Bitcoin Stands Strong Amid Tech Stock Tumble, While Ether Dips Following ETF Debut

Bitcoin Stands Strong Amid Tech Stock Tumble, While Ether Dips Following ETF Debut

Market‍ Movements​ Amid Losses in Major Indices

On a‌ rather tumultuous‌ Wednesday, the financial markets saw significant fluctuations. Despite the adverse turn in major stock ‌indexes,⁢ with both the Nasdaq and S&P 500 encountering their steepest declines since the end of 2022, Bitcoin maintained⁣ a steady pose. The ⁤leading cryptocurrency hovered around the $66,000 mark, showing resilience in the ‍face of⁣ broader market volatility.

Crypto Performance in a​ Mixed Economic ⁢Landscape

While traditional ​stocks faced downward pressures, the scenario in the crypto‍ domain was more nuanced. The CoinDesk 20 Index, a measure of the broader ⁣cryptocurrency market,‌ remained largely⁣ unaffected over the⁣ last ‌24 hours. In this mixed environment, certain digital assets like Solana and Ripple demonstrated modest gains, each‍ rising between 3% to⁣ 4%. Conversely, assets like Avalanche, Uniswap, and Ethereum Classic experienced declines in the same range.

Ether’s Disappointing Performance Post-ETF Launch

Ether, despite its recent spotlight⁣ following a successful launch of Ether​ ETFs, did not live up to market expectations. The price of Ether dipped to approximately $3,300, marking a nearly 4% drop in ⁣the same ‍time frame and reaching a two-month low when compared to Bitcoin. This unexpected dip has left investors questioning the asset’s short-term viability.

Broader Market Insights ‌and Future Speculations

The backdrop to these crypto fluctuations was a broader market downturn, driven by a 3.6% fall in Nasdaq and a 2.1% slump in⁣ the S&P⁣ 500.‍ This was largely⁤ attributed to ​underwhelming earnings reports from leading tech giants such as Alphabet⁣ and Tesla. ‌Market analysts suggest that⁣ while the Ether ETFs launch was deemed⁣ a marginal success by market⁢ experts, the substantial real‍ money interest it generated could potentially lead ⁢to a repricing in forthcoming trading sessions.

As traders and investors digest these‌ developments, the focus is likely to shift towards imminent U.S. economic data⁤ and key events,⁢ such as an upcoming speech by Donald Trump at⁢ the Nashville⁣ Bitcoin conference. These could provide further cues for the market ⁣direction in the near term.

Concluding ⁢Insights

The resilience of Bitcoin amidst‍ a larger market downturn, coupled ‍with the mixed results across other cryptocurrencies, illustrates the increasingly complex landscape of digital assets. As global economic indicators continue to influence ⁣market movements, the interplay between traditional and crypto markets is expected ⁢to‍ become even more pronounced, offering both challenges and opportunities to informed investors.

https://iota-news.com/bitcoin-stands-strong-amid-tech-stock-tumble-while-ether-dips-following-etf-debut/

Wheel of Luck LuckyX: Trade Futures and Win BTC on BingX

The cryptocurrency trading platform BingX is hosting an exciting promotion called "Wheel of Luck LuckyX," where users can trade futures and win Bitcoin (BTC). This article will provide a comprehensive guide to participating in the event, the tasks you need to complete, and the rewards you can earn. You'll learn how to register on BingX using the referral code BV7MVZULU to get a 20% discount on perpetual futures trading fees.

Wheel of Luck LuckyX: Trade Futures and Win BTC on BingX

Event Overview

Event Duration:

From 19:00 on June 30, 2024, to 18:59 on August 30, 2024.

Participation Eligibility:

The promotion is open to users registered via referral links. You can participate by registering on the promotion page [here]

How to Participate?

To join the "Wheel of Luck LuckyX" promotion, follow these steps:

1. Register on BingX

Create an account on BingX. Use the referral code BV7MVZULU during registration to receive a 20% discount on perpetual futures trading fees (Maker fee rate: 0.02% → 0.016%; Taker fee rate: 0.05% → 0.04%).

1. Register for the Promotion: Visit the promotion page [here] and register to participate in the event.

2. Complete the Tasks: Complete the tasks listed below to earn attempts for the "Wheel of Luck LuckyX."

Tasks and Rewards

Tasks for All Users

1. First Grid Entry:

• Complete your first grid entry to earn +1 attempt.

2. First Copy-Trading Bid:

• Place your first copy-trading bid to earn +1 attempt.

