Welcome, Crypto enthusiasts!

The launch of the ETH ETF has created a sell off just like when the Bitcoin ETF launched earlier this year, meaning its an amazing buy opportunity.

In Today’s Blockstreet Journal:

• ETH ETF Creates Sell Off

• Solana Meme Coins Take Over

• Market Rundown

• Top Gainers & Losers

• Airdrops & More News

Latest News

ETHEREUM
📉 ETH ETF Creates Sell Off 

Word On The Street: Ethereum's price has dropped by approximately 8.75% over the past 24 hours, settling around $3,170 on July 25. , often after the market has already priced in the expected news.

The details:

• This decline came after the launch of eight spot Ether ETFs on the New York Stock Exchange, erasing nearly two weeks of gains.

• The market's response suggests a "sell-the-news" reaction, a common trading strategy where selling off assets follows a major event.

• Earlier in the year, Bitcoin experienced a similar drop after the launch of its own spot ETFs in the U.S.

Why it matters: This pattern underscores a trend where significant events lead to sell-offs, even when the news is positive.

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ALT COINS
☀️ Solana Meme Coins Take Over 

Word On The Street: According to CoinGecko, the total market capitalization of memecoins on the Solana blockchain surged to $9.2 billion as of July 24.

The details:

• Leading this rally was "Cat in Dogs World" (MEW), which saw an impressive increase of 82% over the last seven days.

• "Gigachad" (GIGA) also posted significant gains, rising 45.5% over the week and 9% in the last day.

• Solana's increased network activity supports this rally, suggesting that investor sentiment toward the network is grounded in real growth.

Why it matters: This bullish trend among Solana memecoins highlights a growing interest in this sector.

Market Rundown

Fear & Greed Index

The global crypto market cap is $2.3T, a 5.33% decrease over the last day.

The total crypto market volume over the last 24 hours is $88.24B, which makes a 21.00% increase. The total volume in DeFi is currently $4.7B, 5.32% of the total crypto market 24-hour volume. The volume of all stable coins is now $81.13B, which is 91.93% of the total crypto market 24-hour volume.

Bitcoin’s dominance is currently 54.92%, an increase of 0.57% over the day.

Global Market Metrics

As of today, the global cryptocurrency market is in the following state:

- Total Market Cap: Approximately $2.3 trillion USD

- Total Market Volume: Around $88.24 billion USD

- Bitcoin Dominance: 54.93%

- Ethereum Dominance: 16.44%

- DeFi Market Cap: Approximately $70.1 billion USD

- Stablecoin Market Cap: Approximately $157.7 billion USD

- DeFi Volume: Around $4.7 billion USD

- Stablecoin Volume: Approximately $81.13 billion USD

Top Gainers & Losers

🚀 Top Gainers

 💩 Top Losers

Airdrops & More News

DAILY AIRDROP
📦️ Mint Airdrop

Mint is running an airdrop campaign for its users. Dubbed the “Mint Expedition,” the airdrop program was launched in celebration of the successful release of the Mint dev mainnet and public mainnet.

The team has allocated 12% of the total MINT token supply to MintID stakers, GreenID holders and Mint Expedition users.

Step-by-Step Guide:

1. Visit the Mint Airdrop page.

2. Connect your wallet and sign the message.

3. Enter the invite code “QET5FQDA” and join the airdrop.

4. Complete the Mint Expedition tasks to earn free points.

5. Additionally, MintID stakers and GreenID holders will receive free MINT tokens.

6. A total of 12% of the MINT token supply is set aside for this airdrop round.

7. You can also invite your friends to earn more points.

8. The points will later be converted to airdrop.

9. Check out their official airdrop announcement for more details about the campaign.

Other News

Atari to bring retro games onchain with Base. Players can mint a non-fungible token that acts as their access pass and play the classic game Asteroids on the blockchain.

Bitcoin, Stocks Bleed as China Rate Cuts Signals Panic, Treasury Yield Curve Steepens. China's back-to-back interest-rate cuts signal urgency to shore up growth after the recent Communist party plenum offered little support to the nation's flagging economy.

Galaxy Asset Management raises $113M for new crypto venture. The $113 million could be a significant financial lifeline for cryptocurrency startups, inviting more institutional attention to the crypto space.

Ether Down Over 7.5% as ETHE Outflows Ramp Up. Most Ether ETFs were in the green during the Wednesday U.S. trading session, but Grayscale's converted Ethereum Trust ETF posted a net outflow of over $800 million.

🫡 Thanks For Reading

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