"The to the moon" didn't happen, and the price of ETH dropped by 8% in a day. 🤷
💰 Capital inflow into new spot ETFs based on Ethereum decreased following the trading session on July 24. For example, BlackRock's fund received $17 million compared to $266.5 million on the first day. 🤔
The outflow of investor funds from Grayscale's ETF continued, amounting to $327 million (down from $484 million the day before).
📉 Due to the price drop ($3,174 at the moment) on exchanges, ETH longs worth approximately $100 million were liquidated in a day.
💰 Capital inflow into new spot ETFs based on Ethereum decreased following the trading session on July 24. For example, BlackRock's fund received $17 million compared to $266.5 million on the first day. 🤔
The outflow of investor funds from Grayscale's ETF continued, amounting to $327 million (down from $484 million the day before).
📉 Due to the price drop ($3,174 at the moment) on exchanges, ETH longs worth approximately $100 million were liquidated in a day.
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Bitstamp has begun the process of returning digital assets to Mt.Gox creditors.
📢 The company announced that it has received BTC, BCH, and Ethereum from Mt.Gox trustees and will start distributing the assets to clients on July 25.
Around 20,000 users will receive payouts. 💰
Previously, the exchange Kraken conducted payouts.
📢 The company announced that it has received BTC, BCH, and Ethereum from Mt.Gox trustees and will start distributing the assets to clients on July 25.
Around 20,000 users will receive payouts. 💰
Previously, the exchange Kraken conducted payouts.
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📉 Ethereum Under Pressure: New Concerns After Sell-Off
10x Research has identified "signs of new problems" following Ethereum's sharp decline post spot ETF launch. 🧐
🔍 According to analysts, the sell-off mirrors past patterns seen during the launch of digital gold ETFs. Many traders expected ETH-ETFs to capture 20% of BTC-ETF inflows but underestimated the "sell the news" rule.
📊 Data shows significant outflows from Grayscale's ETHE, with $481M and $326M withdrawn in the first two days of trading.
🛑 Analysts predict bearish trends for Ethereum, highlighting overbought conditions before the ETF launch and stagnant or declining fundamental metrics like new users and revenue.
⚠️ While Bitcoin enjoys "digital gold" status, Wall Street remains unsure of Ethereum's value proposition. Experts warn of further price drops due to potential pressure from Mt.Gox clients, upcoming US corporate reports, and weak seasonal trends in August and September.
10x Research has identified "signs of new problems" following Ethereum's sharp decline post spot ETF launch. 🧐
🔍 According to analysts, the sell-off mirrors past patterns seen during the launch of digital gold ETFs. Many traders expected ETH-ETFs to capture 20% of BTC-ETF inflows but underestimated the "sell the news" rule.
📊 Data shows significant outflows from Grayscale's ETHE, with $481M and $326M withdrawn in the first two days of trading.
🛑 Analysts predict bearish trends for Ethereum, highlighting overbought conditions before the ETF launch and stagnant or declining fundamental metrics like new users and revenue.
⚠️ While Bitcoin enjoys "digital gold" status, Wall Street remains unsure of Ethereum's value proposition. Experts warn of further price drops due to potential pressure from Mt.Gox clients, upcoming US corporate reports, and weak seasonal trends in August and September.
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Is China to blame for everything?
🌐Today's decline in the cryptocurrency and stock markets was caused by actions of the Chinese financial regulator.
🚨 China’s unexpected back-to-back rate cuts are stirring market panic and signaling economic instability. The People's Bank of China slashed its one-year lending rate to 2.3%, injecting $27.5B to boost growth, but the move sparked fears instead.
📉 Bitcoin dropped nearly 2% to around $64,000, while Ethereum fell over 5%, dragging altcoins.
📊 Global stocks are also in the red: Germany’s DAX, France’s CAC, and Euro Stoxx 50 dipped over 1.5%, with Nasdaq 100 futures slipping further after a 3% drop.
🔍 The steepening U.S. Treasury yield curve is adding to the risk, with the spread between 10-year and 2-year yields widening, signaling market concerns over future rate cuts and persistent inflation.
💬 “The PBoC’s surprise rate cut heightened market panic,” noted Ilan Solot of Marex Solutions, highlighting the instability and ongoing risk aversion.
🌐Today's decline in the cryptocurrency and stock markets was caused by actions of the Chinese financial regulator.
🚨 China’s unexpected back-to-back rate cuts are stirring market panic and signaling economic instability. The People's Bank of China slashed its one-year lending rate to 2.3%, injecting $27.5B to boost growth, but the move sparked fears instead.
📉 Bitcoin dropped nearly 2% to around $64,000, while Ethereum fell over 5%, dragging altcoins.
