Daily on-chain Briefing | July 26

Market Overview:

Today, the overall market sentiment is optimistic. The "Fear and Greed Index" is at 72, in the "Greed" range, indicating that investor confidence is strong, driven by recent price increases and positive news.

Market Sentiment:

Bullish: 70%
Bearish: 10%
Neutral: 20%

Today's news:

1. The "Satoshi Nakamoto Era" whale sold 80,000 bitcoins through Galaxy Digital.

- A dormant wallet that had been asleep for many years sold approximately 80,000 bitcoins through Galaxy Digital, with a market value of around $9 billion. This operation is part of an estate planning effort.
- When the transaction occurred, the price of Bitcoin briefly dropped below $115,000, and then quickly rebounded to $117,200.

Impact: This move briefly tests market liquidity, but the rebound shows strong demand, which may indicate the formation of a local bottom and is expected to attract more institutional funds to enter.

2. Galaxy Digital transferred $380 million in Ethereum to a new wallet

- Approximately 101,000 ETH (worth $380 million) transferred to a new wallet, suspected to be deployed by institutions or large holders.

3. Trump signs the GENIUS Act, the first federal cryptocurrency regulation is born.

- The bill was signed on July 15, officially authorizing payment stablecoins and clarifying the regulatory framework for cryptocurrency infrastructure.
- The supply of stablecoins has rapidly increased by $4 billion, driving the overall market up by 10%.

Impact: This bill provides policy support for the development of stablecoins and is expected to attract more institutional capital, but the long-term effects still need to be observed in terms of implementation details.

Choose the right track and run alongside for the long term.

No matter how the market fluctuates, remember to stay rational, manage risks well, and don't let emotions influence your investment decisions.

Wishing you successful trading, always keep DYOR!