Bloomberg: NFT Market Sees Fifth Consecutive Quarterly Decline, Significant Drop in Trading Volume
On July 9th, according to Bloomberg, what was once a highly sought-after field by cryptocurrency traders and enthusiasts, NFTs now appear to have shed their former luster. This once booming track has witnessed a consecutive decline in trading volume for five quarters.
According to data compiled by DappRadar, the total NFT trading volume in the second quarter dropped to $823 million, as opposed to $4 billion in the same period last year. Despite a 19% decrease in 2024 NFT trading volume, marking the worst year ever for the field, this year's data suggests that the market slump has not yet reached its bottom.
These figures also reflect that digital assets represented by collectible cartoon avatars and viral meme NFTs are gradually losing their previous appeal.
16 minutes ago
Tether Holds $8 Billion Worth of Gold in Swiss Secret Vault
On July 9th, as reported by Bloomberg, being the issuer of the world's largest stablecoin, Tether Holdings SA maintains its own gold treasury in Switzerland. It holds $8 billion worth of gold and intends to increase its gold reserves.
This cryptocurrency company, which is based in El Salvador, announced that it currently holds nearly 80 tons of gold. The major portion of it is directly held by Tether, making it one of the largest gold holders in the world outside of banks and countries.
Paolo Ardoino, the Chief Technology Officer of Tether, stated: "We possess our own treasury gold. I think this is the safest gold treasury in the world." The facility is situated in Switzerland. However, for security reasons, the company has declined to disclose its specific location and founding date.
16 minutes ago
Analysis: Fed's Actual Rate Cut May Happen Next Year, Year-End Rate Expected to Slightly Decrease
On July 8th, Brendan Murphy, the Director of Fixed Income at Insight Investment, stated in a report that US interest rates may see a slight decline by the end of this year. However, a substantial rate cut is likely to happen next year.
Although the economic outlook is weakening, the inflationary pressures resulting from the recent US trade tariffs will make the Fed's policy response more complex. In this situation, the Fed is anticipated to adopt a cautious approach.
The institution forecasts that in 2026, when inflationary pressures subside and growth concerns become the predominant factor, the Fed will adopt more decisive rate-cutting measures. (FXStreet)
16 minutes ago
「Insider Trader」 @qwatio's short position has triggered liquidation once again, resulting in a $17.11 million loss
On July 8th, as per the monitoring of Onchain Lens, the "Insider Trader" @qwatio has once again undergone partial liquidation. Up to now, his 40x leverage short position in BTC and his 25x leverage short position in ETH have collectively lost a sum of $17.11 million.
16 minutes ago
Upexi's SOL Holdings Surpass 735,000 Coins, While Simultaneously Exploring Entry into Tokenized Equity Sector
On July 8th, as reported by The Block, Upexi is a company that has integrated Solana into its corporate treasury assets. The company indicated that as of the end of June, its holdings of SOL amounted to 735,692 coins, representing an 8.2% increase compared to May.
Since investors submitted applications to sell off millions of shares, Upexi's stock price has declined by approximately 60% and has been remaining below $4 per share ever since. Last month, the stock briefly soared to over $15 but then retreated.
Upexi is one of the few companies trying to replicate Strategy's successful treasury strategy centered around Bitcoin while focusing on alternative coins like Solana. As the Bitcoin price rises, Strategy's stock price has witnessed a significant increase. Other companies following a Solana accumulation strategy include DeFi Dev Corp and SOL Strategies in Canada.
16 minutes ago
A whale liquidated their position by selling $4.53 million worth of FARTCOIN, experiencing a $631,000 loss, just 3 days after buying in.
On July 8th, based on LookOnChain's monitoring, a whale that had spent 4.53 million USDC to purchase FARTCOIN three days prior has just sold the entire amount within the past 30 minutes. In return, it only received 3.9 million USDC, resulting in a loss of up to $63.1k.
16 minutes ago
App Store
Profile
Security
Sign Out
Feeds
Articles
Source
Add to Favorites
Download image
Share x
Copy link
