Miniprogram: Daily Cryptocurrency News Summary
Tesla's total revenue for the second quarter of this year was $25.5 billion, and its bitcoin holdings have remained unchanged for eight consecutive quarters.
Tesla's latest financial report for the second quarter of 2024 showed total revenue of $25.5 billion for the quarter, higher than the expected $24.63 billion. Net income under GAAP was $1.5 billion, and free cash flow was $1.34 billion. In addition, Tesla did not buy or sell any bitcoin during this quarter, marking eight consecutive quarters of no trades. Tesla currently holds about 9,720 bitcoins, which were purchased at a cost of approximately $337 million. Tesla last reduced its bitcoin holdings in the second quarter of 2022 when it sold over 300,000 bitcoins for $936 million, about 75% of its holdings at the time. Tesla initially purchased $1.5 billion worth of bitcoin in early 2021. Furthermore, Elon Musk stated during the earnings call that the company will release its self-driving taxi Robotaxi on October 10, which was originally scheduled for release on August 8.
"Rich Dad Poor Dad" author predicts bitcoin will reach $105,000 if Trump wins the election.
Robert Kiyosaki, the author of Rich Dad Poor Dad, predicts that if Donald Trump is re-elected as President of the United States, the dollar will weaken, causing the prices of gold, silver, bitcoin, and other assets to rise. By August 2025, gold will rise from $2,400 per ounce to $3,300, silver will rise from $29 per ounce to $79, and bitcoin will rise from $67,400 per coin to $105,000.
The latest round of fundraising by the U.S. Democratic Party was successful, and the Harris meme token reached a historic high. Influenced by events such as the latest round of donations raised by the U.S. Democratic Party in 24 hours, Harris' odds of winning on Polymarket rose to 37%. As a result, the Harris meme token set new records, with KAMA on the Solana chain trading at $0.03352, up 64.32% in 24 hours, and HARRIS on the Ethereum chain trading at $0.00001159, up 164% in 24 hours.
In the past two weeks, the market capitalization of major cryptocurrency mining stocks has increased by billions of dollars, with most companies achieving double-digit percentage growth. Marathon Digital (MARA), for instance, saw its market cap soar from $5.51 billion on July 8 to $7.56 billion at the end of this week, a 37% increase in five days and 27% increase in the 11 days up to July 19. Riot Platforms (RIOT) had a similar pattern, climbing from $2.78 billion to $3.67 billion and achieving a net increase of 32% in the second week of July, closing at $3.16 billion last weekend. Hut 8 Mining's (HUT) growth rate was smaller, rising from $1.58 billion two weeks ago to $1.76 billion at the end of this week, an increase of 11%.
BlackRock's Bitcoin spot ETF saw its highest inflow since early March.
Bitcoin News on platform X stated that BlackRock's Bitcoin spot ETF inflow hit a record high since early March, reaching 0.525 billion US dollars.
In the past two weeks, the market capitalization of bitcoin mining stocks has increased by billions of dollars.
In the past two weeks, the market capitalization of major cryptocurrency mining stocks has increased significantly, with most companies achieving double-digit percentage growth. Marathon Digital (MARA), for instance, saw its market cap soar from $5.51 billion on July 8 to $7.56 billion at the end of this week, a 37% increase in five days and 27% increase in the 11 days up to July 19. Riot Platforms (RIOT) had a similar pattern, climbing from $2.78 billion to $3.67 billion and achieving a net increase of 32% in the second week of July, closing at $3.16 billion last weekend. Hut 8 Mining's (HUT) growth rate was smaller, rising from $1.58 billion two weeks ago to $1.76 billion at the end of this week, an increase of 11%.
The first day's trading volume of the Ethereum spot ETF exceeded $1 billion, with Grayscale ETHE accounting for nearly half.
According to data from The Block, nine Ethereum spot ETFs listed on U.S. exchanges saw a cumulative trading volume of over $1.019 billion on their first day. Grayscale Ethereum Trust (ETHE) ranked first with a trading volume of $0.456 billion, accounting for nearly half of the total trading volume. BlackRock's Ethereum spot ETF (ETHA) had a trading volume of $0.24 billion, accounting for 24% of the share, and Fidelity's Ethereum fund (FETH) had a trading volume of $0.136 billion, accounting for 13% of the share. By contrast, the trading volume of the Bitcoin spot ETF on its first day of listing this year was $4.6 billion.
