Implement Web3 solutions now, or the media’s credibility will crumble

Web3 is our best hope to save the declining news media industry. By leveraging its associated technologies, we can introduce a new incentive system that addresses misinformation, bias and dwindling revenues. By introducing a new incentive system that rewards accuracy and builds public trust, we can save journalism from its current decline. If we fail to act, economic pressures could lead to its collapse.

In the digital age, news media often struggles to provide content that accurately informs the public it is meant to serve. With even the briefest introspection, it becomes clear just how dire the consequences already are for society. Many consumers have become passive in seeking out…

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Daily US Bitcoin ETFs Net Flow Analysis (As of August 14, 2024)

On August 14, 2024, the net flow of Bitcoin across various U.S. ETFs demonstrated mixed activity with both substantial inflows and minor outflows. BlackRock’s IBIT saw the most significant net inflow of +569 BTC, bringing its total holdings to 348,564 BTC. Fidelity’s FBTC also experienced a robust net inflow, gaining +372 BTC.

Bitwise’s BITB and Invesco Galaxy’s BTCO saw positive net inflows of +272 BTC and +153 BTC respectively, suggesting healthy investor interest. Additionally, Grayscale’s BTC fund increased by +133 BTC.

Conversely, Grayscale’s GBTC faced a net outflow of -209 BTC, indicating some investor retreat. ARK Invest’s ARKB also experienced a slight outflow of -100 BTC. Funds like VanEck’s HODL, Valkyrie’s BRRR, and Franklin Templeton’s EZBC reported no change in their Bitcoin holdings.

In total, the Bitcoin holdings across these ETFs stood at 907,949 BTC, with a net daily inflow of +1,190 BTC, equivalent to an approximate increase in value of $70.3 million. This overview highlights the diverse strategies and market responses among major U.S. Bitcoin ETFs.

Disclaimer: Market capitalizations and data can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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It’s Grayscale season: 5 new crypto trusts in 3 months

Grayscale is on a tear.

In the past few months, the OG crypto asset manager has launched five different single-token trusts — near and stacks in May, and bittensor, sui and maker in August.

Bittensor and sui popped after Grayscale announced the trusts earlier this month. TAO ran up to 25% in the following day while SUI almost doubled over the week. Both have since retraced slightly. 

The trusts themselves have so far amassed $655,429 in the case of SUI and $1.55 million for TAO. 

The MakerDAO product, disclosed on Tuesday but launched last Thursday, has otherwise collected $266,904 worth of MKR in private placements to date. MKR itself is up about 7.5% on the news.

The chart below…

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LATEST: Research Finds 45% of Bitcoin Hasn’t Moved in Six Months

A significant portion of Bitcoin’s supply remains untouched, with over 45% of the total supply staying dormant in wallets for at least the past six months, according to on-chain data from Glassnode. This suggests that a large segment of investors is steadfast in holding their BTC despite recent market volatility.

Long-term holders (LTHs), who retain their assets for at least 155 days, have shown resilience, preferring to keep their coins even after Bitcoin’s all-time highs. This behavior highlights growing confidence in Bitcoin’s long-term potential, with the wealth held by these investors remaining historically elevated.

Optimism is also fueled by global liquidity trends, with experts predicting that the ongoing financial policy easing could further benefit crypto markets. Despite occasional sell-offs, the consistent support from long-term holders continues to underpin Bitcoin’s stability in the face of market fluctuations.

LATEST: UEFA Champions League Partners with Crypto.com for Upcoming Season

Crypto.com has achieved a groundbreaking milestone by becoming the first cryptocurrency platform to secure an exclusive partnership with the UEFA Champions League. Announced on August 14, this multi-year deal establishes the centralized crypto exchange as an official global sponsor of one of the world’s most prestigious sports leagues. Steven Kalifowitz, Crypto.com’s Chief Market Officer, emphasized that this collaboration will significantly boost the platform’s visibility and user base, aligning with their mission to bring cryptocurrency to every wallet.

The partnership is expected to accelerate mainstream crypto adoption by introducing millions of sports fans to digital currencies. As large-scale events like the Champions League attract global attention, the awareness and acceptance of cryptocurrencies could grow exponentially, potentially driving up the market’s valuation. This development highlights the increasing convergence of sports and digital finance, paving the way for future innovations in the crypto space.

Source

What Grayscale’s new flurry of trusts says about where we’re at

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It’s Grayscale season

In the past few months, the OG crypto asset manager has launched five different single-token trusts — near and stacks in May, and bittensor, sui and maker in August.

Bittensor and sui popped after Grayscale announced the trusts earlier this month. TAO ran up to 25% in the following day while SUI almost doubled over the week. Both have since retraced slightly. 

The trusts themselves have so far amassed $655,429 in the case of SUI and $1.55 million for TAO. 

The MakerDAO product, disclosed on Tuesday but launched…

Read more on Blockworks

Ethereum Price on August 14 Through the Years

Ethereum’s price on August 14 has seen notable fluctuations since 2016, reflecting the cryptocurrency’s volatile market behavior over the years. Starting at $11.58 in 2016, the price demonstrates the humble beginnings of Ethereum in the financial market.

By 2017, the price had surged to $298, showing rapid growth. However, there was a dip to $193.6 in 2019, indicating some market corrections. The following year, 2020, saw a recovery to $430.1, which skyrocketed in 2021 to $3,302, marking a peak in market enthusiasm and investment.

In 2022 and 2023, Ethereum’s price adjusted to $1,936 and $1,839, respectively, suggesting ongoing market adjustments and some stability challenges. By 2024, the price had risen again to $2,733, indicating a renewed confidence and a steady climb in its valuation.

This year-by-year review of Ethereum’s prices on August 14 highlights the cryptocurrency’s dynamic nature and its resilience amidst market fluctuations.

Disclaimer: Market capitalizations and data can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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Here’s How Much Goldman Sachs Invested In Bitcoin ETFs (Despite Saying They’re ‘Not Believers In Crypto’) – Goldman Sachs Gr (NYSE:GS)

Global investment bank Goldman Sachs GS on Wednesday revealed significant investments in Bitcoin BTC/USD exchange-traded funds (ETFs), according to its latest 13F filing.

What Happened: The report discloses that Goldman Sachs holds positions in seven out of the 11 Bitcoin ETFs available in the U.S., highlighting a notable shift in the bank’s approach to digital assets.

The largest of these holdings is in the iShares Bitcoin Trust IBIT, valued at $238.6 million.

Other substantial investments include $79.5 million in Fidelity’s Bitcoin ETF FBTC, $56.1 million in Invesco Galaxy‘s BTC ETF BTCO, and $35.1 million in Grayscale‘s GBTC.

The bank also holds smaller stakes in…

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