The Block
U.S. spot bitcoin ETFs reported $541 million in net outflows on Monday, following one of their largest streaks of net inflows last week.The price of bitcoin has been fluctuating around the $68,000 level over the past day as the market awaits the result of the U.S. presidential election.
Quick Take A Trump victory could see Ross Ulbricht pardoned and Gary Gensler fired. The impact of a Harris win is less clear, although she has promised to protect Black men who invest in crypto.
Quick Take Bitcoin mining difficulty jumped 6.2% to hit an all-time high of more than 100 trillion on Tuesday. The positive adjustment comes after the Bitcoin network reached a record seven-day moving average hash rate of over 750 EH/s last week.
Quick Take The market capitalizations of Daos.fun’s major memefunds, such as ai16z and Norm Capital, have plunged by over 80% in the past seven days. The discrepancies between memefund market cap and actual net asset values suggest potential liquidity issues for holders.
Quick Take Daily bitcoin inflows to centralized exchanges are lower today than on previous U.S. Election Days, suggesting potentially reduced selling pressure around the event, according to CryptoQuant analysis. Short-term holders have increased their bitcoin holdings by 343,000 BTC since early October, reaching 4.25 million BTC, indicating renewed interest in the digital asset ahead of today’s election, according to an analyst.
Quick Take Kalshi hit first place while Polymarket reached fourth in the Apple App Store’s financial category on the morning of the United States 2024 presidential election. Both platforms allow users to bet on the winner of the election, but only Kalshi is available to U.S. users.
Quick Take Bitcoin’s simpler value proposition as a digital store of value may resonate more clearly with institutional investors compared to Ethereum’s more complex role in decentralized computing and finance. The following is an excerpt from The Block’s Data and Insights newsletter.
Quick Take A U.S. presidential election victory for Donald Trump could see Silk Road creator Ross Ulbricht pardoned and SEC Chair Gary Gensler fired, while the impact of a Kamala Harris win is less clear. Defunct bitcoin exchange Mt. Gox transferred approximately 32,371 BTC, worth $2.2 billion, to unmarked wallets late Monday, according to the onchain analytics platform Arkham. Bitcoin mining difficulty jumped 6.2% to hit an all-time high of 101.7 trillion on Tuesday, following the network’s record seven-d
Quick Take Privacy startup Nym Technologies will buyback $1 million worth of NYM tokens. The company plans to launch its NymVPN in the coming weeks and will rely on the tokens to incentivize participation.