📊 Global stocks are also in the red: Germany’s DAX, France’s CAC, and Euro Stoxx 50 dipped over 1.5%, with Nasdaq 100 futures slipping further after a 3% drop.
🔍 The steepening U.S. Treasury yield curve is adding to the risk, with the spread between 10-year and 2-year yields widening, signaling market concerns over future rate cuts and persistent inflation.
💬 “The PBoC’s surprise rate cut heightened market panic,” noted Ilan Solot of Marex Solutions, highlighting the instability and ongoing risk aversion.
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The mining company Marathon Digital announced a $100 million Bitcoin purchase and a transition to a HODL strategy!
💰 The company now holds over 20,000 BTC ($1.3 billion). The average purchase price is unknown.
Moreover, MARA has fully adopted a HODL strategy, meaning it will not sell the bitcoins it mines. 🚀
Additionally, the company will periodically buy bitcoins to increase its reserves.
💲 To fund its operations, MARA will use its existing cash reserves.
💰 The company now holds over 20,000 BTC ($1.3 billion). The average purchase price is unknown.
Moreover, MARA has fully adopted a HODL strategy, meaning it will not sell the bitcoins it mines. 🚀
Additionally, the company will periodically buy bitcoins to increase its reserves.
💲 To fund its operations, MARA will use its existing cash reserves.
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VanEck has published basic, bearish, and bullish scenarios for Bitcoin's price in 2050.
The range is incredibly wide! Just take a look: the bullish price is $52,386 million per BTC 🙀, while the bearish price is "only" $130 thousand. In the basic scenario, it's $2,910 million.🧐
The conclusion is clear: the current price $67,000 is a very low and you should buy now, if not for yourself, then to leave as an inheritance for your children. 😉💰
The range is incredibly wide! Just take a look: the bullish price is $52,386 million per BTC 🙀, while the bearish price is "only" $130 thousand. In the basic scenario, it's $2,910 million.🧐
The conclusion is clear: the current price $67,000 is a very low and you should buy now, if not for yourself, then to leave as an inheritance for your children. 😉💰
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💎 TON Developers Introduce Gasless Payments
🧑💻The TON development team and the creators of the Tonkeeper wallet have implemented the new W5 smart wallet standard for cryptocurrency wallets supporting the TON blockchain.
👀 This will allow the transfer of tokens within the TON network without the need to hold Toncoin in the wallet for gas payments. In other words, fees for transfers in USDT or NOT can be paid with these same tokens.
It has been reported that support for the new standard will soon be added to the TON Space and MyTonWallet wallets as well.
🧑💻The TON development team and the creators of the Tonkeeper wallet have implemented the new W5 smart wallet standard for cryptocurrency wallets supporting the TON blockchain.
👀 This will allow the transfer of tokens within the TON network without the need to hold Toncoin in the wallet for gas payments. In other words, fees for transfers in USDT or NOT can be paid with these same tokens.
It has been reported that support for the new standard will soon be added to the TON Space and MyTonWallet wallets as well.
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Ethereum worth ~$288 million moved for the first time in seven years
💲 On July 25, an address likely associated with the Ethereum Foundation (EF) transferred 92,500 ETH worth about $287.7 million after seven years of inactivity.
In response to speculation about the involvement of the non-profit organization in the transactions, EthHub co-founder Eric Conner stated that it is most likely an early participant. 🐳
🔎 According to the Arkham platform, on September 1, 2015, the organization moved 96,474 ETH. From the new address, the funds were sent to an unmarked wallet seven years ago, which remained almost inactive all this time.
👀 Conner believes that the 2015 transaction was the initial transfer of EF assets to an investor. There were many such operations at that time, he added.
Comments noted that ETH was worth $1.35 at that time, and the entire amount slightly exceeded $100,000. 💰🚀
💲 On July 25, an address likely associated with the Ethereum Foundation (EF) transferred 92,500 ETH worth about $287.7 million after seven years of inactivity.
In response to speculation about the involvement of the non-profit organization in the transactions, EthHub co-founder Eric Conner stated that it is most likely an early participant. 🐳
🔎 According to the Arkham platform, on September 1, 2015, the organization moved 96,474 ETH. From the new address, the funds were sent to an unmarked wallet seven years ago, which remained almost inactive all this time.
👀 Conner believes that the 2015 transaction was the initial transfer of EF assets to an investor. There were many such operations at that time, he added.
Comments noted that ETH was worth $1.35 at that time, and the entire amount slightly exceeded $100,000. 💰🚀
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Peter Schiff has come up with a new narrative for gold: it’s a more secretive asset than BTC because gold conferences are attended by far fewer people. 🤣🤣🤣
Just yesterday, Peter Schiff, who has repeatedly criticized Bitcoin, made a new statement about the first cryptocurrency. He warned that Bitcoin is on the brink of a deep recession due to the stock market decline.
