Preface:
Bitcoin and Ether have risen by 3.64% and 6.22% respectively in the past 24 hours, with the ETH/BTC exchange rate holding steady at 0.05. The crypto market Fear & Greed Index has climbed to 65, indicating greed.

Recent Spotlight

The best performer recently is PEPE, with a 24-hour increase of 26.56%, currently priced at $0.000012320, and a market cap reaching $5.129 billion. PEPE, a deflationary meme coin launched on Ethereum, was issued on April 17, 2023. This cryptocurrency was created to pay homage to the Pepe the Frog meme created by Matt Furie. It aims to stand out as a tax-free, utility-less meme-based digital asset, emphasizing its unique connection to the Pepe the Frog character. After a campaign rally attack, Bitcoin and Trump-inspired meme coins surged significantly, also boosting other meme coins like PEPE.

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The Word on the Street

Despite a recent assassination attempt in Pennsylvania, former President Donald Trump plans to speak at the upcoming Bitcoin conference in Nashville, which is expected to host around 20,000 global participants this year. Trump’s support for the cryptocurrency community, acceptance of crypto donations, and backing of Bitcoin mining make his presence significant. Given his increasingly pro-crypto stance, this could trigger a broader cryptocurrency rebound.

Trump has also selected Ohio Senator J.D. Vance as his running mate for the 2024 election, exciting the crypto community as Vance may be a pro-crypto ally. In his mandatory annual report for the calendar year 2022 submitted in October 2023, J.D. Vance disclosed that he held between $100,001 and $250,000 worth of Bitcoin as of 2022, with these tokens held through Coinbase. Additionally, Vance has accounts with brokerage firms Robinhood and Charles Schwab.

Spot Bitcoin ETF Flows

Yesterday, Bitcoin ETF inflows amounted to $293 million (4,612 BTC), marking seven consecutive days of net inflows. BlackRock’s Bitcoin Spot ETF reached a historic high in assets under management just six months after its launch. According to BlackRock’s Q2 financial report released on Monday, as of June 30, BlackRock’s assets under management reached $10.65 trillion, up 13% year-over-year. BlackRock’s Q2 total net inflows amounted to $82 billion, with net inflows of $139 billion in the first half of this year. Since the launch of IBIT at the beginning of this year, BlackRock has become the world’s largest Bitcoin spot ETF. IBIT currently holds 316,276 BTC, valued at approximately $18.3 billion. In contrast, BlackRock’s biggest competitor Vanguard Group manages $8.6 trillion in assets but has not launched a Bitcoin ETF.

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Project Funding

The Telegram-based crypto gaming ecosystem Pixelverse has once again completed $2 million in financing, with participation from Galaxy Interactive, Crit Ventures, and Arc Community, along with notable individual investors in the crypto space such as Alex Kruger, Luke Belmar, and Mike Dudas. After this round of financing, its total funding has reached $7.5 million. Pixelverse, with a cyberpunk theme, can run on both Telegram and web browsers. The platform boasts 50 million players and over 12 million social media followers. Pixelverse offers a range of games with RPG elements and real-time PvP battles, attracting over 500,000 online players. With the advent of Telegram mini-app games, the adoption rate of cryptocurrencies has soared, and Pixelverse is leading this trend.

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