Bitcoin's price dipped to $64,100 amid market turbulence. Ethereum ETFs saw $107 million in inflows but $113 million in outflows. Spot Bitcoin ETFs hit $17 billion in net inflows. A Brazil-based scam defrauded $8.4 million. The 2024 elections could impact crypto regulations. Ethereum rollups and Starknet make notable moves.
Here is a roundup of the latest developments in the cryptocurrency market:
- Bitcoin (BTC) Price: Bitcoin's price has experienced a slight decline, dropping to $64,100 in the early hours of Thursday, July 25, 2024, amid turbulence in Asian markets as well as strong US GDP data amongst other factors.
- Ethereum ETFs: Ethereum ETFs launched with strong initial interest, drawing $107 million in inflows. However, the enthusiasm waned quickly, with $113 million in outflows recorded on the second day.
- Spot Bitcoin ETFs: Spot Bitcoin ETFs have achieved significant momentum, reaching $17 billion in net inflows, highlighting strong market interest.
- Crypto Scams: A concerning development in the crypto space involves a Brazil-based swindle that has defrauded Spanish-speaking investors worldwide of approximately $8.4 million.
- Regulation: The upcoming 2024 elections across the US, Asia, Europe, and Africa are expected to have a substantial impact on the global regulatory landscape for Bitcoin and other cryptocurrencies.
- Ethereum Rollups: Ethereum rollups have witnessed a notable decline in unique depositors, signalling potential shifts in user engagement within the Ethereum ecosystem.
- BlackRock’s BUIDL: BlackRock's BUIDL initiative is set to join MakerDAO's $1 billion tokenized treasury investment plan, marking a significant move in institutional crypto investment.
- Starknet: Starknet is gearing up to introduce staking to its ecosystem, expanding its suite of features and potentially enhancing user engagement.
Stay tuned for more updates and insights into the ever-evolving crypto landscape!
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