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Comparative chart of the potential price of bitcoin as a result of the Bitcoin ETF compared to the price of gold as a result of the Gold ETF


The list of applications to launch spot Bitcoin ETFs in the United States has been supplemented by another relevant document. It was filed by Swiss asset management company Pando Assets, which already deals with ETPs (exchange traded products) on cryptocurrencies in Europe.

As Bloomberg analyst Eric Balchunas noted, the decision seems odd. Still, it's unclear what the company has been waiting for the last few months after BlackRock and other global giants filed similar applications.


Another sign of an improving situation in the cryptocurrency industry is the growth in the number of so-called cryptomats, that is, devices for transferring fiat currencies into coins and back. According to the Coin ATM Radar platform, the figure now exceeds 33 thousand units.

Its local bottom in this bearish trend was recorded in July 2023. At that time, there were just under 32 thousand such devices worldwide.


The irony is when European Central Bank officials tweet about Bitcoin's supposedly "last gasp before the crypto-asset loses its relevance." And then it turns out that the day the tweet was published was the bottom of the market on the current bear trend 🙈


But now Bitcoin is less than 50 percent behind its all-time high 👀


Tonight, the owner of the Bitcoin address "17TZNT" moved 2995 BTC, which he bought in 2016 at a rate of $458. Before this, the last transaction was carried out by him in September 2017, so the hold lasted more than six years.

If the coins are now sold, the profit on them is almost $82 million. Initially, in 2016, the investor invested 1.46 million in 3200 BTC.

Fine.


Interesting data from chainalysis. In lower-middle-income countries, cryptocurrency activity is still higher than before the boom.


In recent weeks, the share of Bitcoin trading on American crypto exchanges has increased from 39 to 46 percent. According to experts, such activity is caused by expectations regarding the approval of spot ETFs for BTC in the United States. Well, the trend intensified after Grayscale’s recent victory in court against the SEC.


Bitcoin's 90-day volatility has fallen from 80 percent to 35 percent over the past year. Therefore, now the cryptocurrency is more stable in its price compared to oil.

The least volatile of the listed assets on the chart from Kaiko is gold.


Ripple XRP was the most popular crypto asset in terms of trading volumes in August. The average daily amount of transactions with the coin was 462 million dollars, and this was clearly facilitated by the recent court verdict that it is not a security.

The top three also included Solana and BNB.


The current collapse of ETH below $1650 has led to the activation of large investors. For example, the number of addresses with 10,000 to 10,000 ethers has increased by 1,788 units since the beginning of June.

The number of large transactions in the equivalent of $100,000 has also increased. Last week there were 23 thousand of them, which is the largest result since the beginning of May.




Here's a list of current applications to launch spot Bitcoin ETFs. This includes all deadlines for the relevant responses from the U.S. Securities and Exchange Commission.

As noted by Bloomberg analyst James Seyffarth, he estimates the prospect of approval of applications from BlackRock and ARK Invest at 50 percent.


About 600 days have passed since Bitcoin peaked at $69,000. During that time, long-term investors have added 1.01 million BTC to their holdings.

Now they have 14.47 million coins, only 20 thousand behind the historical maximum.

Recall, long-term investors are those addresses who have not moved their cryptocurrencies for at least six months.


Cryptocurrency is also being accumulated by Bitcoin address holders who have between 100 and 1,000 BTC. In total, they redeem about 36 percent of the coins mined by miners over the course of a day.

At the same time, so-called whales who have at least a thousand bitcoins are getting rid of the cryptocurrency. Their sales volume is equivalent to 70 percent of the coins mined.

Such is the difference.


Here's a chart from IntoTheBlock analysts with the number of bitcoins that have been stored at their owners' addresses without any movement for at least a year. This week, the corresponding figure set another record in the history of BTC.

That means investor confidence in the first cryptocurrency is higher than ever.


The hacking of the popular decentralized wallet Atomic Wallet resulted in $35 million in losses for users, according to preliminary estimates. The developers say the incident affected less than one percent of monthly active users.

Only cold wallets protect your funds reliably, but even they get questioned from time to time. That's why broad diversification of your portfolio is the only right thing to do.


The number of NFTs based on the Ordinals protocol in the Bitcoin network has exceeded the level of 10 million units! The 9 million level was taken last Wednesday, so the rate of NFT creation in this blockchain has dropped a bit.

But still not bad.


Binance Australia Users Selling Bitcoin (BTC) A$9000 At Discount, Know Why

https://bit.ly/3qgrSWy


Meanwhile, the market believes that at the next meeting of the Federal Open Market Committee (FOMC) on June 14, 2023 the representatives of the Fed may raise the base interest rate by another 25 basis points. It's all caused by problems in the global economy and the prospect of default on U.S. government debt.

This is bad news, because market participants earlier expected the situation with the rate to normalize. It was supposed to remain the same after the first summer meeting, and then go to the decline.

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