Из жизни альткоинов

Как и в случае с биржевыми фондами на биткоин, спотовые ETF на эфир инвесторы ждали долго. И опять, как только фонды начали торги, криптовалюта, являющаяся для них базовой, стала дешеветь. А тут еще и избирательная кампания в США.

On Friday, Japan-based cryptocurrency exchange BitFlyer announced the completion of its acquisition of 100% of the outstanding shares of FTX Japan, making FTX Japan a wholly-owned subsidiary.

The acquisition, finalized on July 26, 2024, comes after FTX Trading and related entities, including the Japan subsidiary, filed for Chapter 11 bankruptcy protection in the United States on November 11, 2022. 

Plans To Transform FTX Japan Into A Crypto Custody Giant

As announced, following approval of the sale order by the US Bankruptcy Court on July 16, BitFlyer has successfully integrated FTX Japan into its operations, with significant changes on the horizon to capitalize on the acquisition.

As part of the transition, FTX Japan will change its name by August 26, 2024, with the tentative new name being the “new custody company.” 

The rebranding is a strategic move, the company said, to align the acquired business with BitFlyer’s core focus on providing “advanced” crypto custody services to institutional investors. The exchange further stated:

The background to the basic policy of the crypto custody business is the growing need for institutional investors to enter the crypto asset market and the need for specialized security measures.

By developing a focused crypto custody business under the BitFlyer Group umbrella, the company aims to meet the growing demand from institutional investors seeking compliant access to the digital asset ecosystem in the Asian country.

BitFlyer Bets On Crypto Spot ETFs

Friday’s announcement revealed that the new custodian is exploring the possibility of offering services related to crypto asset spot exchange-traded funds (ETFs) in the future, subject to establishing the necessary legal and regulatory framework in Japan. 

This is in line with recent regulatory developments in the United States, where the US Securities and Exchange Commission (SEC) approved the listing of several spot Bitcoin ETFs in January, and most recently, the new spot Ethereum ETFs approved on Monday. BitFlyer also said on the matter:

We believe that by providing crypto custody services and crypto asset spot ETF related services through the new custody company, we will be able to provide value that is unique to the bitFlyer Group.

BitFlyer’s CEO, Yuzo Kano, stated in a recent social media post that the inflow of funds from institutional investors has increased in recent months due to the regulated Bitcoin ETF market, and he also believes that crypto-related ETFs will one day be listed in Japan. 

“Through our custody business, we aim to become a public service that serves as an industry infrastructure,” Kano stated. 

At the time of writing, FTX’s native token, FTT, is trading at $1.41, up over 6% in the wake of BitFlyer’s new acquisition on Friday. The token has also seen an 18% increase in trading volume since Thursday, reaching $13 million, according to CoinGecko data.  

Featured image from DALL-E, chart from TradingView.com

На слушаниях в комитете по банковскому делу, жилищному строительству и городскому хозяйству Сената США сенатор-демократ обратила внимание коллег на потенциальную опасность, которая исходит от иностранных компаний, добывающих цифровые активы на американской земле.

Группа BitFlyer Holdings объявила об успешном завершении процедуры приобретения компании FTX Japan и запуске нового депозитарного криптовалютного направления бизнеса.

The Spot Ethereum ETFs haven’t exactly gotten off to the perfect start, with these funds experiencing mixed flows in their first three days of trading. Crypto research firm 10x Research has provided some answers as to why institutional investors aren’t so enthusiastic about these funds. 

Wall Street Doesn’t Fully Understand What ETH Is About

10x Research suggested in a recent report that institutional investors haven’t warmly received the Spot Ethereum ETFs because they don’t fully understand what it is about. The report, written by Markus Thielen, noted that these Wall Street investors “usually don’t place bets on things they don’t understand.” 

Interestingly, Bloomberg analyst Eric Balchunas pointed out this issue immediately after the Spot Ethereum ETFs were approved in May. Back then, he noted that one of the challenges these fund issuers would face was distilling ETH’s use case in an “easy-to-understand” way, just as Bitcoin is easily referred to as “digital gold.”

10x Research again highlighted this issue, alluding to the fact that the Spot Ethereum ETF issuers have so far had a hard time explaining ETH to these traditional investors. The research firm specifically referred to BlackRock’s description of ETH as “a bet on blockchain technology,” but these investors still don’t look hooked. 

