystems, G drives governance decisions, incentivizes growth, and facilitates payments.
Beyond migrating the existing utilities from GAL, G will expand its range of applications to serve all users within our ecosystems. Here are the key functionalities of G:
Staking: Stake G to actively participate in governance, secure the network, and contribute to the long-term sustainability of both the Gravity and Galxe ecosystems. Additionally, G stakers gain convenient access to exclusive rewards from applications built by Galxe.
Governance: G DAO is governed by G holders. Acting as a transparent, secure, and decentralized framework, G DAO fosters unity and progress among its members.
Transacting: As the native gas token of Gravity Chain, G is used for executing and paying for all onchain transactions.
Payments: As the utility token in the Galxe ecosystem, G is used to pay fees for applications built by Galxe, including Galxe Quest, Galxe Passport, Galxe Score, Alva, and more.

Other Ongoing Event:
Binance Adds G on Simple Earn Locked Products

Step 1:
Follow @Gravity on Binance Square.
Post content on the square for a chance to share the rewards. We're looking forward to hearing from you about your insights and thoughts on the future of the Gravity ecosystem.
Your post must cover the token tag $G and the hashtag #GravityAlphaMainnet and include your views on:
What are the benefits and rights of G holders?What are the future prospects for the Gravity chain?What is the future of Galxe powered by Gravity?

Step 2:
Share your Square post to your social media (X) and @GravityChain, using the hashtag #GravityAlphaMainnet , and encourage your social media followers to comment/like/share the post.

Event Rules:

After the event, we will select 50 high-quality posts with the hashtag  #GravityAlphaMainnet . To be eligible, posts must have at least 20 interactions (likes, shares, or comments) and at least 200 characters. Winners of this competition will share a 250,000 $G prize pool. The more views you have, the more G you’ll get.  
25 winners with over 8,000 views will each receive 3000 G.15 winners with over 12,000 views will each receive 5000 G.10 winners with over 20,000 views will each receive 10000 G.

All content must be released by Sep 03, 2024 12:00 to be eligible for rewards.
Only content related to the project essay requirements will be selected, and other non-related content will not be eligible for reward.

Terms & Conditions
This promotion may not be available in your region.Only content with  #GravityAlphaMainnet related content (including posts and articles) that received at least 20 interactions (i.e., the total number of emojis, comments, or shares) during the campaign period are eligible for qualifying content.Any abuse of hashtags and posting of irrelevant content will result in a disqualification.Only original new content is eligible. Previously submitted entries are not eligible.You can post multiple different high quality content to increase your chances of winning.We will release the rewards to your account within 20 working days, and Users may check their rewards via "Funding" > "Balances".All eligible users will be notified via a push notification under Creator Center > Square Assistant.Binance reserves the right to disqualify any account that violates Binance Square's Community Guidelines or Terms and Conditions.Binance reserves the right to modify or change these terms and conditions at any time at its sole discretion without prior notice, including, but not limited to, canceling, extending, terminating, or suspending this Promotion, the eligibility terms and criteria, the selection and number of winners, and the timing of any action to be taken, and all participants shall be bound by these amendments. Binance reserves the right of final interpretation of this event.

Top 10 new perfect Crypto project to invest and Why you should invest 👇

### **1. Aptos (APT)**
- **Coin Value**: $6.50
- **Market Cap**: $1.4 billion
- **Why Invest**: Aptos is a Layer 1 blockchain focusing on scalability and security through parallel execution, which allows for faster and cheaper transactions. With a strong team and backing, it has the potential to be a leader in the Layer 1 space as blockchain adoption grows.

#*2. Arbitrum (ARB)**
- **Coin Value**: $1.03
- **Market Cap**: $1.3 billion
- **Why Invest**: Arbitrum is a Layer 2 solution for Ethereum, designed to reduce transaction fees and increase throughput. As a key player in the Ethereum ecosystem, Arbitrum is expected to grow with the increasing demand for scalable and cost-effective Ethereum transactions.

