Author: Michelle Lazo

Inflows into all 11 spot Bitcoin ETFs have surpassed $1 billion over the past three days, marking a remarkable milestone in the cryptocurrency market. Since their launch earlier this year, these ETFs have accumulated lifetime inflows of $17 billion. On July 16th alone, Bitcoin ETFs saw $420 million in inflows, reaching a six-week high according to Coinglass.

BlackRock and Fidelity Lead the Inflow Surge

BlackRock’s (NYSE:BLK) ETF, IBIT, captured the largest share of these inflows, accumulating over $200 million on Tuesday. Meanwhile, Fidelity’s FTBC amassed $61 million the same day. These substantial investments highlight growing institutional interest and confidence in Bitcoin ETFs as a robust investment vehicle.

Market Dynamics and Bitcoin Price Recovery

The significant inflows into Bitcoin ETFs come at a time when the infamous crypto exchange Mt. Gox has begun distributing crypto to its victims. Approximately a third of Bitcoin distributions have been completed, alleviating some fears of a supply overhang. Concurrently, the German government’s sell-off of billions of dollars worth of Bitcoin initially drove prices down to near $53,500 on July 5th. However, since then, the price of Bitcoin has rebounded by 23%, driven in part by the substantial ETF inflows and recent political developments.

Political Support and Market Sentiment

Former President Trump’s announcement of his Vice Presidential pick, Ohio Senator J.D. Vance, has also positively impacted the crypto market. Sen. Vance is widely regarded as one of the strongest pro-crypto voices in American politics. In 2022, he disclosed owning at least $100,000 worth of Bitcoin, further solidifying his support for the digital asset.

Sen. Vance has been vocal in his criticism of SEC Chair Gary Gensler’s stance on cryptocurrency regulation. In a video posted to X in February 2024, he labeled Gensler as a candidate for the “worst person” in Biden’s administration, asserting that his regulatory approach is “the complete opposite” of what Vance would advocate. This political support is seen as a positive signal for the crypto market, contributing to the recent inflows and price recovery.

The Future of Bitcoin ETFs

The remarkable inflows into Bitcoin ETFs underscore the growing acceptance and adoption of Bitcoin as a mainstream financial asset. These ETFs provide investors with a regulated and convenient way to gain exposure to Bitcoin, without the need to directly purchase and store the cryptocurrency. As institutional interest continues to grow, the demand for Bitcoin ETFs is likely to increase, potentially driving further inflows and supporting Bitcoin’s price stability and growth.

Conclusion

The recent surge in inflows into Bitcoin ETFs, surpassing $1 billion in just three days, marks a significant development in the cryptocurrency market. With BlackRock and Fidelity leading the charge, these ETFs have demonstrated their ability to attract substantial institutional investment. The positive market sentiment, bolstered by political support and strategic crypto distributions, suggests a promising future for Bitcoin ETFs. As the market evolves, investors will continue to closely monitor these developments, anticipating further growth and opportunities in the burgeoning Bitcoin ETF landscape.

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Gods Unchained, a popular Immutable-based NFT collection, has made headlines by leading CryptoSlam’s NFT sales board on Tuesday, achieving a remarkable $930,439 in sales within a single day. This significant surge, encompassing 7,833 transactions, has propelled Gods Unchained’s all-time sales volume to the 16th spot on the leaderboard, just behind Bored Ape Kennel Club.

Record-Breaking Sales Day for Gods Unchained

The impressive sales figures for Gods Unchained underscore the growing popularity and market presence of this digital trading card game. The $930,439 sales figure is a testament to the increasing demand for unique and valuable NFTs within the gaming and collectible markets. This influx of transactions not only highlights the game’s strong community engagement but also its potential for future growth.

Competitive NFT Market Landscape

In the highly competitive NFT market, other collections also posted notable sales figures. Ethereum-based Autoglyphs secured the second spot with $858,764.77 in sales from just four transactions, demonstrating the high value of individual pieces within this collection.

