Ali

@coolhand93

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This week's crypto market highlights: ⚫ Black Monday in crypto ⚫ Ripple fined $125m, but XRP is not a security ⚫ Brazil approved Solana spot ETF ⚫ FTX and Alameda settle for $12.7bn with US CFTC ⚫ TON listed on Binance ⚫ Genesis distributed $1.82bn to creditors ⚫ Russia legalized crypto mining

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Digital asset investment products saw outflows for the first time in 4 weeks totalling $528m in what we believe is a reaction to fears of a recession in the US, geopolitical concerns and consequent broader market liquidations across most asset classes. Bitcoin saw outflows totalling $400m, the first following 5 weeks of inflows. Ethereum saw outflows totalling $146m, bringing the net outflows since the ETF launch in the US to $430m.

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The Fed kept the interest rates unchanged at 5.5% in line with consensus estimates. Fed's meeting notes include: ⚫Economic activity continues to grow at a steady pace ⚫Job growth has slowed, and the unemployment rate has risen, but remains low ⚫Inflation has decreased over the past year but remains high ⚫Recent months have shown progress toward the 2% inflation target ⚫The risks to the Fed's dual mandate are balanced ⚫Future decisions on monetary policy will depend on incoming macroeconomic data ⚫More confidence in reducing inflation is needed to lower interest rates

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Founder Vitalik Buterin celebrated Ethereum's 9th birthday. Here's a timeline of key events: ⚫ 2013: Ethereum whitepaper created ⚫ 2014: ETH initial coin offering (ICO) raises $18m in BTC ⚫ 2015: Ethereum blockchain proof-of-work (PoW) goes live - Codename "Frontier" ⚫ 2016: DAO hack - $50m ETH stolen ⚫ 2017: Byzantium fork - block rewards reduced from 5 ETH to 3; ETH NFTs launched ⚫ 2019: Ethereum optimizes gas fee structure ⚫ 2020: Introduction of the proof-of-stake (PoS) "Beacon Chain" ⚫ 2022: Transition from PoW to PoS ⚫ 2023: "Sharding" begins, enhancing speed and efficiency

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The U.S. government moved 29799.99011436 BTC (worth $2.02bn) to bc1qj address. They currently hold 69,000 BTC that once belonged to Silk Road founder Ross Ulbricht and 50,676 BTC that was stolen by Jimmy Zhong from the Silk Roa

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Michael Saylor's speech at Bitcoin 2024 highlighted Bitcoin's potential in the modern financial landscape: ⚫World economy relies on outdated systems; modern technology is needed ⚫Bitcoin could replace half of the $900tr in global wealth, currently holding 0.1% ⚫Traditional assets lose value over time, while Bitcoin preserves capital ⚫By 2045, Bitcoin could reach $13m per coin, representing 7% of global assets ⚫Early Bitcoin-buying nations will gain a significant advantage ⚫AI and new technologies will enhance the economy, but Bitcoin remains essential ⚫Bitcoin is likened to a 'cyber Manhattan,' attracting future capital

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Last week, BlackRock's iShares Bitcoin Trust (IBIT) achieved a new all-time high of 67% market share in spot Bitcoin ETF trading volume, surpassing its previous record of 61%.

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Spot ETH ETFs are slated to launch on July 23, just over two months after the SEC approved a rule change for exchanges to list these funds. Grayscale will convert its ETHE trust into a spot ETF as well as launching a mini trust which will be seeded with $1bn from the former fund. In a similar fashion to its BTC ETF decision Grayscale kept ETHE’s fee significantly higher than competitors, at 2.5%.

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Bitcoin prices are hovering very close to the average cost of production for Bitcoin miners

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Despite healthy investor profitability, the magnitude of volume being processed and transferred on the Bitcoin Network following the ATH has declined drastically. This underscores a reduced appetite for speculation and heightened indecision in the market.

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I now just post

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Since the beginning of 2023, Bitcoin's 60-day historical volatility has remained below 50%, a stark contrast to the significant fluctuations of 2022, when volatility exceeded 100%

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USD-backed stablecoins dominate the crypto market, accounting for nearly 90% of all crypto transactions relative to the US dollar. In 2024, their average weekly volume was $270bn, 70 times higher than Euro-backed stablecoins. Euro-backed stablecoins, though still only 1.1% of transactions, have grown from nearly z…

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Historically, Q3 has had the lowest volume by a significant margin, with cumulative BTC trade volume over 40% below the highest volume quarter.

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Binance officially announced that the number of registered users on the platform has exceeded 200m worldwide. It took Binance 2 years and 2 months to grow from 100m to 200m users. To put this into perspective, 200m users is more than the population of countries such as: 🇮🇹 Italy (60m) 🇫🇷 France (65m…

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Donald Trump referred to himself as a "crypto president" at a tech fundraiser in San Francisco

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Nvidia surpassed Apple to become the second-largest public company in the U.S. It is the first computer-chip company ever to hit $3tr in market capitalization.

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