Guess who's back? HODL FM with another end of week spotlight to make you smarter, perhaps richer and maybe just a bit cooler.
Related: German BTC Sales, Crypto.com’s Scandal, Halving Market Mood, and Binance’s Birthday Surge
What The Punk!
What the Punk! Is a global release 80-minute feature documentary by Director Herve Martin Delpierre and Producer Mark Lustingman that digs down the extraordinary story of the most popular crypto art NFTs, CryptoPunks, and how it gave birth to a vibrant crypto art scene fueled by non-fungible tokens.
The film follows the story of two Canadian programmers working on tech and art in 2005, upto the popularity of Ethereum in 2017 where the duo composed 10,000 algorithmically generated images containing 87 unique attributes, the CryptoPunks Collection.
In the documentary, you will explore how the birth of the Ethereum ERC-721 inspired the creation of the Punks, and how the Punks fueled a generation of the Profile Picture Movement, which would later inspire other projects like the Bored Ape Yatch Club (BAYC).
Bitcoin Recovered After Germany’s Wallet Sold All its Bitcoin
The price of Bitcoin dropped to multi-month lows when Germany moved thousands of coins from its wallet, and again when Mt.Gox announced repayments of its creditors, the moment when the repayments were made as well as when Germany sold its BTC.
However, we’ve observed that Bitcoin started recovery immediately after Germany depleted all the Bitcoin in its wallet. The price bounced back 11% up over the last seven days to levels above the $60,000 psychological support where it retested $65,000.
Meanwhile, Arkham Intelligence’ founder Miguel Morel has stated that the German-government selling its Bitcoin was mainly to cash in short-term profits and maximize liquidity.
— Bold (@boldleonidas) July 16, 2024
Avalanche Large Hodlers Left The Group
Avalanche (AVAX) is 8% up since last week to $28.78 but its seems large holders are not convinced the surge from $24.45 is enough to persuade them to keep holding. The cadre could also be cashin in on profits by selling the top given that we’ve observed a decrease in large holder netflow, and an increase in whale distribution.
Large hodlers own more than 0.1% of a currency’s circulating supply. The large holder netflow on the other hand measures the difference between the coins that large hodlers have purchased and the amount they are selling within a specified period.
A low large holder netflow indicates whales are selling and is usually a bearish signal. And that is exactly what’s happening to Avalanche at the moment.
Ethereum Clears The Way For Its Killer’s ETF: Who Does That?
The upcoming launch of the spot Ethereum ETFs has cleared the way for a potential Solana based exchange-traded product. According to Bloomberg’s Eric Balchunas, a respected name known for his ETF analysis has said the Ethereum ETFs will pave the way for more crypto ETFs on both Ether and Solana.
More:
- Digest 62: Traders Lost $200 Million, AI and Crypto Could Boost GDP, China's Main Bank Crypto Outlook, Superintelligence Alliance Delay
- Digest 63: Binance Fines, Notcoin Woes, Certik-Kraken Clash & New Secure AI Startup
- Digest 64: Hamster Kombat Guinness World Record, $1.19B Lost in H1, AI Dorminants Crypto Among Others
The U.S Securities and Exchanges Commission gave preliminary approvals to about 8 applicants this week and they are all in the final phase of submitting their S-1 amendments. If all goes well, the industry is warming up for the ETH ETF to launch as early as July 23.
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