Fred, bless him, popped up on Bloomberg—because where else does one go to burst bubbles on live TV?—to say, more or less: “Look, folks, the gold rush is overcrowded, and several prospectors forgot their pants.” Apparently, the grand plan of flipping your sleepy, barely-profitable company into a Bitcoin hoarder isn’t quite as bulletproof as it sounded over happy hour.
On-chain data from CryptoQuant adds to the optimism. The Binary Coin Days Destroyed (CDD) metric—which tracks the movement of long-dormant coins—shows that ancient coin activity is currently twice below its annual moving average. Historically, spikes in CDD often signal the beginning of distribution phases by long-term holders. The current subdued activity, however, suggests that seasoned investors remain confident, opting to hold rather than sell.
AVAX might be nearing the end of its corrective phase. The weekly chart from TrendFi shows a well-defined falling wedge pattern. Price has been compressing within this wedge for several months, steadily forming lower highs and higher lows. This kind of structure typically builds pressure that eventually resolves upward, especially when volume starts to pick up near the end.
The bigwigs at the Secret Service’s Global Investigative Operations Center—get a load of that name, it’s like they’re auditioning for the next James Bond movie—have been using blockchain analysis, open-source tools, and “thorough” investigative methods. Okay, sure. Maybe they’re just scrolling Reddit like the rest of us and calling it intelligence work.
Telegram’s blockchain dreams are about to get a whole lot bigger, folks. The Open Platform (TOP), the brains behind the “Wallet in Telegram” and other TON apps, just announced a $28.5 million Series A funding round, making them a billion-dollar baby. 🎉
Enters, with grand flourish and a powdered wig barely containing his enthusiasm, the sage Ted Pillows. “Gentlefolk! Attend!” he proclaims. “A Wyckoff accumulation doth unfold! Behold, the smart money struts and frets upon the stage, seeking the next act where ETH, the erstwhile understudy to Bitcoin’s Hamlet, may seize yon spotlight and soliloquize to the moon!”
There’s a seismic shift brewing in the world of finance and it’s all thanks to the latest U.S. push to regulate dollar-backed stablecoins. Poor U.S. currency—first it had inflation to deal with, now this? Amundi, the head honcho of Europe’s asset management scene with over €2 trillion ($2.36 trillion) in assets (that’s more money than I’ll ever see), raised a ruckus on July 3rd about the Senate’s recent GENIUS Act. Just when we thought “Genius” was reserved for naming your smartest friend’s cat, here it is trying to overtake global money flows like it’s in a race at the Olympics.
But beneath the surface, a different story is unfolding. Steady inflows into Ethereum-based Spot ETFs have been keeping the mood green. According to on-chain analytics platform Lookonchain, US-based Ethereum ETFs recorded a net inflow of 36,439 ETH on July 4, valued at approximately $92.19 million. This builds on a solid showing the day prior on July 3, when daily net inflows into the ETFs totaled $148.57 million.
If you were looking for enterprise-grade excitement, Ripple delivered just that on July 3rd. In an announcement that no doubt triggered a thousand fintech PowerPoint slides, Ripple joined hands with Tenity—a global fintech incubator best known for its mysterious Swiss efficiency and, one must assume, robust coffee habits. Together, they’re hatching an accelerator program designed to unshackle entrepreneurs building on the XRP Ledger (XRPL), presumably because “unshackling” sounds much cooler than “supporting.”
Ethereum is expected to remain more subdued, with most bets backing a move to $2,700, which has attracted the highest confidence at 60%. The chances of ETH hitting $2,900 stand at 34%, while a push to $4,000 is viewed as highly unlikely, sitting at just 1%. 😴