SEC remains silent on spot Ethereum ETF approval, leaving market participants in suspense. $ETH holders and major players are accumulating in anticipation. Approval could attract $1B monthly and push $ETH past $3,200, potentially sparking a bull run to $4,000. #Ethereum #Update
U.S. Bitcoin ETFs saw a $1.1B influx, hitting a record 888,607 BTC. BlackRock’s IBIT led with $523M, followed by Fidelity’s FBTC with $356M. Global Bitcoin ETF holdings reached 1,051,569 BTC. Despite German liquidations, Bitcoin’s price stabilized, showing strong institutional demand. #CryptoNews
Ripple CEO Brad Garlinghouse and CLO Stuart Alderoty mark the first anniversary of Judge Torres’ ruling declaring $XRP not a security. This decision curbed SEC overreach and boosted $XRP’s market cap by 6% and trading volume by 46%. #CryptoNews
Kraken’s Thomas Perfumo predicts spot Ethereum ETFs could attract up to $1B monthly, potentially driving $ETH to new highs. He cites factors like the upcoming US election, possible rate cuts, and cooling inflation as bullish catalysts. #Ethereum #CryptoNews
.@AbraGlobal acquires Tron ($TRX) and Zilliqa ($ZIL) trusts from Valkyrie Investments, expanding its crypto offerings. Abra will also return $82.1M in cryptocurrencies to U.S. customers following a regulatory settlement. #Update #CryptoNews
Federal Judge Katherine Polk Failla has postponed Tornado Cash co-founder Roman Storm’s trial to early December. The trial will address whether Storm can be held accountable for user actions, including alleged money laundering by North Korean hackers. This case could set a precedent for developer responsibility. #CryptoLaw #Update
Trustee Plus eliminates fees for exchanging $USDT to $USDC and introduces USDC transfers on @solana. External USDC transfers now cost just 1 USDC, significantly lower than Ethereum’s $6.75 fee. CEO Vadim Grusha emphasizes affordability and accessibility. #CryptoNews
US Rep. Tom Emmer accuses SEC Chair Gary Gensler of “regulation-by-harassment,” demanding his dismissal. Mark Cuban echoes the call, citing harm to crypto growth. Crypto leaders warn current SEC practices may hurt Biden’s re-election. #CryptoRegulation
Germany completes its Bitcoin liquidation, selling 50,000 BTC worth $3B, causing an 18% price drop. Analysts warn it might be a strategic blunder. This event highlights the impact of large BTC holdings on the market. #Bitcoin #Update
Germany has sold its last 3,846 $BTC, totaling $223.81M, marking the end of a month-long selloff of over 46,000 BTC. This move impacted crypto markets, keeping Bitcoin below $60K. Market experts now predict potential recovery and stabilization. #Crypto #BitcoinNews
OKX launches the Alt Drive trading campaign with a $120,000 prize pool in tokens. Running until Aug 10, 2024, participants can win TradingView subscriptions and token rewards. Complete tasks on OKX’s website to join. #Update #CryptoNews @OKX
Coinbase analysts predict continued crypto volatility through Q3 2024. Despite recent $BTC challenges, approvals of spot ETH ETFs and SOL ETF applications signal hope. Analysts see potential Q4 recovery with interest rate cuts and US election impacts. #Update #CryptoNews
Elon Musk’s X (formerly Twitter) rejected the European Commission’s deal to avoid fines for censoring speech without user consent. X faces penalties under the Digital Services Act (DSA) for deceptive practices and poor advertising transparency. Commissioner Thierry Breton stresses the need for transparency. #Regulation
Bitcoin ($BTC) diverges from its usual correlation with the S&P 500, experiencing a 19.4% decline over 5 weeks, while the S&P 500 grew by 5.4%. Despite a minor 2.97% recovery for BTC, its bearish trend continues. This shift could signal a potential bullish period for BTC. #Update
