Crypto tour💰

#Altcoins⚡️ What if Altcoins are exactly where they were in 2020? Consolidation before the next wave up.👀 Most people wouldn't expect it.

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💰 ETF trading volumes on decline, failing to hit $3 billion since mid-May On July 2, Bitcoin (BTC) exchange-traded funds (ETFs) experienced their first outflow of July, as reported by Farside. The day saw a $13.7 million outflow, breaking a five-day trading streak of consecutive inflows. Leading the day’s activity was Grayscale’s GBTC, which recorded a substantial $32.4 million outflow, bringing its total net outflow to a staggering $18.5 billion.

🇺🇸 SEC looks to end Ethereum staking through MetaMask in new lawsuit The SEC has filed a new lawsuit against Consensys for alleged violations of federal securities laws. The complaint centers on Consensys’s MetaMask wallet services, specifically the Swaps and Staking features, which the SEC claims have been operating as unregistered broker services since October 2020 and January 2023, respectively. The SEC asserts that Consensys has collected over $250 million in fees from these activities without providing necessary investor protections.

Bitcoin (BTC) Will Reach $1 Million Within Next Year, Samson Mow Predicts Samson Mow, CEO of BTC adoption-focused company Jan3, has made another bullish Bitcoin prediction, stating that the cryptocurrency will reach $1 million by 2025. Mow is known for his long-term bullish forecasts, attributing the potential price surge to factors such as the approval of spot Bitcoin ETFs and the recent Bitcoin halving. He believes that the demand shock created by ETFs accumulating BTC and the supply shock resulting from the halving will lead to a significant price increase. However, despite Mow's optimism, Bitcoin has experienced a significant drop in value over the past 24 hours, falling from $64,345 to $62,190. This decline is attributed to selling pressure from Bitcoin miners looking to cover expenses and secure profits.

Cardano (ADA) Bounces Around $0.3, But for How Long? Cardano recently experienced an unexpected bounce from a local support level around $0.35, showing potential for a battle with the 26 EMA for momentum in the coming days. This bounce marks a crucial step in potentially breaking a persistent downtrend that has affected the cryptocurrency for an extended period. Maintaining a position above $0.35 is vital for Cardano in the near term, as this level has historically provided strong support and could lay the groundwork for a future upswing. If Cardano can gather enough momentum to challenge and surpass the 26 EMA, it could signal the beginning of a recovery phase. Despite being in oversold territory, Cardano has faced challenges in maintaining its value over time, attributed to competition from rival blockchain platforms and slower-than-expected development progress.

Top Crypto to Buy Right Now 1)Bitcoin – Best for long-term holding (trading at: $65,529.99) 2)Ethereum– Best for dApp development (trading at: $3,569.94) 3)XRP  – Best for cross-border transactions (trading at: $0.492) 4)Solana – Best for fast and low-cost transactions (trading at: $141.11) 5)BNB– Best for paying exchange fees (trading at: $604.67) 6)Dogecoin– Best for online gambling (trading at: $0.125) 7)Cardano– Best for blockchain interoperability (trading at: $0.395)

Ethereum Network Gas Fee Drops To 4 Gwei BlockBeats reported a significant decrease in Ethereum's gas fee to 4 gwei on June 16, based on data from Etherscan. This reduction is crucial for Ethereum users as it directly impacts transaction costs on the network. Gas fees are payments for computational energy needed to process transactions, and lower fees can make transactions more affordable, potentially boosting Ethereum's usage and popularity. It's important to note that gas fees can fluctuate based on network demand, with higher demand leading to increased fees. The drop to 4 gwei suggests a current lower demand on the Ethereum network. This development is significant for the Ethereum community and could influence future network usage and development trends. However, users and investors should continue to monitor the situation, as gas fees can change rapidly based on network activity.

Key Reason Why Bitcoin (BTC) Is Struggling now The post-FOMC state of the market has revealed a struggle for Bitcoin miners, who are facing massive capitulation and closing their positions. This trend is capping the price of BTC and preventing it from gaining upward momentum, despite strong equities performance. Additionally, the bankruptcy proceedings of Flowbank, a bank with ties to Binance, are further complicating market dynamics for Bitcoin. As a result, the market is expected to remain quiet with lower volatility, creating a strategic window for Ethereum traders to consider accumulation trades and redistribution of risks, given the potential approval of an ETH spot ETF and higher volatility compared to BTC.