Additionally, 10x Research noted that the Spot Ethereum ETF issuers haven’t really made an effort to create awareness of their respective funds, with these funds lacking major marketing campaigns. This lack of an easy-to-understand narrative for Ethereum and the efforts from Spot Ethereum ETF issuers form part of the reasons the research firm remains bearish on ETH.

Thielen remarked, “Ethereum might be the weakest link, where fundamentals (new users, revenues, etc) have been stagnant or lower.” The research firm also alluded to ETH’s diminishing use case in this market cycle as another reason to be bearish on ETH. 10x Research argues that Solana, especially with its superior meme coin ecosystem, has stolen ETH’s shine in this cycle, which is why SOL has been outperforming ETH. 

Meanwhile, from a technical perspective, 10x Research highlighted the stochastics indicator, suggesting that ETH is currently overbought. They warned that the crypto token will likely experience significant declines in the short term and stated that “it might make sense to press the ETH short a bit longer.”

Outflows Plague The Spot Ethereum ETFs

According to data from Soso value, the Spot Ethereum ETFs witnessed a net outflow of $152.3 million on July 25 (day 3 of trading), with Grayscale’s Ethereum Trust (ETHE) solely responsible for this development with an individual net outflow of $346.22 million. The other Spot Ethereum ETFs recorded net inflows, but the amount that flowed into these funds wasn’t enough to plug the bleed. 

Since they began trading on July 23, these Spot Ethereum ETFs have witnessed a cumulative total net outflow of $178.68 million, with $1.16 billion already flowing out from Grayscale’s ETHE in the first three days of trading. These Spot Ethereum ETFs enjoyed a great outing on the first day of trading, with a net inflow of $106.78 million on July 23. 

However, they eventually succumbed to the outflows from Grayscale’s ETHE, witnessing a cumulative net outflow of $133.16 million on day 2 of trading and a net outflow of $152.3 on July 25. The outflows from ETHE are already putting significant selling pressure on ETH, potentially leading to price declines for the crypto token in the short term until the other Spot Ethereum ETFs begin to witness an increased demand that can shore up the Grayscale outflows.

Эксперты аналитической компании 10x Research считают, что отток капиталов из эфира после запуска ETH-ETF повторяет картину, которая наблюдалась после того, как на рынке США появились спотовые биржевые фонды на биткоин. По мнению аналитиков, есть риск дальнейшего падения курса эфира из-за целого ряда факторов.

Сооснователь Pixelverse, проекта на базе сети TON, заявил, что некоторые игры с использованием блокчейна не оправдали своих надежд из-за недостаточно проработанного геймплея.

On-chain data shows the Binance exchange has received large net Bitcoin inflows during the past day, indicating that BTC’s decline may extend further.

Bitcoin Binance Netflow Has Just Taken To Positive Values

In a new post on X, CryptoQuant community manager Maartunn discussed the latest trend in the Bitcoin exchange netflow for the cryptocurrency exchange Binance.

The “exchange netflow” here refers to an on-chain metric that measures the net amount of Bitcoin entering or exiting out of the wallets attached to any given exchange. The indicator’s value is calculated by subtracting the outflows from the inflows.

When the metric’s value is positive, the inflows overwhelm the outflows, and a net number of tokens enter the platform. As one of the main reasons investors deposit to exchanges is for selling purposes, this trend can be bearish for BTC.

On the other hand, the negative indicator suggests the exchange is observing net withdrawals currently, which may be a bullish sign for cryptocurrency in the long term, as it implies investors are potentially taking coins off into self-custody for HODLing.

Now, here is a chart that shows the trend in the Bitcoin exchange netflow specifically for Binance over the past week:

As displayed in the above graph, the Bitcoin Binance exchange netflow has held positive values during the recent plummet in the cryptocurrency’s price, suggesting that the platform has been receiving net deposits.

Interestingly, the metric has registered positive values even after the price decline has stopped, and its spikes have only been larger. This could mean that the whale entities only plan to sell more, which could be bad news for the asset.

So far, Bitcoin has made some recovery since these net inflows to the number one cryptocurrency exchange by trading volume have appeared, implying that the whales may not have pulled the trigger on their selling yet.

It remains to be seen if these deposits have a bearish effect on the asset, thus elongating the drawdown, or if they have made the inflows for purposes other than selling.

In other news, an old Bitcoin whale appears to have moved many tokens in the past day, as Maartunn pointed out in another X post.

This Bitcoin whale has transferred 700 BTC (around $45.4 million at the current exchange rate), which has been dormant for over ten years.

