Ethereum
Bitcoin Traders Lose Interest as Ethereum ETFs Could Attract Up to $5 Billion in Inflows
- Bitcoin market is seeing a drop in volatility according to on-chain data from Crypto Quant.
- Bitcoin ETFs saw $129 million in net inflows on July 1; on-chain analysts predict BTC relief rally
- Gemini predicts that Spot Ethereum ETFs could attract up to $5 billion in inflows, according to a recent report.
- Ethereum held above $3,400 on Tuesday, adding nearly 3% to its value over the past week.
Bitcoin, Ethereum, XRP Update
- Bitcoin is trading at $62,787 below the $63,000 level early Tuesday. The largest asset by market cap saw an inflow of $129 million into spot exchange-traded funds (ETFs), according to data from Spotonchain.
Bitcoin Holds Above $61,000 as Daily Active Addresses Hit Highest Level Since Mid-April
- Ethereum is trading at $3,449, with the altcoin holding above key support at $3,400 ahead of the likely ETF approval, expected as early as Thursday, July 4.
Ethereum’s Expected July Surge Threatened by Capital Outflows, Whale Exchange Deposit
- XRP is trading at $0.4863 after key developments like Ripple’s decision being accepted as precedent in the SEC vs. Binance lawsuit. While the judge allowed most of the charges to proceed, the accusation that secondary market sales of the native token BNB were considered a security was dismissed.
Ripple Lockup Deadlines Expired Monday, 1 Billion XRP Unlocked as Altcoin Reaches Above $0.47
Map of the day
BONK/USDT Daily Chart
BONK is expected to extend its gains and rally towards the 50% Fibonacci retracement level of the decline from the March 4 high at $0.000048 to the April 13 low at $0.000012. BONK could rally 13.6% to $0.000036.
The green bars of the histogram above the neutral line in the moving average convergence divergence (MACD) support the bullish thesis.
BONK could find support at the June 30 low of $0.00002147.
Market Updates
- Pendle Finance, a leading DeFi project, has seen a 40% drop in its total value locked (TVL) over the past week. PENDLE is trading at $4.828 early Tuesday.
- Paxos has received approval from the Singapore central bank to issue stablecoins and announced a partnership with DBS Bank.
- Bitcoin active addresses surpassed 900,000 on July 1, reaching levels previously seen only in mid-April 2024, according to data from IntoTheBlock.
Daily Active Bitcoin Addresses
- Data from Spotonchain shows that Bitcoin ETFs saw inflows of $129 million.
Industry News
- Kronos Advanced Technologies is the first public company to accept Shiba Inu (SHIB) for payments.
- Bitcoin has seen a drop in interest from both buyers and sellers. A CryptoQuant analyst notes that this is a great time for whales to accumulate Bitcoin, according to on-chain data.
#Bitcoin the market is boring with less volatility.
= Less interest from buyers and sellers.
= Retail exit liquidity is not ready.
= Perfect time for whales to accumulate $BTC.= We are still in a bull cycle. Boredom is opportunity. pic.twitter.com/zccHAbOOHA
— Ki Young Ju (@ki_young_ju) July 1, 2024
- ZKsync has unveiled Elastic Chain, a ZK rollup network useful for new protocols and developers, according to an official announcement.