Welcome, Crypto enthusiasts!

Memecoins have exploded with election references and crypto holders are backing Donald Trump for president.

In Today’s Blockstreet Journal:

• Elections Explode Meme Coins

• Solana Holders Want Trump

• Market Rundown

• Top Gainers & Losers

• Airdrops More News

Latest News

MARKET NEWS
🇺🇸 Elections Explode Meme Coins  

Word On The Street: The 2024 United States Presidential election has sparked a surge in memecoins associated with candidates from both parties.

The details:

• Current U.S. President Joe Biden has a plethora of memecoins related to him and his family members.

• Joe Biden-inspired memecoin Jeo Boden (BODEN) plummeted by 62% within the first two hours after his announcement to step down.

• MAGA (TRUMP) has fluctuated with particularly massive gains following the assassination attempt on the former president.

Why it matters: While Biden’s announcement shocked the market, some analysts speculate that his withdrawal could benefit the overall crypto market.

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ALT COINS
🦅 Solana Holders Want Trump 

Word On The Street: Solana's recent market surge indicates investor sentiment that the Democrats, may face challenges surpassing Trump.

The details:

• Following Biden's withdrawal announcement, Solana's price surged by approximately 3.5%.

• Bitcoin and the broader crypto market also experienced a collective rise of 3.22% during the same period.

• Trump has pledged to end what he calls Biden’s "war on crypto" if reelected.

Why it matters: As of July 22, SOL's price was trading above its triangle's upper trendline, aiming for a potential rise toward $275.

Market Rundown

Fear & Greed Index

The global crypto market cap is $2.44T, a 0.30% decrease over the last day.

The total crypto market volume over the last 24 hours is $94.73B, which makes a 85.36% increase. The total volume in DeFi is currently $7.58B, 8.00% of the total crypto market 24-hour volume. The volume of all stable coins is now $74.45B, which is 78.59% of the total crypto market 24-hour volume.

Bitcoin’s dominance is currently 54.32%, an increase of 0.08% over the day.

Global Market Metrics

Current State of the Cryptocurrency Market (as of July 22, 2024)

- Total Market Capitalization: $2.44T

- 24-hour Trading Volume: $94.73B

- Active Cryptocurrencies: 10,014

- Active Market Pairs: 82,257

- Active Exchanges: 794

- Bitcoin Dominance: 54.32%

- Ethereum Dominance: 17.07%

- DeFi Market Capitalization: $77.20B

- DeFi Trading Volume: $7.58B

- Stablecoin Market Capitalization: $157.42B

- Stablecoin Trading Volume: $74.45B

- Derivatives Trading Volume: $726.51B

Top Gainers & Losers

🚀 Top Gainers

💩 Top Losers 

Airdrops & More News

DAILY AIRDROP
📦️ Ancient8 Airdrop

Ancient8 has opened up its airdrop claim and announced that their A8 token is live. Visit the claim page and connect your wallet to claim the airdrop. The claim period ends on August 17, 2024.

Step-by-Step Guide:

1. Visit the Ancient8 airdrop claim page. (Need VPN)

2. Connect your wallet to claim your A8 tokens.

3. If you are eligible, you will be able to claim your tokens.

4. The airdrop claim will be open until August 17, 2024, 9 AM UTC.

5. Users can also stake their A8 tokens from their staking page.

6. Access the Ancient8 airdrop leaderboard landing page.

7. Connect your wallet and complete the daily check-in.

8. Connect your email, Discord, Telegram and X accounts.

9. Share your referral link to earn more points.

10. Bridge at least $50 from any chain using Relay Protocol. Check out Ancient8’s tutorial on how to bridge for a complete walkthrough.

11. Complete the other Ancient8 missions listed on the airdrop leaderboard landing page.

12. Complete the missions listed on the airdrop leaderboard landing page for each game.

Other News

Hong Kong to launch Asia’s first inverse Bitcoin ETF. CSOP’s new inverse Bitcoin ETF aims to profit from BTC price declines following their successful 2022 launch of the firm’s Bitcoin Futures ETF.

Any Near-Term Rebound in Crypto Market Likely to Be Temporary: JPMorgan. The bitcoin price is currently too high versus its production cost and relative to its volatility-adjusted comparison to gold, the report said.

Real Bedford FC boosts Bitcoin stash with $4.5M acquisition. Real Bedford FC expands its Bitcoin holdings with a strategic purchase of 66.9 BTC at an average price of approximately $67,220 per Bitcoin, reinforcing its commitment to cryptocurrency.

India Unlikely to See Crypto Tax Reduction in Tuesday's Budget. An unexpected election result and last week's $230 million hack of crypto exchange WazirX appear to have dented any hopes of a reduction in the tax.

🫡 Thanks For Reading

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