Bloomberg analysts: The total initial asset amount of the U.S. Ethereum ETF is slightly below $10.3 billion.
Bloomberg ETF analyst James Seyffart on X platform said: "The chart below shows the initial asset level of the Ethereum ETF launched today. The total initial asset amount of the U.S. Ethereum ETF began trading slightly below $10.3 billion (almost all of which came from ETHE's assets)."
Fidelity: Ethereum experienced high inflation in the last quarter, with total supply increasing by about 110,000 ETH.
According to CoinDesk, Fidelity Digital Assets stated in a recent report that the Ethereum blockchain experienced its highest period of inflation in the last quarter, with total supply increasing by about 110,000 ETH, or an annual inflation rate of 0.37%. Analysts Daniel Gray and Max Wadington wrote: "Although Ethereum's supply is unlikely to fluctuate dramatically in the medium term, the growing user preference for L2 platforms with lower fees and the increasing demand for staking suggest that periods of inflation may become more frequent." The report stated that since April of this year, the number of validators on the Ethereum network has increased by 5%, and the recent introduction of re-staking may further increase demand for staking.
In Jiangsu Zhenjiang City, a case of illegal fundraising through virtual currency was cracked down, involving more than 40 million yuan.
According to Yangtze Evening News, under the guise of "joining the game with just one FIL coin to get double benefits, and developing downlines to get quadruple team benefits", a partnership established a specialized company and attracted over 10,000 members from provinces including Jiangsu, Guizhou, and Hunan within less than a year through an App they developed. The amount involved in the case was more than 40 million yuan. On July 20th, the reporter learned from Jingkou District Procuratorate of Zhenjiang City, Jiangsu Province that the court recently sentenced Li and eight other people to three to five years of suspended imprisonment for the crime of illegal acceptance of public deposits and imposed a fine of 210,000 to 250,000 yuan after the prosecution filed charges. The investigating team believes that Li, Li, and other people formulated the rules of static income and dynamic income in order to promote the FPM platform. Although the dynamic income rule belonged to pyramid selling crimes that attracted people with high returns and constantly developed downline members in the form of human trafficking, it was audited and found that Li and others pledged and mined heavily with mining machine merchants using a large amount of FIL coins they absorbed, and as of the case, they had continued to mine and earn profits from FIL coins without transferring funds. Therefore, they lacked subjective intention of defrauding property and were convicted of "the crime of illegal absorption of public deposits". During the review and prosecution period, the procuratorial organ conscientiously implemented the policy of "combining severity with leniency" in criminal justice, strengthened the interpretation of laws and reasoning, and encouraged 8 criminal suspects to plead guilty and accept punishment voluntarily. Recently, the court adopted all the opinions and sentencing recommendations of the procuratorial organ and made the aforementioned judgment.
Analysis: The popularity of Ethereum spot ETF has been digested by the market, and investors may quickly make a profit and liquidate. Digital asset research company BRN's analyst Valentin Fournier said in an email that we recommend maintaining a positive exposure to the cryptocurrency market, but we are more inclined to Bitcoin than Ethereum, because we believe that Ethereum's speculation and inflows of ETFs have been digested by the market. We expect Ethereum to fall to the level of $2,800 to $3,100, and then rebound to $4,000 in September. Markus Thielen, founder of 10x Research, expressed a similar view in Tuesday's newsletter, saying that once (Ethereum spot) ETF is launched, investors will liquidate their profits.
Cryptocurrency will prove to be a better investment delivery tool, according to The ETF Store President.
Toyota is exploring the integration of Ethereum blockchain into its vehicles, and the purpose of developing the "Mobile Oriented Account" (MOA) tool using ERC-4337 standards is to move towards fully automated driving direction, according to the official website of Toyota Blockchain Lab.
The ETF Store President: Cryptocurrency will prove to be a better investment delivery tool.
12. The President of The ETF Store: Cryptos Will Prove Themselves to Be a Better Investment Delivery Tool.
The President of The ETF Store, Nate Geraci, said on X platform, "My traditional finance friends ignored this fact. Mutual funds are the past, ETFs are the present, and cryptos are the future. Cryptocurrency ETFs are the bridge that connects the present and the future. Cryptos will prove to be a better investment delivery tool (among other things). In my opinion, cryptos are inevitable, it's that simple."