Daily Market Brief

Jul 16, 2024

Daily Market Brief 240716

Peter-Headshot
Peter Chung
Min-Headshot
Min Jung
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  • The market continues to rally with $BTC now trading at $64,782 and $ETH at $3,484. On the ETF front, we are seeing the sixth consecutive inflow, with early indicators showing that this trend will likely continue, marked by a $117.2M inflow from $ARKB on Monday.

  • Eric Balchunas, a senior ETF Analyst at Bloomberg, reported that the $ETH ETF is expected to launch next Tuesday (7/23). He tweeted that the SEC finally got back to issuers today, asking them to return FINAL S-1s on Wednesday and then request effectiveness on Monday after the close.

  • A few headlines include South Korea proposing to push back crypto gains taxation to 2028, Minterest being exploited for about $1.4M, and Hyperliquid revealing validator node requirements.

  • During the last 24 hours, the top three gainers were $SATS, $WLD, and $WIF, while the top three losers were $ZEC, $BDX, and $XDC.

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Peter-Headshot
Peter ChungHead of Research
Min-Headshot
Min JungResearch Analyst