July 2024

Which Digital Asset Led the Charge?

July 23, 2024 boss

The global crypto investment market has witnessed a significant influx of capital, with recent reports indicating a continued positive trend in inflows. According to the latest data from CoinShares, digital asset investment products have seen an additional $1.35 billion in net inflows last week. This recent injection of funds has brought the total for the current positive streak to $3.2 billion. The fact that money has been flowing to this extent is a testament to the amount of steam behind recent market sentiment and confidence among investors regarding cryptocurrencies. According…

Ethereum ETFs get final approval to trade in the US

July 23, 2024

The U.S. SEC has granted the final go-ahead for the first spot ETH ETFs in the United States. Trading is set to begin tomorrow, July 23. Today, July 22, the U.S. Securities and Exchange Commission accepted the securities filings of several spot Ethereum (ETH) exchange-traded funds, clearing them for trading starting on Tuesday, as scheduled. The SEC approved ETH ETF products from a total of eight issuers, including asset management giants Fidelity, Blackrock and VanEck, as well as 21Shares, Bitwise and others. The SEC first approved applications for the above…

Trump’s Claims About El Salvador and President Bukele Debunked

July 23, 2024

Former U.S. President Donald Trump stated that El Salvador’s 70% drop in murders was due to criminals being sent to the U.S. However, PBS fact-checked and found this claim false, attributing the decline to Salvadoran President Nayib Bukele’s anti-crime measures. El Salvador’s prison population has surged, contradicting Trump’s statement. Notable bitcoin proponents like Max Keiser […] Source CryptoX Portal

U.S. House Passes Crypto Illicit Finance Bill That's Likely to be Rebuffed in Senate

July 22, 2024

The U.S. House of Representatives has approved another piece of cryptocurrency legislation with a routine voice vote, though the bill to set up a government working group to assess how to keep bad actors from using digital assets isn’t likely to become a law as-is. Source

Ether ETFs seem set to launch on Tuesday, six months after bitcoin funds’ debut

July 22, 2024 boss

Representation of Ethereum, with its native cryptocurrency ether. Dado Ruvic | Reuters The Securities and Exchange Commission appears to have given the green light for exchange traded funds that hold ether, the world’s second-largest cryptocurrency. Trading is expected to begin as soon as Tuesday. Several fund issuers submitted additional registration statements on Monday afternoon, and exchanges have given notice that the funds will trade on Tuesday, indicating that the SEC has signed off on the funds. The regulator did not immediately respond to a request for comment from CNBC on…

Is the Eth ETF launch a “sell the news” scenario?

July 22, 2024

Spot Ethereum Exchange-Traded Funds are set to debut on July 23, following the SEC’s rule change over two months ago. According to a report by Kaiko, the initial inflows to these Exchange-Traded Funds (ETFs) will most likely affect Ethereum’s (ETH) price. However, whether the effect will be positive or negative is still up for grabs. “The launch of the futures based ETH ETFs in the US late last year was met with underwhelming demand, said Will Cai, head of indices at Kaiko. “All eyes are on the spot ETFs’ launch…

Polygon Network Active Addresses Just Hit A New Yearly High, But Why Is MATIC Price Down?

July 22, 2024 boss

Polygon (MATIC) appears to be underperforming compared to the broader market, where most of the attention is directed toward other major cryptocurrencies with larger market caps. Despite this subdued price movement, the Polygon network recently experienced a significant surge in activity, reaching its highest levels in over a year. This notable increase in activity is largely attributed to recent announcements concerning the migration of Polygon’s MATIC token to the new POL tokens. Polygon Network Activity Hits Yearly High According to on-chain data from Santiment, the participation of addresses on the…

Ether (ETH) ETFs Approved by SEC, Bringing Popular Funds to Second-Largest Cryptocurrency

July 22, 2024

The approval and beginning of trading of the spot bitcoin ETFs in January, which became the most successful launch in the history of exchange-traded products in terms of the speed of money rushing into them, pushed the price of the largest cryptocurrency up to new all-time highs after surging more than 58% within just two months. Source

Ether (ETH) ETFs Could See Underwhelming Demand, Wintermute and Kaiko Predict

July 22, 2024

Wintermute, a major market maker, sees ether ETFs collecting $4 billion, at most, of inflows from investors over the next year. That’s below the $4.5 billion to $6.5 billion expected by most analysts – and that latter number is already roughly 62% less than the $17 billion that bitcoin ETFs have so far collected since they began trading in the U.S. six months ago. Source

Ethereum Retraces: Here’s Why ETH Bulls Must Decisively Break Above $3,500

July 22, 2024 boss

Ethereum is firm when writing, rapidly rising after slipping to around $2,800 earlier this month. As of writing, the second most valuable coin is up by over $24% and remains in an uptrend despite the scare of July 4 and 5. Ethereum Finds Strong Resistance At $3,500 Even as buyers expect ETH bulls to press on and push the coin above $3,700, a key resistance line, on-chain data shows that there is resistance. According to IntoTheBlock data on July 22, ETH has strong resistance at $3,500, which has been the…