Hashdex files S-1 for ETF to hold Bitcoin, Ether and potentially others

July 24, 2024 Coin Telegraph

BitGo

The Hashdex Nasdaq Crypto Index US ETF could see other cryptocurrencies added down the track, subject to all the necessary approvals.

Digital asset manager Hashdex has taken another step in its proposal to offer a combined spot Bitcoin and Ether exchange-traded fund in the United States.

On June 24, the firm submitted an S-1 registration statement for its Hashdex Nasdaq Crypto Index US ETF, which will track certain cryptocurrency assets in the Nasdaq Crypto US Settlement Price Index — a daily closing value of the Nasdaq Crypto Index which measures the performance of a significant portion of the digital asset market.

The fund currently only seeks to include Bitcoin (BTC) and Ether (ETH), but the filing suggests that more assets could be added later.

More Than 40% of Crypto Industry Participants Expect Bitcoin To Surpass 0,000 This Cycle: CoinGecko Survey

More Than 40% of Crypto Industry Participants Expect Bitcoin To Surpass $100,000 This Cycle: CoinGecko Survey

MEW, WIF and Solana memecoins soar amid increasing network activity

July 24, 2024 Coin Telegraph

Cat in Dogs World (MEW)

Memecoins in the Solana ecosystem continue to outperform the wider crypto market by generating double-digit weekly gains.

Memecoins in the Solana ecosystem have seen significant gains over the last seven days, outperforming the broader crypto market.

Data from CoinGecko reveals that the total market capitalization of memecoins on the Solana blockchain has significantly risen in the last seven days to rest at $9.2 billion on July 24.

Cat in Dogs World (MEW) posted the most weekly gains, rising 82% over the last seven days and 1.4% in the last 24 hours. Gigachad (GIGA) followed with double-digit gains of 45.5% over the last seven days and 9% over the last 24 hours.

More Than 40% of Crypto Industry Participants Expect Bitcoin To Surpass $100,000 This Cycle: CoinGecko Survey

Tiny 500Gh home Bitcoin mining device produced a block, earning over $200K BTC

July 24, 2024 Coin Telegraph

Tiny 500Gh home Bitcoin mining device produced a block, earning over 0K BTC

altair technology

The device, called a ‘Bitaxe,’ successfully mined a block even though its chances were only 1 out of 1 billion every ten minutes.

A Bitcoin mining device with a hashrate of only 500 gigahashes per second (Gh/s) managed to mine a block on July 24, according to an X post from Bitcoin mining device retailer Altair Technology. The block is worth approximately $206,000 based on the current Bitcoin price.

“Congratulations to the miner who likely mined the first solo BTC block with a Bitaxe on @ckpooldev with ~500 Gh hashrate!” the post stated.

The device, called a “Bitaxe,” and produced by D-Central Technologies, is approximately the size of a human hand, as shown by YouTube channel “How Much?”

More Than 40% of Crypto Industry Participants Expect Bitcoin To Surpass $100,000 This Cycle: CoinGecko Survey

Bitstamp will begin Mt. Gox creditor repayments on July 25

July 24, 2024 Coin Telegraph

BCH

After a decade of waiting, Mt. Gox customers will find their crypto assets worth much more than when the exchange collapsed.

Bitstamp will begin distributing crypto to Mt. Gox creditors on July 25 after receiving a large transfer of assets from the trustees of the collapsed exchange a day earlier.

The Mt. Gox trustees transferred 5,106 Bitcoin (BTC) directly to Bitstamp and 2,869 BTC to an unknown address, after which they underwent additional transfers before ending up in wallets associated with Bitstamp. Bitstamp also received Bitcoin Cash (BCH) and Ether (ETH) from the trustees.

It will take a week for recipients of the repayments to undergo security checks, after which they will have full control of their coins, the exchange said in a statement. Bitstamp customers based in the United Kingdom will not be included in the first round of repayments. They can expect to receive their repayments “within the next few months.”

More Than 40% of Crypto Industry Participants Expect Bitcoin To Surpass $100,000 This Cycle: CoinGecko Survey

Ethereum’s future rests on 10,000 blockchains

July 24, 2024 Coin Telegraph

Coin Telegraph

Ethereum layer-2s are proliferating, which means Ethereum will start looking like a much better prospect for new projects in the year ahead.

A major topic in crypto in 2024 is the number of layer-2 (L2) blockchains created on top of the Ethereum network. Major nonfungible token (NFT) collections such as Pudgy Penguins, Bored Ape Yacht Club and Azuki have announced their own L2s — in addition to numerous traditional companies such as Fox Corporations and Flipkart.

This sudden surge in L2s has been treated as a joke by many who believe it to simply be hype. Nonetheless, it is very likely that we will have thousands of L2s within the next year. This will be great for the success of the Ethereum (ETH) ecosystem.