He’s made similar statements dozens of times; it's getting boring already... 🥱
"Some guy at the #Bitcoin Conference just said that Bitcoin is the world's best kept secret. Pumpers have to at least make their lies believable. Almost everyone knows about Bitcoin. There are 20K people at that conference. The biggest annual #gold conferences attracts around 500."
Just yesterday, Peter Schiff, who has repeatedly criticized Bitcoin, made a new statement about the first cryptocurrency. He warned that Bitcoin is on the brink of a deep recession due to the stock market decline.
He’s made similar statements dozens of times; it's getting boring already... 🥱
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Crypto soothsayer
VanEck has published basic, bearish, and bullish scenarios for Bitcoin's price in 2050. The range is incredibly wide! Just take a look: the bullish price is $52,386 million per BTC 🙀, while the bearish price is "only" $130 thousand. In the basic scenario…
🐂 Michael Saylor's bullish forecast for 2045 is $49 million per BTC.
While according to VanEck's bullish scenario, Bitcoin will be worth $52 million in 2050, Michael Saylor is clearly more optimistic.
🧸 His bearish forecast is $3 million, and in VanEck's bearish scenario, Bitcoin could be worth just $130,000 in 2050. Or maybe digital gold will just go through a deep correction? 😁
While according to VanEck's bullish scenario, Bitcoin will be worth $52 million in 2050, Michael Saylor is clearly more optimistic.
🧸 His bearish forecast is $3 million, and in VanEck's bearish scenario, Bitcoin could be worth just $130,000 in 2050. Or maybe digital gold will just go through a deep correction? 😁
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Release Date for Changpeng Zhao Announced
👀 Contrary to the expectations of some community members, Binance founder and former CEO Changpeng Zhao (CZ) will not be released in August.
Some mistakenly reported a specific release date for the entrepreneur—August 30—based on the fact that on April 30, a court in Seattle (USA) sentenced Zhao to four months in prison. 🧐
In reality, Zhao began serving his sentence in late May at the federal prison in Lompoc, California, as his lawyers ensured he had a few extra weeks of freedom, fully justifying their hefty fees.
Data from the Federal Bureau of Prisons shows that CZ is set to be released on September 29. This will happen if nothing changes. 🤷
👀 Contrary to the expectations of some community members, Binance founder and former CEO Changpeng Zhao (CZ) will not be released in August.
Some mistakenly reported a specific release date for the entrepreneur—August 30—based on the fact that on April 30, a court in Seattle (USA) sentenced Zhao to four months in prison. 🧐
In reality, Zhao began serving his sentence in late May at the federal prison in Lompoc, California, as his lawyers ensured he had a few extra weeks of freedom, fully justifying their hefty fees.
Data from the Federal Bureau of Prisons shows that CZ is set to be released on September 29. This will happen if nothing changes. 🤷
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🔒 Former Huobi Employees Stole Over 40,000 Private Keys
🧑💻 Four former employees of the cryptocurrency exchange Huobi implanted trojans into client wallets and stole over 40,000 seed phrases and private keys, according to Colin Wu.
👀 In early March 2023, Zhang, Dong, and Liu added a backdoor program to the wallet software, gaining access to more than 19,000 crypto addresses. The exact amount of stolen assets is not disclosed. In April 2024, the court sentenced them to three years in prison and fined them 30,000 yuan (over $4,000).
🤷 Another former Huobi employee, Zhang Mouyi, also embedded a backdoor in the wallet’s source code, stealing over 6,400 private keys and seed phrases since July 2021. He received three years in prison and a 50,000 yuan (~$7,000) fine. Huobi collaborated with the Shanghai Public Security Bureau in investigating the incident.
It’s worth noting that in November 2023, there was a $110 million hack of HTX and Heco Bridge.
🧑💻 Four former employees of the cryptocurrency exchange Huobi implanted trojans into client wallets and stole over 40,000 seed phrases and private keys, according to Colin Wu.
👀 In early March 2023, Zhang, Dong, and Liu added a backdoor program to the wallet software, gaining access to more than 19,000 crypto addresses. The exact amount of stolen assets is not disclosed. In April 2024, the court sentenced them to three years in prison and fined them 30,000 yuan (over $4,000).
🤷 Another former Huobi employee, Zhang Mouyi, also embedded a backdoor in the wallet’s source code, stealing over 6,400 private keys and seed phrases since July 2021. He received three years in prison and a 50,000 yuan (~$7,000) fine. Huobi collaborated with the Shanghai Public Security Bureau in investigating the incident.