The third-ranking collection for the day was the well-known Bored Ape Yacht Club, which achieved $586,444 in sales. This Ethereum-based collection boasts an impressive all-time sales volume of $3.17 billion, making it the second-highest in the industry, trailing only Axie Infinity’s $4.2 billion.

Other Notable Collections

Several other collections also made significant contributions to the day’s sales totals. Solana Monkey Business ranked fourth with $539,249.33 in sales, followed closely by DMarket at $537,613.07. These figures highlight the diverse range of platforms and projects driving the NFT market forward.

Collections such as NodeMonkes and Bitcoin Puppets also garnered attention with their robust sales figures, while new entrants like ?, a BRC-20 NFT, and DogeZuki Collection showcased the market’s breadth and the variety of price points and buyer engagement levels.

The Rise of Azuki and Market Trends

Rounding out the top performers for the day was Azuki, an anime-themed NFT collection that continues to captivate collectors with its unique artistic style and strong community backing. Azuki’s sustained performance highlights the importance of thematic and visually appealing collections in attracting and retaining a dedicated fan base.

Implications for the NFT Market

The surge in sales for Gods Unchained and other leading collections reflects broader trends within the NFT market. Increased mainstream adoption, growing interest in digital collectibles, and the integration of NFTs into various entertainment and gaming platforms are driving substantial growth.

For Gods Unchained, the record-breaking sales day underscores the success of its strategic initiatives and the appeal of its digital trading cards. The collection’s rise in the rankings indicates a positive trajectory for its market position and future potential.

Conclusion

Gods Unchained’s impressive $930,439 in NFT sales over a single day marks a significant milestone for the collection and the broader NFT market. With 7,833 transactions contributing to this achievement, Gods Unchained has solidified its standing among the top NFT collections. As the market continues to evolve, the success of collections like Gods Unchained, Autoglyphs, and Bored Ape Yacht Club will play a crucial role in shaping the future of digital collectibles. Investors and enthusiasts alike will be watching closely to see how these trends develop and what new opportunities emerge in the rapidly growing world of NFTs.

Featured Image: Freepik

Please See Disclaimer

Gods Unchained, a popular Immutable-based NFT collection, has made headlines by leading CryptoSlam’s NFT sales board on Tuesday, achieving a remarkable $930,439 in sales within a single day. This significant surge, encompassing 7,833 transactions, has propelled Gods Unchained’s all-time sales volume to the 16th spot on the leaderboard, just behind Bored Ape Kennel Club.

Record-Breaking Sales Day for Gods Unchained

The impressive sales figures for Gods Unchained underscore the growing popularity and market presence of this digital trading card game. The $930,439 sales figure is a testament to the increasing demand for unique and valuable NFTs within the gaming and collectible markets. This influx of transactions not only highlights the game’s strong community engagement but also its potential for future growth.

Competitive NFT Market Landscape

In the highly competitive NFT market, other collections also posted notable sales figures. Ethereum-based Autoglyphs secured the second spot with $858,764.77 in sales from just four transactions, demonstrating the high value of individual pieces within this collection.

The third-ranking collection for the day was the well-known Bored Ape Yacht Club, which achieved $586,444 in sales. This Ethereum-based collection boasts an impressive all-time sales volume of $3.17 billion, making it the second-highest in the industry, trailing only Axie Infinity’s $4.2 billion.

Other Notable Collections

Several other collections also made significant contributions to the day’s sales totals. Solana Monkey Business ranked fourth with $539,249.33 in sales, followed closely by DMarket at $537,613.07. These figures highlight the diverse range of platforms and projects driving the NFT market forward.

Collections such as NodeMonkes and Bitcoin Puppets also garnered attention with their robust sales figures, while new entrants like ?, a BRC-20 NFT, and DogeZuki Collection showcased the market’s breadth and the variety of price points and buyer engagement levels.