By way of background: The Ethereum network is a first-layer blockchain (L1). Ethereum prioritizes decentralization and security, but it lacks scalability — a problem known as the blockchain trilemma, where only two of those three things can be achieved.

More Than 40% of Crypto Industry Participants Expect Bitcoin To Surpass $100,000 This Cycle: CoinGecko Survey

Crypto think tank launches voting project to support ‘right candidates’

July 24, 2024 Coin Telegraph

Business

The Digital Future project did not endorse specific candidates or political parties, but its CEO ran as a Republican in a 2022 congressional campaign associated with FTX.

Michelle Bond, the CEO behind a crypto-focused think tank in Washington, DC and the partner of former FTX Digital Markets co-CEO Ryan Salame, announced the launch of an initiative “to boost voter registration and crypto education” in the United States.

In a July 24 notice, crypto think tank Digital Future said it would initially target US voters in Arizona, Nevada, Wisconsin, Minnesota, Georgia, Michigan, Pennsylvania, and North Carolina as part of Project Swing. According to Digital Future, the voter project aims to “activate support for pro-crypto candidates” ahead of the 2024 election season, which is already in full swing nationwide.

Bond said in an X post that the project would help “ensure the right candidates are elected” related to policies on financial freedom. Cointelegraph reached out to Digital Future for comment but did not receive a response at the time of publication.

More Than 40% of Crypto Industry Participants Expect Bitcoin To Surpass $100,000 This Cycle: CoinGecko Survey

Price analysis 7/24: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB

July 24, 2024 Coin Telegraph

Avalanche

Bitcoin bulls are trying to protect the $65,500 level, but if they fail, a drop to $62,000 is possible.

Crypto exchange Kraken said in a July 24 X post that it had distributed all the funds to the Mt. Gox creditors. However, that has not boosted Bitcoin’s (BTC) volatility, suggesting that the recipients of the repayments are not rushing to book profits as anticipated by a few analysts.

Similarly, the launch of spot Ether (ETH) exchange-traded funds (ETFs) failed to start any fireworks in Ether, suggesting that the markets are in a wait-and-watch mode. A minor positive is that the Ether ETFs witnessed net inflows of $106.6 million on the first day, even after $485 million in outflows from Grayscale’s freshly converted Ethereum Trust.

Bitcoin and select major altcoins have been consolidating for some time, indicating indecision between the bulls and the bears about the next directional move. The longer the range, the stronger the trigger needed for the price to break out from it.

More Than 40% of Crypto Industry Participants Expect Bitcoin To Surpass $100,000 This Cycle: CoinGecko Survey

BTC price to retest $72K as Bitcoin sets up $7B liquidation showdown

July 24, 2024 Coin Telegraph

Bitcoin

Bitcoin traders continue to look higher after a cooling-off period sees BTC price support stay firmly in place.

Bitcoin offered a short-timeframe rebound at the July 24 Wall Street open as a popular analyst eyed a “tug-o-war” on exchanges.

Data from Cointelegraph Markets Pro and TradingView showed Bitcoin (BTC) price action targeting $67,000, up around 1% on the day.

A trip lower, which some had anticipated, nonetheless preserved key support at both $65,000 and short-term holder realized price at $65,110.

More Than 40% of Crypto Industry Participants Expect Bitcoin To Surpass $100,000 This Cycle: CoinGecko Survey

Bitcoin ‘massive rally’ due as buy signal hits for 1st time in a year

July 24, 2024 Coin Telegraph

Bitcoin

BTC price breakout talk returns as the popular hash ribbons indicator goes from “capitulation” to “buy” for the first time in 2024.

Bitcoin should see an “explosive rally” next as miners exit their latest capitulation period.

The latest data from the hash ribbons indicator shows that the Bitcoin (BTC) price is now in long-term “buy” territory for the first time since mid-May.

Bitcoin hash ribbons track two moving averages of hashrate, which is the estimated combined processing power miners dedicate to the network.

More Than 40% of Crypto Industry Participants Expect Bitcoin To Surpass $100,000 This Cycle: CoinGecko Survey

BlackRock Bitcoin ETF inflows surpass ‘magnificent 7’ stocks as trader eyes $88K

July 23, 2024 Coin Telegraph

<div>BlackRock Bitcoin ETF inflows surpass 'magnificent 7' stocks as trader eyes K</div>

Bitcoin Analysis

Bitcoin price could reach above the $88,000 mark by September, driven by continued Bitcoin ETF inflows.

Inflows into BlackRock’s Bitcoin exchange-traded fund (ETF) have exceeded those into the “magnificent seven” stocks in 2024, putting BTC price on track for $88,000 by September.

BlackRocks’s iShares Bitcoin Trust ETF has accumulated nearly $19 billion of Bitcoin (BTC) year-to-date (YTD).

These "baffling" inflows are greater than those of the “magnificent seven” stocks in 2024, according to Jeroen Blockalnd, the founder of Blockland Smart Asset Fund, who wrote in a July 23 X post:

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