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Daily #Web3 Market

18 Jun 2024:

Demand for stablecoins grows as market prepares for volatility

A steady increase in the circulating supply of stablecoins shows an increasing demand for these assets. It suggests that more traders and investors are preparing to enter the market or facilitating more trading activity. The increase in the aggregate circulating supply of stablecoins over the last six months represents a significant development. Read more

Rising Ethereum futures open interest highlights impact of SEC’s ETF approval

Ethereum futures open interest has shown substantial volatility throughout 2024, significantly influenced by recent regulatory developments. Following the approval of spot Ethereum ETFs by the US Securities and Exchange Commission (SEC), open interest in Ethereum futures surged, reaching new highs. Read more

Bitcoin Bounces to $67K with BTC Miners Rallying 5%-10%; XRP Leads Altcoins

As Bitcoin's volatility nears historically low levels, the crypto market seeks news or catalysts to stimulate trading. Miners saw a rally of 5%-10%, contributing to Bitcoin's bounce to $67K, with XRP leading the altcoins. Read more

Bitcoin Investment Products Saw Over $600M in Outflows Last Week: CoinShares

Crypto markets have been affected by a hawkish stance on interest rate cuts by the FOMC, leading to over $600 million in outflows from Bitcoin investment products last week. Read more

U.S.-Listed Bitcoin Miners Reached Record Total Market Cap of $22.8B in June: JPMorgan

Publicly traded Bitcoin mining companies in the US reached a combined market cap of $22.8 billion amid a surge in their stock price during June, driven by increased network hashrate share and diversification into AI data. Read more

Protocol Village: Synthetix Launches on Arbitrum, Adding to Chains Beyond Ethereum

Synthetix has launched on Arbitrum, extending its presence beyond Ethereum and enhancing its capabilities within blockchain technology. Read more

Bitcoin price ‘clusters’ hint at more downside: Is BTC about to lose $64K support?

Bitcoin could fall below $64,000 before entering the “parabolic phase” of the current bull cycle. Read more

Ethereum poised to 50% surge this year against Bitcoin — Fractal analysis

The ETH/BTC trading pair is forming a classic bullish reversal pattern similar to the one from 2019–2021, which led to 140% price gains for Ether. Read more

Corporate adoption is in ‘amateur league’ despite Bitcoin ETFs

Corporations could pave the way toward more mainstream crypto industry trust, according to the co-founder of Trust Square. Read more

Digital asset funds see biggest weekly outflow since March

According to data from a CoinShares report, weekly total outflows for digital asset funds hit $600 million on June 14. Read more

Price analysis 6/17: SPX, DXY, BTC, ETH, BNB, SOL, XRP, TON, DOGE, ADA

Bitcoin is facing intense selling pressure, but charts suggest strong support at $64,500 and again at $60,000. Read more

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