Musk's endorsement of Trump and crypto signals potential shifts in political and financial landscapes, impacting both markets and voter sentiment.
The post Elon Musk goes laser eyes after Biden quits re-election bid appeared first on Crypto Briefing.
Solid inflows into spot Bitcoin ETFs reflect investors' bullish sentiment, and this could push SOL, ICP, GRT and BONK.
Bitcoin (BTC) has been gradually inching higher toward the $70,000 mark, indicating that the sentiment remains positive. United States-based spot Bitcoin exchange-traded funds witnessed inflows of $383 million on July 19, per Farside Investors data. That pushed the cumulative net inflows into the ETFs to more than $17 billion since their launch.
As Bitcoin’s price maintains above $65,000, Bitcoin whales seem to have reduced their selling. CryptoQuant head of research Julio Moreno said in a post on X that selling by large Bitcoin investors has exhausted and “valuation metrics suggest positive momentum.”
Bitcoin’s strength has resulted in a recovery in several altcoins. The cryptocurrency markets may receive a further boost from the launch of Ethereum ETFs, which are expected to start trading on July 23.
Biden's withdrawal impacts crypto markets, potentially boosting Trump's pro-crypto stance and reshaping the 2024 election landscape.
The post Bitcoin tumbles on news of Biden’s withdrawal from election race appeared first on Crypto Briefing.
Investors’ excitement over airdrops and other incentives fueled TON Network’s TVL, but how sustainable is this strategy?
Toncoin (TON) is the native coin of The Open Network, a layer-1 blockchain initially developed by the Telegram messaging app. The TON ecosystem is largely driven by Telegram’s 900 million active users.
Despite being relatively new to the decentralized applications (DApps) ecosystem, the TON Network has surpassed Optimism to become the tenth largest blockchain in terms of total value locked (TVL).
On June 26, Bitget crypto exchange and Singapore-based investment firm Foresight Ventures announced a $20 million TON ecosystem fund to support early-stage projects and TON-based applications. Previously, the exchange had launched an official Telegram signal trading recommendation bot, enabling group owners to integrate this functionality at no cost.
The WazirX hack underscores the urgent need for robust crypto regulations in India to ensure security, accountability, and consumer protection.
The post WazirX reports $230M hack to police and cyber unit, implements recovery efforts appeared first on Crypto Briefing.
Bitcoin miners seem to be capitulating, a harbinger of a bullish reversal, according to ARK.
According to a report by asset manager ARK Invest released on July 18, Bitcoin became oversold in June after Germany’s government initiated a multibillion-dollar sell-off of 50,000 BTC seized in a 2020 police sting against Movie2k, a streaming platform for pirated content.
The sell-off sent Bitcoin (BTC) prices tumbling from highs exceeding $70,000 in early June to a low of less than $55,000 during a brief dip in July.
“Based on short-term-holder realized profits/losses and miner outflows, Bitcoin appears oversold,” according to the report, which focuses on the period through June 30 but includes more recent data. “Current levels [of miner outflows] suggest that miners are capitulating, a harbinger of a bullish reversal.”
What’s behind the correction in the US stock market and how might it continue to negatively impact cryptocurrencies?
The S&P 500 index experienced a 2.6% decline over the past two days, testing the 5,523 level on July 18. This correction erased gains from the previous two weeks but saw decent buying activity in the last trading hours after chipmaker Taiwan Semiconductor Manufacturing Company (TSM) reported earnings above market consensus.
Investor morale was negatively affected, which partially explains why Bitcoin (BTC) and Ether (ETH) traded down on July 18. Understanding the reasons behind the US stock market decline is essential to determine whether cryptocurrencies should sustain a positive correlation.
Fear of rising inflation due to unsustainable government debt might present a short-term negative impact but it also opens an opportunity as investors seek alternative scarce assets. However, if investors feel that the economy is worsening, especially in the job market, traders are likely to seek protection in cash and short-term government bonds.
Pixelverse airdropped 10% of PIXFI’s total supply to holders of its Rare, Epic, and Legendary non-fungible token (NFT) collections.
Pixelverse, a non-fungible token (NFT) and gaming platform on The Open Network (TON), launched its native token, PIXFI, in a much-anticipated airdrop on July 18.
The token traded up almost 50% in the first hours after listing and approached approximately $200 million in fully-diluted market capitalization before pulling back later in the day, according to CoinMarketCap.
The PIXFI token is now listed on several centralized exchanges, including Bybit, HTX, Gate, Bitget, MEXC, according to another Pixelverse X post.
Macroeconomist Lyn Alden assesses the impact of the 2024 US presidential election outcome on Bitcoin and the broader crypto industry.
Macroeconomist Lyin Alden argues that a potential victory for Donald Trump in the upcoming US presidential elections could lead to the extension of corporate tax cuts, which in turn could favor the crypto markets.
These tax cuts, which were approved during Trump’s first presidential term, are due to expire soon but are likely to be prolonged if Trump is elected again.
“The market might be saying that a Trump victory increases the odds of those tax cuts remaining in effect or becoming permanent,” Alden pointed out in the latest interview with Cointelegraph.
Franklin Ethereum ETF (EZET) has emerged as the fee race’s frontrunner.
Virtually all of the soon-to-be-listed Ether exchange-traded funds (ETFs) are temporarily waiving or discounting fees as rivalries among issuers heat up ahead of next week’s anticipated listings, according to documents filed with United States regulators.
The promotional discounts range from full waivers to roughly 50% fee reductions and vary in length from six months to a year. Some discounts also expire once ETFs pull a certain amount of assets under management (AUM).
In total, seven out of 10 proposed spot Ether (ETH) ETFs are touting fee cuts. Grayscale Ethereum Trust (ETHE) and Invesco Galaxy Ethereum ETF are opting out of the fee war. The other outlier — ProShares Ethereum ETF — has lagged behind peers in the registration process and is not expected to list next week.