BTC Price

Bitcoin plunged to $63,400 during its latest decline, but the asset has since rebounded to $64,800.

Руководство аналитической компании SlowMist объявило о мошенниках, использующих поддельное ПО для проведения видеоконференций, после загрузки которого пользователи теряют свои криптоактивы.

In the ongoing global economic and geopolitical rivalry, the United States may have a powerful new weapon – Bitcoin (BTC). That is the argument made by Sam Lyman, the director of public policy at Riot Platforms, one of the largest Bitcoin mining companies.

America’s Key To Economic Supremacy?

Writing for Forbes, Lyman drew parallels between today’s competition in the digital asset economy and the historic “space race” between the US and the Soviet Union during the Cold War. 

Just as the US prevailed in the space race by landing the first man on the moon, Lyman believes Bitcoin could become America’s “Trump card” in its economic rivalry with China.

The key, Lyman says, is for the US to classify Bitcoin as a strategic reserve asset – a resource that a nation accumulates to bolster its defenses, stabilize its economy, or gain a competitive edge over rivals. Historically, commodities like gold, oil, and critical minerals have served this purpose for countries worldwide.

However, Lyman argues that with its scarcity, portability, and emerging status as a store of value, Bitcoin could be an ideal digital complement to physical gold reserves. 

Bitcoin Vs Gold

As China and Russia “aggressively” accumulate gold to reduce their dependence on the US dollar, another administration in the US could counter by making Bitcoin a key part of its financial arsenal. Lyman added:

Classifying Bitcoin as a strategic reserve asset would be the starting pistol in the Bitcoin Space Race. If the United States – the wealthiest country in the world and the home of global capital – begins accumulating Bitcoin on its balance sheet, then other countries would have powerful incentives to do the same.

According to Lyman, this could slow or even reverse the recent flight from the US dollar into physical gold by major US adversaries. Instead, Lyman argues, it would spark a “digital gold rush” as nations scramble to stockpile the world’s most scarce digital asset.

The idea has already gained traction among some US politicians. Riot’s executive revealed in the article that House Majority Leader Tom Emmer told Lyman that “diversifying our investments is a common-sense next step” as the US continues to embrace the “ownership economy.” 

Emmer reportedly expressed to Lyman an eagerness to discuss the matter further with former President Donald Trump, who has publicly supported Bitcoin and warned of the dangers of ceding ground to China and Russia in the digital asset space.

As Bitcoinist reported on Wednesday, Senator Cynthia Lummis is reportedly preparing to announce a bill requiring the Federal Reserve to purchase and hold BTC as a strategic reserve asset. Ultimately, the goal is to get Trump’s support for the supposed bill. 

Whether the US will ultimately wield Bitcoin as a “Trump card” against its rivals remains to be seen. However, with growing interest from political leaders and the crypto industry, it’s possible that it could have significant geopolitical implications in the years ahead.

When writing, the largest cryptocurrency on the market is trading just above $65,000 after failing to consolidate above its 1-month high of $68,000 earlier this week. 

Featured image from DALL-E, chart from TradingView.com

Сенатор-республиканец официально отозвал свою подпись под внесенным в Конгресс США год назад Законом о борьбе с отмыванием денег с помощью цифровых активов (DAAMLA).

Мэр города Джерси-Сити, штат Нью-Джерси, Стивен Фулоп сообщил, что местный пенсионный фонд подал заявку в Комиссию по ценным бумагам и биржам США (SEC) на получение разрешения инвестировать в спотовые ETF на биткоин.

On-chain data shows that long-term Bitcoin holders have reversed their trend recently, as their supply has absorbed $8 billion worth of tokens.

Bitcoin HODLers Have Gone Back To Net Accumulation

As explained by CryptoQuant author Axel Adler Jr in a post on X, the long-term holders have been increasing their supply recently. The “long-term holders” (LTHs) here refer to the Bitcoin investors who have held onto their coins for more than 155 days.

These holders make up one of the two main divisions of the BTC market based on holding time, with the other cohort being known as the “short-term holders” (STHs).

Statistically, the longer an investor holds onto their coins, the less likely they become to sell, so the LTHs, who tend to hold for long periods, represent the stubborn side of the market.

Generally, this group doesn’t easily sell, even during rallies or crashes, unlike the STHs. Still, this year’s rally was too good a profit-taking opportunity for even the diamond hands to miss out on.

