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Daily #Web3 Market

9 Jul 2024

Retail Bitcoin holders intensify accumulation amid dip

Retail Bitcoin investors, also known as the “Shrimp” cohort, are increasing their Bitcoin holdings during the market dip. Historically, these investors add to their balance aggressively, especially during periods of high volatility. Read more .

BlackRock’s BUIDL Fund Tops $500M as Tokenized Treasury Market Soars

BlackRock’s BUIDL Fund has surpassed $500 million, contributing to the growth of the tokenized U.S. Treasury products market, which has reached $1.8 billion. This milestone was achieved in less than four months since the fund’s launch in April. Read more .

Bitcoin Drops as German Government Unloads Over $900M Worth of BTC

Bitcoin’s price briefly fell to $55,000 as the German government transferred over $900 million worth of Bitcoin to centralized exchanges, indicating plans to sell its remaining $1.3 billion in BTC holdings. Read more .

Bitcoin Climbs Over $57K, With Some Saying Mt. Gox Sales Already ‘Priced In’

Bitcoin’s price climbed past $57,000, with market analysts suggesting that the ongoing Mt. Gox repayments have already been factored into the current price, alongside potential impacts from U.S. policies. Read more .

Ether Retakes $3K Amid Signs of Seller Exhaustion Before ETF Debut

Ether prices have rebounded to over $3,000, as discounts in the Grayscale Ethereum Trust and positive indicators from Coinbase suggest a reduction in selling pressure ahead of the anticipated ETF debut. Read more .

Bitcoin Mining Profitability Rose in June as Market Adjusted for the Halving: Jefferies

Bitcoin mining profitability increased in June as U.S.-listed mining companies expanded their capacity, benefiting from a drop in the network hashrate following the halving event. Read more .

Bitcoin’s sell-off could put ETF shares on the discount rack

Bitcoin’s recent sell-off could present a buying opportunity for investors to purchase Bitcoin ETF shares at discounted prices. Read more .

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