☀️ GM!

Welcome back to your weekly dose of web3 insights! Your go to source for everything DeFi, RWAs, and Zivoe.

Here’s what we’ve got for you today:

1. Market Movements

2. Bite-Sized Bits

3. 19 Days Until Zivoe’s Launch

4. Zivoe x Coinbase Takes On Washington, D.C.

5. Hot Takes: Could ETH ETFs Drive Prices Lower?

6. Memes Of The Moment

📈 Market Movements

Crypto prices get a bounce this week!

🟠 Bitcoin: $57,440.43 (+ 4.30%)

🔵 Ethereum: $3,077.08 (+ 4.71%)

🟣 Solana: $136.81 (+ 5.99%)

🔴 Fear & Greed Index: 25 (Extreme Fear)

🍪 Bite-Sized Bits

Germany has sold 90% of its BTC
After a month of heavy selling pressure, the German government has nearly exhausted its Bitcoin supply, selling over 90% of the BTC it seized in January. Only 9.9% of those BTC remain, or about 4,925 BTC worth $284 million.

ETH ETFs Launching July 18th?
Candidates for an ETH ETF have amended their registration statements in anticipation of a possible July 18 launch, according to Bloomberg analyst Eric Balchunas.

Goldman Sachs to Launch Three Tokenization Projects
Goldman Sachs plans to launch three tokenization projects for its major institutional clients by the end of the year, according to Mathew McDermott, Global Head of Digital Assets. One project will target the U.S. fund complex and another will focus on debt issuance in Europe.

SEC to drop case against Paxos
Last year, the SEC took action against the Binance stablecoin BUSD issued by Paxos, accusing the asset of being an unregistered security. However, in a recent letter, the SEC informed Paxos that it would not be taking legal action. BUSD had been accused of being a security under the Howey test. However, Judge Amy Berman Jackson rejected this approach, pointing out that BUSD holders do not share in reserve returns, thus discrediting the SEC's claims.

MicroStrategy Announces Stock Split
MicroStrategy announced a 10-for-1 stock split. On August 8, 2024, current stockholders will receive nine additional shares for each share held on August 1, 2024.

Coinbase advised to drop its request for Gensler subpoena
At a hearing, Federal Judge Katherine Polk Failla advised Coinbase to reconsider or drop its request for personal communications from SEC Chairman Gary Gensler. She called the request "almost ridiculous”.

FTX disputes Jump Trading's $264 million claim
FTX disputes Jump Trading's $264 million claim, arguing that Alameda Research never delivered the agreed upon 800 million Serum tokens, rendering the loan null and void.

MiCA compliant stablecoins reach 12% market share
Circle was the first issuer to become MiCA compliant. Since then, transaction volumes in USDC and EURC have increased. The market share of MiCA compliant stablecoins has grown from 4% in January to 12% today.

🚀 19 Days Until Zivoe’s Launch

Zivoe’s Initial Tranche Offering is just 19 days away (July 31st)! Checkout our launch video to see how you can participate in the event and collect airdrop points 👇🏽

📰 Zivoe x Coinbase Takes On Washington, D.C.

Zivoe Co-Founder, Thor Abbasi, joined Coinbase in Washington D.C. this week for their Stand With Crypto campaign. Here’s some of the highlights:

🔥 Hot Takes: Could ETH ETFs Drive Prices Lower?

As ETH ETF approval approaches, some speculators warn that the price action might differ significantly from the BTC ETF experience. In fact, some analysts predict a potential 30% drop in ETH prices following approval.

The main concerns center around three issues:

1. Grayscale’s ETH Trust (ETHE Outflows)

2. Flows Relative to Spot Bitcoin ETFs

3. Lack of ETH Staking

Grayscale’s ETH Trust (ETHE Outflows)

Much like the approval of BTC ETFs, Grayscale’s Ethereum Trust is expected to experience significant outflows initially, as investors take profits and escape Grayscale’s hefty 2.5% management fee. With nearly $9 billion in ETH held by the trust, these outflows could heavily weigh on upward price action, similar to the impact seen with GBTC earlier this year.

Flows Relative to Spot Bitcoin ETFs

Adding to investor concerns is the lackluster institutional demand. Analysts expect inflows into ETH ETFs to be only about 15% of the flows seen by spot Bitcoin ETFs. For context, excluding the funds converted from spot form, only $5 billion in new funds flowed into BTC ETFs in the first six months. This suggests that Ether ETFs would only attract approximately $840 million in true inflows over the same timeframe.

Lack of ETH Staking

To top it off, prospective issuers of these ETFs removed the provision for staking from their applications to push for faster approval. This makes them even less appealing to institutions that already have access to platforms for acquiring and staking ETH.

The Silver Lining

However, it's not all doom and gloom for ETH. Some analysts predict that Ether prices could jump as much as 90% following approval. The rationale is that Ethereum’s liquidity is about half that of Bitcoin, requiring less inflow to impact price. Additionally, with around 40% of the ETH supply locked up in staking, bridging, and other smart contracts, it might just be enough to reignite the rally we've been waiting for!

Analysts are predicting approval as early as July 18th, while prediction markets suggest trading won’t actually start until July 26th.

What do you think? Are ETH ETFs going to rock the price of ETH? Or will they reignite the crypto rally? Vote in the poll below:

🐸 Memes Of The Moment

📲 Join The Fight Against High Interest Lending!

Join our community and stay up-to-date with the latest news and developments by following us on social media. Connect with us to engage in discussions, receive real-time updates, and be part of the Zivoe movement!

Website: Zivoe.com

Twitter: @ZivoeProtocol

Telegram: @ZivoeProtocol

Discord: Join The Community

Thank you for joining us on this exciting journey. Together, we can build a brighter financial future!