Whale "Sets 10 Major Goals First" to Short BTC, Reaching a Position Size of $217 Million

July 23rd. Matt Hougan, the Chief Investment Officer of Bitwise, stated in an internal memo on July 22nd that Ethereum is currently facing a "demand shock." Since May 15th, ETFs and newly established corporate treasuries have purchased approximately 2.83 million ETH, with a total value of around $10 billion—32 times the output of the Ethereum network during this period. This supply-demand gap is likely to continue to widen. Hougan said that Ethereum has increased by more than 65% in the past month and more than 160% since April. He believes that this growth is mainly driven by a supply-demand imbalance rather than a change in market sentiment. Hougan compared this situation to the Bitcoin market in 2024. Since the launch of the US spot Bitcoin ETF in January 2024, Wall Street funds, publicly traded companies (such as Strategy and Trump Media), and even some national governments have collectively purchased more than 1.5 million BTC, while only about 300,000 BTC were mined during the sa

On July 23rd, Binance Wallet announced the launch of the exclusive Acceleration Plan and Pre-TGE event for BTR (Bitlayer): Acceleration Plan: Complete phased tasks and obtain support during the early stages of the project's development to share a 30,000,000 BTR airdrop. Pre-TGE: Eligible users can participate in the subscription of the Bitlayer token BTR before it is open for trading. Details of Bitlayer Pre-TGE Subscription: Token Name: BTR (Bitlayer) Chain: BNB Total Fundraising Amount: $400,000 (in BNB) Total Token Supply: 20,000,000 BTR (2% of the total supply) Accepted Token: BNB Price per Token: 0.02 USD equivalent in BNB Subscription Cap per Binance Wallet user: 3 BNB Participant Eligibility: To be eligible, participants must have a sufficient amount of Binance Alpha Points based on the eligibility criteria of this event.

On July 23rd, Binance Alpha has now made Codatta (XNY) available for listing.

On July 23rd, based on Coinglass data, the current funding rates of mainstream CEX and DEX show that the market remains in a neutral position. The specific funding rates for mainstream coins are presented in the attached image. BlockBeats Note: The funding rate is a fee set by cryptocurrency trading platforms to maintain the balance between the contract price and the underlying asset price. It is usually applicable to perpetual contracts and is a fund exchange mechanism between long and short traders. The trading platform does not charge this fee. It is used to adjust the cost or profit of traders holding contracts to keep the contract price close to the underlying asset price. When the funding rate is 0.01%, it represents the baseline rate. When the funding rate is greater than 0.01%, it indicates a generally bullish market. When the funding rate is less than 0.005%, it indicates a generally bearish market.

On July 23rd, in the pre-market trading of US stock cryptocurrency concept stocks, the results were mixed, including: · Sharplink Gaming decreased by 1.20%; · Circle increased by 1.48%; · Strategy decreased by 0.11%; · Coinbase increased by 0.3%; · HOOD increased by 1.72%; · BMNR increased by 2.23%.

On July 23rd, as per the report of CNBC, Goldman Sachs and BNY Mellon are scheduled to announce that they have made it possible for institutional investors to purchase tokenized money market funds. According to executives from both these companies, New York Mellon's clients, being the world's largest custodian bank, will be able to invest in money market funds whose ownership is documented on the Goldman Sachs blockchain platform. This project has attracted a group of fund giants such as BlackRock, Fidelity Investments, Federated Hermes, as well as the asset management divisions of Goldman Sachs and BNY Mellon. Wall Street giants think that following the new law signed by President Trump last week, namely the GENIUS Act, which indicates the arrival of regulated stablecoins in the US, tokenizing the $7.1 trillion money market fund is the next major step forward in the digital asset space. This legislation is anticipated to promote the mainstream adoption of stablecoins (which are typi