As the below chart shared by the analyst shows, the Bitcoin LTHs sharply reduced their combined supply during the rally to the new price all-time high (ATH).

The Bitcoin HODLers had slowed their selloff soon after the price had dropped, but they participated in one final batch of sharp selling when BTC observed a rebound to $68,000.

The LTH supply dropped to 14,431,517 BTC following this selling spree, but since then, these holders have reversed their behavior. The chart shows that the metric has risen to 14,557,609 BTC now, which suggests an increase of 126,092 BTC, worth a whopping $8.1 billion at the current exchange rate.

Something to remember, though, is that whenever the LTH supply registers a rise, it doesn’t mean that these diamond hands are buying in the present. Rather, the increase suggests that some buying took place five months ago, and those coins have matured enough to be a part of this group.

The same principle doesn’t apply to selling, of course, since coins see their age reset back to zero as soon as they are moved on the Bitcoin blockchain, so they are instantly removed from the LTH supply.

The recent renewal of the uptrend in the indicator could be a sign that the diamond hands have finished selling and are now back to HODLing. If this is truly the case, then the trend can naturally be a bullish sign for cryptocurrency.

BTC Price

The past day has been bearish for Bitcoin as its price has dropped by more than 3%, now floating around the $64,600 level. The chart below shows what the asset’s recent performance has looked like.

Согласно опросу, проведенному криптобиржей Kraken, американские инвесторы считают, что у биткоина и других криптовалют больший потенциал роста, чем у классических инвестиционных инструментов, таких как акции и облигации.

Руководитель отдела виртуальных активов инвестиционной компании BlackRock Роберт Митчник считает, что появления на рынке новых криптовалютных ETF вряд ли возможно в ближайшее время.

Основатель и генеральный директор аналитической платформы CryptoQuant Ки Янг Джу считает, что сейчас первая криптовалюта находится в фазе накопления, поскольку киты очень активно переводят биткоины на свои кошельки.

Bitcoin is bearish at press time, fading last week’s strong gains. Even though buyers expect prices to recover and break above $69,000, bears have been unyielding, even piercing the upper range of the current consolidation.

At spot rates, Bitcoin is down 6% from last week’s highs and roughly 12% from all-time highs. Contracting prices also mean lower lows from all-time highs, a bearish signal.

Bitcoin Whales Ramping Up Purchase

Despite this confluence of bearish signals, there are hints that buyers are accumulating at spot rates. As prices breach $66,000, the primary support, on-chain data shared by Ki Young Ju on X, points to strength, at least looking at whale behavior.

Though prices might be inching lower, Ju, the CEO of CryptoQuant, notes that whales have been aggressively buying in the past few weeks. Over the past month alone, 358,000 BTC were moved to permanent holder addresses. These wallets tend to HODL and not get shaken off by price volatility, as seen with retailers when prices drop.

Most importantly, these addresses are not associated with spot Bitcoin ETF issuers or miners. So far in July, BlackRock, Fidelity, and other spot ETF issuers, like Bitwise, have bought over 53,000 BTC on behalf of their clients.

The fact that coins are moving to these wallets suggests that whales are confident of what lies ahead and are unwilling to offload their stash, coming at a time when spot Bitcoin ETF issuers are scooping more coins from circulation.

Mt. Gox Distribution Soaked Impressively Well By The BTC Market

Interestingly, whales are gulping more BTC and HODLing just when Kraken, a crypto exchange, had completed their Mt. Gox creditor repayment process. The BTC market was concerned that Mt. Gox distribution would cause a blood bath from late June to early July.

However, looking at events in the past few days, the market seemed to have handled any sell-off well without causing much volatility. In a post on X, Ju said that spot trading volume and exchange flows remain normal on Kraken.

Amid this development, more users are flowing back into the crypto market. The Mt. Gox repayment via Kraken coincides with a marked increase in USDT and stablecoin liquidity. Historically, any upsurge of USDT inflows to exchange has preceded sharp price gains in Bitcoin.

Zoomex, which sprang into the crypto scene in 2021, has swiftly taken the stage by storm. The crypto platform offers a host of cool trading alternatives, on top of its strong security and an easy-to-use interface for newbies and pros. This article examines the prominent characteristics of Zoomex that attract crypto enthusiasts. This piece talks about the best things about Zoomex that cryptocurrency and even finance aficionados will like. 

Simple Interface and Features

Zoomex stands out mostly for its simple UI. While still offering sophisticated features for experienced traders, the platform is meant to streamline the trading process, hence making it accessible for newbies. Users can quickly locate the tools they need regardless of whether they are managing their accounts, making trades, or analyzing charts.

