CoinEx Daily:The German Government Continues to Transfer Out BTC, and the ETH ETF May be Approved

Overview

Today’s cryptocurrency market shows diverse developments, including changes in Bitcoin holdings, Ethereum ETF expectations, token economic adjustments for multiple projects, new transaction support and delisting decisions, and progress in the DeFi and staking ecosystem. At the same time, multiple projects launched new incentive programs and technology updates, demonstrating the continued innovation of the cryptocurrency industry.

Daily Macro

Bitcoin Market The German government transferred a total of 16,038.7 BTC yesterday and currently holds 23,788 BTC. This large-scale transfer may cause short-term volatility in the market, and investors should pay close attention to price trends and trading volume changes.

Macroeconomic Data Matrixport predicts that the SEC may approve a spot Ethereum ETF this week. If approved, it will be another important milestone after the Bitcoin ETF, which may drive up the price of ETH and attract more institutional investors to enter the market. Additionally, Grayscale announced July 18 as the record date for the creation and distribution of shares in the "Grayscale Ethereum Mini Trust" to which ETHE will contribute 10% of its ETH.

Daily Focus

Some projects’ token economic adjustments or exchange listing and delisting

Reason for Focus: Multiple projects have made adjustments to token economics, such as the XAI team re-locking and Astar Network destroying tokens. At the same time, exchanges’ listing and delisting decisions also affect the market.

Performance of Related Tokens:

• $XAI: The team agreed to re-lock the tokens unlocked in July for 6 months, reducing the number of unlocked tokens from approximately 85 million to approximately 17.7 million.
• $ASTR: 350 million tokens burned.
• $BOND $DOCK $MDX $POLS: Will be delisted from Binance.
• $BLAST $ZRO $ZK: Coinbase International Exchange will add perpetual futures support.
• $CQT: Proposed transition to CXT token. 
• $DIMO: Proposed to use DIMO Points (DCX).

Market Outlook: Token economics adjustments may support prices in the short term, but the long-term effects need to be observed. Listing and delisting decisions of exchanges may affect the liquidity and price of related tokens. Investors should pay attention to project fundamentals and ecosystem development, and evaluate the impact of these changes on investment strategies.

Next Focus

Project development and technological innovation

Reason for Focus: Multiple projects have launched new incentive programs and technology updates, such as Trader Joe’s Boost incentives, Fuel Points program, etc. These developments demonstrate continued innovation in the industry and may attract more users to participate.

Related Assets: 

• SOL - CBOE asks SEC to approve Solana-based ETF
• CRV - 51.4 million CRV locked in just 4 days, accounting for approximately 1/3 of all CRV emissions in 2024
• ENS - Rebranding

How to Participate: Pay attention to the technical updates and new features of each project, participate in the incentive programs of platforms such as Trader Joe and Fuel, pay attention to the development trends of projects such as Cardano and Solana, and consider participating in the DeBank XP airdrop.