🌄 GM Zivoenauts!

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. Zivoe’s Countdown To Launch

4. Zivoe In The News

5. Hot Takes: Are We Going Lower?

6. Memes Of The Moment

📉 Market Movements

Markets are going to the moon! The moon:

🟠 Bitcoin: $55,172.42 (-10.07%)

🔵 Ethereum: $2,946.79 (-14.31%)

🟣 Solana: $129.83 (10.19%)

🔴 Fear & Greed Index: 29 (Fear)

🍪 Bite-Sized Bits

Bitwise prepares to launch its ETF
Bitwise has filed an amended Form S-1 for an Ethereum ETF a few days ahead of the July 8 deadline, indicating that the product is almost ready to launch. Bloomberg ETF analyst James Seyffart reported that the products could be listed within two weeks. The SEC has yet to set a final date, but approval could come by the end of next week.

Mt. Gox transfers $2.6 Billion in BTC to begin repayments
Mt. Gox transfers 47,228 BTC as it prepares to refund its former customers. But creditors may have to wait up to three more months for their refunds. The delays vary by platform: Kraken (up to 90 days), Bitstamp (up to 60 days), BitGo (20 days), and both SBI VC Trade and Bitbank (14 days).

Consensys Acquires Wallet Guard to Strengthen Metamask
Consensys has announced the acquisition of Wallet Guard to strengthen the security of MetaMask by integrating fraud and drainer detection. The entire Wallet Guard team will join Consensys.

Justin Sun proposes OTC deal with Germany
Justin Sun has offered to buy the German government's bitcoin reserves off-market to minimize market impact. The offer follows the government's transfer of 6,500 BTC worth over $425 million.

German lawmaker suggests country create BTC reserve
Joana Cotar, a German lawmaker and bitcoin activist, has urged the government to stop rushing to sell off its bitcoin reserves and adopt it as a "strategic reserve currency”.

Coinbase seeks access to Gensler emails
Coinbase continues its legal battle against the SEC, seeking access to the personal communications of SEC Chairman Gary Gensler. Coinbase claims that these communications are critical to its defense.

Tokenized assets could reach $2 Trillion by 2030
Tokenized financial assets are moving from pilot to at-scale deployment. Adoption is not yet widespread, but financial institutions with blockchain capabilities in place will have a strategic advantage. At Zivoe, we are capitalizing on this opportunity, get in on the action July 31st!

🚀 Zivoe’s Countdown To Launch Continues!

Zivoe’s Initial Tranche Offering is a little less than 4 weeks away (July 31st)! Checkout our launch video to see how you can participate in the event and collect airdrop points 👇🏽

And of course, don’t forget about our on-going Galxe Quest. We’ve added a brand new quest for you to complete this week, so don’t miss out on your opportunity to score points and be entered to win USDC!

🏆 Click Here To Start Earning Points!

📰 Zivoe In The News

In case you were busy with the holiday festivities this week, here’s a recap of what’s been going on in the world of Zivoe!

🔥 Hot Takes: Are We Going Lower?

This is the question on everyones mind today as crypto markets have been collapsing over the last 24 hours. To address it, let’s turn to first principals and analyze the demand and supply side pressures behind Bitcoin.

Sell Pressure

1. German Government: The recent sell-off that prompted a series of cascading liquidations was set off by the German Government yesterday. In 2023, the German government seized 50,300 BTC from a piracy website crackdown. Currently, 83.94% of the position remains unsold.

2. Mt. Gox Payouts: Mt. Gox has begun refunding creditors after nearly a 10-year wait. So far, Mt. Gox has transfered over $2.6 Billion to exchanges which has the potential to add significant sell pressure in the coming months.

3. U.S. Government: Additional downside pressure looms over the US government's supply of Bitcoin, which was confiscated from The Silk Road. Despite publicly announcing plans to liquidate, the US government has been slow to execute the sell-off, adding uncertainty to the market.

4. Profit-Taking and Miner Sales: Early-year profit-taking coupled with increasing mining costs have added to the selling pressure. Bitcoin miners, struggling with low profitability, are increasingly liquidating their reserves.

Buy Pressure

On the demand side, all eyes are on BTC Spot ETFs, with today's (July 5th's) net inflows being a crucial indicator to monitor. Recent sentiments towards US stocks have been optimistic, prompting institutions to consider whether to sell off their BTC holdings or buy the dip.

Key factors supporting long-term buying include:

1. US Interest Rate Cuts: Lower rates are anticipated to boost risk asset prices.

2. US Election Outlook: A potential Trump victory could positively impact cryptocurrency regulations.

3. ETH ETF Approvals: While not directly related to Bitcoin, rumors that ETH ETFs could be approved as early as next week may reignite buy-side interest in crypto markets.

What do you think? Has the crypto market found a local bottom? Are we going lower? Vote in the poll below:

🐸 Memes Of The Moment

📲 Join The Fight Against High Interest Lending!

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