- Bitcoin sustained above $57,500 despite German government transfer of over $360 million in BTC.
- Ethereum trades above the key psychological level of $3,000 amidst Ethereum and Solana ETF optimism.
- XRP holds above $0.43, adding nearly 0.50% to its value as traders await final ruling in SEC vs. Ripple lawsuit.
Bitcoin, Ethereum and Ripple updates
- Bitcoin holds steady above the $57,000 level despite consistent pressure from German government’s BTC transfers. Data from crypto tracker Arkham shows that the government moved more than $360 million in BTC early on Tuesday, adding to the selling pressure on the king coin. Bitcoin price struggles around $58,500 as German Government transfers weigh
- Ethereum sustains above the psychologically important $3,000 level on Tuesday amidst anticipation of the approval from the Securities and Exchange Commission (SEC) of Spot ETH Exchange Traded Funds (ETFs). Issuers file amended Ethereum ETF S-1s as ETH shows recovery signs
- Ripple added 0.5% to its value and hovers around $0.43 on Tuesday. XRP traders await the end of the SEC’s lawsuit against the payment remittance firm and Ripple’s stablecoin RealUSD (RLUSD) launch, slated for end of 2024. Ripple on-chain activity picks up as XRP hovers around $0.43
Chart of the day
BONK/USDT daily chart
BONK is trading at $0.00002624 at the time of writing. The meme coin is likely to extend its gains by another 14% and climb to $0.00003006, the 50% Fibonacci retracement of the meme coin’s drop from the March 4 top of $0.000048 to the April 13 low of $0.000012.
The Relative Strength Index (RSI), a momentum indicator, reads 55.46, above the neutral level. This signals there is positive momentum in BONK’s uptrend.
Market updates
- Data from Soso value shows that the total net inflow of Bitcoin Spot ETFs was $295 million on July 8, the highest level in 21 days. This supports the case for Bitcoin’s recovery after the recent correction.
- Cboe BZX filed form 19b-4 for the 21Shares Core Solana ETF and VanEck Solana Trust, market participants await Solana ETF approval by the regulator.
- Shiba Inu announced Block Travel accepts SHIB as payment for flights and hotel bookings in recent tweet.
SHIB takes flight in the travel industry! Block Travel, a global travel agency, now accepts $SHIB for flights, hotels & more! ✈️ Let us know your dream Shiba travel destinations in the comments!
— Shib (@Shibtoken) July 8, 2024
Read about it below https://t.co/PLkfxDo4WX
Industry updates
- A report from Forbes shows that Argentina has a higher rate of crypto adoption compared to any other country in the Western Hemisphere. Out of 130 million crypto traders across the world’s 55 largest exchanges, 2.5 million are from Argentina.
- A Layer 2 solution was launched, leveraging Arbitrum Orbit tech stack, called OEV Network mainnet. API3 launched the Layer 2 project to enable DeFi protocols to reclaim the value they lose to liquidations.
The solution to oracle extractable value is here!
— API3 (@API3DAO) July 9, 2024
@OEVNetwork is officially live and integrated with the API3 Oracle Stack.
Every lending protocol, on every API3 supported chain, now has a built-in solution to recapture protocol MEV.
It pays to upgrade your oracle. pic.twitter.com/I0rSpTUb6l
- Digital trust network Nodle proposes using smartphones as nodes to create a DePIN solution for real-world use cases. This is a part of the Elastic Chain network.
.@NodleNetwork’s dePIN infrastructure will allow other ZK Chains to fight misinformation across the Elastic Chain by cryptographically verifying digital content using @clickdeepreals. https://t.co/ewKSJzIN4e
— ZKsync (∎, ∆) (@zksync) July 8, 2024
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks

Storj Price Forecast: Bulls aiming for double-digit gains
Storj (STORJ), an open-source platform that leverages the blockchain to provide end-to-end encrypted cloud storage services, continues to trade higher by 4.4%, around $0.39 on Tuesday after rallying 5% the previous day.

XRP declines below $2.72 key level as Elon Musk's DOGE to begin SEC examination
Ripple's XRP saw a 4% decline in the early Asian session on Tuesday following an announcement that the Department of Government Efficiency is targeting the Securities and Exchange Commission (SEC) as the next agency to face its examination process.

FTX repayments stir mixed feelings among investors, sending Bitcoin and Solana down
Bitcoin (BTC) and Solana (SOL) experienced declines on Monday as defunct crypto exchange FTX will begin redistributing tokens owed to creditors from its collapse in 2022, starting with those who held $50,000 or less.

Toncoin Price Analysis: TON nears $4 as LTC and DOGE ETF hype lifts PoW sector
Toncoin price has consolidated within the 2% tight range between $3.8 - $4 over the last 12 days.

Bitcoin: BTC consolidates before a big move
Bitcoin price has been consolidating between $94,000 and $100,000 for the last ten days. US Bitcoin spot ETF data recorded a total net outflow of $650.80 million until Thursday.

The Best Brokers of the Year
SPONSORED Explore top-quality choices worldwide and locally. Compare key features like spreads, leverage, and platforms. Find the right broker for your needs, whether trading CFDs, Forex pairs like EUR/USD, or commodities like Gold.