### **3. Sui (SUI)**
- **Coin Value**: $0.60
- **Market Cap**: $428 million
- **Why Invest**: Sui is a Layer 1 blockchain aimed at providing high throughput and a seamless developer experience. Its focus on user and developer-friendly design makes it a strong candidate for adoption in the blockchain space, offering significant growth potential.

### **4. Worldcoin (WLD)**
- **Coin Value**: $1.60
- **Market Cap**: $209 million
- **Why Invest**: Worldcoin, launched by OpenAI's Sam Altman, aims to provide universal basic income through a digital identity system. Its ambitious mission and strong leadership make it a high-risk, high-reward investment with the potential for massive global impact.

### **5. Stargate Finance (STG)**
- **Coin Value**: $0.50
- **Market Cap**: $95 million
- **Why Invest**: Stargate Finance is a cross-chain protocol designed to enable seamless transfers between blockchain networks, enhancing interoperability. As DeFi continues to expand, Stargate’s ability to facilitate cross-chain transactions could drive significant adoption and value.

### **6. Radiant Capital (RDNT)**
- **Coin Value**: $0.20
- **Market Cap**: $90 million
- **Why Invest**: Radiant Capital focuses on cross-chain lending and borrowing, offering users competitive rates across multiple blockchains. Its innovative approach to decentralized finance (DeFi) positions it well to capture a growing share of the DeFi market.

### **7. Frax Share (FXS)**
- **Coin Value**: $6.00
- **Market Cap**: $430 million
- **Why Invest**: Frax Share is a part of the Frax protocol, the first fractional-algorithmic stablecoin system. It governs the ecosystem and plays a critical role in maintaining stability, making it a solid investment in the stablecoin and DeFi space.

### **8. Render Token (RNDR)**
- **Coin Value**: $1.70
- **Market Cap**: $635 million
- **Why Invest**: Render Token provides decentralized GPU rendering solutions, which are increasingly in demand for creative industries. As industries like gaming, film, and virtual reality grow, Render Token’s scalable computing power solutions are likely to see significant adoption.

### **9. Optimism (OP)**
- **Coin Value**: $1.50
- **Market Cap**: $1.1 billion
- **Why Invest**: Optimism is a Layer 2 scaling solution for Ethereum, utilizing optimistic rollups to improve transaction speed and lower costs. Its role in enhancing the Ethereum network’s usability makes it a strong investment as the demand for efficient blockchain solutions grows.

### **10. Immutable X (IMX)**
- **Coin Value**: $0.65
- **Market Cap**: $380 million
- **Why Invest**: Immutable X is a Layer 2 solution for NFTs on Ethereum, offering zero gas fees and instant transactions. With the NFT market expanding, Immutable X’s focus on improving the NFT ecosystem positions it for growth, particularly as digital assets become more mainstream.

### **General Investment Potential:**
- **Innovation**: Each of these projects brings something new and valuable to the blockchain space, from scalability and security to DeFi and NFTs.
- **Early-Stage Growth**: Many of these projects are still in their early stages, offering the potential for significant growth as they gain adoption.
- **Strategic Diversification**: Investing in a range of projects across different areas of blockchain technology can provide a balanced exposure to the industry's growth.

However, always remember that cryptocurrency investments are speculative and carry risks. It’s important to research thoroughly and consider your risk tolerance before investing. #BecomeCreator

U.S. spot Ethereum ETFs experienced a significant setback on Thursday, with $39.21 million in net outflows, ending a three-day streak of positive flows. This downturn was primarily driven by substantial withdrawals from Grayscale’s Ethereum Trust (ETHE), which saw $42.52 million leaving the fund, according to data from SosoValue. The sudden shift in investor sentiment marks a notable change in the recent trend of inflows into Ethereum-based exchange-traded funds (ETFs).

