Ether ETFs on the move, Messi promotes memecoin, and more: Hodler’s Digest, July 7-13
Ether ETFs on the Move Asset managers VanEck and 21Shares have updated their S-1 forms for prospective Ether exchange-traded funds (ETFs) with the US Securities and Exchange Commission as of July 8. Although a specific launch date is yet to be provided, experts suggest a potential July launch for the Ethereum ETFs.
Lionel Messi Promotes Memecoin Soccer star Lionel Messi has been in the spotlight for promoting WaterCoin, a Solana-based memecoin, on his Instagram stories. WaterCoin claims to focus on water conservation and related ecological issues, aspiring to evolve into a comprehensive ecological coin. However, investors are reminded of the substantial risks associated with memecoins and to conduct thorough research before investing.
Bitcoin Transfer Fee Drops The average Bitcoin transfer fee dropped to a 2020 low of $38.69 on July 7. This metric, calculated by dividing miner profits by the total successful transactions on the blockchain, indicates a significant reduction in fees. Additionally, data from CryptoQuant reveals that Bitcoin's hashrate drawdown has reached December 2022 levels, suggesting mining operations are under pressure.
Goldman Sachs Eyes Tokenized Products Goldman Sachs plans to launch three tokenized products for the US and European markets this year. Matthew McDermot, Goldman’s global head of digital assets, announced plans for an institutionally focused marketplace for trading tokenized real-world assets (RWA), marking the investment bank's foray into the RWA tokenization industry.
FDIC Nominee Supports Crypto Custody by Banks During a nomination hearing on July 11, FDIC chair nominee Christy Goldsmith Romero expressed support for banks to custody crypto assets. Her statement came in response to a query from Senator Cynthia Lummis, highlighting the ongoing interest and discussion around digital assets in US regulatory circles.
Bitcoin Market Analysis According to CryptoQuant, Bitcoin may face a correction similar to Summer 2021. The Profit & Loss metric indicates Bitcoin is near its 365-day moving average, suggesting potential downside risks. Despite ongoing whale accumulation, selling pressure from the German government and the Mt. Gox reimbursement plan could drive prices lower. The Bull-Bear indicator suggests bears are gaining control, with Bitcoin trading near the 200-day simple moving average, pointing to current price weakness.
#Web3.0 #NFT #Blockchain #Crypto #Cryptocurrency #AI #Metaverse #OpenSea #AR
