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? Bitcoin surged past $65K, driven by strong inflows into spot Bitcoin ETFs and institutional buying. Whales have accumulated 1.45M BTC this year, pushing their total to over 1.8M BTC. Despite volatility, analysts suggest the dip could set up the next rally. $BTC #CryptoNews
US Bitcoin ETFs have surged, accumulating over 900,000 BTC as of July 17, 2024. BlackRock’s $IBIT led with $1B in inflows in 8 days. Wednesday saw $53M inflows, pushing prices above $65,000, despite $57M outflows from Grayscale’s $GBTC. Total US inflows now exceed $16B.
Grayscale plans to launch its Ethereum ETF on July 23 with a hefty 2.5% fee, much higher than competitors’ 0.25%. Experts like Bloomberg’s Eric Balchunas criticize this strategy, predicting significant outflows similar to the Bitcoin Trust. #Ethereum #Update
Virgil Griffith, an Ethereum developer, had his prison sentence reduced to 56 months after initially receiving 63 months for violating sanctions by visiting North Korea in 2019. Judge Kevin Castel noted reduced public danger despite Griffith’s defiance. The U.S. Commerce Dept. also banned him from export activities until 2032. #Update
State Street Corporation is planning to launch a stablecoin and deposit token to boost global payment efficiency using blockchain technology. They aim to integrate digital assets into services and require regulatory approval amidst evolving US stablecoin laws. This move highlights their innovative approach in digital finance. #Update
Elon Musk and other tech leaders back Donald Trump for the 2024 U.S. Presidential election. Musk, who reinstated Trump’s account on X and pledged $45M monthly to a supporting Super PAC, aligns with Trump on free speech despite differing on climate change. #Election2024
Mark Cuban predicts $BTC will become a safe haven under Trump. Silicon Valley’s support may lead to favorable SEC changes for crypto. With Trump’s policies potentially causing inflation, Bitcoin’s limited supply and inflation resistance could boost its value. Key figures like @Winklevoss support Trump. #CryptoNews
Ethereum ETFs approved by the SEC for major institutions like @BlackRock and @Fidelity could drive $ETH to new highs by year-end. With 40% of ETH locked in staking and DeFi, the scarcity may amplify price gains. Currently trading at $3,486.93, ETH is up 2%. #CryptoNews
Grayscale has launched the first-ever Decentralized AI Fund, allowing investors to gain exposure to AI coins like $NEAR, $FIL, $RNDR, $LPT, and $TAO without directly handling digital currencies. NAV per share is $9.97 as of July 16. #Update #CryptoNews
Bitcoin and Ethereum saw over $50M in short liquidations as prices hit multi-week highs. $BTC rose above $66K, $ETH above $3,500. Despite gains, long positions saw $58M liquidated. Solana faced $4M, $XRP $4.5M, and Pepe $2.9M in short liquidations. Analysts predict potential new highs. #CryptoNews
21Shares has filed an updated S-1 for a Spot Ethereum ETF, waiving the sponsor fee for the first six months or until assets hit $500M. This aims to attract investors by reducing costs and boosting confidence in Ethereum-based financial products. #Ethereum #Update
21Shares has filed an updated S-1 for a Spot Ethereum ETF and will waive the sponsor fee for six months or until the Trust’s assets hit $500M. This aims to lower costs and attract investors, showing confidence in Ethereum as an asset. #Ethereum #Update
Bitcoin ($BTC) surged to $66K and Ethereum ($ETH) surpassed $3,500, leading to over $50M in short liquidations within 24 hours. Data shows $BTC had $30M and $ETH had $21M in short liquidations. The total market saw $155M liquidated. Analysts highlight positive sentiment and institutional inflows. #Update
OKX to cease operations in Nigeria by August 16 due to regulatory changes. Users advised to close positions and withdraw funds. This follows a trend of crypto firms exiting Nigeria amid rising regulatory challenges. #CryptoNews
