It has been a busy day in terms of news, so let us catch you up on the latest and greatest.
Today’s Agenda:
- Market Watch
- Highlights of the Day
- SEC Gives Final Approval for Spot ETH ETFs
- Mocaverse x TON
- Project of the Day
- Crypto Corner
- Market Sentiment & Predictions
- Business & Political Insights
Market Watch
Top Gainers
- Helium ($HNT): +5.5%
- LEO Token ($LEO): +2.7%
- XRP ($XRP): +2.3%
Top Losers
- Popcat ($POPCAT): -8.4%
- Lido DAO ($LDO): -8.3%
- Notcoin ($NOT): -8.0%
Trending Crypto Sectors/Categories
- Parody Meme
- PolitiFi
- Zero Knowledge (ZK)
Total Crypto Market Cap – 2.563 Trillion
Fear and Greed Index – 71
Top NFT Sale
- CryptoPunks #6695 Sold for 27.25 ETH
Highlights of the Day
SEC Gives Final Approval for Spot ETH ETFs
The SEC has approved several spot Ethereum ETFs, allowing firms like 21Shares, Bitwise, BlackRock, Fidelity, VanEck, and Invesco Galaxy to start trading them from Tuesday. This approval provides institutional investors with a new way to invest in Ethereum and is anticipated to increase market interest and drive further growth in the Ethereum ecosystem.
Potential for New Highs
Despite Ethereum struggling with the $3,500 resistance, optimism remains high. Experts believe the new ETFs could lead Ethereum to new all-time highs, highlighting its growing influence and potential for major market shifts.
Mocaverse x TON
Mocaverse and The Open Network (TON) Foundation have announced a pivotal partnership aimed at accelerating growth across their ecosystems. This collaboration seeks to enhance Web3 experiences by integrating into popular sectors such as gaming, sports, and intellectual property.
Partnership Details
The partnership is set to strengthen the Moca Network’s position as a central hub, described as a “network of networks.” TON will be instrumental in this expansion, utilizing its expertise to drive development and growth across both Mocaverse and TON ecosystems.
Project of the Day
zkSync
zkSync ($ZK) is making waves as a Layer 2 protocol designed to enhance Ethereum’s scalability and reduce transaction costs, all while upholding the core values of freedom, self-sovereignty, and decentralization. Leveraging zkRollup technology, zkSync aims to significantly increase Ethereum’s throughput without compromising its foundational principles.
In terms of price movements, $ZK holds a market cap of over $660 million and is priced around $0.18. Although the token has recently fallen 37% from its all-time high, reached just over a month ago after its TGE, the project’s future remains promising.
Another thing of note is that the project has a FDV of $2.01 billion and as such the token unlock schedule is meant to heavily influence the price in the coming months. However, due to its advanced scalability solutions, $ZK’s long-term outlook remains bullish.
Crazy Day in Crypto
- The Biden-themed Solana memecoin $BODEN has fallen 99% from its all-time high, including a 65% drop in the last 24 hours following Biden’s withdrawal.
- The Kamala Harris-inspired memecoin $KAMA has surged nearly 900% in the past week following Biden’s withdrawal from the presidential race.
Market Sentiment & Predictions
- Bernstein analysts predict that if Donald Trump wins the 2024 election, potential positive changes in crypto regulation could lead to Bitcoin surpassing $100,000 in 2025 and possibly peaking near $200,000 due to accelerated institutional adoption.
- Predictions indicate that Donald Trump’s potential presidency might influence SEC Chair Gary Gensler’s decision to resign early in 2025.
- CNBC analysts speculate that if Trump is re-elected, the US Justice Department’s 200,000 BTC could be moved to the Treasury as a reserve asset, raising speculation about Bitcoin as a reserve currency.
Business Talks & Political Insights
- CSOP Asset Management will launch Asia’s first Bitcoin futures inverse ETF, enhancing Hong Kong’s expanding crypto financial market.
Grayscale has transferred more than $1 billion worth of Ethereum ($ETH) to Coinbase ahead of its ETF trading debut tomorrow.