The Rise of Azuki and Market Trends

Rounding out the top performers for the day was Azuki, an anime-themed NFT collection that continues to captivate collectors with its unique artistic style and strong community backing. Azuki’s sustained performance highlights the importance of thematic and visually appealing collections in attracting and retaining a dedicated fan base.

Implications for the NFT Market

The surge in sales for Gods Unchained and other leading collections reflects broader trends within the NFT market. Increased mainstream adoption, growing interest in digital collectibles, and the integration of NFTs into various entertainment and gaming platforms are driving substantial growth.

For Gods Unchained, the record-breaking sales day underscores the success of its strategic initiatives and the appeal of its digital trading cards. The collection’s rise in the rankings indicates a positive trajectory for its market position and future potential.

Conclusion

Gods Unchained’s impressive $930,439 in NFT sales over a single day marks a significant milestone for the collection and the broader NFT market. With 7,833 transactions contributing to this achievement, Gods Unchained has solidified its standing among the top NFT collections. As the market continues to evolve, the success of collections like Gods Unchained, Autoglyphs, and Bored Ape Yacht Club will play a crucial role in shaping the future of digital collectibles. Investors and enthusiasts alike will be watching closely to see how these trends develop and what new opportunities emerge in the rapidly growing world of NFTs.

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Andrew Tate, currently facing human sex trafficking and rape charges, has launched a Solana-based memecoin named DADDY while awaiting trial outside Romania. This move, announced through a confident declaration on X, signals his intent to leverage the global stage to promote his cryptocurrency.

Celebrity Endorsements and Memecoins

Tate is not alone in using memecoins to boost his brand and generate income. Since he began promoting DADDY on June 11, the coin has rapidly grown, reaching a market capitalization of over $217 million. Tate’s aggressive marketing targets rapper Iggy Azalea’s $MOTHER coin, pushing a narrative centered around “the patriarchy.” According to CoinGecko data, DADDY now trades at a value five times greater than Azalea’s memecoin.

Crypto’s Lingering Misogyny Issue

Tate’s divisive promotion of DADDY highlights a persistent issue within the cryptocurrency community: misogyny. While some investors may buy his token for profit rather than ideology, the coin’s popularity underscores the industry’s struggle with gender inclusivity. Despite efforts to mainstream cryptocurrency, elements of the market continue to alienate women and promote a male-dominated culture.

The “Crypto Bro” Culture

The term “crypto bro” gained prominence during the 2021 crypto boom, describing a range of characters from blockchain enthusiasts to libertarians. A 2021 survey revealed that only 5% of global cryptocurrency users were women, highlighting the gender imbalance. This disparity is still evident in 2024, with women like Binance co-founder He Yi and Tezos co-founder Katherine Breitman being exceptions in an industry deeply intertwined with masculinity.

Industry Leaders and Gender Disparities

Prominent women in the crypto industry, such as Caitlin Long, CEO of Custodia Bank, and Nicole Muniz, CEO of Yuga Labs, showcase that success is possible for women in this space. However, these leaders are still exceptions. The industry remains male-dominated, with a culture that often marginalizes female participation. As a female reporter in the crypto world, I have yet to interview a female founder despite conducting over 100 interviews this year.

The Rise of Memecoins

Memecoins, highly speculative and driven by internet trends, have become the latest craze in the crypto market, largely attracting young male investors. These coins, similar to memestocks like GameStop, appeal to a demographic seeking high-risk, high-reward investments. The memecoin market, including tokens like DOGE, PEPE, SHIB, and now DADDY, reflects a desire for community and defiance against traditional financial systems.

Political and Social Context

The resurgence of the “crypto bro” can be linked to broader political and social trends. A recent report indicated that young men in the U.S. have become more conservative since 2014, coinciding with the rise of cryptocurrencies. Many of these men, feeling disillusioned with traditional societal structures, turn to figures like Andrew Tate and the promise of financial independence through crypto.

