💰 The Wall Street Journal releases a video comparing the Bitcoin bull run of 2021 to the current market in 2024

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🔵 Arbitrum DAO votes to approve $215 million gaming ecosystem fund proposed by Arbitrum Foundation

Arbitrum Foundation, the organization that supports the Ethereum rollup-based Layer 2 network Arbitrum, will get its wish to distribute hundreds of millions of dollars to support gaming projects on the network over the next three years. Organizations that significantly supported the proposal include L2Beat, Wintermute, and gaming-focused Treasure DAO, while Blockworks Research and Camelot DAO numbered among those who voted against.

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💰 Bitfinex analysts predict Bitcoin’s bull market top could occur around Q4 2024

Analysts at crypto exchange Bitfinex have predicted that the current bitcoin bull market cycle may peak in the fourth quarter of 2024. "Historical data suggest that bitcoin typically reaches its new all-time high (ATH) several months after the halving event. Therefore, we predict the market top could occur around Q4 2024," Bitfinex analysts claimed in a note sent to The Block.

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💰 Short-term holder realized price nears $64,000, signaling Bitcoin uptrend

The Realized Price metric offers a comprehensive overview of the average on-chain acquisition price for the entire Bitcoin circulating supply. By analyzing Short-Term and Long-Term Holder heuristics, we can determine the realized price for different investor cohorts. These coins are the most likely to be spent soon. Conversely, Long-Term Holders (LTH) represent coins not moved within the last 155 days, indicating the least probable coins to be spent.

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📊 Crypto on ‘slow and steady’ pace to mainstream adoption – Canaccord Genuity

Mainstream adoption of digital assets has been steadily increasing, driven by significant regulatory advancements and rising institutional interest, according to Canaccord Genuity research. According to Canaccord’s research report, the mainstream adoption of digital assets is anticipated to continue driving growth in the sector, with Galaxy Digital well-positioned to capitalize on these evolving trends.

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💰 Polygon community treasury announces grants program for builders, initially distributing 35 million MATIC

A Polygon community treasury has announced a long-term plan to spur development on the blockchain that involves unlocking 1 billion tokens over a decade. "After community consensus, the Community Treasury has been created, with 1 billion POL unlocked over 10 years, with [approximately] 100 million POL per year, all for builders," the treasury said in an announcement. POL is set to become Polygon's native token, replacing MATIC eventually.

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💰 Glassnode says institutional cash-and-carry trades are influencing US spot bitcoin ETF flows

Glassnode analysts said on Wednesday that a major factor affecting demand-side pressure for U.S. spot exchange-traded funds is institutional traders adopting a cash-and-carry arbitrage strategy. According to analysts, since traders are buying bitcoin spot and immediately hedging it by selling bitcoin futures, this could reduce the immediate upward pressure on the spot price that would otherwise be seen if they were only buying the spot asset.

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💰 World's Largest Bank ICBC Sees Bitcoin as Digital Gold — Calls 🪙 Ethereum 'Digital Oil'

The Industrial and Commercial Bank of China (ICBC), the world’s largest bank by total assets, recently compared bitcoin to digital gold and labeled Ethereum “digital oil” in a report. The bank emphasized the roles of these cryptocurrencies in the digital economy and their contributions to technological advancements.

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💰 NiceHash and Marathon partner to launch new firmware for miners

NiceHash, a leading Bitcoin hashing power marketplace, has partnered with Marathon Digital Holdings to introduce new custom firmware for ASIC miners on its platform. The new product, NiceHash Firmware, will leverage Marathon’s technology to enhance the efficiency and revenue of Bitcoin miners using ASIC devices. Miners who adopt this firmware will benefit from a low fee of 2%, which drops to 1.4% if they use NiceHash as their primary mining pool.

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🪙 Crypto Investments Hit $1 Billion in May With Ethereum Dominating: KuCoin

KuCoin exchange’s research arm released a report on cryptocurrency performance in May, noting $1 billion in new investments – a slight decrease from April. Earlier this week, KuCoin Research published a report indicating that in May alone, the crypto realm saw a public disclosure of about 156 investments. The total amounts invested in the 156 projects summed up to about $1.02 billion.

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🥇 Bitcoin transaction fees will surpass block subsidy predicts Marathon CEO Fred Thiel

Fred Thiel, CEO of Marathon Digital Holdings, shared his insights on several critical aspects of the Bitcoin landscape, focusing on transaction fees, hash rate resilience, and global expansion initiatives. Thiel highlighted the conditions of Bitcoin transaction fees, noting that large payloads requiring prioritization drive higher fees. He emphasized that transaction volume in the mempool is the primary driver, with various value-added services built on top of base transaction fees.

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💰 US-listed Bitcoin miners hit record $22.8 billion market cap amid stock surge

Publically traded Bitcoin mining companies in the US briefly reached a combined market cap of $22.8 billion on June 15 amid a surge in their stock price during June. According to a recent analysis by JP Morgan, the growth is driven by an increase in network hashrate share and diversification into artificial intelligence (AI) data center ventures.

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🪙 Ethereum ETF issuers working to address 'reasonable' comments from SEC by Friday: Sources

Prospective spot Ethereum ETF issuers received comments from the SEC last week regarding their S-1 forms with a deadline of this Friday to get them turned around, according to two sources. While the issuers saw their 19b-4 forms approved in May, they still need the S-1 forms to become effective before trading can begin — a process with no strict deadline. These forms are currently being reworked and sent back to the SEC for further comments before being reworked again until they’re ready.

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🪙 Bitwise Investments Updates Ethereum ETF Filing, Reveals $2.5M Seed Interest

Bitwise Investments, a prominent cryptocurrency asset management firm that offers diverse investment products and services focused on digital assets, has updated its ether-based exchange-traded fund (ETF) S-1 filing with the U.S. Securities and Exchange Commission (SEC), revealing $2.5 million in seed investment interest.

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