Bitpush editor selects Web3 news for you every day:
[ Arkham : The US government address transferred nearly 29,800 BTC and still holds 183,439 BTC]
According to Arkham data, about 10 minutes ago, the US government address transferred 29,799.99 BTC to an unknown address, about $2.02 billion. The US government address currently still holds 183,439 BTC, about $12.35 billion.
[Analyst: The US government's transfer of $2 billion in BTC may just be a regular fund transfer]
On-chain analyst @ai_9684xtpa posted on the X platform that the US government has recently transferred $2 billion in BTC to a new address. The address transferred this time is used to store some of the tokens seized from Silk Road in November 2020 (a total of 69,369 tokens). The last operation was four months ago. This operation may be for selling, or it may just be a regular fund transfer, because there was also a wallet fund transfer operation on April 2. We need to continue to observe the follow-up situation.
[Data: DEX market share soars to a record high, surpassing CEX]
According to The Block’s data dashboard, decentralized exchanges (DEX) have reached an all-time high in market share relative to centralized exchanges (CEX).
Data shows that the monthly trading volume of DEX relative to CEX has reached an all-time high of 14.22%. The previous highest record was 13.7% in May 2023.
Since the beginning of July, the trading volume of DEX is currently US$139.67 billion, among which Uniswap has the highest monthly trading volume of US$48.52 billion, and Raydium ranks second with US$27.78 billion.
[ Elon Musk : I will not promote cryptocurrency, but I do think Bitcoin and some other cryptocurrencies have advantages]
According to The Block , Elon Musk participated in the "X Takeover" podcast hosted by Tesla owner Silicon Valley account on the X platform. When asked about his views on Bitcoin, Musk said: "I will not promote cryptocurrency - just a joke at most. If you see me promoting cryptocurrency, that's not me. I do think Bitcoin and some other cryptocurrencies have some advantages. I have a soft spot for Dogecoin because I like dogs and emoticons."
In the X Takeover podcast, Musk said that X posts may need to generate community notes faster to help eliminate posts and videos that are taken out of context. When it comes to Musk posting any news opinions about cryptocurrency on his social media platforms, Musk warned viewers to "double-check whether it is true."
Coinbase to add support for Stader (SD) on Ethereum
Coinbase announced that it will add support for Stader (SD) (ERC-20 token) on the Ethereum network, and trading will begin around 1pm Eastern Time on July 30, 2024, if liquidity conditions are met. The SD-USD trading pair will be launched in phases once sufficient supply of the asset is available. Support for SD may be limited in certain supported jurisdictions.
[ QCP Capital analyst: The crypto market needs a "more important catalyst" than Trump's Bitcoin 2024 speech]
QCP Capital analysts said in a report that the cryptocurrency market needs "a more significant catalyst" than Trump's Bitcoin 2024 speech. Analysts added that despite Trump's optimistic remarks at the Nashville conference on Saturday, Bitcoin failed to break through its all-time highs and is expected to continue to "trade in a range."
"Trump's speech was in line with industry expectations, but the market may need a more significant catalyst to achieve a major breakthrough. This catalyst may come before the US election when commitments and policies are clearer," the analysts said.
[Bernstein analyst: Cryptocurrency is no longer a "bipartisan issue", Bitcoin and related stocks will benefit]
Donald Trump outlined six cryptocurrency commitments on Saturday, including establishing a national strategic Bitcoin reserve if elected, while Kamala Harris appeared to extend an olive branch to the industry, cryptocurrencies are "no longer a bipartisan issue," and Bitcoin and related stocks will benefit from the "Trump deal," Bernstein analysts said in a report.
“We believe this olive branch from the Democrats is a little late, and the industry will seek more concrete actions (to reverse previous mistakes) before welcoming the Democratic campaign,” Bernstein analysts said.
The analyst added: “It seems clear to the crypto community and industry that crypto is no longer a bipartisan issue, with Bitcoin prices rising as the likelihood of a Trump presidency increased and trading in a range as President Biden endorsed Harris as a potential successor to the Democratic nominee. We believe that crypto markets will trade entirely on political developments until the election results are known in early November.”
[Greeks.live: This week is a big week for macroeconomics. The interest rate decisions of the Bank of Japan and the Federal Reserve are worth paying attention to.]
Adam, a macro researcher at Greeks.live, wrote on the X platform that this week is a big week for macro. Last week's Bitcoin conference released the goodwill of the US political circles towards encryption. This week's main news returned to the macro market - the interest rate decisions of the Bank of Japan and the Federal Reserve are both worthy of attention, because although market expectations are relatively consistent, once there is news that exceeds market expectations, it will be a bombshell.
There are many macro events this week, but market expectations are relatively consistent, so the IV of major maturities is far lower than the level during the Bitcoin conference last week. The cryptocurrency market has formed a wide range of fluctuations since March. BTC has approached its historical high, while ETH is relatively sluggish, with a sharp drop in exchange rates. The IV of major maturities of ETH is only slightly higher than BTC. Choosing the right IV at the right time can buy short-term options, especially short-term BTC call options. In terms of the crypto interest rate market, the Bitfinex interest rate market is relatively quiet, with occasional good interest rate orders. If you encounter a suitable interest rate order, you can actively trade it.
Author: BitpushNews Mary Liu
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