Matrixport Research: Daily Minting Data Rebounds, Overall Trend in the Crypto Market Improves
Funds are flowing from traditional financial markets to the cryptocurrency sector, and the overall trend in the crypto market is positive.Matrixport Research Institute's latest study indicates that the overall trend in the crypto market is positive. The main factors are as follows:
The daily minting volume of stablecoins is increasing & BTC mining hash rate is rising, suggesting that BTC prices are likely to go up.
Trump may announce that BTC will be included as a strategic reserve asset for the United States, with expectations of BTC price increases continuing to be released due to the upcoming election.
ETH ETF has finally been approved, with the first day's trading volume being 20-25% of BTC ETF trading volume.
BTC has maintained an upward momentum over the past week, driven by factors including: increased stablecoin minting volume, improved BTC mining hash rate, speculation about Trump potentially including BTC as a strategic reserve asset if he wins, and the successful issuance of the ETH ETF.
The daily minting volume of stablecoins is increasing & BTC mining hash rate is rising, suggesting that BTC prices are likely to go up.
Recently, the daily minting volume of stablecoins has increased, and the inflow of fiat-to-crypto assets has risen. Historically, this indicates a flow of funds from traditional financial markets into the crypto asset space, signaling a positive trend in the crypto market.
As one of the main indicators of Bitcoin's upward trend, the BTC mining hash rate has shown an increase. Although some mining machines have been forced to shut down due to unprofitability, BTC inventory has not only remained stable but has actually increased, suggesting potential price increases in the future. The rebound in hash rate has alleviated pressure on miners.
Trump may announce that BTC will be included as a strategic reserve asset for the United States.
As of 2024, nearly 35-38% of global BTC mining activities occur in the United States. By hash rate, the U.S. is the largest BTC mining country. Former U.S. President Trump has stated that he hopes the remaining BTC will be mined in the U.S. and views BTC as a strategic measure to consolidate U.S. energy dominance and counter the influence of countries like China and Russia. Trump has also emphasized the potential benefits of U.S.-based BTC mining for energy grid stability and national economic interests.
It is reported that Trump will deliver a keynote speech at the 2024 BTC conference scheduled for July 27 at 2 PM in Nashville, where he is expected to announce the inclusion of BTC as a strategic reserve asset for the U.S. BTC miners are likely to be the main beneficiaries. However, this news has not yet been officially confirmed, but crypto investors have high expectations.
ETH ETF has finally been approved, with the first day's trading volume being 20-25% of BTC ETF trading volume.
Preliminary data shows that the trading volume of the BTC ETF has reached 20-25% of the BTC ETF trading volume, indicating that an estimated $3.2-3.5 billion in capital is expected to flow in over the next six months. Due to a lack of marketing and large promotional activities, the initial capital inflow may be relatively small.
The above views are partly derived from Matrix on Target. Contact us for the complete report from Matrix on Target.
Disclaimer: The market carries risks, and investment should be approached with caution. This article does not constitute investment advice. Trading in digital assets may involve significant risks and volatility. Investment decisions should be made after careful consideration of personal circumstances and consultation with financial professionals. Matrixport is not responsible for any investment decisions made based on the information provided herein.