Grayscale’s ETHE Leads the Outflows

The Grayscale Ethereum Trust (ETHE) bore the brunt of Thursday’s outflows, with $42.52 million being withdrawn. This significant outflow from Grayscale’s ETHE represents a stark contrast to the previous days, where the fund had seen relatively stable inflows. According to SosoValue, this was the only spot Ethereum ETF to report outflows on Thursday, highlighting the fund’s vulnerability to market fluctuations.

One of the industry analysts remarked, “The continued outflows from Grayscale’s ETHE suggest that investors might be reassessing their positions in Ethereum, especially in light of recent market volatility.”

 

Ethereum ETFs

Meanwhile, the Grayscale Ethereum Mini Trust (ETH), the second-largest spot Ethereum ETF by net assets, reported no net flows on Thursday. This stagnation followed a moderate $2.26 million net inflow into the fund the previous day, indicating a pause in investor activity rather than a complete withdrawal from the fund.

Minor Inflows for Fidelity and BlackRock’s Ethereum ETFs

In contrast to Grayscale’s experience, Fidelity and BlackRock’s Ethereum ETFs managed to attract modest inflows on Thursday. Fidelity’s FETH recorded net inflows of $2.54 million, while BlackRock’s ETHA saw $770,350 flowing into the fund. Although these figures are not as substantial as those of previous days, they reflect ongoing investor interest in Ethereum, despite the broader trend of outflows.

These inflows, although minor, indicate a degree of resilience among investors in the face of a challenging market environment. A representative from BlackRock noted, “Despite the volatility, we continue to see steady interest in our Ethereum products, which suggests that investors are still committed to their long-term strategies.”

 

Ethereum ETFs

However, the remaining Ethereum ETFs reported zero flows, underscoring a general hesitance among investors to commit new funds amidst the current market uncertainty. The total daily volume of the nine Ethereum ETFs reached $240.58 million on Thursday, significantly higher than $155.91 million on Wednesday and $190.76 million on Tuesday, showing that while there were outflows, trading activity remained robust.

Spot Bitcoin ETFs Show Mild Inflows Amid Ethereum’s Struggles

While Ethereum ETFs faced challenges, spot Bitcoin ETFs in the U.S. recorded moderate inflows of $11.11 million on Thursday, following net outflows of $81.36 million the previous day. This contrast between Ethereum and Bitcoin ETFs may reflect shifting investor sentiment within the broader cryptocurrency market.

Among the Bitcoin ETFs, Fidelity’s FBTC led the inflows with $16.25 million. The Grayscale Bitcoin Trust (GBTC), on the other hand, extended its outflow streak to the 11th consecutive day, with $25.03 million leaving the fund. The ongoing outflows from GBTC mirror the trend observed with Grayscale’s ETHE, indicating that investors may be adopting a more cautious approach toward both Ethereum and Bitcoin in the current market environment.

Despite these outflows, the total trading volume of the spot Bitcoin ETFs amounted to $1.79 billion on Thursday, compared to $1.3 billion on Wednesday. This significant increase in trading volume suggests that, while outflows were recorded, there is still considerable investor engagement with Bitcoin ETFs.

Conclusion: A Shift in Investor Sentiment?

The $39.21 million in net outflows from U.S. spot Ethereum ETFs on Thursday marks a significant reversal in the recent trend of positive flows. Grayscale’s ETHE, in particular, has been heavily impacted, with investors pulling out $42.52 million, indicating potential concerns over the near-term prospects of Ethereum.

While Fidelity and BlackRock’s spot Ethereum ETFs managed to attract some inflows, the broader trend suggests a shift in investor sentiment, possibly driven by market volatility. In contrast, spot Bitcoin ETFs saw mild inflows, signaling that investors may be more confident in Bitcoin at this time.

As the cryptocurrency market continues to evolve, these trends will be closely watched by investors and analysts alike, as they may offer insights into broader market dynamics and investor behavior. Keep following TheBITJournal and keep an eye on the latest updates of Spot Ethereum ETFs.