It’s worth noting that in November 2023, there was a $110 million hack of HTX and Heco Bridge.
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📈 Spot trading volume on DEX has set a new all-time high in relation to volumes on CEX, approaching 15%
The previous peak was reached in May 2023 (13.7%). 🧐
The previous peak was reached in May 2023 (13.7%). 🧐
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Crypto soothsayer
🐂 Michael Saylor's bullish forecast for 2045 is $49 million per BTC. While according to VanEck's bullish scenario, Bitcoin will be worth $52 million in 2050, Michael Saylor is clearly more optimistic. 🧸 His bearish forecast is $3 million, and in VanEck's…
🚀 Bitcoin's Market Capitalization in 2045 Compared to Gold's Capitalization 🙄
From Michael Saylor's slides at the Bitcoin Conference. ⬆️
Legendary crypto enthusiast Ansem (470,000 followers on X) believes that Michael Saylor "did 100 lines of coke before making that powerpoint slide" for his presentation at the Bitcoin Conference.🤣🤣🤣
From Michael Saylor's slides at the Bitcoin Conference. ⬆️
Legendary crypto enthusiast Ansem (470,000 followers on X) believes that Michael Saylor "did 100 lines of coke before making that powerpoint slide" for his presentation at the Bitcoin Conference.🤣🤣🤣
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🗝 Key points from Donald Trump's speech at Bitcoin 2024 conference:
🔹 The US must take the lead in the crypto industry, or China will.
🔹 On his first day in office, Trump will fire SEC Chairman Gary Gensler.
🔹 A Bitcoin and cryptocurrency advisory board will be created.
🔹 Confiscated bitcoins (213k BTC) will not be sold but will form a strategic reserve for the US.
🔹 Trump will ease the sentence for Silk Road founder Ross Ulbricht.
🔹 He will oppose the creation of a Central Bank Digital Currency (CBDC).
🔹 Despite previous statements, Trump now says that Bitcoin does not threaten the dollar.
The market reacted very positively to Donald Trump's speech and the price of Bitcoin jumped to $69,800. 📈💰
🔹 The US must take the lead in the crypto industry, or China will.
🔹 On his first day in office, Trump will fire SEC Chairman Gary Gensler.
🔹 A Bitcoin and cryptocurrency advisory board will be created.
🔹 Confiscated bitcoins (213k BTC) will not be sold but will form a strategic reserve for the US.
🔹 Trump will ease the sentence for Silk Road founder Ross Ulbricht.
🔹 He will oppose the creation of a Central Bank Digital Currency (CBDC).
🔹 Despite previous statements, Trump now says that Bitcoin does not threaten the dollar.
The market reacted very positively to Donald Trump's speech and the price of Bitcoin jumped to $69,800. 📈💰
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Exactly 14 years ago on this day, Satoshi Nakamoto wrote a legendary phrase on the Bitcointalk forum:
📝 This statement was made during the early days of Bitcoin's development when Satoshi was actively engaging with the community to explain the concept and mechanics of Bitcoin.
The message reflects Satoshi's firm belief in the revolutionary potential of Bitcoin and the frustration with skeptics who didn't grasp the vision. 🚀
This phrase has since become iconic, symbolizing the unwavering conviction of Bitcoin's creator in the face of doubt and criticism.
"If you don't believe me, or don't understand, I don't have the time to try to convince you, sorry."
📝 This statement was made during the early days of Bitcoin's development when Satoshi was actively engaging with the community to explain the concept and mechanics of Bitcoin.
The message reflects Satoshi's firm belief in the revolutionary potential of Bitcoin and the frustration with skeptics who didn't grasp the vision. 🚀
This phrase has since become iconic, symbolizing the unwavering conviction of Bitcoin's creator in the face of doubt and criticism.
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Is it time for a new Bitcoin ATH?
👀 Investor and Okse co-founder, known on Twitter as Elja, believes so. He stated that Bitcoin's post-halving consolidation is "practically over."
Previously, Standard Chartered predicted that Bitcoin could reach a new all-time high in August and then rise to $100,000 by the U.S. presidential election in November. 🚀
Do we believe it? Yes - 🔥
August has always been slow for crypto growth, the new ATH will be in September. - 👍
We're being fooled, the bull market is already over. - 👎
👀 Investor and Okse co-founder, known on Twitter as Elja, believes so. He stated that Bitcoin's post-halving consolidation is "practically over."
Previously, Standard Chartered predicted that Bitcoin could reach a new all-time high in August and then rise to $100,000 by the U.S. presidential election in November. 🚀
Do we believe it? Yes - 🔥
August has always been slow for crypto growth, the new ATH will be in September. - 👍
We're being fooled, the bull market is already over. - 👎
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