3. Make a Total Deposit:

• Deposit at least 100 USDT to earn +1 attempt.
• Deposit at least 1,000 USDT to earn +1 attempt.

4. Reach the Set Trading Volume on Futures:

• Trade 2,000 USDT in futures to earn +1 attempt.
• Trade 10,000 USDT in futures to earn +1 attempt.
• Trade 50,000 USDT in futures to earn +2 attempts.
• Trade 100,000 USDT in futures to earn +2 attempts.
• Trade 500,000 USDT in futures to earn +3 attempts.
• Trade 1,000,000 USDT in futures to earn +4 attempts.
• Trade 5,000,000 USDT in futures to earn +5 attempts.

Note: Trading volume includes trades in both standard and perpetual futures. Trades must be held for more than 1 minute to qualify.

Important Details

• All users can participate in the promotion.
• To participate, you must register on the promotion page [here].
• Rewards in coins will be issued within 7 working days from the end of the promotion.
• Tokens must be collected from the ‘rewards centre’.
• BingX reserves the right to the final interpretation of this event.

Additional Benefits of Using the Referral Code: BV7MVZULU

By registering on BingX with the referral code BV7MVZULU - you will receive a 20% discount on perpetual futures trading fees. This discount reduces the Maker fee rate from 0.02% to 0.016% and the Taker fee rate from 0.05% to 0.04%. This can lead to significant savings, especially for high-volume traders.

About BingX

BingX is a leading cryptocurrency trading platform that offers a variety of trading options, including spot trading, futures trading, and copy trading. The platform is known for its user-friendly interface, advanced trading tools, and robust security measures.

Key Features of BingX

1. Spot Trading:

• Trade a wide range of cryptocurrencies with competitive fees and fast execution times.

2. Futures Trading:

• Access perpetual and standard futures contracts with leverage options to amplify your trading potential.

3. Copy Trading:

• Follow and copy the trades of experienced traders to potentially increase your chances of success.

4. Security:

• BingX employs advanced security measures, including multi-signature wallets and cold storage, to protect your funds.

5. User-Friendly Interface:

• The platform is designed to be intuitive and easy to navigate, making it suitable for both beginners and experienced traders.

How to Register on BingX?

To register on BingX and start participating in the "Wheel of Luck LuckyX" promotion, follow these steps:

1. Visit the BingX website [here]

2. Click on the "Sign Up" button.

3. Fill in your details, including your email address and password.

4. Enter the referral code BV7MVZULU to receive a 20% discount on perpetual futures trading fees.

5. Complete the registration process by verifying your email address.

Once registered, you can deposit funds into your account, start trading, and participate in the "Wheel of Luck LuckyX" promotion.

Conclusion

The "Wheel of Luck LuckyX" promotion on BingX offers a fantastic opportunity to trade futures and win BTC. By completing various tasks, you can earn multiple attempts to spin the wheel and potentially win exciting prizes. Don't forget to register using the referral code BV7MVZULU to benefit from a 20% discount on perpetual futures trading fees.

Whether you're a seasoned trader or new to the world of cryptocurrency, BingX provides a secure and user-friendly platform to help you achieve your trading goals. Take advantage of this promotion and start trading on BingX today!

2024 Q2 Crypto Industry Report: A Comprehensive Analysis

We are excited to announce that BingX has collaborated with the experts at CoinGecko to bring you the detailed 2024 Q2 Crypto Industry Report. This article will delve into the key insights and highlights from the report, examining the state of the cryptocurrency market, the performance of major cryptocurrencies like Bitcoin and Ethereum, and the dynamics of centralized and decentralized exchanges.

2024 Q2 Crypto Industry Report: A Comprehensive Analysis

Introduction

The 2024 Q2 Crypto Industry Report by CoinGecko offers an in-depth analysis of the cryptocurrency market's performance over the second quarter of 2024. The report provides valuable insights into market trends, significant events, and emerging narratives within the crypto space. This article aims to summarize the key findings of the report and provide a comprehensive overview of the current state of the crypto industry.

