Buy Crypto
Markets
Exchange
Futures
Finance
Promotion
More
Newcomer Zone
Log In
Daily Details

Coinex Daily:Cryptocurrency Market Remains Calm, GameFi Sector Rotates

  • STON -0.91%
  • ALICE -0.6%
  • TON +0.27%
  • BTC +2.16%
  • GODS -2.54%
Published on 2024-07-18

Overview

Today's cryptocurrency market remains relatively calm, especially following the major security breach at the WazirX platform, which has led to cautious market sentiment. The ETF market saw an increase in holdings, with Bitcoin ETF positions rising. Macroeconomic data had little impact on the market. Meanwhile, the GameFi sector showed significant upward movement.

Daily Macro

Bitcoin Market Today's Bitcoin market performance was stable, with price fluctuations within a narrow range. Trading volumes on major exchanges decreased, reflecting an overall cautious market sentiment. The WazirX breach has led some investors to adopt a wait-and-see approach.

Bitcoin ETF On July 18, nine US Bitcoin ETFs collectively increased their holdings by 2,194 BTC, valued at approximately $139.7 million. Among them, BlackRock's IBIT added 1,708 BTC, bringing its total holdings to 323,833 BTC, while Grayscale reduced its holdings by 11 BTC, now holding 273,005 BTC.

Daily Focus

GameFi Sector

Reason for Focus:  The GameFi sector has shown strong performance recently, likely due to sector rotation effects. The sector, after a prolonged period of downward consolidation, is entering a rebound phase.

Performance of Related Tokens:

  • $ALICE: Price increased by approximately 40% in the past week.
  • $GODS: Price increased by Up approximately 141% in the past week.

Market Outlook: As the broader market stabilizes, long-consolidated sectors are gradually rotating. GameFi is a significant sector within Web3, and high-quality leading projects are likely to attract more capital inflows.


Next Focus

TON Teleport

Reason for Focus:  The TON Foundation's TON Teleport project aims to connect the Bitcoin and TON ecosystems, allowing seamless transfers between the Bitcoin blockchain and TON. By utilizing a trustless system, the project enhances transaction security and transparency, eliminating the need for central authorities.

Related Assets: 

  • TON Teleport is expected to boost the value of assets related to the TON ecosystem. Each BTC on TON will be fully backed by actual BTC, enhancing the TON ecosystem's value and potentially fostering the development of DeFi projects and financial products on TON, such as decentralized exchanges, lending platforms, and advanced wallet services ($STON & $TON).

How to Participate: 

Users can gain benefits by participating in early testing and using related features of the TON Teleport project. Additionally, monitoring new projects and applications within the TON ecosystem, especially those utilizing the TON Teleport mechanism, can provide more investment opportunities. Specific ways to participate include:

  • Creating and managing wallets on the TON platform to transfer BTC and TON.
  • Participating in TON Teleport-related governance proposals and community activities to receive early rewards and incentives.
  • Investing in and staking TON tokens to support the stability and development of the TON ecosystem.


In accordance with the regulatory requirements of relevant departments on cryptocurrency, our service is no longer available for users in the region of your IP address.