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Daily #Web3 Market

12 June 2024:

ProShares files S-1 for spot Ethereum ETF, expands on BNY Mellon and Coinbase roles

ProShares has filed an S-1 registration statement for its spot Ethereum ETF, elaborating on the roles of fund participants. Coinbase Credit will act as the trade credit lender, and Bank of New York Mellon will be the ETF's custodian. Read more

Billionaire investor Bill Miller believes Bitcoin is ‘significantly undervalued’ at current market cap

Bill Miller, Chairman and CIO of Miller Value Partners, asserts that Bitcoin is significantly undervalued despite its gains against fiat currencies. He predicts a major shift in global capital towards Bitcoin. Read more

Bitcoin futures show notable growth in cash-margined contracts

Bitcoin futures have seen a significant increase in cash-margined contracts. Data indicates that open interest has risen to over 345,000 BTC, marking a substantial growth from previous levels. Read more

Bitcoin Pullback to $66K Triggers $250M in Crypto Liquidations as Traders Brace for 'Wild Wednesday' of FOMC, CPI Report

Bitcoin's drop to $66K resulted in $250 million in crypto liquidations. Traders are preparing for potential market volatility due to the upcoming Federal Open Market Committee (FOMC) and Consumer Price Index (CPI) reports. Read more

Crypto Mixers, Privacy Coins, Layer 2s Complicate Tracing for Law Enforcement, EU Innovation Hub Says

The EU Innovation Hub for Internal Security has raised concerns about the challenges crypto mixers, privacy coins, and layer-2 networks pose to law enforcement's ability to trace illicit activities. Read more

Metaplanet Discloses $1.6M BTC Purchase; Shares Jump 10%

Japanese investment firm Metaplanet has revealed an additional Bitcoin purchase worth $1.6 million, increasing its total holdings to 141 BTC. This news resulted in a 10% rise in Metaplanet's shares. Read more

Polygon Creates New Grants Program, 1B POL Unlocked Over 10 Years

Polygon has launched a new grants program with 1 billion POL tokens to be distributed over ten years to support developer initiatives on its blockchain. Read more

First Mover Americas: Bitcoin Falls Below $67K as ETFs' Inflows Streak Ends

Bitcoin's price dropped below $67K, ending the streak of inflows into Bitcoin ETFs. This decline is part of broader market trends impacting crypto assets. Read more

Fed Should Cut Interest Rate as Restrictive Stance Adds to Inflation, Democrats Say

Three Democrat senators argue that the Federal Reserve's high interest rates, intended to curb inflation, are exacerbating the issue and advocate for rate cuts. Read more

Bitcoin ETFs See $65M Net Outflows on Monday, Breaking 19-Day Record Streak

Bitcoin ETFs experienced $65 million in net outflows, ending a 19-day streak. Grayscale's GBTC saw the most significant outflows, while Bitwise's BITB led inflows. Read more

Here’s what happened in crypto today

Stay updated with the latest developments in the crypto market, including major price movements, regulatory changes, and industry news. Read more

Polygon launches $720M Community Treasury for blockchain grants

Polygon has established a $720 million Community Treasury to fund blockchain projects, targeting developers within the Polygon and Ethereum ecosystems. Read more

EU elections 2024: Pro-crypto parties pick up seats amid Green losses

The 2024 European elections saw several pro-crypto parties gain seats, while the Green party experienced losses, signaling a shift in the political landscape. Read more

Bitcoin price hits new June lows while open interest stays above $35B

Bitcoin's price continues to decline, reaching new lows for June, while open interest remains above $35 billion, raising concerns among market participants. Read more gains approval from Ireland’s central bank has secured approval from the Central Bank of Ireland to operate as a Virtual Asset Service Provider (VASP), expanding its regulatory compliance footprint. Read more

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