Welcome, Crypto enthusiasts!

With the Germany sell off over and the Dollar Index weakening Bitcoin is starting to see bullish sentiment return.

In Today’s Blockstreet Journal:

• Bitcoin Sees Bullish Bounce

• Solana is struggling

• Market Rundown

• Top Gainers & Losers

• Airdrops More News

Latest News

BITCOIN
📈 Bitcoin Sees Bullish Bounce  

Word On The Street: Bitcoin's resurgence from its five-month low continues to gain traction on July 13, with BTC rising approximately 1.70% intraday.

The details:

• The German government has approximately 9,100 BTC remaining after selling over $2.5 billion worth of BTC since June 17.

• During this period, Bitcoin's price initially dropped by about 12.70%, followed by a significant recovery of over 10% in the past eight days.

• Bitcoin's recent gains align with a decline in the US Dollar Index, which tracks the dollar's strength against a basket of top foreign currencies.

Why it matters: The DXY dropped 0.90% in a week, reaching around 104 on July 12, its lowest level in about five weeks.

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ALT COINS
🤨 Solana is struggling 

Word On The Street: Since July 3, SOL, the native token of the Solana network, has struggled to close above $145.

The details:

• SOL's decline of 7.8% between July 3 and July 12 outpaced its competitors BNB and Ether, which fell by 6.5%.

• Traders are concerned that SOL’s bearish momentum might persist, even if the broader cryptocurrency market recovers some of its losses.

• SPL tokens significantly underperformed, reducing demand for SOL.

Why it matters: In the broader context, SOL remains the fourth largest cryptocurrency, excluding stable coins, with a market cap of $65 billion.

Market Rundown

Fear & Greed Index

The global crypto market cap is $2.17T, a 1.55% increase over the last day.

The total crypto market volume over the last 24 hours is $46.21B, which makes a 24.81% decrease. The total volume in DeFi is currently $3.32B, 7.19% of the total crypto market 24-hour volume. The volume of all stable coins is now $41.72B, which is 90.28% of the total crypto market 24-hour volume.

Bitcoin’s dominance is currently 53.38%, a decrease of 0.08% over the day.

Global Market Metrics

As of today, the current state of the cryptocurrency market is as follows:

- Total Market Capitalization: $2.17T

- 24-hour Trading Volume: $46.21B

- Total Active Cryptocurrencies: 10,004

- Bitcoin Dominance: 53.38%

- Ethereum Dominance: 17.47%

- DeFi Market Capitalization: $69.15B

- DeFi 24-hour Trading Volume: $3.32B

- Stablecoin Market Capitalization: $155.73B

- Stablecoin 24-hour Trading Volume: $41.72B

- Derivatives 24-hour Trading Volume: $467.97B

Top Gainers & Losers

🚀 Top Gainers

💩 Top Losers 

Airdrops & More News

DAILY AIRDROP
📦️ Napier Finance Airdrop

Napier Finance is running a points campaign for its users. Users can earn Napier points by engaging in various activities, like the Llama Quests that happen during Llama Races. <p> The team has confirmed that the points represent the right to receive NPR tokens after TGE.

Step-by-Step Guide:

1. Visit the Napier Finance points page.

2. Connect your wallet.

3. You can now complete quests to earn free Napier points.

4. Users can earn Napier points as well as CRV/CVX emissions and EigenLayer/LRT points.

5. You can check your Napier points from here.

6. Additionally, you can earn more points by inviting your friends.

7. Both the inviter and invitee can earn 100 Napier Points per invitation.

8. The team has confirmed that the points represent the right to receive NPR tokens after TGE.

Other News

UK Law Commission sees no need for DAO-specific legal entity. The UK Law Commission scoping paper suggested legal reforms for DAOs, a review of the Companies Act and international cooperation on AML and tax frameworks.

MakerDAO's $1B Tokenized Treasury Investment Plan Draws Interest. MakerDAO's competition to allocate funds will open next month, and would give a big boost for the $1.8 billion tokenized real-world asset space.

Crypto trading volume to exceed $108T in 2024, with Europe in the lead. Crypto trading volume is projected to surpass $108 trillion in 2024, with Europe leading in global transaction value and Binance being the most dominant exchange worldwide.

Blockbuster Games Will Soon Be Built on Modular Appchains. Mainnets like Ethereum’s aren’t suitable for major (AAA) game development. The only solution is a horizontally scalable blockchain coupled with modularity and a gas-free experience for end-users, says Jack O’Holleran, CEO of SKALE Labs.

🫡 Thanks For Reading

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