Daily Market Brief

Jul 9, 2024

Daily Market Brief 240709

Peter Chung
Min Jung
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  • It was a choppy session dominated by the German government’s selling. $BTC traded between 54k and 58k and is now trading at $56,724, while $ETH is now trading at $3,019.

  • Yesterday, the German government transferred 16k $BTC (~$915M), bringing the total transferred to 26k $BTC. Currently, 23k $BTC remain in the address. Some sources report that the German government has made test transactions to DRW Cumberland for OTC.

  • A few other headlines include DeBank launching an XP airdrop, Metaplanet Japan buying more $BTC, and VanEck releasing an $ETH ETF report.

  • During the last 24 hours, the top three gainers were $ELF, $TIA, and $ENS, while the top three losers were $PENDLE, $SATS, and $ZRO.

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Peter ChungHead of Research
Min JungResearch Analyst