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Last week, the SPX index was down by 2.06%, this drop contributed to heightened concerns about a potential US economic downturn, as broader market indices showed signs of struggle. Investors are keeping a close watch on upcoming economic indicators, including US services PMI data, to gauge the economy's health and anticipate the Federal Reserve's interest rate decisions. The broader cryptocurrency market was down, with Bitcoin and Ether dropping by 6.71% and 14.45%, in the past 24 hours.
Today's top performer is GFT, which surged 14.9% following the launch of Gifto's new bridge product.
Gifto (GFT), launched in 2017, is a blockchain-based gifting platform It allows users to create and share custom NFTs, like artwork and e-cards. The platform also offers staking to earn GFT tokens, yield farming, and a store for trading crypto assets. It is a multi-chain, self-sustaining web3 ecosystem. Recently, Gifto announced their new Bridge product, inviting their followers to try it out by visiting their link https://swap.gifto.io/bridge.
Check Out the Latest Prices, Charts, and Data of GFTUSDT Perp!
Jump Crypto, associated with Jump Trading, is actively liquidating substantial crypto holdings, particularly after the recent U.S. launch of spot ether ETFs. Blockchain data indicates transfers worth approximately $300 million from exchange wallets to Jump's accounts and $80 million back to exchanges, mainly involving ether. This follows the departure of Jump Crypto's President, Kanav Kariya, amid a regulatory investigation into the firm's activities. The crypto market continues to decline, affecting prices across various digital assets, especially DeFi tokens.
Date | GBTC (M USD) | Non-GBTC (M USD) | Total (M USD) |
29 July 2024 | (54.3) | 178.4 | 124.1 |
30 July 2024 | (73.6) | 55.3 | (18.3) |
31 July 2024 | 0.0 | 0.3 | 0.3 |
01 August 2024 | (71.3) | 121.9 | 50.6 |
02 August 2024 | (45.9) | (191.5) | (237.4) |
Total (Weekly) | (245.1) | 164.6 | (80.7) |
Total (Inception-to-date: | (19,059) | 36,567 | 17,508 |
On August 2, 2024, Bitcoin ETFs experienced significant net outflows totaling -$237.4 million, according to Farside Investors. The major outflows included FBTC with -$104.1 million, ARKB with -$87.7 million, and GBTC with -$45.9 million. Conversely, IBIT and BTC saw inflows of $42.8 million and $9.9 million, respectively, while other ETFs like BTCO, EZBC, and BTCW recorded no changes.
Super Champs is launching a free airdrop of 40 million $CHAMP tokens through its mobile game and entertainment franchise on the Base chain. The platform, backed by notable entities like Coinbase and Solana, integrates NFTs and play-to-earn elements to engage athletes, fans, and stakeholders. Participants can earn points by completing tasks via the provided link, with the potential to claim additional tokens by holding the Super Champs Genesis NFT. Season 1 of the points program is set to conclude at the end of Q3 this year. Interested users are advised to log in, connect their MetaMask wallet, and complete quests to maximize their rewards.