Crypto World Daily Digest: The German government transfers $172 million worth of Bitcoin to multiple locations; Hamster Kombat plans to issue tokens on the TON blockchain; Blast jumps to become the seventh largest network after a large-scale airdrop

On July 4th, Thursday, the U.S. Independence Day, the market is closed.

The German government has transferred $172 million worth of Bitcoin to multiple locations

The German government recently conducted a large-scale transfer of Bitcoin, which could have a significant impact on the market. They transferred over 3,000 Bitcoins (valued at approximately $172 million) to different addresses. According to on-chain analytics platform Arkham Intelligence, the initial 1,300 Bitcoins were transferred to a centralized cryptocurrency exchange, while the remaining 1,700 Bitcoins were transferred to an independent wallet.

Since February 2024, the wallet marked as belonging to the German government has been holding 50,000 Bitcoins and has gradually transferred most of its funds in the past few months. These large-scale transfers by the German and US governments, along with the upcoming Mt.Gox compensation payments, may create greater selling pressure on the Bitcoin market.

Telegram CEO: Hamster Kombat plans to issue tokens on the TON blockchain

Telegram CEO Patel Du Rove announced on his personal channel that Hamster Kombat plans to issue its token on the TON blockchain, aiming to bring the advantages of blockchain to hundreds of millions of users.

Hamster Kombat has become the latest internet sensation, with 239 million people registered in just 3 months. This Telegram mini-app has reached 100 million monthly active users in 73 days, with a daily increase of users ranging from 4 to 5 million, making it one of the fastest-growing digital services globally.

Recently, Telegram and the TON ecosystem have attracted much attention. According to Coingecko's data, TON's market capitalization has exceeded 19.1 billion dollars, surpassing Dogecoin, and its market ranking has risen to ninth place.

After the large-scale airdrop, Blast has risen to the seventh largest network

Since November 2023, after a controversial 'Early Access Period', Blast officially launched its Mainnet in February. Since the Mainnet went live, Blast's metrics have been on the rise. By Total Value Locked, Blast has become the seventh largest network with assets approaching 1.5 billion dollars.

The launch of Blast has attracted numerous big-name supporters and developers, with the most important being its native yield on stablecoins and Ether. This yield makes Blast unique in the market, and the on-chain metrics surged after the airdrop release. Currently, Blast has issued 17 billion tokens, demonstrating strong momentum, which is likely to continue.

In the first phase of the Airdrop, Blast has distributed 100 billion (50% of the total supply) to the community and has indicated that there will be more Airdrops in the next three years. Since the launch of the Airdrop application on June 26th, the number of active addresses and trading volume has not significantly increased. The market capitalization reached $493 million on the day of release, but the BLAST token subsequently experienced a typical Airdrop sell-off, causing the market capitalization to decline.

As of mid-June, Blast is leading OP Mainnet in 7-day moving averages of trading volume and active addresses, although still far behind Arbitrum One and Base. Since the launch of the mainnet, these two indicators have been steadily rising.

Market Analysis:

The current market sentiment is extremely low, with major cryptocurrencies BTC and ETH experiencing significant declines. Here are the specific market trends and analysis of influencing factors:

• BTC：Falling below $57,000, the volatility has significantly decreased. Mt. Gox exchange large outflows, continuous selling by the German government, BTC spot ETF outflows, exacerbating the market's low sentiment, and increasing investor risk aversion.
• ETH: Falling below $3,100, it is also affected by the overall market decline.
• AltCoin: The market has seen a widespread sharp decline, with almost no pump in the market.

Macroeconomics

• US stock and bond markets closed : Due to Independence Day, the US stock and bond markets are closed for one day. With a lack of major trading activities, it may lead to increased volatility in the cryptocurrency market.
• US Dollar Index: The US Dollar Index fell to the 105 level, trading at 105.13, marking a new low since mid-June. A weaker US dollar is usually beneficial for cryptocurrencies, but the current market sentiment is extremely low, failing to boost cryptocurrency prices.

Market Hotspots

1. Public Chain Ton: TON price fell by more than 10% with the broader market. Telegram CEO announced that Hamster Kombat will issue tokens on the Ton blockchain. Hamster Kombat has 239 million people registered in 3 months, with 400-5 million new users added every day.
2. Politifi concept: MAGA and PEOPLE fell more than 30% today. Since the U.S. presidential debate on June 27th, politifi concept tokens have generally declined. This may be due to increased political uncertainty and rising investor risk aversion.

The current market is in an extremely depressed state, with major cryptocurrencies and altcoins experiencing a significant decline. Changes in the macroeconomic environment, the closure of the US stock and bond markets, and negative market events (such as large transfers out of Mt. Gox exchange and continuous selling by the German government) have all had a negative impact on market sentiment. Market sentiment and trends are often cyclical, and maintaining a calm and rational investment strategy will help achieve better investment returns in a fluctuating market.

Macro: US market closed; Asian stock markets hit new highs; Pound stabilizes after overwhelming victory for Labour Party

On July 4th, the US market was closed for the Independence Day holiday, and public attention turned to the presidential debate. During the debate, Biden's age and mental acuity became a concern. A survey by The Wall Street Journal showed that Trump defeated Biden with a 48% to 42% advantage, increasing his lead by one percentage point. Another poll by The New York Times showed that Trump's lead expanded to 49% to 43%, an increase of three percentage points.

Despite the pressure to withdraw from the campaign, Biden reiterated his determination to continue participating in the 2024 presidential election during a phone call with campaign staff on Wednesday, as well as meetings with Democratic lawmakers and governors, in an attempt to overcome the negative impact of his poor performance in last week's debate.

On Friday, US employment data became the focus of the economic calendar. It is expected that hiring will slow down, and the unemployment rate will rise slightly, providing room for the US to cut interest rates. A series of sluggish data, including the US ISM non-manufacturing activity index falling to the lowest level since mid-2020 earlier this week, has increased the likelihood of a rate cut in September to 73%, and it is expected that there will be a total of 47 basis points cut in interest rates this year.

Asian stock markets hit new highs; Sterling steadies after Labour's overwhelming victory

On July 5, Asian stock markets hit new highs at the opening as investors assessed the possibility of a rate cut in September and remained optimistic. Meanwhile, the euro hit a three-week high ahead of the French elections.

The British pound remained strong at $1.2767 as the UK Labour Party is expected to win a landslide victory in the election, ending the Conservative Party's 14-year rule. On the other hand, the US dollar weakened slightly, and the US Treasury bond yields in Tokyo rose slightly as trading resumed after the US Independence Day holiday.

The Japan Nikkei and TOPIX indices both rose to record levels, and the Taiwan benchmark index also rose. The MSCI Asia-Pacific stock index rose by 0.2%, reaching its highest level in two years; Samsung expects its second-quarter profit to increase by more than 15 times, boosting the Korean KOSPI index to its highest level in two years.

Data released by the Japanese government on Friday showed that household spending unexpectedly fell in May, further complicating the interest rate outlook as the weak yen suppressed consumer purchasing power. The yen rose slightly against the US dollar to 160.9. On Friday, FTSE futures opened up 0.3%.

In the commodity market, the weakening of the US dollar has driven the price of gold to the largest single-week increase in a month, up 1.4% to $2,357 per ounce. Oil prices have also reached their highest level since April, with Brent crude futures maintaining above $87 per barrel. Earlier, the decline in US crude oil inventories exceeded expectations, indicating strong demand for oil prices as the US summer driving season approaches.