Key Highlights

1. Total Crypto Market Cap Fell -14.4% in 2024 Q2, Outperformed by The S&P 500 (+3.9%)

2. Bitcoin Ended 2024 Q2 at $62,734, Down -11.9%

3. Bitcoin Mining Hash Rate Hit ATH, Before Dropping -18.8%

4. Meme Coins Were the Most Popular Narrative in 2024 Q2, Accounting for 14.3% Market Share

5. Ethereum Turned Inflationary, Adding 120K ETH to Circulating Supply

6. Spot Trading Volume on Centralized Exchanges Hit $3.40T in 2024 Q2, Down -12.2% QoQ

7. Decentralized Exchanges Hit $370.7B in Trading Volume, up +15.7% QoQ

Total Crypto Market Cap Performance

Market Cap Decline

The total cryptocurrency market capitalization experienced a significant decline of -14.4% in Q2 2024, ending the quarter at $2.43 trillion. This drop of $408.8 billion indicates a volatile market that struggled to maintain the gains achieved in Q1 2024. The market oscillated within the $2.30 trillion to $2.90 trillion range, unable to reach new all-time highs.

Comparison with Traditional Markets

In contrast to the crypto market's decline, the S&P 500 continued its upward trajectory, ending Q2 2024 with a +3.9% increase. This divergence led to a significant drop in the correlation between the total crypto market cap and the S&P 500, from 0.84 in Q1 to 0.16 in Q2. Crypto volatility remained high, with an annualized volatility of 48.2% for the total market cap and 46.7% for Bitcoin, compared to the S&P 500's lower volatility of 12.7%.

Bitcoin's Performance

Price Movement

Bitcoin's performance in Q2 2024 was marked by significant fluctuations. After reaching a new all-time high of $73,098 in mid-March, Bitcoin's price oscillated between $58,000 and $72,000. Ultimately, Bitcoin ended the quarter at $62,734, representing a -11.9% decline.

Trading Volume

Bitcoin trading volume also saw a decline in Q2 2024, with a daily average of $26.6 billion, down -21.6% from the previous quarter. Market participants were spooked by news of Mt Gox moving its stash of 140K BTC and the German government's sale of seized Bitcoin.

Mining Hash Rate

Bitcoin's mining hash rate reached an all-time high of 721M TH/s on April 23, 2024, before experiencing a -18.8% decline. This marks the first quarterly decline in Bitcoin's hash rate since Q2 2022. Despite the drop, the mining industry saw significant developments, including expansions by companies like BitDigital, Hive, Hut 8, Terawulf, and Core Scientific, as well as Tether's $500 million investment in the sector.

Ethereum's Performance

Supply Dynamics

Ethereum's circulating supply increased by 120K ETH in Q2 2024, as emissions outpaced burns. A total of 107,725 ETH were burned, while 228,543 ETH were emitted, resulting in a net addition of 120,818 ETH to the supply. The burn rate of ETH fell by -66.7% quarter-on-quarter due to a slowdown in network activity and lower gas fees.

Burn Rate

There were only seven days in Q2 2024 when ETH burns exceeded emissions, compared to 66 days in Q1. The largest contributor to ETH burns was ETH Transfers, which burned 6,838 ETH in Q2.

Popular Narratives

Meme Coins

Meme coins emerged as the most popular narrative in Q2 2024, accounting for 14.3% market share. This trend was similar to Q1 2024, with meme coins dominating the top 15 most popular crypto narratives.

Real World Assets (RWA) and Artificial Intelligence (AI)

Real World Assets (RWA) and Artificial Intelligence (AI) also captured significant market attention, contributing to 35.7% of the market share. Solana and Base were the most popular blockchain ecosystems, with Solana and Base capturing 22.9% of market attention.

Centralized Exchanges (CEX)

Spot Trading Volume

In Q2 2024, the top 10 centralized exchanges recorded a total spot trading volume of $3.40 trillion, a decline of -12.2% quarter-on-quarter. Binance remained the largest CEX, with a market share of 45% despite a slump in trading volume. Bybit emerged as the second-largest spot CEX, overtaking Upbit, and increased its market share to 12.6% in June 2024.

Notable Performances

Gate, Bitget, and HTX were among the top CEXes with increased trading volumes. Gate's trading volume rose by 51.1% to $85.2 billion, Bitget by 15.4% to $24.7 billion, and HTX by 13.7% to $25.5 billion.

Decentralized Exchanges (DEX)

Trading Volume

Decentralized exchanges saw a surge in trading volume in Q2 2024, with the top 10 DEXes recording $370.7 billion in spot trading volume, up +15.7% quarter-on-quarter. Uniswap remained the dominant DEX, ending June 2024 with a 48% market share.

