BlackRock's Brazil ETF Launch, Nvidia's Earnings Report, and Bitcoin's Price Decline

How did your week go? It’s another time for HODL.fm news digest, and you know how it goes. This week, the DOGS team launched their airdrop, and it did well to lighten up the market. 

Anyway, here’s what’s up from the market last week.

Previous Digest: AI’s Hungry for Power, Authorities Seize 900 Bitcoin Mining Rigs, Nigeria's Crypto Exchange Licensing, Polychain Invests $6.7M in Corn

Top Gainers

• Immutable (IMX): This cryptocurrency saw an increase in its price to $1.46, representing an 11.49% gain over the past 24 hours. Its trading volume during this period was $59,509,516.
• Artificial Superintelligence Alliance (FET): FET's price rose to $1.14, marking an 11.40% increase with a trading volume of $223,361,440.
• Popcat (SOL) (POPCAT): This asset's price increased by 10.52% to $0.6592, with a trading volume of $112,438,873.

Top Losers

• Notcoin (NOT): The price of NOT dropped by 20.60% to $0.00857, with a trading volume of $153,404,142.
• Polygon (MATIC): MATIC experienced a 20.33% decrease in price, falling to $0.4258. Its trading volume was $280,767,730.
• DOGS (DOGS): This newly launched cryptocurrency's price fell by 17.39% to $0.001319, with a substantial trading volume of $793,022,651.

BlackRock Ethereum ETF Launches on the Brazilian Stock Exchange

Guess who's making a grand entrance to the Brazilian crypto market? None other than BlackRock, the investment world's heavyweight champion.

The company just rolled out their Ethereum ETF on Brazil's B3 stock exchange, sporting the catchy ticker ETHA39. 

This move comes hot on the heels of their Bitcoin ETF launch earlier this year, showing BlackRock's seriousness about expanding its crypto offerings in Brazil. 

Now, Brazilian investors can get a taste of Ethereum without the hassle of juggling digital wallets, thanks to the Brazilian Depositary Receipts (BDRs).

Price tag? A wallet-friendly R$40 to R$50 ($7.26 to $9.07). And here's the best part: BlackRock's throwing in a sweet deal on management fees. They're slashing it from 0.25% to 0.12% for the first $2.5 billion.

It's a win-win: investors get easier access to Ethereum, and BlackRock gets to solidify its position as a crypto-friendly asset manager.

Brazil's crypto scene is booming, with ETHA39 being the 15th crypto-related ETF or BDR to hit the dance floor at B3. Meanwhile, in the U.S., things are a bit... trickier with high net outflows being the norm.

On top of that, regulatory hurdles are making it tough for new crypto ETFs to get the green light. It's like that red light, green light game in Squid Games, but the U.S. regulators seem to be stuck on red.

Nvidia shatters records with Q2 revenue surge, fueling AI sector growth

Nvidia's second-quarter earnings are in, and they're mind-blowing. The AI chip giant raked in a whopping $30 billion in revenue, showing a 122% jump compared to last year. All thanks to tech giants like Microsoft, Amazon, and Google fueling the AI race.

These companies are clearly hungry for Nvidia's AI chips, driving the data center segment revenue up by a staggering 154%. Jensen must be having a good time right now—lucky guy.

Well, not really. Despite these amazing results, Nvidia's stock dipped slightly after the announcement. It seems the market's always looking for the next big thing, and maybe the initial AI frenzy is starting to cool down a bit.

But hey, with a 154% stock surge this year and a $3 trillion market cap, Nvidia's still sitting pretty.

Of course, challenges lie ahead. Competition is heating up, with AMD and Intel hot on their heels. And let's not forget those regulators breathing down the company’s neck.

Plus, the launch of their next-gen Blackwell AI chips has been pushed back. In the meantime, they're planning to ramp up shipments of their current Hopper chips to keep the momentum going until the new ones are ready to roll.

All in all, it's an exciting time for Nvidia. They're still a major player in the AI game… at least for now.

Bitcoin Drops Under $59K in Market Slump; Ether Nosedives Nearly 10%

Crypto suffered price fall as the U.S. workday wrapped up. Bitcoin stumbled below $59,000, and Ethereum followed with a nearly 10% decline. 

Earlier in the day, Bitcoin was riding high at $62,700, but it seems the good times didn't last. Ether also had a rollercoaster day, peaking at $2,700 before plummeting.

What caused this sudden sell-off? Nobody's quite sure yet. But it triggered a massive $313 million in liquidations, the biggest since the August 5th crash.

ETH traders felt the brunt of it, losing over $100 million. Other major cryptocurrencies weren't spared either. BNB, Solana, XRP, Dogecoin, and Tron all saw significant drops. It was a rough day all around.

The upside though is that Bitcoin's still up 41% for the year. Ethereum, despite its recent dip, is still holding onto a 10% gain for the year.

That’s not all; TON also managed to post some gains despite the dull market. The Telegram-associated token actually managed to gain nearly 5%, defying the overall market trend. Even the news of Telegram founder Pavel Durov's arrest didn’t leave much of a dent in its price.

Related: Telegram's New Rewards, Solana ETF Challenge, Airdrop Scandal & Wild Grok Image Creations

Wrapping Up

Well, that's a wrap for this week's crypto roundup. To do a quick recap:

• We saw BlackRock making big moves in Brazil;
• Nvidia riding the AI wave (with a few bumps along the way); 
• The market doing what it does best with those sudden price drops.  

Even the DOGS airdrop, while exciting for some, couldn't really spice up the mood.

Let’s hope next week will be a lot more exciting, but until then stay informed, stay curious, and most importantly, don't panic.

More: How to Find the Best and Upcoming Crypto Airdrops

We'll be in your face next week with more news and insights. Until then, happy HODLing!

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