Now, you might be wondering, “What does this mean for the price of SHIB?” Well, my friends, that’s the million-dollar question. While it’s true that reducing the circulating supply of a digital asset or increasing its scarcity should theoretically lead to a price gain, the current aggressive burn has yet to translate into such for SHIB.
As of July 8, Hedera (HBAR) was gallantly trading at $0.1525 – a small but significant step above this month’s dismal low of $0.1255. While that’s still a whopping 30% below the March high, we must remind ourselves that even bears need a little sunshine once in a while. And this is still very much within bear market territory, so don’t get too carried away just yet, darling. Bear hugs are still in effect. 🐻
The yield on the Japanese 30-year government bond (JGB) has surged over 30 basis points (bps), topping the 3% mark for the first time since May 23, when it hit a high of 3.20%, according to data source TradingView. The 40-year yield has risen nearly 15 basis points to 3.36%.
As the sun sets over the bustling world of cryptocurrencies, the CoinDesk 20 Index, that grand and noble index, stands tall at 3110.62, a mere 0.8% higher (+24.19) since the witching hour of 4 p.m. ET on Monday. A modest gain, one might say, but in the world of crypto, every little bit counts, doesn’t it? 🤷♂️
For months, Metaplanet bought Bitcoin as if they were stockpiling potatoes before a Siberian winter, each satoshi lovingly stacked, each transaction a small rebellion. Now, they look around—Bitcoins amassed, fingers frozen to the ledger—and mutter to themselves: “Perhaps, now, the real mischief begins.” 🏦
Now, don’t get your hopes up just yet, because according to recent data, the top bots on LetsBonk are churning out new tokens faster than you can say “pump and dump.” Every three minutes, a fresh token is born. And in a 24-hour period, 13 wallets collectively launched over 4,200 tokens—talk about automation on steroids. 🐦💸
The Cumulative Volume Delta (CVD), a fancy metric that measures the net buy/sell pressure, has been negative throughout this period, which is a bit like saying the crowd is cheering for the underdog. But Bitcoin, the reigning champion, has maintained its range between $100,000 and $110,000, absorbing the blows like a pro 🥊.
The iShares Bitcoin Trust (IBIT), BlackRock’s foray into the world of Bitcoin, now boasts an impressive 700,000 BTC, a staggering 55% of the total Bitcoin held across all US spot Bitcoin ETFs 📈. Valued at a cool $80 billion, this milestone is a testament to the company’s aggressive accumulation strategy, as noted by ApolloSats co-founder Thomas Fahrer.
A particular detail, both delicious and scandalous, is the mention of “orderbook” machinations and “approval” affairs; such words call to mind the intricate rituals of Ethereum-based gatherings. Token creation tools and subscription pricing, when glimpsed from behind the curtain, give every impression that PumpFun is hard at work upon its own EVM-compatible dance floor. How exhilarating! One can only imagine the future launches waltzing about, perfectly in step—or perhaps, occasionally, stepping on toes. 💃🕺
On the agenda: the regulatory environment surrounding cryptocurrencies, with a special focus on proposed legislation like the GENIUS Act and the CLARITY Act. Because, you know, clarity is exactly what the crypto world needs right now 😂.