Crypto Market’s Finally Learning To Ignore FUD

What Happened in Crypto Today: The Crypto Market Is Finally Learning to Ignore FUD

The cryptocurrency market has nerves of steel…

Mt. Gox transferred $3 billion worth of Bitcoin and the price barely budged.

Is the crypto world finally growing, or have we all become desensitized to the chaos?

The days of panic selling on every headline seem to be over (at least in this cycle) and the market has been showing some serious resistance lately.

So, let’s dive into today’s most important crypto news. For those of you who like your information in bite-sized pieces, here’s the TLDR:

Elon is back in the crypto game and has endorsed Bitcoin. Is Musk’s return to public support for Bitcoin a bullish sign? 🤔

Trump wants America to be the leader in Bitcoin mining. How effective would that be for Bitcoin or altcoins? 💻

Solana has been on a roller coaster ride, rising 16% and falling 8%. Is Solana betting too much on memecoins and the ETF dream? What do analysts think? 🎢

BlackRock says only Bitcoin and Ethereum are worth the ETF for now, not the Solana ETF. But Solana says the ETF is still backed by major institutions. 📊

Hamster Kombat is planning a major token airdrop. Won’t this cause a market crash? Do you have any plans? 🐹

We will also provide our analysis of what is really going on in the market and what might happen next.

Let’s start!

Elon Is Back, Talking About Crypto

Elon Musk is once again offering his unique take on crypto.

Musk gave an endorsement of Bitcoin at an X event, saying it has “some value.”

But let’s be real, his heart still belongs to Dogecoin. “I have a thing for Dogecoin because I just love dogs and memes,” he joked.

But Elon made one thing clear: “If you see me pumping crypto, it’s not me.”

So is Musk’s renewed public support for Bitcoin a bullish sign? Read the full story!

Another Bullish Statement from Trump

The former president wants America to lead the global Bitcoin mining race.

Analysts at AllianceBernstein predict that this could be a game-changer for the mining industry, with a potential $20 billion market for mining chips and hardware in the next five years.

Currently, most mining hardware comes from China, but Trump’s move could reverse that scenario.

For U.S. Bitcoin miners, this could be like hitting the jackpot: better efficiency, cheaper chips and even the chance to dabble in artificial intelligence and high-performance computing.

This is a big deal for crypto investors. We’re looking at a potentially major shift in the global Bitcoin mining landscape. Could “Made in America” be the new standard for mining rigs?

How effective would this be for Bitcoin or altcoins? Read the full story!

Solana Continues Its Rise

Solana’s SOL token surged 16% to $193.92, which was soon followed by an 8% correction, with the price dropping to $179.

The story continues

Despite the pullback, SOL is up an impressive 23.5% in July.

The driver? ETF speculation. With Ether ETFs now trading in the U.S., all eyes are on SOL as the potential next in line. The SEC’s decision, expected in March 2025, is keeping investors on their toes.

The Memecoin craze also plays an important role.

Platforms like Pump.fun generate massive volumes with fees that exceed even Bitcoin’s protocol fees. This is a double-edged sword – it drives activity but raises concerns about sustainability.

Is Solana overconfident in memecoins and ETF dreams? What do analysts think? Read the full story!

BlackRock’s: Bitcoin and Ethereum Lead

Speaking of ETFs, according to Samara Cohen, BlackRock’s CIO, only Bitcoin and Ethereum will be traded through ETFs in the near future. They are the only ones that meet BlackRock’s strict criteria.

There is no demand for other cryptocurrencies, including Solana, yet.

Despite the buzz about Solana, it’s not on BlackRock’s ETF radar.

But the crypto ETF world is far from stagnant. The recent Ethereum ETF launch saw trading volumes reach $14.8 billion in a week. That’s significant momentum in a short period of time.

So is this the end of the Solana ETF dream? Absolutely not!

However, we see that the Solana ETF is still backed by large institutions. Read the full story!

Hamster Kombat Will Distribute Tokens to 300 Million Players

Hamster Kombat has reached a monumental milestone of 300 million players in less than five months.

Now, they’re gearing up for what they’re calling “the biggest airdrop in crypto history,” with 60% of HMSTR tokens going directly to players. This is a serious commitment to their community.

Here’s an interesting twist: HMSTR has no venture capital or early investment behind it. The value of the token will be driven entirely by market demand.

But wouldn’t issuing this amount of tokens via an airdrop cause a massive sell-off and thus a major price drop? Is the team preparing to prevent this? Read the full story!

Where Are We Going? An Analysis

The crypto market has recently taken a dive after the US government moved $2 billion worth of Bitcoin from Silk Road funds. In yesterday’s analysis, we covered everything and how the situation could develop in the future.

So don’t panic, we are still around the prices we saw yesterday.

Let’s take a look at what really goes on behind the scenes.

HODLers Stand Strong

Glassnode data reveals compelling insights into investor behavior.

The Supply Last Active 1y+ metric shows that 65.8% of Bitcoin has not moved in over a year, indicating a strong holding mentality among long-term investors.

Source: Glassnode

This shows that a significant portion of the market has confidence in Bitcoin’s future prospects.

The Cap HODL Wave metric that has occurred gives us a unique view into how Bitcoin wealth is distributed. It shows that newer investors (those who have held Bitcoin for less than three months) currently own less of the total Bitcoin wealth than they did previously.

This usually happens when we are not at the peak of excitement in the market, which indicates that we are not yet at the peak of this cycle.

At the same time, people who bought Bitcoin 3-6 months ago are seeing their share of the network’s wealth increase, suggesting that these recent buyers are sticking around and becoming more committed to holding their Bitcoin.

When we look at the Long-Term Holder Supply, we see that 45% of all Bitcoin wealth is held by patient, long-term investors. That’s a pretty high number.

The Long-Term Holder Binary Spending Indicator supports this, showing that these experienced traders are not selling as much and are actually selling less than before. This behavior of long-term holders can help the market remain stable even when prices are shaky.

Summary?

Bitcoin data shows that 65.8% of Bitcoin has not moved in over a year, indicating strong investor confidence. Long-term holders own 45% of Bitcoin wealth and are not selling much, potentially balancing the market.

Beyond Bitcoin: Solana’s Expansion

While Bitcoin is on the agenda, Solana is making interesting moves:

It is becoming a bigger player in stablecoins and real-world assets (RWAs).

Projects like Ondo’s USDY and the partnership with Maple Finance put Solana on the same map as big names like Ethereum and Tron.

This diversity can make the entire crypto world stronger. We are not just talking about one coin anymore.

The big picture

Sure, prices are going up and down every day. But that’s not the whole story. What’s really important is that crypto is slowly becoming part of mainstream finance. More stablecoins, more real-world assets in crypto — these are signs of a growing, maturing market.

So What Should Be Your Next Step?

The recent market decline may be troubling, but our data analysis paints a more nuanced picture.

While long-term Bitcoin holders remain firm, new investors are moving into more stable positions, indicating fundamental confidence despite short-term volatility.

Instead of reacting to every price fluctuation, consider focusing on understanding these broader market dynamics.

For a clearer view of Bitcoin’s market health, check out CMC’s Bitcoin analytics tool . It provides insights into whale holdings, address changes, and holding patterns over time. This data can help you contextualize market movements and make more informed decisions about your crypto strategy.

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