Cryptocurrency Market Performance

Currently, the total market capitalization of cryptocurrencies is $2.34 trillion, with BTC accounting for 53.8% at $1.26 trillion. The market capitalization of stablecoins is $154.6 billion.

This week, the price of BTC, by the U.S. Bitcoin Spot ETF 1.2451 billion dollars of net inflows (excluding ARKB July 18, 19 data), and the potential selling pressure to reduce the situation, the price has a certain amount of increase, the BTC price from the July 15 of $60,000 once exceeded $67,000, ETH also exceeded $3,500. it is worth mentioning that the five ethereum spot ETFs will be released on July 23, and the price of BTC will be increased by $4,000 to $4,000, and the price of ETH will be increased by $3,000 to $4,000. ETFs will start trading on July 23rd (next Tuesday).

This week, Coinmarket cap market capitalization of the top 200 projects, the price of the general rise, MEME series of tokens performance, WIF's 7 days up 56.87%, MEW 7 days up 45.47%, Trump series of tokens FIGHT, Base mascot MIGGLES have a good performance, but MEME tokens are mainly affected by the heat and fluctuation is too large, investment should be cautious.

The 'Fear & Greed Index' of July 20 is 74 (market sentiment is much more moderate than last week), with 1 day of fear, 2 days of neutrality and 4 days of greed this week. The market is showing a rebound.

Understanding the present

A look back at the week's big events

1. CoinShares reported $1.44 billion in inflows into digital asset investment products, with year-to-date inflows at a record high of $17.8 billion;

2. on July 15, Bitcoin saw weekly inflows of $1.35 billion and weekly outflows of $8.6 million for shorting Bitcoin; Ether saw weekly inflows of $72 million, likely driven by expectations of approval of a spot ETF;

3. $732 million of short orders are expected to be liquidated if Bitcoin price breaks above $65,000; $942 million of long orders are expected to be liquidated if it falls to $61,000;

4. Mt. Gox addresses have transferred large amounts of BTC to other addresses with a total value of approximately $5.7 billion;

5. the U.S. SEC has given preliminary approval to at least three ETH ETF issuers, including BlackRock;

6. Bitwise expects the U.S. ethereum spot ETF to help push ETH past new all-time highs;

7. LI.FI announced that the protocol is fully back up and running and will continue to track and recover funds;

8. zkLink announced that Novadrop's first round of ZKL token claims will open on July 22nd;

9. arthur hayes family office maelstrom launches bitcoin developer funding program;

10. binance responds to Bloomberg's statement of apology: it will continue to focus on providing the best service and innovation to its users;

11. on July 18, WazirX was attacked with over $230 million worth of stolen assets, the attack may have been caused by the compromise of the private keys of multi-signature wallet administrators;

12. the TON Foundation is launching the TON Teleport, designed to connect Bitcoin to the TON ecosystem;

13. polygon is proposing to convert MATIC to POL on september 4;

14. the ether.fi Foundation went live with the pledge function for ETHFI tokens and also launched the ETHFI token buyback program;

15. the Sei Foundation launched its $50 million Japan Ecosystem Fund;

16. on July 19, data statistics showed that the U.S. Bitcoin ETF had 10 consecutive trading days of net inflows totaling $2.052 billion;

17. the Layer3 Foundation is about to release its initial L3 token allocation checker;

18. that Fuel plans to go live on its main network in early Q4, with a snapshot of the test network now complete;

19. an attack on the WazirX platform, an Indian trading platform, resulted in the loss of over $230 million in funds;

20. on July 20, according to the official information of the Chicago Board Options Exchange (Cboe), the platform has confirmed that five spot Ether ETFs from VanEck, Invesco, Fidelity, 21Shares, and Franklin Templeton will start trading on July 23 (next Tuesday).

