{"id":16175,"date":"2024-08-17T15:30:00","date_gmt":"2024-08-17T12:30:00","guid":{"rendered":"https:\/\/forklog.com\/en\/cryptocurrency-insights-bitcoins-death-cross-ethereums-inflation-and-dogs-airdrop\/"},"modified":"2024-08-17T15:30:00","modified_gmt":"2024-08-17T12:30:00","slug":"cryptocurrency-insights-bitcoins-death-cross-ethereums-inflation-and-dogs-airdrop","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/cryptocurrency-insights-bitcoins-death-cross-ethereums-inflation-and-dogs-airdrop\/","title":{"rendered":"Cryptocurrency Insights: Bitcoin’s ‘Death Cross’, Ethereum’s Inflation, and DOGS Airdrop"},"content":{"rendered":"

“Should Have Bought” is a news podcast by the ForkLog editorial team covering the week’s main events in the industry and the hottest tokens.<\/em><\/p>\n

Topics: Bitcoin’s ‘death cross’, inflation stabilization, 120 million ETH, DOGS airdrop, Trump and Musk interview.<\/em><\/p>\n

Participants: ForkLog authors <\/em>Lena Jess<\/em> and <\/em>Vasily Smirnov<\/em>.<\/em><\/p>\n

Reaction to Macroeconomic Data<\/h2>\n

Throughout the week, the leading cryptocurrency traded between $57,000 and $60,000. Bitcoin’s weakness was influenced by the release of US inflation data.<\/p>\n

The figures were lower than expected, causing a short-term rise in the asset, followed by a drop below $59,000. The reaction can be attributed to the rising cost of housing rent, which offset the positive effect of a lower CPI<\/span>.<\/p>\n

Over the past seven days, most top-10 assets by market capitalization saw little price change. Only Solana (-9.3%) and XRP (-2.9%) experienced significant declines.<\/p>\n

Meanwhile, Glassnode recorded a return to hodling in the Bitcoin market, and analysts at 10x Research identified the growth of stablecoin issuance as a factor in the continued rise of the coin.<\/p>\n

Low Interest in Digital Ruble<\/h2>\n

According to a VCIOM survey, 59% of Russians are not interested in the digital ruble. 31% are open to experimentation, while 10% are undecided.<\/p>\n

Potential users of the digital ruble include men (39% versus 24% of women), Russians with a good financial standing (40%), and urban residents (38% versus 24% of rural inhabitants). High interest is also noted among young people aged 18-24 (59%) and active internet users (40%).<\/p>\n

The Bank of Russia stated that CBDC testing is progressing as planned. Currently, about 20 banks are preparing their systems to connect to the national cryptocurrency platform.<\/p>\n

Regarding cryptocurrency market regulation, the Central Bank and the Ministry of Finance have yet to decide on how to handle Bitcoin exchanges.<\/p>\n

120 Million Ethereum<\/h2>\n

The supply of Ethereum has exceeded 120 million coins, with ETH’s annual inflation rising to 0.69%. The popularity of liquid staking and restaking platforms, due to the locking of coins in protocols, may indirectly influence the increase in issuance.<\/p>\n

Co-founder and CEO of Khelp Financial, Boomer Saraga, in an interview with Schwab Network, highlighted a discrepancy between the price of the second-largest cryptocurrency and its on-chain data.<\/p>\n

On August 13, the daily number of transactions in the Ethereum L2 ecosystem reached a record 12.5 million. Additionally, there are now over 2 million users on the mainnet and second-layer solutions.<\/p>\n

Trump and Musk<\/h2>\n

Billionaire Elon Musk interviewed US presidential candidate Donald Trump, disappointing crypto traders. The politician did not mention digital assets, causing meme tokens to plummet.<\/p>\n

Additionally, the prediction platform Polymarket opened a series of bets on specific words Trump might say. 65% of users wagered over $600,000 on the mention of “cryptocurrencies,” and 69% bet around $330,000 on “Bitcoin.”<\/p>\n

The largest win, over $1 million, went to a user with the nickname bama124<\/a>. He correctly predicted that Trump would not say “cryptocurrency,” earning $336,918.<\/p>\n

A financial disclosure filed during the week revealed that the former president holds cryptocurrencies worth up to $5 million and has earned over $7 million from NFT investments.<\/p>\n

DOGS Airdrop<\/h2>\n

The DOGS team has unveiled the project’s tokenomics. Developers of the Telegram mini-application allocated 81.5% of the total issuance of 550 billion coins for a community airdrop.<\/p>\n

According to the statement, the distribution does not involve a token lock-up period. 10% of the total DOGS supply will be allocated to the team for further development, with another 8.5% reserved for liquidity provision.<\/p>\n

The claim for coins began on August 16. Tokens can be received on Telegram Wallet or at the address of a supported centralized exchange (OKX or Bybit).<\/p>\n

Subscribe to the podcast:<\/em><\/p>\n

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Spotify<\/a><\/p>\n

Yandex Music<\/a><\/p>\n

Deezer<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

“Should Have Bought” is a news podcast by the ForkLog editorial team covering the week’s main events in the industry and the hottest tokens. Topics: Bitcoin’s ‘death cross’, inflation stabilization, 120 million ETH, DOGS airdrop, Trump and Musk interview. Participants: ForkLog authors Lena Jess and Vasily Smirnov. Reaction to Macroeconomic Data Throughout the week, the […]<\/p>\n","protected":false},"author":1,"featured_media":16174,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1241],"class_list":["post-16175","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-podcast"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/16175","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=16175"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/16175\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/16174"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=16175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=16175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=16175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}