Supporting spot and futures trading, Zoomex accommodates a broad range of trading approaches. Traders trying to diversify their portfolios or protect against market volatility depend on this adaptability. With a latency of less than 10 milliseconds, the platform also exhibits strong fast trading features. This guarantees consumers’ quick execution of deals, which is essential in the fast-paced crypto environment.

Furthermore, Zoomex provides a decentralized exchange (DEX) choice so customers may easily move between centralized and DEX trading. This function improves user control over their assets and fits the expanding trend in DeFi.

Privacy & Security

In a field where security is top priority, Zoomex focuses on safeguarding user money and personal data. The system uses two-factor authentication (2FA) and multi-signature wallets among other sophisticated security features.

• Using Zoomex has a major benefit in terms of no KYC (Know Your Customer) policy. This guarantees a better degree of privacy as users may trade without revealing personal data. The commitment of Zoomex to user anonymity appeals to traders who value privacy as it streamlines the onboarding process and lets users start trading almost right away. Important advantages consist of:
• Privacy and Security: Zoomex values user privacy by excluding KYC certification. This dedication to user anonymity guarantees that your data stays secret and safe, therefore providing a piece of mind for beginners as well as seasoned traders.
• Dedication to Compliance and Security: Zoomex supports strict regulations and security policies. Our DEX helps us to guarantee that every transaction follows current rules, therefore promoting a safe and legal trading environment. There have never been any mishaps thus far; our exchange has a perfect security record.

Experience in Trade and Benefits

Solid liquidity shows that the platform can reliably and strongly make markets. Because our staff are highly-trained and smart, they can ensure top-notch liquidity, which makes trading a breeze. This is crucial for sellers who wish to place huge orders without affecting market pricing.

Zoomex prioritizes client feedback. User reports and polls improve the site. Our platform stands out because it cares about its clients and aims to enhance the trading experience based on real users’ needs.

Global trading competitions (ZWTC), welcome marketing, and special events like World Cup and Euro Cup promotions help Zoomex draw and keep active customers by means of these exciting campaigns. These interesting initiatives not only encourage trade but also make people feel like they’re part of a family.

Zoomex also hosts fantastic events such as Tesla distributions, which increase user involvement even further.

The Zoomex Token

Unlike rivals that started native tokens early on, Zoomex has scheduled the release of its native token with purpose. Discovering and exchanging this new coin in 2024 will prove the platform’s aggressive expansion and innovation. We prioritize user interest and environmental sustainability with this token distribution strategy. 

Client Service, Community Engagement

Zoomex is proud of its excellent customer service. The platform offers 24/7 multilingual support to customers. In the fast-paced cryptocurrency market, where quick help could significantly affect trade outcomes, this support is very vital.

Zoomex keeps developing its platform by listening to customer comments and recommendations, thereby improving the trading experience generally.

Mobile Trading and Extra Tools

Zoomex provides a mobile application fit for both iOS and Android smartphones for traders who would want to monitor their assets on the road. Ensuring a flawless trading experience, the app reflects the capability of the desktop platform. For time-pressed traders, this is a handy choice as users may manage their portfolios from anywhere, make transactions, and track market developments.

Furthermore, the interaction with TradingView gives consumers access to a large spectrum of charts and statistics, therefore improving their trading techniques. In a tumultuous market, this strong instrument enables traders to do in-depth technical study, thereby providing the best guide to their trading strategy.

Additionally included in Zoomex is a Game Center where users may engage in activities meant to provide extra crypto incentives. This creative technique gives the trading experience more fun and dimension.

Your Best Choice

Zoomex is a comprehensive digital currency exchange that supports various types of trading techniques. It’s easy UX and UI, robust security firewalls, and top of the line customer service appeal to novice and experienced traders.

Zoomex distinguishes itself in a crowded market through unparalleled privacy, exceptional liquidity, and outstanding customer service. Experience the difference yourself—test-drive Zoomex today!

Главный юрисконсульт Ripple Labs Стюарт Алдероти пожертвовал 624 000 XRP (около $300 000) на президентскую избирательную кампанию кандидата в президенты США Дональда Трампа.

Международная организация уголовной полиции (Интерпол) объявила в розыск двух криптовалютных промоутеров из Гонконга, которые обвиняются в мошенничестве и отмывании денег через цифровые активы.