Macroeconomics

1. 18 July, according to the SEC's official website, the SEC's closed meeting scheduled for 2 p.m. ET today has been canceled;

2. July 18, the U.S. Securities and Exchange Commission (SEC) has approved the listing of Grayscale Ethereum Mini Trust and ProShares Ethereum ETF, two spot Ether ETFs, on the New York Stock Exchange's (NYSE) Arca electronic trading platform, according to official SEC filings;

3. July 16, according to CME's “Fed Watch”: the probability that the Fed will leave interest rates unchanged in August is 91.2%, and the probability of a 25 basis point cut is 8.8%;

4. on July 18, according to CME 'Fed Watch': the probability that the Fed will cut rates by a cumulative 25 basis points by September is 93.5%;

5. on July 18, Donald Trump formally announced his acceptance of the Republican nomination for the U.S. presidential nomination

6. on July 19, U.S. SEC Chairman Gary Gensler once again issued a 'Crypto Investment Fraud Warning' on social media, citing an article published in May of this year that laid out 5 ways fraudsters may lure victims into scams involving crypto-asset securities.

ETF

According to statistics, during the period of July 15-19, the U.S. Bitcoin Spot ETF saw a net inflow: $1,245.1 million; GBTC (Grayscale) had a total outflow of: $18,694 million as of July 19, and is currently holding $18,281 million, while IBIT (BlackRock) is currently holding $21,845 million. Total market capitalization of U.S. Bitcoin Spot ETFs is: $62.748 billion.

Foreseeing the Future

Upcoming Events

1. Bitcoin2024 Nashville will take place July 25-27, 2024 at the Music City Center in Nashville, Tennessee, with the core focus being entirely on Bitcoin;

2. EDCON 2024 takes place July 26-30 in Tokyo, Japan. EDCON is an annual ethereum community development conference designed to invite influential industry leaders and projects from around the world to attend and share information. The event consists of 5 days of workshops, gatherings, and presentations from industry leaders;

3. HackaTRON Season 7, hosted by TRON DAO, will be open for submissions from July 25 to October 8, 2024, with a pre-selection period from October 9 to 23, a judging and community voting period from October 24 to 31, and the winners announced on November 13th.

Project Progress

1. Paradigm announced that it will launch Paradigm Fellowship 2024 from September 25-29, and applications are now available until July 22. Paradigm Fellowship is a program that brings together cryptocurrency game engineers and researchers;

2. yield trading protocol pendle launched a new sUSDe pool expiring on july 25, 2024, offering 20x sats per day plus USDe pledge returns;

3. the Solana DeFi derivatives platform Zeta Markets Genesis Epoch will begin on July 25th with an incentive of 8 million ZEX, and pledge ZEX before July 25th to qualify for a pledge airdrop (20 million ZEX). 4. the Ether Re-Pledge program will begin on July 25th and will begin on July 25th;

4. Renzo ezPoints Season 2, an Ethernet repledging agreement, will run for three months until July 26th, with a proposed allocation of 5% of the token supply (500 million REZ), while Season 1 participants will receive an additional 10% bonus.

Important Events

1. The Reserve Bank of New Zealand's consultation on the opening of digital cash closed on July 26, with the consultation document asking the country's citizens to respond to questions about the design of digital cash, whether interest should be paid, and whether there should be holding restrictions.

Token Unlocking

1. Worldcoin Token WLD will be unlocked on July 24th with 25.53 million coins, valued at about 73 million USD, accounting for 9.18% of the outstanding quantity.

2. AltLayer Token ALT will be unlocked on July 25th with 684 million tokens, valued at about US$104 million, accounting for 42.08% of the outstanding quantity.

About Us

Hotcoin Research, as the core investment research department of Hotcoin, is dedicated to providing comprehensive and professional analysis of the crypto market. Our goal is to offer clear market insights and practical operational guidance for investors at all levels. Our professional content includes "Play to Earn Web3" tutorial series, in-depth analysis of crypto market trends, detailed analysis of potential projects, and real-time market observations. Whether you are a newcomer exploring the crypto world or a seasoned investor seeking deep insights, Hotcoin is your reliable partner for understanding and seizing market opportunities.

Risk Disclaimer

The crypto market is highly volatile, and investment involves risks. We strongly advise investors to fully understand these risks and operate within a strict risk management framework to ensure the safety of their funds.

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