Emerging DEXes

Thruster and Aerodrome were notable gainers in Q2 2024. Thruster, native to Blast, saw volumes rise by 464.4% to $6.0 billion, ending June with a 3% market share. Aerodrome grew by 297.4% to $5.9 billion, entering the top 10 with a 3% market share. Thruster benefited from Blast's points farming, while Aerodrome saw a surge in meme coin trading on Base.

Conclusion

The 2024 Q2 Crypto Industry Report by CoinGecko provides a comprehensive overview of the state of the cryptocurrency market. Despite the overall decline in market capitalization and Bitcoin's price, the report highlights significant developments in the crypto space, including the popularity of meme coins, the dynamics of centralized and decentralized exchanges, and the performance of major cryptocurrencies like Bitcoin and Ethereum.

For those looking to trade cryptocurrencies with lower fees, consider registering on the BingX cryptocurrency exchange using the referral code BV7MVZULU for a 20% Perpetual Futures Trading Fee Discount (Maker fee rate: 0.02% → 0.016%; Taker fee rate: 0.05% → 0.04%).

For more detailed insights and data, we encourage you to read the full 2024 Q2 Crypto Industry Report by CoinGecko. Access the report [here]

Stay informed and make data-driven decisions in the dynamic world of cryptocurrencies!

Will the Price of BTC Rise or Fall During the Bitcoin Conference?

The cryptocurrency market, particularly Bitcoin (BTC), is known for its volatility and susceptibility to external factors. With the Bitcoin Conference scheduled for July 26-27, there is considerable speculation about how this event will impact BTC's price. In this article, we will delve into potential factors and market sentiments that could influence BTC's price movement during this period.

Will the Price of BTC Rise or Fall During the Bitcoin Conference?

The Role of Bitcoin Conferences

Bitcoin conferences are significant events in the cryptocurrency space. They bring together industry leaders, developers, investors, and enthusiasts to discuss the latest developments, share insights, and unveil new projects. These conferences often generate substantial media coverage and public interest, which can lead to increased trading activity and price volatility.

Historical Impact of Conferences on BTC Price

Historically, Bitcoin conferences have had varied impacts on BTC's price. Some conferences have led to substantial price increases due to positive announcements and heightened investor interest. Others have had little to no impact or have even coincided with price declines.

For instance, during the Consensus conference in May 2018, BTC's price saw a modest increase in the days leading up to the event, but it experienced a notable decline shortly after. In contrast, the Bitcoin 2021 conference in Miami saw a significant uptick in BTC's price as positive sentiment and announcements fueled bullish behavior.

Factors Influencing BTC Price During the Bitcoin Conference

1. Announcements and Partnerships

One of the most significant factors that can influence BTC's price during the conference is the announcement of new partnerships, technological advancements, or regulatory developments. Positive news can lead to increased investor confidence and buying pressure, driving the price up.

2. Market Sentiment

The overall sentiment in the cryptocurrency market plays a crucial role. If the market is already bullish, the conference could amplify this sentiment, leading to a price rise. Conversely, if the market is bearish, even positive news might not be enough to counteract the downward pressure.

3. Media Coverage

Extensive media coverage of the conference can attract new investors and traders to the market. Increased attention and trading activity can lead to higher volatility and potential price movements.

4. Whales and Institutional Investors

Large holders of BTC, often referred to as "whales," and institutional investors can significantly impact the price. Their actions, whether buying or selling, can lead to substantial price swings.

How to Participate in the BingX BTC Price Prediction Event?

How to Participate in the BingX BTC Price Prediction Event?

BingX is offering an exciting opportunity for users to predict the price movement of BTC/USDT perpetual futures during the Bitcoin Conference. Here's how you can participate:

1. Fun Prediction

Will the Bitcoin Conference affect the market? Will you be able to predict the movement of BTC? This is your chance to test your prediction skills.

2. Easy Participation

Simply click on the rise or fall button on the BingX event page to join the prediction event.

3. Accurate Prediction

Predict the exact price to get a share of up to 1 BTC!

4. Everybody Wins

Even if your prediction is inaccurate, you can still win a share of 5,000 USDT in vouchers.

Prize Pool and Rewards

• Prize Pool: 1 BTC
• Participation Period: July 21 (22:00 MSC) - July 26 (21:59 MSC)
• Trading Volume Calculation Period: July 21 (22:00 MSC) - July 27 (21:59 MSC)

How to Register on BingX?