Future of the Crypto Community

The challenge for the crypto industry is balancing its unique culture with broader inclusivity. The presence of bad actors like Sam Bankman-Fried and Changpeng Zhao has tainted the “crypto bro” image, but their legal troubles provide an opportunity for the industry to rebrand. Emphasizing inclusivity and the original anti-establishment ethos could help attract a more diverse group of investors.

Crypto’s appeal lies in its strong community. Transforming the “crypto bro” culture into a more inclusive environment is crucial for the industry’s credibility and growth. The potential shift from degeneracy to inclusivity could redefine crypto, making it a more appealing and sustainable financial instrument for all.

Featured Image: Freepik

Please See Disclaimer

Andrew Tate, currently facing human sex trafficking and rape charges, has launched a Solana-based memecoin named DADDY while awaiting trial outside Romania. This move, announced through a confident declaration on X, signals his intent to leverage the global stage to promote his cryptocurrency.

Celebrity Endorsements and Memecoins

Tate is not alone in using memecoins to boost his brand and generate income. Since he began promoting DADDY on June 11, the coin has rapidly grown, reaching a market capitalization of over $217 million. Tate’s aggressive marketing targets rapper Iggy Azalea’s $MOTHER coin, pushing a narrative centered around “the patriarchy.” According to CoinGecko data, DADDY now trades at a value five times greater than Azalea’s memecoin.

Crypto’s Lingering Misogyny Issue

Tate’s divisive promotion of DADDY highlights a persistent issue within the cryptocurrency community: misogyny. While some investors may buy his token for profit rather than ideology, the coin’s popularity underscores the industry’s struggle with gender inclusivity. Despite efforts to mainstream cryptocurrency, elements of the market continue to alienate women and promote a male-dominated culture.

The “Crypto Bro” Culture

The term “crypto bro” gained prominence during the 2021 crypto boom, describing a range of characters from blockchain enthusiasts to libertarians. A 2021 survey revealed that only 5% of global cryptocurrency users were women, highlighting the gender imbalance. This disparity is still evident in 2024, with women like Binance co-founder He Yi and Tezos co-founder Katherine Breitman being exceptions in an industry deeply intertwined with masculinity.

Industry Leaders and Gender Disparities

Prominent women in the crypto industry, such as Caitlin Long, CEO of Custodia Bank, and Nicole Muniz, CEO of Yuga Labs, showcase that success is possible for women in this space. However, these leaders are still exceptions. The industry remains male-dominated, with a culture that often marginalizes female participation. As a female reporter in the crypto world, I have yet to interview a female founder despite conducting over 100 interviews this year.

The Rise of Memecoins

Memecoins, highly speculative and driven by internet trends, have become the latest craze in the crypto market, largely attracting young male investors. These coins, similar to memestocks like GameStop, appeal to a demographic seeking high-risk, high-reward investments. The memecoin market, including tokens like DOGE, PEPE, SHIB, and now DADDY, reflects a desire for community and defiance against traditional financial systems.

Political and Social Context

The resurgence of the “crypto bro” can be linked to broader political and social trends. A recent report indicated that young men in the U.S. have become more conservative since 2014, coinciding with the rise of cryptocurrencies. Many of these men, feeling disillusioned with traditional societal structures, turn to figures like Andrew Tate and the promise of financial independence through crypto.

Future of the Crypto Community

The challenge for the crypto industry is balancing its unique culture with broader inclusivity. The presence of bad actors like Sam Bankman-Fried and Changpeng Zhao has tainted the “crypto bro” image, but their legal troubles provide an opportunity for the industry to rebrand. Emphasizing inclusivity and the original anti-establishment ethos could help attract a more diverse group of investors.

Crypto’s appeal lies in its strong community. Transforming the “crypto bro” culture into a more inclusive environment is crucial for the industry’s credibility and growth. The potential shift from degeneracy to inclusivity could redefine crypto, making it a more appealing and sustainable financial instrument for all.

Featured Image: Freepik

Please See Disclaimer