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Daily #Web3 Market

10 Jun 2024

Post-halving volatility triggers significant Bitcoin futures liquidations

Bitcoin experienced notable price fluctuations post-halving, with significant spikes in futures long liquidations. The price dropped from around $60,000 in mid-May to below $55,000 by early July, indicating high market volatility. Read more

US national debt equates to 614 million Bitcoin at current prices

An infographic from Jeff Park, head of alpha strategies at Bitwise, highlights that Bitcoin ETFs have accumulated a significant amount of Bitcoin, equating the US national debt to 614 million Bitcoin at current prices. Read more

Rome Protocol secures $9 million to bring Solana capabilities to Ethereum Layer-2

Rome Protocol has secured $9 million to integrate modular services from Solana into Ethereum’s ecosystem. Investors in the round included Hack VC, Polygon Ventures, HashKey, and others. Read more

What Still Needs to Happen Before Spot Ether ETFs Can Trade

Despite the excitement around spot Ether ETFs, several regulatory steps remain before they can launch. The SEC and ETF issuers are addressing fewer issues in each amendment, indicating progress. Read more

Ether ETF Fee Race Begins as Invesco Reveals 0.25% Charge, Slightly Higher Than VanEck

Invesco has set the fee for its Ether ETF at 0.25%, slightly higher than VanEck, as competition among ETF issuers intensifies. Read more

Former FTX Execs Nishad Singh, Gary Wang to Be Sentenced Later This Year

Former FTX executives Gary Wang and Nishad Singh are scheduled to be sentenced later this year. Wang’s sentencing is set for November 30, while Singh’s is on October 30. Read more

Blockchain Startup Rome Raises $9M to Serve Ethereum Layer-2s Through Solana

Rome has raised $9 million to provide shared sequencers and data availability services for Ethereum Layer-2 networks through Solana. Read more

Bitcoin Cash’s Mt. Gox-Led Sell-Off Is Amplified by Poor Liquidity

The sell-off of Bitcoin Cash (BCH) led by Mt. Gox was exacerbated by poor liquidity, leading to increased slippage and market volatility. Read more

Drop in Bitcoin Mining Difficulty ‘Comparable to FTX Collapse,’ CryptoQuant Says

Bitcoin’s mining difficulty has dropped significantly, hitting miners’ profitability and reducing daily revenues from $78 million to $26 million. Read more

Bitcoin ETF Traders Buy the Dip With Nearly $300M Inflows

Bitcoin ETF traders have capitalized on recent price dips, resulting in nearly $300 million in inflows, the highest since early June. Read more

Australian Securities Exchange Gives Green Light to DigitalX’s Bitcoin ETF

The Australian Securities Exchange has approved DigitalX’s Bitcoin ETF, which will trade under the ticker BTXX. Read more

Bitcoin, Ether Reverse Losses as Germany Gets Back $200M BTC From Exchanges

Bitcoin and Ether reversed losses after the German Federal Criminal Police Office recovered $200 million worth of BTC from exchanges. Read more

VanEck, 21Shares Solana ETF Plan Confirmed in Cboe Filing

VanEck and 21Shares have confirmed their plan to launch a Solana-based ETF, as per a filing with the Chicago Board Options Exchange. Read more

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