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Daily #Web3 Market

2 July 2024:

VanEck’s 2024 Bitcoin outlook impresses with accurate forecasts

At the end of 2023, VanEck made 15 ambitious predictions for the digital assets market in 2024. Several of these forecasts have been impressively accurate so far. Read more

DePIN: It’s Time for Crypto to Get Real

Decentralized Physical Infrastructure Networks (DePIN) are emerging as real-world applications for crypto, offering practical and valuable use cases. Read more

Crypto Spot ETFs Will Have More Influence on Market’s Price Action: Canaccord

Canaccord Genuity reports that the introduction of crypto spot ETFs, especially Ether ETFs, will significantly impact market price action by broadening institutional interest in digital assets. Read more

Market Confidence Could Quickly Crumble, BIS Warns Indebted Nations

The Bank for International Settlements (BIS) warns that high levels of fiscal debt and premature rate cuts could lead to a swift loss of market confidence among heavily indebted nations. Read more

Abra Launches Treasury Service for Corporates That Want to Hold Crypto

Abra has introduced a new treasury service for corporates, family offices, and non-profits, providing digital asset treasury management solutions. Read more

Prime Broker Hidden Road Adds Major Crypto Exchanges, Expands Use of BlackRock’s BUIDL Token

Hidden Road has integrated with several major crypto exchanges and expanded the use of BlackRock’s BUIDL Token, enhancing its prime brokerage services. Read more

Bitcoin’s Potential Rebound May Face Resistance at $65K, OnChain Analysis Shows

On-chain analysis indicates that Bitcoin’s potential rebound might face significant resistance around the $65,000 mark due to short-term holders liquidating their positions. Read more

Bitfarms mined 21% more Bitcoin in June amid Riot takeover attempts

Bitfarms reported a 21% increase in Bitcoin production in June, amidst ongoing takeover attempts by Riot Platforms. Read more

Bitcoin hashrate drawdown reaches December 2022 levels

Bitcoin’s hashrate drawdown has reached levels last seen in December 2022, signaling potential accumulation opportunities. Read more

Ether investment products record largest outflows since 2022

Ether investment products have experienced their largest outflows since 2022, contrasting with movements in Bitcoin and other cryptocurrencies. Read more

Experts say latest SCOTUS opinions will limit SEC power over crypto

Recent U.S. Supreme Court opinions are expected to limit the SEC's power to regulate the crypto market, potentially altering enforcement strategies. Read more

EU MiCA stablecoin regulations come into effect: Law Decoded

The EU’s MiCA regulations for stablecoins have come into effect, potentially leading to the exit of non-compliant issuers and an increase in euro-backed stablecoins. Read more

Coinbase will custody digital assets for US Marshals Service

Coinbase has been selected by the US Marshals Service to provide custody and advanced trading services for large-cap digital assets. Read more

Dogwifhat jumps 16% — WIF price eyes more gains as Solana ETF hype grows

Dogwifhat (WIF) has surged 16% as hype around a potential Solana ETF grows, with the memecoin entering a breakout stage. Read more

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