Crypto Pulse——7/30 Market Trends and Hot Project Analysis

Preface:
Bitcoin and Ethereum have fallen by 4.24% and 0.51%, respectively, in the past 24 hours, with the ETH/BTC rate holding at 0.05. The crypto market Fear & Greed Index remains at 67, indicating greed.

Spot Bitcoin ETF Flows

The US Bitcoin spot ETFs saw a net inflow of $124.1 million yesterday. Notably, BlackRock’s IBIT had a net inflow of $205.6 million, while Grayscale’s GBTC experienced a net outflow of $54.3 million.
The crypto market showed mixed trends yesterday. The market started strong, with Bitcoin peaking at $70,000, the highest in two months, but later saw significant declines, with Bitcoin prices falling back to the $66,000 to $67,000 range. The primary cause of this volatility was a large transaction from a US government address, moving nearly 30,000 Bitcoins, valued at over $2 billion. Despite the transaction occurring OTC, it caused panic, leading to a notable market pullback.

Check Out the Latest Prices, Charts, and Data of BTC/USDT Spot and BTCUSDT Perp!

Daily Spotlight

Today’s best performer is BOME, which saw a 24-hour increase of 11.6%, currently priced at $0.010418, with a market cap of $713 million. BOME (BOOK OF MEME) is a meme coin issued by artist Darkfarms on Solana. Darkfarms is one of the most influential Pepe meme artists in the crypto art circle, with his NFT works being highly popular, earning him the title of graffiti master. BOME raised over 1,000 SOL within 24 hours of its launch on Solana. The price recently dropped at $0.007598 and has rebounded above $0.01 due to the overall rise in meme tokens and the popularity of the Solana ecosystem.

Check Out the Latest Prices, Charts, and Data of BOME/USDT Spot and BOMEUSDT Perp!

The Word on the Street

Gold advocate Peter Schiff: Biden administration to sell all Bitcoin before Trump takes office Gold advocate and economist Peter Schiff believes the Biden administration will sell all its Bitcoin before Trump takes office. The US government’s $2 billion BTC transfer on Monday fueled this speculation. Previously, at a Bitcoin conference in Nashville, Tennessee, on Saturday, Trump promised to ensure the government retains all seized Bitcoin if re-elected, further intensifying speculation about the Biden administration’s potential Bitcoin sale.

Project Financing

Bitcoin Layer 2 infrastructure Bitlayer Labs announced the completion of an $11 million Series A funding round, led by Franklin Templeton, ABCDE, and Framework Ventures, with participation from Stake Capital Group, WAGMI Ventures, Flow Traders, GSR Ventures, and FalconX. Bitlayer is the first Bitcoin infrastructure project to receive ETF-licensed institutional investment. This latest round brings Bitlayer’s total funding to $16 million. The funds will support the development of numerous protocols within the ecosystem, as the company’s development team continues to work on Mainnet-V2, a Bitcoin-native Rollup.