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Last week, the SPX index was up by 1.95%, followed by slowing US economic data that suggested earlier Federal Reserve rate cuts. Key earnings from companies such as JPMorgan Chase, Citigroup, and PepsiCo are expected this week, alongside the release of June's consumer inflation figures. The broader cryptocurrency market was down, with Bitcoin and Ether dropping by 0.81% and 1.28%, respectively, in the past 24 hours.
Today's top performer is SAGA, which surged 14.9% following the announcement of the SAGA x BullRun Bonanza Tournament, offering participants a chance to win $25,000.
Saga (SAGA), founded in 2021, is a Layer 1 blockchain protocol that allows developers to create customized chains for their applications, providing shared security and scaling solutions. Recently, the SAGA x BullRun Bonanza Tournament was announced, featuring a $25,000 prize pool. To participate, entrants must verify their entry pass NFTs, add the Bullieverse chainlet to MetaMask, create a Beyond Gaming Passport, and download the BullRun game on their mobile device. After logging in with their Beyond Gaming Passport, participants can join the tournament through the game's Competitions page.
Check Out the Latest Prices, Charts, and Data of SAGAUSDT Perp!
Tron, led by founder Justin Sun, is developing a gas-free stablecoin transfer mechanism for both the Tron and Ethereum chains, aiming to enable free peer-to-peer transfers. Sun plans to launch this solution on the Tron blockchain in the fourth quarter, with subsequent expansion to Ethereum and other Ethereum Virtual Machine-compatible chains. The stablecoin will cover transfer fees itself, although the specific mechanism wasn't detailed. This initiative could challenge existing services like PayPal's PYUSD and Coinbase's free transfers via Circle's USDC on Ethereum layer-2. Additionally, Tron is exploring a Bitcoin layer-2 solution for a "wrapped" version of Tether to facilitate cross-chain token flows, enhancing its competitive stance in the blockchain space.
Date | GBTC (M USD) | Non-GBTC (M USD) | Total (M USD) |
01 July 2024 | 0.0 | 129.5 | 129.5 |
02 July 2024 | (32.4) | 18.7 | (13.7) |
03 July 2024 | (27.0) | 6.5 | (20.5) |
04 July 2024 | - | - | 0.0 |
05 July 2024 | (28.6) | 114.5 | 143.1 |
Total | (88) | 269.2 | 238.4 |
Bitcoin ETFs garnered $143.1 million in inflows on July 6, 2024, following a dip in Bitcoin prices. Leading the surge were the Fidelity Bitcoin ETF with $117 million and the Bitwise Bitcoin ETF with $30.2 million, which now holds over 38,000 Bitcoins. Conversely, the Grayscale Bitcoin Trust faced a $28.6 million outflow. This activity highlights renewed investor confidence and strategic buying post-U.S. Independence Day, with Bitwise’s CEO emphasizing the opportunity for new investors at current low prices.
Carv, a modular data layer for gaming and AI, has launched an airdrop campaign for its $CARV tokens. Backed by major investors like ConsenSys and Alibaba, Carv has secured $50 million in funding. Participants can join the airdrop by connecting a MetaMask wallet, minting a Carv ID, mint your. Play Name on the opBNB chain, claiming SOUL daily, staking SOUL, voting, and completing tasks like social media engagement. More SOUL equates to a larger airdrop allocation. Full participation details are available at this link.