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The second quarter of 2024 was marked by a historical event: the Bitcoin halving. Did this event affect the iGaming market? SOFTSWISS shares insights in its quarterly “State of Crypto” overview.
GZIRA, Malta, Aug. 13, 2024 /PRNewswire/ — Post-Halving iGaming Market Overview
The Bitcoin halving occurs approximately every four years, reducing the reward for mining new blocks by 50%. Blockchain experts believe the recent halving may lead to new regulations in the crypto-driven iGaming sector, while also potentially increasing Bitcoin’s value and benefiting Bitcoin-friendly iGaming brands.
SOFTSWISS experts analysed the data gathered from around 250 crypto-friendly brands powered by the…
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Leading cryptocurrencies surged Monday as investors piled into the segment ahead of the release of key inflation data.
CryptocurrencyGains +/-Price (Recorded 9:30 p.m. EDT)Bitcoin BTC/USD+2.09%$59,643.06Ethereum ETH/USD +6.78%$2,714.34Dogecoin DOGE/USD +5.88%$0.1076
What Happened: Bitcoin spiked above $60,000 in early trading hours, followed by a seesaw movement within the $58,500 and $59,700 range. Leading Bitcoin mining company Marathon Digital Holdings Inc. MARA announced plans to raise $250 million more to acquire Bitcoin through a new debt offering.
Ethereum breached $2,700, reaching its highest level since last week’s Monday…
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A recent poll by investment firm Paradigm indicates a growing interest in cryptocurrency among Democrats, with 18% of Democratic voters having already invested in crypto. The survey also highlights that 9% of Democrats are “very likely” to invest in the coming year, while another 18% are “somewhat likely.” However, a significant portion, 54%, remain hesitant, stating they are “not at all likely” to invest.
The poll underscores the potential impact of crypto on the upcoming presidential election, especially among those holding larger amounts. Notably, 33% of Democrats with over $10,000 in crypto see it as a crucial voting issue, reflecting the industry’s increasing political influence.
Crypto’s appeal is particularly strong among Democratic voters of color. The poll found that 22% of Black Democrats, 25% of Hispanic Democrats, and 27% of AAPI Democrats have invested in crypto, indicating a significant demographic shift in support for digital assets.
On August 12, 2024, the daily net flow of Bitcoin across U.S. ETFs demonstrated significant trading activity with a mixed impact across different funds. BlackRock’s IBIT ETF experienced the largest net inflow of +159 BTC, increasing its holdings to 347,767 BTC. In contrast, Grayscale’s GBTC saw a substantial net outflow of -3,090 BTC, reducing its holdings to 233,840 BTC.
Fidelity’s FBTC and Bitwise’s BITB also reported net outflows of -328 BTC and -300 BTC respectively. Invesco Galaxy’s BTCO observed a notable outflow of -753 BTC. However, VanEck’s HODL ETF showed some positive movement with a net inflow of +57 BTC. Valkyrie’s BRRR had a minimal change with -1 BTC.
Overall, the total Bitcoin holdings across all listed U.S. ETFs stood at 907,088 BTC, with a net daily outflow of -4,256 BTC, equivalent to a value decrease of approximately $254.1 million. This data illustrates the dynamic and varying investor sentiment and trading strategies within the U.S. Bitcoin ETF market on that day.
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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The dynamics of memecoin trading are coming to NFT markets.
Zora announced the launch of onchain secondary markets with Uniswap for its NFT collectibles last week.
This is enabled by a new “ERC-20z” token standard, an extension from the ERC-1155 standard that effectively wraps and unwraps an NFT so it becomes tradable like a standard ERC-20 token.
Zora’s new token standard addresses a typical pain point of NFT mints, namely the lack of liquidity to make NFTs tradable on a secondary marketplace after the mint closes.
Read more: Web3 Watch: A second Trump token fiasco
To bootstrap initial liquidity, the new token standard funnels a portion of mint fees into the subsequent Uniswap…
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