BTC Reaches $56K, Nvidia Drops, Trump Family DeFi Project Announced: News of September 4, 2024
Bitcoin ETFs faced significant outflows last month. Meanwhile, the Trump-linked World Liberty Financial is set to launch a DeFi project on Ethereum.
Spot BTC ETF outflow
Last month, spot BTC ETFs experienced negative overall flows.
This was a significant drop compared to March, when the BTC price was climbing and the ETFs were in an explosive phase.
However, you shouldn't be overly concerned about the ETF impact on the markets.
Data shows that ETF volumes represent only 20% of the market. There's still plenty happening beyond ETFs.
When in doubt, zoom out, said Lark Davis on twitter:
Don't get caught up in the noise.
— Lark Davis (@TheCryptoLark) September 4, 2024
Last month, spot BTC ETFs experienced negative overall flows.
This was a significant drop compared to March, when the BTC price was climbing and the ETFs were in an explosive phase.
However, you shouldn't be overly concerned about the ETF…
Trump-Linked World Liberty Financial to Launch Credit System on Ethereum with Unique Governance Token
World Liberty Financial, a crypto project associated with the Trump family, is a credit account system built on Aave and Ethereum. The project is said to be inspired by the DeFi protocol Dough Finance and plans to issue a "non-transferable" governance token called WLFI.
Most TON Holders In the Red as Price Keeps Falling After Telegram CEO Arrest
Toncoin’s price slipped below $5 on Tuesday, hitting a four-month low following the arrest of Telegram founder and CEO Paul Durov in France late last month.
The Telegram-linked cryptocurrency, which powers The Open Network (TON), is officially separate from the messaging app. Still, TON has roots with Telegram’s CEO, and it serves as the backbone for Telegram’s crypto features, such as in-app, digital wallets.
Over the past day, Toncoin’s price had fallen 4.1% to $4.95, showing a 26% loss over the past two weeks. With the asset market cap at $12.4 billion, Tuesday’s dip was enough to push Toncoin out of the top ten cryptocurrencies ranked by market capitalization, according to CoinGecko.
AI Crypto Tokens Crash to $20 Billion as US DOJ Subpoenas NVIDIA
The value of Artificial Intelligence (AI) crypto tokens has seen dramatic fluctuations, heavily influenced by external factors, most recently linked to Nvidia Corp.
For the past eight months, AI tokens have soared, driven by Nvidia’s leadership in advancing artificial intelligence technology. However, recent developments on Tuesday have overshadowed the AI token market, causing significant price drops.
SOL price linked to number of PumpFun launches
When you overlay @pumpdotfun launches on top of the Solana price chart....
$SOL stopped going up almost exactly when people started launching tons of memecoins, said analytic Luke Martin on twitter.
SOL remains in an uptrend following a massive rally since February 2024. As the uptrend continues, we can expect increased activity across the entire ecosystem.