To participate in this event, you need to have an account on BingX. If you haven't registered yet, you can do so using the referral code BV7MVZULU - this code will give you a 20% perpetual futures trading fee discount (Maker fee rate: 0.02% → 0.016%; Taker fee rate: 0.05% → 0.04%).

Steps to Register:

1. Visit the BingX Website: Go to the official BingX website.

2. Sign Up: Click on the "Sign Up" button and fill in your details.

3. Enter the Referral Code: Use the referral code BV7MVZULU to get a 20% discount on perpetual futures trading fees.

4. Complete Registration: Follow the instructions to complete your registration and start trading.

Final Thoughts

Predicting BTC's price movement during the Bitcoin Conference is challenging due to the numerous factors at play. By understanding the historical impact of such events, market sentiment, and key factors influencing the price, you can make an informed prediction.

Participating in the BingX BTC price prediction event not only gives you a chance to win exciting prizes but also enhances your understanding of market dynamics. So, don't miss this opportunity to test your prediction skills and potentially earn rewards.

Whether you predict a rise or fall in BTC's price, the key is to stay informed and make data-driven decisions.

Good luck and happy trading!

HugeWin Casino Elevate Your Game with the Power of Crypto!"

HugeWin Casino, a newly established platform as of January 2024, has quickly garnered attention in the cryptocurrency gambling landscape. Its user-centric approach, coupled with an extensive array of gaming options, underscores its emerging status within the industry.

Nothing compares to a crypto gambling platform offering users plenty of gaming opportunities, numerous bonuses, promotions, and special events. In the crypto gambling world, this and the surprising prices are the biggest wishes of crypto enthusiasts.

And you may find hundreds of crypto casinos available, each one coming with more benefits and offers. However, besides numerous benefits, a crypto casino should also be transparent and secure and offer a high level of anonymity.

Sometimes, it can be a little hard to make the best of both worlds – offering many games and offers while also working on transparency, security, and anonymity. However, some Bitcoin casinos find the best way to combine all these benefits and offer bright platforms.

Among them is Hugewin casino, a platform that, although recently launched, has already become surprisingly popular and has a promising future thanks to its features, engaged community, and constant wish to keep the user experience as high as possible.

Welcome to the World of Limitless Games and Sports

HugeWin casino was launched in January 2024, and in the short time since its launch, it has managed to become noticed by worldwide crypto gamblers. With an extremely user-friendly platform and numerous benefits for its users, HugeWin casino is on the path to becoming one of the most popular crypto casinos in the world, if not even the most popular.

Currently, HugeWin Casino surprises its users with over 7,000 slots games. The platform provides classic versions of the game, as well as intriguing variations.

Furthermore, users can choose from over 700 casino games from 12 game providers, including popular developers such as PragmaticLive, Evolution, LiveGames, and many others. Crypto gamblers can try out various casino games, such as poker, roulette, blackjack, baccarat, table games, and live casino tables.

When it comes to crypto casinos, users are usually looking for sports betting, too. Thus, HugeWin Casino has also developed this feature, offering users 35 virtual sports games to bet on. Some of the most popular sports include football, basketball, cricket, baseball, tennis, dog racing, horse racing, table tennis, motor racing, golf, and ice hockey.

Besides, HugeWin Casino comes with one more activity worth considering: regular games. Considering that some players might not want to play the usual casino games, HugeWin is offering close to 70 regular games, the most popular being Zeppelin, Aviator, and Spaceman.

Moreover, it is essential to mention that HugeWin Casino does not require unnecessary information from its users. Thus, when signing up, you will only be required to provide the information strictly needed to create your account.

Discover Unlimited Perks and Promos that Improve Your Gambling Experience Hugewin already knows that providing a wide range of games may not be enough for users. Thus, the crypto casino has also developed various special events, bonuses, promotions, discounts, and other benefits.

Users can enjoy two main recurring tournaments: the Weekly Multiplier Tournament and the Monthly Turnover Tournament. The weekly tournament is available to those playing 5 specific games: Sweet Bonanza Xmas, Sugar Crush, Big Bass Bonanza, The Dog House, and Piggy Bankers. The prize pool for the weekly tournament is $10,000.

The Monthly Turnover Tournament has a surprising prize pool of $100,000 and is available to gamblers playing 10 games, including Sweet Bonanza, Gates of Olympus, Starlight Princess, and Master Joker.

Each tournament rewards users based on a leaderboard. The prize pools are distributed to the first 100 crypto gamblers with the highest turnover and multiplier, respectively.

Visit : https://hugewin.com