Gate.io Blog July 2022 | Gate.io Monthly Featured Articles and Market Highlights

July 2022 | Gate.io Monthly Featured Articles and Market Highlights

29 July 15:53

Gate.io monthly featured articles will include the most liked and the most viewed entries from our July blog posts. We will also integrate the release of macro global events in the following month. Because the market is changing rapidly, our updates will help you capture the latest valuable information and ensure your access to quality articles.

🔷 July Highlights

#Investors in massive BTC sell-off; #Bitcoin tourists purged; #El Salvador purchases an additional 80 BTC

🔷 Institutional Bitcoin Investors in Massive BTC Sell-off
“Arcane Research said that institutional investors have withdrawn 236,237 BTC since 10 May 2022. This amount is exclusive of the normal hedging and capitulation activities that usually occur during bear markets.”

🔷 Bitcoin has Expelled Market Tourists
“The Bitcoin network is approaching a state where almost all speculative entities and market tourists have been completely purged from the asset.”

🔷 El Salvador Purchases an Additional 80 BTC
“Posting on Twitter, President Bukele said, “El Salvador bought 80 #BTC today at $19,000 each! #Bitcoin is the future! Thank you for selling cheap.” To support the accuracy of his announcement, Bukele included a screenshot showing a successful BTC transaction.”

🔷 Ethereum Name Service（ENS）Registration Surged By 200% Within A Week
“The second-largest sale for a particular ENS domain name, ‘000.eth,’ was executed for 300 ETH. This singular sale raised the daily revenue of the Ethereum Name Service to about $684,000.”

❤️ Netizens Favorites

❤️ 108 netizens expressed their love for “What Is Soulbound?”

❤️ 126 netizens expressed their love for “The Impact of USDT Depegging on the Crypto Market”

❤️ 99 netizens expressed their love for “Cats Rule the World! | Why Do Mimic Shhans NFTs Go Viral?”

👀 Hot Spots in the Crypto Space

🔷 Kevin O‘Leary Predicts Massive Crypto Panic Event
“The shrewd entrepreneur opined that when the predicted crash occurs, it will be a great time for buying digital assets. O'Leary believes that once crypto is properly regulated, it would draw investments worth trillions and would likely become the number 12 sector on S&P.”

🔷 How Consumer Price Index Affect the Cryptocurrency Market
“For a long time crypto experts believed that cryptocurrencies hedge against inflation. However, recent developments have shown that inflation negatively affects the crypto market.”

🔷 How Does Gate.io Copy Trading Make The ROI Of The Copier Close To That Of The Lead Trader?
“Copy trading is a new way to achieve a win-win future transaction between the lead trader and the copier. The high-quality lead traders enter copy trading to lead trading and attract potential users to copy, so as to obtain the profit share, but also to meet the demand of users who are weak in market judgment”

✨ Market Highlights in July

🔷 As of July 29, the crypto market Fear & Greed Index was [Fear 39], up 16 from [Extreme Fear13] last month.

🔷 After the Federal Reserve announced another interest rate hike on July 27, the price of Bitcoin soared by approximately 8%, hitting $22,500. Meanwhile, it led to a significant double-digit increase in several other mainstream cryptocurrencies, including ETH.

🔷 The BTC opening price in July was $19,145.38, and the current quotation was $23,927.58 at 15:30 (Beijing time) on July 29, representing an increase of 24.98%.

🔷 The ETH opening price in July was $1,071.60, and the current quotation was $1,716.21 at 15:30 (Beijing time) on July 29, representing an increase of 65.19%.

🌏 Global Affairs in August

Author: Gate.io Observer: Jill Ma Translator: Joy Z.
* This article represents only the views of the observers and does not constitute any investment suggestions.
*Gate.io reserves all rights to this article. Reposting the article will be permitted provided Gate.io is referenced. In all other cases, legal action will be taken due to copyright infringement.

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July 2022 | Gate.io Monthly Featured Articles and Market Highlights

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